Borrower must meet the following requirements

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• No requirements for First Time Home Buyer

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• Occupy the residence as their primary residence; non-occupant co-borrowers are not allowed.
   

• Borrower income cannot exceed GSFA income limits for the county in which the property is located: 120% Area Median Income (AMI). Refer to www.gsfahome.org
   

• Minimum Credit Score of 620.
   

• Meet all required Conv, FHA, VA, USDA-RHS underwriting criteria.

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Grant Funds Available from GSFA

 

• The grant can go up to 5% of the total First Mortgage Loan Amount based on Fico score.
   

• Proceeds may be used for down payment and/or closing costs
   

• There must be no cash back to the borrower from the Grant Fund proceeds
   

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