Matrix.
See the basic qualifiers for a Rental Property Mortgage.
G1 Investment, LLC | Rental Program MatrixEffective 01/29/2023 | |||||||||
DSCR Non‐Owner Occupied Transactions | |||||||||
Maximum LTV/CLTVs | >= 1.00 DSCR | ||||||||
Credit Score | Loan Amount | Purchase | R/T Refinance | Cash-Out Refinance | |||||
720+ | <=1,000,000 | 80 | 75 | 75 | |||||
700- 719 | <=1,000,000 | 80 | 75 | 75 | |||||
| 1,000,001 – 1,500,000 | 75 | 70 | 70 | ||||||
| 1,500,001 – 2,000,000 | 70 | 65 | 65 | ||||||
| 2,000,001 – 3,000,000 | 70 | 70 | NA | ||||||
660 – 699 | <=1,000,000 | 75 | 70 | 70 | |||||
| 1,000,001 – 1,500,000 | 75 | 70 | 70 | ||||||
| 1,500,001 – 2,000,000 | 70 | 65 | 65 | ||||||
| 2,000,001 – 3,000,000 | 65 | NA | NA | ||||||
620 – 659 | <=1,000,000 | 70 | 65 | 65 | |||||
| 1,000,001 – 1,500,000 | 65 | NA | NA | ||||||
| 1,500,001 – 2,000,000 | 65 | NA | NA | ||||||
| 2,000,001 – 3,000,000 | 60 | NA | NA | ||||||
Maximum LTV/CLTVs | < 1.00 | ||||||||
720+ | <=1,000,000 | 75 | 70 | 70 | |||||
700- 719 | <=1,000,000 | 70 | 70 | 70 | |||||
| 1,000,001 – 1,500,000 | 70 | 65 | 65 | ||||||
| 1,500,001 – 2,000,000 | 65 | 60 | 60 | ||||||
| 2,000,001 – 3,000,000 | 60 | NA | NA | ||||||
660 – 699 | <=1,000,000 | 70 | 65 | 65 | |||||
| 1,000,001 – 1,500,000 | 70 | 65 | 65 | ||||||
| 1,500,001 – 2,000,000 | 65 | 60 | 60 | ||||||
| 2,000,001 – 3,000,000 | 60 | NA | NA | ||||||
BANKRUPTCY*/HOUSING EVENT SEASONING RESTRICTIONS | MORTGAGE DQ RESTRICTIONS | DEROGATORY CREDIT PRICING ADJUSTMENT | |||||||
| > 36 MONTHS | 1 x 30 x 12 | No Adjustment at any Loan Amount | |||||||
| > 24 MONTHS | 2 x 30 x 12 | Max 75% LTV Purch. & Max 70% LTV All Refi ‐ See Quick Pricer for price adj. | |||||||
| 0 x 60 x 12 | Max 70% LTV Purch. & Max 65% All Refi ‐ See Quick Pricer for price adj. | ||||||||
*CHP 7/11 BK SEASONING BASED ON DISCHARGE DATE | CHAPTER 13 SEASONING BASED ON FILING DATE | ALL DSCR Transactions require 24 months Seasoning from BK or Housing Events | |||||||||
Property Type/Max LTV | NW Condo | Condo | 2‐4 Unit (1+DSCR required) | Modular | Rural | ||||
| Purchase | 70% | 80% | 80% | 80% | N/A | ||||
| R&T | 70% | 80% | 80% | 80% | N/A | ||||
| Cash‐Out | 65% | 70% | 70% | 70% | N/A | ||||
General Requirements | |||||||||
Product Type | Fixed Rate Terms: 15, 30, 40-years (IO Only); 5/6 ARM, 7/6 ARM, (40-year term ARMs available when combined with interest only feature) | ||||||||
Interest Only | Max 80% LTV (DSCR < 1 ‐ max 75%) | Note additional reserve requirements | Min 680 FICO | ||||||
Loan Amounts | · Min: 150,000 | · Max: 3,000,000 | |||||||
Loan Purpose | Purchase, Rate/Term, and Cash Out | ||||||||
Occupancy | Investment | ||||||||
Cash-In-Hand | Currently Free & Clear OR LTV < 50%: Unlimited LTV >50% Max $1,000,000 | ||||||||
Required Reserves | |||||||||
Qualification | Property Type | Loan Amount/Threshold | Reserves | ||||||
DSCR | All | $150,000 ‐ $500,000 | 3 Months | ||||||
| $500,001 ‐ $999,999 | 6 Months | ||||||||
| $1.0M ‐ $1.499M | 9 Months | ||||||||
| > $1.500M | 12 Months | ||||||||
| Interest Only | 6 Months Minimum | ||||||||
Prepayment Penalty | Prepayment Penalties will be assessed (as allowed per applicable State and Federal Guidelines) at a 5% fixed rate. Prepayment Penalties prohibited in IA, KS, NM, and VT. PPP in AR, D.C., GA, KY, MI, MN subject to max terms. Loans made in NJ and IL must be vested in an LLC to be assessed a PPP. Loans made in NC, PA, or SC are subject to min. loan amounts. Contact your AE for details surrounding PPP verbiage or additional state restrictions. | ||||||||
DTI/DSCR Calculations | DTI is not calculated for DSCR transactions. | DSCR is Calculated by Dividing the Estimated Market Rent by the Full Monthly Payment: Debt‐Service Coverage Ratio = Estimated Monthly Rent / Proposed PITIA | ||||||||
| Borrowers qualifying using income documentation with ownership in more than 2 financed properties are required 2 additional months of reserves for each additional financed property. Additional reserves are based on the PITI plus HOA fees of the other financed properties. | |||||||||
| This material is intended solely for the use of licensed mortgage professionals. Distribution to consumers is strictly prohibited. Program and rates are subject to change without notice. | |||||||||
