Effective Monday, January 14, 2019, the amount of down payment assistance (DPA) available for GSFA Platinum FHA loan transactions with a borrower FICO 640-659 will increase by 0.5%. DPA will be available as 2.5% or 3.5% of the loan amount.
On Monday the interest rates published online for GSFA Platinum will reflect the Ginnie Mae FHA DPA Options as follows:
Ginnie Mae FHA (FICO 660+)
Ginnie Mae FHA (FICO 640-659)
Note: The maximum DPA available for FHA loans is still 4% of the total loan amount. No changes have been made to the GSFA Platinum Program Term Sheets in response to this program bulletin.