The Quick Read: It depends on three limits, and the lowest one wins: the income your assets produce, the program’s size ceiling, and a loan-to-value (LTV) cap, which is the share of the price a lender will finance. Across Lendmire’s wholesale network, loans run from $300,000 to $30,000,000 through select programs, subject to full underwriting. Every file above $4,000,000 is reviewed case by case before submission. Each figure is subject to lender guidelines and a complete review of property type, leverage, and credit.
- Two programs set the ceiling. A portfolio non-QM program carries files to $6,000,000. A bank portfolio program, which begins above $4,000,000 and overlaps the first, carries twelve-month-statement files to $30,000,000.
- Leverage generally falls as the loan grows, but not in a straight line. Where one program hands off to the other, the best available cell can step back up, so read the ladder band by band.
- Your assets must clear a divisor. Qualifying income comes from liquid assets divided by 36, 60 or 84 months. The 84-month divisor applies to any loan above $3,500,000.
- Rentals follow different rules. The asset allowance path is limited to primary and second homes, so most rental purchases run on property cash flow instead.
What Does “Jumbo” Mean Here?
A jumbo loan is any mortgage above the local conforming limit. The baseline limit for a one-unit home is $832,750, and the high-cost-area ceiling is $1,249,125, according to Asurity’s summary of the conforming limits. Anything above the limit that applies to your county is jumbo. Jumbo loans sit outside the agency-backed framework, which is why each program sets its own rules.
“Asset depletion” is a loose term, and it trips people up. Here it means a way of qualifying: the lender converts your liquid assets into a monthly income figure. It does not mean spending your savings on the purchase. You keep the assets and they stay invested. The math is a qualifying convention, not a withdrawal plan.
Many borrowers who use this path are high-net-worth people whose traditional personal-income documentation understates what they can carry. Think founders, physicians, attorneys, retirees and investors with large portfolios and modest reported income.
How Do Assets Become Qualifying Income?
The lender takes your eligible liquid assets, subtracts what you need at closing, and divides the remainder by a set number of months. The result counts as monthly income. That income goes into your debt-to-income (DTI) ratio, which compares monthly debts to monthly income, alongside any other income you have.
Four details drive the number.
Not every asset counts. Across the programs we place files with, retirement accounts count at 70% of value, or 80% once you reach 59.5. Business funds, gifts, trusts other than a revocable living trust, unvested stock and cryptocurrency never count. Large recent deposits usually need a paper trail.
Closing funds come off first. Down payment, closing costs and required reserves leave the pool before any division. A bigger down payment shrinks your income. This is the step most borrowers forget.
The divisor is the main lever. Through select wholesale programs, the asset allowance path uses three divisors:
- 36 months, when assets supplement other income and the file’s DTI before the asset income is at or below 60%.
- 60 months, when assets supplement other income and that pre-asset DTI runs above 60%.
- 84 months, when assets stand alone, or on any loan above $3,500,000.
A longer divisor shrinks income in proportion. Moving from 36 months to 84 cuts the imputed income to roughly 43% of what the shorter divisor gives. Moving from 60 to 84 leaves about 71%. Same portfolio, very different borrowing power.
The asset allowance path caps leverage at 80%. It is available only on primary and second homes. Leverage, reserves, and pricing vary by lender and program; the final terms follow the full file review.
What Are the Three Gates That Set Your Maximum?
Every file passes three gates. The tightest one sets your number, and it changes with the deal.
| Gate | What it limits | Where it usually binds |
|---|---|---|
| Asset income | Loan size your DTI can carry | Smaller portfolios, many existing mortgages |
| Program ceiling | Absolute loan amount | Above $6,000,000 on the portfolio program |
| LTV ladder | Share of price financed | Large loans, second homes, rentals |
Gate one is the income math. Your imputed income has to carry the new payment plus existing debts within the program’s DTI limit, which depends on the path and the file. A borrower with many financed rentals can find the capacity already spent. Payments on those loans count against you before the new loan is sized.
Gate two is the program ceiling. The portfolio program stops at $6,000,000. The bank program overlaps it from $4,000,000 and stands alone above $6,000,000, reaching $30,000,000. Never assume one lender’s ceiling is the network’s.
Gate three is the LTV ladder, and it surprises people most. Lenders generally finance a smaller share of the price as balances rise. A buyer can have plenty of assets and still be limited by a 60% cap on a large purchase.
How Much Can You Borrow at Each Size?
Here are the typical ceilings on a purchase, by loan size and occupancy. Every figure is a ceiling through select wholesale programs, subject to full underwriting, and files above $4,000,000 are always reviewed case by case.
| Loan size | Primary residence purchase | Investment property purchase |
|---|---|---|
| Up to $1M | 90% | 85% |
| $1M–$2M | 85% | 80% |
| $2M–$3M | 80% | 80%, then 75% above $2.5M |
| $3M–$4M | 75% (top credit tier) | 60% |
| $4M–$5M | 65% on review | 65% on review |
| $5M–$10M | 60% on review | 55% on review |
| $10M–$30M | 55% on review | 50% on review |
Read the table band by band, not as one steady slope. On an investment property, the $3M–$4M cell is set at 60%. The $4M–$5M cell comes from the portfolio program with super-jumbo overlays, which allows 65% on a purchase on review, but only with credit near the top of the range. A lower score takes a lower cell in the same band.
Second homes run lower than the primary-residence column at most sizes, and each band has its own second-home figure. Cash-out ceilings sit lower again, topping out at 80% on a primary residence at $1,000,000 and under. On the portfolio program, cash in hand is capped at $1,500,000 once LTV passes 60%.
A 90% purchase is never available above $1,000,000. Anyone promising it is describing a different product.
Worked Examples: Where the Binding Gate Shifts
These examples use ratios and percentages only, and they are modeled for illustration, not market data.
Run the numbers on a retiree buying a primary residence with a large brokerage account and no pension. She has no other income, so the 84-month divisor applies. Her imputed income is the lowest of the three divisor options. DTI is the binding gate. A bigger down payment is a trade-off here: it lowers the loan, but it also shrinks the pool that produces her income, so the gain is smaller than it first looks.
Consider a founder with a business that pays him modest traditional employment income. His assets are strong, and his DTI before the asset income sits below 60%. The 36-month divisor produces about 2.3 times the income of the 84-month divisor. Because that path supplements his other income, the gate that binds moves away from DTI and toward the LTV ladder.
Now flip the question. Start from a target loan and work backward. The assets-only path requires no DTI calculation at all. It asks for U.S. liquid assets equal to the loan amount, plus closing costs, plus sixty months of any net loss on other residential property. A borrower targeting $3,000,000 therefore needs liquid assets above $3,000,000 before reserves. The binding gate is liquidity itself.
Last, an investor with a big portfolio and several financed rentals. The asset allowance path is limited to primary and second homes, so a new rental purchase usually moves to a DSCR structure. The assets then serve as reserves, not as the qualifying income.
Across the files we see, the common mistake is quoting the loan a portfolio could support without subtracting reserves, closing funds and the haircuts. Borrowers who ask for their qualifying income under each divisor before they shop for a property avoid most of the disappointment.
Which Occupancy Types Work for Asset Depletion?
Asset allowance works for primary and second homes. It does not apply to investment property. The assets-only path has its own occupancy rules, so confirm them against the specific program before you offer on a rental.
Asset depletion qualifies the person on modeled income. A DSCR loan is reviewed for the property on rent against the payment. They answer different questions. Many investors keep both options in mind, and Lendmire’s complete DSCR loans guide explains the property-based side.
One more point on loan purpose. 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. The CFPB’s Regulation Z commentary treats credit for non-owner-occupied rental property as business purpose. The same commentary says the treatment changes if the owner expects to occupy the property more than 14 days in the coming year.
Why Do Ceilings Differ So Much Across the Market?
Published ceilings run from the low seven figures to eight figures, and nothing federal explains the gap. The CFPB’s compliance guide for the ability-to-repay rule says the rule lists factors a lender must consider but does not dictate particular underwriting models. Each lender picks its own divisor, haircuts, LTV ladder and overlays.
So the same portfolio can support very different loans at different lenders. A broker that sees many programs can compare them side by side. A single lender’s page can only show its own rules.
Agency-style math uses a far longer divisor than most non-QM programs. That is why a true jumbo borrower is usually steered toward portfolio and non-QM channels.
What If Your Target Loan Is Above the Maximum?
You have several moves, and they often work in combination.
- Increase the down payment. This lowers the loan and the LTV pressure, though it also shrinks the asset pool that produces income.
- Add other income. A supplemental path with a shorter divisor can produce more qualifying income than assets alone.
- Use bank statements. Twelve or 24 months of deposits, after an expense ratio, can qualify a self-employed borrower.
- Pay down existing debts. Lower obligations free up DTI room.
- Move to a different program. The bank program carries larger balances than the portfolio program, with its own ladder and review.
Tax treatment can depend on how the funds are used and how the property is held; investors should keep clear records and speak with a qualified tax professional before relying on any deduction.
Who Is This Not For?
Asset depletion is a poor fit in a few situations:
- Most of your wealth is illiquid. Real estate equity, private business interests and unvested stock do not count.
- Your holdings are concentrated or volatile. Haircuts and review intensity increase, and cryptocurrency does not count at all.
- You are buying a pure rental. Property cash flow is usually the better-matched yardstick.
- You are not a U.S. citizen or permanent resident. Super-jumbo overlays above $3,500,000 on a primary residence, and $3,000,000 on a second home or investment property, limit borrowers to citizens and permanent residents.
Those overlays also bring a 700 credit floor, a 0x30x24 housing history and 48-month seasoning on any credit event. They exclude non-occupant co-borrowers and rural property. Cash-out proceeds cannot satisfy reserves.
Key Terms Defined
Asset depletion: a qualifying method that turns liquid assets into modeled monthly income without requiring you to sell them.
Divisor: the number of months the lender spreads your qualifying assets across. A longer divisor means less income.
Haircut: a discount applied to an asset because it is less stable or less accessible, such as a retirement account counted at 70%.
LTV (loan-to-value): the loan amount divided by the property’s price or value.
DTI (debt-to-income): your monthly debts divided by your monthly income.
Reserves: liquid funds you must keep after closing. Through select programs that is 3 months to $500,000, 6 months to $1,500,000 and 9 months above, plus 2 months per additional financed property, up to 12.
Super jumbo: a loan above roughly $3,000,000 to $3,500,000 on this program, where credit and documentation overlays tighten.
Frequently Asked Questions
Is there a minimum loan size?
Yes. Through select wholesale programs in Lendmire’s network, the floor is $300,000, and the network runs from there to $30,000,000. Loans under $300,000 fall outside this structure. Pricing and available terms vary by lender, borrower profile, property type, and full underwriting review.
What credit score do I need?
Typically 660 on the portfolio program and 680 on the bank program, with 700 required above the super-jumbo line. Leverage tiers add their own credit levels, often 700 to 760 at the larger sizes. These are guidelines through select wholesale programs, subject to full underwriting.
Do retirement accounts and crypto count?
Retirement accounts count, at 70% of value, or 80% once you reach 59.5. Cryptocurrency never counts. Business funds, gifts and most trusts do not count either.
Can I combine asset income with other income?
Yes. Under the asset allowance path, assets supplement other income, and the divisor is 36 months when the pre-asset DTI is at or below 60%, or 60 months above. Standalone asset math uses 84 months.
Does asset depletion work for investment property?
Not on the asset allowance path, which covers primary and second homes only. A rental purchase generally qualifies primarily on property-level rental income covering the payment, subject to lender guidelines. Some select lenders in the network will review coverage below 1.00, though leverage and terms adjust.
Next Step
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. Consumer mortgage lending through Lendmire is licensed in 16 states: AL, CA, CO, FL, GA, IN, MI, MT, NM, NC, OH, PA, TN, TX, VA and WA. Reach the team at 828-256-2183 or use the quote request page. All programs described here are through select wholesale programs, subject to full underwriting, and are not a commitment to lend.
The larger the loan, the more the answer turns on the individual file: your liquid assets, the property and your leverage.
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 is a non-QM mortgage brokerage (NMLS# 2371349) arranging DSCR investor loans in 41 markets, including Washington, D.C., through wholesale and investor-lending channels. DSCR loans are evaluated by the lender on rental income rather than personal income, subject to lender guidelines — a fit for LLC-owned portfolios, self-employed investors, and operators scaling beyond conventional loan caps. Recognized as a Scotsman Guide Top Mortgage Workplace in 2025 and 2026.
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References
1. Asurity — conforming loan limits summary
2. CFPB — Regulation Z § 1026.3, Exempt transactions
3. 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 to Get a Super Jumbo Bank Statement Loan Without Moving Your AUM · How to Take Out a Pledged Asset Line With a Super Jumbo Bank Statement Loan · How to Qualify for a Super Jumbo Loan as a Trust Beneficiary
Brandon Miller
Founder & CEO, Mortgage Loan Originator, Lendmire LLC
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- North Carolina Insurance Producer · License# 19053198 · Property, Casualty, Life, Health · Verify on NAIC SBS
- Lendmire LLC · Firm NMLS# 2371349 · Verify firm licensure
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.