Program highlights.
- Up to 55% DTI
- 40-year fixed, and 30- and 40-year interest-only
- 1–4 units, non-warrantable condos, condo hotels and rural properties
- Credit events seasoned at least 1 year
Key figures.
- Score from
- 620
- allows 70% to $1M
- LTV up to
- 90%
- purchase, at 700+ to $1.5M
- Loans to
- $4M
- at 720+ 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 |
|---|---|---|
| Full doc, bank statement, 1099 | 620+ score90% LTVloans to $4M90% at 700+ to $1.5M; $4M at 720+ and 70%; 620 allows 70% to $1M; rate/term 85% | 620+ score85% LTVloans to $3.5M85% at 680+ to $1.5M; $3.5M at 700+ and 70%; 620 allows 70% to $1M; rate/term 80% |
| Full doc, bank statement, 1099, Cash-out | 640+ score80% LTVloans to $3M80% at 700+ to $1.5M; $3M at 720+ and 70%; 640 allows 70% to $1M | 640+ score75% LTVloans to $3M75% at 660+ to $1.5M; $3M at 720+ and 70%; 640 allows 70% to $1M |
| P&L, WVOE, asset utilization | 680+ score80% LTVloans to $3M80% at 680+ to $1.5M; $3M at 700+ and 70%; rate/term 75% | 680+ score80% LTVloans to $3M80% at 680+ to $1.5M; $3M at 720+ and 70%; rate/term 75% |
| P&L, WVOE, asset utilization, Cash-out | 680+ score70% LTVloans to $2.5M70% at 680+ to $1.5M; $2.5M at 720+ and 70% | 680+ score70% LTVloans to $2.5M70% at 680+ to $1.5M; $2.5M at 720+ and 70% |
| ITIN | 660+ score80% LTVloans to $1.5M80% at 680+ to $1M; $1.5M at 700+ and 80%; 660 allows 75% to $1M | 660+ score80% LTVloans to $1.5M80% at 680+ to $1M; $1.5M at 700+ and 80%; 660 allows 75% to $1M |
| ITIN, Cash-out | 660+ score75% LTVloans to $1.5M75% at 720+ to $1.5M; $1.5M at 720+ and 75%; 660 allows 70% to $1M | 660+ score75% LTVloans to $1.5M75% at 720+ to $1.5M; $1.5M at 720+ and 75%; 660 allows 70% to $1M |
| Prime Plus | 680+ score80% LTVloans to $2.5M80% at 680+ to $1M; $2.5M at 720+ and 75% | 680+ score75% LTVloans to $2Mrate/term 70% |
| Prime Plus, Cash-out | 680+ score80% LTVloans to $2.5M80% at 720+ to $1M; $2.5M at 720+ and 70%; 680 allows 75% to $1M | 680+ score70% LTVloans to $2M |
What to know.
- Documentation
- Full doc & alternative pathsBank statements, 1099, P&L, WVOE and asset utilization follow different tiers.
- Purchase LTV
- Up to 90%Primary residence; 700+ FICO through $1.5M with full doc, bank statements or 1099. Other overlays apply.
- Loan ceiling
- Up to $4MPrimary purchase / rate-and-term; 720+ FICO, up to 70% / 65% LTV in the top full doc, bank statement or 1099 tier.
- Credit
- 620-score tierPrimary purchase / rate-and-term through $1M at 70% LTV in the full doc, bank statement or 1099 lane; no cash-out in this tier.
- Occupancy
- Primary · Second home · InvestmentSeparate occupancy matrices set the available loan structure.
- Additional paths
- Prime Plus & ITINUse their dedicated matrix and overlays, rather than the standard Prime figures.
- Ways to qualify
- Full doc, bank statements, P&L only, WVOE only, asset utilization and ITINNot offered: DSCR, foreign national and recent credit event.
Documents.
Other programs.
Compare with
Questions brokers ask.
Does every income method allow the same leverage?
No. P&L, WVOE and asset-utilization paths have separate leverage and credit requirements. Choose the documentation method before using a matrix row.
What should I check before using business statements?
Confirm the borrower’s ownership, the statement period and the treatment of transfers and business expenses. Qualifying income is not the same as total deposits.
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