Down Payment Assistance
Down Payment Assistance
We're Here to Help You Achieve the Dream!
Buying a home is one of the most significant financial decisions you’ll ever make, and the process can often feel overwhelming. Golden State Finance Authority (GSFA) is here to simplify it with financial assistance programs that can help cover your down payment and/or closing costs.
Down payment requirements typically range from 3% to 3.5% of the first mortgage loan amount, while closing costs can vary from 2% to 5%, and when you factor in insurance and tax escrow fees, the costs to buy a home can quickly add up. For instance, on a $400,000 mortgage, the combined down payment and closing costs could easily exceed $20,000. For many, saving that amount can take years. That’s where GSFA comes in, offering several programs designed to give California homebuyers a boost, often helping them purchase a home sooner than they thought possible.
GSFA —Where Affordability Meets Flexibility®
Program Highlights1
- No first-time homebuyer requirement
- Perfect credit is not required
- Variety of mortgage loan types available
- Purchase throughout California
"The American Dream" Golden State Finance Authority.
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Want to Learn More?
To learn more about our individual Down Payment Assistance Programs, click the link to the program of interest.
When you are ready to apply or have specific questions, reach out to one of our Participating Lenders. Our lenders will provide complete program guidelines, interest rates, and APRs, and help you make the right decision for your specific situation and needs.
1 Program highlights only. Complete program policies, eligibility requirements, loan applications, interest rates and annual percentage rates (APRs) are available through GSFA Participating Lenders.
What People Say?
It was quick and easy…
We had started planning for purchasing a home a year in advance but we were slow on the saving up for the down payment, as well as have enough left over in regular savings. Through research online and meeting with a loan specialist, we learned that we qualified for assistance and did not need the large sum of money we thought we did. With the forgivable loan from GSFA, we were able to realize our dream of being homeowners. It was quick and easy and before we knew it, we had already closed on our home. We are so happy with our purchase and GSFA was able to make that happen.
— Toulue ThaoSacramento County, February 2021
GSFA Platinum Program
I was helped with down payment assistance.
It is with much enthusiasm that I am writing to recommend the services of GSFA. It if wasn't for them I probably wouldn't have been able to even think about purchasing my home. So they really helped me a lot. I am very happy and excited! Thanks, GSFA.
— Selita BlancoSan Bernardino County, August 2021
GSFA Platinum Program
Amazed there was anyone out there willing to help…
We would most definitely recommend the program to others and we would tell them, 'There is a wonderful program that wants to help you own your own home and are willing to gift you the money. Really, this is a true story, it happened to us, ask your lender to look into it, it is a blessing.'
— Guide and Joyce BassiPlumas County, March 2018
GSFA Platinum Program
Home sweet home…
We were super blessed that with your donation you made it possible to finally provide a family in need a place to call home.
— Juana VeraLos Angeles County, March 2018
GSFA Platinum Program
We prayed to God to offer us an opportunity with our children.
We lived in Florida, Arizona, Washington, and Colorado and me and my wife were first generation trying to create that American Dream! It was almost impossible to afford a home in the Bay Area. We were paying $2,100 for a 1-bedroom apartment in the San Jose area. When COVID hit, homelessness was everywhere, people were being evicted and everyone seemed to be in survival mode. With our 2 children, there just was not enough space! Your grant made our dreams come true.
— Edwin MirandaSan Joaquin County, February 2021
GSFA Platinum Program
This has been a life changing event.
Our move here has impacted people in this community. My son is severely disabled. I could not care for him on my own as I worked tirelessly and then manage his medical issues, schooling, and behaviors. I was overwhelmed as a single mom. But, this home, this place has given me the opportunity to be home and manage. In turn, he has progressed. He has given his teachers a new perspective, his classmates compassion and the community inspiration and respect for others they may have never had before we moved here.
— Melanie ChristianPlumas County, March 2018
GSFA Platinum Program
Life has changed for the better.
I would have never believed that I could ever buy a cond[o]. I love having this 3-bedroom, 3 bath home with 1,821 sq ft on a 2,911 sqft lot that was estimated at $282,000. I thank Golden State Finance Authority Platinum Down Payment Assistance Program for their help to offset my down payment. I felt that I had attained the American dream, which I had heard about, but never believed that I could accomplish, being a black man born and raised in the projects in Detroit.
— Marvin RandolphSan Bernardino County, February 2021
GSFA Platinum Program
Next entered our Angels…
Without your program we would still be renting and trying to saving the 3.5% or more that was required for the down payment. As you are aware that can become a monumental task on low income or retirees such as ourselves. Thank you for the work that you do for folks like us.
— Greg & Christine JeffersonSacramento County, July 2018
GSFA Platinum Program
Completely elated and excited…
Being a young adult woman in the U.S. Navy I never thought it would be possible to buy a home. My plan was to use the VA home loan with no downpayment. When I realized they wouldn't appraise the house I wanted I was stuck in a pickle. When my loan officer told me about GSFA I was shocked. I went from being completely unprepared and worried about the closing costs to completely elated and excited. Being a first time homebuyer is a very stressful process but thanks to you it turned out very smooth.
— Bridgett WeimerSan Diego County, November 2021
GSFA Platinum Program