Golden State Finance Authority (GSFA) is pleased to announce the Platinum “Select” feature, our latest addition to the GSFA Platinum Program.
Effective immediately, GSFA Platinum borrowers who qualify for the Platinum “Select” feature, will be eligible for Down Payment Assistance (DPA) in the form of a non-repayable Gift instead of a Second Mortgage.
The following First Mortgage Loan Types are eligible for the Platinum “Select” feature:
- FHA Energy Efficient Mortgage (EEM); and
- FHA, VA or Conventional Mortgages where borrower has one of the following occupations in California:
- Peace Officers, Sheriff, Border Patrol Agents, Correctional Officers and others serving in a Law Enforcement capacity;
- Firefighters, CalFire, paramedic, and Emergency Medical Technicians (EMTs), including administrative staff that supports firefighters; or
- Current members of the California State Teachers Retirement System (CalSTRS) or University of California Retirement Plan (UCRP), employees of a California accredited Private, Charter or Public School District or California State University, Junior College or Private College, including school administration and staff.
Lenders are required to upload documented evidence of a borrower’s eligible occupation within five (5) business days of submitting a loan reservation online. Acceptable file formats include .pdf, .bmp, .gif, .jpg, .jpeg and .img.
Additional Resources:
