Agent Quick Reference
Every program at a glance — hand this to your buyer
Ryan Van Til
Pacific Trust Mortgage
NMLS #2336853
(805) 801-1380
| Program | Min Down | Credit | Best For | Key Notes |
|---|---|---|---|---|
| Conventional | 3–5% | 620+ | Most buyers with good credit | PMI drops at 80% LTV. 3% for first-time, 5% repeat. |
| FHA | 3.5% | 580+ | First-time buyers, lower credit | MIP for life if <10% down. Max DTI 43–56.9%. |
| VA | 0% | 580–620 | Active duty, veterans, eligible spouses | No PMI. Funding fee 2.15% (waived for disabled vets). |
| Jumbo | 10–20% | 700+ | Homes above $832,750 | 6–12 mo reserves. Full doc. Up to $3M+. |
| HELOC | N/A | 680+ | Homeowners tapping equity | Up to 90% CLTV. Interest-only draw period. |
| Refinance | None | 620+ | Lowering rate, cash-out, removing PMI | 5% equity (rate/term), 20% (cash-out). 6mo seasoning. |
| Program | Min Down | Credit | Best For | Key Notes |
|---|---|---|---|---|
| DSCR | 20–25% | 660+ | Investors — qualify on rental income | No personal income docs. LLC OK. No property limit. |
| Bank Statement | 10–20% | 660+ | Self-employed w/ heavy write-offs | 12 or 24mo statements. 2+ yrs self-employed. |
| Asset Depletion | 20–25% | 680+ | Retirees, high-net-worth, no income | Liquid assets divided over loan term = income. |
| Assets in Full | 20–25% | 700+ | Cash buyers who prefer to finance | 100% of purchase price in assets. No income docs. |
Start with Conventional (3% down) or FHA (3.5%). FHA is more forgiving on credit. Both allow gift funds for down payment.
If tax returns don't show enough income, Bank Statement loans use deposits instead. Need 2+ years in business and 660+ credit.
DSCR loans qualify on rental income, not personal income. Close in LLC. No limit on properties. 21–30 day close.
Ryan Van Til
Mortgage Advisor · Pacific Trust Mortgage
NMLS #2336853
(805) 801-1380
ryan@pactm.com
ryanptm.com