Down Payment Assistance Options
Effective immediately, the down payment assistance provided through the GSFA Platinum Program has been revised to the following:
- FHA First Mortgages (FICO 660+): Up to a 4% Gift
- FHA First Mortgages (FICO 640-659): Up to 3% Gift
- VA First Mortgages (FICO 640+): Up to a 4% Gift
- USDA First Mortgages (FICO 640+): Up to a 3% Gift
- Freddie Mac HFA Advantage Mortgages (Purchase / Refinance): Up to a 5% Gift
- Freddie Mac HFA Advantage Mortgages (with GSFA Paid MI): Up to a 2.5% Gift
FICO Score / DTI on GSFA Paid MI Options
For any reservation made on or after March 1, 2018 with the GSFA Paid MI Options, the borrower must have a credit score of 700 or greater for loans with DTI exceeding 45%.
