SmartEDGE (Full‑Doc) & Asset‑Qualifier — Non‑QM Solutions for Mortgage Brokers
As a West Coast–focused wholesale partner (CA, AZ, NV, OR, WA), we help mortgage brokers keep otherwise solid files moving when conventional or prime jumbo won’t fit. SmartEDGE (Full‑Doc) provides flexibility around credit events, property types (including certain non‑warrantable condos), and practical reserve/IPC frameworks. SmartEDGE Asset‑Qualifier allows high‑net‑worth clients to qualify using verified liquid assets and residual income rather than traditional employment/income.
For Mortgage Professionals / Brokers Only — Not for consumer use.
Guidelines last updated per product summary: (v25.6). Always confirm current online guidelines before quoting.
SmartEDGE Eligibility Matrices (Full‑Doc)
The tables below summarize SmartEDGE eligibility by occupancy and transaction type. Values reflect the published product summary. Always check the current online guide.
Primary Residence — Purchase
| Units | Max Loan Amount | Min Credit Score | Max LTV/CLTV |
|---|---|---|---|
| 1–4 | $1,500,000 | 720 | 90% |
Primary Residence — Rate & Term Refinance
| Max Loan Amount | Min Credit Score | Max LTV |
|---|---|---|
| $3,500,000 | 740 | 70% |
| $3,000,000 | 740 | 75% |
| $2,000,000 | 700 | 80% |
| $1,500,000 | 700 | 85% |
| $1,000,000 | 640 | 80% |
Primary Residence — Cash‑Out Refinance
| Max Loan Amount | Min Credit Score | Max LTV |
|---|---|---|
| $2,000,000 | 720 | 80% |
| $1,500,000 | 700 | 80% |
| $1,000,000 | 680 | 75% |
| $1,000,000 | 640 | 70% |
Primary Residence notes
- One‑Year Self‑Employment (Primary): Max 75% LTV/CLTV; Min FICO 700; Max loan $2,000,000; Purchase and Rate & Term permitted; must own >50% of business; additional documentation applies.
- Condotels (Cash‑Out): Max LTV/CLTV is the lesser of 75% or the LTV/CLTV based on loan amount and FICO.
- Cooperatives: Max LTV/CLTV 70%.
Second Home — Purchase / Rate & Term Refinance
| Units | Max Loan Amount | Min Credit Score | Max LTV |
|---|---|---|---|
| 1–2 | $2,500,000 | 740 | 75% |
| 1–2 | $2,000,000 | 740 | 80% |
| 1–2 | $1,500,000 | 720 | 80% |
| 1–2 | $1,000,000 | 680 | 75% |
| 1–2 | $1,000,000 | 640 | 70% |
Second Home — Cash‑Out Refinance
| Units | Max Loan Amount | Min Credit Score | Max LTV |
|---|---|---|---|
| 1 | $1,500,000 | 740 | 80% |
| 1 | $1,000,000 | 720 | 80% |
| 1 | $1,000,000 | 700 | 75% |
| 1 | $1,000,000 | 660 | 70% |
Second Home notes
- Not permitted: First‑time homebuyers; non‑permanent residents (for Second Homes).
- One‑Year Self‑Employment (Second Home): Max 70% LTV/CLTV; Min FICO 700; Max loan $2,000,000; Purchase and Rate & Term permitted.
- Condotels and Cooperatives follow occupancy‑specific LTV/CLTV caps.
Investment Property — Purchase / Rate & Term Refinance
| Units | Max Loan Amount | Min Credit Score | Max LTV |
|---|---|---|---|
| 1–4 | $2,500,000 | 740 | 65% |
| 1–4 | $2,000,000 | 740 | 70% |
| 1–4 | $1,500,000 | 720 | 80% |
| 1–4 | $1,000,000 | 720 | 85% |
| 1–4 | $1,000,000 | 640 | 75% |
Investment Property — Cash‑Out Refinance
| Max Loan Amount | Min Credit Score | Max LTV |
|---|---|---|
| $1,500,000 | 720 | 65% |
| $1,000,000 | 720 | 75% |
| $1,000,000 | 700 | 70% |
| $1,000,000 | 660 | 65% |
Investment notes
- Not permitted: First‑time homebuyers; non‑permanent residents (Investment).
- Condotels on Cash‑Out: maximum LTV/CLTV is the lesser of 75% or the LTV/CLTV based on loan amount and FICO.
SmartEDGE Asset‑Qualifier — Eligibility Matrix
Asset‑Qualifier determines Ability‑to‑Repay using eligible, seasoned liquid assets plus residual income; employment/income not disclosed. Investment occupancy is not eligible for Asset‑Qualifier.
| Occupancy | Units | Transaction | Max Loan Amount | Min Credit Score | Max LTV |
|---|---|---|---|---|---|
| Primary Residence | 1–4 | Purchase / Rate & Term | $2,000,000 | 700 | 80% |
| Second Home | 1 | Purchase / Rate & Term | $2,000,000 | 720 | 80% |
| Notes: Not permitted for Second Homes — first‑time homebuyers and non‑permanent residents. Cooperatives: Max LTV/CLTV 70%. Asset‑Qualifier not eligible for cash‑out or investment occupancy. |
Key Matrices: Maximum Cash‑Out, Interested Party Contributions & Reserves
Maximum Cash‑Out (All Smart Series)
| LTV Tier | Max Cash‑Out |
|---|---|
| ≤ 50% | $1,000,000 |
| > 50% and ≤ 60% | $750,000 |
| > 60% | $500,000 |
| Based on Final CD cash‑out; cumulative across simultaneous Smart Series cash‑out loans within 6 months. Asset‑Qualifier: cash‑out not permitted. |
Interested Party Contributions (IPC)
| Occupancy | LTV/CLTV | Max IPC |
|---|---|---|
| Primary Residence / Second Home | ≤ 75% | 9% |
| Primary Residence / Second Home | 75.01%–90% | 6% |
| Investment Property | All LTV/CLTV | 3% |
Reserves (Subject PITIA)
| Loan Amount | Reserves |
|---|---|
| ≤ $1,000,000 | 3 months |
| > $1,000,000 & ≤ $2,000,000 | 6 months |
| > $2,000,000 & ≤ $3,500,000 | 9 months |
| Certain primary/second home Rate & Term loans may have reserve waivers if all criteria are met. Asset‑Qualifier uses “Total Liquid Assets” and residual income rather than traditional reserve months. |
Residual Income Matrix
Residual income is required when DTI > 43% on Full‑Doc and is always calculated for Asset‑Qualifier. Minimum monthly residuals are set by household size.
| Family Size | 1 | 2 | 3 | 4 | 5 |
|---|---|---|---|---|---|
| Required Residual | $2,000 | $2,500 | $3,000 | $3,300 | $3,500 |
| Add $150 for each additional family member above five (up to a family of seven). |
Why Brokers Choose SmartEDGE for Non‑QM Full‑Doc & Asset‑Based Approvals
When agency AUS findings fall short due to credit event seasoning, DTI pressure, or property‑type constraints, SmartEDGE gives West Coast brokers a competitive non‑QM path with manual underwriting, broad property eligibility, structured cash‑out tiers, and clear IPC/reserve rules. For high‑net‑worth borrowers who prefer not to use traditional income, Asset‑Qualifier leverages eligible, seasoned liquid assets plus residual income to determine Ability‑to‑Repay. Together, SmartEDGE Full‑Doc and Asset‑Qualifier help brokers close more loans without sacrificing file quality or speed.
- Full‑Doc Flexibility: useful when conventional or jumbo guidelines don’t fit the credit or property profile.
- Asset‑Based Qualification: ideal for HNW clients; employment/income not disclosed; asset and residual income tests apply.
- Broker‑First Process: manual underwriting and defined matrices streamline structuring and expectations.
- West Coast Coverage: CA, AZ, NV, OR, WA with responsive scenario support.
All guidelines are subject to change. Confirm eligibility, caps, and documentation before quoting.
Broker FAQ — SmartEDGE (Full‑Doc & Asset‑Qualifier)
What is the maximum SmartEDGE loan amount on a primary Rate & Term?
Up to $3,500,000, subject to credit score and LTV tiers in the primary residence matrix.
Is Cash‑Out available and how is the limit determined?
Yes. Cash‑out limits follow LTV tiers ($1,000,000 at ≤50% LTV; $750,000 at >50%–≤60%; $500,000 at >60%) and are cumulative across simultaneous Smart Series cash‑out loans within six months of note date. Asset‑Qualifier is not eligible for cash‑out.
Can I qualify a borrower with one year of self‑employment?
Yes, with caps (e.g., Primary max 75% LTV/CLTV; Second Home max 70% LTV/CLTV) and specific documentation (ownership >50%, full returns, and prior employment alignment).
Do Asset‑Qualifier loans require reserves?
Asset‑Qualifier relies on documented “Total Liquid Assets” and residual income rather than traditional PITIA reserves.
Submit a Scenario
Need help structuring a SmartEDGE Full‑Doc or Asset‑Qualifier file? Send your scenario and we’ll respond quickly with options, caps, and documentation tips.