California Down Payment Assistance

Down Payment Assistance (DPA) through the GSFA (Golden State Finance Authority) Platinum Program assists buyers in obtaining a mortgage to purchase new or existing homes. The GSFA Home Buying Program offers a competitive fixed rate mortgage loan for qualified buyers up to a 5% grant for down payment assistance and 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 home buyer. 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.

Down Payment and Closing Cost Assistance Program

  •  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 50%.
    • Generous Income Limits.


More Great News

The great news about the GSHA Down Payment Assistance Program is that there is no first-time home buyer requirement. This means that previous home owners can still take advantage of all the amazing features this program offers. Home buyers are able to use this program to purchase homes throughout California, so buyers are free to search homes that fit them best.

The GSFA Platinum Program provides eligible borrowers with DPA in the form of a forgivable Second Mortgage. 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 overcome the down payment hurdle and lead to a homebuyer purchasing 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 generous.
Find out how much down payment assistance you can receive with this create program.  Just another way to over come your down payment hurdle.