ABCDEFGHIJKLMNY
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DTI TabGo to DSCR TabUse Ctrl+F (Control Find) to search page✅ - Yesx - No or N/AGreen - NicheRed - Alert
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Program (Last Update)A2 Alt-A 03-19-25A5 Alt-A 03-19-25A7 Alt-A 03-19-25B Alt-A 09-11-24B Non-Prime 09-11-24B2 Alt-A 09-11-24B2 Non-Prime 09-01-24B3 Alt-A 03-14-25C Alt-A 12-20-24F Alt-A 02/5/25H Alt-A Select 03-03-25H Alt-A Supreme 03-03-25
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Program Highlights
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Underwriting
In-HouseIn-HouseIn-HouseIn-HouseIn-HouseIn-HouseIn-HouseIn-HouseInvestorIn-HouseInvestorInvestor
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Lock Periods
15,30,45 day15, 30, 45 day15, 30, 45 day15, 30, 45 day15, 30, 45 day10, 25 , 40 day15, 30, 45 day15, 30, 45 day15, 30, 45 day15, 30, 45 day15, 30, 45 after approved15, 30, 45 after approved
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Lock Cut-Off
3:00 PM PST3:00 PM PST3:00 PM PST4:00 PST4:00 PST3:00 PST4:00 PM PST4:00 PM PSTLock after Approved4:00 PM PST 4:00 PM PSTLock after Approved
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OO, NOO, and 2nd Home
✅✅✅✅✅✅✅✅OO & 2nd Home Only✅✅✅
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Min Loan Amount
$250,000$250,000$250,000$250,000$250,000$250,000$250,000$250,000$250,000$250,000$250,000$250,000
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Max Alt-Doc Purchase 90% LTV/CLTV Ln Amt
x $3,000,000$1,000,000$1,500,000$1,500,000$1,000,000n/a$1,000,000$1.5M / 700 FICOx $2,000,000x
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Max Alt-Doc Purchase 80% LTV/CLTV Ln Amt
$3,000,000$3,000,000$2,500,000$2,500,000$2,500,000$2,000,000$2,000,000$2,500,000$3,000,000$2,500,000$3,000,000$2,000,000
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Max Alt-Doc Purchase 75% LTV/CLTV Ln Amt
$3,000,000$3,000,000$3,000,000$3,500,000$3,500,000$3,000,000$3,000,000$3,000,000$3,000,000$3,000,000$3,500,000$3,000,000
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Max Alt-Doc Purchase 70% LTV/CLTV Ln Amt
$3,000,000$3,000,000$3,000,000$3,500,000$3,500,000$3,000,000$3,000,000$3.0M (65% $3.5M)$3.0M (65% to $4M)$3,000,000$3,500,000$3,000,000
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Max Alt-Doc C/O 85% LTV/CLTV Ln Amt
x $3,000,000x x x x x x x x x x
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Max Alt-Doc C/O 80% LTV/CLTV Ln Amt
$3,000,000$3,000,000x $1,500,000$1,500,000$1,500,000x $1,000,000$1,500,000$2,500,000$2,000,000x
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Max Alt-Doc C/O 75% LTV/CLTV Ln Amt
$3,000,000$3,000,000$2,000,000$2,000,000$2,000,000$2,000,000$1,500,000$2,000,000$2,000,000$3,000,000$2,500,000$2,000,000
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Max Alt-Doc C/O 70% LTV/CLTV Ln Amt
$3,000,000$3,000,000$2,500,00070% $2.5M / 65% $3.5M70% $2.5M / 65% $3.5M$3,000,00070% $2.0M / 65% $3.0M70% $2.5M / 65% $3.0M$3,000,000$3,000,000$3,500,000$2,000,000
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EXCEPTIONS AVAILABLE to $10,000,000
x x x ✅x x x x ✅x ✅ ($8M max)x
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Min FICO
660660660620620620620660640660640680
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Max Interest Only LTV / Min FICO
80%85% / 66085% / 70085%%85%90%85%85% / 70080%80% to $2m/75% to $2.580% / 68075% / 700
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Max Concessions Primary Residence
6%<80%/3%>80%6%<80%/3%>80%6%<80%/3%>80%6%<80%/4%>80%(OO)6%<80%/4%>80%(OO)6%<80%/4%>80%(OO)6%<80%/4%>80%(OO)6%<65% 6%, >65 3%6%>75% / 9%<=75%6%-9% see matrix9%<75% / 6%>75%-80%
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Max Concessions Investment Property
6%<80%/3%>80%6%<80%/3%>80%6%<80%/3%>80%3%3%3%3%6%3%3%6%6%
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Living Rent Free
x if FTHB<= 3 Mo. last 12 mo.x if FTHBx if FTHBx if FTHBx if FTHBx if FTHB✅ FTHB OK w/ LOE✅Some (n/a noo)✅ (see guidelines)✅ (see guidelines)
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Broker RE Agent & Loan Officer
✅ x
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Citizenship
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Non-Perm Max LTV 85%90%80%80%80%80%80%80%Case by Case85%90%75%
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Non-Perm OO, NOO & 2nd Home✅✅✅✅✅✅✅✅✅✅✅OO/2nd Home/NOO
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Non Perm Cash-Out Allowed✅✅x x x x x x Case by Case✅✅✅
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Non Perm Gift Funds✅ no if NOO✅✅x x x x ✅Case by Case✅✅✅
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ITIN x x x x x x x ✅ (use DSCR FN)✅ 80% max LTV✅ 80% max LTV✅ see guidelines✅ see guidelines
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Income Documentation Options
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Combined Full Doc & Alt-Doc
Alt Doc & Non Self Emp inc
Asset Dep. & Full DocAlt-Doc & Non-SE Income✅✅
Alt-Doc & Non-SE Income
Alt-Doc & Non-SE IncomeAlt-Doc & Non-SE Income✅Alt-Doc w/ Alt-Doc (> of)Alt-Doc & Non-SE IncomeAlt-Doc & Non-SE Income
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1 & 2 Year Full Doc1 Yr or 2 Yr1 Yr or 2 Yrx 1 or 2 yr1 or 2 yr1 Yr or 2 Yr1 Yr or 2 Yr1 Yr or 2 Yr1 Yr or 2 Yr1 Yr or 2 Yr1 Yr or 2 Yr1 Yr or 2 Yr
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Full Doc Commission Historyx >= 1 Yr and < 2 Yrx 2 Yr2 Yr2 Yr2 Yr2 Yr2 Yr1 Yr case-by-case2 Yr2 Yr
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Full Non-Occ Co-Bwr BLENDED RATIOSx Occupant 43 DTIx ✅ 45% DTI blendedYes 45% DTI blendedLTV < 5% / 60 dti Occup.LTV < 5% / 60 dti Occup.
1unit,OO,43dti,80%,noC/O
x Blended Ratio OK65 dti for occupant Yes-Max DTI 50%
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SE >= 12 Mo. and < 24 Mo.x x x By ExceptionBy Exceptionx x x x Yes if same line workx x
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12 & 24 Month Bank Statements12 Mo or 24 Mo12 Mo or 24 Mo12 Mo or 24 Mo12 Mo or 24 Mo12 Mo or 24 Mo12 Mo or 24 Mo12 Mo or 24 Mo12 Mo or 24 Mo12 or 2412 Mo or 24 Mo12 Mo or 24 Mo12 Mo or 24 Mo
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FLAT Expense Factor50% All Bus. Types50% All Bus. Types50% All Bus. Types50%50%50% Most Bus. Types50% Most Bus. Types15% - 85% (see details)50%50%50% Most Bus. Types50%
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High Expense Factor Businessx x x x x 80% or P&L85%, EFL or P&LSee Chart Below50%x x
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Tax Preparer Expense Factor10%15% Min10%10% min10% min10% Min10% Min15% MinIf reasonableNo Min10% Min10% Min
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Min % Business Owned25% / P&L 50%%25%25%25%25%50%50%25%25%25%25%25%
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SE >= 12 Mo. and < 24 Mo.x OK if Licensedx x x x x x Case by CaseYes if same line workYes (see matrix)x
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Overdrafts/NSF's on Bank Statements3-12 mo, 6-24 mo3-12 mo, 6-24 mo3-12 mo, 6-24 mo5/12 mo, but if 1 last 3 mo, only 3/125/12 mo, but if 1 last 3 mo, only 3/121-2mo, 3-12mo, 0 last 3mo ok 5 in 12 mo3 in 12 mo, none in 3 mo then 6 in 12 mo.3-12 mo, 0-3mo ok 6 in 12 mo6, but, No Limit <$1.5 < 80%3 in 12 mo with LOX2-2mo, 5-12mo2-2mo, 5-12mo
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12 Month P&L NO Bank Statementsx x ✅ 80% max LTV✅✅✅✅✅x ✅✅ 80% max LTVx
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SE >= 12 Mo. and < 24 Mo.x x x x x x x x x ✅x x
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12 Month P&L w/ 2 mo. Bank Statements
x x x x x x x ✅✅ 80% max LTV✅Yesx
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SE >= 12 Mo. and < 24 Mo.x x x x x x x vx ✅x x
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12 Month 1099 Only✅ 80% max LTVx ✅✅✅✅✅✅x ✅✅✅
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1099 > 1yr & < 2yr if w2 same line of workx x x Case by CaseCase by Casex x ✅x ✅ if same line workx x
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1099 issued to a 100% borrower owned entity✅x ✅Case by CaseCase by Casex x x x x x x
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WVOEx x x 80% Purch, 70% Refi
2 yrs same Emp 660 min fico
x x ✅✅ 80% no FTHBx ✅✅
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Asset Utilization Calculationx Assets / 120x 80%, 660 score $/ 84mo80%, 660 Score $/84Mo$/84 Mo, 60 by except$/84 (60 by except)Assets / 84 (restrictions)60 moAssets/84 max 80% LTV 36 / 60 see guidesYes/84
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Min Assets post close assetsx no minx
< of - $1.0M or 150% ln amt
< of - $1.0M or 150% ln amt
< of - $1.0M or 150% ln amt
< of - $1.0M or 150% ln amt
< of $1.0M or 125% ln amt150% of Ln AmtNonex
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Asset Only x x x x x x x See Guidelines100% of loan 75% purch, 70% refi100%Ln+60MoDebtx x
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RSU Incomex 2 yr recpt. / 3 yr cont.✅ per FNMA2 yr recpt. / 3 yr cont.2 yr recpt. / 3 yr cont.2 yr recpt. / 3 yr cont.x 2 Yrs recpt + 3 yrs contcase by case2 yr recpt. / 3 yr cont.case by casecase by case
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DTI (Lowest or Primary Earner)
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Max DTI Full Doc50505055 w/ restrictions55 w/ restrictions55 w/ restrictions55 w/ restrictions55 w/ restrictions5050 (45 fthb > 80%)55 w/ restrictions43 (50 if +740 Fico)
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Max DTI Alt-Doc5050505050505055 w/ restrictions5050 (45 fthb > 80%)55 w/ restrictions43 (50 if +740 Fico)
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Assets
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Seasoning60 days30 days60 days60 days60 days60 days60 days30 days60 days30 days30 days30 days
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Securities70%100%70%75%75%75%75%100%100%100%100%100%
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Vested Retirement100% if disbursed60%100% disbursed70%70%70%70%100%100% if disbursed80% / 100% if 59.5 yrs70%60%-70%/Vested 100%
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Business Funds✅ 100% owner✅ 100% owner✅ 100% owner✅ w/ analysis✅w/ analysis✅ w/ Letter✅ w/ Letter✅ w/ Letter✅ 100% owner✅ w/ Letter✅No
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Months Reserves
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$500k / $1,000,0006 Mo.6 Mo.6 Mo.3 Mo.3 Mo.6 <= 85% /12 > 85%6 <= 85% /12 > 85%6 Mo.(None to 75%...3 Mo.3-6 mo (see matrix)3 < $500K / 6 > $500K
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$1.0M to $1.5M6 Mo.9 Mo.6Mo.6 Mo6 Mo6 <= 85% / 12 > 85%6 <= 85% /12 > 85%9 Mo....6 mo 75%-85%...6 Mo.6-9 mo (see matrix)6 Mo.
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$1.5M to $2.0M6 Mo.9 Mo.6Mo.9 Mo9 Mo9 Mo9 Mo9 Mo....12 mo > 85%)9 Mo.9-12 mo (see matrix)6 Mo.
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$2.0M+9 Mo.12 Mo.9Mo.12 mo.12 mo.9 Mo9 Mo12 Mo.x 9 Mo.9-12 mo (see matrix)12 Mo.
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2 Mo each property NOT equired?x but 12 mo max✅x but 12 mo maxx but 12 mo maxx but 12 mo maxx x ✅✅x
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Rate & Term RefiSameSameSameSameSameSameSameSameSame-0- <= LTV 65%SameSame
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Gift Funds
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Full Doc5% from Borrower3% from Bwr5% from Bwr > 80% ltv<=75% all gift ok>75%, 5% from borrower100% if <= 75% LTV100% if <= 75% LTV100% if <= 75% LTV100% on OwnerOK 100% Primary5% from Bwr for OO5% > 70% (1 unit only)
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Alt-Doc5% from Borrower3% from Bwr5% from Bwr > 80% ltv<=75% all gift ok>75%, 5% from borrower100% if <= 75% LTV100% if <= 75% LTV100% if <= 75% LTV100% on OwnerOK 100% Primary5% from Bwr for OO5% > 70% (1 unit only)
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Gift Funds NOOx x x 100% if <= 75% LTV100% if <= 75% LTVn/a>80% / 100%<= 75%15% from Bwr10% from Bwr10% from Bwr & 2nd hmYes / 10% min
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Gift of EquityOO and 2nd HomeOO & 2nd Home OKOO & 2nd Home OKPrimary OnlyPrimary OnlyPrimary OnlyPrimary Onlyx Primary OnlyOO & 2nd Home OKOO w/ restrictions✅
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Cash Out
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Use Cash Out for Reserves✅✅✅✅✅<= 65%<= 65%✅✅✅✅
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Max Cash-in-HandUnlimited$1,000,000See Matrix500k to 70%, 50% to 70% $1m500k to 70%, 50% to 70% $1m
$500K>70%,$1.0M<70%...
...unlimited < 50% LTV$750K>60%/Unlim.<=60%Unlimited>65%/$1mm, <65% unlim
<60%-Unlimited/see matrix
$1M ($0 if declining mkt)
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Listed/Previously OO
Removed Prior-to-Close
6 months
Removed Prior-to-Close
6 months6 months6 mo. for C/O6 mo. for C/O6mo.R&T / 12mo.C/O6 months1 mo. r&t / 3 mo. c/o6 mo. for C/O6 mo. for C/O
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Listed/Previously NOO
Removed Prior-to-Close
6 months
Removed Prior-to-Close
OK w/ 3 yr PPOK w/ 3 yr PPOK w/ 3 yr PPOK w/ 3 yr PP6mo.R&T / 12mo.C/O6 months1 mo. r&t / 3 mo. c/oOK w/ 7+ mo. PPn/a
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Seasoning for Appraised Value12 Months12 Months6 Months6 Months6 Months6 months6 months12 Months6 months6 Months6 Months6 Months
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1st Time Home Buyer (primary residence)
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Max DTI50%50%50%50%50%45% (OO Only & No IO)43% (OO Only)50% w/ restrictions43%50%50% (55% if 40 yr)43% (1 unit OO only)
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Min Reserves6 monthsSame as aboveSame as above6 months6 Months6 months6 monthsSame as above70% if no Housing HistSame as aboveSame as above12 Months
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Other0 x 30 VORNo Interest OnlyNo IO, $2M max ln amt0 x30 housing0 x30 housingNo Rent FeeNo Rent FeeNo IO1st Time Investor$1.5M mx Ln Amt0x30x12 housing
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Other12 Month VORNo NOO85% max cltv12 Month VOR12 Month VOR680 Min FICO681 Min FICOLiving Rent Free OK2nd home ok7 yr no major derogs
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Other680 min fico, no noo
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No Payment Shock Restrictions✅✅
ITIN: 300% if DTI > 40%
ITIN: 300% if DTI > 40%250% Max300% MaxITIN: 300% if DTI > 36%✅✅ but considered
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Property
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Two Appraisals Needed if...Loans > $1.5MLoans > $2.0MLoans > $1.5MLoans >$2.0MLoans > $2.0MLoans > $2.0MLoans > $2.0MLoans > $2.0MPur > $2M / Refi > $1.5MLoans > $2.0MLoans > $2.0MLoans > $2.0M
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No CDA Required?x x x x x CU Score + CDAx No if CU score < 2.5Per UnderwriterNo if CU score < 2.5x x
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Appraisal Transfers Allowed✅✅✅✅✅✅✅✅✅✅Investor to ApproveInvestor to Approve
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ADU Income: sfr + 1 ADUFannie guidesFannie GuidesFannie Guides✅✅1 ADU can't use rentFannie GuidesFannie Guides✅ see guides (refi only)✅ see guides✅ see guides
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Minimum Square Footage Residence400600 sq ft400Underwriter DiscretionUnderwriter Discretion700 sq ft 400 per unit700 sq Ft 400 per unitFannie Guides500 sq feet400400
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Single Family Residence85%90% Max90% Max90% Max90% Max90% Max85% Max90% Max85%90% Max80% Max
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Second Home85% to $2M / 68090% Max85% Max80% Max80% Max80% Max70% Max85% Max80% Max85% Max80% Max
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Investment Property80% to $2M80% Max85% Max80% Max80% Max80% Max80% Max85% Max80% Max85% Max80
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2-4 Units80%90% Max85% Max85% Max85% Max85% Max85% Max85% Max80% Max80%75% Max - restrictions
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Condos85%90% Max85% Max85% Max85% Max85% Max85% Max85% Max85% Max85% Max (75% C/O)80% Max
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Non Warrantable Condo -typically only 1 below per loan
A1-No/A2-Yes but No FLx 80% Max-No FL80% Max80% Max80% Maxx 80% MaxCase by CaseYes / max 80% LTV85% Max (75% C/O)x
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Mandatory Membership Condos OKxxxxxxxxxx✅✅