Waldorf Realty works with many lenders and in most cases, we now have 100% financing available for people that qualify:  See below for what program will suit your needs the best:

What Can the GSFA Platinum Program Do For Homebuyers?

The GSFA Platinum Program was created to help low-to-moderate income homebuyers in California purchase a home by providing down payment and/or closing cost assistance, currently in the form of a non-repayable grant.

Since it began in 2010, GSFA Platinum has helped 14,600 people purchase homes, providing more than $113 million in grant

Features at a Glance

  • Non-repayable grant for down payment and/or closing costs;
  • Grant sized up to 5% of the loan amount;
  • Program NOT limited to first-time homebuyers;
  • FICO score requirement from 640 and up;
  • Available with various mortgage loans; and
  • NOW available with eligible refinances.
  • The grant is not a second mortgage and does not create a lien against the property and can be used towards down payment and/or closing costs.

    GSFA Platinum is designed to be flexible and is available for the purchase of both new and existing homes, as long as the home will be the primary residence of the homebuyer. The Program is also not limited to first-time homebuyers. Whether someone owned a home in the past or not, they can apply for the Program.

  • How Does a Homebuyer Qualify for the Program?

    First, the homebuyer(s) must meet SFA’s specific qualifying guidelines for the Program which include the following

    • Intend to occupy the home as the primary residence;
    • Qualifying income (total income used to qualify for the mortgage) must not exceed Program Income Limits;
    • Meet the minimum credit score requirement of 640; and
    • Not exceed the maximum debt-to-income ratio of 45%.

    The CHDAP provides a deferred-payment junior loan – up to 3% of the purchase price, or appraised value, whichever is less, to be used for their down payment and/or closing costs. This program may be combined with a CalHFA or non-CalHFA, first mortgage loan.

    Review the sections below to find out more about the CHDAP program.

    Program Eligibility

    Am I eligible to apply for this program? 
    Review the guidelines below for both “Borrower” and “Property” Requirements to determine if you may be eligible to apply for the CHDAP program.

    Borrower Requirements

    *In the case of conflicting guidelines, the lender must follow the more restrictive.

    Property Requirements

    • Sales price of the home cannot exceed CalHFA’s sales price limits established for the county in which the property is located
    • Be a single-family, one-unit residence, including approved condominium/PUDs
      • Guest houses, granny units and in-law quarters may be eligible
    • Manufactured housing allowed when combined with a FHA first mortgage only and home must be on a permanent foundation

    *In the case of conflicting guidelines, the lender must follow the more restrictive.

    Additional Property Guidelines

    • Condominiums must meet the guidelines of the first mortgage
    • There is a five acre maximum on the size of the property
    • Leaseholds/Land Trusts and Co-ops are not permitted
    Meet the requirements of the mortgage insurer/guarantor

    Second, the homebuyer(s) must apply for the Program through a GSFA Platinum Participating Lender and meet all the qualifying guidelines for the type of mortgage loan being used to finance the purchase of the home.

    Conventional, FHA, VA, and USDA 30-year mortgages are allowed. Current interest rates and APRs are available through a Participating Lender.

    California Homebuyer’ Downpaymennt Assistance Program (CHDAP)

    Interest Rate

    What is the interest rate?
    Interest rates will vary depending on your financial circumstances, lender fees, and other factors. Interest rates can also change daily. We recommend that you check with a CalHFA-approved loan officer to receive an accurate rate quote for this program.

    CalHFA does not lend money directly to consumers. CalHFA works through and uses approved private lenders to qualify consumers and to make all mortgage loans. CalHFA purchases closed loans that meet CalHFA’s requirements. The fees consumers pay could be different depending on the lender and the program. View the sample Truth in Lending disclosure here.

    Homebuyer Education Requirement

    CalHFA firmly believes that homebuyer education is critical to the success and happiness of a homeowner, and requires homebuyer education for first-time homebuyers using a CalHFA program. CalHFA will accept hard or online copies of homebuyer education counseling certificates.

    Who has to take this Homebuyer Education course?

    Only one occupying first-time borrower on each loan transaction.

    How do I take this education course?

    How To Apply

    How do I apply for this loan program?
    Since CalHFA is not a direct lender, our mortgage products are offered through private loan officers who have been approved & trained by our Agency. These loan officers can help you find out more about CalHFA’s programs and guide you through the home buying process.

    Visit the Find a Loan Officer tab, to contact a loan officer in your area.

    What documents should I have ready when contacting a loan officer?
    When initially contacting a loan officer, you may want to have this list of documents and information available to help answer questions that they will ask you:

    • Pay stubs
    • Bank statements
    • Employment history
    • Previous tax returns