June 28, 2023
Dear Partners,
We too are celebrating homeownership month!
The Washington State Housing Finance Commission is pleased to announce an expansion of our efforts to streamline our programs and processes to ensure the best possible experience for our homebuyers. In that spirit, the Commission is happy to announce additional flexibilities to help knock down barriers to homeownership.
Effective June 30, 2023, the Commission will be removing the 620 minimum credit score requirement on our Home Advantage and House Key first mortgage programs.
We will accept your AUS approval findings and your underwriter’s signed/dated approval for credit score with no additional overlays to agency guidelines.
Any Home Advantage Gov’t loans including manufactured homes and manually underwritten loans temporarily going to Idaho Housing and Finance Association (IHFA), the above criteria applies.
Section 2 of our Home Advantage and House Key manuals and any applicable matrices will be updated shortly.
If you have any questions, please contact Corinna Obar