September 2, 2020 | Bulletin #20-17
Clarification Regarding Updated FICO Score Guidelines for GSFA OpenDoors Program
This bulletin serves as a correction of Program Bulletin #20-16, published on August 20, 2020, which outlined the minimum FICO requirements for Government Loans for the GSFA OpenDoors down payment assistance program, effective for all new loan registration on or after August 31, 2020.

The minimum FICO requirements for Government Loans for the GSFA OpenDoors Program are as follows:

  • FHA and VA: 620
  • USDA RD: 640


 
The Program Term Sheet for FHA, VA and USDA Loans has been updated and is available online in the GSFA OpenDoors Lender Participant Guide.
 
For questions or additional assistance regarding this bulletin, please email info@gsfahome.org.
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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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