Down Payment Assistance

Down Payment Assistance

We're Here to Help You Achieve the Dream!

Down payment assistance programs provide prospective homebuyers with money to help them pay for a down payment on a home purchase. Some programs, such as GSFA's, may also help with closing costs, which are the fees and charges you pay when you finalize your mortgage.

Closing costs can total between two and five percent of the loan principal (and more when you factor in the escrow for insurance and taxes). For instance, on a $400,000 mortgage loan, the closing costs could be upwards of $8,000 or more. If all of your available cash is going to your down payment, you might need help paying for closing costs too.

The GSFA Advantage

When you purchase or refinance using one of GSFA's homebuyer assistance programs, you can obtain down payment and closing cost assistance at the same time that you qualify for your first mortgage loan. This assistance, often referred to as DPA, can be used towards your down payment and/or closing costs, or to reduce the principal balance on the first mortgage loan (which, in turn, can lower your monthly payment).

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.

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