For more than 26 years, GSFA has provided affordable homeownership programs in California, with a special focus on offering down payment and closing cost assistance (DPA) to homebuyers in the low-to-moderate income arena. We work hard to innovate and expand our programs to stay competitive and offer the best features and options. So, it is with excitement that we announce that GSFA will be adding another DPA program called "GSFA OpenDoors" to our menu of affordable homeownership programs this summer.
GSFA OpenDoors is designed to provide up to 7% in down payment and/or closing cost assistance in conjunction with FHA, VA, USDA and Conventional financing. It will feature some enhancements to credit score requirements, debt-to-income ratios and pricing. Complete program guidelines and Lender participation documents will be available when the program is officially available. The Program will be available to Correspondent Lenders of Gateway Mortgage Group as the Program's Master Servicer.
Get Prepared - Join us for a Live Lender Training
on GSFA OpenDoors and More
Golden State Finance Authority (GSFA) is hosting live lender trainings in May and June throughout the state to teach mortgage professionals about GSFA’s down payment assistance (DPA) programs and other loan products.
Learn guidelines and qualifications, walk through our simple, no-hassle loan origination process and leave with the tools to market and promote programs to your clients.
If you are a Mortgage Loan Originator, Loan Processor or Realtor ready to kick off new business, this training is for you!!!
Training Topics:
- GSFA’s NEW OpenDoors™ Down Payment Assistance Program
- GSFA Platinum® Down Payment Assistance Program
- GSFA MCC® Tax Credit Program
- FHA Energy Efficient Mortgage (EEM) Product
- Freddie Mac HFA Advantage Product
