GSFA Platinum® Down Payment Assistance Program

Homeownership May be Just Around the Corner

What Can the GSFA Platinum Program Do For Homebuyers?

The GSFA Platinum Program was created to help low-to-moderate income homebuyers in California purchase a home by providing down payment and/or closing cost assistance (DPA), currently in the form of a forgivable Second Mortgage.

Since 2010, GSFA Platinum has helped 23,100 people to purchase homes, providing more than $531.7 million in down payment assistance.

Features at a Glance(1)

  • DPA in the form of a Second Loan, with no interest and forgiven after 3 years;
  • No first-time homebuyer requirement;
  • Minimum FICO 640 / Maximum DTI 50%;
  • Generous Income Limits / higher than you might expect;
  • FHA, VA, USDA and Conventional Mortgage Loans available; and
  • Purchase and refinances of primary residences are eligible


The DPA Second Mortgage accrues no interest, has no monthly payments and is completely forgiven after three (3) years from the close of escrow. It can be used towards down payment and/or 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 homebuyer. 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.

How Does a Homebuyer Qualify for the Program?

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

  • Intend to occupy the home as the primary residence;
  • Qualifying income (total income used to qualify for the mortgage) must not exceed Program Income Limits;
  • Meet the minimum credit score requirement of 640; and
  • Not exceed the maximum debt-to-income ratio of 50%.

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.


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(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.)