Program highlights.
- 80% LTV to $3M, 70% LTV to $5M
- Primary residence only
- Up to 43% DTI
- Delayed financing allowed
Key figures.
- Score from
- 620
- allows 50% to $2,000,001
- LTV up to
- 80%
- at 680+ to $3M
- Loans to
- $5M
- at 680+ and 70%
Limits by documentation.
Score · LTV · Loan in each cell, with the tier each needs beneath. Main rows are purchase and rate/term.
| Documentation | Primary |
|---|---|
| Full doc | 620+ score80% LTVloans to $5M80% at 680+ to $3M; $5M at 680+ and 70%; 620 allows 50% to $2,000,001 |
| Full doc, Cash-out | 640+ score70% LTVloans to $4M70% at 680+ to $3M; $4M at 660+ and 65%; 640 allows 50% to $3M |
| Bank statement, 1099 | 640+ score75% LTVloans to $5M75% at 660+ to $3M; $5M at 660+ and 65%; 640 allows 65% to $3M |
| Bank statement, 1099, Cash-out | 640+ score65% LTVloans to $4M65% at 660+ to $3M; $4M at 660+ and 60%; 640 allows 50% to $3M |
What to know.
- Loan amount
- $2,000,001–$5MThe highest tier is purchase only; refinance has a lower ceiling.
- Documentation
- Full doc · Statements · 1099Availability and leverage vary by loan amount and credit tier.
- Occupancy
- Primary residenceU.S. citizens and permanent residents; first-time homebuyers are ineligible.
- Property location
- Eligible metropolitan areasRequired combined statistical area population exceeds two million under the matrix’s 2020 reference; rural properties are ineligible.
- Reserves
- 12–24 monthsBy transaction and loan tier, plus additional financed-property reserves.
- Loan structure
- No interest-only or subordinate lienGifts are ineligible; declining-market reductions apply.
- Ways to qualify
- Full doc and bank statementsNot offered: P&L only, WVOE only, asset utilization, DSCR, ITIN, foreign national and recent credit event.
Documents.
Other programs.
Compare with
- Jumbo programsFind the jumbo structure that fits the borrower. Compare the named programs by documentation, occupancy, reserves and the requested loan amount.
- Non-QM · Zuma familyZuma PrimeFull documentation and alternative income paths
- Score
- 620+
- LTV
- 90%
- Loan
- $4M
- Non-QM · Newport familyNewport Non-ConformingFull and alternative income documentation
- Score
- 620+
- LTV
- 90%
- Loan
- $3M
Questions brokers ask.
Which loan tier should I start with?
Review the requested amount first. Credit, leverage, DTI and reserve requirements change together across the $3M, $4M and $5M ranges.
What should I confirm with my AE?
Confirm the property’s eligible metropolitan area and the applicable documentation tier before structuring the loan.
Your next borrower. Our next conversation.
Bring us your next Carmel loan.
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