super jumbo 75% ltv hard money

Super Jumbo 75% LTV Hard Money — The Quick Read: A super jumbo hard money loan is an asset-based, business-purpose loan on a high-value property. That usually means a property worth well above $3 million. At this size, 75% loan-to-value sits near the top of what most private lenders will offer. The property’s equity and exit plan drive approval. Personal-income documentation does not. Leverage, reserves, and paperwork all get stricter as the loan balance climbs. 75% is usually the strongest tier you can get on a stabilized, income-producing asset. It is not a floor. It is not an average.

What “Super Jumbo” Actually Means

No federal agency owns the term “super jumbo.” A standard jumbo loan is anything above the conforming loan limit. The Federal Housing Finance Agency sets that limit each year for every county. Super jumbo sits well above that line. Most of the industry treats a loan above roughly $3 million as super jumbo. The exact cutoff still shifts from lender to lender, since no regulator controls the label.

That matters for how a super jumbo hard money request gets priced and structured. Picture a lender quoting “75% LTV” on a $400,000 rental. Now picture that same lender quoting “75% LTV” on a $4 million estate. These are two very different risk decisions. The dollar exposure behind the second deal is far larger, even though the percentage is identical. That’s the core tension every super jumbo file has to solve. It’s also why the leverage conversation on a large asset almost never stops at one single number. Terms vary by lender guidelines, property type, leverage, credit profile, and full file review.

Why 75% LTV Sits Where It Does

Exact terms depend on the lender’s guidelines, property type, leverage, and a full review of the borrower’s file.

Hard money leverage in general can run well above 75% on smaller, easier-to-comp properties. Experienced investors can see up to 90% LTV in select programs at the top tier. But 75% is where most super jumbo requests actually land. Loan size itself works like a risk multiplier, and it pulls leverage down as the balance grows.

Scotsman Guide reports that hard money LTV in the broader market typically runs from 50% to 75%. Compare that to roughly 80% for a traditional loan. That means 75% already sits at the upper edge of a conservative asset class, even before size enters the picture. Separate Scotsman Guide reporting on private-lender underwriting found the average loan-to-value across surveyed private lenders closer to 65%, with loan-to-cost averaging near 75%. That’s a reminder that 75% LTV is closer to a strong-file outcome than a typical baseline. The same math holds even more true on a super jumbo file. A lender that’s comfortable at 90% on a $250,000 rental duplex is rarely comfortable at 90% on a $6 million asset. Why? A missed payment or a soft resale costs far more in real dollars at that size, even at the same leverage percentage. Reserve expectations climb the same way. Down payment norms on hard money already run well above conventional territory. Scotsman Guide notes 25% to 30% down or higher, versus 3% to 10% on a conventional purchase. Post-closing liquidity gets more scrutiny too as the balance grows.

How Underwriting Actually Treats a Super Jumbo File

The process is collateral-first from the start. It runs in a fairly consistent order across most private-capital shops in a wholesale network:

1. Valuation comes first. An independent appraisal (or, on lower-leverage deals, a broker price opinion) sets the number every other decision hangs off. Comparable sales get thinner as property values climb. Expect more scrutiny, and on some files, a second opinion of value.

2. As-is and after-repair value get tested separately. If the loan includes any renovation work, the lender typically caps as-is leverage higher and after-repair leverage lower. A stabilized 75% quote does not automatically carry over to a value-add deal layered on top of it.

3. Reserves and post-closing liquidity get reviewed. The bigger the balance, the more a lender wants proof the down payment isn’t the borrower’s last dollar. Reserves scale with loan size, property type, and the deal’s overall risk profile.

4. The file gets classified as business purpose. The collateral is non-owner-occupied investment or rental real estate. That means the loan is treated as business purpose, not consumer credit. This is what keeps underwriting focused on the deal itself instead of a personal debt-to-income calculation.

5. Structure gets finalized around exit. Bridge terms, interest-only periods, or a fixed multi-year note all get picked based on the borrower’s plan for the asset — hold, stabilize and refinance, or sell.

Key Terms Defined

LTV (loan-to-value): the loan amount expressed as a percentage of the property’s appraised value — the primary leverage metric on any hard money file.

LTC (loan-to-cost): the loan amount measured against total acquisition-plus-rehab cost rather than appraised value, more common on renovation or ground-up deals.

As-is versus after-repair value: two separate valuation points on the same property — the current condition value and the projected value once planned work is complete — that can carry two different leverage ceilings on the same loan.

Cross-collateralization: pledging one or more additional properties as security alongside the subject property, which lowers the effective, blended LTV a lender is exposed to.

Business-purpose loan: a loan made for investment, rental, or commercial use rather than personal or household use, which is what allows non-QM and hard money lenders to underwrite on the property and the deal rather than personal income documentation.

Structures and Variations Beyond a Flat 75%

A 75% LTV quote is a starting point, not the whole structure. Across a wholesale network of asset-based lenders, the term and repayment structure tied to that leverage can shift quite a bit. It depends on the plan for the property. Every figure here varies by lender and program — guidelines, property type, leverage, and credit profile all apply.

Fix-and-flip structures work a bit differently at super jumbo scale. Some lenders in the network will finance up to 100% of the rehab budget on top of purchase leverage. That’s a rehab-cost figure, not a separate purchase LTV. It does not change the underlying 75%-to-90% purchase leverage ceiling. There’s no true 100% purchase-LTV program in this space. Every deal still needs real borrower equity in the property itself. Eligible collateral for this kind of financing spans residential investment property, multifamily, commercial, industrial, land, and ground-up construction. Credit minimums vary by program. Some lenders carry no fixed floor at all. Instead, they judge the deal mainly on the property’s equity and exit plan, not a credit score cutoff. For a broader look at how jumbo-sized asset-based deals get structured, see Lendmire’s coverage of hard money jumbo loans and the foundational mechanics in what a hard money loan actually is.

Where the 75% Rule Breaks

The 75% figure is a useful anchor. But several situations push it up or down.

Cross-collateralization is the most common lever on outsized single-asset requests. A borrower who pledges other owned real estate as security can bring the blended, effective LTV across all collateral below a lender’s comfort threshold. Sometimes that unlocks a request that wouldn’t clear at the subject property’s standalone leverage cap. Scotsman Guide’s coverage of private-lender decision-making frames this as a real structuring tool, not a workaround. Private lenders get more comfortable as the effective LTV drops, and cross-collateralization is one of the cleanest ways to get there on a large, hard-to-comp asset.

Renovation-heavy deals split the number into two ceilings instead of one. A lender might allow a higher as-is LTV but a much lower after-repair LTV on the same file. On a super jumbo property, the dollar gap between those two ceilings can be huge. Even a small percentage difference turns into a large dollar figure at this size.

Property and entity structure change the underwriting conversation too. These are business-purpose loans, so most close to an LLC or other investment entity, subject to lender program eligibility. That’s worth confirming early. Title and entity paperwork is one of the more common spots where a super jumbo file gets held up during review.

Lendmire’s operator experience across similarly sized asset-based files: the appraisal timeline and comp availability usually set the pace on super jumbo requests, more than credit or documentation do. Thin comparable sales on high-value, low-inventory properties routinely trigger a second opinion of value. Files that get ahead of that — ordering the appraisal early and lining up comps before the lender asks — tend to move through review with fewer stalls.

The Investor Decision at This Size

Super jumbo hard money makes the most sense when an investor needs speed and flexibility on a large, non-owner-occupied asset. It’s the right tool when the deal doesn’t fit a documentation-heavy conventional or Non-QM box — think a distressed high-value property, a portfolio acquisition, or a deal with a clear exit but a tight timeline. It makes less sense as permanent, long-term financing. Terms are shorter and leverage is more conservative than a stabilized long-term hold usually needs.

That’s why most super jumbo hard money loans are built with an exit in mind from day one. Once a property is stabilized and generating rental income, many investors refinance out of the hard money position. They move into longer-term DSCR financing, where qualification runs mainly on the property’s rental income rather than personal income documentation. Lendmire brokers that path for investors moving from a short-term bridge into a permanent hold. On the DSCR side of that transition, cash-out refinance leverage typically tops out around 75% LTV across most of the network. Expect roughly six months of seasoning before cash-out becomes available. 1.00 is where select programs start on coverage — a floor for specific programs, not a universal standard. Stronger ratios open the door to better leverage and pricing. Investors weighing that exit can review Lendmire’s complete DSCR loans guide or look specifically at how a cash-out refinance works after a hard money bridge and whether a hard money lender can handle the cash-out refinance directly.

Lendmire (NMLS# 2371349) is a mortgage broker that arranges business-purpose financing, including hard money and DSCR investor loans, through select lenders across a wholesale network spanning 39 states plus Washington, D.C. Investors evaluating a super jumbo asset-based loan can call 828-256-2183 or request a quote to compare leverage, term, and reserve structures across the network before committing to a single lender’s file.

Nothing here is a commitment to lend, and no specific outcome — approval, leverage tier, or pricing — is guaranteed. Every super jumbo hard money scenario gets reviewed individually. It’s subject to lender approval, property review, borrower qualification, and program guidelines, all of which can change. This article is general information only. It isn’t financial, legal, or tax advice. Tax treatment can depend on how loan proceeds are used and how the property is held, so investors should keep clear records and speak with a qualified tax professional before relying on any deduction. Review details are subject to lender overlays and can vary by property, borrower profile, and loan program.

About Lendmire

Lendmire, NMLS# 2371349, is a mortgage brokerage focused on investor financing, arranging DSCR loans in 39 states plus Washington, D.C. — 40 markets total. Qualification is based on the property’s income rather than personal income documentation, subject to lender guidelines. That makes it a fit for LLC-held rentals and scaling portfolios. Scotsman Guide named Lendmire a Top Mortgage Workplace in both 2025 and 2026.

Many investors treat hard money as the acquisition tool and plan the exit up front – see refinancing out of a hard money loan with a DSCR loan.

References

1. Scotsman Guide — Make Hard Money Work for You

2. Scotsman Guide — Hard Money, Soft Landing

3. Scotsman Guide — Hard Facts about Hard Money

4. Scotsman Guide — How Private Money Lenders Choose Which Loans to Fund