Loan programs
Agency, government, jumbo, and non-QM. Guidelines below are the common case — overlays and exceptions get reviewed on the scenario call.
01 / Purchase
Every purchase pre-approval is desk-underwritten before it goes out, so the letter your agent sends holds up under a multiple-offer review.
| Program | Min down | Min FICO | Max loan | Best for |
|---|---|---|---|---|
| Conventional fixed30, 20, 15 year terms | 3% | 620 | $806,500 | Standard W-2 buyers |
| Conventional high balanceHigh-cost county limits | 5% | 680 | $1,209,750 | Orange, LA, Bay Area |
| FHA 203(b)Government insured | 3.5% | 580 | $1,209,750 | Thin credit, higher DTI |
| VA purchaseFull entitlement | 0% | 580 | No county cap | Veterans, active duty |
| Jumbo 30-yearPortfolio and correspondent | 10% | 700 | $3,000,000 | High-balance purchases |
| 7/6 & 10/6 SOFR ARMFixed period, then adjusts | 10% | 680 | $3,000,000 | Buyers with a 5–10 yr horizon |
| Down payment assistanceState and county DPA programs | 0–1% | 640 | $1,209,750 | First-time buyers short on cash |
| QM community loanUnderserved-area pricing | 3% | 620 | $806,500 | Eligible census tracts |
02 / Refinance
We start with the break-even month. If the math doesn't clear your timeline, we'll say so and put a rate alert on the file instead.
| Program | Max LTV | Min FICO | Appraisal | Typical use |
|---|---|---|---|---|
| Rate & term refinanceConventional | 95% | 620 | Required* | Lower the rate or drop MI |
| Cash-out refinancePrimary residence | 80% | 640 | Required | Debt consolidation, renovation |
| FHA streamlineExisting FHA loan | n/a | 580 | Not required | Fast rate reduction |
| VA IRRRLExisting VA loan | n/a | 580 | Not required | Fast rate reduction |
| HELOCSecond lien, draw period 10 yr | 90% CLTV | 680 | AVM often accepted | Keeping a low first mortgage |
| Closed-end secondFixed rate, 15–30 yr | 85% CLTV | 680 | Required | Fixed payment on equity |
*Appraisal waivers are granted case by case by the automated underwriting system.
03 / Investor & self-employed
Business owners write off income on purpose, and rental portfolios blow past agency limits. These programs qualify the property or the deposits instead.
| Program | Qualifies on | Max LTV | Min FICO | Max loan |
|---|---|---|---|---|
| DSCRInvestment property, 1–4 units | Rental income, 0.75x min | 80% | 640 | $3,000,000 |
| Airbnb / short-term rentalClosed-end second available | Projected short-term rents | 75% | 680 | $2,000,000 |
| Bank statementSelf-employed 2+ years | 12 or 24 months deposits | 90% | 660 | $3,000,000 |
| CPA-prepared P&LNo tax returns | CPA profit & loss statement | 85% | 680 | $3,000,000 |
| Self-prepared P&LBusiness owner writes it | Borrower profit & loss | 80% | 700 | $2,500,000 |
| No incomeAsset-qualified | Liquid assets and reserves | 70% | 700 | $3,000,000 |
| No job, no incomeInvestment property only | The property alone | 65% | 700 | $1,500,000 |
| ITIN & foreign nationalNo US credit required | ITIN or foreign assets | 75% | 660 | $2,000,000 |
| Fix & flip / bridge12–18 month term | Experience + exit plan | 85% LTC | 660 | $5,000,000 |
Common questions
Three percent on a conventional loan for a first-time buyer, 3.5% on FHA, nothing on VA. Below 20% you'll carry mortgage insurance, which typically falls off once the loan reaches 78% of the original value. Gift funds from family are allowed on most programs with a signed gift letter and a paper trail on the transfer.
The first pull is soft and has no effect on your score. A hard pull happens when the file goes to underwriting, and mortgage inquiries within a 45-day window are scored as a single event — so shopping several lenders in the same month costs you nothing.
On agency loans, two years of personal and business returns plus a year-to-date profit and loss. On bank statement programs, 12 or 24 months of business or personal statements and a CPA or business license verification — no returns, no transcripts.
Yes, through a DSCR loan. Qualification is based on the property's rent divided by the payment, including taxes, insurance, and HOA. A ratio of 1.0x means the rent covers the payment; we can go to 0.75x with pricing adjustments, and no-ratio options exist for lower rents.
Fifteen days is typical on a purchase with a responsive borrower and a cooperative listing side; 21 days is the safe number to write into a contract. Refinances run 20–30 days because of the three-day rescission period and title work.
You get a written fee worksheet with your quote and a Loan Estimate within three business days of application: lender fees, points, title, escrow, appraisal, and prepaids, all itemized. If you're buying the rate down, we show the break-even month next to it.
Send the scenario — property type, rough income picture, timeline — and we'll come back with the two or three that actually work.
