The Second Payment | GSFA Platinum vs CalHFA MyHome — Which Down Payment Help Costs You Less?

Last episode's help stayed silent until the day you sell. This one talks every single month. Two Bakersfield lenders break down GSFA Platinum on a real $380,000 home on the market: who qualifies, what it actually costs, and the question almost nobody answers — which program fits which buyer. Whether you're buying your first home or studying for your license, this one walks through the vocabulary and the math on a real transaction. 🏡 FEATURED HOME 7517 Hachita Ct, Bakersfield, CA 93309 $380,000 · 3 bed · 2 bath · ~1,300 sq ft · corner lot ⏱️ CHAPTERS 0:00 $16,000 toward this house — the hook 0:28 Silent second vs. amortizing second 0:38 Two lenders, same questions 1:12 Why they got into lending 2:08 Down payment assistance, defined 2:21 What is GSFA Platinum? (Golden State Finance Authority) 2:50 The four kinds: grant, forgivable, deferred, repayable 4:17 The gift portion: forgiven at closing 4:54 Eligibility: FICO 640, DTI to 50%, owner-occupied, income limits 6:16 Up to 4 applicants and non-occupant co-borrowers 7:28 Gift funds and seller credits 8:21 Repeat and move-up buyers 8:40 Prepaids: recurring vs. non-recurring closing costs 9:27 Seller concessions: FHA 6% vs. conventional 3% 9:55 Earnest money, appraisal, inspections — the real cash to start 10:59 The property: 7517 Hachita Ct 11:42 Full cost breakdown on a $380,000 FHA purchase 14:04 Program fees and why cash to close drops by less 14:19 CalHFA MyHome vs. GSFA Platinum, side by side 15:34 When assistance is the wrong tool 16:53 The most common buyer mistake 17:53 Approved lenders and overlays explained 18:44 Who each lender serves best 20:04 A file that took two years to qualify 21:31 If you think homeownership isn't for you 23:13 Recap: pay now or pay later 24:07 Kern County Fair, Sunday Sept 27 🎪 THIS SUNDAY Golden Valley Real Estate booth at the Kern County Fair Sunday, September 27 · 5 PM – 10 PM · Bakersfield, CA I'm hosting. Bring your questions, bring your family, bring the friend who keeps saying "maybe next year." 📞 THE LENDERS Veronica Morales · Loan Officer · NMLS 358040 Buena Vista Mortgage Services, a division of Point Mortgage Corporation 661-333-6996 · vmorales@pointmtg.com Noemi Sanchez · Mortgage Loan Originator · NMLS 267822 MLD Mortgage Inc. dba The Money Store 661-900-6281 · nsanchez@themoneystore.com 🏠 YOUR HOST Basil Silao, REALTOR · DRE 02244234 Golden Valley Real Estate Group 760-371-5174 · basilsilao.com · @basil_realtor Watch Episode 2 for CalHFA MyHome with Cristina and Joe.] Educational content only. Not a commitment to lend and not a loan offer. All figures are hypothetical examples using estimated rates, taxes, insurance and closing costs as of September 18, 2026. Rates, program terms and eligibility change. Talk to a licensed lender about your situation. Equal Housing Opportunity. #firsttimehomebuyer #downpaymentassistance #bakersfieldrealestate #bakersfieldhomes #bakersfieldrealtor #kerncounty #homebuyingtips #howtobuyahome #gsfa #calhfa #firsttimebuyer #californiahomebuyer