Single-Family Bulletin #19-14 - Lender Training for GSFA OpenDoors Program

October 8, 2019 | Bulletin #19-14

Income Limits Updated for GSFA Down Payment Assistance Programs

The following Income Limit updates have been made to the GSFA Platinum® and

GSFA OpenDoors™ Programs, effective immediately.

GSFA Income Limits for Conventional loan transactions have been updated.
GSFA no longer has Income Limits for FHA, VA and USDA loan transactions.

The Program Term Sheets have been updated and are published online.

Additional Resources:

GSFA OpenDoors Lender Participant Guide

GSFA Platinum Lender Participant Guide

Join us for Special Lender Training on the

NEW GSFA OpenDoors™ Program

Tips & Tricks to help you:

Dispel common myths about down payment assistance.

Identify the best down payment assistance options for your borrowers.

See pricing and loan examples.

Generate more referrals from satisfied clients.

Webinars are FREE.

Click the link above to register for a date/time that is convenient for you.

Bridge the affordability

gap with DOWN PAYMENT ASSISTANCE

GSFA OpenDoors Highlights:

GSFA OpenDoors is designed to provide up to 7% in down payment and/or closing cost assistance in conjunction with FHA, VA, USDA and Conventional financing. The Program features some enhancements to credit score requirements, debt-to-income ratios and pricing.

The Program is available to Correspondent Lenders of Gateway Mortgage Group, a division of Gateway First Bank (GMG), as the Program's Master Servicer.

Training Recommended for:

Loan Officers, Originators, Processors and Underwriters

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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