January 27, 2020 | Bulletin #20-02
Guideline Updates for GSFA OpenDoors
Program, Effective February 10, 2020
Effective February 10, 2020, all new FHA, VA and USDA loans for the GSFA OpenDoors Program will require a minimum FICO of 620 and a maximum DTI of 55% with AUS approval.

For manual underwriting of FHA, VA and USDA loans, guidelines are as follows:

FHA Loans
Minimum FICO: 640
Maximum DTI: 43%

VA Loans
Minimum FICO: 640
Maximum DTI: 41%

USDA Loans
Minimum FICO: 640
Maximum DTI: 41%



The following guidelines apply to Conventional Loans for the GSFA OpenDoors Program, also effective February 10, 2020:

Borrowers ≤ 80% AMI (Area Median Income):
  • Will have separate, more attractive pricing and DPA options; and
  • Remain eligible for the Charter Level Coverage MI of the Freddie Mac HFA Advantage product.

Borrowers > 80% AMI:
  • Minimum FICO: 680;
  • Will have separate pricing and DPA options;
  • Remain eligible for the Charter Level Coverage MI of the Freddie Mac HFA Advantage product; and
  • No income limits.


Program Term sheets will be updated shortly.

For questions about this bulletin, please contact GSFA Client Relations toll-free at
(855) 740-8422 or email info@gsfahome.org.
© 2020 Golden State Finance Authority. All rights reserved.

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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