The Quick Read: You qualify by proving income through twelve or twenty-four consecutive months of bank statements instead of traditional personal-income documentation, then fitting the loan-size tier’s limits on leverage, credit, and reserves. Every file is reviewed individually, through select wholesale programs and subject to full underwriting. The underwriter removes ineligible deposits, applies an expense ratio to business accounts, and tests the result against your total debts.
- Documentation: 12 or 24 consecutive months of personal or business statements, typically on files from $300,000 to $30,000,000.
- Credit and debt: a 660 floor on the portfolio non-QM program, 680 on the bank portfolio program, and 700 above the super-jumbo line, with debt-to-income up to 50%.
- Reserves: typically 3, 6, or 9 months, depending on loan size.
- Leverage: set by loan size and occupancy, and every loan above $4,000,000 is reviewed case by case before submission.
Key Terms Defined
Private-bank client: a borrower whose banking, investing, and lending sit with one wealth-focused institution. It is a market term, not a regulated tier.
Super jumbo: a loan above the standard conforming limit and above whatever line a given lender draws. The FHFA sets the conforming limit that defines “jumbo.” No law sets the “super” threshold.
Bank statement loan: a non-QM mortgage that measures income from deposits in your bank accounts instead of traditional personal-income documentation. Non-QM means the loan falls outside the standard rules that agency-style mortgages follow.
Eligible deposit: a deposit that represents real income from your work or business, not a transfer or one-time credit.
Expense ratio: the share of business deposits the underwriter assumes goes to operating costs, so it does not count as income.
Reserves: liquid money left over after closing, measured in months of the housing payment.
Seasoning: how long a credit event, such as a foreclosure, must be in the past.
Asset allowance: a path that converts liquid assets into monthly qualifying income.
Why Does a Private-Bank Client Need a Different Path?
A private-bank client usually hits a wall when income documentation, loan size, or property type do not fit the bank’s box. The wall is rarely about wealth. It is about how that wealth shows up on paper.
Private banks typically keep the loan on their own books and underwrite the whole relationship. That works well for a clean, fully documented borrower. It works poorly for a founder, physician, attorney, entertainer, or investor whose write-offs make taxable income look small next to actual cash flow.
A bank statement program asks a different question. It looks at what came into your accounts instead of what your return reported. The mortgage still gets underwritten in full. Only the income measurement changes.
You do not have to give up your private bank to use one. A private-bank mortgage cannot be transferred, so moving it means a refinance, or a new purchase loan in place of the bank’s offer. The statements come from wherever your accounts sit. You may lose relationship benefits, so weigh that before you move.
Across the wholesale network Lendmire places files with, the strongest private-client files share three traits. The deposits are clean and consistent, the borrower can document where the money came from, and the reserves sit in accounts that are easy to verify.
How Do Statements Turn Into Qualifying Income?
Underwriters average your eligible deposits over the statement window, subtract an expense ratio if the account is a business, and test the result against your debts. Scotsman Guide’s non-QM coverage describes the same basic scenario: 12 to 24 months of personal or business statements, with an expense factor applied.
Here is the sequence, step by step:
1. Choose the account. Pick the personal or business account that best reflects your real cash flow. Do not mix household and business flows in one submission.
2. Pull consecutive statements. Send every page of every month. Transaction histories never substitute for statements.
3. Strip ineligible deposits. Transfers between your own accounts, loan proceeds, refunds, gifts, and one-time credits come out.
4. Apply the expense ratio. Business statements take one. Personal-account deposits generally do not, provided the source is clear.
5. Average over the window. Eligible deposits divided by the number of statement months gives monthly qualifying income.
6. Run debt-to-income. The underwriter measures your total monthly debts against that income, up to 50% on most files through select wholesale programs, subject to full underwriting.
The expense ratio moves the answer more than anything else. Across the programs we see, the fixed options step up with business size and type: 20% for a service business with no employees, 40% for one to five employees, and 50% for six or more employees or any product business. An accountant-provided ratio can replace the fixed one, and a profit-and-loss method exists but is capped at 80%. Those fixed ratios are program conventions, not a universal rule, and they vary by lender and documentation.
Run the same deposits through each ratio to see the effect. These are modeled shares of average monthly eligible deposits, not a quote.
- At a 20% ratio, qualifying income is 80% of average monthly eligible deposits.
- At 40%, it is 60%.
- At 50%, it is 50%.
Business statements also require at least 25% ownership of the business. If you own half, the underwriter counts your share.
One more detail helps private-client files. Transfers from your own business into your personal account count at 100%. That makes personal statements the cleaner route when you pay yourself regularly from an operating company.
Which of Your Deposits Count?
Only deposits that represent your income count. A lender still has to verify the income it relies on, and the CFPB’s ability-to-repay guide says a creditor generally must use reasonably reliable third-party records. That is why transfers and non-income credits get stripped. Non-QM changes how income is measured, not whether it is verified.
Private-client accounts carry more movement than most. This table shows how each type is usually treated.
| Deposit type | Usually treated as | What helps |
|---|---|---|
| Pay from your own business | Income, counted at 100% | Business ownership documents |
| Transfers between your accounts | Not income | Matching statements from both |
| Brokerage or trust transfers | Asset movement, not income | Asset statements for reserves |
| Loan proceeds, refunds, gifts | Removed | A written explanation |
| One-time windfall | Removed or reviewed | Sale or settlement paperwork |
| Large unexplained deposit | Sourced before it counts | Third-party records |
A declining trend in recent months can shorten the review window or lead to a more conservative calculation. Consistency matters more than any single big month.
Personal or Business Statements, and 12 or 24 Months?
Pick the option that shows the strongest honest picture of your cash flow. Both sets of statements must be consecutive and complete.
| Choice | Best when | Watch for |
|---|---|---|
| Personal statements | You pay yourself regularly | Mixed household flows |
| Business statements | Deposits stay in the company | 25% minimum ownership |
| 12 months | Recent income is your peak | Required on the bank program |
| 24 months | Income is lumpy year to year | A weak early period |
A longer window smooths spikes, and a shorter one favors recent growth. The portfolio non-QM program offers both windows. The bank portfolio program uses 12.
What Changes as the Loan Gets Bigger?
Leverage steps down as the balance grows, and review gets more hands-on. Two programs sit behind these numbers. The portfolio non-QM program carries files up to $6,000,000. The bank portfolio program takes twelve-month-statement files up to $30,000,000 on its own size ladder, which begins above $4,000,000 and overlaps the first program to $6,000,000. Above $6,000,000 it stands alone.
This table shows typical purchase ceilings on a primary residence, through select wholesale programs and subject to full underwriting.
| Loan size | Purchase LTV ceiling, primary residence | Credit for this leverage |
|---|---|---|
| Up to $1,000,000 | 90% | 680+ |
| $1,000,000 to $1,500,000 | 85% | 700+ |
| $1,500,000 to $2,000,000 | 85% | 720+ |
| $2,000,000 to $3,000,000 | 80% | 720+ |
| $3,000,000 to $3,500,000 | 75% | 720+ |
| $3,500,000 to $4,000,000 | 75% (portfolio program, super-jumbo overlays) | 760+ |
| $4,000,000 to $5,000,000 | 65%, on review (bank program) | 680+ |
| $5,000,000 to $10,000,000 | 60%, on review (bank program) | 680+ |
| $10,000,000 to $30,000,000 | 55%, on review (bank program) | 680+ |
The credit figure in each row is the score that row’s top leverage needs, not a program floor. The floors are 660 on the portfolio program, 680 on the bank program, and 700 above the super-jumbo line. A lower score takes a lower leverage cell inside the same band.
Second homes and investment properties take their own ladders, and their purchase ceilings run lower than the primary figure in most bands. Read each figure from the occupancy’s own ladder rather than adjusting the primary number. Cash-out ceilings sit lower again, and on a primary residence the best cash-out ceiling is 80%. On the portfolio non-QM program, cash-out above 60% LTV is capped at $1,500,000 in cash in hand. Interest-only structures reach 85% LTV with a 700 credit floor on purchase and rate-and-term files on that program, and 60% on the bank program. Interest-only never raises a cash-out ceiling. Every figure here varies by lender and program, and guidelines, property type, leverage, and credit profile all apply.
Above $4,000,000 everything is reviewed case by case before submission, so treat any figure at that size as a starting point. Package the file before it goes in: statements, entity documents, asset statements, and a short written explanation of any unusual deposits.
Super-jumbo overlays begin above $3,500,000 on a primary residence and above $3,000,000 on a second home or investment property. At that point the typical file needs:
- a 700 credit floor
- a clean housing history (0x30x24)
- 48 months of seasoning on any credit event
- U.S. citizen or permanent resident borrowers
- no non-occupant co-borrowers
- no rural property, and acreage of ten acres at most
- no use of cash-out proceeds to satisfy reserves
Where Do Reserves Come From?
Reserves typically run 3 months to $500,000, 6 months to $1,500,000, and 9 months above that, through select wholesale programs and subject to full underwriting. Each additional financed property adds 2 months, up to a 12-month maximum. First-time investors typically need 12.
Wealthy borrowers often hold their wealth in brokerage accounts, retirement funds, trusts, or business accounts. Those do not all count the same way. Retirement accounts count at 70%, or 80% at age 59.5 and older. Business funds, gifts, unvested stock, cryptocurrency, and trusts other than a revocable living trust do not count. Cash-out proceeds from the subject loan cannot satisfy reserves on super-jumbo files.
When Deposits Are Lumpy, Use the Asset Paths
If your deposits look uneven, your assets can carry the file instead. The asset allowance converts liquid assets into monthly qualifying income by dividing them over 36, 60, or 84 months. The 36-month divisor is for supplemental use when debt-to-income before the asset income is at or below 60%. The 60-month divisor applies when that pre-asset ratio is above 60%. The 84-month divisor is for standalone use, or any loan above $3,500,000. In every case the ratio with the asset income counted must still fit the 50% ceiling. The path applies to primary and second homes only, up to 80% LTV. Final terms depend on lender guidelines, property type, leverage, and the borrower’s complete credit picture.
The assets-only path uses no debt-to-income test. It requires U.S. liquid assets equal to the loan amount plus closing costs plus sixty months of any net loss on other residential property. Assets must stay in place through closing, because moving money between pre-approval and closing can sink the file.
Many borrowers with heavy write-offs show low taxable income. 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.
Private Bank or Bank Statement Loan?
A private bank wins when your file is clean, fully documented with traditional income records, and inside its size and property policies. A bank statement loan wins when your returns understate your cash flow or the property does not fit the bank’s box.
| Factor | Private bank | Bank statement loan |
|---|---|---|
| Income basis | Returns and relationship | Deposits or assets |
| Underwriting view | Whole relationship | The file itself |
| Property flexibility | Bank policy | Program by program |
| Shopping | One institution | Multiple wholesale programs |
A broker adds one advantage here. Lendmire compares many programs, so a lender that is strict on one point can be set aside for one that is flexible on it.
If the property is a luxury rental, there is a second choice. Lendmire’s complete DSCR loans guide explains that a DSCR loan is reviewed primarily on property-level rental income covering the payment, subject to lender guidelines. 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. A bank statement loan counts all of your debts in debt-to-income, while DSCR is reviewed on the property’s own income, so DSCR can leave room for more purchases.
Where the General Rule Breaks
- A business younger than 24 months. Some underwriters weigh liquid assets and credit alongside a shorter history. Expect a closer review.
- Blended income. W-2 wages plus a bank statement income stream can sit on one file. The rules care that income is verified, not what type it is.
- Foreign nationals. At the highest-balance tier, only U.S. citizens and permanent residents qualify.
- Rural or acreage property. Above the super-jumbo overlay lines, rural property is not eligible. Below them, rural is limited to ten acres or less, never above $3,000,000, and up to 80% LTV through select programs.
- Occupancy. A luxury home you use personally is not a DSCR file. Bank statement programs can cover primary homes, second homes, and rentals.
- Condos. Warrantable condos run to 85% and non-warrantable to 80%, subject to full underwriting. Every figure here varies by lender and program — guidelines, property type, leverage, and credit profile all apply.
Nothing about a private-bank relationship waives these rules. The underwriter sees your statements, not your banker’s opinion.
Document Checklist
- Complete consecutive statements for every account used, showing your name, the institution, and all pages
- Business ownership documents showing at least 25% ownership, if using business accounts
- An accountant letter or profit-and-loss statement if you want a different expense ratio
- Asset statements for reserves, in your name or a revocable living trust
- A written explanation of any large or unusual deposit
- Entity or trust documents if the property will be vested outside your personal name
- Photo identification and proof of citizenship or permanent residency
Frequently Asked Questions
Can a private-bank client keep their accounts at the private bank?
Yes. Statements and asset records can come from any institution. The mortgage is a separate loan, and a bank statement lender evaluates the accounts wherever they sit. The private bank’s own mortgage cannot be transferred, so moving the loan means a refinance or a new purchase loan.
Do business and personal statements get the same treatment?
No. Business deposits take an expense ratio and require at least 25% ownership. Personal deposits generally do not take one, as long as the source is clear. Transfers from your own business into a personal account count at 100%.
What credit score do I need at a super jumbo loan size?
Typically 660 on the portfolio non-QM program, 680 on the bank portfolio program, and 700 above the super-jumbo line. Higher-leverage cells need higher scores, up to 760 in some bands. Through select wholesale programs, subject to full underwriting.
Can I use cash-out proceeds to meet reserves?
Not on super-jumbo files. Cash-out proceeds cannot satisfy reserves above $3,500,000 on a primary residence or $3,000,000 on a second home or investment property.
What if my deposits are uneven?
An asset-based path may fit better. The asset allowance divides liquid assets over 36, 60, or 84 months, and the assets-only path requires liquid assets equal to the loan plus closing costs and sixty months of any net loss on other residential property.
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. Lendmire is a broker, and its consumer mortgage licensing covers 16 states: AL, CA, CO, FL, GA, IN, MI, MT, NM, NC, OH, PA, TN, TX, VA, and WA. Nothing here is a commitment to lend.
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.
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
1. FHFA, conforming loan limit values announcement
2. Scotsman Guide, Rev Up the Engine for Non-QM Lending
3. CFPB, Ability-to-Repay and Qualified Mortgage 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 Qualify as a Founder for a Super Jumbo Bank Statement Loan · Is a Super Jumbo Bank Statement Loan Available in California? · How to Document a Mixed-Income Super Jumbo Bank Statement Loan
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
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.