Super Jumbo Bank Statement Loans In West Virginia — The Quick Read: These are loans sized well past standard jumbo limits, qualified on bank deposits instead of traditional personal-income documentation. Through select lenders in Lendmire’s wholesale network, financing runs from $300,000 to $30,000,000 across two program ladders, with leverage stepping down as loan size climbs. West Virginia has one FHFA high-cost county, but that limit doesn’t set where a wholesale lender’s own super jumbo overlay begins.
Key Terms Defined
Super jumbo: market shorthand for a loan well above standard jumbo size — no regulator defines the term, so every lender sets its own threshold.
Bank statement loan: a documentation method that qualifies income from 12 or 24 months of deposits instead of traditional personal-income documentation, common for self-employed borrowers.
Expense factor: a percentage subtracted from gross business deposits to estimate real income, since not every dollar deposited is profit.
Case-by-case review: manual underwriting applied above certain loan sizes, where compensating factors matter more than a fixed rule.
Asset allowance: a qualifying path using liquid assets divided by a set number of months instead of deposits or traditional personal-income documentation.
Key Takeaways
- Loan sizes run $300,000 to $30,000,000 through two separate wholesale ladders — a portfolio non-QM program to $6,000,000 and a bank portfolio program carrying twelve-month files to $30,000,000.
- Leverage steps down as loan size rises: as high as 90% on a primary residence near the entry tier, down into the 55-65% range above $5,000,000.
- Everything above $4,000,000 goes through case-by-case review before submission — that’s a routine step, not a red flag.
- Credit floors rise with size: 660 on the portfolio program, 680 on the bank program, 700 above the super-jumbo overlay line (roughly $3,500,000 on a primary residence, $3,000,000 on a second home or investment property).
- Income is calculated from deposits after an expense factor, or from an asset-based path when a borrower has liquidity but thin cash flow.
Why Self-Employed Borrowers Need This Product
A self-employed borrower’s tax return often understates real cash flow, since legitimate business write-offs shrink adjusted gross income. That’s fine for tax planning. It’s a problem when a conventional lender reads that low number as the whole story.
Bank statement underwriting fixes this by looking at deposits, not deductions. A founder, physician, attorney, or contractor with strong monthly cash flow but modest reported income can qualify on what actually lands in the account. West Virginia has a meaningful base of business owners and tradespeople whose returns don’t reflect their real earning power — this product exists for exactly that gap.
Market context matters too. Per Ark7’s 2026 West Virginia investment analysis, the state’s home values sit well below the national norm, and property taxes here run comparatively light versus many other states. Combine low entry pricing with achievable gross rental yields — Ark7 cites roughly 6% to 8% in top markets before expenses — and a self-employed investor scaling a rental portfolio has real reason to want financing that doesn’t hinge on a thin Schedule C number.
How Bank Statement Income Gets Calculated
Underwriters pull 12 or 24 consecutive months of statements — never a transaction history printout, always the actual statements. A shorter 12-month window captures recent income growth. A longer 24-month window smooths out a lumpy year. Which one gets used often depends on which makes the file stronger, and the portfolio program in Lendmire’s network reviews both windows while the bank portfolio ladder runs strictly off 12 months.
On personal accounts, eligible deposits are simply totaled and divided by the number of statement months. On business accounts, an expense factor gets applied first — a haircut meant to strip out overhead before arriving at real income. That factor typically scales with staffing and business type, running lowest for a service business with no employees and moving progressively higher for businesses with more employees or any product-based company, though exact percentages vary by lender and file. A borrower can also bring an accountant-provided ratio, or use a profit-and-loss method capped at 80%.
Transfers from the borrower’s own business account into a personal account count in full — 100% — as long as ownership is documented at 25% or more. Transfers from someone else’s account, or unexplained deposits, get stripped out entirely. That screening step is where clean books matter more than almost anything else in the file.
For investors who’d rather qualify on the property’s income instead of personal deposits, Lendmire’s complete DSCR loans guide walks through that separate qualifying path — a different test, but similar documentation logic underneath.
Loan Sizes and the Two-Program Ladder
Financing through select lenders in Lendmire’s network runs from $300,000 to $30,000,000, but it doesn’t move on one continuous scale. There are two distinct ladders.
A portfolio non-QM bank-statement program carries files to $6,000,000. Separately, a bank portfolio program carries twelve-month-statement files all the way to $30,000,000 on its own leverage ladder: 65% at or below $5,000,000, 60% at or below $10,000,000, and 55% up to $30,000,000, with interest-only capped at 60% or the band’s own ceiling, whichever is lower. That bank program’s ladder begins above $4,000,000 and overlaps the portfolio program through $6,000,000. Above $6,000,000, the bank program stands alone.
Neither program is named publicly — these are wholesale relationships Lendmire brokers, not retail products with a storefront brand.
Leverage: Where the Ladder Steps Down
Leverage on a primary residence starts strong and tightens as the loan size grows. On most files through Lendmire’s network, purchase leverage runs roughly:
| Loan Size | Primary Residence Purchase LTV | Credit Floor |
|---|---|---|
| $300K–$1M | Up to 90% | 680+ |
| $1M–$2M | Up to 85% | 700–720+ |
| $2M–$3M | Up to 80% | 720+ |
| $3M–$4M | 75% | 720–760+ |
| $4M–$6M | 60–65%, case by case | 680+ |
| $6M–$30M | 55–60%, case by case | 680+ |
Second homes and investment properties run roughly five points lower at every size band on this ladder. An investment property purchase near $1,000,000, for instance, tops out closer to 80–85% rather than the primary-residence figure at that size, and cash-out leverage sits lower still — often 70-75% depending on the size tier, subject to lender guidelines.
Every figure above $4,000,000 is a ceiling reviewed case by case before submission — never treat it as an automatic “up to” number. Above that threshold, additional overlays kick in: a 700 credit floor, clean housing history, 48-month seasoning on any credit event, and no non-owner-occupant co-borrowers.
Documentation and Reserves
Reserve requirements scale with loan size on most files: three months of reserves at or below $500,000, six months up to $1,500,000, and nine months above that — plus two additional months for each other financed property, capped at twelve months. First-time real estate investors are typically held to twelve months regardless of loan size.
Debt-to-income can run as high as 50% on many files. Credit floors move with size and program: 660 on the portfolio program, 680 on the bank portfolio program, and 700 once a loan crosses into the super jumbo overlay zone.
Cash-out is available with no cap on proceeds at or below 60% LTV. Above that threshold, the portfolio program caps cash-in-hand at $1,500,000. The bank portfolio program carries no published cash-out cap, though every file above the overlay thresholds gets manual review regardless. Every figure here varies by lender and program — guidelines, property type, leverage, and credit profile all apply.
For borrowers whose income comes through business accounts rather than personal ones, using business bank accounts on a super jumbo covers how ownership percentage and account type affect the calculation.
When Deposits Aren’t the Right Fit: Asset-Based Paths
Not every high-net-worth borrower has clean, predictable deposits — some carry substantial liquid assets instead. An asset allowance path divides liquid assets by 36, 60, or 84 months to generate a qualifying income figure, available on primary and second homes up to 80% LTV. The 84-month version is required as a standalone path, or for any loan above $3,500,000. Final terms depend on lender guidelines, property type, leverage, and the borrower’s complete credit picture.
There’s also an assets-only path with no DTI calculation at all — it requires U.S. liquid assets equal to the loan amount, plus closing costs, plus sixty months of coverage for any net loss on other residential property the borrower holds. Retirement accounts count at 70%, rising to 80% for borrowers 59.5 or older. Business funds, gift funds, most trusts, unvested stock, and cryptocurrency never count toward either asset path.
Where the Rule Breaks: Named Edge Cases
Above $4,000,000, nothing is automatic. Every loan crossing that line goes through case-by-case review before it’s even submitted. Strong reserves, clean housing history, and a well-documented income story matter more here than at smaller sizes.
Seasonal or lumpy deposits shift the window choice. A borrower with one strong quarter and several weak months often qualifies better on a 24-month average than a 12-month snapshot, since the longer window smooths the swing.
Commingled accounts are the most common reason a file stalls. Running personal expenses through a business account, or vice versa, without clean documentation makes deposit screening far harder. Clean books before applying, not after.
Texas 50(a)(6) home-equity loans take a leverage cut. A five-point LTV reduction applies, and the portfolio program stops those loans at $3,000,000 — worth flagging for any West Virginia investor also holding Texas property.
Rural and condotel properties have separate ceilings. Rural properties are capped at 80% LTV on ten acres or less and never exceed $3,000,000. Condotels run 75% on a purchase and 65% on cash-out through the portfolio program, or 50% through the bank program. These specifics are subject to lender guidelines and a full review of property, leverage, and credit.
West Virginia’s own conforming-limit picture is a different animal entirely. Most of the state’s 55 counties sit at the national conforming baseline, but one — Jefferson County — is designated high-cost, with a ceiling near $1,249,125, per Fannie Mae’s loan limit page. That figure defines where agency financing tops out. It has nothing to do with where a wholesale lender’s super jumbo overlay begins — that threshold is set independently by each program, not by any federal loan limit.
What This Looks Like for a West Virginia Investor
Rental fundamentals in the state lean affordable on both sides of the ledger. Average fair market rent runs around $1,140, compared to a national average of $1,551, according to rentalrealestate.com’s 2026 West Virginia rent data. Paired with sub-$200,000 average home values, that combination supports the gross yields Ark7 cites in the 6-8% range for stronger submarkets — good buy-and-hold math for an investor who can actually get financed on real cash flow rather than a suppressed tax return.
Picture a self-employed contractor holding several rental doors across two or three counties, funded through a mix of business deposits and personal transfers. A bank statement file lets that income get credited properly, rather than forcing the file to lean on a net-loss Schedule C. Whether the eventual purchase runs through the portfolio program or the bank program’s ladder depends on size, credit, and how the deposits shake out — subject to full underwriting.
Frequently Asked Questions
What’s the minimum loan size for a super jumbo bank statement loan? Minimum loan size varies by lender, and select lenders in Lendmire’s network set their own thresholds; at the lower end of that range, a borrower may also fit standard jumbo or agency programs. The bank statement structure becomes more relevant as size and self-employment complexity increase. Terms vary by lender guidelines, property type, leverage, credit profile, and full file review.
Does West Virginia’s high-cost county change these programs? No. Jefferson County’s FHFA high-cost designation affects agency and FHA loan limits only. Super jumbo bank statement programs set their own thresholds independent of any conforming-loan ceiling.
Can 24 months of statements produce a higher income figure than 12 months? Sometimes, but usually the opposite. A 12-month window can produce a higher figure if income has grown recently; a 24-month window typically averages out swings and is often easier to qualify against for volatile earners.
What happens above $4,000,000? Every file above that size goes through case-by-case review before submission. Leverage compresses further, the credit floor rises to 700, and additional seasoning and occupancy overlays apply.
Is a DSCR loan a better fit than a bank statement loan for a rental purchase? It depends on the borrower. DSCR loans qualify primarily on property-level rental income covering the payment, subject to lender guidelines, while bank statement loans qualify on the borrower’s own deposits. An investor with strong personal cash flow but a property that doesn’t quite cash flow on its own might do better with a bank statement approach, or vice versa.
Investors weighing a large purchase or refinance can reach Lendmire to compare how loan size, deposits, assets, and credit profile line up against current wholesale-network guidelines before choosing a program.
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 is a non-QM mortgage brokerage (NMLS# 2371349) arranging DSCR investor loans in 40 markets, including Washington, D.C. DSCR eligibility is generally reviewed around property-level rental income rather than personal income, subject to lender and program guidelines, a fit for self-employed investors and LLC-owned portfolios. Lendmire was recognized as a Scotsman Guide Top Mortgage Workplace in 2025 and 2026.
Lendmire’s Top Mortgage Workplace recognition is documented by Scotsman Guide 2025 Top Mortgage Workplace and Scotsman Guide 2026 Top Mortgage Workplace.
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References
1. Ark7 — Best Places to Invest in West Virginia 2026
2. Fannie Mae Single Family Loan Limits page
3. rentalrealestate.com — WV Average Rent Prices 2026
Brandon Miller
Founder & CEO, Mortgage Loan Originator, Lendmire LLC
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Disclosure information. Lendmire is a state-licensed mortgage brokerage under NMLS# 2371349. Lendmire is not a depository institution, direct lender, or financial advisor — all loans referenced are placed through wholesale lender partners and are subject to each lender's underwriting standards. This article is provided for general informational purposes and is not a commitment to lend, nor does it constitute financial, legal, or tax advice. Loan programs, terms, rates, and qualification standards change without notice and depend on borrower profile, property type, and the state in which the subject property is located. Equal Housing Opportunity provider. NMLS Consumer Access: nmlsconsumeraccess.org.
