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If I am reading the premium chart correctly, it appears that borrowers who rely on downpayment assistance from a source like a nonprofit have to have a 620 credit bureau score. Is that correct?

April 26, 2017appears borrowers chart correctly Credit bureau downpayment Premium Reading

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If I am reading the premium chart correctly, it appears that borrowers who rely on downpayment assistance from a source like a nonprofit have to have a 620 credit bureau score. Is that correct?

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Yes. If a borrower’s downpayment is from other than his/her own fund or from a family member, then the borrower must have a 620 credit bureau score to qualify.