Buying a home in California can feel out of reach, even with steady employment. For many county employees, the biggest hurdle isn’t qualifying for a mortgage, it’s coming up with the cash needed for the down payment and closing costs.
That’s exactly where the GSFA Platinum Assist to Own program comes in.
This down payment assistance program is specifically designed for employees of GSFA member counties throughout California, including Shasta County, and can provide meaningful help with upfront homebuying costs without adding a monthly payment.
If you’re a county employee in Shasta, Tehama, Butte, Siskiyou, Trinity, or Lassen County, this is one of the most important programs to be aware of.
The Golden State Finance Authority (GSFA) Platinum Assist to Own program is a California down payment assistance option created for employees of participating member counties.
The program provides assistance in two parts:
Primary Down Payment Assistance
Additional Gift Funds for Down Payment and Closing Costs
Together, these can cover a significant portion of the upfront cash needed to buy a home. Combine that with a seller credit and you may be able to get your home with close to $0 out of pocket.
The primary assistance is provided as a deferred second mortgage equal to 3.5% of the first mortgage loan amount. (3% for Conventional Loans)
Key features of this second mortgage:
0% interest
No monthly payments
No interest accrues over time
The balance does not increase while you own the home.
This second mortgage is repaid only when the home is sold or refinanced. Until then, it simply sits in second position without impacting your monthly housing payment.
On top of the deferred second mortgage, eligible buyers may receive additional down payment and closing cost assistance in the form of a gift, up to 2% of the first mortgage loan amount, subject to market conditions.
Because this portion is structured as a gift:
It does not need to be repaid
It can be used toward down payment, closing costs, or both
When combined, eligible county employees may receive up to 5.5% of the loan amount toward down payment and closing costs.
For many buyers, this can mean the difference between continuing to rent and finally becoming a homeowner.
The program is designed specifically for employees of GSFA member counties. Locally, this includes:
Shasta County
Tehama County
Butte County
Siskiyou County
Trinity County
Lassen County
Eligibility is based on:
Employment with a participating county
Meeting standard mortgage qualification guidelines
Program income and purchase price limits (which vary by county and household size)
This program is commonly used by first-time homebuyers, but prior homeownership does not automatically disqualify you.
In areas like Redding and the greater Shasta County region, home prices may be more attainable than larger metro areas, but saving for a down payment can still take years.
The GSFA Platinum Assist to Own program helps bridge that gap by:
Reducing the amount of cash needed upfront
Avoiding additional monthly payments
Allowing buyers to preserve savings for emergencies or homeownership expenses
For county employees who plan to stay in their home long-term, this structure can be especially helpful.
Does the assistance increase my monthly payment?
No. The deferred second mortgage has no monthly payment, and the gift portion has no repayment at all.
Does the second mortgage accrue interest?
No. It carries a 0% interest rate, and the balance does not grow over time.
When does the second mortgage need to be repaid?
Only when you sell or refinance the home.
Can this be used with other loan programs?
Yes, this down payment assistance program is paired with an FHA, VA, USDA, or Conventional first mortgage.
Down payment assistance programs are powerful tools, but they are not one-size-fits-all. The best way to know if GSFA Platinum Assist to Own makes sense for your situation is to review your income, goals, and homebuying timeline with a lender who understands both the program and the local market.
If you’re a Shasta County employee or work for another participating county in Northern California, this program is absolutely worth exploring.
👉 See if you qualify and learn how GSFA Platinum Assist to Own could help you take the next step toward homeownership.
