Page 6 - HRD Connect 2024 Q1

HRD Connect

DOWN PAYMENT

ASSISTANCE PROGRAM

Melissa Zamora

Saving for a down payment is often the biggest hurdle when buying
a home. However, the “Assist-to-Own Down Payment Assistance
Program” through Golden State Finance Authority provides
financial support, making home buying more affordable and
accessible.

In 2022 the County of Monterey partnered with the Golden State
Finance Authority (GSFA) to introduce the “Assist-to-Own” Program.
This program provides Down Payment and Closing Cost Assistance
(DPA) for County of Monterey employees of up to 5.5% of the First
Mortgage Loan amount. By availing this assistance, you may be able
to buy a home with little or no money out-of-pocket, and maybe
sooner than you thought possible. Better yet, you can use this
program to help you purchase your primary home anywhere in
California.

Eligible Properties: Mortgage Type
Single Family Home FHA, VA
1 – 4-unit townhouse and condos USDA
Manufactured homes 30-yr. Conventional Loan