Guidelines

Spectrum DSCR Matrix — FundLoans

DSCR Program (Investment Properties Only)

Effective Date: 04/13/2026 | V1.0

Maximum LTVs — DSCR >= 1.00

Loan Amount FICO Purchase Rate/Term Cash Out
<=1MM 740+ 80 80 75
720 80 80 75
700 75 75 70
680 75 75 65
660 70 70 65
>1.0 MM - 1.5 MM 740+ 75 75 70
720 75 75 70
700 75 75 70
680 70 70 60
660 65 65 60
>1.5 MM - 2.0 MM 740+ 75 75 60
720 75 75 60
700 70 70 60
680 65 65 N/A
660 60 60 N/A
>2.0 MM - 3.0 MM 740+ 75 75 60
720 70 70 60
700 65 65 N/A
680 60 60 N/A
660 60 60 N/A
>3.0 MM - 4.0 MM 700+ 65 65 N/A
660-699 60 60 N/A
>4.0 MM - 6.0 MM 660+ 60% LTV max case-by-case N/A

Maximum LTVs — DSCR >= 0.75

Loan Amount FICO Purchase Rate/Term Cash Out
<=1MM 740+ 75 75 70
720 75 75 70
700 75 75 65
680 70 70 60
660 60 60 60
>1.0 MM - 1.5 MM 740+ 70 70 65
720 70 70 65
700 70 70 65
680 70 70 60
660 65 65 60
>1.5 MM - 2.0 MM 740+ 65 65 60
720 65 65 N/A
700 65 65 N/A

Maximum LTVs — No Ratio*

*7 years no Housing Credit Events & 1 x 30 x 12 months all loans on personally held real estate. FN not allowed.

Loan Amount FICO Purchase Rate/Term Cash Out
<=1MM 740+ 75 75 65
720 70 70 60
700 65 65 60
680 65 60 60
660 60 60 60
>1.0 MM - 1.5 MM 740+ 70 70 60
720 65 65 60
700 65 65 60
>1.5 MM - 2.0 MM 740+ 65 65 60
720 65 65 N/A
700 65 65 N/A

Maximum LTVs — FN >= 1.0 (Foreign National)

Loan Amount FICO Purchase Rate/Term Cash Out
<=1.5MM 680+ 65 65 60
No FICO 65 65 60

Program Restrictions

Parameter Value
Housing 1x30x12 (0x30x24 No Ratio)
BK (Chap 13 Discharge) 24 mo
BK (Other) 24 mo
Foreclosure 24 mo
Short Sale/DIL 24 mo
Min FICO 660
Max LTV: Purchase 80
Max LTV: R/T 80
Max LTV: Cash-Out 75
Max CLTV 80
Max Loan Amount $6,000,000
Min Loan Amount $200,000
Fixed Terms 30 Year Fixed & 30 or 40 Year Fixed I/O
5/6 Mo SOFR ARM 3.750% Margin/Floor - 2/1/5 Caps
7/6 Mo SOFR ARM 3.750% Margin/Floor - 5/1/5 Caps
Qualifying Rate Qualify on the Note Rate

Cash-Out Limits

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

Loan Amount Restrictions

  • Program Min: $200,000
  • Non-Warrantable Condo Max: $1,500,000

  • $2MM: 2nd appraisal required

  • $3MM: Additional overlays apply

Reserves

  • 6 mo PITIA/ITIA for subject property only
  • 1st Time Investor: 12 mo subject property only
  • Foreign National: 12 months subject +2 mo each addl property

Other LTV/CLTV Limits

Scenario Limit
Non-Warrantable Condo 75%
1st Time Investor -5% LTV
FN Purchase / Rate Term 65%
FN Cash Out 60%

Interest Only

  • IO Period: 120 Months
  • Loan Term: 480 or 360 mo
  • 5/6 & 7/6 Mo SOFR ARM IO + 30 & 40 Yr FRM IO
  • Max LTV/CLTV: 75%
  • DSCR ≥ .75 Only

Condotels LTV

FICO C/O & R/T
75 65
  • Max LTV 65% / Minimum FICO 700+
  • Min DSCR 1.0
  • Max Cash in hand $250,000
  • Max Loan Amt $1.5MM

Income — Debt Service Coverage Ratio (DSCR)

  • Gross Income/PITIA (or ITIA for I/O products)
  • Transaction qualified on cash flow of the subject property
  • Gross Income: Existing Long Term Lease, 12 mos Short Term (AirBnB) History, or 1007
  • Gross rents * .80
  • Refinance: 12 mo history
  • Purchase: STR 1007

STR Income (>1.00 DSCR + Loan Amount <$2MM)

  • Gross rents * .80
  • Refinance: 12 mo history
  • Purchase: STR 1007

Investor Experience

Experienced Investor

  • 12 months ownership of income-producing real estate experience in last 36 months

First Time Investor

  • Borrowers not meeting Investor Experience are eligible if:
    • ≥ 700 FICO / >1.0 DSCR / <$2m Loan Amount / 5% LTV reduction / No gift funds / 12 mo reserves

Living Rent Free

  • Max LTV 65% / Minimum FICO 700+

Residency

  • US Citizen
  • Permanent & Non-Permanent Res Alien
  • FN See guidelines for Visa/Credit requirement

Interested Party Contributions

  • See Guidelines

Max Acreage

  • Max 20 financed properties <20 Acres to $3mm; <10 acres >$3MM

Rural Properties

  • <5 acres allowed / Max LTV 75% / .75+ DSCR

Financed Properties

  • Max 20 financed properties
  • FundLoans exposure to a single borrower at UW discretion

Prepayment Penalty

  • 3 yr standard PPP - 1 & 2 available at additional cost
  • Minimum of 1 yr PPP required (5% fixed penalty)

Compliance

  • Loans considered high-cost by Federal or State law not allowed
  • Points and Fees may not exceed 5% See Guidelines