The Power Is Now HUD Homes Magazine

GSFA

Down Payment Assistance

You could qualify for $10,000 in down payment assistance*.

• Down Payment Assistance (DPA) Second Mortgage is forgiven after three (3) years.

• DPA has a zero percent interest rate and no monthly payments.

• DPA is available with purchase or refinance of a primary residence.

• Variety of mortgage types are available.

• Borrower doesn’t have to be a first-time homebuyer to qualify.

• Minimum FICO 640; Maximum DTI 45%.

• Flexible Income Limits.

We Want to Bring You One Step Closer to Owning Your Own Home

Thousands of people each year dream of becoming homeowners. Let us help that dream become reality.

The GSFA Platinum Program provides eligible borrowers with DPA in the form of a zero interest, no monthly payment Second Mortgage that is forgiven after three (3) years.

The DPA is sized up to 5% of the total loan amount and can be used towards down payment and/or closing costs*.

Many times the assistance can help a homebuyer purchase a home with little-to-no money out of pocket and/or much sooner than thought possible.

The program is very flexible. Eligible mortgage loans include FHA, VA, USDA and Conventional mortgages, and the income limits are flexible.

Ca ll today to get started.

1215 K Street, Suite 1650, Sacramento, CA 95814 phone: (855) 740-8422 fax: (916) 444-3219 e-mail: info@gsfahome.org web: www.gsfahome.org

Image by Bernie Kleina

Where Starting Over happens every day!

We’re Starting Over, Inc. a 501(c)(3) organization dedicated to supporting and uplifting people experiencing the effects of mass incarceration, systemic racism, housing insecurity, substance addiction, and mental health issues. We believe that people impacted by these issues

are the ones closest to the solutions, which is why we are a Black led and criminal justice impacted organization engaged in this work From experience, we’ve learned that housing is critical, but alone, it is not enough to support those exiting prisons or the streets. We not only provide transitional housing, but also include holistic services such as peer support, case management, employment, wellness, and re entry services. We also work to address the root causes of our houseguests’ difficult situations, leading grassroots organizing and policy initiatives in the Inland Empire region and statewide. Established in 2009, we’ve served over 1,400 men, women, and families in Riverside and Los Angeles Counties through the re entry and transition process

We believe that the past does not define our future. We’re invested in creating safe and equitable opportunities for all members of our community, and especially those with past convictions. Housing opportunities are crucial for our community members and directly affect their ability to thrive.

Starting Over, Inc is committed to reducing and eliminating the many barriers to life after incarceration

We have a deep commitment to identifying and implementing evidence based approaches to strong communities and families. We seek to creating program/project solutions where the need exists in our community. We do lots of things at Starting Over, Inc. but our primary goal is to address the immediate effects and root causes of incarceration, be it through housing, employment, legislation, or community organizing.

T t i l d ith i itiatives, access our services, or support our work through donations, you can or office@startingoverinc.org.

Down Payment Assistance Gift for “Select” Occupations

The GSFA Platinum Program provides eligible borrowers with Down Payment Assistance (DPA) up to 5% of the first mortgage loan amount.

can be used towards down payment and/or closing costs

many times the assistance can help a homebuyer purchase a home with little-to-no money out of pocket.

The DPA is provided as a Gift that never has to be repaid for the following “Select” occupations

staff

administration

staff

public and private).

all other homebuyers, the DPA is a 0% Second Mortgage, forgiven after three years.)

want to help you achieve the dream of owning your own home.

K Street, Suite 1650, Sacramento, CA 95814 phone: (855) 740-8422 e-mail: info@gsfahome.org web: www.gsfahome.org

Do you know

Peppermint Ridge?

residents to live their lives and fulfill their dreams

and encourage

fully embracing their indvidual abilities and interests. With 24-hour specialized care and staff ing, we provide comfortable, secure homes and recognize that everyone feels a sense of belonging when they have familiar places in which to spend time with family and friends.

a true sense of family at Peppermint Ridge. Of the 94 adults who live at

38 have lived here for more than 20 years, with 10 of those calling The Ridge home for 40 years or more. Residents have the opportunity to flex their muscles of independence while developing rich lives of their own away from their loved ones. About 30% of our residents have no family, so other Ridgers and our staff have become their family.

Michael L. Iraq War Veteran

LOUISIANA

MASSACHUSETTS

MARYLAND

NEVEDA

GOOD NEIGHBOR NEXT DOOR PROGRAM

Law enforcement officers, teachers (pre-Kindergarten through 12th grade) firefighters and emergency medical technicians can contribute to community revitalization while becoming homeowners through HUD’s Good Neighbor Next Door Sales Program. HUD offers a substantial incentive in the form of a discount of 50% from the list price of the home. In return, an eligible buyer must commit to live in the property for 36 months as his/her principal residence.

How the Program Works

Eligible Single Family homes located in revitalization areas are listed exclusively for sale through the Good Neigh bor Next Door Sales program. Properties are available for purchase through the program for seven days.

How to Participate in Good Neighbor Next Door

Check the listings for your state. Follow the instructions to submit your interest in purchasing a specific home. If more than one person submits an offer on a single home a selection will be made by random lottery. You must meet the requirements for a law enforcement officer, teacher, firefighter or emergency medical technician and comply with HUD’s regulations for the program.

HUD requires that you sign a second mortgage and note for the discount amount. No interest or payments are required on this “silent second” provided that you fulfill the three-year occupancy requirement.

The number of properties available is limited and the list of available properties changes weekly.

MEXICO

NORTH CAROLINA

DAKOTA

OKLAHOMA

PENNSYLVANIA

RHODE ISLAND

SOUTH CAROLINA

SOUTH DAKOTA

TENNESSEE

TEXAS

UTAH

Guaranteed Home Loan

You May Qualify for a Gift up to Four Percent

Individuals or families purchasing a primary residence in California with a USDA Rural Development loan guarantee through the GSFA Platinum Program will be eligible for assistance of up to four percent in the form of a non-repayable gift.

The amount of the gift is based on the amount of the mortgage loan. The gift can be used towards closing costs and/or for principal reduction.

USDA’s guaranteed home loan features 100 percent financing and is available to low-to-moderate income homebuyers in rural areas, typically communities with populations of 35,000 or fewer. Coupled with the GSFA Platinum Program, qualifying homebuyers may be able to purchase a home with no money out of pocket.

Golden State Finance Authority (GSFA) phone: (855) 740-8422 e-mail: info@gsfahome.org web: www.gsfahome.org