Standard Jumbo (AUS)
Luxury non-conforming standard jumbo mortgages up to $3,000,000 with automated DU Approve/Ineligible findings, flexible reserve schedules, and competitive jumbo pricing.
Underwriting Specifications & Parameters
Program Highlights & Selling Points
- DU Approve/Ineligible Accepted
- Streamlined Reserve Requirements (6–12 Months)
- Loan Amounts from $1,000,000 to $3,000,000
- Primary and Second Homes Eligible
Program Overview & Guidelines
Luxury Standard Jumbo Financing with Automated Findings
The Corva Standard Jumbo (AUS) program delivers aggressive institutional capital up to $3,000,000 for luxury residential properties without the onerous manual overlays and multi-month delays common among traditional commercial banks. By leveraging automated Desktop Underwriter (DU) Approve/Ineligible findings, Corva accelerates jumbo underwriting to an unprecedented pace.
Underwriting Limits & Specifications
- Maximum LTV: Up to 80% LTV for purchases; 75% for cash-out refinances.
- Minimum FICO: 700 credit score requirement.
- Loan Amounts: $1,000,000 to $3,000,000.
- Eligible Properties: Luxury Single Family Residences, Warrantable Condominiums, Townhomes, Planned Unit Developments (PUDs), acreage parcels up to 10 acres.
DU Automated Underwriting Integration
Files must receive a Desktop Underwriter (DU) Approve/Ineligible recommendation, where the sole reason for ineligibility is that the loan balance exceeds FHFA conforming limits. Corva honors standard DU credit, asset, and employment documentation requirements with minimal portfolio overlays.
Post-Closing Reserve Matrix
- Loans ≤ $1,500,000: 6 months PITIA post-closing reserves.
- Loans $1,500,001 – $2,500,000: 9 months PITIA post-closing reserves.
- Loans > $2,500,000: 12 months PITIA post-closing reserves.
Vested retirement assets and publicly traded stocks are eligible toward reserve requirements at standard discounted valuation percentages.
Submit Standard Jumbo (AUS) Scenario
Direct credit desk review by dedicated wholesale underwriters. Submit transaction parameters below for immediate pricing, structuring, and written terms.