San Diego GSFA Down Payment Assistance Program (2019 Update)

The GSFA Platinum Program was built to help people pay for the down payment and even some of the closing costs that are associated with purchasing a home.

This program is just for California, which means that those looking outside of California won’t be able to take advantage of the program and the gift that it can give to people.

However, if you are looking for a house in California, you should check out this program and see if it will help you in your house hunting needs.

Here's a quick rundown of our list:

Who Needs This Program

San Diego GSFA Down Payment Assistance Program (2019 Update)

This particular program isn’t made for everyone.

The program isn’t a loan.

In fact, it is a gift that can be given to people that have low to medium income.

The gift is meant to be used towards the down payment and even the closing costs.

The program can help those that aren’t always able to build up the savings to put down the money for the home.

The gift will typically cover 5% of the amount that you are borrowing in the loan.

This might not cover the entirety of the down payment, but it can definitely be a much-needed boost or relief when you are in the process of trying to pay for a home.

Must Read: San Diego Down Payment Assistance Programs - Rates, Terms, Limits...

Who Can Apply?

There are some restrictions to those that can apply.

You will need to meet a number of requirements in order to qualify for the program.

  • A debt to income ratio that is equal to or less than 45%

  • Have a minimum credit score of 640

  • An income that is equal to or below the limit


This number will depend on the county you live in as well as the type of loan that you are getting.  The FHA, VA, and USDA have the same limit while Freddie Mac has a different limit.

In addition to these requirements, you will need to go through a lender that is qualified to help you get into the program.

While you might be concerned about finding a lender that will be willing to do this, but the people on that list are numerous.

San Diego Homeowners: We have qualified buyers desperately seeking to buy immediately and pay top dollar…

There are major names and smaller names, so there will be plenty of places for you to go to get into the GSFA Platinum Program.

As well, if you use GSFA’s website, you will even be able to check the income limits that you will need to meet in order to be qualified to be part of the program.

As we are focused on the San Diego market, the numbers you will need to know are $91,195 and $117,600 for the FHA-VA-USDA and conventional loan types respectively.

The difference between the numbers comes from the different ways of getting that first mortgage, so keep it in mind while you are crunching numbers and looking at your income.

You might wonder why there are so many caveats on a wonderful program like this and that is because there are only a limited number of people that they can help out.

They want to help people that don’t make a ton of money but are doing everything right which is why they look for people with higher credit and lower debt.

This makes sure that the money is being used by those that are doing the right things for their future.


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What Kind of Property Qualifies

San Diego GSFA Down Payment Assistance Program (2019 Update)

There is very little that will prevent a property from qualifying.

There are a couple of big things to keep in mind and some of the requirements will depend on where your original loan is coming from.

Need Money? Whether you are a first time home buyer, currently own, or have owned in the past – you can get money to cover your down payment and closing costs – see the best programs now…

So you will want to abide by those rules first, then consider the obligations that come with the program.

The first obligation is that this house has to be purchased with the intent for it to be your primary residence.

This means that you will be living in it as soon as it is purchased.

This also means that you can’t use this program when you’re looking at a second home, a vacation home, or for homes that you intend to rent out.

However, it doesn’t really matter if you’re buying a home that already exists or if you’re planning on getting a house built.

As long as you’re going through the right channels, your home can qualify for the GSFA program.

However, despite the fact that there a variety of homes that qualify, there is one last requirement that you will have to take into account.

That is the size of the original loan that you got for the home.

The reason that there is a maximum is because the program gives out money not based on a set number, but based on the size of the loan that you are intending to take.

The largest loan amount you can get and still qualify for the GSFA program is dependent on the limits of the loan that you are getting and even that can depend on the county that you are in.

If you are uncertain about the loan limits in San Diego, you can always contact me where I can help you get the information and on the right track to having a better time with getting your house put together.

Apply Now: Why wait? Apply online 24/7 using our secure loan application, from any computer or device, and let Scott find the best loan options based on your needs – takes less than 10 minutes…

However, you will want to make sure that you are getting a loan that is $612,950 or less.

That is the maximum that the gift will cover the gift for, regardless of the percentage that you get.


Getting assistance from GSFA’s program to help with down payments can really be a great gift for some people.

This can be incredibly helpful for those that have made all of the right choices but are just struggling to get everything lined up for that down payment.

Of course, you might have more questions about what’s going on with the GSFA program, but I have information about the loan limits, answers to some commonly asked questions, and some pros and cons about the program.

I encourage you to take a look at everything see whether or not the GSFA down payment assistance program is right for you.

What do you think?

Leave your comments below – or text/call me at (760) 297-4539

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