Program highlights.
- No AUS and no 4506-C
- Interest-only on the 30-year fixed, qualified at the fully amortized rate
- Only 30 days of asset seasoning
- 100% gift funds on WVOE and P&L, for primary, second home and investment
Key figures.
- Score from
- 660
- WVOE and P&L, primary
- LTV up to
- 80%
- at 660+ to $1M
- Loans to
- $3M
- at 700+ 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 | Second home | Investment |
|---|---|---|---|
| WVOE and P&L | 660+ score80% LTVloans to $3M80% at 660+ to $1M; $3M at 740+ and 70% | 700+ score75% LTVloans to $2M75% at 700+ to $1.5M; $2M at 720+ and 75% | 660+ score80% LTVloans to $3M80% at 720+ to $2M; $3M at 700+ and 70%; 660 allows 60% to $2M |
| WVOE and P&L, Cash-out | 660+ score80% LTVloans to $3M80% at 740+ to $1M; $3M at 740+ and 65%; 660 allows 70% to $1.5M | 700+ score60% LTVloans to $2M | 680+ score75% LTVloans to $3M75% at 700+ to $1M; $3M at 700+ and 65%; 680 allows 65% to $2M |
| Asset utilization | 700+ score80% LTVloans to $3M80% at 700+ to $1M; $3M at 740+ and 70% | 700+ score75% LTVloans to $2M75% at 700+ to $1.5M; $2M at 720+ and 75% | 700+ score80% LTVloans to $3M80% at 720+ to $2M; $3M at 700+ and 70%; 700 allows 75% to $2M |
| Asset utilization, Cash-out | 700+ score80% LTVloans to $3M80% at 740+ to $1M; $3M at 740+ and 65%; 700 allows 70% to $2M | 700+ score60% LTVloans to $2M | 700+ score75% LTVloans to $3M75% at 700+ to $1M; $3M at 700+ and 65% |
What to know.
- Documentation
- WVOE · P&L · AssetsAsset utilization follows its own matrix; this snapshot’s numeric tiers cover WVOE / P&L.
- Loan amount
- $150K–$3MTop primary tier requires 740+ FICO with reduced leverage.
- Primary purchase / R&T
- Up to 80% LTV660+ through $1M or 720+ through $2M; above 75% is limited to one-unit properties.
- Maximum DTI
- 50%Subject to the income method and qualification requirements.
- Occupancy
- Primary · Second home · InvestmentDifferent credit, leverage and reserve tiers apply.
- Borrower eligibility
- First-time buyers allowedNot with the interest-only option. ITIN and foreign national borrowers are ineligible.
- Ways to qualify
- P&L only, WVOE only and asset utilizationNot offered: full doc, bank statements, DSCR, ITIN, foreign national and recent credit event.
Documents.
Other programs.
Compare with
Questions brokers ask.
Does limited documentation mean no documentation?
No. WVOE and P&L have specific evidence and verification requirements. Choose the right method for the borrower’s employment or business income.
What should I check on the property?
Rural properties are ineligible. Non-warrantable projects have lower leverage limits, and LTV above 75% is limited to one-unit properties.
Your next borrower. Our next conversation.
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