Program highlights.
- 89.99% LTV, no MI, on a 30-year fixed primary to $2M
- $3.5M up to 80% LTV
- Non-occupant co-borrowers eligible
- Cash-out and reserves subject to AUS
Key figures.
- Score from
- 660
- allows 80% to $2M
- LTV up to
- 89.99%
- at 680+ to $2M
- Loans to
- $3.5M
- at 740+ and 80%
Limits by occupancy.
Score · LTV · Loan in each cell, with the tier each needs beneath.
| Occupancy | Purchase & rate/term | Cash-out |
|---|---|---|
| Primary, 1 unit | 660+ score89.99% LTVloans to $3.5M89.99% at 680+ to $2M; $3.5M at 740+ and 80%; 660 allows 80% to $2M | 680+ score80% LTVloans to $3M80% at 680+ to $2M; $3M at 740+ and 80% |
| Primary, 2–4 units | 660+ score89.99% LTVloans to $3.5M89.99% at 680+ to $2M; $3.5M at 740+ and 80%; 660 allows 80% to $2M | 680+ score75% LTVloans to $3M75% at 680+ to $2M; $3M at 740+ and 75% |
| Second home | 660+ score80% LTVloans to $3.5M80% at 660+ to $2M; $3.5M at 740+ and 80% | 680+ score75% LTVloans to $3M75% at 680+ to $2M; $3M at 740+ and 75% |
| Investment, 1 unit | 660+ score80% LTVloans to $3M80% at 680+ to $2M; $3M at 720+ and 75%; 660 allows 70% to $2M | 680+ score75% LTVloans to $3M75% at 680+ to $2M; $3M at 740+ and 70% |
| Investment, 2–4 units | 660+ score75% LTVloans to $3M75% at 680+ to $2M; $3M at 720+ and 75%; 660 allows 70% to $2M | 680+ score70% LTVloans to $3M70% at 680+ to $2M; $3M at 740+ and 70% |
What to know.
- Loan ceiling
- Up to $3.5MPrimary or second-home purchase / rate-and-term at 740+ FICO, up to 80% LTV.
- Primary purchase / R&T
- Up to 89.99% LTVThrough $2M, 680+ FICO, 30-year fixed only; not for first-time homebuyers.
- Credit
- From 660660 reaches 80% LTV to $2M on primary and second-home purchase / rate-and-term, 70% on investment; cash-out starts at 680.
- Maximum DTI
- 50%Subject to AUS and program requirements.
- First-time buyer
- Primary only · Up to $2MMaximum 80% LTV; interest-only is not available.
- Loan structure
- Fixed · ARM · Eligible IOInterest-only reduces maximum leverage and has separate qualification requirements.
- Ways to qualify
- Full docNot offered: bank statements, P&L only, WVOE only, asset utilization, DSCR, ITIN, foreign national and recent credit event.
Documents.
Other programs.
Compare with
Questions brokers ask.
Are high-balance loans eligible?
No. The guide requires the loan amount to exceed the applicable agency limit for the county and property type. High-balance loans are not eligible.
What does a declining market change?
An appraiser-noted declining market reduces maximum leverage by 10%. Apply that adjustment with the other matrix requirements.
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