Deephaven’s Expanded-Prime Super Jumbo is a full doc loan that exceeds standard jumbo loan limits!

Close more loans for jumbo borrowers with our Super Prime Jumbo loan. This loan is ideal for self-employed borrowers to qualify using 1099, personal or business bank statements.

  • Minimum FICO 660
  • Loan amounts from $3.5 million to $5 million
  • Purchase LTV up to 75%
  • Refinance LTV up to 70%
  • 1099 plus YTD bank statements
  • 12-month personal or business bank statements
  • DTI up to 35%
  • Primary residences only
  • SFR, PUD, townhomes and 2–4-unit condos
  • Rural ineligible
  • 24 months reserves required
  • 6% seller contributions
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    FAQs

    How does Deephaven qualify borrowers for a Non-QM loan?
    There are several programs for qualifying a borrower’s ability to repay a Non-QM mortgage. Bank Statement programs provide income and cash flow verification. We may also utilize personal assets such as individual retirement accounts and stock accounts to qualify while property investors can use the rent on rental properties.

     

    How are Non-QM mortgage rates set?

    Non-QM mortgage rates adjust according to the individual characteristics of the loan and borrower profile. These include: loan-to-value ratio, down payment amount, credit score and history.

    What does Non-QM stand for?

    Non-QM stands for non-qualified mortgage. It is a term used to identify mortgages that do not meet requirements of federal agencies: Freddie Mac and Fannie Mae. Non-Agency is another term for Non-QM.

    Do Non-QM mortgages require a down payment?

    Yes, typically between 10% and 20%.

    What is the maximum amount a Non-QM customer can borrow?

    At Deephaven, the maximum loan amount is $3.5 million depending on the loan type.

    Which loan is right for my Non-QM borrower?

    The answer varies depending on the type of loan, the borrower’s credit profile and how the loan is to be qualified.

    Are there commercial Non-QM mortgages?

    Yes, there are. Deephaven offers DSCR (Debt Service Credit Ratio) loans for investment and business purposes.

    Can self-employed people get a Non-QM mortgage?

    Yes, in fact one of the primary reasons Non-QM mortgages were created was to provide loans to the self-employed.