GSFA Platinum® — Down Payment Assistance Program

Provides Down Payment Assistance in the form of a Gift or Forgivable Second Loan

What Can the GSFA Platinum Program do for Homebuyers?

The GSFA Platinum Program helps low-to-moderate income homebuyers in California purchase a home by providing down payment and/or closing cost assistance (DPA).

Program Highlights(1)

  • Financial assistance up to 5%, to use for down payment and/or closing costs.
  • Homebuyer doesn't have to be a first-time homebuyer to qualify.
  • Flexible income limits (low-to-moderate income).
  • Various first mortgage loan types available to fit the needs of the homebuyer
    (FHA, VA, USDA and Conventional financing)


Does the DPA Have to be Paid Back?

For many homebuyers, the assistance is provided as a zero percent Second Mortgage. The Second Mortgage accrues no interest, has no monthly payments and is completely forgiven after three (3) years from the close of escrow.

For Platinum "Select" qualifying homebuyers, the assistance is provided as a gift, that never has to be repaid. FHA Energy Efficient mortgage loans, USDA guaranteed home loans, along with a variety of public safety and education occupations, can qualify the homebuyer for DPA as a gift.

How Does a Homebuyer Apply for GSFA Platinum?

First, the homebuyer(s) must meet GSFA's specific qualifying guidelines for the Program which include the following(1):

  • Borrower must meet income-eligibility.
  • Property being purchased must be used as a primary residence.
  • Minimum FICO is 640 | Maximum DTI is 45%.

GSFA Platinum is designed to be flexible and accessible, which is why it is not not limited to first-time homebuyers. Whether someone owned a home in the past or not, they can apply for the Program.


Second, the homebuyer(s) must apply for the Program through a GSFA Platinum Participating Lender and meet all the qualifying guidelines for the type of mortgage loan being used to finance the purchase of the home.

Conventional, FHA, VA, and USDA 30-year mortgages are allowed. Current interest rates and APRs are available through a Participating Lender.

(1) Certain restrictions apply on all programs. See a GSFA Platinum Participating Lender for complete program guidelines, current interest rates, loan applications, applicable fees and annual percentage rates (APRs.)


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