August 6, 2018 | Bulletin #18-16
Announcing Platinum “Select” Feature with Down Payment Assistance in the Form of a Gift
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.

Lenders should refer to the GSFA Platinum Term Sheets, published online in the GSFA Platinum Participant Guide for complete program guidelines.

Additional Resources:

Updated Income Limits for Platinum Program
The income limits for the GSFA Platinum Program have been updated and available online at

Updated Income Limits for the GSFA Affordable Subsidy
The income limits for the GSFA Affordable Subsidy have been updated, and are available in the GSFA Affordable Subsidy Promo Term Sheet, published online in the GSFA Platinum Participant Guide.

The GSFA Affordable Subsidy is an additional incentive available to low income borrowers who are purchasing a home with Conventional financing through the GSFA Platinum Program. The GSFA Affordable Subsidy is an on-going promotion.

How Much is the Subsidy?
  • $2,500 for Qualifying Income ≤ 50% AMI
  • $1,500 for Qualifying Income ≤ 80% AMI

What Can the Subsidy be Used For?
It can be used towards the down payment and/or closing costs. (No cash back to borrower.)

Additional Resources:

© 2018 Golden State Finance Authority. All rights reserved.

Lender Bulletins are intended for mortgage professionals only. This is not an offer for extension of credit nor a commitment to lend and is subject to change without notice. Complete program guidelines, loan applications, interest rates and annual percentage rates (APRs) are available through GSFA Participating Lenders.

Stay Connected
Call us toll-free
(855) 740-8422
Visit us at