The Quick Read: The floor rises with the loan size. Pricing and available terms vary by lender, borrower profile, property type, and full underwriting review. Your deposits set your income. Your score sets how much leverage you get.
- No federal rule sets a minimum score. Each program sets its own floor.
- The floor is 660 on the portfolio program and 680 on the bank program. The portfolio program moves to 700 above its super-jumbo line.
- On a primary residence, the leverage ladder asks for 680 or better up to $1,000,000, 700 or better to $1,500,000, and 720 or better from $1,500,000 to $3,500,000.
- Above $3,500,000 on a primary residence, or $3,000,000 on a second home or investment property, the portfolio program’s 700 floor and tighter overlays apply.
- Above $4,000,000, every file is reviewed case by case before submission.
What Counts as Super Jumbo?
Super jumbo means a balance above the jumbo range, where underwriters add score, reserve, and housing-history overlays. Across the wholesale network, the working range runs from $300,000 to $30,000,000. Two programs carry those files. A portfolio non-QM program runs to $6,000,000. A bank portfolio jumbo program takes twelve-month-statement files to $30,000,000 on its own ladder. On a primary residence that ladder begins above $4,000,000 and overlaps the portfolio program to $6,000,000. On a second home it begins above $5,000,000. On investment property it begins above $3,000,000. Above $6,000,000 it stands alone.
The overlays hit earlier than most borrowers expect. On the portfolio program they start above $3,500,000 on a primary residence and above $3,000,000 on a second home or investment property. At that point the floor is 700, housing history must be 0x30x24, any credit event needs 48 months of seasoning, and the borrower must be a U.S. citizen or permanent resident.
Is There a Federal Minimum Credit Score?
No. The ability-to-repay section of Regulation Z says creditors must consider credit history. Its official comment says the rule does not require a consolidated score and does not prescribe a minimum. The CFPB’s small-entity compliance guide adds that credit history is one of eight mandatory factors, and the rule does not say how to weigh it.
So the floor is program policy, not law. That is why one super jumbo file can clear at one program and miss at another. Across a wholesale network, the broker’s job is to match the score to the program whose ladder fits it.
Non-QM is not subprime either. Scotsman Guide, citing Cotality data, reports that the average non-QM borrower had a 776 FICO in 2024. Real borrowers sit far above the floors. Final terms depend on the lender’s guidelines, the property type, and the borrower’s complete credit picture.
Deposits Set Income, the Score Sets Leverage
Keep these questions apart. On a bank statement file, income comes from 12 or 24 months of consecutive personal or business statements. The lender takes eligible deposits, divides by the statement months, and applies an expense ratio, which can be set in several ways:
- A service business with no employees: a lower expense ratio
- A higher ratio for a service business with a small team
- A higher ratio still for larger teams or any product business
- An accountant-provided ratio, if you have one
- A profit-and-loss method, subject to program limits
Business statements need at least 25% ownership. Transfers from your own business into your personal account count in full. Transaction histories never replace statements.
None of that depends on your score. The score does something else. It is matched to a leverage tier by loan size and occupancy. Missing a tier usually means a lower maximum LTV, not an automatic decline. The credit report itself is the verification record for credit history.
Score by Loan Size: Primary Residence
Through select wholesale programs, subject to full underwriting, these are the best available leverage ceilings on a primary residence. Each pairs the credit score for that leverage with the LTV it unlocks. It is not a program floor.
| Loan size | Credit for this leverage | Purchase LTV | Cash-out LTV |
|---|---|---|---|
| $300K–$1M | 680+ | 90% | 80% |
| $1M–$1.5M | 700+ | 85% | 80% |
| $1.5M–$3M | 720+ | 85% to 80% | 75% to 70% |
| $3M–$3.5M | 720+ | 75% | 65% |
| $3.5M–$4M | 760+ | 75% | 65% |
| $4M–$5M | 680+ | 65%, on review | 60%, on review |
Two things stand out. First, the score needed for top leverage climbs through $4,000,000, then resets where the bank program takes over, and the leverage is lower instead. Second, no loan above $1,000,000 gets 90%. A high score does not buy top leverage at any size.
Above $4,000,000 the bank program carries the file. The ladder reads 65% to $5,000,000, 60% to $10,000,000, and 55% to $30,000,000, all reviewed case by case before submission. Its own floor is 680.
Second Homes and Investment Property Have Their Own Ladders
Second homes and investment property do not simply subtract a fixed number from the primary figure. Each takes its own ladder, and the gap to the primary-residence ceiling runs from 0 to 15 points depending on the band. Read the figure from the occupancy’s own cell. Through select wholesale programs, subject to underwriting:
- Investment property, purchase, $300K–$1M: 85% LTV at 700+.
- Investment property, purchase, $1M–$1.5M: 80% LTV at 680+.
- Investment property, purchase, $1.5M–$2M: 80% LTV at 700+.
- Investment property, purchase, $2M–$2.5M: 80% LTV at 720+.
- Investment property, purchase, $2.5M–$3M: 75% LTV at 720+.
- Investment property, purchase, $3M–$4M: 60% LTV at 680+. This band sits on the bank program, whose investment-property ladder begins above $3,000,000.
- Investment property, purchase, $4M–$5M: 65% LTV at 760+, on review, on the portfolio program with super-jumbo overlays. Terms vary by lender guidelines, property type, leverage, credit profile, and full file review.
Each figure is subject to lender guidelines and a complete review of property type, leverage, and credit.
Note the $3M–$4M step. Leverage drops to 60%, and the super-jumbo overlays apply above $3,000,000 on an investment property. Read the full cell for your size, not one number. Second homes are one-unit only.
Cash-out costs more score for the same leverage. Cash-out ceilings sit below purchase at every size, and cash-out proceeds cannot satisfy reserves above the super-jumbo line.
Which Score Does the Lender Use?
Programs commonly use the middle score or the lowest score among borrowers. The CFPB guide says that for joint obligors with primary liability, the creditor must consider both credit histories. A guarantor’s history does not have to be considered under that rule, though individual programs may differ. Confirm the convention before you add a co-borrower. Non-occupant co-borrowers are not allowed above the super-jumbo line.
Beyond the Score: What Else Gets Checked
A clean score can still miss. The file also carries:
- Housing history: 0x30x24 above the super-jumbo line.
- Credit events: 48 months of seasoning above that line.
- DTI: up to 50%.
- Reserves: 3 months to $500,000, 6 months to $1,500,000, 9 months above. Add 2 months per additional financed property, to a 12-month maximum. First-time investors need 12.
- Cash-out cap: unlimited at or below 60% LTV. Above 60% on the portfolio program, proceeds are capped at $1,500,000. Leverage, reserves, and pricing vary by lender and program; the final terms follow the full file review.
A common reason a high-score file stalls is the deposits, not the credit. Deposits must match the type of business, and underwriters look closely at every one. Irregular deposits or income that does not fit the business draw questions. (Large one-off transfers are the usual culprit.)
A Worked Profile
Consider a self-employed founder buying a primary residence at $2,800,000 with a 735 middle score. Traditional personal-income documentation shows modest income after write-offs. Twelve months of business statements show strong deposits. The lender applies the expense ratio and averages the result, and that figure is the qualifying income.
At that size, the 735 clears the 720 tier. Purchase leverage tops out at 80%, subject to underwriting. Housing history, reserves, and DTI follow. Had the score been 705, the file would not be dead. It would move to a lower LTV, a smaller loan, or a program with a different ladder. The deposit math would stay the same.
If Your Score Falls Short
Here are the usual moves, in the order a broker tries them:
1. Check which tier you miss and by how many points.
2. Pay down revolving balances before the next pull.
3. Avoid new credit until the file closes.
4. Lower the loan amount into an easier band.
5. Bring a larger down payment, which lowers the LTV the score has to support.
6. Compare programs, since the portfolio and bank ladders differ.
An investor with high credit but unsteady business deposits may do better on property cash flow instead. A DSCR loan is reviewed primarily on property-level rental income covering the payment, subject to lender guidelines. Lendmire’s complete DSCR loans guide walks through that path. DSCR loans are designed for non-owner-occupied investment properties. Because they are business-purpose investor loans, they are reviewed differently from a standard owner-occupied mortgage.
Key Terms Defined
Super jumbo: a loan large enough that lenders add score, reserve, and housing-history overlays beyond standard jumbo rules.
Bank statement loan: a mortgage that is reviewed on deposits in 12 or 24 months of statements instead of traditional personal-income documentation.
Expense ratio: the share of deposits treated as business costs before income is counted.
LTV: loan amount divided by property value.
Seasoning: the months that must pass after a credit event before a lender will consider the file.
Middle score: the median of three bureau scores.
Five Myths Worth Dropping
“Non-QM means subprime.” The 776 average FICO cited above says otherwise.
“There is a federal minimum score.” The CFPB comment says there is not.
“No-doc means no verification.” Income or assets must still be verified on a consumer loan. Bank statements are the verification.
“A high score gets top leverage at any size.” Ceilings shrink as the loan grows.
“The score decides income.” Deposits do, not the score.
Frequently Asked Questions
Can I get a super jumbo bank statement loan with a 660 score?
Only at the low end of the size range. A 660 clears the portfolio program’s floor, but the leverage ladder asks for 680 or better even in the smallest band, and the portfolio program moves to 700 above its super-jumbo line. Expect a reduced LTV or a smaller loan, subject to full underwriting.
Does a higher score raise my maximum LTV on a $5 million loan?
Not much. Above $4,000,000 the bank program’s own ladder sets the ceiling by loan size, and every file is reviewed case by case before submission. Score helps you stay in the tier. Size sets the cap.
Does my score affect how my deposits are counted?
No. Deposits, the expense ratio, and the statement months set qualifying income. The score only places you on the leverage ladder.
What happens if I had a recent credit event?
Above the super-jumbo line, a credit event needs 48 months of seasoning, and housing history must be 0x30x24. Below that line, programs differ, so the event’s type and date matter.
Is the score requirement different for an investment property?
Yes. An investment property takes its own ladder, and its leverage and score cells differ from the primary-residence figures band by band. The super-jumbo overlays start above $3,000,000 on an investment property, compared with $3,500,000 on a primary residence.
Next Step
If you are financing a high-balance property on business or personal bank statements and want to see how the numbers work, Lendmire can help you compare super jumbo bank statement loan options based on your deposits, the property, credit profile, leverage, and your goals. Consumer lending is licensed in 16 states: AL, CA, CO, FL, GA, IN, MI, MT, NM, NC, OH, PA, TN, TX, VA, and WA. All figures are ceilings through select wholesale programs, subject to full underwriting, and nothing here is a commitment to lend. Tax treatment can depend on how the funds are used and how the property is held, so keep clear records and speak with a qualified tax professional.
Lendmire’s self-employed mortgages page presents both super jumbo programs, bank statement and DSCR, side by side.
About Lendmire
Lendmire (NMLS# 2371349) is a mortgage brokerage focused on DSCR investor financing, helping arrange programs through wholesale and investor-lending channels in 41 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.
Get Started
Ready to find the right loan for you?
In about 30 seconds you can review financing options available for your home or investment property. No commitment required.
Informational only. Not a Loan Estimate, approval, or commitment to lend. Program availability and eligibility are subject to lender guidelines, credit approval, property review, and underwriting.
References
2. CFPB ATR/QM Small Entity Compliance Guide
3. Scotsman Guide: Which groups are driving non-QM lending?
This article is part of Lendmire’s super jumbo bank statement loan program — full qualification details, guidelines, and scenarios live on the program page.
Related reading: How Much Down Payment Does a Super Jumbo Bank Statement Second-Home Loan Need? · How Big Can a Super Jumbo Bank Statement Second-Home Loan Be? · Is a Super Jumbo Bank Statement Loan Available in Texas?
Brandon Miller
Founder & CEO, Mortgage Loan Originator, Lendmire LLC
- Mortgage Loan Originator · NMLS# 1129696 · Verify on NMLS Consumer Access
- North Carolina Real Estate Broker · License# 343312 · Verify on NCREC
- North Carolina Insurance Producer · License# 19053198 · Property, Casualty, Life, Health · Verify on NAIC SBS
- Lendmire LLC · Firm NMLS# 2371349 · Verify firm licensure
Compliance and disclosures. Lendmire (NMLS# 2371349) is a licensed mortgage broker and is not a direct lender, depository institution, financial advisor, or tax professional. Content in this article is general market analysis and educational information — not financial, legal, or tax advice for any specific situation. Lendmire does not guarantee loan approval; every transaction is subject to underwriting by the funding lender. Mortgage pricing and loan program guidelines are subject to change at any time without notice and vary by borrower characteristics, property type, and state regulations. Lendmire complies with Equal Housing Opportunity. Licensure verification: NMLS Consumer Access.