POST /api/pricer/quote

Evaluate a loan scenario against every applicable Non-QM and FlexPoint program and receive ranked eligible offers plus structured rejection reasons.

Endpoint

POST /api/pricer/quote
Content-Type: application/json
Authorization: Bearer <FLEXRATE_INTERNAL_TOKEN>

A single call evaluates the scenario against every program on the most recent rate sheet of every lender (Non-QM + FlexPoint today), returns priced offers ranked best-price-first across both lenders, and structured rejection reasons for every (lender, program, doc_type) tuple that didn't qualify. Every eligible offer and rejection is tagged with lender_slug so the consumer can group or filter by lender. Omit program_slug and doc_type to evaluate the full catalog.

Request Body

All fields are JSON. Required fields are marked with *. Defaults reflect what the API substitutes when a field is omitted — they are the production defaults, not placeholders.

Program filters

Field	Type	Values	Default	Description
`program_slug`	string	See `/api/pricer/programs`	`null`	Limit evaluation to one program. Omit to evaluate all.
`doc_type`	string	e.g. `full_doc`, `bank_statements`, `dscr`	`null`	Limit to one doc type within the selected program.
`doc_seasoning`	string	`12mo`, `24mo`	`null`	Doc seasoning for Full Doc / Jumbo. `null` preserves the legacy behavior of matching the 12-month row.

Loan product

Field	Type	Values	Default	Description
`term` *	integer	`10`, `15`, `20`, `25`, `30`, `40`	—	Amortisation term in years.
`purpose` *	string	`purchase`, `rate_term_refi`, `cash_out_refi`	—	Loan purpose.
`comp_type`	string	`lender_paid`, `borrower_paid`	`lender_paid`	Compensation type.
`margin_bps`	integer	`0`–`1000`	`0`	Compensation margin in basis points. Applied as a rate-side adjustment (does not move price).

Borrower

Field	Type	Values	Default	Description
`credit_score` *	integer	`500`–`850`	—	Representative credit score (middle of tri-merge).
`purchase_price` *	number	≥ `50000`	—	Purchase price or appraised value in whole dollars.
`loan_amount` *	number	≥ `50000`	—	Loan amount in whole dollars.
`dti`	number	`0`–`60`	`40.0`	Debt-to-income ratio as a percentage. Default `40.0` sits below every Non-QM DTI tier (lowest tier starts at `43.01%`) so scenarios that don't specify DTI take no tier adjustment.
`mtg_lates_12mo`	integer	`0`, `1`, `2`, `3`	`0`	Mortgage late payments in the last 12 months. `3` means "3 or more".
`housing_event`	string \| null	`bk_chapter_7`, `bk_chapter_13`, `foreclosure`, `short_sale`, `deed_in_lieu`	`null`	Most recent adverse housing event, if any.
`housing_event_months_ago`	integer \| null	≥ `0`	`null`	Months since the housing event was discharged or completed. Should be set if `housing_event` is set.
`citizenship`	string	`us_citizen`, `permanent_resident`, `non_permanent_resident`, `itin`, `foreign_national`	`us_citizen`	Borrower citizenship / documentation status.
`lien_position`	string	`1st`, `2nd`	`1st`	Lien position.

Property

Field	Type	Values	Default	Description
`occupancy`	string	`owner_occupied`, `second_home`, `non_owner_occupied`, `investment`	`owner_occupied`	Property occupancy type.
`property_type`	string	`sfr`, `2_unit`, `3_4_unit`, `5_8_unit`, `condo`, `warrantable_condo`, `non_warrantable_condo`, `condotel`, `townhome`, `mixed_use`, `manufactured`	`sfr`	Property type.
`state`	string	2-letter US state code	`CA`	Property state. Uppercased server-side.
`zip`	string	5-digit ZIP	`""`	Property ZIP code.

Pricing options

Field	Type	Values	Default	Description
`ppp_term`	string	`No PPP`, `1YR PPP`, `2YR PPP`, `3YR PPP`, `5YR PPP`	`No PPP`	Prepayment penalty period. Must match a term in the program's PPP table.
`ppp_table_name`	string \| null	e.g. `5% Fixed Fee`, `6 mo Interest`	`null`	PPP table selector when a program ships multiple tables (Full Doc / Expanded Doc / DSCR ship both). `null` uses the first table found.
`lock_days`	integer	`15`, `30`, `45`	`30`	Rate lock period in days.

DSCR (investment / rental properties)

Field	Type	Values	Default	Description
`dscr_ratio`	number \| null	`0`–`10`	`null`	Debt-service coverage ratio. Required for DSCR, Multi-Unit, and Foreign National programs. Pass `null` for income-qualified programs (Full Doc, Expanded Doc, ITIN).

The DSCR ratio determines which LTV tier applies and which DSCR-tier LLPA row fires. DSCR ≥ 1.00 unlocks higher LTV limits and better pricing than DSCR < 1.00. Passing the wrong value (or omitting it on a DSCR program) produces an inaccurate result.

Risk & adjustment toggles

These fields each map 1:1 to a row in the "Miscellaneous Adjustments" / "Other Adjustments" LLPA grids. Multiple toggles fire independently on the same scenario, so a borrower can incur, say, escrow_waiver + interest_only + housing_history=1x30x12 adjustments simultaneously.

Field	Type	Values	Default	Fires LLPA row
`escrow_waiver`	boolean	`true`, `false`	`false`	"Escrow waiver"
`interest_only`	boolean	`true`, `false`	`false`	"Interest Only" (note: `term=40` already covers "40 Year Maturity")
`housing_history`	string \| null	`1x30x12`, `0x60x12`, `0x90x12`	`null`	Matches verbatim by row label
`recent_credit_event`	boolean	`true`, `false`	`false`	`FC/SS/DIL/BK<48M`
`short_term_rental`	boolean	`true`, `false`	`false`	"Short-Term Rental" (DSCR programs)

If any toggle hits an NA cell in the LLPA grid, the offer is rejected with key: "llpa_na" rather than priced — NA is a hard eligibility cut-off, not a zero adjustment.

Response

{
  "rate_sheet_date": "2026-05-20",
  "eligible_count": 25,
  "rejected_count": 8,
  "eligible": [ /* OfferObject[] */ ],
  "rejected": [ /* RejectionObject[] */ ]
}

Field	Type	Description
`rate_sheet_date`	string \| null	`effective_at` date of the rate sheet that produced this quote (`YYYY-MM-DD`).
`eligible_count`	integer	Number of eligible offers across all programs.
`rejected_count`	integer	Number of `(program, doc_type)` pairs that didn't produce any eligible offers.
`eligible[]`	array	Priced offers, sorted descending by `final_price` — the first offer is the most favourably priced for the borrower.
`rejected[]`	array	One entry per `(program, doc_type)` that produced no offers, with structured rejection reasons.

`eligible[]` — Offer object

Each entry is one note rate on one program's ladder (or one rate-block row for FlexPoint) that passed every eligibility check.

{
  "lender_slug": "non-qm",
  "program_slug": "dscr",
  "program_name": "DSCR",
  "doc_type": "dscr",
  "rate": 9.125,
  "final_rate": 9.125,
  "base_price": 100.500,
  "price_adjustment": -1.250,
  "final_price": 99.250,
  "max_ltv": "85.00",
  "max_cltv": "85.00",
  "adjusters": [
    { "category": "FICO/CLTV",                 "row_label": "740 - 759",      "band": "70.01 - 75%", "value": -0.25, "source": "llpa" },
    { "category": "Purpose",                   "row_label": "Cash-Out Refi",  "band": null,          "value": -1.00, "source": "llpa" },
    { "category": "Miscellaneous Adjustments", "row_label": "Escrow waiver",  "band": null,          "value":  0.00, "source": "llpa" }
  ],
  "caps_applied": [],
  "term": 30,
  "lock_days": 30,
  "ppp_term": "No PPP"
}

Field	Type	Description
`lender_slug`	string \| null	Lender that owns the program: `"non-qm"` or `"flexpoint"`.
`program_slug`	string	Program identifier.
`program_name`	string	Human-readable program name.
`doc_type`	string	Doc type within the program. FlexPoint agency programs default to `"full_doc"` because no doc-type registry is shipped on the sheet.
`rate`	number	Note rate from the ladder (e.g. `9.125`).
`final_rate`	number	`rate` plus any rate-side adjustments (currently `margin_bps`).
`base_price`	number	Base price for `rate` from `rate_ladder_entries`.
`price_adjustment`	number	Net of every LLPA cell that fired (positive = add-on, negative = discount).
`final_price`	number	`base_price + price_adjustment`, after pricing caps and floors. Higher is better.
`max_ltv`	string	Maximum LTV from the matrix row that matched this scenario (decimal as string).
`max_cltv`	string	Maximum CLTV from the matrix row that matched this scenario.
`adjusters[]`	array	Every LLPA cell that contributed to `price_adjustment`. Order is insertion order from the engine — meaningful for debugging but not contractual.
`adjusters[].category`	string	LLPA grid name (e.g. `FICO/CLTV`, `Purpose`, `Doc Type`, `Property Type`, `Occupancy`, `Product`, `DSCR`, `Miscellaneous Adjustments`).
`adjusters[].row_label`	string	Exact `row_label` from `llpa_adjustments` — useful for cross-referencing the lender's published rate sheet.
`adjusters[].band`	string \| null	Column band when the grid has bands (e.g. `"70.01 - 75%"`); `null` for single-column grids.
`adjusters[].value`	number	Adjustment in points.
`adjusters[].source`	string	`"llpa"` (LLPA grid cell), `"ppp"` (Non-QM PPP table), `"rate_block"` (FlexPoint block + lock-day column selection), or `"state_adjustment"` (FlexPoint per-state Fannie/Freddie adjuster).
`caps_applied[]`	array	Pricing caps or floors that mutated `final_price`. Empty when no cap was hit. See Pricing caps & floors.
`term`	integer	Amortisation term echoed from the request.
`lock_days`	integer	Lock period echoed from the request.
`ppp_term`	string	PPP term echoed from the request.

`rejected[]` — Rejection object

{
  "lender_slug": "non-qm",
  "program_slug": "expanded_doc",
  "program_name": "Expanded Doc",
  "doc_type": "bank_statements",
  "rejections": [
    {
      "key": "no_ltv_matrix_cell",
      "threshold": null,
      "provided": {
        "fico": 740,
        "loan_amount": 500000,
        "occupancy": "investment",
        "purpose": "purchase"
      },
      "source_page": null
    }
  ]
}

The engine emits a rejection at one of two levels:

Program-level — eligibility check failed before pricing began. rejections[] carries one entry per failing rule.
Rate-level (rolled up) — every rate on the ladder was rate-rejected (e.g. NA LLPA cell, min-price floor breach). The engine bubbles up a single entry summarising what happened, with rate and final_price on each rejections[] row plus a detail object describing the cell that triggered it.

Rejection keys

Key	Level	`threshold`	`provided`	Meaning
`doc_type_not_available`	program	`null`	submitted `doc_type`	Requested `doc_type` isn't registered for the program.
`min_fico`	program	minimum FICO	submitted `credit_score`	Credit score below program minimum.
`max_dti`	program	maximum DTI	submitted `dti`	DTI exceeds program maximum.
`min_loan_amount`	program	minimum loan amount	submitted `loan_amount`	Loan amount too small.
`max_loan_amount`	program	maximum loan amount	submitted `loan_amount`	Loan amount too large.
`dscr_ratio_required`	program	minimum DSCR	`null`	Program requires a DSCR ratio and none was provided.
`dscr_min_ratio`	program	minimum DSCR	submitted `dscr_ratio`	DSCR below program floor.
`eligible_citizenship`	program	accepted types	submitted `citizenship`	Citizenship not accepted by this program.
`eligible_states`	program	eligible states or `"all"`	submitted `state`	Property state not eligible.
`no_ltv_matrix_cell`	program	`null`	`{fico, loan_amount, occupancy, purpose}`	No LTV matrix row covers this combination.
`max_ltv_exceeded`	program	`max_ltv` from matrix	computed LTV	Computed LTV exceeds the matrix maximum.
`max_cltv_exceeded`	program	`max_cltv` from matrix	computed CLTV	Computed CLTV exceeds the matrix maximum.
`llpa_na`	rate	`null`	rate that hit the NA cell	An LLPA cell required by this scenario is marked `NA` (hard ineligible at that intersection).
`min_price_floor`	rate	floor price	priced value	Final price would fall below the program's minimum price.
`state_not_offered`	rate	`null`	`{state}`	FlexPoint program ships per-state adjusters but no row matched the scenario state — the lender does not offer the program in that state.

Pricing caps & floors

After LLPA adjustments are summed, every offer is clamped against per-program price caps and a minimum-price floor sourced from programs.cap_* columns. When a cap clamps a price, caps_applied[] records what happened:

{
  "caps_applied": [
    { "key": "Primary / 2nd Homes", "threshold": 102, "provided": 102.875 }
  ]
}

The cap selected for a scenario depends on occupancy, PPP term, and loan amount. Order of evaluation: tightest threshold first.

Cap	Applies when
`Primary / 2nd Homes`	Occupancy is `owner_occupied` or `second_home`
`Investments >= 3YR PPP`	Occupancy is investment with PPP term ≥ 3 years
`Investments w/ < 3YR PPP`	Occupancy is investment with PPP term < 3 years
`No PPP or State Restricted`	Occupancy is investment with `No PPP` or in a state that bans PPP
`Loan Amounts >$1.5m`	`loan_amount > 1,500,000`
`Maximum Price`	Program-wide hard ceiling
`Minimum Price`	Program-wide hard floor — breaching it produces a `min_price_floor` rate rejection rather than an offer

Examples

DSCR investment purchase

curl -X POST https://api.example.com/api/pricer/quote \
  -H "Authorization: Bearer <token>" \
  -H "Content-Type: application/json" \
  -d '{
    "term": 30,
    "purpose": "purchase",
    "credit_score": 740,
    "purchase_price": 625000,
    "loan_amount": 500000,
    "state": "CA",
    "occupancy": "investment",
    "property_type": "sfr",
    "dscr_ratio": 1.15
  }'

What happens internally:

DSCR program is found on the latest rate sheet.
Scalar rules pass: FICO 740 ≥ 640 minimum, loan $500K within $100K–$3.5M range.
LTV matrix lookup: FICO 740 falls in the 740–850 premium band, loan $500K ≤ $1M → max_ltv = 85, max_cltv = 85 (DSCR ≥ 1.00 tier matches dscr_ratio = 1.15).
Computed LTV = $500K / $625K = 80% ≤ 85% ✓
Every non-NA rate on the ladder is priced; LLPA cells across FICO/CLTV, Purpose, Occupancy, Property Type, DSCR, and Product grids are summed into price_adjustment.
Pricing caps applied (e.g. Investments >= 3YR PPP cap of 102 for a 3-year PPP scenario).
Offers sorted descending by final_price.

Full Doc primary residence, 24-month seasoning

curl -X POST https://api.example.com/api/pricer/quote \
  -H "Authorization: Bearer <token>" \
  -H "Content-Type: application/json" \
  -d '{
    "program_slug": "full_doc",
    "doc_seasoning": "24mo",
    "term": 30,
    "purpose": "purchase",
    "credit_score": 720,
    "purchase_price": 800000,
    "loan_amount": 640000,
    "state": "TX",
    "occupancy": "owner_occupied",
    "property_type": "sfr",
    "dti": 42.0
  }'

doc_seasoning: "24mo" causes the Doc Type LLPA grid to resolve to the "24 mo Full Doc" row instead of the default "12 mo Full Doc". Omit the field to preserve legacy behaviour.

ITIN borrower

curl -X POST https://api.example.com/api/pricer/quote \
  -H "Authorization: Bearer <token>" \
  -H "Content-Type: application/json" \
  -d '{
    "term": 30,
    "purpose": "purchase",
    "credit_score": 700,
    "purchase_price": 500000,
    "loan_amount": 400000,
    "state": "FL",
    "occupancy": "owner_occupied",
    "property_type": "sfr",
    "citizenship": "itin",
    "dti": 45.0
  }'

Foreign National investment with PPP

curl -X POST https://api.example.com/api/pricer/quote \
  -H "Authorization: Bearer <token>" \
  -H "Content-Type: application/json" \
  -d '{
    "term": 30,
    "purpose": "purchase",
    "credit_score": 720,
    "purchase_price": 900000,
    "loan_amount": 675000,
    "state": "CA",
    "occupancy": "investment",
    "property_type": "sfr",
    "citizenship": "foreign_national",
    "dscr_ratio": 1.10,
    "ppp_term": "3YR PPP",
    "ppp_table_name": "5% Fixed Fee"
  }'

DSCR short-term rental with escrow waiver & interest-only

curl -X POST https://api.example.com/api/pricer/quote \
  -H "Authorization: Bearer <token>" \
  -H "Content-Type: application/json" \
  -d '{
    "program_slug": "dscr",
    "term": 30,
    "purpose": "cash_out_refi",
    "credit_score": 720,
    "purchase_price": 800000,
    "loan_amount": 560000,
    "state": "FL",
    "occupancy": "investment",
    "property_type": "sfr",
    "dscr_ratio": 1.25,
    "short_term_rental": true,
    "escrow_waiver": true,
    "interest_only": true
  }'

Each toggle adds its own row to adjusters[] on every priced offer (or rejects the offer if the corresponding cell is NA).

FlexPoint Conventional Fixed (30Y, owner-occupied, CA)

curl -X POST https://api.example.com/api/pricer/quote \
  -H "Authorization: Bearer <token>" \
  -H "Content-Type: application/json" \
  -d '{
    "program_slug": "2_conventional_fixed",
    "doc_type": "full_doc",
    "term": 30,
    "purpose": "purchase",
    "credit_score": 740,
    "purchase_price": 500000,
    "loan_amount": 400000,
    "state": "CA",
    "occupancy": "owner_occupied",
    "property_type": "sfr",
    "lock_days": 30
  }'

Returns offers from FlexPoint's Conventional 30 Yr Fixed rate block, lock_30 column. Each offer carries lender_slug: "flexpoint"; the adjuster log includes:

{
  "lender_slug": "flexpoint",
  "program_slug": "2_conventional_fixed",
  "program_name": "Conventional Fixed",
  "doc_type": "full_doc",
  "rate": 5.250,
  "base_price": 95.8826,
  "adjusters": [
    { "source": "rate_block",       "block": "Conventional 30 Yr Fixed", "lock_days": 30 },
    { "source": "state_adjustment", "state": "CA", "agency": "fannie", "value": 0.0 }
  ]
}

Submit the same payload with state: "HI" (or any state outside FlexPoint's 19-state Conv Fixed footprint) and the program appears under rejected[] with a single state_not_offered rejection instead — agency-shape eligibility lets the program survive doc-type/LTV-matrix gates so the state diagnostic is the one the broker sees.

Switching loan_amount above $766,550 (the 2026 conforming limit) automatically routes to the Conventional 30 Yr Fixed HB block when one exists for the term; HomeReady, HomePossible, RefiNow, FHA, VA, and USDA work the same way, each routing to its own block-name pattern.

Program & doc type reference

`program_slug`	`doc_type`	Occupancy	Notes
`full_doc`	`full_doc`	All	W2 / traditional income. Pair with `doc_seasoning` to target the 12 mo vs 24 mo row.
`expanded_doc`	`bank_statements`	All	12 or 24 months personal/business bank statements.
`expanded_doc`	`1099`	All	1099-only income.
`expanded_doc`	`asset_utilization`	All	Asset depletion income calculation.
`expanded_doc`	`pl_statement`	All	CPA-prepared P&L.
`dscr`	`dscr`	`investment`	Requires `dscr_ratio`.
`multi_unit_mixed_use`	`dscr_5_8_unit`	`investment`	5–8 unit / mixed-use; requires `dscr_ratio ≥ 1.00`.
`itin`	`itin`	`owner_occupied`, `non_owner_occupied`	Requires `citizenship: "itin"`.
`fn`	`foreign_national`	`investment`	Requires `citizenship: "foreign_national"` + `dscr_ratio`.

Use GET /api/pricer/programs to enumerate the live catalog at runtime — it reflects whatever the most recent php artisan rates:daily seeded.

Validation errors

PricerQuoteRequest returns a Laravel-standard 422 Unprocessable Entity when validation fails:

{
  "message": "The term field must be one of: 10, 15, 20, 25, 30, 40 years.",
  "errors": {
    "term": ["The term field must be one of: 10, 15, 20, 25, 30, 40 years."]
  }
}

Hard ranges enforced before the engine runs: credit_score 500–850, purchase_price/loan_amount ≥ 50000, dti 0–60, dscr_ratio 0–10, margin_bps 0–1000, state exactly 2 letters, zip exactly 5 digits. Enum-valued fields reject anything not in the documented set above.

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