GSFA OpenDoors® — Down Payment Assistance Program

Provides down payment and closing cost assistance, up to 7% of the Mortgage Loan

What can the GSFA OpenDoors Program Do for Homebuyers?

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 requirment and the qualifying guidelines are flexible.

Program Highlights(1)

  • Financial assistance up to 7%, to use for down payment and/or closing costs.
  • Homebuyer doesn't have to be a first-time homebuyer to qualify.
  • Perfect credit not required. FICO Scores as low as 620 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)


Does the DPA Have to be Paid Back?

The down payment and closing cost assistance for the GSFA OpenDoors Program is provided in the form of a Deferred DPA Second Mortgage combined with a DPA Gift, for total assistance available up to 7%.

The Deferred DPA Second Mortgage has a 30-year term and a zero percent note rate. It accrues no interest, has no monthly payments, but does have a repayment requirment. The amount of DPA provided as a Deferred Second Mortgage is due and payable upon sale, refinance or payoff of the First Mortgage.

The amount of DPA provided as a Gift does not have to be repaid.



(1) Program Highlights only. GSFA OpenDoors Participating Lenders can provide complete program guidelines, current interest rates, loan applications, applicable fees and annual percentage rates (APRs.)

Contact Us for more information or a referral to a GSFA OpenDoors Participating Lender.


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