Griffin Funding: non-QM programs reviewed
Griffin Funding is a direct-to-consumer non-bank lender that leans into non-QM, and it's unusually transparent: minimum score, down payment, loan range, DTI and reserve requirements for its bank statement program are all published on the product page rather than hidden behind a quote form.
The published shape: 12–24 months of statements, a 620 minimum score, 10% minimum down, and loan amounts from $100,000 to $4.5 million in-house — with exceptions considered up to $20 million. Standard seasoning is two years of self-employment, but Griffin publishes a one-year exception for borrowers with two-plus prior years in the same line of work.
Program details
Channel: Direct to consumer · NMLS #1120111 (verify on NMLS Consumer Access)
| Factor | Published guideline | Source |
|---|---|---|
| Statements accepted | 12 to 24 months | source |
| Minimum credit score | 620+ | source |
| Down payment / cash-out LTV | 10% minimum down; cash-out refinance to 80% LTV | source |
| Loan amounts | $100,000 – $4.5M in-house; exceptions to $20M | source |
| Self-employment seasoning | 2+ years typical; 1-year exception with 2+ prior years in the same line of work | source |
| DTI / reserves | DTI to 50% (55% by exception); 3+ months PITI reserves, more on larger loans | 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 Griffin Funding confirms offering: DSCR (including a no-ratio option) · ITIN / foreign national (state-specific programs).
Strengths
- Publishes real underwriting numbers — score floor, DTI, reserves, seasoning exception — where many competitors publish nothing, which makes honest comparison possible.
- The one-year seasoning exception (with prior same-field experience) is a documented path for recently independent contractors and consultants.
- No-ratio DSCR option lets investors skip the cash-flow calculation entirely — rare to see stated openly.
Considerations
- A Griffin blog post advertises a "2-month bank statement" option that its own product page doesn't corroborate — treat the 12–24 month product page as the reliable guideline and get any shorter option in writing.
- Licensed in 47 states + DC, not all 50 — check your state before investing time in a quote.
- Direct-only means no broker is shopping the file for you — pair any Griffin quote with at least one broker-channel non-QM quote.
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
Griffin publishes a 620 minimum for its bank statement program, with pricing improving at higher scores. That's at the accessible end of published non-QM floors, though below-660 scenarios should expect a meaningful rate premium.
Possibly — Griffin's published exception allows one year of self-employment if you have at least two prior years of experience in the same line of work. Standard files still need two-plus years.
It's an investment-property program where Griffin doesn't calculate a debt-service-coverage ratio at all — qualification rests on the property, credit and down payment instead of rental cash flow. It's built for investors whose properties wouldn't clear a 1.0+ DSCR test.
Sources
- Griffin Funding — Bank Statement Loans (program page)
- Griffin Funding — DSCR Loans
- Griffin Funding — State licensing
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 Griffin Funding. Program details change; confirm directly with the lender.