Borrower must meet the following requirements:

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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 640.
   

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

 

• First time home buyer's only.

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Grant Funds Available from GSFA:

 

• May not exceed 5% of the First Mortgage Loan amount on Conv, FHA, or VA Loans.
   

• 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