Arc Home Wholesale ALERT – Expanded Eligibility for Arc Access Non-QM DSCR and Updated Tax Transcript Policy

Arc Home is excited to announce eligibility expansions for the Arc Access Non-QM DSCR program, effective for loans registered on or after March 10, 2023. Our systems are being updated accordingly.

The Arc Access DSCR program matrix has been updated with the eligibility enhancements highlighted below. For complete details, review the matrix HERE or contact your Arc Home Account Executive. Note: There are no changes to the other Arc Access Non-QM programs at this time.

New Eligibility Options

·         Purchase eligibility enhanced to allow up to 80% LTV

§   680 minimum credit score

§   Up to $1.0mm loan amount*

§   1-unit property

§   DSCR >/= 1.00

·         Purchase and Rate/Term refinance transactions allowed with 640 credit score

§   Loan amount to $1.0mm

§   1-unit up to 70% LTV and 2-4 unit up to 65% LTV

§   DSCR >/= 1.25

·         Cash-Out refinance transactions allowed with 680 credit score

§   Loan amount to $1.0mm

§   Up to 65% LTV for 1-4 unit properties

§   DSCR >/= 1.00

*Minimum Loan Amount: Increased to $200,000 for > 75% LTV; unchanged at $100,000 for </= 75% LTV.

Expanded Eligibility

·         Purchase and Rate/Term Refinance:

§   LTV increased to 70% at 740 credit score to $2.5mm loan amount (previously 60%)

§   LTV increased to 75% at 720 credit score to $2.0mm loan amount (previously 70%)

§   LTV increased to 70% at 700 credit score to $2.0mm loan amount (previously 65%)

·         Cash-Out Refinance:

§   LTV increased to 70% at 740 credit score to $2.0mm loan amount (previously 65%)

The Arc Home Tax Transcript Requirements Policy has been updated for the new tax year based on filing deadlines. Additionally, the policy was enhanced to include information regarding alternate documentation in the event of IRS transcript processing delays. The revised Arc Home Tax Transcript Requirements Policy will be available on our website soon.