Bank Statement, P&L, 1099, WVOE – Platinum – updated 5/1/25
Bank Statement, P&L, 1099, WVOE – Platinum
Web-ready guideline summary for the Platinum Non-QM product. This block organizes the program snapshot, maximum LTV / CLTV matrix, loan amount overlays, documentation options, and key underwriting requirements for quick broker review.
$125,000 to $3,000,000
85% / 660
50% FTHB max 45%
Primary / Second Home / Investment
Eligible
30/40 Yr Fixed; 5/6 & 7/6 ARM
SFR, SFR+ADU, Modular, 2-4, Condo, Co-op, Rural ≤20 acres
US Citizen / PRA / NPRA
Maximum LTV / CLTV by FICO bucket and transaction type. Values may be limited by loan amount, interest-only, documentation type, declining market, and other overlays.
| FICO | Purchase & Rate/Term | Cash-Out |
|---|---|---|
| 760+ | 85% | 80% |
| 740-759 | 85% | 80% |
| 720-739 | 85% | 80% |
| 700-719 | 80% | 80% |
| 680-699 | 80% | 75% |
| 660-679 | 70% | 70% |
- < $150,000: max 80% LTV
- > $1,000,000 to $2,000,000: max 85% LTV
- > $2,000,000 to $2,500,000: max 80% LTV
- > $2,500,000: max 75% LTV
- > $2,000,000: minimum FICO 680
- ≤ $2,000,000: max 80% LTV where applicable
- ≤ $2,000,000: 1 appraisal plus CDA
- > $2,000,000: 2 appraisals
| Option | Guidance |
|---|---|
| P&L Only | 12/24 month option; max loan amount $2,000,000. No bank statement option allowed. |
| WVOE | Primary only. Minimum FICO 680. FTHB max 70% LTV. No gift funds allowed. Requires 24-month 0x30 mortgage history. |
| Full Doc | Standard income documentation; wage earners and self-employed borrowers allowed. |
| 12/24M Bank Statements | Personal or business bank statements. Business analysis may use fixed ratio, third-party ratio, or third-party P&L. |
| 1099 Reduced Doc | 1099 reduced-documentation income as an Alt Doc option. |
| Asset Utilization / Depletion | Asset-based income. Max LTV 80% where applicable. |
- FICO < 720: max 75% LTV for interest-only.
- > 75% LTV requires minimum FICO 700.
- > $2,000,000 requires minimum FICO 680.
- 660-679: minimum FICO 660.
- < $1,000,000: 3 months.
- $1,000,000 to $1,500,000: 6 months.
- > $1,500,000: 9 months.
- Rate/Term ≤ 65% LTV: no minimum reserves.
- > 65% LTV: $1,000,000 cash-out limit.
- ≤ 65% LTV: unlimited cash-out.
- Minimum residual: $1,500.
- Baltimore, MD and Philadelphia, PA not permitted.
- MI / OH / RI priced as No PPP.
- Declining markets require a 5% reduction.
- No gift funds on asset utilization / depletion.
- Credit event seasoning: 36 months.
- 5/6m ARM: 30-day average SOFR margin 3.75%, 6% initial adjustment, caps 2/1/5.
- 7/6m ARM caps: 5/1/5.
- Credit event seasoning: 36 months.
- Mortgage DQ 12 months: 1×30.
- 1x30x12 or credit event: max 80% LTV.
- Declining markets require 5% LTV reduction when LTV > 65%.
This web block summarizes the uploaded Platinum Non-QM matrix for page display. Always confirm final eligibility, pricing, and overlays against current investor guidelines.
JET DSCR – Platinum updated 5/1/25
JET DSCR – Platinum
Web-ready guideline summary for the Platinum DSCR product. This block organizes the program snapshot, maximum LTV / CLTV matrix, loan amount overlays, income treatment, and key underwriting requirements for quick broker review.
$100,000 to $3,000,000
80% / 700
0.80 Foreign National: 1.00
Investment Property
30 Yr Fixed; 30 Yr IO; 40 Yr IO; 5/6 & 7/6 ARM
Gross Rental Income / PITIA or ITIA for IO
US Citizen / PRA / NPRA / Foreign National
SFR, ADU, Modular, 2-4, Condo, Co-op, Rural ≤20 acres
Maximum LTV / CLTV by FICO bucket and transaction type. Values may be limited by DSCR, foreign national status, property type, short-term rental, declining market, and other overlays.
| FICO | Purchase & Rate/Term | Cash-Out |
|---|---|---|
| 760+ | 80% | 75% |
| 740-759 | 80% | 75% |
| 720-739 | 80% | 75% |
| 700-719 | 80% | 75% |
| Foreign National | 70% | 65% |
- Maximum loan amount: $3,000,000.
- Minimum loan amount: $100,000.
- Foreign National maximum loan amount: $2,000,000.
- Loan amounts greater than $1,500,000 are capped at 65% LTV.
- Loan amounts ≤ $2,000,000 require 1 appraisal plus CDA.
- Loan amounts > $2,000,000 require 2 appraisals.
- Warrantable condo max 80% LTV.
- Non-warrantable condo max 75% LTV.
- 2-4 unit properties max 80% LTV.
- Condotel max loan amount $1,000,000 / min $150,000.
- Condotel purchase max 75%; rate/term and cash-out max 65%.
- Max LTV 70%; cash-out max 65%.
- Condotels not permitted.
- Interest-only not permitted.
- Minimum DSCR 1.00.
| Category | Guidance |
|---|---|
| DSCR Income Method | DSCR = Gross Rental Income / Qualified Monthly Mortgage Payment (PITIA), or ITIA for interest-only loans. |
| Short-Term Rent | DSCR may be calculated using short-term rental income where eligible. Apply applicable LTV reduction. |
| Subordinate Financing | Not allowed. |
| Occupancy | Investment property only. |
- Minimum DSCR: 0.80.
- Foreign National minimum DSCR: 1.00.
- DSCR < 1.00 loans require min FICO 720, max 75% LTV, max 70% cash-out LTV, and max loan amount $1,500,000.
- Condotel and interest-only are not permitted when DSCR < 1.00.
- < $1,000,000: 3 months.
- $1,000,000 to $1,500,000: 6 months.
- > $1,500,000: 9 months.
- Foreign National: 12 months.
- 760+ FICO and > 65% LTV: $1,000,000 cash-out cap.
- ≤ 65% LTV: unlimited cash-out.
- Foreign National cash-out cap: $250,000.
- Interest-only is eligible.
- Foreign National: interest-only not permitted.
- Interest-only not permitted when DSCR < 1.00.
- Short-term rental reduces max LTV by 5%.
- First-time investor: max LTV 75%.
- First-time investor: minimum DSCR 1.00.
- First-time investor: 12 months reserves.
- Foreign National: STR available with overlays.
- Baltimore, MD and Philadelphia, PA not permitted.
- MI / OH / RI priced as No PPP.
- Prepayment penalties per guidelines.
- Declining markets require a 5% LTV reduction when LTV > 65%.
- Rate/term transactions at ≤ 65% LTV have no minimum reserve requirement.
- 5/6m ARM: 30-day average SOFR margin 6.0%, caps 2/1/5.
- 7/6m ARM caps: 5/1/5.
This web block summarizes the uploaded Platinum DSCR matrix for page display. Always confirm final eligibility, pricing, and overlays against current investor guidelines.