May 14, 2020 | Bulletin #20-12
Guideline Update for GSFA OpenDoors Program
Effective for all GSFA OpenDoors Conventional Loan reservations made on or after Monday, May 18, 2020, the following guidelines apply:

  • Borrowers with income >80% AMI will require standard MI per Agency and LPA Findings
  • Minimum FICO remains at 680 for >80% AMI
  • A No DPA option will be added for borrowers <80% AMI
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GSFA Down Payment Assistance Programs
Knowledge is key to being successful as a mortgage professional in today's market.

The more you know about down payment assistance programs, the easier it is to match borrowers with the right products to fit their needs.

Join GSFA for live webinars to learn program advantages and guidelines, how to process applications, key dates, marketing tools and much more.
Various dates and times throughout May are available. Click the link below to view availability and reserve your virtual seat.
Key Advantages of GSFA Down Payment Assistance Programs
  • Down payment and/or closing cost assistance, up to 7% of the First Loan Amount.
  • Borrower DOES NOT have to be a first-time homebuyer to qualify.
  • Flexible FICO, DTI and Income Limits.
  • Variety of First Mortgage Products available, from FHA, VA, USDA to Conventional Loan Financing.
  • No additional compliance review from GSFA required, making the process easy and fast.
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Program Bulletins are intended for mortgage professionals only. This is not an offer for extension of credit nor a commitment to lend and is subject to change without notice. Complete program guidelines, loan applications, interest rates and annual percentage rates (APRs) are available through GSFA Participating Lenders.

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