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JUMBO PROGRAM COMPARISON TOOL

JUMBO PROGRAMS
Sapphire
Jade
Ruby AUS
Opal AUS
Topaz AUS
Jumbo A Series
Select NonConforming
Product Type
30 Yr | 15 Yr
30 Yr | 15 Yr
7/6 and 10/6
​ARMs
30 Yr | 15 Yr
30 Yr | 15 Yr
7/6 & 7/10
​ARMs

30 Yr | 15 Yr  with a  5, 7, 10 Yr ARM available
30 Yr
Interest Only
No
No
​No
No
No
No
No
Max Loan Amount
$3.0 MM
$2.0 MM
$3.0 MM
$3.0 MM
$2.5 MM
$3.0 MM
​$2.0 MM
Min Loan Amount
$1 Over Conforming
​Loan Limits
$400K
$400k
$1 Over
Conforming

​Loan Limits
$1 Over
​Conforming

​Loan Limits
​$1 Over
​Conforming

​Loan Limits
​$1 Over
​Conforming

​Loan Limits
Occupancy
O​O/2nd/Inv
O​O/2nd Home
O​O
​OO/2nd Home
​OO/2nd Home
O​O/2nd
​O​O/2nd/Inv
Property Type
SFR | PUD Warrantable
​Condo | 2-4 Units
SFR | PUD Warrantable
​Condo | 2-4 Units
SFR | PUD Warrantable
​Condo | 2-4 Units
SFR | PUD Warrantable
​Condo | 2-4 Units
SFR | PUD Warrantable
​Condo | 2-4 Units
​SFR | PUD Warrantable
​Condo | 2-4 Units
​SFR | PUD Warrantable
​Condo | 2-4 Units
Transaction Type
​Purch|RT|Cash-Out
​​Purch|RT|Cash-Out
​​Purch|RT|Cash-Out
​​Purch|RT|Cash-Out
​​Purch|RT|Cash-Out
​Purch|RT|Cash-Out
​Purch|RT|Cash-Out
Delayed Financing
Yes*
Yes*
Yes*
Yes*
Yes*
No
​Yes*
Max Cash-Out
​$500K O/O
$350K 2nd/Inv.
​$500K
O/O & 2nd
$500K
​​$350K O/O
$300K 2nd
$500K
$250K
​$500K
Min. FICO
660
660
660
700
680
720
​680
O/O Max LTV
89.99%
80.00%
89.99%
80%
80%
80%
85%
Max DTI
45
45
45
43 with restrictions
43
41%
45%
Residual Income
N/A
N/A
N/A
N/A
N/A
N/A
​residual income > or = $3,000.00 is required – NO EXCEPTIONs​
AUS
Approved/
​Ineligible
Approved/
Eligible and 
Approved / 
Ineligible for loan amount
Approved/
Eligible and 
Approved / 
Ineligible for loan amount
Approved/
​Ineligible
​Approved/
​Ineligible
None
​Manual Underwriting
Doc Type
Full Doc
Full Doc
Full Doc
Full Doc
Full Doc
Full Doc
Full Doc
Min. Credit Requirements
All Borrowers must have min 2 FICO Scores. 
​​As Per DU / LPA Minimum Credit Requirements.
All Borrowers must have min 2 FICO Scores. 
​​As Per DU / LPA Minimum Credit Requirements..
​All Borrowers must have min 2 FICO Scores. 
​​As Per DU / LPA Minimum Credit Requirements..
All Borrowers must have min 2 FICO Scores. 
​​As Per DU / LPA Minimum Credit Requirements..
All Borrowers must have min 2 FICO Scores. 
​​As Per DU / LPA Minimum Credit Requirements..
All Borrowers must have 
​4 Open Tradelines, 1 Active for 24 Mo. and other 3 rated for 12 months.  Non-traditional credit not acceptable.
  • Three or more established open and active tradelines
  • All active in the last 12 months.
Housing History
For borrowers with mortgage or rental history, borrower must have 0X30 lates in the past 24 months. ​If primary residence housing history reflects a forbearance arrangement, the payment history must reflect 0X30 lates in the most recent 24 months since exiting forbearance.
For borrowers with mortgage or rental history, borrower must have 0X30 lates in the past 24 months. ​If primary residence housing history reflects a forbearance arrangement, the payment history must reflect 0X30 lates in the most recent 24 months since exiting forbearance.
For borrowers with mortgage or rental history, borrower must have 0X30 lates in the past 24 months. ​If primary residence housing history reflects a forbearance arrangement, the payment history must reflect 0X30 lates in the most recent 24 months since exiting forbearance.
For borrowers with mortgage or rental history, borrower must have 0X30 lates in the past 24 months. ​If primary residence housing history reflects a forbearance arrangement, the payment history must reflect 0X30 lates in the most recent 24 months since exiting forbearance.
​​For borrowers with mortgage or rental history, borrower must have 0X30 lates in the past 24 months. ​If primary residence housing history reflects a forbearance arrangement, the payment history must reflect 0X30 lates in the most recent 24 months since exiting forbearance
For borrowers with mortgage or rental history, borrower must have 0X30 lates in the past 24 months. ​
For borrowers with mortgage or rental history, borrower must have 0X30 lates in the past 24 months. ​If primary residence housing history reflects a forbearance arrangement, the payment history must reflect 0X30 lates in the most recent 24 months since exiting forbearanc
Max No. Properties Owned
​N/A
​N/A
​N/A
​N/A
​N/A
4
N/A
Max No. Properties Financed
4
4
4
4
4
4
O/O: No Limit
2nd/INV: 7
First-Time
​Home Buyer
Yes with Restrictions**
Yes with Restrictions**
Yes with Restrictions**
Yes with Restrictions**
Yes with Restrictions**
​Yes with Restrictions**
​Yes with Restrictions**
Non-Occupant
​Co-Borrower
Yes
Yes
Yes
Yes
Yes
No
No
Reserves
Greater of AUS or Matrix
6 Mo for Additional Property
Greater of AUS or Matrix
6 Mo for Additional Property
Greater of AUS or Matrix
6 Mo for Additional Property
Greater of AUS or Matrix
6 Mo for Additional Property
Greater of AUS or Matrix
6 Mo for Additional Property
​12/18/24/36
2 Mo. for Additional Property
​<=80% LTV per findings.
​>80% LTV 6/12.
​(+2) for other properties owned.
Appraisals
  • FNMA 2075/FHLMC 2070 – Not Allowed in lieu of appraisal
  • Property Inspection Waiver (PIW) or Automated Collateral Evaluation (ACE) – Not Allowed
  • FNMA 2075/FHLMC 2070 – Not Allowed in lieu of appraisal
  • Property Inspection Waiver (PIW) or Automated Collateral Evaluation (ACE) – Not Allowed
  • FNMA 2075/FHLMC 2070 – Not Allowed in lieu of appraisal
  • Property Inspection Waiver (PIW) or Automated Collateral Evaluation (ACE) – Not Allowed
  • FNMA 2075/FHLMC 2070 – Not Allowed in lieu of appraisal
  • Property Inspection Waiver (PIW) or Automated Collateral Evaluation (ACE) – Not Allowed
  • FNMA 2075/FHLMC 2070 – Not Allowed in lieu of appraisal
  • Property Inspection Waiver (PIW) or Automated Collateral Evaluation (ACE) – Not Allowed
2 if loan amount is over $1.5 MM, for High Value Zip Codes 1.  OR 2 if loan amount is over $1.0 MM, for Non-High Value Zip Codes 2.  No appraisal transfers. LTV based on lower of 2 values. Any inconsistencies between appraisals must be reconciled
​Purch: 2 if over $2M
Refi: 2 if Over $1.5M
Appraisal Review
Required Clear Capital Review Unless 2.5 or Less CU Score
Required Clear Capital Review Unless 2.5 or Less CU Score
Required Clear Capital Review Unless 2.5 or Less CU Score
Required Clear Capital Review Unless 2.5 or Less CU Score
Required Clear Capital Review Unless 2.5 or Less CU Score
​Required Clear Capital Review
​Required Clear Capital Review
​Notes
.
.
.
.
.
.
 
Guidelines
Sapphire Guidelines
Jade
​Guidelines
Ruby AUS
​Guidelines
Opal AUS
​Guidelines
Topaz AUS
​Guidelines
Jumbo A Series​
Select NonConforming
* Allowed - The original purchase transaction must be documented by the closing disclosure.
** See program matrix for details.
​For mortgage professionals’ use ONLY. Not for consumer distribution. Overlays subject to change without notice and may not address product specifics. Items not covered will default to appropriate agency guidelines subject to Credit Risk Review and/or approval.
  • Home
  • TODAY'S RATE SHEETS
  • Products
    • Conventional
    • Jumbo Programs
    • Bank Statement
    • Investor DSCR
    • Asset Qualifier
    • FHA / VA
    • Address TBD
  • Resources
    • Forms & Docs
    • Appraisal Services
    • Announcements
    • Guidelines
    • Rates >
      • AGENCY/JUMBO ARCHIVES
      • NON-QM ARCHIVES
    • Turn Times
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    • Blog
  • Get Approved
  • About
    • COVID 19
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