June 29, 2023 | Bulletin #23-09
GSFA Platinum Program Update
Effective July 3, 2023 for Conventional loan transactions under the GSFA Platinum Program, DTIs up to 50% will be allowed, with FICOs 640 and higher and AUS Accept/Approve, (1-2 unit properties and purchase transactions only). This update applies to all new reservations made on or after July 3, 2023.

No changes have been made to existing guidelines for 3-4 unit properties or manufactured housing.

Program Term Sheets have been updated and are available online.

Additional Resources
Announcing the NEW "Golden Opportunities"
DPA Program Coming July 17, 2023!
We have some exciting news to share —
A NEW Down Payment Assistance Program called "Golden Opportunities" (GO Program) is coming soon!

The GO Program will provide DPA up to 5% of the Total 1st Mortgage Loan Amount in conjunction with Government financing. The DPA will consist of a 3.5%-sized 15-year, fully amortizing 2nd Mortgage with an optional Gift sized up to 1.5%.
Guidelines for "GO Program"
Below are a few of the guidelines for the "GO Program", highlighting some of the Program's flexibilities.


Minimum FICO Score
  • FHA and VA: 620*
  • USDA: 640

*FICO 620-659 and/or DTI > 45% will be subject to Loan Level Price Adjustment of 50 bps.

Maximum DTIs
  • FHA, VA and USDA: 55% with AUS Approval
  • Manual Underwriting:
  • FHA not allowed
  • VA: 41%
  • USDA: 41%

For complete Program Guidelines for the NEW GO Program, visit the GO Program Lender Participation Guide.
Lender Participation for
"GO Program"
In order to offer and originate Mortgage Loans through the GSFA "GO Program", Lenders must go through an approval and setup stage to verify that the Lender is capable of handling the responsibilities associated with originating loans on behalf of GSFA.


Step 1:
Approval as a Correspondent Lender with The Money Source (TMS) the "GO Program" Master Servicer.

For questions and New Lender Approvals with TMS, contact: hfaprograms@themoneysource.com.

Step 2:
Execute and return to GSFA the following documents located in the GO Program Lender Participation Guide:

  1. Program Lender Agreement
  2. Lender Profile

The GSFA required documents outlined above must be signed by an authorized officer within the company.

We are always striving to provide the best down payment assistance programs possible and hope that the added flexibilities in the NEW "GO Program" will help you expand your business while extending more homeownership opportunities to Californians.
Join Us for Lender Training
Training for GSFA Platinum & NEW "GO Program" Available
We want you to understand the GSFA Down Payment Assistance Programs, including recent changes and enhancements.

Please join us for a live Lender Training webinar.

Learn about:
  • The latest program updates.
  • Advantages of DPA for both client and lender.
  • Key dates and steps in the loan process.
  • Marketing tools and much more.
Various dates and times are available. Click on the event of choice, then click the "Register at" link in the description to reserve your virtual seat.
© 2023 Golden State Finance Authority. All rights reserved.

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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