Program highlights.
- Streamlined bank statements from the first page of the account
- 100% gift funds allowed
- No seasoning to use current value on rate/term and cash-out
Key figures.
- Score from
- 620
- allows 65% to $1M
- LTV up to
- 90%
- purchase, at 740+ to $1M
- Loans to
- $3M
- at 680+ and 75%
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 |
|---|---|---|
| Full doc | 640+ score90% LTVloans to $3M90% at 740+ to $1M; $3M at 680+ and 75%; 640 allows 70% to $2M; rate/term 85% | 620+ score85% LTVloans to $3M85% at 720+ to $1M; $3M at 680+ and 75%; 620 allows 65% to $1M |
| Full doc, Cash-out | 640+ score80% LTVloans to $3M80% at 700+ to $2.5M; $3M at 680+ and 75%; 640 allows 70% to $2M | 620+ score80% LTVloans to $3M80% at 700+ to $2.5M; $3M at 680+ and 75%; 620 allows 55% to $1M |
| Bank statement, P&L, 1099, asset utilization | 640+ score85% LTVloans to $3M85% at 720+ to $1M; $3M at 680+ and 75%; 640 allows 70% to $2M | 620+ score85% LTVloans to $3M85% at 720+ to $1M; $3M at 680+ and 75%; 620 allows 65% to $1M |
| Bank statement, P&L, 1099, asset utilization, Cash-out | 640+ score80% LTVloans to $3M80% at 700+ to $2.5M; $3M at 680+ and 75%; 640 allows 70% to $2M | 620+ score80% LTVloans to $3M80% at 700+ to $2.5M; $3M at 680+ and 75%; 620 allows 55% to $1M |
| ITIN | 660+ score85% LTVloans to $1M85% at 720+ to $1M; $1M at 720+ and 85%; 660 allows 80% to $1M | Not offered |
| ITIN, Cash-out | 660+ score75% LTVloans to $1M75% at 720+ to $1M; $1M at 720+ and 75%; 660 allows 70% to $1M | Not offered |
What to know.
- Loan amount
- $150K–$3MThe upper tiers require stronger credit and lower leverage.
- Purchase LTV
- Up to 90%Full-doc primary residence through $1M with 740+ FICO; high-LTV and credit-event overlays apply.
- Documentation
- Full & alternative pathsUse the matching documentation matrix; limits do not transfer between methods.
- Occupancy
- Primary · Second home · InvestmentSeparate investment limits apply.
- Credit events
- Seasoned-event optionsThe matrix includes reduced-leverage paths beginning at 12 months; cash-out has separate requirements.
- Debt consolidation
- Primary & second homeA distinct refinance treatment; unavailable on investment transactions.
- Ways to qualify
- Full doc, bank statements, P&L only, asset utilization, ITIN and recent credit eventNot offered: WVOE only, DSCR and foreign national.
Documents.
Other programs.
Compare with
- DSCR · Newport familyNewport DSCRNo-seasoning cash-out on current value, and assets that boost the DSCR
- Score
- 620+
- LTV
- 80%
- Loan
- $3M
- Non-QMBalboaIncome, asset and distinctive-property options
- Score
- 660+
- LTV
- 85%
- Loan
- $3M
- Non-QM · Zuma familyZuma PrimeFull documentation and alternative income paths
- Score
- 620+
- LTV
- 90%
- Loan
- $4M
By way to qualify
Each opens every JMAC program that takes that paperwork.
Questions brokers ask.
Is this the same as Newport DSCR?
No. This page covers income-based Non-Conforming qualification. Newport DSCR and DSCR Plus have separate rental-income matrices.
How should I present a recent credit event?
Provide the event type and completion date, housing history and proposed structure. At 12 months, the matrix limits purchase and rate-and-term to 70% LTV and excludes cash-out. Other requirements still apply.
Your next borrower. Our next conversation.
Bring us your next Newport Non-Conforming loan.
Send the scenario, ask JMAC a question, or get set up with your lending team.