Yes, you can get down payment assistance even if you've owned a home before. GSFA Platinum and Golden Opportunities are the only California DPA programs with no first-time homebuyer requirement. They offer up to 5.5% of your loan amount in assistance, work with FHA/VA/USDA/conventional loans, and the assistance is forgivable after 3 years.
Down Payment Assistance If You've Owned a Home Before (California 2026)
Here's a frustrating reality for many homebuyers: You sold your previous home, maybe due to divorce, job relocation, or life circumstances. Now you're ready to buy again—but nearly every down payment assistance program requires you to be a "first-time buyer."
Except two. The Golden State Finance Authority (GSFA) operates two programs—Platinum and Golden Opportunities—that specifically allow repeat buyers to qualify. If you've owned a home before and need down payment help, these may be your only options in California.
🏠 The Repeat Buyer Advantage
Whether you owned a home 2 years ago or 20 years ago, GSFA programs don't exclude you. This makes them uniquely valuable for move-up buyers, those returning to homeownership after life changes, or investors purchasing a new primary residence.
Quick Comparison: Platinum vs Golden Opportunities
| Feature | GSFA Platinum | Golden Opportunities |
|---|---|---|
| Max Assistance | Up to 5.5%Most $ | Up to 5% |
| First-Time Buyer Required | ❌ No | ❌ No |
| Min Credit Score | 640 | 620Lowest |
| Max DTI Ratio | 50% | 55%Highest |
| Forgiveness | After 3 years | Partial gift + 3 years |
| Loan Types | FHA, VA, USDA, Conv. | FHA, VA, USDA, Conv. |
| Hero Bonus (SELECT) | +$5,000 available | Not available |
| Min Occupancy Requirement | 3 years for forgiveness | None after purchase |
Choose Platinum if: You have 640+ credit, want maximum assistance (5.5%), or qualify for SELECT hero benefits.
Choose Golden Opportunities if: Your credit is 620-639, you have higher debt ratios (up to 55% DTI), or you want no minimum residency requirement after purchase.
Program 1: GSFA Platinum
GSFA Platinum Forgivable
The flagship GSFA program offering the highest assistance percentage. On a $600,000 loan, that's up to $33,000 in down payment and closing cost help.
Platinum SELECT: Extra $5,000 for Essential Workers
If you work in one of these fields AND buy in a targeted census tract, Platinum SELECT provides an additional $5,000 in closing cost assistance as a gift:
- Education: Teachers, administrators, school staff
- Public Safety: Police officers, firefighters, EMTs
- Healthcare: Nurses, doctors, medical technicians
- Military: Active duty and veterans
This gift is on top of your standard Platinum assistance, meaning total help could reach 5.5% + $5,000.
Search Homes in Targeted Census Tracts
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Start Your Home Search →Program 2: GSFA Golden Opportunities
Golden Opportunities Gift + Loan
The more flexible option with the lowest credit requirements. Features a unique structure where part of the assistance is a gift (no repayment ever) and part is a forgivable loan.
The Gift Component Advantage
Golden Opportunities splits your assistance into two parts:
- Gift portion: This money is yours free and clear—no repayment required, ever
- Second mortgage portion: Forgivable after 3 years if you stay in the home
This structure means even if you sell before 3 years, you only repay the second mortgage portion—the gift stays with you.
Who Qualifies as a "Repeat Buyer"?
GSFA programs don't ask if you've owned before—they simply require the property to be your primary residence. This opens the door for:
Sold your last home and now renting? You qualify.
Signed off ownership in divorce? You qualify.
Selling current home and buying new primary? You qualify.
Lost home to foreclosure years ago? Check with lender on waiting periods.
Real Numbers: How Much Can You Get?
| Loan Amount | Platinum (5.5%) | Golden Opp (5%) |
|---|---|---|
| $400,000 | $22,000 | $20,000 |
| $500,000 | $27,500 | $25,000 |
| $600,000 | $33,000 | $30,000 |
| $700,000 | $38,500 | $35,000 |
| $800,000 | $44,000 | $40,000 |
If you receive $33,000 in Platinum assistance and stay in the home for 3 years, that $33,000 is forgiven—you never pay it back. That's effectively a $33,000 gift for maintaining owner-occupancy.
Questions About GSFA for Repeat Buyers?
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How to Apply
GSFA programs are available through a network of participating lenders across California. Here's the process:
- Find a GSFA Participating Lender — Search at gsfahome.org or ask your mortgage broker if they're approved
- Get Pre-Qualified — Lender will verify income, credit, and DTI to determine which program fits
- Choose Platinum or Golden Opportunities — Based on your credit score and flexibility needs
- Find Your Home — Must be primary residence; new or existing homes qualify
- Close with GSFA Assistance — Assistance is recorded as a second mortgage (forgivable)
Ready to Use GSFA Assistance?
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Start Your Home Search →Frequently Asked Questions
Can I get down payment assistance if I've owned a home before?
Yes. GSFA Platinum and Golden Opportunities programs have no first-time homebuyer requirement. Whether you owned a home 2 years ago or 20 years ago, you can qualify for up to 5.5% in down payment assistance as long as the new home will be your primary residence.
What is the difference between GSFA Platinum and Golden Opportunities?
Platinum offers up to 5.5% assistance with a 640 credit minimum and 50% DTI max. Golden Opportunities offers up to 5% with a lower 620 credit minimum and higher 55% DTI max. Both allow repeat buyers and offer forgivable assistance after 3 years.
Is GSFA assistance forgivable?
Yes. GSFA Platinum assistance is forgivable after 3 years of owner-occupancy. A portion of Golden Opportunities assistance is provided as a gift that requires no repayment from day one. Both programs are designed to minimize your long-term repayment obligation.
What credit score do I need for GSFA programs?
GSFA Platinum requires a minimum 640 credit score. Golden Opportunities has the lowest requirement at just 620—one of the lowest credit thresholds for any California DPA program.
Can I use GSFA with VA or USDA loans?
Yes. Both GSFA Platinum and Golden Opportunities work with FHA, VA, USDA, and conventional loans. This flexibility makes them accessible to veterans, rural buyers, and those with various financing needs.
What is GSFA Platinum SELECT?
Platinum SELECT offers enhanced benefits for essential workers: teachers, police, firefighters, healthcare workers, and military members. Buyers in targeted census tracts can receive an additional $5,000 in closing cost assistance as a gift on top of standard Platinum assistance.
Why This Matters for Move-Up Buyers
Most DPA programs assume buyers have never owned—they're designed for true first-timers. But life doesn't work that way. Divorce, job loss, relocation, or simply selling at the wrong time can leave previous homeowners starting over without the savings they had before.
GSFA programs recognize this reality. By eliminating the first-time buyer requirement, they give returning buyers a genuine path back to homeownership—complete with forgivable assistance that can save you tens of thousands of dollars.
If you've owned before and thought DPA wasn't for you, GSFA Platinum and Golden Opportunities prove otherwise.
Ready to Buy Again With DPA Help?
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Disclaimer: This article provides general information about GSFA programs as of January 2026. Program terms, rates, and eligibility are subject to change. Contact a GSFA Participating Lender for current program guidelines, interest rates, and APRs. GSFA is not a direct lender. This content does not constitute financial or legal advice.
