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Ready to Buy a Home? CA, OR & WA Down Payment Grant (No Repayment) Up to 5% is Available For You!

October 23, 2015


There are many down payment programs available to Californians and Washingtonians.  One great program is the NHF Sapphire Program and NHF Platinum Program, which is designed to provide down payment assistance in conjunction with the purchase of a primary residence. The down payment assistance is currently in the form of a “Grant” – no repayment needed!

The Program is designed to increase homeownership opportunities for low-to-moderate income individuals and families in California. Here is how it works:

  • Receive Up to 5% of the First Mortgage (base) Loan amount;
  • Proceeds may be used for down payment and/or closing costs;
  • Seller can still credit buyer up to 6% of the closing costs, which will allow the buyer to use grant to do a loan at 95% LTV, which reduce the PMI from .85 to .80 and lower the rate on the first mortgage to save even more money
  • There must be no cash back to the borrower from the Grant Fund proceeds; The Down Payment Assistance structure is subject to change during the course of the Program.
  • Lenders upfront the grant at closing to be reimbursed by the Servicer, on behalf of NHF, upon purchase of the Sapphire First Mortgage
  • MCC can be used in conjunction with Sapphire to help bring the debt to income ratio down and many counties are offering MCC
  • Debt to Income ratios: Up to 50% Conventional and 45% FHA
  • Occupy the residence as their primary residence; non-occupant co-borrowers are not allowed.
  • Qualifying income cannot exceed NHF income limits for the county in which the property is located: 115% Area Median Income (AMI). Refer to 2015 CA Income Limits: NHF Sapphire® Down Payment Assistance Program and 2015 WA income Limits: 2015 Income Limits NHF Platinum® Down Payment Assistance Program
  • Minimum Credit Score of 640 3% and 4% Grant and 660+ 5% Grant
  • Meet all required FHA and Conventional underwriting criteria
  • Maximum loan amount: The lesser of $424,000 (not including MIP) or maximum loan amounts permitted by HUD.
  • Homebuyer Education Required for one borrower if all borrowers are first time homebuyers. HBE course must be completed prior to closing. See CreditSmart Homebuyer Education: Eligible Properties:  Single Family Residence, Approved Condo, PUD or Manufactured Home
  • Borrower can own other real estate
  • Can be combined with other down payment funding sources.

Fees and Charges:

  • Origination Fee/Discount Points: Up to 2% upfront
  • Sapphire Agency Fee up to $350 (which can be paid at closing with most lenders)
  • Lender may charge customary and reasonable closing  costs and fees with full disclosure in accordance with FHA, Conventional and federal, state and local laws and regulations.

If you have a loan scenario email us at

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