Buying your first home can feel out of reach — especially with rising home prices and upfront costs. Fortunately, Coachella Valley first-time homebuyers may qualify for down payment assistance programs designed to make homeownership more attainable throughout Greater Palm Springs.
Down Payment Assistance refers to local, county, and statewide programs that provide financial help to qualified buyers. Assistance is typically offered as:
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Deferred loans (no monthly payments, repaid when you sell or refinance)
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Forgivable loans (forgiven after living in the home for a set number of years)
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Grants (do not require repayment)
Many programs can be combined with FHA, Conventional, VA, or USDA loans, depending on eligibility.
Buying your first home can feel out of reach — especially with rising home prices and upfront costs. Fortunately, Coachella Valley first-time homebuyers may qualify for down payment assistance programs designed to make homeownership more attainable throughout Greater Palm Springs.
Down Payment Assistance refers to local, county, and statewide programs that provide financial help to qualified buyers. Assistance is typically offered as:
-
Deferred loans (no monthly payments, repaid when you sell or refinance)
-
Forgivable loans (forgiven after living in the home for a set number of years)
-
Grants (do not require repayment)
Many programs can be combined with FHA, Conventional, VA, or USDA loans, depending on eligibility.
Down Payment Assistance Programs
Buying your first home can feel out of reach — especially with rising home prices and upfront costs. Fortunately, Coachella Valley first-time homebuyers may qualify for down payment assistance programs designed to make homeownership more attainable throughout Greater Palm Springs.
Down Payment Assistance refers to local, county, and statewide programs that provide financial help to qualified buyers. Assistance is typically offered as:
-
Deferred loans (no monthly payments, repaid when you sell or refinance)
-
Forgivable loans (forgiven after living in the home for a set number of years)
-
Grants (do not require repayment)
Many programs can be combined with FHA, Conventional, VA, or USDA loans, depending on eligibility.
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Offers up to 20% of purchase price or closing costs, up to $150,000 in assistance.
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This is a shared appreciation loan, meaning repayment happens when you sell, refinance, or pay off the home.
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Requirements include:
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First-time homebuyer status.
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Income & loan eligibility tests per CalHFA rules.
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CalHFA also offers other DPA programs (e.g., MyHome Assistance Program) that help first-time buyers cover down payments & closing costs, typically through deferred junior loans.
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Offers silent second mortgage down payment assistance with no monthly payments or interest.
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Assistance can be up to 20% of purchase price (max ~$100,000).
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Forgiven after typically 15 years if you live in the home.
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Requires qualifying as a first-time buyer and meeting income & eligibility limits.
This program often overlaps geographically with PLHA but may have slightly different income limits or eligibility rules.
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Offers up to 5% of the first mortgage amount for DPA.
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No first-time buyer requirement.
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Works with FHA, VA, USDA & other loan types.
Platinum Program:
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Offers up to 5.5% DPA.
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Includes special options with deferred zero-interest second mortgage and gift funds.
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No first-time buyer requirement.
These programs are administered through participating lenders — buyers don’t apply directly to GSFA online; you must work with an approved lender.
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Provides down payment assistance up to 20% of the purchase price, capped at $100,000.
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Available to first-time homebuyers.
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Requirements typically include:
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Completion of a homebuyer education course.
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Use of an approved lender.
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Eligible areas include many Coachella Valley cities such as Cathedral City, Coachella, Desert Hot Springs, Indian Wells, Indio, La Quinta & Palm Springs (among others in the county).
