The Quick Read: A super jumbo bank statement loan is reviewed around documented deposits or liquid assets instead of traditional personal-income documentation. Large investment balances help as reserves or as an asset-qualification path. They do not set the loan size on their own.
- Income comes from 12 or 24 consecutive months of personal or business statements, after an expense ratio.
- Leverage generally falls as the loan grows, through select wholesale programs, subject to full underwriting.
- Every loan above $4,000,000 is reviewed case by case before submission.
- Asset-based paths exist for borrowers whose deposits understate their wealth.
- Moving out of a private bank means checking the existing note before anything else.
What Does Super Jumbo Actually Mean?
Super jumbo is a trade label, not a legal category. The only official dividing line is the conforming loan limit, which sets the largest loan that can be sold into the conforming mortgage market. The current one-unit baseline is $832,750, with a high-cost ceiling of $1,249,125. Anything above is jumbo. Where jumbo becomes super jumbo depends on who you ask.
Lendmire is a mortgage broker. It does not lend. It shops your file across wholesale programs, and two of them matter here:
- The portfolio non-QM program. A bank-statement program that carries files from $300,000 up to $6,000,000.
- The bank portfolio program. A jumbo program that carries twelve-month-statement files up to $30,000,000 on its own size ladder.
The bank program’s ladder begins above $4,000,000 and overlaps the portfolio program to $6,000,000. Above $6,000,000 it stands alone. All figures here are ceilings through select wholesale programs, subject to full underwriting. Nothing here is a commitment to lend.
Why Bank Statement Loans for Private-Bank Clients Exist
Private banks price a mortgage off the whole relationship: deposits, investments, and income together. That is general market practice, and it works well when your file is clean and fully documented. It works less well when your traditional personal-income documentation understates what you earn.
Think of a founder, a physician with a practice, an attorney with a partnership stake, or an athlete with uneven pay. Depreciation, write-offs, and retained earnings shrink the income line on a return. The deposits tell a different story.
Large AUM changes the picture, but not the way people expect. A big portfolio is strong evidence of capacity. It is not automatically income. Part of it may sit in retirement accounts, which get discounted. Part may be pledged as collateral, which is not truly free. And the loan size band, the property, and your credit still set the ceiling.
Many private-bank clients arrive here for one of three reasons. The bank wanted the portfolio moved in-house. The bank capped the loan below what the purchase needed. Or the income presentation fell outside the bank’s box.
How Does Underwriting Turn Deposits Into Income?
The underwriter totals your eligible deposits, removes what is not income, applies an expense ratio, and divides by the number of months. That is the whole engine. Each step has rules.
1. Pick the window. Most programs in the network use 12 or 24 consecutive months of statements. The bank program uses 12. Statements must be consecutive, and transaction histories never substitute.
2. Pick the account type. Personal statements, business statements, or both.
3. Strip ineligible deposits. Loan proceeds, transfers between your own accounts, and one-time items come out. A lender has to confirm a deposit is your income, and the federal consumer-finance regulator’s small-entity compliance guide explains why: creditors may set their own underwriting standards, but they must consider the required factors and verify what they rely on.
4. Apply the expense ratio on business statements.
5. Divide by the statement months. The result is monthly qualifying income.
6. Test debt-to-income, which runs up to 50% on most files.
Non-QM changes how income is documented. It does not remove the duty to verify. Plenty of borrowers assume otherwise. They are wrong.
The expense ratio is not one number
Scotsman Guide describes a standard expense factor such as 50% as a common illustration. It is not a rule. Across the programs Lendmire places files with, business statements typically use one of these:
- A lower expense factor for a service business with no employees.
- A middle-range factor for a business with a small staff of one to five employees.
- A higher factor for six or more employees, or any product business.
- An accountant-provided ratio.
- A profit-and-loss method, subject to a program cap.
Business statements need at least 25% ownership, and income is prorated to your share.
Here is the part that surprises people. When you move money from your own business into a personal account, those transfers count in full on a personal-statement file. The expense ratio is already baked into what you paid yourself. For an owner who pays a steady draw, the personal route can produce stronger income than the business route.
A Worked Example, in Ratios
Run the numbers on a modeled borrower. The inputs below are assumptions for illustration, not market data.
Say you own 100% of a consulting firm with three employees. You submit twelve consecutive months of business statements.
- Step one: the underwriter removes transfers, a one-time loan deposit, and a refund. What remains is eligible deposits.
- Step two: the firm’s employee count determines the expense ratio applied to those deposits. With a small firm of one to five employees, the expense ratio is typically set by the program’s guidelines, and the remainder of eligible deposits survives.
- Step three: that figure is divided by 12. Ownership is above the 25% minimum, so the full amount counts.
- Step four: your proposed housing cost plus other monthly debts is divided by that income. If the result lands at or below 50%, income passes.
- Step five: reserves. On a larger loan amount, expect the lender to require several months of the full housing payment, held in verified liquid funds.
Now say the same firm pays you a regular draw into your personal account. On the personal route, those transfers count at 100%. The expense ratio drops out of the math. Same borrower, different file, stronger income. A good broker runs both before choosing.
Key Terms Defined
AUM means assets under management. It is the total value of the investments a private bank or advisor holds for you.
Non-QM means a mortgage that does not follow the standard government-backed documentation box. It still has to be underwritten and verified.
Expense ratio is the share of business deposits a lender treats as operating cost rather than your income.
Reserves are liquid funds you hold after closing, measured in months of housing payments.
Seasoning is the waiting period after a credit event, such as a foreclosure, before a lender will consider a new loan.
Asset allowance is a method that turns liquid assets into monthly qualifying income by dividing them over a set number of months.
What If Your Deposits Don’t Tell the Story?
Some large-AUM borrowers hold wealth in portfolios and show modest deposits. For them, asset-based paths exist, through select wholesale programs, subject to full underwriting. They apply to primary and second homes only, at 80% maximum leverage.
- Asset allowance. Liquid assets are divided over a set number of months to create monthly income. The divisor is 36 months when the file is supplemental and its debt-to-income, measured before the asset income is added, is at or below 60%. It is 60 months when that pre-asset ratio is above 60%. It is 84 months when assets stand alone or the loan exceeds $3,500,000. The 60% test only picks the divisor. Once the asset income is counted, the final ratio must still fit within the 50% ceiling.
- Assets-only. No debt-to-income test applies. Your U.S. liquid assets must equal the loan amount, plus closing costs, plus sixty months of any net loss on other residential property.
Not every dollar counts. Retirement accounts count at 70%, or 80% once you are 59.5 or older. Business funds, gifts, unvested stock, and cryptocurrency never count. Trusts count only when they are a revocable living trust. So a $10,000,000 statement is not $10,000,000 of usable assets.
Pledged money deserves its own warning. If you borrowed against your portfolio, one brokerage’s investor education page notes that falling collateral values can force you to add securities, add cash, or repay part of the loan. An underwriter will not treat that balance as free. Expect pledged assets to be netted out of reserves.
How Do Leverage and Requirements Change as Loans Grow?
Leverage generally falls as the loan rises. A $700,000 purchase and a $7,000,000 purchase are not underwritten alike. But the ladder is not a perfectly straight line, because different programs take over at different sizes. Here is a slice of the ladder for purchases, through select wholesale programs, subject to full underwriting.
| Loan size | Primary residence | Investment property |
|---|---|---|
| $300K–$1M | 90% | 85% |
| $1M–$1.5M | 85% | 80% |
| $2M–$2.5M | 80% | 80% |
| $4M–$5M | 65%, on review (bank program) | 65%, on review (portfolio program, 760+ credit for this leverage) |
| $6M–$10M | 60%, on review (bank program) | 55%, on review (bank program) |
At $4M–$5M, the investment-property cell comes from the portfolio program’s super-jumbo overlays and needs stronger credit. At $6M and above, the bank program stands alone. Read each cell on its own program, not as a trend line.
No loan above $1,000,000 reaches 90%. Anything above $4,000,000 is reviewed case by case before submission, so treat those cells as the top of a range, not a promise. Second homes take their own ladder, which the table does not show. A broker can read the right figure off that ladder once you know your loan size.
Credit works by band too. The portfolio program’s floor is 660. The bank program’s floor is 680. Above the super-jumbo line, 700 is the floor. Inside a band, the score listed is what that band’s top leverage needs, and a lower score takes a lower leverage cell.
The super-jumbo overlays
Once a loan passes $3,500,000 on a primary residence, or $3,000,000 on a second home or investment property, extra conditions apply:
- 700 credit floor.
- 0x30x24 housing history, meaning no late payments in 24 months.
- 48 months of seasoning after any credit event.
- U.S. citizens and permanent residents only.
- No non-occupant co-borrowers.
- No rural property, and ten acres maximum.
- Cash-out proceeds cannot satisfy reserves.
Reserves, cash-out, and interest-only
Reserves typically run 3 months up to $500,000, 6 months up to $1,500,000, and 9 months above. Each additional financed property adds 2 months, to a 12-month maximum. First-time investors hold 12.
Cash-out proceeds are unlimited at or below 60% LTV. Above 60%, the portfolio program caps cash in hand at $1,500,000. On a primary residence, the best cash-out ceiling in the ladder is 80%, and only in the smallest bands. Terms vary by lender guidelines, property type, leverage, credit profile, and full file review.
Interest-only exists on both programs. The portfolio program offers it to 85% LTV with a 700 credit floor, on purchase and rate-term files. The bank program limits it to 60%. Interest-only never raises a cash-out ceiling. Exact terms depend on the lender’s guidelines, property type, leverage, and a full review of the borrower’s file.
Private Bank, Full-Doc Jumbo, or Bank Statement Super Jumbo?
The three routes trade documentation against relationship obligations. Private-bank terms below are general market practice. Each bank sets its own.
| Factor | Private-bank loan | Full-doc jumbo | Bank statement super jumbo |
|---|---|---|---|
| Income proof | Relationship plus returns | Traditional personal-income documentation | Deposits or assets |
| Portfolio tie | Often moved in-house | None | None required |
| Flexibility | Bespoke, bank-set | Rigid box | Program-set options |
| Best fit | Clean, documented file | W-2-style income | Returns understate income |
A private bank is hard to beat for a clean, fully documented file. A bank statement loan wins when documentation or income presentation falls outside the bank’s box. The stronger play depends on what your returns actually show. That is a genuine toss-up for many borrowers until someone prices both.
Where Does the General Rule Break?
Four edge cases come up often.
A newer business. When a business is under 24 months old, underwriters weigh your liquid assets and credit alongside the statements, according to Scotsman Guide’s non-QM coverage. Expect a closer read.
Investment property. For a rental, qualification can run on the property instead of you. 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 DSCR file qualifies primarily on property-level rental income covering the payment, subject to lender guidelines. Lendmire’s complete DSCR loans guide covers the mechanics. Use DSCR when the property cash-flows. Use a bank statement loan when your deposits are strong.
Condos and unusual property. Warrantable condos reach 85%, non-warrantable reach 80%, and condotels reach 75% on a purchase and 65% on a cash-out. Second homes are one-unit only. Rural property tops out at 80% on ten acres or less and never above $3,000,000.
Texas home-equity loans. A Texas 50(a)(6) loan takes a five-point LTV reduction and stops at $3,000,000 on the portfolio program.
One more pattern from placing these files. The declined private-bank file is often not a credit problem. It is a structure problem: the portfolio would not move, the loan ran past the bank’s cap, or the income showed up in the wrong place. Naming the actual obstacle before choosing a program saves time on both sides.
How Do You Switch From a Private Bank?
Start with the existing note, not the new loan. In short:
1. Read your current note. Look for prepayment penalties and any interest-only or adjustable reset dates.
2. Price the lost relationship benefit. Relationship pricing may disappear when the loan leaves. Count that cost honestly.
3. Decide what happens to custody assets. Moving the mortgage does not require moving the portfolio on a non-QM file.
4. Pull consecutive statements for the window you will use.
5. Separate pledged from free assets. Reserves must be verifiable and unencumbered.
6. Choose the income method by running personal, business, and asset paths side by side.
7. Confirm your credit tier against the size band you need.
Keeping the portfolio invested instead of selling it is a common reason investors choose this route. 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 Does This Fit, and Who Doesn’t?
It fits you when your deposits or assets are strong, your returns understate income, and you want a loan sized to the property rather than to the private bank’s appetite. Founders, physicians, attorneys, entertainers, and investors fit the pattern.
It fits poorly when your documentation is already clean and your private bank prices it well. It also fits poorly if you are not a U.S. citizen or permanent resident at the super-jumbo sizes. Or if you plan a loan above $4,000,000 and need certainty before review, because every file there is judged individually.
Your Next Step
Reach the team at 828-256-2183 or request a quote. Consumer lending is available in 16 states: AL, CA, CO, FL, GA, IN, MI, MT, NM, NC, OH, PA, TN, TX, VA, and WA.
Frequently Asked Questions
Do I have to move my investment portfolio to get a bank statement super jumbo loan?
No. Non-QM programs underwrite deposits or verified liquid assets, not a custody relationship. Your portfolio can stay where it is. What matters is that the funds are yours, verifiable, and not pledged. Pledged balances are typically netted out of reserves.
Can large AUM replace income entirely?
Sometimes. Assets-only qualification skips the debt-to-income test when your U.S. liquid assets equal the loan plus closing costs and sixty months of any net loss on other residential property. It applies to primary and second homes only, subject to full underwriting. Retirement accounts count at a discount, and business funds never count.
What credit score do I need at super jumbo sizes?
It depends on the band. The portfolio program’s floor is 660 and the bank program’s is 680, but 700 is the floor above the super-jumbo line. Some bands ask for 720 or 760 for their top leverage. Both programs are through select wholesale lenders, subject to full underwriting.
Does the 50% expense ratio always apply to business statements?
No. Fixed ratios range from 20% to 50% depending on your business type and headcount. An accountant-provided ratio or a profit-and-loss method capped at 80% may replace them. And personal-account transfers from your own business count at 100%.
Is a loan above $4,000,000 treated differently?
Yes. Every file above that size is reviewed case by case before submission. Leverage figures there are ceilings reached on review, not promises. The bank program’s ladder runs 65% to $5,000,000, 60% to $10,000,000, and 55% to $30,000,000 on review.
The people who do best with large-balance financing are the ones who show up with statements organized, assets sorted into free and pledged, and a clear sense of which obstacle sent them away from their private bank.
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
As a DSCR and non-QM mortgage broker, Lendmire (NMLS# 2371349) connects investors with wholesale lending channels across 41 markets, including Washington, D.C. Borrowers qualify on documented income under the applicable program, subject to lender guidelines, which suits self-employed operators and high-net-worth clients whose returns understate their capacity. Scotsman Guide named Lendmire a Top Mortgage Workplace in both 2025 and 2026.
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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. Consumer Finance Monitor, conforming loan limits
2. CFPB ATR/QM Small Entity Compliance Guide
3. Scotsman Guide, Rev Up the Engine for Non-QM Lending
4. Brokerage investor education on securities-based lines of credit
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 Document a Super Jumbo Bank Statement Loan · How to Qualify for a Super Jumbo Bank Statement Loan in Michigan · How Super Jumbo Bank Statement Loans Work for AUM Clients Weighing Non-QM Options
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
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- Lendmire LLC · Firm NMLS# 2371349 · Verify firm licensure
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.