GSFA Programs

The Golden State Finance Authority (GSFA) offers a down payment assistance program and a tax credit certificate to help potential homeowners with the costs of home ownership.

Down Payment Assistance (GSFA Platinum® Program):

GSFA provides down payment assistance, currently in the form of a non-repayable grant, sized up to 5% of the first mortgage amount.

The GSFA Platinum® Program is available for purchase or refinance of a primary residence anywhere in California and there is no first-time homebuyer requirement to qualify.

  • The grant can be used for down payment or closing costs and does not need to be repaid.

  • 640 FICO minimum.

  • Grant can total up to 5% of the loan amount. (For example, a $250,000 loan amount could provide a non-repayable grant of up to $12,500).

  • Income limits apply.

  • Reduced mortgage insurance rates when using a Conventional 1st mortgage.

  • For refinances, the grant can be used to pay down some of the principle balance. This may help certain homeowners eliminate mortgage insurance depending on their LTV percentage.

Tax Credit Certificate (MCC):

GSFA provides a tax credit certificate to qualifying homebuyers through the issuance of a Mortgage Credit Certificate (MCC). With an MCC, 20% of the interest paid on the mortgage can be used as a special tax credit each year for the life of the mortgage. Even if you do refinance in the future, you can reapply for the MCC to continue to receive the annual tax credit. The MCC is available to First Time Homebuyers who meet income and sales price limits.

The MCC can lower your annual tax bill dollar for dollar.

To learn more:

Learn more on GSFA’s website: GSFA is a state run agency.

To begin a loan application or speak with a loan officer, please visit our Locations page to find a branch closest to you.