Super Jumbo Bank Statement Loans In Cherry Hills Village — The Quick Read: These loans let a self-employed borrower qualify on bank deposits instead of traditional personal-income documentation, and they scale from roughly $300,000 to $30,000,000 through two separate wholesale ladders. Leverage steps down as the loan size climbs — 90% near the entry point, down into the 50s-60s at the top — and anything above $4,000,000 gets pulled for individual underwriter review before it’s even submitted. The mechanics don’t change because a home happens to sit in an affluent enclave; the loan size and the borrower’s deposit history do all the work.
Cherry Hills Village doesn’t have its own mortgage rules. What it has is a buyer profile — business owners, physicians, attorneys, founders — whose 1040s routinely understate what they actually bring home. That gap between taxable income and real cash flow is exactly what a bank statement loan is built to close, and at the price points common in that kind of market, “jumbo” becomes “super jumbo” fast.
Key Terms Defined
Bank statement loan — a non-QM mortgage that qualifies a borrower using deposit history from personal or business bank accounts instead of traditional personal-income documentation and W-2s.
Super jumbo — an unofficial, lender-defined tier for loans well above the standard jumbo threshold; there’s no federal size cutoff that creates it, just internal risk pricing at each lending shop.
Expense ratio (or expense factor) — a haircut applied to business-account deposits before they count as income, because a business account co-mingles revenue with overhead like payroll and inventory.
Case-by-case review — files above a certain size don’t run through a published leverage grid; an underwriter reviews the borrower, property, and program fit individually before the deal works forward.
Asset allowance — a qualification path that converts liquid assets into monthly income by dividing the balance across a set number of months, used alongside or instead of deposit income.
What Actually Counts As Income Here
A bank statement loan totals eligible deposits over a set window and divides by the number of months reviewed — that average becomes the qualifying income figure. Through select wholesale programs, that window runs 12 or 24 consecutive months, and the choice matters more than most borrowers expect.
A shorter, 12-month window tends to flatter a business that’s grown recently — a strong current year isn’t diluted by a weaker prior one. A 24-month window smooths out a spike or a dip, which helps a borrower whose income is genuinely stable but happened to have one unusually strong or unusually thin month somewhere in the mix. Neither window is inherently better; it depends on the shape of the deposit history.
Personal account transfers from the borrower’s own business count in full — no haircut. Business account deposits get reduced by an expense ratio first, because the underwriter has to assume some of that money paid rent, staff, and suppliers before it ever became personal income. On the programs Lendmire places files with, that ratio generally scales with headcount and business type — lower for a service business with no employees, moderate for a small team, and higher for a business with a larger staff or one that sells a physical product — though an accountant-provided ratio or a profit-and-loss method (capped at 80%) can sometimes replace the fixed figure when a borrower’s real overhead runs lighter than the default assumes. Business statements generally require at least 25% ownership in the entity being used to qualify.
How Big Can This Loan Actually Get?
Loan amounts on these programs run from roughly $300,000 up to $30,000,000, but that range lives across two separate ladders, not one flat program. A portfolio non-QM bank-statement program carries files to $6,000,000. A second, bank-portfolio program carries twelve-month-statement files all the way to $30,000,000 on its own leverage schedule — 65% loan-to-value to $5,000,000, 60% to $10,000,000, and 55% up through $30,000,000, with interest-only capped at 60% or the band’s own ceiling, whichever is lower. The two programs overlap between roughly $4,000,000 and $6,000,000; above that, the bank program stands alone.
That two-ladder structure is the single biggest thing competing coverage of bank statement lending skips over. Most explainers treat “jumbo bank statement loan” as one product with one leverage number. It isn’t. A $2,500,000 purchase and a $12,000,000 purchase aren’t on the same grid at all — they’re not even on the same program.
The Leverage Ladder, Step By Step
On a primary residence, leverage through select wholesale programs starts near 90% purchase and rate-and-term at the $300,000-$1,000,000 tier with a 680+ credit score, then steps down as the loan size grows: roughly 85% in the $1,000,000-$2,000,000 range, 80% through $3,000,000, and down into the 60s and 55-60% territory once a loan clears $4,000,000-$6,000,000 — with everything above $4,000,000 reviewed case by case before it’s submitted, never a flat “up to” number. Credit score minimums climb alongside loan size, often reaching 720 or higher by the $2,000,000-$3,500,000 range.
Second homes and investment properties run about five points lower than a comparable primary-residence tier at every size, and both are subject to their own separate ladders through the same wholesale network. A $2,500,000 investment purchase, for example, typically tops out closer to 75% rather than the 80% a primary residence might see at that same size — and cash-out on a standard rental caps around 75% LTV while cash-out on short-term-rental collateral caps lower, around 70%, reflecting the added income volatility a lender assumes with nightly-rate properties.
Above $3,500,000 on a primary residence, or above $3,000,000 on a second home or investment property, extra rules apply. You’ll need a 700 credit floor, a clean 24-month (or longer) housing-payment history, and extended seasoning on any past credit event. You must also be a U.S. citizen or permanent resident, have no non-occupant co-borrowers, avoid rural property, and stay under a ten-acre lot maximum. At this level, cash-out proceeds can’t be used to meet reserve requirements. The reserves have to already exist somewhere else.
Where Deposits Alone Don’t Tell The Story
Not every high-net-worth borrower has clean, steady business deposits. Someone living off investment distributions, retirement draws, or simple accumulated liquidity might qualify better through an asset-based path than through deposit averaging.
An asset allowance divides your liquid assets by 36, 60, or 84 months to create a monthly qualifying-income figure. Lenders require the 84-month period either as a standalone approach or whenever the loan itself exceeds $3,500,000. This option applies to primary residences and second homes, up to 80% loan-to-value. It’s a supplemental option, not a replacement for every file. There’s also a separate assets-only path that skips debt-to-income calculations entirely. To use it, your U.S.-based liquid assets must equal the full loan amount, plus closing costs, plus — if relevant — five years of any net loss on another residential property. Retirement account balances count toward either path at 70%, rising to 80% if you’re 59.5 or older. Business funds, gifted money, most trusts, unvested stock, and cryptocurrency don’t count at all.
If you’re an investor deciding whether a rental purchase should run on your personal bank statements or the property’s own income, Lendmire’s comparison of DSCR loans against bank statement loans may help. For a pure investment purchase, property-level cash flow often replaces personal deposit math entirely. You mainly qualify based on whether the property’s rental income covers the payment, subject to lender guidelines. For a deeper walk-through of how that works, check Lendmire’s complete DSCR loans guide, which covers the mechanics end to end.
Reserves, Credit, and the Debt-to-Income Ceiling
Reserve requirements scale with loan size: typically three months of housing payment on loans to $500,000, six months to $1,500,000, and nine months above that, plus two additional months for every other financed property the borrower owns, up to a twelve-month maximum. A first-time investor — someone who hasn’t owned a rental before — is generally held to twelve months of reserves regardless of loan size.
Credit floors sit at 660 on the portfolio program, 680 on the bank program, and 700 once a file crosses into super-jumbo overlay territory. Debt-to-income can run as high as 50%, but because qualifying income on a bank statement file is already a discounted average — not the borrower’s actual take-home — every other monthly obligation carries more weight than it would on a standard mortgage. A borrower with light installment debt and strong reserves generally has meaningfully more leverage room than one carrying several auto loans and thin cash reserves, even with identical deposit income.
Borrowers whose income comes from restricted stock units or vesting equity face a related documentation challenge. Deposits from RSU sales don’t always look like ordinary income to an underwriter. Lendmire’s guide on using RSU and vesting income explains how lenders treat this income type differently from straight bank-statement deposits.
Where This Breaks From The General Rule
Three things routinely trip up borrowers who assume bank statement lending works the same everywhere.
There’s no single expense-ratio percentage. The 20/40/50% figures above are common defaults through select wholesale programs, but an accountant letter or a profit-and-loss calculation can shift that number meaningfully — sometimes in the borrower’s favor, sometimes not.
Above $4,000,000, the published grid stops applying. Every file at that size gets reviewed individually before submission. Two borrowers with identical loan amounts and similar credit profiles can land on different leverage depending on property type, deposit consistency, and overall file strength.
Documentation type and loan size are two different questions entirely. A loan can be jumbo-sized and still fully documented with traditional personal-income documentation, or it can be modest in size and still use bank statements. Confusing the two — assuming “jumbo” automatically means “non-QM” — leads borrowers to the wrong program conversation from the start.
Non-QM lending made up roughly 9% of total mortgage lock volume in a recent measured period. This comes from Scotsman Guide’s coverage of dv01 performance data. Bank-statement and DSCR investor loans together made up most of that volume. Interestingly, credit score — not documentation type — was the sharper predictor of how these loans performed.
What A Business-Purpose Loan Skips
DSCR loans are made for investment properties that the owner doesn’t live in. They’re business-purpose loans, not consumer mortgages. So lenders review them differently than a standard owner-occupied purchase. These loans fall outside the Ability-to-Repay/Qualified Mortgage rules that govern owner-occupied lending under Regulation Z. Bank statement loans work differently. If you use one for a primary residence or second home, you don’t get that exemption. Lenders still must apply an ability-to-repay standard. They just check it through your deposit history instead of traditional income documents.
Frequently Asked Questions
Does a bigger down payment always mean better leverage on a super jumbo file?
Not automatically — leverage caps step down by loan size regardless of how much a borrower is willing to put down, and above $4,000,000 every file goes through individual review rather than a fixed grid. A larger down payment helps, but it doesn’t override the size-based ceiling.
Can business account deposits from an S-corp or partnership be used at all?
Yes, typically with at least 25% ownership in the entity, and the qualifying deposits get reduced by an expense ratio before they count as income. Personal transfers the borrower pulls out of that same business into a personal account generally count in full without the haircut.
What happens if a borrower’s income is seasonal?
A 24-month statement window usually helps here, since it averages a strong season against a slower one rather than judging the file on whichever months happen to fall in a 12-month lookback. The right window depends on the specific shape of the deposit pattern.
Is a bank statement loan the right tool for buying a rental property instead of a primary home? Often not the first choice — for a pure investment purchase, many investors find a DSCR loan a better fit since it qualifies primarily on the property’s own rental income rather than personal deposits, subject to lender guidelines.
Why would a $5,000,000 loan and a $2,500,000 loan on similar properties get different leverage? Because leverage steps down as loan size increases through these ladders, and files above $4,000,000 shift to individual underwriter review rather than a fixed published percentage. Loan size, not property value alone, drives the leverage available.
If you’re weighing bank statement financing against a rental-property purchase or refinance and want to see how the numbers actually work, Lendmire can help compare options based on income documentation, credit profile, leverage, and investor goals.
For current guidelines and terms, see Lendmire’s super jumbo bank statement loan programs page.
Self-employed borrowers can compare both super jumbo programs on Lendmire’s self-employed mortgages page.
About Lendmire
Lendmire (NMLS# 2371349) is a mortgage brokerage focused on DSCR investor financing, helping arrange programs through wholesale and investor-lending channels in 40 markets, including Washington, D.C. DSCR loans are evaluated by the lender on property cash flow rather than personal income, subject to lender guidelines, supporting LLC closings and accommodating investors with four or more financed properties. Scotsman Guide Top Mortgage Workplace in both 2025 and 2026.
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References
1. Scotsman Guide — Non-QM gaps widen between full-doc and alt-doc loans
2. market tracking — govinfo.gov Federal Register Final Rule Text
Brandon Miller
Founder & CEO, Mortgage Loan Originator, Lendmire LLC
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Legal disclosures. Lendmire (NMLS# 2371349) is a state-licensed mortgage brokerage that arranges financing through wholesale lender relationships. Lendmire is not a direct lender, depository institution, or registered financial advisor. The discussion above is general informational content about real estate financing — it is not financial, legal, or tax advice, and readers should consult licensed professionals for guidance on their individual circumstances. Loan inquiries are subject to lender underwriting; this article does not represent a commitment to lend. Loan terms, rates, and qualification standards vary by borrower, property, and state, and are subject to change at any time. Equal Housing Opportunity. NMLS Consumer Access: nmlsconsumeraccess.org.
