Program

Full Doc Loans with Non-QM Flexibility

Traditional Income

The classic file, underwritten with common sense. W-2s, paystubs, and tax returns qualify the borrower the traditional way, and where agency guidelines stop at the checklist, Sky TPO keeps reading the file.

W-2 + PaystubsTax Returns1 or 2 YearsITIN OK

At a glance

Loan amounts
To $5M
Max LTV
90%
Min FICO
From 600
Occupancy
Primary · 2nd · Investment
Full-doc files that miss agency on DTI, recent credit events, or loan size may have another path here — without changing how the borrower documents income.

What Is a Full Doc Loan?

A full documentation (full doc) loan qualifies the borrower with traditional income paperwork — W-2s, paystubs, and tax returns. Sky TPO's full doc programs apply Non-QM flexibility on debt-to-income ratio, loan size, and credit-event seasoning where agency guidelines stop.

Who Are Full Doc Loans For?

W-2 employees whose DTI runs past agency limits
Borrowers with eligible past credit events that fall outside agency seasoning requirements
Loan amounts above conforming limits in high-cost markets
Salaried borrowers buying a second home or investment property
ITIN borrowers with traditional W-2 income
“Nothing about your paperwork changes. You still show W-2s and returns — we just read them with judgment instead of a checklist.”
How to pitch it to your borrower

How Does a Full Doc Loan Work?

What the file needs — and how we get to a number.

01Income

Wage earners generally provide current paystubs and W-2s; self-employed borrowers provide tax returns and supporting business documentation. Required history varies by program.

02Assets

Assets are documented for funds to close and any required reserves, with documentation requirements varying by program.

03Credit

Credit and housing history are reviewed against the applicable matrix, including required seasoning for prior credit events.

04Property

Appraisal requirements vary by program and loan amount; larger loans may require additional appraisal review.

Full Doc Loan Requirements

Current income documentation such as paystubs, W-2s and tax returns, depending on income source and program
One or two years of income history may be required, depending on the program
FICO from 600, depending on program; loan amounts up to $5M through Starry
Credit, DTI and appraisal requirements follow the applicable Full Doc matrix
Assets documented for funds to close and applicable reserves

Requirements follow the current Sky TPO matrices and guidelines; see the matrix for each suite below.

Sky TPO Full Doc Loan Programs

Each suite sets the occupancy, loan amounts, and matrix — pick the one that fits the property.

Sunny

Primary & Second Homes · Full/Alt-DocFull documentation — primary & second homes.
Full Documentation — W-2, Tax Returns & RetirementMatrixGuidelines

Breezy

Investment · DSCR & Full/Alt DocFull documentation for investment properties.
Full Documentation — W2, Tax Returns & RetirementMatrixGuidelines

Sky Plus

Closed-End SecondsAn extra boost of equity: standalone seconds, first-lien rate untouched.
Full & Alternative Documentation — Closed-End SecondsMatrixGuidelines
Full Documentation Select — Closed-End SecondsMatrixGuidelines

Passport

Foreign NationalForeign national full documentation.
Full & Alternative Documentation — Foreign NationalMatrixGuidelines

Starry

Super JumboSuper jumbo full doc on primary homes — to $5M.
Full & Alternative Documentation — Super JumboMatrixGuidelines

Real-World Full Doc Scenarios

Scenario 01

High-DTI professional

A physician with $300K W-2 income has student loans pushing DTI to 52%. With sufficient residual income, Sky TPO's expanded Full Doc guidelines may provide a path beyond agency limits.
Scenario 02

Jumbo in a high-cost market

A $2.1M purchase in Los Angeles with 20% down, full W-2 documentation, and reserves from a brokerage account.
Scenario 03

Two years past a short sale

Two years past a short sale. Clean credit since, strong income and 25% down on a primary residence.

Frequently Asked Questions About Full Doc Loans

What is a full doc loan?

A full doc loan qualifies the borrower with traditional income documentation — W-2s, paystubs, and tax returns — with Non-QM flexibility on DTI, loan size, and credit seasoning.

What loan amounts are available?

Up to $3M through the Sunny and Breezy suites, and up to $5M through Starry Super Jumbo, subject to the current matrix.

Can ITIN borrowers use full doc?

Yes. Eligible ITIN borrowers may qualify using traditional income documentation through the Sunny ITIN program.

How is this different from a conventional loan?

Same documentation, more flexibility: higher DTI, larger loan amounts, shorter seasoning after housing events, and underwriters who look at the whole file.

Can I combine W-2 income with other income types?

Additional documented income sources may be considered subject to the applicable program guidelines.

Is there a prepayment penalty?

Not on owner-occupied loans. Investment-property loans may carry one depending on pricing; ask your account executive.

Have a Full Doc scenario?

Price it in Sky Port in minutes or send it to the Scenario Desk.