April 18, 2022| Bulletin #22-05
Update Concerning Current Market Conditions Affecting Available DPA Options
GSFA Participating Lenders,

Given the volatility in the markets recently, some of our rate options may not be available every day, for both the GSFA Platinum® and GSFA OpenDoors® Down Payment Assistance Programs.

Please check the rates daily to stay up-to-date on what down payment assistance options and rates are available.

We hope the market volatility will lessen soon so that all options and rates will be available once more.
NEW DPA Program for GSFA Member County Employees Coming Soon!
GSFA works hard to adapt to the changing needs of homebuyers and the real estate market conditions, which is why we are excited to announce new down payment assistance specifically to help County Employees in GSFA Member Counties of California purchase a home in the same county they work in.

The NEW GSFA Member County "Assist-to-Own Program" will feature 3.5% in down payment assistance COMBINED WITH highly competitive interest rates on the First Mortgage Loan.

Some of the features will be as follows (subject to change):
  • 3.5%-sized DPA Second Loan with Zero interest; no payments.
  • DPA Second Loan will be due and payable when the home is sold, refinanced, or the mortgage term ends.
  • FICO Scores as low as 640 will qualify.
  • No First-time homebuyer requirement.
  • Available in 36 Counties of California (GSFA Member Counties).

Stay tuned!

We will announce more as we get closer to the launch date.

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Program 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.

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