Program highlights.
- Up to 50% DTI
- 30-year fixed and 30-year interest-only
- 1–4 units, non-warrantable condos and rural properties
- Credit events seasoned at least 4 years
Key figures.
- Score from
- 660
- allows 80% to $1M
- LTV up to
- 90%
- purchase, at 740+ to $1M
- Loans to
- $3.5M
- at 740+ and 65%
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, 1099 | 660+ score90% LTVloans to $3.5M90% at 740+ to $1M; $3.5M at 740+ and 65%; 660 allows 80% to $1M; rate/term 85% | 660+ score85% LTVloans to $3.5M85% at 700+ to $1M; $3.5M at 720+ and 60%; 660 allows 80% to $1M; rate/term 80% |
| Full doc, 1099, Cash-out | 660+ score80% LTVloans to $3M80% at 740+ to $1M; $3M at 720+ and 65%; 660 allows 70% to $1.5M | 660+ score75% LTVloans to $3M75% at 700+ to $1M; $3M at 700+ and 60%; 660 allows 70% to $1.5M |
| Bank statement, P&L, WVOE | 680+ score80% LTVloans to $3.5M80% at 680+ to $1.5M; $3.5M at 740+ and 65%; rate/term 75% | 680+ score80% LTVloans to $3M80% at 680+ to $1.5M; $3M at 720+ and 70%; rate/term 75% |
| Bank statement, P&L, WVOE, Cash-out | 680+ score70% LTVloans to $3M70% at 680+ to $1.5M; $3M at 740+ and 65% | 680+ score70% LTVloans to $2.5M70% at 680+ to $1.5M; $2.5M at 700+ and 65% |
| Asset utilization | 700+ score80% LTVloans to $3.5M80% at 700+ to $2M; $3.5M at 740+ and 65%; rate/term 75% | Not offered |
| Asset utilization, Cash-out | Not offered | Not offered |
What to know.
- Documentation
- Full doc · 1099 · Alt docBank statements, P&L, WVOE and asset utilization use their own matrix columns.
- Purchase LTV
- Up to 90%Primary residence; full doc or 1099, 740+ FICO and loan amount through $1M.
- Alt-doc LTV
- Up to 80% purchasePrimary residence; qualifying credit and loan tiers apply. Refinance limits differ.
- Loan ceiling
- Up to $3.5MPrimary purchase / rate-and-term only in the top tiers; leverage and documentation restrictions apply.
- Credit
- 660-score tierFull doc / 1099 primary tiers; alternative-documentation columns begin at 680 in the primary matrix.
- Occupancy
- Primary · Second home · InvestmentUse the appropriate occupancy table and its overlays.
- Ways to qualify
- Full doc, bank statements, P&L only, WVOE only and asset utilizationNot offered: DSCR, ITIN, foreign national and recent credit event.
Documents.
Other programs.
Compare with
By way to qualify
Each opens every JMAC program that takes that paperwork.
Questions brokers ask.
Are Silver’s bank-statement limits the same as Prime’s?
No. Silver puts bank statements in its alternative-documentation columns. Review Silver’s own FICO, loan amount and leverage combination.
Can cash-out proceeds satisfy reserves?
The reserve guidance permits net cash-out proceeds, subject to the applicable matrix requirement. Gift funds and 1031 exchange proceeds cannot satisfy reserves.
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