Program highlights.
- Minimum DSCR 1.0
- Fixed and ARMs
- Cash-out can meet reserve requirements
- Gift funds after 10% of the borrower’s own funds
Key figures.
- Score from
- 640
- allows 75% to $1M
- LTV up to
- 80%
- at 700+ to $1.5M
- Loans to
- $2M
- at 680+ and 75%
Limits by rental coverage.
Score · LTV · Loan in each cell, with the tier each needs beneath.
| Rental coverage | Purchase & rate/term | Cash-out |
|---|---|---|
| DSCR 1.50+ | 640+ score80% LTVloans to $2M80% at 700+ to $1.5M; $2M at 680+ and 75%; 640 allows 75% to $1M | 660+ score75% LTVloans to $2M75% at 720+ to $2M; $2M at 720+ and 75%; 660 allows 70% to $1M |
| DSCR 1.15–1.49 | 640+ score80% LTVloans to $2M80% at 700+ to $1.5M; $2M at 680+ and 75%; 640 allows 75% to $1M | 660+ score75% LTVloans to $2M75% at 720+ to $2M; $2M at 720+ and 75%; 660 allows 70% to $1M |
| DSCR 1.00–1.14 | 640+ score75% LTVloans to $2M75% at 640+ to $1M; $2M at 680+ and 70% | 660+ score70% LTVloans to $2M70% at 680+ to $1.5M; $2M at 680+ and 65%; 660 allows 65% to $1.5M |
What to know.
- Loan amount
- $100K–$2MLoans under $150K require at least 1.25 DSCR and lower leverage.
- Minimum DSCR
- 1.00Stronger coverage can open higher leverage tiers.
- Purchase / R&T
- Up to 80% LTV700+ FICO, DSCR at least 1.15 and loan amount through $1.5M. First-time investors and non-permanent residents cap at 75%; property and location overlays apply.
- Minimum FICO
- 640Lower loan and LTV tiers; cash-out is not available at 640–659.
- Rental strategy
- Long-term rentalsShort-term rentals, condotels and non-warrantable condos are ineligible.
- Investor experience
- First-time investor options700+ FICO, DSCR above 1.00, one-unit single-family only, 75% maximum LTV, primary-home ownership and other history requirements. First-time homebuyers are ineligible.
- Ways to qualify
- DSCRNot offered: full doc, bank statements, P&L only, WVOE only, asset utilization, ITIN, foreign national and recent credit event.
Documents.
Other programs.
Compare with
- DSCRVenice DSCRNo minimum DSCR on 1–4 units, including rural, short-term rentals and condo hotels; 5–8 units and 2–8 mixed use at 1.00+ DSCR
- Score
- 640+
- LTV
- 80%
- Loan
- $3.5M
- DSCR · Newport familyNewport DSCRNo-seasoning cash-out on current value, and assets that boost the DSCR
- Score
- 620+
- LTV
- 80%
- Loan
- $3M
- DSCR · Newport familyNewport DSCR Plus100% gift funds, gift of equity, first-time homebuyers and living rent-free
- Score
- 640+
- LTV
- 80%
- Loan
- $3M
Questions brokers ask.
Which property limits matter?
Condos and 2–4 units are limited to 75% purchase and 70% refinance, and 2–4 units are ineligible in Illinois and New York. Rural properties, Baltimore City and Philadelphia County are ineligible. In Hawaii, properties in lava zones 1 or 2 or inside a coastal hazard zone are restricted, and coastal properties are reviewed for exception.
Can an unleased property be refinanced?
The matrix caps refinance leverage at 70% when any unit is vacant, subject to lower applicable matrix limits. Rental documentation is still required.
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