Specific Non-QM loan programs designed for maximum loan amounts
Dedicated Ultra-Jumbo Program: Our Horizon Elite Jumbo
The maximum loan amounts are specifically featured within the our Horizon Elite Jumbo series, a specialty program tailored for highly qualified, high-net-worth borrowers. This includes specific Non-QM loan programs designed for maximum loan amounts, offering flexible options for unique financial profiles that exceed traditional lending limits.
| Program | Maximum Loan Amount | Minimum FICO Requirement | Key Features |
| Horizon Elite Jumbo | $5,000,000 | 720 (up to $5MM) | Designed for Primary Residences only. Includes 30-year Fixed fully amortizing and 40-year Fixed Interest-Only (IO) options. Requires considerable assets to cover the down payment and reserves. |
Reserves Requirement: For the Horizon Elite Jumbo program, the reserve requirement increases significantly with the loan amount: 12 months of reserves are required if the loan amount is greater than $3.5 million up to $4 million, and 18 months of reserves are required for loan amounts greater than $4 million up to $5 million.
High-Limit Non-QM Series (Up to $3.5 Million)
Multiple Non-QM product series accommodate loan amounts well beyond GSE limits, often reaching up to $3 million or $3.5 million across different income documentation types (Full Doc, Alt Doc, Asset Qualifier).
1. Our Sharp Expanded and Horizon Programs
The Sharp Expanded program is designed for borrowers with clean credit history and offers the highest maximum loan sizes outside of the Elite Jumbo product.
- Sharp Expanded Program: Max loan size is $3.5 million. This program allows for Interest-Only payment options (Min 700 FICO, Max 85% LTV).
- Horizon Non-QM Standard/Expanded: This series offers loans up to $3,500,000 for Primary Residences and Investment Properties. For Primary Residences, loans up to $3.5 million require a minimum 700 FICO for Purchase/Rate & Term with an LTV of 75%.
- Sharp Premium Program: The maximum loan size is $3.0 million.
2. Our Advantage and Connect Programs
Other Non-QM series also reach high thresholds for primary and investment properties:
- Our Non-QM Advantage Standard/Expanded: Loans are available up to 3,500,000??forPrimaryResidencesandupto??2,500,000 for Second Homes/Investment Properties.
- Our Non-QM Connect Program: Max loan amounts can reach 3,000,000??forAssetQualifiertransactions,and??3,000,000 for Full Documentation products. Loan amounts exceeding $2,000,000 require Underwriting Manager approval, with no exceptions to the maximum loan amount.
3.Our Edge Elite Programs
The Edge Elite series, which includes Full Doc and Alt Doc options, also supports significant loan amounts:
- Edge Elite: Maximum loan amount is $3,500,000.
- Edge Standard: Maximum loan amount is $3,000,000.
- Edge Elite AUS / Edge Standard AUS: Programs using Automated Underwriting Systems (AUS) are capped lower, with a maximum loan amount of $2,500,000.
High-Limit Investor DSCR Programs
For real estate investors, Non-QM Debt Service Coverage Ratio (DSCR) loans often provide high loan limits, focusing on the asset’s cash flow rather than the borrower’s personal income.
- Horizon Non-QM DSCR: Maximum loan amount is $3,000,000.
- Edge Investor Classic DSCR 1.0+: Maximum loan amount is $3,000,000. Loan amounts greater than $2.5 million require a 30-year fixed term only.
- River DSCR: The maximum loan amount for standard single-family investment properties is 2,000,000??,andupto??2,500,000 for 2-4 unit properties (if DSCR ? 1.00 and certain criteria are met).
- While individual DSCR loans may have specific caps, the Investor tracks exposure to a single borrower/guarantor, generally limited to $5 million in unpaid principal balance (UPB) or 10 loans across the our Edge programs. The Sharp DSCR program allows maximum investor exposure up to $7.5 million in UPB or 10 residential properties.
Specialized Underwriting Requirements for High Loan Amounts
Loans exceeding certain thresholds are subject to increased scrutiny, particularly concerning collateral valuation:
- Second Appraisal Requirement: Loans with a loan amount greater than $2,000,000 require two full appraisals from separate, independent appraisers. The lesser of the two values is used for qualifying the loan-to-value (LTV) eligibility.
- LTV/FICO Matrix: As loan amounts increase within any Non-QM program (e.g., Advantage, Horizon, Edge), the maximum allowable Loan-to-Value (LTV) typically decreases, and the minimum required FICO credit score increases. For instance, Horizon Elite Jumbo limits the LTV to 65% for loans between $4,000,001 and $5,000,000.
- Cash-Out Limits: For many high-limit programs, the maximum cash-out proceeds allowed for a refinance transaction is capped at $1,000,000. However, some programs allow for unlimited cash-out funds if the LTV is ? 60%.
FAQ's
Our Horizon Elite Jumbo program offers a maximum loan amount of $5,000,000. This is a specialty program designed for high-net-worth borrowers.
The maximum cash-out (defined as cash in hand) for the Horizon Elite Jumbo program is limited to $1,500,000.
The maximum loan amount for the Non-QM Horizon DSCR program is 3,000,000∗∗.TheEdgeInvestorClassicDSCRprogramalsocapsloansat∗∗3,000,000.
For Horizon Elite Jumbo loans greater than $4,000,000 up to $5,000,000, 18 months of reserves are required.
How many months of cash reserves are required for the highest loan amounts under the Horizon Elite Jumbo program?
For Horizon Elite Jumbo loans greater than $4,000,000 up to $5,000,000, 18 months of reserves are required.
Loans with a balance greater than $2,000,000 require two full appraisals from separate, independent appraisers. The lesser of the two values is used for qualifying the loan-to-value (LTV).
The 40-year Fixed Interest-Only (IO) option is a common feature. The Horizon Elite Jumbo program offers this loan term.
The Sharp Expanded program provides a maximum loan size of $3.5mm.
The maximum loan amount for the Edge Elite program is 3,500,000∗∗.The∗∗HorizonNon−QMStandard/Expanded∗∗seriesalsooffersloansupto∗∗3,500,000.
Non-QM loans are crucial for serving jumbo loan borrowers because Non-QM products have no loan limit caps. This allows them to secure financing even when the loan amount exceeds the conventional limits.
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For informational purposes only. No guarantee of accuracy is expressed or implied. Programs shown may not include all options or pricing structures. Rates, terms, programs and underwriting policies subject to change without notice. This is not an offer to extend credit or a commitment to lend. All loans subject to underwriting approval. Some products may not be available in all states and restrictions may apply. Equal Housing Opportunity.
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