Wholesale
It’s not just about the loan. It’s about your reputation, too.
Your reputation with your borrowers and their real estate agents is your most valuable asset. That’s why your Deephaven account executive will be there for you every step of the way—providing guidance on which of our loan programs may be most appropriate for a borrower, ensuring the application process goes smoothly, and that you always have the information and answers to questions they want and need. More than 1,000+ independent mortgage brokers across the country count on their Deephaven account executives to establish their reputation in as the top non-agency broker in their area. We’d like nothing more than to show you first-hand how we can do the same for you.
Programs
Deephaven offers a core suite of mortgage products — each with its own set of flexible features and terms.
Expanded-Prime
Borrowers at least 4 years past a housing event. Loan-to-Values up to 90%
| Credit scores down to 660 |
| LTVs up to 90%, No MI |
| Loan Amounts up to $3.0M |
| DTIs up to 50% |
| Standard Full Doc & Self-Employed Bank Statement Options (12 or 24 Months) |
| Second Home, Investment Properties, and Interest-Only Options |
| Cash-Out solutions to unlock equity or consolidate debt |
Non-Prime
Flexible solutions for borrowers recovering from recent credit impairments
| Credit scores down to 620 |
| LTVs up to 80%, No MI |
| Loan Amounts up to $1.5M |
| DTIs up to 50% |
| Standard Full Doc & Self-Employed Bank Statement Options (12 or 24 Months) |
| Interest-Only Options |
| Cash-Out solutions to unlock equity or consolidate debt |
DSCR
Borrowers looking to qualify based on property income
| Credit scores down to 660 |
| LTVs up to 80% |
| Ability to vest in name of LLC or corporation |
| Loan Amounts up to $2M |
| No borrower income or employment information required |
| Interest-Only options to maximize property cash flow |
| Cash-Out solutions to unlock equity for future investments |
Jumbo-Prime
Loan Amounts up to $3M, no PMI
| Max Cash-Out up to $500k |
| Credit Scores down to 660 |
| DTIs up to 43% |
| LTV up to 89.99% (up to $2M) LTV up to 80% (up to $3M) |
| Full Doc only – Refer to Appendix Q standards |
| Primary, Second Homes, and Investment Properties |
Features
At Deephaven, we go above and beyond basic loan programs and products. Our bank statement program offers more ways to use bank statements to evaluate the borrower’s financial position and our Total Asset Calculation program uses a broader range of borrower assets for qualifying a loan.
Personal & Business Bank Statements
Solutions for self-employed borrowers and small business owners
| Available under Expanded-Prime & Non-Prime programs |
| Both 12 & 24 months options |
| Credit scores down to 620 |
| LTVs up to 90% |
| Loan amounts up to $3.5 million |
| DTIs up to 50% |
Asset Utilization
Solutions for high net worth borrowers, retired individuals, or those with meaningful assets
| Available under Expanded-Prime program |
| Both DTI & No DTI qualification options |
| Credit scores down to 660 |
| LTVs up to 80% |
|
Loan amounts up to $3.5 million |
Interest Only
Solutions for borrowers to optimize monthly payment obligations
| Available under Expanded-Prime, Non-Prime, and DSCR programs |
| Credit scores down to 620 |
| LTVs up to 80% |
|
30-year fixed, 30-year interest-only and 40-year interest-only options |
|
Loan amounts up to $3.5 million |
Non-Warrantable Condos
Solutions for condo projects outside Agency guidelines
| Available under Expanded-Prime, Non-Prime, and DSCR programs |
| LTVs up to 80% |
| Loan amounts up to $3.5 million |
Business Purpose
Solutions for real estate investors
| Available under DSCR program |
| Ability to vest in LLCs & corporations |
| Ability to borrow in the name of a LLC |
| Interest-only options to optimize cash flow |
| Underwritten based on subject property rental income |
| LTVs up to 80% |
Tools & Resources
From guidelines to application forms, here is everything loan officers need to match borrowers to the right Deephaven mortgage.
Request for Verification of Earnings
Lock Policy
HOA Certification
Gift Letter
1-4 Family Rider
Condominium Project Questionnaire
Business Purpose & Occupancy Affidavit
Borrower’s Certification & Authorization
Appraisal Transfer Policy
Borrower/Broker Compensation Agreement
Broker Approval and Renewal Policy
Self-Employed Business Narrative
Deephaven Income Calculator
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.