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Down Payment Gift for Health Care, Public Safety and Educational Occupations

GSFA Platinum borrowers with certain occupations are eligible to apply for a DPA Gift instead of a Second Mortgage. The DPA Gift never has to be repaid.

Qualifying occupations in CA include:

Medical and Healthcare workers;
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; and
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.

Program Highlights

Financial assistance for down payment and/or closing costs (Now up to 5.5%).
Homebuyer doesn't have to be a first-time homebuyer to qualify.
Perfect credit not required. FICO scores as low as 640 can qualify.
Flexible income limits (low-to-moderate income).
Various first mortgage loan types available to fit the needs of the homebuyer
(FHA, VA, USDA and Conventional financing)

The GSFA OpenDoors Program helps low-to-moderate income homebuyers in California purchase a home by providing down payment and/or closing cost assistance (DPA), up to 7% of the First Mortgage Loan amount. On a $300,000 Mortgage Loan, 7% in assistance is $21,000.

The program is limited to owner occupied primary residences only. There is no first-time homebuyer requirement and the qualifying guidelines are flexible.