Guidelines

Montage Matrix — FundLoans

Full Documentation Program (12 or 24 Months Full Doc)

Effective Date: 04/22/2026 | V1.1

Montage — Owner Occupied Primary Residence

Maximum LTVs (12 or 24 Months Full Doc)

Loan Amount FICO Purch / RT Refi LTV/CLTV* Cash Out LTV/CLTV*
up to $1 MM 740 90 80
720 85 80
700 85 80
680 80 80
660 80 75
>$1 MM to $1.5 MM 740 85 80
720 85 80
700 85 80
680 80 75
660 80 75
>$1.5 MM to $2 MM 740 85 80
720 85 80
700 85 75
680 80 70
660 80 70
>$2 MM to $2.5 MM 740 85 80
720 80 80
700 80 75
680 80 75
660 75 70
>$2.5 MM to $3 MM 740 80 75
720 80 75
700 75 70
680 70 65
660 70 N/A
>$3 MM to $3.5 MM 740 75 70
720 70 65
700 65 65

Super Jumbo — Owner Occupied Primary Residence

Loan Amount FICO Purch LTV/CLTV RT Refi LTV/CLTV Cash Out LTV/CLTV
>$3.5MM to $4MM 760 75 70 65
720 70 65 60
700 65 60 55
660 65 60 55
>$4MM to $5MM 760 65 60 55
720 60 55 55
>$5MM to $6MM 760 60 55 50

All loan >$4mm on a case-by-case basis only*

Eligible Borrowers

  • US Citizens
  • Permanent Resident Aliens
  • Non-Permanent Resident Aliens

Assets Only / Asset Allowance

  • Max LTV 80%
  • Max 50% DTI
  • See Guidelines for Formulas

DTI

  • Up to 50% Max DTI

Reserves

Loan Amount Months Required*
≤$500k 3 months
>$500k-$1.5MM 6 months
>$1.5MM 9 months
  • Additional 2 months to above requirement for each addl property financed (12 mo. max)
  • Non-Occupant Borrower addl 6 months to above
  • *PITIA for fully amortized and ITIA for I/O

Cash-Out Limits

LTV Threshold Maximum Cash Out
≤60% LTV Unlimited
>60% LTV $1.5MM

Credit Restrictions (Based off max LTV)

Event Lookback Period LTV Adjustment
Housing Lates 1 x 30 x 12 -5% LTV
FC/BK/SS/DIL/MOD 24mo-48mo -5% LTV

Program Restrictions

Parameter Value
Housing (12 mos. Minimum) 0x30x12
Credit Event 48 mo.
Min FICO 660
Max LTV: Purchase & R/T 90
Max LTV: Cash Out 80
Max CLTV 90
Max Loan Amount $6,000,000
Min Loan Amount $300,000
Fixed Terms 30yr Fix/ 40 yr Fix (w/ 10 yr IO)
5/6 Mo SOFR ARM (2/1/5 Caps) 6mo. SOFR 3.75% Margin/Floor
7/6 Mo SOFR ARM (5/1/5 Caps) 6mo. SOFR 3.75% Margin/Floor

Other LTV/CLTV Limits

Property Type/Restriction Details
TX 50(a)(6) 5% LTV cut/ not allowed >$3M
>$1.5MM f for each addl property
Non-Occupant Borrower a

See Guidelines For:

  • Departing Residence req. and res
  • Impounds, High-Cost Loans, & Lo
  • Single Borrower Exposure
  • Residency Qualifications
  • Interested Party Contributions
  • Rural Property Limits
  • First Time Homebuyer
  • Departing Residence
  • Use of Business Funds

Montage — Second Home

Maximum LTVs (12 or 24 Months Full Doc)

Loan Amount FICO Purch / RT Refi LTV/CLTV* Cash Out LTV/CLTV*
up to $1 MM 700 85 80
680 80 75
660 80 70
>$1 MM to $1.5 MM 740 85 75
720 85 75
700 85 75
680 80 75
660 80 70
>$1.5 MM to $2 MM 740 85 80
720 85 80
700 80 75
680 80 70
660 75 65
>$2 MM to $2.5 MM 720 75 75
700 75 70
680 75 70
660 65 60
>$2.5 MM to $3 MM 720 75 70
700 70 65
680 70 60
660 65 N/A

Super Jumbo — Second Home

Loan Amount FICO Purch LTV/CLTV RT Refi LTV/CLTV Cash Out LTV/CLTV
>$3MM to $4MM 760 65 60 55
720 60 55 50
700 55 50 45
>$4MM to $5MM 760 65 60 50
720 60 55 50
>$5MM to $6MM 760 55 50 45

All loan >$4mm on a case-by-case basis only*

Eligible Borrowers

  • US Citizens
  • Permanent Resident Aliens
  • Non-Permanent Resident Aliens

Assets Only / Asset Allowance

  • Max LTV 80%
  • Max 50% DTI
  • See Guidelines for Formulas

Reserves

Loan Amount Months Required*
≤$500k 3 months
>$500k-$1.5MM 6 months
>$1.5MM 9 months
  • Additional 2 months to above requirement for each addl property financed (12 mo. max)
  • *PITIA for fully amortized and ITIA for I/O

Cash-Out Limits

LTV Threshold Maximum Cash Out
≤60% LTV Unlimited
>60% LTV $1.5MM

Credit Restrictions (Based off max LTV)

Event Lookback Period LTV Adjustment
Housing Lates 1 x 30 x 12 -5% LTV
FC/BK/SS/DIL/MOD 24mo-48mo -5% LTV

Program Restrictions

Parameter Value
Housing (12 mos. Minimum) 0x30x12
Credit Event 48 mo.
Min FICO 660
Max LTV: Purchase & R/T 85
Max LTV: Cash Out 80
Max CLTV 90
Max Loan Amount $6,000,000
Min Loan Amount $300,000
Fixed Terms 30yr Fix/ 40 yr Fix (w/ 10 yr IO)
5/6 Mo SOFR ARM (2/1/5 Caps) 6mo. SOFR 3.75% Margin/Floor
7/6 Mo SOFR ARM (5/1/5 Caps) 6mo. SOFR 3.75% Margin/Floor

Other LTV/CLTV Limits — Second Home

Property Type Max LTV/CLTV
Warrantable Condo 85%
Non-Warrantable Condo 80%
Condotel - Purchase / RT Refi 75%
Condotel - Cash Out 65%
I/O max 85%
2-4 unit max 85%
Rural <10 acres Must be prior appvd

See Guidelines For:

  • Departing Residence req. and reserves
  • Impounds, High-Cost Loans, & Loan Cost Tolerance
  • Single Borrower Exposure
  • Residency Qualifications
  • Interested Party Contributions
  • Rural Property Limits
  • First Time Homebuyer
  • Departing Residence
  • Use of Business Funds

Montage — Investment

Maximum LTVs (12 or 24 Months Full Doc)

Loan Amount FICO Purch / RT Refi LTV/CLTV* Cash Out LTV/CLTV*
up to $1MM 740 85 80
720 85 80
700 85 75
680 80 75
660 80 75
>$1 MM to $1.5 MM 740 85 75
720 85 75
700 85 75
680 85 75
660 75 70
>$1.5 MM to $2 MM 740 85 80
720 80 80
700 80 75
680 75 70
660 70 65
>$2 MM to $2.5 MM 720 80 75
700 75 75
680 75 70
660 70 N/A
>$2.5 MM to $3 MM 720 80 70
700 75 70
680 70 65

Super Jumbo — Investment

Loan Amount FICO Purch LTV/CLTV RT Refi LTV/CLTV Cash Out LTV/CLTV
>$3MM to $4MM 760 60 55 50
720 55 50 45
700 50 45 40
>$4MM to $5MM 760 65 60 50
720 60 55 50
760 55 50 45
>$5MM to $6MM 760 55 50 45

All loan >$4mm on a case-by-case basis only*

Eligible Borrowers

  • US Citizens
  • Permanent Resident Aliens
  • Non-Permanent Resident Aliens

Assets Only / Asset Allowance

  • Max LTV 80%
  • Max 50% DTI
  • See Guidelines for Formulas

DTI

  • Up to 50% Max DTI

Reserves

Loan Amount Months Required*
≤$500k 3 months
>$500k-$1.5MM 6 months
>$1.5MM 9 months
First Time Investor 12 months
  • Additional 2 months to above requirement for each addl property financed (12 mo. max)
  • *PITIA for fully amortized and ITIA for I/O

Cash-Out Limits

LTV Threshold Maximum Cash Out
≤60% LTV Unlimited
>60% LTV $1.5MM

Credit Restrictions (Based off max LTV)

Event Lookback Period LTV Adjustment
Housing Lates 1 x 30 x 12 -5% LTV
FC/BK/SS/DIL/MOD 24mo-48mo -5% LTV

Program Restrictions

Parameter Value
Housing (12 mos. Minimum) 0x30x12
Credit Event 48 mo.
Min FICO 660
Max LTV: Purchase & R/T 85
Max LTV: Cash Out 75
Max CLTV 85
Max Loan Amount $6,000,000
Min Loan Amount $300,000
Fixed Terms 30yr Fix/ 40 yr Fix (w/ 10 yr IO)
5/6 Mo SOFR ARM (2/1/5 Caps) 6mo. SOFR - 3.75% Margin/Floor
7/6 Mo SOFR ARM (5/1/5 Caps) 6mo. SOFR - 3.75% Margin/Floor

Other LTV/CLTV Limits — Investment

Property Type Max LTV/CLTV
Warrantable Condo 85%
Non-Warrantable Condo 80%
Condotel - Purchase / RT Refi 75%
Condotel - Cash Out 65%
I/O max 80%
2-4 unit max 75%
Rural <10 acres *Must be prior appvd

Prepayment Penalty

  • 3 year standard prepay, 2 year and 1 year prepay available at additional cost
  • Minimum of 1 year prepay required on investment properties
  • 6 months of interest on 80% of the original principal balance

See Guidelines For:

  • Departing Residence req. and reserves
  • Impounds, High-Cost Loans, & Loan Cost Tolerance
  • Single Borrower Exposure
  • Residency Qualifications
  • Interested Party Contributions
  • Rural Property Limits
  • First Time Homebuyer
  • Departing Residence
  • Use of Business Funds