GSFA Platinum Program

Grant Program

Competitive Fixed-Rate Financing With a 5% Grant
Mission San Jose Mortgage is pleased to offer an exclusive loan solution and grant program for low- to moderate-income individuals and families in California.

Through the GSFA Platinum Program, Mission San Jose provides qualified homebuyers with competitive 30-year home financing and a grant that can be used toward down payment. The grant does not have to be repaid. Many times this allows homebuyers to purchase a home sooner than they thought possible.

Program Benefits

  • An attractive 30-year, fixed-rate mortgage.
  • The grant funds are not required to be repaid.
  • No first-time homebuyer requirement.
  • Available for purchases of both new and existing homes.

Program Eligibility and Property Requirements 

  • No minimum borrower contribution required.
  • Must have a minimum credit score of 660 for a 5% grant or a minimum credit score of 640 for a 4% grant.
  • Maximum debt-to-income ratio of 45%.
  • Income requirements are based on the credit qualifying loan applicant and are not tied to household income.
  • Property must be owner-occupied, but the borrower can own other property.

Sample loan scenario: $250,000 purchase price, $245,471 loan amount, 3.5% down payment (funds from the NHF program), $1,671.73/month (PITI), 30-year fixed 4.5% interest rate, 5.664% APR. he GSFA Platinum Program is offered through the Golden State Finance Authority. This is not an offer for extension of credit or a commitment to lend. All mortgage products are subject to credit and property approval. Rates, program terms, and conditions are subject to change without notice. Additional conditions, qualifications, and restrictions may apply.

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