The Quick Read: It depends on the loan size and the property, but 680 to 720 is the working range for most jumbo files through select wholesale programs, subject to full underwriting. Pricing and available terms vary by lender, borrower profile, property type, and full underwriting review. The best leverage requires the top tiers.
- The entry floor is 660 on the portfolio program and 680 on the bank program.
- Above the super-jumbo line, the floor is 700.
- Leverage steps down as the loan grows, and the credit needed for the top cell steps up through $4,000,000.
- Past $4,000,000, every file is reviewed case by case before submission.
- A stronger score can offset thin leverage, but it cannot rescue a thin asset pool.
If you have plenty of investable assets but traditional personal-income documentation that understates your income, you are the borrower these programs were built for. Your balance sheet drives lender review instead of your tax return. That puts more weight on your credit file, and this article shows how much.
How Does an Asset Depletion Jumbo Loan Work?
The lender turns your liquid assets into a modeled monthly income and compares it to the new loan. You do not sell anything. The income is hypothetical.
The OCC describes the practice as using assets to calculate a hypothetical annuity stream that is added to other income. It also leaves each bank to set its own policy. That is why no federal minimum credit score exists, and why programs differ.
Across our wholesale network, two asset paths carry most of these files:
- Asset allowance. Liquid assets are divided by 36, 60 or 84 months. The 36-month divisor applies when the asset income supplements other income and debt-to-income stays at or below 60% before the asset income is counted. The 60-month divisor applies when that ratio runs above 60%. The 84-month divisor applies to standalone use, or to any loan above $3,500,000. It is for primary and second homes only, at up to 80% leverage.
- Assets-only. There is no debt-to-income test. Your U.S. liquid assets must equal the loan amount, plus closing costs, plus sixty months of any net loss on other residential property. Leverage, reserves, and pricing vary by lender and program; the final terms follow the full file review.
Retirement accounts typically count at 70%, or 80% once you are 59½ or older. Business funds, gifts, unvested stock and cryptocurrency never count. Trusts count only if they are revocable living trusts.
Why Does Credit Matter More on This Loan?
Because the income is calculated, not read off a tax return, the lender leans on your credit history to judge how you handle obligations.
Assets are verified from statements. Credit is verified from the report. When both are strong, the file is easy to read. When one is thin, the other carries more weight.
Business-purpose investor loans are reviewed differently from a standard owner-occupied mortgage. The asset paths above apply to primary and second homes. For a rental, the cleaner route is often a property-cash-flow loan, which is covered in Lendmire’s complete DSCR loans guide.
What Are the Credit Score Tiers by Loan Size?
The floor is the lowest score a program will look at. The tier is the score that unlocks the top leverage in a band. On a primary residence, through select wholesale programs and subject to full underwriting, the ladder looks like this on a purchase:
| Loan size | Max purchase LTV | Credit for this leverage |
|---|---|---|
| $300K–$1M | 90% | 680+ |
| $1M–$1.5M | 85% | 700+ |
| $1.5M–$2M | 85% | 720+ |
| $2M–$3M | 80% | 720+ |
| $3M–$3.5M | 75% | 720+ |
| $3.5M–$4M | 75% | 760+ |
| $4M–$5M | 65% (on review) | 700+ (above the super-jumbo line) |
The figures are ceilings on a primary residence purchase. Cash-out runs lower at every size, topping out at 80%. Second homes and investment property take their own ladders, which run lower than the primary figures at most sizes.
Above $4,000,000, the bank portfolio program takes over on its own ladder: 65% to $5,000,000, 60% to $10,000,000 and 55% to $30,000,000. Every figure at that size is reviewed case by case before submission.
Notice the oddity. The $3.5M to $4M band asks for 760 to reach its top cell, while the band above it sits at a much lower leverage ceiling. The bank program has its own structure, so the best cell steps down in leverage as the loan grows. A lower score takes a lower leverage cell inside the same band.
What Do Underwriters Check Beyond the Score?
The number is only the first screen. Here is what else gets reviewed on a super-jumbo file, defined as above $3,500,000 on a primary residence or above $3,000,000 on a second home or investment property:
- 700 credit floor. This applies to every borrower on the file.
- Housing history of 0x30x24. That means no 30-day mortgage lates in the last 24 months.
- 48-month seasoning on any credit event. Seasoning is the waiting period after a foreclosure, bankruptcy or similar event.
- Eligibility. U.S. citizens and permanent residents only, with no non-occupant co-borrowers.
- Cash-out proceeds cannot satisfy reserves. Reserves must come from your own liquid funds.
Reserves are the cash left after closing. Typical requirements run 3 months up to $500,000, 6 months up to $1,500,000 and 9 months above that. Each additional financed property adds 2 months, up to a 12-month maximum. First-time investors need 12 months.
Debt-to-income can run up to 50% on most files. That means your monthly debts, including the new loan, are compared against your qualifying income.
Which Score Do Lenders Use?
Lenders pull a report for each borrower and generally qualify the file on the middle score. On a joint file, the lower borrower’s score typically sets the tier. Adding a spouse with weaker credit can cost you a leverage band. Applying alone, when your assets are in your own name, can help.
How Does a Score Change the Same Deal?
Run the numbers on a borrower buying a $2,000,000 primary residence with strong liquid assets, held constant in all three cases. Everything below is a modeled illustration through select wholesale programs, subject to full underwriting.
- Score of 740. The 720+ tier is open. Purchase leverage can reach 85% at this size, and the asset path and reserves are the main review items.
- Score of 705. The $1M to $1.5M tier is within reach, but the $1.5M to $2M tier asks for 720. The file may need lower leverage, meaning a larger down payment.
- Score of 675. Below the 680 tier and under the 700 super-jumbo floor. This borrower is looking at the portfolio program’s 660 floor with much lower leverage, or at fixing the score first.
Same assets, same house. The only variable is the score, and it moves leverage by several points. On a loan this size, those points mean a meaningful change in cash to close.
Can Strong Assets Make Up for a Lower Score?
Sometimes, within limits. A deeper asset pool, more reserves, or a bigger down payment can offset a score that sits just below a tier.
What does not work is stretching both. A borderline score with borderline assets and maximum leverage is a file that gets declined. The honest read: pick which lever you will pull and push it hard.
The CFPB’s Ability-to-Repay guide lists credit history among eight factors a lender weighs and says assets must be verified with reliable third-party records. So a stronger asset file does not skip credit review. It sits next to it.
What If Your Score Is Below the Line?
You have four practical moves:
1. Pay down revolving balances. Utilization moves scores faster than almost anything else, and it can change within a billing cycle or two.
2. Dispute genuine errors. Do this early, since corrections take time to post.
3. Hold off on new credit. Every inquiry and new account works against you before an application.
4. Choose a different path. If the score will not reach the tier, a lower-leverage request may work. For a rental purchase, a property-cash-flow loan may fit better, since the property’s rent carries the file. Lendmire’s piece Minimum Credit Score an Asset Depletion Lender Accepts goes deeper on the floor.
A recent credit event is a separate problem. The super-jumbo overlays above require 48 months of seasoning. Lenders set their own waiting periods, so the clock matters more than the score.
A 90-Day Pre-Application Checklist
- 90 days out: pull all three reports, list errors, and start disputes.
- 60 days out: pay revolving balances down and avoid new accounts.
- 30 days out: gather consecutive statements for every asset account, and source any large deposits.
- Before applying: decide whether you are applying alone or jointly, and ask which divisor and haircuts the program uses.
Tax treatment can depend on how the funds are used and how the property is held. Keep clear records and speak with a qualified tax professional before relying on any deduction.
Key Terms Defined
- Asset depletion: a method that converts liquid assets into modeled monthly income.
- Divisor: the number of months the asset pool is spread across.
- Seasoning: the waiting period after a credit event or a purchase.
- Reserves: cash you keep after closing to cover payments.
- LTV: loan-to-value, the loan as a percentage of the property’s value.
- Super jumbo: a loan above the high-balance size where overlays tighten, here $3,500,000 on a primary residence.
Frequently Asked Questions
What is the lowest credit score for an asset depletion jumbo loan?
On the portfolio program the floor is 660, and on the bank program it is 680. Both rise to 700 above the super-jumbo line. Those are floors, not the scores that unlock strong leverage, and everything is subject to full underwriting.
Does a higher score allow a bigger loan?
Not by itself, but it unlocks leverage at each size. At $3.5M to $4M on a primary residence, the top ladder cell requires 760. Market surveys report floors from roughly 620 to 720 across lenders. Through our network, use the figures above.
Can a bankruptcy or foreclosure disqualify me?
Lenders set waiting periods by program. On super-jumbo files, the overlay is 48 months of seasoning on any credit event. Within that window, the file typically cannot proceed.
Does a joint application help?
Not if the second borrower has weaker credit, because the lower score typically sets the tier. Applying with a stronger co-borrower can help only when that person’s score is the one that counts.
Do I have to sell my assets?
No. The income is a model, not a withdrawal. It is a hypothetical stream, so your portfolio stays invested.
If you are financing a high-balance property on your assets rather than income documents and want to see how the numbers work, Lendmire can help you compare super jumbo asset-qualification options based on your liquid assets, the property, credit profile, leverage, and your goals.
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), a non-QM mortgage broker serving investors in 41 markets including Washington, D.C., helps structure DSCR scenarios commonly evaluated around a property’s rental income rather than personal income paperwork, subject to lender guidelines. A Scotsman Guide Top Mortgage Workplace in 2025 and 2026, Lendmire places loans through wholesale investor lenders and is not a direct lender.
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References
2. 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 High a Credit Score Does a Super Jumbo Bank Statement Second-Home Loan Need? · How an Asset Depletion Loan Works · Asset Depletion vs Bank Statements vs DSCR on a Super Jumbo
Brandon Miller
Founder & CEO, Mortgage Loan Originator, Lendmire LLC
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Disclosures. The information presented in this article is general market commentary, not financial, legal, or tax advice. Lendmire is a mortgage brokerage (NMLS# 2371349) — not a direct lender or depository institution — and loan placement is subject to lender underwriting. Nothing in this content represents a commitment to lend. Loan terms, pricing, and program availability vary based on borrower qualifications, property characteristics, and state of subject property, and are subject to change at any time. Lendmire complies with Equal Housing Opportunity requirements. Consumer access: nmlsconsumeraccess.org.