Deephaven Mortgage

Deephaven Mortgage LLC is a non-QM mortgage lender that originates through independent mortgage brokers and buys loans from correspondent partners. It was founded in 2012 to lend to borrowers who cannot qualify for a traditional, government-backed loan, and it describes its underwriting as common sense applied to income and credit rather than a narrow set of criteria.

The DSCR cash flow loan qualifies on the subject property's rental cash flow with no employment or income documentation, with loan amounts up to $2.5 million, LTV up to 80%, and credit scores down to 660. Expanded-Prime is for borrowers who just miss agency guidelines: loan amounts up to $3.5 million, LTV up to 90% with no mortgage insurance, DTI up to 55%, full doc, one-year profit and loss, or self-employed bank statement options, plus 30-year and 40-year interest-only choices and rural acreage up to 10 acres. Equity Advantage is a stand-alone second lien up to $750,000 with a 660 minimum score and maximum CLTV of 90% on a primary residence, 85% on a second home, and 80% on an investment property. A bank statement program and a non-prime program for borrowers recovering from recent credit events round out the line, and the firm also writes first lien HELOCs and DSCR second mortgages.

Brokers work with an assigned account executive and use tools published on the site, including a wholesale pricing engine, a blended rate calculator, a bank statement analysis tool, and a correspondent portal. Separate phone lines run for correspondent, wholesale, scenario desk, and general enquiries.

Deephaven is headquartered in Charlotte, North Carolina, operates under NMLS #958425, and is owned by Pretium, an investment manager focused on real estate, mortgage finance, and corporate debt. It reports a network of more than 1,000 independent mortgage brokers and more than 200 correspondent partners. Its material is aimed at licensed mortgage professionals, programs are not available in all states, and the site states it is not authorized by the New York State Department of Financial Services and cannot handle loan applications for New York properties.