The Quick Read: A super jumbo loan for an attorney is a large non-QM mortgage that is reviewed on 12 or 24 months of bank deposits instead of traditional personal-income documentation. Leverage steps down as the loan grows, and every file above $4,000,000 is reviewed case by case, through select wholesale programs and subject to full underwriting.
- Income path: Deposits are divided by the statement months after an expense ratio. Draws moved from your firm into a personal account count in full.
- Size: Loans run from $300,000 to $30,000,000 across two wholesale programs, and no single program covers the whole range.
- Leverage: The best cell on a primary residence purchase starts at 90% for loans up to $1,000,000. It shrinks as the balance climbs.
- Still tested: Credit, debt-to-income up to 50%, reserves, and the property itself.
- Client money: Trust account funds are never your income.
Key Terms Defined
Jumbo loan: A mortgage larger than the conforming limit, which is the cap on loans the big mortgage agencies may buy.
Super jumbo: A lender-defined label for the largest jumbo balances. No government body draws that line.
Non-QM: A loan that does not fit the standard Qualified Mortgage checklist, usually because income is documented in a different way.
Bank statement documentation: Qualifying on consecutive months of account deposits rather than traditional personal-income documentation or pay stubs.
Reserves: Liquid savings left after closing, counted in months of housing payments.
Expense ratio: The share of business-account deposits removed before the rest counts as income.
IOLTA: A pooled attorney trust account that holds client money, which is separate from your own funds.
Business-purpose loan: A loan made primarily for investment or commercial use, such as a rental property, rather than a home you live in.
What Is a Super Jumbo Mortgage, and Who Draws the Line?
A super jumbo mortgage is a jumbo loan large enough that lenders treat it as its own tier. Nobody sets that tier by law. Each lender picks its own dollar line.
That matters because the label only tells you the loan is big. It tells you nothing about how the loan is qualified. Jumbo criteria run stricter than standard conforming rules, as NerdWallet’s explainer on conforming limits notes. Past a certain size, the tightening is steeper. A lender has less room to recover its money if a very expensive property has to be sold, so leverage drops and reserves rise.
Two wholesale programs cover the range Lendmire places. The first is a portfolio non-QM bank-statement program, called the portfolio program from here on. It carries files up to $6,000,000. The second is a bank portfolio jumbo program, called the bank program from here on. Its ladder begins above $4,000,000 on a primary residence and overlaps the portfolio program up to $6,000,000. Above $6,000,000 the bank program stands alone, carrying files to $30,000,000. Both are available through select wholesale programs, subject to full underwriting.
Why Does Attorney Income Look Smaller on Paper?
Attorney income often reads low on a tax return because of how law firms pay people. A tax return shows what is left after draws, retained earnings, retirement contributions and deductions. A bank statement shows what actually arrived.
Consider the common cases:
- Equity partners take draws, and a K-1 can show less than the cash that moved into a personal account.
- Solo practitioners run expenses through the practice, which shrinks the net figure.
- Contingency lawyers receive fees in lumps. One big settlement year can sit next to a thin one.
- Associates are the simplest case. Pay is steady, and a traditional file usually works.
Bank statement documentation reads the deposits. That is the whole reason attorneys with strong cash flow and modest taxable income end up on this path. Programs vary on details, so a partner whose firm pays draws into a personal account is a different file from a solo whose practice account receives fees.
How a Super Jumbo Mortgage Works for Attorneys, Step by Step
Underwriting follows the same sequence on most files across the wholesale network. Here is how it runs.
1. Pick the income method. You can use 12 or 24 consecutive months of personal or business statements. The bank program uses 12. Other paths exist: a profit-and-loss method capped at 80%, an asset allowance, or an assets-only path.
2. Pull consecutive statements. A gap breaks the file. A transaction history printout never substitutes for a statement.
3. Scrub the deposits. Transfers between your own accounts, loan proceeds, refunds and one-time items come out. Client trust money stays out of the file entirely.
4. Apply the expense ratio. Deposits into a personal account count at 100%. Deposits into a business account are reduced. The fixed ratios are 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 is also allowed. Business statements require at least 25% ownership.
5. Divide by the statement months. The result is monthly qualifying income. Contingency lumps get averaged, so a very large single deposit may draw questions.
6. Test debt-to-income, credit and reserves. Debt-to-income can run up to 50%. The floor is 660 credit on the portfolio program and 680 on the bank program. Above the super-jumbo line, the portfolio program wants 700.
7. Check leverage for the loan size. More on that below. The band is set by the loan amount, never the price.
8. Appraise the property. Lenders order an appraisal, and a rental also gets a rent schedule.
9. Review. Above $4,000,000 every file gets a case-by-case look before it is submitted.
Notice what the statements do and don’t do. They set your income. They do not set your cash-out amount, your reserves or your leverage. Those come from the ladder.
Which Attorney Type Hits Which Snag?
| Attorney type | Typical income method | Main sticking point |
|---|---|---|
| Equity partner | 12 or 24 months of personal deposits | Draws mixed with firm funds |
| Solo practitioner | Business statements, expense ratio | Ownership and ratio choice |
| Contingency lawyer | 24 months, averaged | Large single deposits |
| Senior associate | Traditional or personal statements | Bonus timing |
This table is a guide, not a ruling. Programs decide each case on its own facts.
What Happens With IOLTA and Client Trust Money?
Client money is not your income, and underwriting treats it that way. Under the ABA’s Model Rule 1.15, client funds must be kept apart from the lawyer’s own funds, and the American Bar Association’s IOLTA compliance guide describes IOLTA as the program built for those trust accounts. You hold the money as a custodian.
In practice, keep trust statements out of the income file. Pay yourself from the firm’s operating account into your personal account, and the personal deposits are what count. Commingled deposits are the real hazard. If client money and fee money land in one account, a reviewer cannot tell what is yours, and the file stalls or shrinks.
The same logic applies to your assets. Business funds, gifts, unvested stock and cryptocurrency never count toward the asset paths. Retirement accounts count at 70%, or 80% at age 59½ and over. Trusts other than a revocable living trust don’t count either.
Where Does Jumbo End and Super Jumbo Begin?
The conforming limit is the reference point. The current baseline for a one-unit property is $832,750, and the high-cost ceiling is $1,249,125, according to Orrick’s summary of the FHFA announcement. Those limits vary by county and unit count. Anything above your county’s limit is jumbo, and the super jumbo line sits well beyond that.
Within the wholesale network, the practical line shows up in the overlays. Above $3,500,000 on a primary residence, and above $3,000,000 on a second home or investment property, the portfolio program adds rules:
- a 700 credit floor
- a 0x30x24 housing history
- 48-month seasoning after any credit event
- U.S. citizens and permanent residents only
- no non-occupant co-borrowers
- no rural property, and ten acres at most
- cash-out proceeds that cannot satisfy reserves
How Much Can You Borrow, and at What Leverage?
Leverage on a primary residence steps down with the loan amount. These are ceilings for the best credit cell in each band, through select wholesale programs and subject to underwriting. The credit score a band’s top cell needs is not a program floor. A lower score lands in a lower leverage cell inside the same band.
On a primary residence purchase:
- Up to $1,000,000: 90%, with credit 680+ needed at that leverage.
- $1,000,000 to $2,000,000: 85%, with 700+ and then 720+ for the top cell.
- $2,000,000 to $3,000,000: 80%, needing 720+.
- $3,000,000 to $4,000,000: 75%. The top cell needs 720+ up to $3,500,000 and 760+ above it, on the portfolio program with its super-jumbo overlays.
- $4,000,000 to $5,000,000: 65%, on review and case by case, on the bank program.
- $5,000,000 to $10,000,000: 60%, on review and case by case, on the bank program.
- $10,000,000 to $30,000,000: 55%, on review and case by case, on the bank program.
Notice that leverage steps down at $4,000,000 because the bank program takes over with its own ladder. Don’t read it as one smooth slope.
Cash-out on a primary residence runs lower: 80% for loans up to $1,500,000, 75% from $1,500,000 to $2,000,000, 70% from $2,000,000 to $3,000,000, and 65% from $3,000,000 to $4,000,000. Above $4,000,000, cash-out figures run lower again and sit under case-by-case review. Proceeds are unlimited at or below 60% LTV. Above 60%, the portfolio program caps cash in hand at $1,500,000. The bank program publishes no cap. Final terms depend on lender guidelines, property type, leverage, and the borrower’s complete credit picture.
Interest-only is a structure, not a leverage boost. On the portfolio program it runs to 85% LTV on a purchase or rate-and-term refinance with a 700 floor, on a 40-year term with a 10-year interest-only period. On the bank program it runs to 60%, on 5- and 7-year fixed-period adjustables. These specifics are subject to lender guidelines and a full review of property, leverage, and credit.
Second homes and investment properties take their own ladders. On a purchase, an investment property gets 85% for loans up to $1,000,000 and 80% from $1,000,000 to $2,500,000. Read each figure from the occupancy’s own ladder, never by subtracting from the primary-residence number.
Reserves, Credit and Property Rules That Still Apply
Reserves scale with the loan. The programs typically want 3 months up to $500,000, 6 months up to $1,500,000, and 9 months above that. Add 2 months for each additional financed property, to a 12-month maximum. First-time investors need 12 months.
Property type moves the leverage too. Warrantable condos run to 85% and non-warrantable to 80%. Condotels get 75% on a purchase and 65% on cash-out, or 50% on the bank program. Two- to four-unit properties run to 85%. Second homes must be one unit. Rural property tops out at 80% on ten acres or less and never above $3,000,000. A Texas 50(a)(6) home-equity loan takes a 5-point leverage cut and stops at $3,000,000 on the portfolio program.
Credit events matter at the top end. The overlays above $3,500,000 on a primary residence reach back 48 months after any credit event. A single late payment on a housing account can price you out of the best cell.
A Worked Example
Say an equity partner is buying a primary residence, and the loan lands in the $2,000,000 to $3,000,000 band. The top cell on a purchase is 80%, through select wholesale programs and subject to underwriting. Reaching that cell needs credit of 720 or higher. Falling short means a lower leverage cell in the same band.
The partner’s tax return shows a K-1 that looks modest after deductions and retained earnings. The partner’s personal account shows 24 months of draws from the firm. Those transfers count at 100%. The statements are consecutive, trust money never touched the account, and the underwriter divides eligible deposits by 24.
Debt-to-income must fit under 50%. Reserves for a loan this size are 9 months of housing payments, plus any extra for other financed properties. This is a model of how the pieces fit, not a promise that any file qualifies.
What If the Rental Is the Goal, Not the Residence?
If you are buying a rental, a different tool may fit better. DSCR loans qualify primarily on property-level rental income covering the payment, subject to lender guidelines, so your deposits don’t carry the file. Lendmire’s complete DSCR loans guide walks through that path.
The two tools answer different questions. A bank-statement loan on a residence is reviewed for you, and the rent schedule on a rental only supports the appraisal there. A DSCR loan is reviewed for the property. Rent does not carry a residence file, and your deposits do not carry a DSCR file.
DSCR loans are designed for non-owner-occupied investment properties. Because they are business-purpose loans, they are reviewed differently from a standard owner-occupied mortgage. The federal rules reflect this: Regulation Z’s business-purpose exemption turns on the purpose of the credit, and the creditor decides purpose in each case. A property being called an investment does not settle it on its own. A home you live in cannot be papered as a business loan.
When Is This the Wrong Loan?
Skip this path if a conforming or standard jumbo loan fits your balance. Documentation is lighter, and the wholesale programs exist for people those loans don’t fit. If you have a salaried associate’s W-2 and a loan near your county’s limit, a traditional file is simpler.
It is also the wrong loan if your deposits are mostly client money, or if your income is too lumpy to average. In those cases an asset-based path may work better. An asset allowance divides liquid assets by 36, 60 or 84 months. An assets-only file needs U.S. liquid assets equal to the loan plus closing costs, plus sixty months of any net loss on other residential property, and no debt-to-income test applies.
One more caution: tax treatment varies, so consult a qualified tax professional before relying on any deduction.
For documentation specifics, Lendmire’s piece on how to document a super jumbo self-employed mortgage lists what to gather. For size questions, see its explainer on how super jumbo self-employed loan limits work.
Frequently Asked Questions
Can a new attorney qualify for a super jumbo mortgage?
Often, if you have enough consecutive months of deposits, the credit score and the reserves for your loan size. Twelve months of statements is the shorter path, and the bank program uses it. A very recent job change or a thin deposit history makes files harder, and asset paths may help.
How are partner draws and K-1 income treated?
Draws moved into your personal account count at 100% of eligible deposits. Deposits into a business account take an expense ratio first. A K-1 isn’t the starting point on this path, because underwriting reads the statements instead.
Is bank statement qualification the same as no documentation?
No. Programs still verify income from consecutive statements, plus credit, reserves and the property. Federal ability-to-repay rules also call for a good-faith look at repayment ability from verified records, as the CFPB’s ATR and QM compliance guide explains. The paperwork changes shape. It does not disappear.
Can client trust money count toward reserves or income?
No. IOLTA and client funds are held in custody and are not your money. Only your own funds count toward reserves. Cash-out proceeds cannot satisfy reserves above the super-jumbo overlay lines.
Does the loan size change what I need?
Yes. Leverage, credit needs and reserves all change with the loan amount. Above $4,000,000 every file is reviewed case by case before it is submitted, so confirm the figures for your specific loan.
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 that shops multiple wholesale programs, never the lender, and its consumer mortgage lending is licensed in 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
As a mortgage broker (NMLS# 2371349), Lendmire helps self-employed and high-net-worth borrowers in 16 states qualify on bank statements, a profit-and-loss statement, 1099s or liquid assets instead of traditional personal-income documentation, through wholesale lenders. Lendmire is never the lender; program terms are set by the lender and its guidelines. Scotsman Guide named Lendmire a Top Mortgage Workplace in both 2025 and 2026.
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References
1. NerdWallet: conforming loan limits
2. American Bar Association: a guide to IOLTA account compliance
3. Orrick summary of the FHFA conforming loan limit announcement
4. CFPB: Regulation Z section 1026.3 exemptions
5. CFPB: ATR and 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 a Super Jumbo Mortgage Works for Executives Paid in Stock · Jumbo vs Super Jumbo Loan on a Home That Needs Two Appraisals · How a Super Jumbo Mortgage Works for Physicians
Brandon Miller
Founder & CEO, Mortgage Loan Originator, Lendmire LLC
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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.