This page provides highlights and contact information for the Assist-to-Own program available to permanent and temporary County of San Luis Obispo employees.
Assist-to-Own is a program available to County of San Luis Obispo employees (permanent and temporary). This program is provided by Golden State Finance Authority (GFSA). Through this program, employees can apply for down payment and closing cost assistance to help with purchasing or refinancing a primary residence. Down payment is often one of the biggest hurdles for homebuyers in California. Take advantage of this program, which helps to make homebuying easier and more affordable. Assist to Own can provide up to 3.5% of the 1st Mortgage Loan Amount as a deferred 2nd Mortgage Loan amount. In addition, you may be eligible for an additional 2% of the 1st Mortgage Loan amount, in the form of a gift. Through Assist to Own, you can receive up to 5.5% of the 1st Mortgage Loam amount in down payment and closing cost assistance.
- Down Payment and Closing Cost Assistance (DPA) up to 5.5% of the First Mortgage Loan amount
- Homebuyer does not have to be a first-time homebuyer to qualify for this program
- FICO Score requirements can be as low as 640
- Eligible to be used on single-family 1-4 unit residences, condominiums, and townhouses
- Compatible with a variety of Mortgage Loan options (FHA, VA, USDA, and Conventional Mortgage Loans)
- Program can be utilized to purchase or refinance anywhere in California
Visit the County of San Luis Obispo, Assist-to-Own webpage here for more information and to begin searching for a lender! You can also view the recorded webinar from July 25, 2022 on the website.
Phone: (855) 740-8422
Email: [email protected]
07-25-22 Assist to Own Presentation
GFSA Assist to Own Flyer
GFSA Assist to Own Brochure
This program is available to County of San Luis Obispo employees, which includes both permanent and temporary employees only.
For other program guidelines to determine if you are eligible for the loan, visit the Assist to Own website here. You can also view the presentation, flyer, and/or brochure for other eligibility guidelines. If you have additional questions about eligibility, consider reaching out to a lender to discuss your unique situation.
The additional 2% is in the form of a gift, unlike the initial 3.5% which is a deferred 2nd Mortgage Loan amount. Part of the way the 2% gift is funded is subject to how many other loans are available and the interest rates. Therefore, the gift amount may vary and could change daily. It is best to have a Lender confirm the current gift amount.
This program is for all types of buyers. You do not have to be first-time homebuyer to utilize this program; however, first-time homebuyers also eligible to use the program too.
If you qualify for the Assist to Own program and use it, then retire you are still able to maintain the loan until it is paid off or you refinance or you sell your home.