Private lender credit standards
Nations Direct Mortgage
dscr
DSCR values stated in these documents: 1.00
Private standard, not a regulation. These are private, per-lender commercial standards, not regulation. They differ by lender by design and are revised without notice, often at the same web address. A program shown here is what the cited document said on the date given; it is not confirmation the lender still offers it.
Source documents
| Document | Document date | Verified unchanged |
|---|---|---|
| myndm.com-Ignite-Express-DSCR.pdf | 2026-06-15 inferred | — |
| myndm.com-NonQM-Express-DSCR-Matrix.pdf | 2026-08-17 inferred | — |
“Inferred” means the document printed a date but did not label it as an effective or revision date. It is the latest plausible date on the page, not a stated one.
Criteria tables
Non-Warrantable Condo
myndm.com-Ignite-Express-DSCR.pdf · 2026-06-15
| Gift Funds | Must contribute 10% of own funds toward down payment. Cannot be used for reserves. | ||||
| Investor Experience | At least one applicant must have a 12-month history of managing/owning rental properties in the most recent three year period. No First Time Homebuyers allowed. | ||||
| Investor Experience Professional Investors | Professional Investors Borrowers who are considered Professional Investors must meet the following requirements: 1) Must meet the Investor Experience guideline. 2) Must own at least five properties. 3) Must have a minimum of 5 years credit depth reporting on credit report. 4) A minimum of 3 mortgages reporting on credit report within the last 3 years. No minimum month’s reporting required. No delinquencies allowed on the months reported. If the borrower meets the above requirements the following reduced documentation is allowed: 1) Mortgage histories on non-subject properties that are not on credit do not need to be provided. 2) At least 5 properties owned by the borrower must be listed on REO Schedule (all that are reporting on credit must be reflected). 3) All the information for these properties must be completed on the REO schedule (Mortgage balances, mortgage payments, taxes, insurance, gross rents, etc.) | ||||
| Major Derogatory Credit | Foreclosures, Deed in Lieu, Short Sale, Loan Modification Due to Default, etc. / Bankruptcy Chapter 7/11/13 - BK Seasoning from Discharged/Dismissed Date. 36 months OR 24 months with a 5% reduction from maximum qualifying LTV. No multiple credit events in 7 years. | ||||
| Mortgage History | 1x30x12; OR Unlimited 30 days 0X60X12 allowed with a 5% reduction from maximum qualifying LTV. | ||||
| No Licensing Required | AL, CO, CT, DC, DE, FL, GA, HI, IL, IN, KY, LA, MA, MD, ME, MI, NH, NJ, NM, NY, OH, OK, PA, RI, SC, TN, TX, VA, WA, WI, WV, & WY. | ||||
| Non-Warrantable Condo and Condotels | Full Condo Review Required. Only one non-warrantable feature is permitted. | ||||
| Allowable reasons are the following: | |||||
| • Commercial Space - must be typical for the market, have no negative impact and be < 50% of the project space | |||||
| • HOA reserves- Annual budget specifies a minimum of 5% allocation of replacement reserves | |||||
| • Delinquent HOA Dues- no more than 20% of the total units in the project may be 60+ days past due | |||||
| • Investor Concentration- up to 60%; Single Owner/Entity- up to 50% | |||||
| • New Projects- The project or the subject’s legal phase along with other phases must be complete. All common areas in the project | |||||
| must be 100% complete. Minimum of 50% of units must be sold or under contract |
| • Maximum Loan Amount: $2,000,000 | |||||
| • Kitchen required with full size appliances: refrigerator, stove, oven, etc. | |||||
| • Bedroom required- no studios | |||||
| • Minimum 500 square feet | |||||
| • Investor concentration OK to 100% | |||||
| • Ineligible Condotels: | |||||
| o Properties with hotel/motel in the name or conversions from a hotel/motel | |||||
| o Projects with less than 10 units | |||||
| o Properties that are not located in a resort destination/area (beach, mountains-ski and recreational, lake) | |||||
| Occupancy | Investment Property | ||||
| Prepayment Penalty | 5% fixed percentage of entire outstanding principal balance. | ||||
| Permitted in the following states with no restrictions: AL, AR, AZ, CA, CO, CT, DE, FL, GA, HI, ID, IN, KY, LA, MA, ME, MO, MT, NH, NV, OK, OR, SC, TN, TX, UT, VA, WA, WI, WV, & WY. 1-to-5-year prepayment terms available. States with restrictions: PA Loan Amount >$329,411 applies only to 1-2 units. | |||||
| Property Types | SFR, PUD, Warrantable Condo, Non- Warrantable Condo including Condotels, 2-4 Units | ||||
| Seasoning Requirements | Cash Out Seasoning: Can used appraised value after 6 months ownership. Less than 6 months ownership 5% reduction from maximum qualifying LTV and use the lesser of purchase price plus documented improvements or appraised value. Rate and Term: Borrower must be on title prior to application date. Properties owned less than 12 months that meet Rate and Term guidelines can use current appraised value. Properties listed for sale in the past 6 months: Must have proof of listing cancellation prior to application. If loan purpose is cash out must have a minimum 1-year prepayment penalty. |
Max LTV/CLTV/Loan Amount
myndm.com-NonQM-Express-DSCR-Matrix.pdf · 2026-08-17
| NON QM EXPRESS DSCR | Effective Date: 8.17.2026 | |||||
| Full Doc Only | ||||||
| Program Max LTVs/CLTVs | DSCR > 1.00 | |||||
| Loan Amount | FICO | Purchase | Rate and Term | Cash Out | ||
| $100,000* to $1,000,000 | 720 | 80% | 80% | 75% | ||
| 700 | 80% | 75% | 75% | |||
| 680 | 75% | 75% | 70% | |||
| 660 | 75% | 75% | 70% | |||
| $1,000,001 - $1,500,000 | 720 | 80% | 75% | 75% | ||
| 700 | 80% | 75% | 75% | |||
| 680 | 75% | 70% | 70% | |||
| 660 | 75% | 70% | 70% | |||
| $1,500,001 - $2,000,000 | 720 | 75% | 70% | 70% | ||
| 700 | 75% | 70% | 70% |
| Other Requirements Occupancy | Investment Property | |
|---|---|---|
| Property Types | SFR, PUD, Townhome, Warrantable Condo, Non-Warrantable Condo, 2-4 Unit | |
| Citizenship | US Citizen, Permanent Resident Alien and Non-Permanent Resident Alien Non-Permanent Resident capped at 75% LTV maximum | |
| First Time Investor | Min 680 credit score, and can document ownership and a 0x30 mortgage history for a primary residence for a minimum of 12 months within the last three years. | |
| Investor Experience | At least one applicant must have a 12 month history of managing/owning rental properties in the most recent three year period. No First Time Homebuyers allowed. | |
| DSCR Calculation | Refinances must use the lower of the Lease Agreement or 1007. Purchases use the 1007. | |
| Lease > Market Rents and Short Term Rentals | Leases Exceeding Market Rents: Refinances Only- Lease may be used to calculate the DSCR if the lease will continue for a minimum of 6 mos after the note date with documentation supporting the most recent 2 mos, on time, rental payments received by the borrower. | |
| Short Term Rentals: Purchases- Use market rents as developed by the Short Term Rental Analysis on the Appraisal apply a 20% expense factor if not applied by the appraiser. Refinances: 12 month average using the most recent 12 month rental history print out from the short term rental site using a 20% expense factor/12. | ||
| Declining Markets | If the appraisal reflects that the subject property is located in a declining market reduce the LTV by 5%. | |
| Credit | Qualifying credit score: Lower mid-score of all borrowers/guarantors. | |
| Trade line requirements: 3 trade lines reporting for a minimum of 12-mos OR 2 trade lines reporting for a minimum of 24-mos. One trade line must have been active within the last 12 months. | ||
| Gift Funds | Must contribute 10% of own funds toward down payment. Cannot be used for reserves | |
| Seller Concessions | Up to 6% towards closing costs | |
| Non-Warrantable Condos | Full Condo Review Required. Only one non-warrantable feature is permitted. Allowable reasons are the following: Commercial Space- must be typical for the market, have no negative impact and be < 50% of the project space; Delinquent HOA Dues- no more than 20% of the total units in the project may be 60+ days past due; Investor Concentration- up to 60%; Single Owner/Entity- up to 25%; Litigation- is permitted as long as the lawsuit does not involve structural issues, health and safety issues, or does not impact the marketability of the project. | |
| Prepayment Penalty | 5% fixed percentage of entire outstanding principal balance. |
Minimum Loan Amount
myndm.com-Ignite-Express-DSCR.pdf · 2026-06-15
| Requirements Program Requirements | Property Overlays | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Minimum Loan Amount | $100,000 | Rural or Rural Characteristics: If property is deemed Rural must be residential use only with a maximum | |||||||||||
| Max Loan Amount | $4,000,000 | of 5 acres. Maximum LTV: Purchase/Rate and Term 80%; Cash Out 75%. Minimum DSCR 1.00. | |||||||||||
| Unlimited Cash Out no LTV restrictions with DSCR 1.00 and above. Maximum LTV DSCR .75 to .99 = 70% | 2- 4 Units, Warrantable and Non-Warrantable Condos- Purchase/Rate & Term Maximum LTV 80%; Cash | ||||||||||||
| Out Maximum LTV 75%. Condotels- Purchase/Rate & Term Maximum 75%; Cash Out Maximum 70% | |||||||||||||
| Products | Vacant Property on Refinances: Reduce LTV by 5% from maximum qualifying. Use market rents from 1007. 2-4 units can only have one vacant unit. | ||||||||||||
| 30 Year Fixed | Reserve Requirements | ||||||||||||
| 30 & 40 YR Fixed IO. Interest Only: Calculate DSCR using ITIA payment. Max LTV 80% | $100,000 to $1,000,000 | 6 months | |||||||||||
| $1,000,001 to $2,000,000 | 9 months | ||||||||||||
| $2,000,001 to $4,000,000 | 12 months | ||||||||||||
| IO Period | 10 years | Reserve Requirement reduced by 3 months with 5% reduction from max qualifying LTV | |||||||||||
| Amortization Term | 20/30 years | Cash out can be used toward reserves | |||||||||||
| Final Maturity | 30/40 years | ||||||||||||
| Other Requirements | |||||||||||||
| Approved States | Listed on our website: Approved States – Nations Direct Mortgage |
Max Loan Amount
myndm.com-Ignite-Express-DSCR.pdf · 2026-06-15
| Requirements Program Requirements | Property Overlays | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Minimum Loan Amount | $100,000 | Rural or Rural Characteristics: If property is deemed Rural must be residential use only with a maximum | |||||||||||
| Max Loan Amount | $4,000,000 | of 5 acres. Maximum LTV: Purchase/Rate and Term 80%; Cash Out 75%. Minimum DSCR 1.00. | |||||||||||
| Unlimited Cash Out no LTV restrictions with DSCR 1.00 and above. Maximum LTV DSCR .75 to .99 = 70% | 2- 4 Units, Warrantable and Non-Warrantable Condos- Purchase/Rate & Term Maximum LTV 80%; Cash | ||||||||||||
| Out Maximum LTV 75%. Condotels- Purchase/Rate & Term Maximum 75%; Cash Out Maximum 70% | |||||||||||||
| Products | Vacant Property on Refinances: Reduce LTV by 5% from maximum qualifying. Use market rents from 1007. 2-4 units can only have one vacant unit. | ||||||||||||
| 30 Year Fixed | Reserve Requirements | ||||||||||||
| 30 & 40 YR Fixed IO. Interest Only: Calculate DSCR using ITIA payment. Max LTV 80% | $100,000 to $1,000,000 | 6 months | |||||||||||
| $1,000,001 to $2,000,000 | 9 months | ||||||||||||
| $2,000,001 to $4,000,000 | 12 months | ||||||||||||
| IO Period | 10 years | Reserve Requirement reduced by 3 months with 5% reduction from max qualifying LTV | |||||||||||
| Amortization Term | 20/30 years | Cash out can be used toward reserves | |||||||||||
| Final Maturity | 30/40 years | ||||||||||||
| Other Requirements | |||||||||||||
| Approved States | Listed on our website: Approved States – Nations Direct Mortgage |
Reserve Requirements
myndm.com-Ignite-Express-DSCR.pdf · 2026-06-15
| Requirements Program Requirements | Property Overlays | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Minimum Loan Amount | $100,000 | Rural or Rural Characteristics: If property is deemed Rural must be residential use only with a maximum | |||||||||||
| Max Loan Amount | $4,000,000 | of 5 acres. Maximum LTV: Purchase/Rate and Term 80%; Cash Out 75%. Minimum DSCR 1.00. | |||||||||||
| Unlimited Cash Out no LTV restrictions with DSCR 1.00 and above. Maximum LTV DSCR .75 to .99 = 70% | 2- 4 Units, Warrantable and Non-Warrantable Condos- Purchase/Rate & Term Maximum LTV 80%; Cash | ||||||||||||
| Out Maximum LTV 75%. Condotels- Purchase/Rate & Term Maximum 75%; Cash Out Maximum 70% | |||||||||||||
| Products | Vacant Property on Refinances: Reduce LTV by 5% from maximum qualifying. Use market rents from 1007. 2-4 units can only have one vacant unit. | ||||||||||||
| 30 Year Fixed | Reserve Requirements | ||||||||||||
| 30 & 40 YR Fixed IO. Interest Only: Calculate DSCR using ITIA payment. Max LTV 80% | $100,000 to $1,000,000 | 6 months | |||||||||||
| $1,000,001 to $2,000,000 | 9 months | ||||||||||||
| $2,000,001 to $4,000,000 | 12 months | ||||||||||||
| IO Period | 10 years | Reserve Requirement reduced by 3 months with 5% reduction from max qualifying LTV | |||||||||||
| Amortization Term | 20/30 years | Cash out can be used toward reserves | |||||||||||
| Final Maturity | 30/40 years | ||||||||||||
| Other Requirements | |||||||||||||
| Approved States | Listed on our website: Approved States – Nations Direct Mortgage |
Requirements
myndm.com-Ignite-Express-DSCR.pdf · 2026-06-15
| Requirements Program Requirements | Property Overlays | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Minimum Loan Amount | $100,000 | Rural or Rural Characteristics: If property is deemed Rural must be residential use only with a maximum | |||||||||||
| Max Loan Amount | $4,000,000 | of 5 acres. Maximum LTV: Purchase/Rate and Term 80%; Cash Out 75%. Minimum DSCR 1.00. | |||||||||||
| Unlimited Cash Out no LTV restrictions with DSCR 1.00 and above. Maximum LTV DSCR .75 to .99 = 70% | 2- 4 Units, Warrantable and Non-Warrantable Condos- Purchase/Rate & Term Maximum LTV 80%; Cash | ||||||||||||
| Out Maximum LTV 75%. Condotels- Purchase/Rate & Term Maximum 75%; Cash Out Maximum 70% | |||||||||||||
| Products | Vacant Property on Refinances: Reduce LTV by 5% from maximum qualifying. Use market rents from 1007. 2-4 units can only have one vacant unit. | ||||||||||||
| 30 Year Fixed | Reserve Requirements | ||||||||||||
| 30 & 40 YR Fixed IO. Interest Only: Calculate DSCR using ITIA payment. Max LTV 80% | $100,000 to $1,000,000 | 6 months | |||||||||||
| $1,000,001 to $2,000,000 | 9 months | ||||||||||||
| $2,000,001 to $4,000,000 | 12 months | ||||||||||||
| IO Period | 10 years | Reserve Requirement reduced by 3 months with 5% reduction from max qualifying LTV | |||||||||||
| Amortization Term | 20/30 years | Cash out can be used toward reserves | |||||||||||
| Final Maturity | 30/40 years | ||||||||||||
| Other Requirements | |||||||||||||
| Approved States | Listed on our website: Approved States – Nations Direct Mortgage |
DSCR Calculation
myndm.com-Ignite-Express-DSCR.pdf · 2026-06-15
| Requirements Program Requirements | Property Overlays | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Minimum Loan Amount | $100,000 | Rural or Rural Characteristics: If property is deemed Rural must be residential use only with a maximum | |||||||||||
| Max Loan Amount | $4,000,000 | of 5 acres. Maximum LTV: Purchase/Rate and Term 80%; Cash Out 75%. Minimum DSCR 1.00. | |||||||||||
| Unlimited Cash Out no LTV restrictions with DSCR 1.00 and above. Maximum LTV DSCR .75 to .99 = 70% | 2- 4 Units, Warrantable and Non-Warrantable Condos- Purchase/Rate & Term Maximum LTV 80%; Cash | ||||||||||||
| Out Maximum LTV 75%. Condotels- Purchase/Rate & Term Maximum 75%; Cash Out Maximum 70% | |||||||||||||
| Products | Vacant Property on Refinances: Reduce LTV by 5% from maximum qualifying. Use market rents from 1007. 2-4 units can only have one vacant unit. | ||||||||||||
| 30 Year Fixed | Reserve Requirements | ||||||||||||
| 30 & 40 YR Fixed IO. Interest Only: Calculate DSCR using ITIA payment. Max LTV 80% | $100,000 to $1,000,000 | 6 months | |||||||||||
| $1,000,001 to $2,000,000 | 9 months | ||||||||||||
| $2,000,001 to $4,000,000 | 12 months | ||||||||||||
| IO Period | 10 years | Reserve Requirement reduced by 3 months with 5% reduction from max qualifying LTV | |||||||||||
| Amortization Term | 20/30 years | Cash out can be used toward reserves | |||||||||||
| Final Maturity | 30/40 years | ||||||||||||
| Other Requirements | |||||||||||||
| Approved States | Listed on our website: Approved States – Nations Direct Mortgage |
First Time Investor
myndm.com-Ignite-Express-DSCR.pdf · 2026-06-15
| Requirements Program Requirements | Property Overlays | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Minimum Loan Amount | $100,000 | Rural or Rural Characteristics: If property is deemed Rural must be residential use only with a maximum | |||||||||||
| Max Loan Amount | $4,000,000 | of 5 acres. Maximum LTV: Purchase/Rate and Term 80%; Cash Out 75%. Minimum DSCR 1.00. | |||||||||||
| Unlimited Cash Out no LTV restrictions with DSCR 1.00 and above. Maximum LTV DSCR .75 to .99 = 70% | 2- 4 Units, Warrantable and Non-Warrantable Condos- Purchase/Rate & Term Maximum LTV 80%; Cash | ||||||||||||
| Out Maximum LTV 75%. Condotels- Purchase/Rate & Term Maximum 75%; Cash Out Maximum 70% | |||||||||||||
| Products | Vacant Property on Refinances: Reduce LTV by 5% from maximum qualifying. Use market rents from 1007. 2-4 units can only have one vacant unit. | ||||||||||||
| 30 Year Fixed | Reserve Requirements | ||||||||||||
| 30 & 40 YR Fixed IO. Interest Only: Calculate DSCR using ITIA payment. Max LTV 80% | $100,000 to $1,000,000 | 6 months | |||||||||||
| $1,000,001 to $2,000,000 | 9 months | ||||||||||||
| $2,000,001 to $4,000,000 | 12 months | ||||||||||||
| IO Period | 10 years | Reserve Requirement reduced by 3 months with 5% reduction from max qualifying LTV | |||||||||||
| Amortization Term | 20/30 years | Cash out can be used toward reserves | |||||||||||
| Final Maturity | 30/40 years | ||||||||||||
| Other Requirements | |||||||||||||
| Approved States | Listed on our website: Approved States – Nations Direct Mortgage |
Professional Investors
myndm.com-Ignite-Express-DSCR.pdf · 2026-06-15
| Gift Funds | Must contribute 10% of own funds toward down payment. Cannot be used for reserves. | ||||
| Investor Experience | At least one applicant must have a 12-month history of managing/owning rental properties in the most recent three year period. No First Time Homebuyers allowed. | ||||
| Investor Experience Professional Investors | Professional Investors Borrowers who are considered Professional Investors must meet the following requirements: 1) Must meet the Investor Experience guideline. 2) Must own at least five properties. 3) Must have a minimum of 5 years credit depth reporting on credit report. 4) A minimum of 3 mortgages reporting on credit report within the last 3 years. No minimum month’s reporting required. No delinquencies allowed on the months reported. If the borrower meets the above requirements the following reduced documentation is allowed: 1) Mortgage histories on non-subject properties that are not on credit do not need to be provided. 2) At least 5 properties owned by the borrower must be listed on REO Schedule (all that are reporting on credit must be reflected). 3) All the information for these properties must be completed on the REO schedule (Mortgage balances, mortgage payments, taxes, insurance, gross rents, etc.) | ||||
| Major Derogatory Credit | Foreclosures, Deed in Lieu, Short Sale, Loan Modification Due to Default, etc. / Bankruptcy Chapter 7/11/13 - BK Seasoning from Discharged/Dismissed Date. 36 months OR 24 months with a 5% reduction from maximum qualifying LTV. No multiple credit events in 7 years. | ||||
| Mortgage History | 1x30x12; OR Unlimited 30 days 0X60X12 allowed with a 5% reduction from maximum qualifying LTV. | ||||
| No Licensing Required | AL, CO, CT, DC, DE, FL, GA, HI, IL, IN, KY, LA, MA, MD, ME, MI, NH, NJ, NM, NY, OH, OK, PA, RI, SC, TN, TX, VA, WA, WI, WV, & WY. | ||||
| Non-Warrantable Condo and Condotels | Full Condo Review Required. Only one non-warrantable feature is permitted. | ||||
| Allowable reasons are the following: | |||||
| • Commercial Space - must be typical for the market, have no negative impact and be < 50% of the project space | |||||
| • HOA reserves- Annual budget specifies a minimum of 5% allocation of replacement reserves | |||||
| • Delinquent HOA Dues- no more than 20% of the total units in the project may be 60+ days past due | |||||
| • Investor Concentration- up to 60%; Single Owner/Entity- up to 50% | |||||
| • New Projects- The project or the subject’s legal phase along with other phases must be complete. All common areas in the project | |||||
| must be 100% complete. Minimum of 50% of units must be sold or under contract |
Major Derogatory Credit
myndm.com-Ignite-Express-DSCR.pdf · 2026-06-15
| Gift Funds | Must contribute 10% of own funds toward down payment. Cannot be used for reserves. | ||||
| Investor Experience | At least one applicant must have a 12-month history of managing/owning rental properties in the most recent three year period. No First Time Homebuyers allowed. | ||||
| Investor Experience Professional Investors | Professional Investors Borrowers who are considered Professional Investors must meet the following requirements: 1) Must meet the Investor Experience guideline. 2) Must own at least five properties. 3) Must have a minimum of 5 years credit depth reporting on credit report. 4) A minimum of 3 mortgages reporting on credit report within the last 3 years. No minimum month’s reporting required. No delinquencies allowed on the months reported. If the borrower meets the above requirements the following reduced documentation is allowed: 1) Mortgage histories on non-subject properties that are not on credit do not need to be provided. 2) At least 5 properties owned by the borrower must be listed on REO Schedule (all that are reporting on credit must be reflected). 3) All the information for these properties must be completed on the REO schedule (Mortgage balances, mortgage payments, taxes, insurance, gross rents, etc.) | ||||
| Major Derogatory Credit | Foreclosures, Deed in Lieu, Short Sale, Loan Modification Due to Default, etc. / Bankruptcy Chapter 7/11/13 - BK Seasoning from Discharged/Dismissed Date. 36 months OR 24 months with a 5% reduction from maximum qualifying LTV. No multiple credit events in 7 years. | ||||
| Mortgage History | 1x30x12; OR Unlimited 30 days 0X60X12 allowed with a 5% reduction from maximum qualifying LTV. | ||||
| No Licensing Required | AL, CO, CT, DC, DE, FL, GA, HI, IL, IN, KY, LA, MA, MD, ME, MI, NH, NJ, NM, NY, OH, OK, PA, RI, SC, TN, TX, VA, WA, WI, WV, & WY. | ||||
| Non-Warrantable Condo and Condotels | Full Condo Review Required. Only one non-warrantable feature is permitted. | ||||
| Allowable reasons are the following: | |||||
| • Commercial Space - must be typical for the market, have no negative impact and be < 50% of the project space | |||||
| • HOA reserves- Annual budget specifies a minimum of 5% allocation of replacement reserves | |||||
| • Delinquent HOA Dues- no more than 20% of the total units in the project may be 60+ days past due | |||||
| • Investor Concentration- up to 60%; Single Owner/Entity- up to 50% | |||||
| • New Projects- The project or the subject’s legal phase along with other phases must be complete. All common areas in the project | |||||
| must be 100% complete. Minimum of 50% of units must be sold or under contract |
Ignite Express DSCR
myndm.com-Ignite-Express-DSCR.pdf · 2026-06-15
| • Maximum Loan Amount: $2,000,000 | |||||
| • Kitchen required with full size appliances: refrigerator, stove, oven, etc. | |||||
| • Bedroom required- no studios | |||||
| • Minimum 500 square feet | |||||
| • Investor concentration OK to 100% | |||||
| • Ineligible Condotels: | |||||
| o Properties with hotel/motel in the name or conversions from a hotel/motel | |||||
| o Projects with less than 10 units | |||||
| o Properties that are not located in a resort destination/area (beach, mountains-ski and recreational, lake) | |||||
| Occupancy | Investment Property | ||||
| Prepayment Penalty | 5% fixed percentage of entire outstanding principal balance. | ||||
| Permitted in the following states with no restrictions: AL, AR, AZ, CA, CO, CT, DE, FL, GA, HI, ID, IN, KY, LA, MA, ME, MO, MT, NH, NV, OK, OR, SC, TN, TX, UT, VA, WA, WI, WV, & WY. 1-to-5-year prepayment terms available. States with restrictions: PA Loan Amount >$329,411 applies only to 1-2 units. | |||||
| Property Types | SFR, PUD, Warrantable Condo, Non- Warrantable Condo including Condotels, 2-4 Units | ||||
| Seasoning Requirements | Cash Out Seasoning: Can used appraised value after 6 months ownership. Less than 6 months ownership 5% reduction from maximum qualifying LTV and use the lesser of purchase price plus documented improvements or appraised value. Rate and Term: Borrower must be on title prior to application date. Properties owned less than 12 months that meet Rate and Term guidelines can use current appraised value. Properties listed for sale in the past 6 months: Must have proof of listing cancellation prior to application. If loan purpose is cash out must have a minimum 1-year prepayment penalty. |
Prepayment Penalty
myndm.com-Ignite-Express-DSCR.pdf · 2026-06-15
| • Maximum Loan Amount: $2,000,000 | |||||
| • Kitchen required with full size appliances: refrigerator, stove, oven, etc. | |||||
| • Bedroom required- no studios | |||||
| • Minimum 500 square feet | |||||
| • Investor concentration OK to 100% | |||||
| • Ineligible Condotels: | |||||
| o Properties with hotel/motel in the name or conversions from a hotel/motel | |||||
| o Projects with less than 10 units | |||||
| o Properties that are not located in a resort destination/area (beach, mountains-ski and recreational, lake) | |||||
| Occupancy | Investment Property | ||||
| Prepayment Penalty | 5% fixed percentage of entire outstanding principal balance. | ||||
| Permitted in the following states with no restrictions: AL, AR, AZ, CA, CO, CT, DE, FL, GA, HI, ID, IN, KY, LA, MA, ME, MO, MT, NH, NV, OK, OR, SC, TN, TX, UT, VA, WA, WI, WV, & WY. 1-to-5-year prepayment terms available. States with restrictions: PA Loan Amount >$329,411 applies only to 1-2 units. | |||||
| Property Types | SFR, PUD, Warrantable Condo, Non- Warrantable Condo including Condotels, 2-4 Units | ||||
| Seasoning Requirements | Cash Out Seasoning: Can used appraised value after 6 months ownership. Less than 6 months ownership 5% reduction from maximum qualifying LTV and use the lesser of purchase price plus documented improvements or appraised value. Rate and Term: Borrower must be on title prior to application date. Properties owned less than 12 months that meet Rate and Term guidelines can use current appraised value. Properties listed for sale in the past 6 months: Must have proof of listing cancellation prior to application. If loan purpose is cash out must have a minimum 1-year prepayment penalty. |
Seasoning Requirements
myndm.com-Ignite-Express-DSCR.pdf · 2026-06-15
| • Maximum Loan Amount: $2,000,000 | |||||
| • Kitchen required with full size appliances: refrigerator, stove, oven, etc. | |||||
| • Bedroom required- no studios | |||||
| • Minimum 500 square feet | |||||
| • Investor concentration OK to 100% | |||||
| • Ineligible Condotels: | |||||
| o Properties with hotel/motel in the name or conversions from a hotel/motel | |||||
| o Projects with less than 10 units | |||||
| o Properties that are not located in a resort destination/area (beach, mountains-ski and recreational, lake) | |||||
| Occupancy | Investment Property | ||||
| Prepayment Penalty | 5% fixed percentage of entire outstanding principal balance. | ||||
| Permitted in the following states with no restrictions: AL, AR, AZ, CA, CO, CT, DE, FL, GA, HI, ID, IN, KY, LA, MA, ME, MO, MT, NH, NV, OK, OR, SC, TN, TX, UT, VA, WA, WI, WV, & WY. 1-to-5-year prepayment terms available. States with restrictions: PA Loan Amount >$329,411 applies only to 1-2 units. | |||||
| Property Types | SFR, PUD, Warrantable Condo, Non- Warrantable Condo including Condotels, 2-4 Units | ||||
| Seasoning Requirements | Cash Out Seasoning: Can used appraised value after 6 months ownership. Less than 6 months ownership 5% reduction from maximum qualifying LTV and use the lesser of purchase price plus documented improvements or appraised value. Rate and Term: Borrower must be on title prior to application date. Properties owned less than 12 months that meet Rate and Term guidelines can use current appraised value. Properties listed for sale in the past 6 months: Must have proof of listing cancellation prior to application. If loan purpose is cash out must have a minimum 1-year prepayment penalty. |
Short Term Rentals
myndm.com-Ignite-Express-DSCR.pdf · 2026-06-15
| • Maximum Loan Amount: $2,000,000 | |||||
| • Kitchen required with full size appliances: refrigerator, stove, oven, etc. | |||||
| • Bedroom required- no studios | |||||
| • Minimum 500 square feet | |||||
| • Investor concentration OK to 100% | |||||
| • Ineligible Condotels: | |||||
| o Properties with hotel/motel in the name or conversions from a hotel/motel | |||||
| o Projects with less than 10 units | |||||
| o Properties that are not located in a resort destination/area (beach, mountains-ski and recreational, lake) | |||||
| Occupancy | Investment Property | ||||
| Prepayment Penalty | 5% fixed percentage of entire outstanding principal balance. | ||||
| Permitted in the following states with no restrictions: AL, AR, AZ, CA, CO, CT, DE, FL, GA, HI, ID, IN, KY, LA, MA, ME, MO, MT, NH, NV, OK, OR, SC, TN, TX, UT, VA, WA, WI, WV, & WY. 1-to-5-year prepayment terms available. States with restrictions: PA Loan Amount >$329,411 applies only to 1-2 units. | |||||
| Property Types | SFR, PUD, Warrantable Condo, Non- Warrantable Condo including Condotels, 2-4 Units | ||||
| Seasoning Requirements | Cash Out Seasoning: Can used appraised value after 6 months ownership. Less than 6 months ownership 5% reduction from maximum qualifying LTV and use the lesser of purchase price plus documented improvements or appraised value. Rate and Term: Borrower must be on title prior to application date. Properties owned less than 12 months that meet Rate and Term guidelines can use current appraised value. Properties listed for sale in the past 6 months: Must have proof of listing cancellation prior to application. If loan purpose is cash out must have a minimum 1-year prepayment penalty. |
Not Available
myndm.com-NonQM-Express-DSCR-Matrix.pdf · 2026-08-17
| NON QM EXPRESS DSCR | Effective Date: 8.17.2026 | |||||
| Full Doc Only | ||||||
| Program Max LTVs/CLTVs | DSCR > 1.00 | |||||
| Loan Amount | FICO | Purchase | Rate and Term | Cash Out | ||
| $100,000* to $1,000,000 | 720 | 80% | 80% | 75% | ||
| 700 | 80% | 75% | 75% | |||
| 680 | 75% | 75% | 70% | |||
| 660 | 75% | 75% | 70% | |||
| $1,000,001 - $1,500,000 | 720 | 80% | 75% | 75% | ||
| 700 | 80% | 75% | 75% | |||
| 680 | 75% | 70% | 70% | |||
| 660 | 75% | 70% | 70% | |||
| $1,500,001 - $2,000,000 | 720 | 75% | 70% | 70% | ||
| 700 | 75% | 70% | 70% |
Not Available
myndm.com-NonQM-Express-DSCR-Matrix.pdf · 2026-08-17
| NON QM EXPRESS DSCR | Effective Date: 8.17.2026 | |||||
| Full Doc Only | ||||||
| Program Max LTVs/CLTVs | DSCR > 1.00 | |||||
| Loan Amount | FICO | Purchase | Rate and Term | Cash Out | ||
| $100,000* to $1,000,000 | 720 | 80% | 80% | 75% | ||
| 700 | 80% | 75% | 75% | |||
| 680 | 75% | 75% | 70% | |||
| 660 | 75% | 75% | 70% | |||
| $1,000,001 - $1,500,000 | 720 | 80% | 75% | 75% | ||
| 700 | 80% | 75% | 75% | |||
| 680 | 75% | 70% | 70% | |||
| 660 | 75% | 70% | 70% | |||
| $1,500,001 - $2,000,000 | 720 | 75% | 70% | 70% | ||
| 700 | 75% | 70% | 70% |
No Licensing Required
myndm.com-NonQM-Express-DSCR-Matrix.pdf · 2026-08-17
| Other Requirements Occupancy | Investment Property | |
|---|---|---|
| Property Types | SFR, PUD, Townhome, Warrantable Condo, Non-Warrantable Condo, 2-4 Unit | |
| Citizenship | US Citizen, Permanent Resident Alien and Non-Permanent Resident Alien Non-Permanent Resident capped at 75% LTV maximum | |
| First Time Investor | Min 680 credit score, and can document ownership and a 0x30 mortgage history for a primary residence for a minimum of 12 months within the last three years. | |
| Investor Experience | At least one applicant must have a 12 month history of managing/owning rental properties in the most recent three year period. No First Time Homebuyers allowed. | |
| DSCR Calculation | Refinances must use the lower of the Lease Agreement or 1007. Purchases use the 1007. | |
| Lease > Market Rents and Short Term Rentals | Leases Exceeding Market Rents: Refinances Only- Lease may be used to calculate the DSCR if the lease will continue for a minimum of 6 mos after the note date with documentation supporting the most recent 2 mos, on time, rental payments received by the borrower. | |
| Short Term Rentals: Purchases- Use market rents as developed by the Short Term Rental Analysis on the Appraisal apply a 20% expense factor if not applied by the appraiser. Refinances: 12 month average using the most recent 12 month rental history print out from the short term rental site using a 20% expense factor/12. | ||
| Declining Markets | If the appraisal reflects that the subject property is located in a declining market reduce the LTV by 5%. | |
| Credit | Qualifying credit score: Lower mid-score of all borrowers/guarantors. | |
| Trade line requirements: 3 trade lines reporting for a minimum of 12-mos OR 2 trade lines reporting for a minimum of 24-mos. One trade line must have been active within the last 12 months. | ||
| Gift Funds | Must contribute 10% of own funds toward down payment. Cannot be used for reserves | |
| Seller Concessions | Up to 6% towards closing costs | |
| Non-Warrantable Condos | Full Condo Review Required. Only one non-warrantable feature is permitted. Allowable reasons are the following: Commercial Space- must be typical for the market, have no negative impact and be < 50% of the project space; Delinquent HOA Dues- no more than 20% of the total units in the project may be 60+ days past due; Investor Concentration- up to 60%; Single Owner/Entity- up to 25%; Litigation- is permitted as long as the lawsuit does not involve structural issues, health and safety issues, or does not impact the marketability of the project. | |
| Prepayment Penalty | 5% fixed percentage of entire outstanding principal balance. |
Approved States
myndm.com-NonQM-Express-DSCR-Matrix.pdf · 2026-08-17
| Other Requirements Occupancy | Investment Property | |
|---|---|---|
| Property Types | SFR, PUD, Townhome, Warrantable Condo, Non-Warrantable Condo, 2-4 Unit | |
| Citizenship | US Citizen, Permanent Resident Alien and Non-Permanent Resident Alien Non-Permanent Resident capped at 75% LTV maximum | |
| First Time Investor | Min 680 credit score, and can document ownership and a 0x30 mortgage history for a primary residence for a minimum of 12 months within the last three years. | |
| Investor Experience | At least one applicant must have a 12 month history of managing/owning rental properties in the most recent three year period. No First Time Homebuyers allowed. | |
| DSCR Calculation | Refinances must use the lower of the Lease Agreement or 1007. Purchases use the 1007. | |
| Lease > Market Rents and Short Term Rentals | Leases Exceeding Market Rents: Refinances Only- Lease may be used to calculate the DSCR if the lease will continue for a minimum of 6 mos after the note date with documentation supporting the most recent 2 mos, on time, rental payments received by the borrower. | |
| Short Term Rentals: Purchases- Use market rents as developed by the Short Term Rental Analysis on the Appraisal apply a 20% expense factor if not applied by the appraiser. Refinances: 12 month average using the most recent 12 month rental history print out from the short term rental site using a 20% expense factor/12. | ||
| Declining Markets | If the appraisal reflects that the subject property is located in a declining market reduce the LTV by 5%. | |
| Credit | Qualifying credit score: Lower mid-score of all borrowers/guarantors. | |
| Trade line requirements: 3 trade lines reporting for a minimum of 12-mos OR 2 trade lines reporting for a minimum of 24-mos. One trade line must have been active within the last 12 months. | ||
| Gift Funds | Must contribute 10% of own funds toward down payment. Cannot be used for reserves | |
| Seller Concessions | Up to 6% towards closing costs | |
| Non-Warrantable Condos | Full Condo Review Required. Only one non-warrantable feature is permitted. Allowable reasons are the following: Commercial Space- must be typical for the market, have no negative impact and be < 50% of the project space; Delinquent HOA Dues- no more than 20% of the total units in the project may be 60+ days past due; Investor Concentration- up to 60%; Single Owner/Entity- up to 25%; Litigation- is permitted as long as the lawsuit does not involve structural issues, health and safety issues, or does not impact the marketability of the project. | |
| Prepayment Penalty | 5% fixed percentage of entire outstanding principal balance. |
Disclosure. CF Synergies provides AEO consulting to companies in the mortgage industry. Placement in anything published here is not for sale, and no lender receives preference in what is collected or shown.