Deephaven Mortgage: non-QM programs reviewed
Deephaven Mortgage is a wholesale and correspondent non-QM lender that publishes more granular program detail than almost anyone in the space — actual score floors, LTV caps and loan ceilings per sub-product, where competitors publish a phone number.
Its bank statement lending runs in two published tiers: Expanded-Prime (660 minimum score, up to 90% LTV, loans to $3.5M, DTI to 55%) and Non-Prime (620, 80% LTV, to $2M, DTI to 50%). Twelve-month statements are standard, and the Non-Prime tier also accepts a one-year CPA-prepared P&L with just two months of statements — a meaningfully lighter documentation path. Like A&D, Deephaven is broker-channel only: you reach it through an independent mortgage broker.
Program details
Channel: Wholesale only (via a broker) · NMLS #958425 (verify on NMLS Consumer Access)
| Factor | Published guideline | Source |
|---|---|---|
| Statements accepted | 12 months standard; 12 & 24-month options listed | source |
| Expanded-Prime tier | 660 min score · 90% max LTV · loans to $3.5M · DTI to 55% | source |
| Non-Prime tier | 620 min score · 80% max LTV · loans to $2M · DTI to 50% | source |
| Light-doc alternative | 1-year P&L plus 2 months of bank statements accepted (Non-Prime) | source |
| DSCR | 640 min score · 80% max LTV · to $2.5M · no borrower income; DSCR Second and 5–9 unit variants published | source |
| ITIN program | 680 min score · 80% LTV · to $1.5M · 12-month statements or 1-year P&L + 2 months | source |
Published guidelines as of 2026-07-24 — not a quote, pre-approval, or offer of credit. Actual terms depend on full underwriting.
Other non-QM programs Deephaven Mortgage confirms offering: Asset utilization · Foreign national · Jumbo-Prime (to $3M full-doc) · Super Jumbo ($3.5M–$5M) · Business bank-statement HELOC ($50K–$1M).
Strengths
- Transparency: per-tier floors and ceilings are published, so a broker's quote can be checked against the lender's own numbers.
- The P&L-plus-two-months option is one of the lightest documented income paths in bank statement lending.
- Unusual product depth — DSCR second liens, 5–9 unit DSCR, and a business-purpose bank-statement HELOC cover scenarios most non-QM menus skip.
Considerations
- Wholesale/correspondent only — no direct application; broker choice matters.
- Self-employment seasoning beyond the P&L option isn't published as a standalone figure.
- State availability isn't published on the program pages — confirm licensing for your state through your broker.
Who it fits
Not sure a bank-statement program is right at all? Start with the bank statement loan guide, estimate your qualifying income with the bank statement estimator, or read how to compare non-QM lenders.
FAQ
Expanded-Prime is the stronger-file tier: 660 minimum score, up to 90% LTV and $3.5M, DTI to 55%. Non-Prime drops the floor to 620 but caps LTV at 80% and loans at $2M. Same documentation menu — the tier mostly prices credit strength.
Its published Non-Prime option accepts a one-year CPA-prepared profit-and-loss statement plus only two months of bank statements — much lighter than the standard 12–24 months, though the CPA involvement is the gate.
No — Deephaven works through wholesale brokers and correspondent partners only. Borrowers reach its programs by asking an independent mortgage broker to price a scenario with them.
Sources
- Deephaven — Wholesale program grid
- Deephaven — Wholesale ITIN mortgage
- Deephaven — Business bank statement HELOC
Educational information only — not financial advice, and not a quote, pre-approval, or offer of credit. Mortgage Merlin is a publisher, not a lender or broker, and is not affiliated with Deephaven Mortgage. Program details change; confirm directly with the lender.