The Quick Read: Jet owners qualify the way any self-employed borrower does: 12 or 24 months of consecutive bank statements, with eligible deposits turned into income after an expense ratio. No special jet-owner program exists. The aircraft matters in three ways. It adds a debt payment, it may run costs through the same account that supplies your deposits, and it draws down the cash you hold after closing.
- Qualifying income is eligible deposits divided by the statement months, reduced by an expense ratio, subject to full underwriting and offered through select wholesale programs.
- Credit score floors vary by scenario on the portfolio program, and debt-to-income runs to 50%.
- Leverage steps down as the loan grows, and everything above $4,000,000 is reviewed case by case.
- A jet note counts as a monthly debt when it appears on your credit report or personal financial statement.
- Large liquid assets can qualify you through asset allowance or assets-only paths instead of deposits.
Picture an owner of a regional logistics company. The tax return shows modest profit because depreciation, fuel and crew costs were all deducted. The business account tells a different story, with steady deposits month after month. That gap between taxable income and real cash flow is what a bank statement loan reads. The rest of this piece walks through how.
Does a “Jet Owner Program” Exist?
No. Across the wholesale network Lendmire works with, no program is built around aircraft ownership. A jet owner is a high-net-worth, usually self-employed borrower, and the file is underwritten on the same mechanics as any business-owner file.
That clears up a common mix-up. A mortgage on a home and a loan on the aircraft are separate products with separate collateral. A bank statement mortgage finances the house. An aircraft lender finances the plane. Statements play a different role in each. In the mortgage, they prove income. In the aircraft loan, they mostly prove liquidity.
Lendmire is a mortgage broker. It shops multiple wholesale programs and does not lend, and every figure below comes through select wholesale programs, subject to full underwriting. Nothing here is a commitment to lend. Lendmire’s 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.
Key Terms Defined
- Bank statement loan: a mortgage that is reviewed on documented deposits in 12 or 24 months of statements instead of tax-return income.
- Expense ratio: the share of business deposits treated as operating cost, so only the remainder counts as income.
- Eligible deposits: deposits that count as income after transfers between your own accounts, loan proceeds, refunds and one-time windfalls are removed.
- Asset allowance: a path that adds income by dividing liquid assets over a set number of months.
- Assets-only: a path that qualifies with no debt-to-income test when liquid assets cover the loan and costs.
- Reserves: liquid funds left after closing, measured in months of the housing payment.
Why Jet Owners Often Fit This Loan Type
Traditional personal-income documentation can understate cash flow for owners who run aircraft through a business. A jet used in business can generate depreciation deductions, which is one reason returns can look thin next to the deposits. Flycraft’s overview of private jet financing discusses depreciation for business-use aircraft. A bank statement file ignores the deductions and reads the cash.
Entity structures push the same way. An owner may have an operating company, an aircraft-holding LLC and personal accounts. Distributions arrive in lumps. A deposit-based review smooths those lumps by averaging them across the statement window.
Scotsman Guide’s reporting on non-QM lending points to self-employed borrowers as the core demand, and the 12-to-24-month statement window is the product’s usual shape.
How Qualifying Income Is Calculated
Income is eligible deposits divided by the months reviewed, after an expense ratio. Most programs we place files with follow these steps.
1. Choose the window. You pick 12 or 24 consecutive months of personal or business statements. The bank portfolio program uses 12. Statements must be consecutive and complete. A transaction history never substitutes.
2. Screen the deposits. Transfers between your own accounts, loan proceeds and refunds come out. Underwriters want deposits identified as income, not just present.
3. Apply the expense ratio to business accounts. Fixed ratios run 20% for a service business with no employees, 40% with 1 to 5 employees, and 50% with 6 or more employees or any product business. An accountant-provided ratio is an alternative. So is a profit-and-loss method capped at 80%.
4. Prorate for ownership. Business statements require at least 25% ownership, and income counts at your share.
5. Average and test. The result runs against debt-to-income, which can reach 50% and includes the new mortgage and every existing obligation.
One feature matters for owners with several entities. Transfers from your own business into a personal account count at 100%. The business-level expense ratio was effectively applied upstream, so those transfers are read at face value. For a founder who pays themselves a steady draw, personal statements can be the cleaner path.
Run it in ratios, not dollars. Suppose an owner of a business with eight employees uses business statements, so the 50% ratio applies. Half of every eligible deposit disappears before income is counted. If a CPA-prepared ratio supports a lower figure, the file can use it. The same owner moving pay into a personal account could see that draw counted in full. Which route produces higher income depends on how the money actually moves.
Which Deposits Count?
Recurring operating revenue counts. One-time and self-sourced money does not. Aircraft-related deposits are where files get tangled, so here is how underwriters generally sort them.
| Deposit type | Typical treatment |
|---|---|
| Customer or client revenue | Counts, after expense ratio |
| Owner draws from your business | Counts in full on personal statements |
| Transfers between your own accounts | Excluded |
| Loan proceeds, including aircraft loan draws | Excluded |
| Aircraft sale proceeds | Excluded as non-recurring |
| Charter or management-company payments | Depends on documentation |
| Equity sales, investment account transfers | Excluded; consider asset paths |
Charter and management payments sit in the gray zone. If they are a documented, recurring revenue line of the business, they can read as income. If they are occasional offsets to ownership costs, expect them to be questioned. Label them in a letter of explanation before the underwriter has to ask.
Personal or Business Statements?
Use whichever account carries the cleanest, most complete record of the income. Business accounts take an expense ratio but let you show full operating revenue. Personal accounts are usually read closer to face value but only show what you pulled out.
Commingling raises scrutiny. If one account mixes household spending, jet costs and business revenue, the underwriter has to untangle it. A common pattern in files with several entities is a clean operating account that feeds one personal account on a regular schedule. That structure is easy to read.
If fuel, crew, hangar, maintenance and insurance flow through the business account, the expense ratio or an accountant-prepared figure is what captures them. Ask the underwriter early which treatment applies.
Where the Aircraft Fits in the File
The jet is a debt and a drain on cash, not proof of income. Owning one does not substitute for documented deposits or reserves.
If the aircraft loan appears on your credit report or personal financial statement, its monthly payment enters debt-to-income. If a company holds the note and pays it from the business account, it may show up as a business expense instead. Which applies depends on the lender and the structure, so confirm it before you choose an account.
Aircraft lenders use their own methods. AOPA Aviation Finance figures reported by Flycraft show aircraft loans carrying their own down payment expectations, often higher for asset-based deals. Those are aircraft-market figures, not mortgage figures. An aircraft lender may add back depreciation and interest from traditional personal-income documentation, while a mortgage bank statement program reads deposits. Do not assume both land on the same income number.
Liquidity is the quiet constraint. Hangar, insurance, fuel and maintenance reserves come out of the same cash that supports your mortgage reserves. Reserves in our network typically run 3 months to $500,000, 6 months to $1,500,000 and 9 months above, plus 2 months per additional financed property up to a 12-month maximum. First-time investors need 12 months. Cash-out proceeds cannot satisfy reserves above the super-jumbo line.
Size and Leverage
Loans run $300,000 to $30,000,000 through two wholesale programs. A portfolio non-QM bank-statement program carries files to $6,000,000. The second program’s size ladder begins above $4,000,000 and overlaps the portfolio program to $6,000,000, then stands alone above that. It allows 65% to $5,000,000, 60% to $10,000,000 and 55% to $30,000,000.
On a primary residence purchase, leverage typically steps down with size through select wholesale programs, subject to full underwriting:
- 90% to $1,000,000, with a 680 credit minimum.
- 85% to $2,000,000.
- 80% to $3,000,000.
- 75% from $3,000,000 to $4,000,000, with a 760 score needed from $3,500,000.
- Above $4,000,000, every file is reviewed case by case before submission.
Second homes and investment property run about five points lower at most sizes. Cash-out ceilings are lower than purchase ceilings. Credit floors are 660 on the portfolio program, 680 on the bank program, and 700 above the super-jumbo line. That line sits at $3,500,000 on a primary residence and $3,000,000 on a second home or investment property.
Above that line, overlays tighten. Expect a 0x30x24 housing history, 48-month seasoning on any credit event, U.S. citizen or permanent resident status, and no rural property. Interest-only is available to 85% on purchase and rate-term files on the portfolio program with a 700 floor. The bank program offers it to 60%.
When Assets Beat Deposits
Some jet owners have lumpy income but large liquid holdings. Two asset paths exist for primary and second homes. Neither requires a deposit average.
- Asset allowance divides liquid assets by 36, 60 or 84 months to create supplemental income. The 84-month version also works as a standalone path, and it applies to any loan above $3,500,000. Maximum leverage is 80%.
- Assets-only needs no debt-to-income test. U.S. liquid assets must equal 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 older. Business funds, gifts, most trusts other than a revocable living trust, unvested stock and cryptocurrency never count. For an owner who sold a company, or whose cash sits in brokerage accounts, this path often fits better than deposits.
Where the Rule Breaks
A few situations change the usual answer.
- Mostly non-recurring money. If your cash came from an equity sale or loan draws, deposits will not qualify you. Use the asset paths.
- Short history or falling deposits. Declining trends can trigger a letter of explanation, and treatment varies by program.
- Rental purchases. A bank statement loan tests your debt-to-income, so a large jet payment stacks with each new mortgage. For a non-owner-occupied rental, a DSCR loan is reviewed primarily on property-level rental income covering the payment, subject to lender guidelines. That can keep the aircraft note out of the picture. Lendmire’s complete DSCR loans guide covers how it works, and the brokerage’s piece on bank statement loans for private jet owners goes deeper on the owner’s side.
- Business-purpose loans. Investment loans are generally treated as business purpose, per the Federal Register preamble to the ability-to-repay rule. A primary or second home loan is reviewed under the full consumer framework. That is a general description, not legal advice.
Why Bank Statements Are Still Full Underwriting
Bank statement loans are not stated-income loans. Federal guidance says a lender generally must verify what it relies on using reasonably reliable third-party records, and bank account statements are a recognized source. The CFPB’s ability-to-repay compliance guide lays out that verification standard, and it is why a self-prepared profit-and-loss alone is not enough in most cases. It is also why underwriters screen out unexplained deposits.
A 90-Day Preparation Checklist
1. Days 1 to 30: Pull every page of 12 to 24 months of statements. Flag large or unusual deposits and write one-line explanations for each.
2. Days 31 to 60: Separate personal and business flows. Route owner draws on a regular schedule. Gather ownership documents, including an LLC operating agreement if the aircraft sits in one.
3. Days 61 to 90: If you want a lower expense ratio, get an accountant-prepared figure. Pull your credit report, list the aircraft loan or lease, and total your liquid assets for reserves.
Common reasons files stall: commingled accounts, unexplained large deposits, entity paperwork gaps, and a jet payment nobody mentioned until late.
Which Path Fits Which Owner
| Owner profile | Likely path |
|---|---|
| Steady business deposits, low taxable income | Bank statement, business or personal |
| Regular owner draws to a personal account | Bank statement, personal |
| Large liquid assets, uneven income | Asset allowance or assets-only |
| Buying rentals with a heavy jet payment | DSCR on the rental |
| Strong W-2 or clean traditional personal-income documentation | Conventional may cost less |
If your traditional income documentation already shows strong income and the jet note is small, conventional documentation may be simpler and cheaper. Bank statements earn their place when returns understate cash flow.
For a related look at how another income type is handled in a large-loan file, see Lendmire’s article Does Undistributed K-1 Income Qualify on a Super Jumbo Bank Statement Loan?.
Frequently Asked Questions
Do I need a different loan because I own a jet?
No. A jet owner is underwritten like any self-employed borrower. The aircraft shows up as a monthly debt if it is on your credit report or financial statement, and as a drain on liquidity.
Does the aircraft loan count against my debt-to-income?
Often yes. Held and paid by a company may be treated as a business expense, depending on the lender and structure.
Can sale proceeds from a previous aircraft count as income?
Usually not. Sale proceeds are non-recurring, so they come out of the deposit average. They can still support reserves or an asset path, subject to lender guidelines.
What if my business has several entities?
Pick the account that cleanly shows the income. Transfers from your own business into a personal account count at 100%, while business accounts need at least 25% ownership and take an expense ratio.
Can I use a bank statement loan to buy a rental?
Some programs allow it, but each new mortgage stacks on your debt-to-income. Many investors use a DSCR loan for rentals so each property stands on its own rent.
Tax treatment varies by situation; investors should keep clear records and consult a qualified tax professional.
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. Program details are subject to full underwriting and are not a commitment to lend.
Aircraft ownership is a cash-flow story, and underwriters read it in the deposits, the debts and the cash left on the day after closing.
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 focused on DSCR investor financing, helping arrange programs through wholesale and investor-lending channels in 41 markets, including Washington, D.C. DSCR loans are evaluated by the lender on property cash flow rather than personal income, subject to lender guidelines, supporting LLC closings and accommodating investors with four or more financed properties. Scotsman Guide Top Mortgage Workplace in both 2025 and 2026.
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. Flycraft, Private Jet Financing
2. Scotsman Guide, “Rev Up the Engine for Non-QM Lending”
3. Federal Register, Ability-to-Repay and Qualified Mortgage Standards final rule
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 to Switch From a Private Bank to a Super Jumbo Bank Statement Loan · Bank Statement Loan vs Asset Depletion Loan for Musicians · How to Use a CPA Letter for a Bank Statement Jumbo 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
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.