The Access Non-QM Alt Income program matrix has been updated to clarify several points of eligibility, as detailed below. The changes are effective for loans registered on or after February 12, 2024. Our systems are updated accordingly.

Primary Residence – Cash-Out Refinance Clarifications

·         $2,000,000 loan amount allowed for 2-4 unit up to 75% LTV/CLTV with minimum 740 FICO

·         $1,500,000 loan amount allowed for 2-4 unit up to 75% LTV/CLTV with minimum 700 FICO

·         $1,500,000 loan amount allowed for 1-unit up to 70% LTV/CLTV with minimum 660 FICO

The revised Arc Guideline Update Summary, which provides a side-by-side comparison of the guideline changes, and the updated program matrix will be published on the website soon (HERE). As a reminder, the Arc Underwriting Guide is available within the SPARC 2.0 portal HERE.