The Quick Read: A super jumbo loan limit is not one number. It is a stack of limits: maximum loan amount, maximum leverage at that amount, reserves, and a credit score, all set by the lender and the documentation path you choose. Through select wholesale programs, subject to full underwriting, loan sizes run from $300,000 to $30,000,000. Terms vary by lender guidelines, property type, leverage, credit profile, and full file review.
- No regulator defines “super jumbo.” Lenders draw the line, usually near $3 million.
- Leverage steps down as the balance rises, and everything above $4,000,000 is reviewed case by case before submission.
- Self-employed borrowers typically qualify on 12 or 24 months of bank deposits after an expense ratio, not on traditional personal-income documentation.
- Program credit floors are 660 on the portfolio program, 680 on the bank program, and 700 above the super jumbo line. Each size band also lists the score its top leverage needs.
- Investment property runs lower on leverage than a primary residence at most sizes, so read the investment ladder, not the primary one.
If you run a business, your tax return is built to shrink your income. Bank statements show what actually came in. That gap is why this corner of the mortgage market exists.
What Makes a Loan “Super Jumbo”?
Nobody official decides. The term is an industry label for very large balances, and most lenders use it for loans of roughly $3 million and up. Some start earlier. Some start later. The only hard line in the system sits below it, at the conforming limit.
The Federal Housing Finance Agency sets that conforming limit each year. For one-unit properties, the baseline is $832,750, up $26,250 from the prior figure, according to Calculated Risk’s summary of the FHFA release. High-cost counties can go as high as $1,249,125. The four-unit baseline is $1,601,750.
Above that limit, a loan is jumbo. Above a lender’s own comfort zone, it is super jumbo. Think of it as three zones:
| Zone | Who sets the edge | What changes |
|---|---|---|
| Conforming | FHFA, yearly | Agency-eligible |
| Jumbo | Conforming limit | Private capital funds it |
| Super jumbo | Each lender | Tighter leverage, credit, reserves |
Who Sets the Limit, and What Does It Actually Cap?
It does not cap what a private lender may make. HousingWire reports that the FHFA announces new limits each November and that the limit does not fall when home prices fall.
A high-cost county’s limit is set as a percentage of its local median home value, subject to a cap tied to the baseline limit. So “jumbo” is local. The same $1,000,000 loan can be conforming in one county and jumbo in another. Super jumbo thresholds are not county-sensitive in the same way, because they are lender-defined.
Once you are above the agency line, the lender decides how much risk it will hold. That is where the stack of limits begins.
The Four Limits That Apply to You
Across our wholesale network, four things move together as the loan grows. Change one and the others shift.
1. Loan amount. Two program families cover the range. A portfolio non-QM bank-statement program carries files to $6,000,000. A bank portfolio program carries twelve-month-statement files to $30,000,000 on its own ladder. That ladder begins above $4,000,000, overlaps the first program to $6,000,000, and stands alone above it.
2. Leverage. The maximum loan-to-value ratio (LTV, the loan as a share of the property’s value) falls as the balance rises, though it can step back up where the bank program takes over.
3. Reserves. Reserves are liquid cash left after closing, counted in months of payments. They typically run 3 months to $500,000, 6 months to $1,500,000, and 9 months above, subject to lender guidelines.
4. Credit. The program floors are 660 on the portfolio program, 680 on the bank program, and 700 above the super jumbo line. Inside each band, the best leverage asks for its own score, shown in the table below. A lower score takes a lower leverage cell in the same band.
Debt-to-income (DTI, your monthly debts divided by qualifying income) can run up to 50% on these programs.
Why Do Limits Tighten as Loans Grow?
A $5 million house takes longer to sell than a $500,000 one. The buyer pool is thin, and values are harder to pin down. So lenders ask for more cushion: more equity, more cash in the bank, stronger credit.
Here is how leverage steps down on a primary residence, through select wholesale programs, subject to underwriting:
| Loan size | Purchase LTV | Cash-out LTV | Credit for this leverage |
|---|---|---|---|
| $300K–$1M | 90% | 80% | 680+ |
| $1M–$2M | 85% | 80% to 75% | 700+ |
| $2M–$3M | 80% | 70% | 720+ |
| $3M–$3.5M | 75% | 65% | 720+ |
| $3.5M–$4M | 75% | 65% | 760+ |
| $4M–$5M, on review | 65% | 60% | 680+ |
Never assume 90% above $1,000,000. It does not exist on this ladder. Past $5,000,000, the bank program’s own steps run 60% to $10,000,000 and 55% to $30,000,000 on a purchase, again reviewed case by case.
Second homes and investment property take their own ladders, which run lower than the primary residence at most sizes. On an investment property purchase between $1,000,000 and $1,500,000, for example, the ceiling is 80%, not 85%. Investment loans here are business-purpose, which means they are reviewed differently from a standard owner-occupied mortgage.
How Self-Employed Income Turns Into Loan Size
The lender converts deposits into a monthly income figure, and that figure caps the payment you can carry. The steps are simple.
1. Pick a window. Twelve or 24 consecutive months of personal or business statements. The bank program uses 12.
2. Remove what is not income. Transfers between your own accounts and one-time deposits come out. Transfers from your business into your personal account count in full.
3. Apply an expense ratio to business-account deposits. The lender sets a fixed ratio based on your business type, with a lower ratio for a service business with no employees and higher ratios as headcount grows or for any product business. An accountant-provided ratio is another route. A profit-and-loss method is also capped.
4. Divide by the months in the window. That is qualifying monthly income.
5. Run DTI. Qualifying income is tested against the proposed payment plus your other debts, up to the program’s DTI limit.
The lender sets the ratio from your business type. You do not pick it. If you own at least 25% of the business, its statements can be used.
Picture a founder with a service business, no employees, and strong deposits. A 20% expense ratio leaves most of each deposit counted. Add a few employees and the ratio doubles, so the same deposits support a smaller loan. Same business, different payroll, different ceiling.
Wondering why your taxable income looks so small next to your deposits? The federal regulator’s own review of the mortgage rules notes that taxable income can understate real capacity for some borrowers. Alternative documentation is built for that gap.
Documentation Paths Compared
Bank statements are the main path, but not the only one. Each reaches a different borrower.
| Path | How income is measured | Notes |
|---|---|---|
| Bank statements | Deposits after expense ratio | 12 or 24 months |
| Profit-and-loss | P&L method | Capped at 80% |
| Asset allowance | Liquid assets ÷ 36, 60 or 84 | Primary and second homes |
| Assets-only | Liquidity vs. loan | No DTI |
| DSCR | Property rent vs. payment | Investment property |
Asset allowance divides liquid assets by 36 months for a supplemental file with a lighter debt load, 60 months for a supplemental file with a heavier one, or 84 months (standalone, or any loan above $3,500,000). Assets-only needs U.S. liquid assets equal to the loan amount plus closing costs plus sixty months of any net loss on other residential property. Retirement accounts count at 70%, or 80% at age 59.5 and up. Business funds, gifts, cryptocurrency and unvested stock never count.
For investors, the choice is between two yardsticks. A bank-statement loan asks whether you earn enough to carry the payment. A DSCR loan asks whether the property’s rent covers it, and qualifies primarily on property-level rental income covering the payment, subject to lender guidelines. Lendmire’s complete DSCR loans guide walks through that second path. Some DSCR programs in the network will review files below 1.00 coverage, though leverage and terms adjust.
What Happens Above the Standard Grid?
Above $4,000,000, every file is reviewed case by case before submission. That includes anything on the bank program’s upper rungs. The figures in the ladder are ceilings, not promises.
Overlays also tighten above $3,500,000 on a primary residence and $3,000,000 on a second home or investment property. Through select wholesale programs, they typically include:
- A 700 credit floor.
- A 0x30x24 housing history (no 30-day late payments in 24 months).
- 48 months of seasoning after any credit event.
- U.S. citizens and permanent residents only.
- No non-occupant co-borrowers.
- No rural property, and ten acres maximum.
- Cash-out proceeds cannot satisfy reserves.
Here is how a high-balance file typically gets prepared: 12 consecutive statements, a clean ownership record for the business, a reserve account seasoned in your own name, and an explanation for any large deposit. Statements must be consecutive. Transaction histories do not substitute.
A broker earns its keep here. One program may cap a file at 65%, another may want a higher credit score, and a third may reach further on leverage. Comparing them before submission is the whole job.
Purchase, Refinance and Cash-Out Differences
Cash-out is the tightest. On a primary residence, the best cash-out ceiling on the ladder is 80%, and it falls to 55% by the $5,000,000 to $6,000,000 band. On the portfolio program, proceeds are unlimited at or below 60% LTV. Above 60%, cash-in-hand is capped at $1,500,000. The bank program publishes no cap. Exact terms depend on the lender’s guidelines, property type, leverage, and a full review of the borrower’s file.
Interest-only is a structure, not a leverage bump. The portfolio program offers it to 85% LTV with a 700 floor, on a 40-year term with a ten-year interest-only period. The bank program allows it to 60% on adjustables with five- and seven-year fixed periods. Those figures apply to purchase and rate-term files and never raise a cash-out ceiling. Every figure here varies by lender and program — guidelines, property type, leverage, and credit profile all apply.
Property type matters too. Warrantable condos run to 85%, non-warrantable to 80%, and condotels to 75% on a purchase and 65% on cash-out (50% on the bank program). Two- to four-unit properties run to 85%. Second homes are one-unit only. Rural property reaches 80% on ten acres or less and never above $3,000,000. A Texas 50(a)(6) home-equity loan takes a five-point LTV reduction and stops at $3,000,000 on the portfolio program.
Reserves add up for portfolio owners. Expect 2 additional months per extra financed property, to a 12-month maximum. First-time investors typically need 12 months.
If You Hit a Ceiling
A declined size is not always a dead end. These are the usual levers, in order of how often they help:
- Add down payment. Dropping the balance by a band can lift the LTV cap.
- Switch documentation. A 24-month window or an accountant-provided expense ratio can raise qualifying income.
- Add liquidity. Assets can supplement income through the asset allowance.
- Change the program. The bank program’s ladder reaches higher sizes, with its own credit floor.
- Switch the yardstick. On an investment property with strong rent, a DSCR file removes personal DTI from the picture.
Common Mistakes
- Counting transfers between your own accounts as income. They come out.
- Assuming the expense ratio is negotiable. The lender sets it.
- Using business funds as reserves. Business funds never count.
- Moving money late and leaving unexplained deposits in the window.
- Treating a published ceiling as an offer. Tax treatment varies; consult a qualified professional about how loan proceeds are used.
Why Super Jumbo Lives in Non-QM
Most borrowers in this segment fall outside the agency box because of loan size, not weak credit. The federal regulator’s assessment of the mortgage rules observes that higher-DTI borrowers whose loans are not eligible for agency purchase, most commonly due to loan size, generally end up in non-QM. Non-QM does not mean subprime. It means the loan uses a documentation or structure outside the standard qualified-mortgage template.
Self-employment income is also explicitly allowed under the lending rules. The CFPB’s small-entity compliance guide lists self-employment among the employment types a lender may consider. And a lender verifies only the income or assets it relies on. Fewer documents does not mean no documents.
For a fuller walkthrough of the program, read Lendmire’s complete guide to the super jumbo self-employed mortgage.
Key Terms Defined
Non-QM: A loan that does not follow the standard qualified-mortgage template, often because of its documentation or structure.
Expense ratio: The share of business deposits treated as operating costs and removed before income is counted.
Reserves: Liquid funds left after closing, counted in months of payments.
Seasoning: The waiting period required after a credit event or before certain actions.
LTV: Loan-to-value, the loan amount as a share of the property’s value.
Frequently Asked Questions
Is there a maximum super jumbo loan amount?
Through select wholesale programs, loans run from $300,000 to $30,000,000. No single program covers the whole range. The portfolio program reaches $6,000,000, and the bank program carries twelve-month-statement files to $30,000,000. Everything above $4,000,000 is reviewed case by case before submission.
Do I need traditional personal-income documentation for a super jumbo loan?
Not on a bank-statement path. The file is reviewed on documented income under the applicable program, subject to lender guidelines, using 12 or 24 months of statements. Asset-based paths use liquid assets instead. A DSCR file looks at the property’s rent.
Does being self-employed lower my loan limit?
Not by itself. The ladder applies the same way to any borrower. What changes is how income is measured. An expense ratio of 20% to 50% on business deposits can reduce qualifying income, which can limit the payment you carry before the leverage cap does.
Do limits differ for second homes and investment property?
Yes. Each occupancy has its own ladder, and leverage generally runs lower than on a primary residence. Second homes are one-unit only. Investment property is business-purpose, and above $3,000,000 the stricter super jumbo overlays apply.
Why did a lender decline me above a certain size?
Usually one of the stacked limits bit: leverage for that band, a credit score, reserves, or qualifying income after the expense ratio. A different program or documentation path may fit better. Comparing programs before submission is how a broker typically finds the fit.
Reach the team at 828-256-2183 or request a quote. Consumer lending is available in 16 states. Programs change, every file is underwritten individually, and nothing here is a commitment to lend.
For current guidelines and terms, see Lendmire’s super jumbo bank statement loan programs page.
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 built around DSCR investor lending, with programs available in 41 markets, including Washington, D.C. DSCR lenders commonly evaluate rental-income coverage instead of personal income paperwork, a practical fit for LLC-owned and multi-property investors. Terms vary by lender, property, leverage, and program. Scotsman Guide named Lendmire a Top Mortgage Workplace in both 2025 and 2026.
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References
1. Calculated Risk, quoting the FHFA release
2. HousingWire, conforming loan limit coverage
3. CFPB: CFPB Ability to Repay Qualified Mortgage Assessment Report
4. CFPB ATR/QM small entity compliance guide
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 Super Jumbo Bank Statement Loan Valuation Checks Work on a Luxury STR · Jumbo Loan at Its Maximum vs Super Jumbo for a High-Value Home · Private Bank Mortgage vs Super Jumbo Bank Statement Loan for an AUM Client
Brandon Miller
Founder & CEO, Mortgage Loan Originator, Lendmire LLC
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Important disclosures. Lendmire (NMLS# 2371349) is a licensed mortgage brokerage. Lendmire is not a direct lender, depository institution, or financial advisor. All loan inquiries are subject to lender underwriting; this article does not constitute a commitment to lend. Rates, terms, and program guidelines are subject to change without notice and vary by borrower profile, property type, and state. Information in this article is general in nature and is not financial, legal, or tax advice. Equal Housing Opportunity. NMLS Consumer Access: nmlsconsumeraccess.org.