Super Jumbo Bank Statement Loans In Beverly Hills

The Quick Read: A super jumbo bank statement loan lets a high-net-worth, self-employed buyer qualify on deposits instead of traditional personal-income documentation, for loan amounts that run well past a standard jumbo line. Leverage drops as the loan gets bigger, credit and reserve requirements tighten, and anything above roughly $4 million gets reviewed case by case before it’s even submitted. Beverly Hills is used here as shorthand for any ultra-high-cost market where this combination — expensive property, complicated income — shows up constantly; nothing below is specific to that ZIP code or any single market. Final terms depend on lender guidelines, property type, leverage, and the borrower’s complete credit picture.

Business owners, physicians, entertainers, and investors with income that looks smaller on a tax return than it actually is run into the same wall in every expensive market in the country: a mortgage sized for a $3 million or $5 million purchase, and a tax return that doesn’t support it. That’s the gap a bank statement program is built to close.

What “Super Jumbo” Actually Means Here

There’s no regulator that defines “super jumbo.” It’s an industry convention, not a legal category, and it means different things at different lenders. What matters for underwriting is two separate questions: how big is the loan, and how is the income documented. Those two questions get answered independently, then combined.

On loan size, once a mortgage exceeds the local conforming ceiling, it’s jumbo — full stop, no agency buyer available. “Super jumbo” is simply the upper end of that jumbo range, and where that upper end starts depends entirely on which lender you ask.

Across the wholesale network Lendmire places files with, the real ceiling runs from $300,000 up to $30,000,000, but that’s not one program — it’s two, stitched together. A portfolio non-QM bank-statement program carries files to $6,000,000. A separate bank portfolio program, built around twelve months of statements, carries files all the way to $30,000,000 on its own leverage ladder: 65% loan-to-value to $5,000,000, 60% to $10,000,000, and 55% to $30,000,000, with interest-only capped at 60% or the band’s ceiling, whichever is lower. The bank program’s ladder starts above $4,000,000 and overlaps the portfolio program through $6,000,000; past that, it stands alone.

Key Terms Defined

Non-QM means a loan that intentionally steps outside at least one pillar of the standard Qualified Mortgage rule — usually the debt-to-income cap or the tax-return documentation standard — and substitutes a different way of proving the borrower can repay.

Expense factor is the percentage subtracted from business bank deposits before they count as income, since a business account holds revenue and operating costs mixed together.

Reserves are months of housing payment held in liquid accounts after closing, proof the borrower can absorb a rough patch without missing payments.

Interest-only period is a stretch of the loan term where the payment covers interest only, no principal, which lowers the required cash flow during that window.

Asset depletion (called asset allowance in this network) converts liquid assets into a monthly income figure by dividing the balance across a set number of months, rather than counting a paycheck.

How Underwriting Actually Treats the File, Step by Step

A borrower submits 12 or 24 consecutive months of personal or business bank statements; the bank statement program in this network runs on the 12-month version specifically.

From there, the process moves in a fixed sequence:

First, the underwriter totals eligible deposits — money tied to actual revenue, not loan proceeds, refunds, or transfers between the borrower’s own accounts.

Second, personal-account deposits are generally usable in full. Business-account deposits get an expense factor applied first, because a business account carries overhead that a borrower’s personal account doesn’t have. In this network, that factor scales qualitatively with business size and type. It’s lower for a service business with no employees, moderate for a small team, and higher for larger staffing levels or product-based businesses. Or a CPA can supply a ratio directly. A profit-and-loss path exists too, capped at a portion of stated income.

Third, transfers the borrower moves from their own business account into their own personal account count at 100% — no double discount, since that deposit already survived the business-side expense factor once.

Fourth, the resulting income figure gets measured against the debt: this network runs debt-to-income up to 50%, with reserves layered on scaled by loan size — typically 3 months of housing payment on loans to $500,000, 6 months to $1,500,000, and 9 months above that, plus 2 months per additional financed property up to a 12-month cap. First-time real estate investors are held to a 12-month reserve floor regardless of loan size.

Fifth, credit clears a floor of 660 on the portfolio program, 680 on the bank program, and 700 on anything crossing the super-jumbo overlay line described below.

None of this skips ability-to-repay review. Years ago, regulators removed the old rigid documentation checklist. They let lenders substitute other verification methods instead. Bank statement lending is one of the substitutes that resulted, per the Congress.gov CRS summary of the QM rule. But the lender still has to reach a reasonable, good-faith conclusion that the borrower can repay the loan.

The Leverage Ladder: How Much Actually Gets Approved

Leverage steps down as the loan gets bigger, on every occupancy type. This is the single most important mechanic for anyone shopping a super jumbo file, and it’s where most borrowers get surprised — they assume the down payment percentage from their last mortgage still applies at $4 million. It doesn’t.

Second homes and investment properties run roughly five points lower than the primary-residence figures at comparable sizes, subject to lender guidelines. Cash-out refinancing follows a lower ceiling still. Proceeds are effectively unlimited at or below 60% LTV through the portfolio program. But above 60% LTV, cash-in-hand is capped at $1,500,000 on that same program. The bank program carries no published cash-out cap of its own.

Every figure above $4,000,000 is a ceiling reviewed case by case before it’s even submitted for underwriting — never treat it as an automatic “up to.”

Structures and Variations That Actually Exist

Bank statement underwriting isn’t one product; it’s a family of documentation paths, and picking the right one changes the outcome more than almost anything else in the file.

Twelve months versus twenty-four. Twelve months captures a current income trend better if the business is growing. Twenty-four months can smooth out a single rough quarter, but it also drags a weaker prior year into the average if income has been climbing. Neither length is universally better — it’s a function of which direction the borrower’s cash flow has been moving.

Asset allowance. For a borrower whose income doesn’t tell the full story but whose liquidity does, this network divides liquid assets across 36 months (when paired with income and debt-to-income sits at or below 60%), 60 months (paired with income, debt-to-income above 60%), or 84 months as a standalone qualifying method or on any loan above $3,500,000. This path is limited to primary and second homes, maxing at 80% LTV. Retirement accounts count toward that liquid pool at 70% of value, rising to 80% once the borrower is past 59½; business funds, gift funds, trusts other than a revocable living trust, unvested stock, and cryptocurrency never count. These specifics are subject to lender guidelines and a full review of property, leverage, and credit.

Assets-only. No debt-to-income calculation at all — the borrower simply needs liquid U.S. assets equal to the full loan amount, plus closing costs, plus sixty months of any documented net loss on other owned residential real estate.

Interest-only structuring. The portfolio program allows interest-only to 85% LTV with a 700 credit floor, built as a 40-year term with a 10-year interest-only stretch up front. The bank program allows interest-only to 60% LTV through 5- and 7-year fixed-rate adjustable structures; its 10-year fixed-period adjustable is fully amortizing from day one, with no interest-only window. Terms vary by lender guidelines, property type, leverage, credit profile, and full file review.

Beyond a certain size, none of these paths run on autopilot. In practice, files above roughly $3.5 million on a primary residence — or $3 million on a second home or investment property — trigger a distinct overlay. That overlay includes a 700 credit floor, a clean 0x30x24 housing payment history, and a 48-month seasoning requirement on any prior credit event. It also requires U.S. citizen or permanent resident status, no non-occupant co-borrowers, no rural property, and a ten-acre ceiling. One thing worth flagging specifically: cash-out proceeds can’t be used to satisfy the reserve requirement on the same transaction. Exact terms depend on the lender’s guidelines, property type, leverage, and a full review of the borrower’s file.

Where the General Rule Breaks

The size-vs-documentation framework holds up almost all the time, but a handful of situations don’t fit it cleanly. A condotel purchase caps at 75% LTV regardless of how strong the bank-statement income looks, and drops to 65% on cash-out — or 50% under the bank program specifically. A non-warrantable condo tops out at 80%, five points under a warrantable one, purely on the property type, independent of the borrower’s income strength. A Texas home-equity loan under Section 50(a)(6) takes an automatic five-point LTV reduction and stops entirely at $3,000,000 on the portfolio program, no matter how the income documents. Every figure here varies by lender and program — guidelines, property type, leverage, and credit profile all apply.

Rural property is its own wall: capped at 80% LTV on ten acres or less, and never eligible above $3,000,000 in loan size at all — a strong bank-statement file doesn’t move that number.

And self-employment itself isn’t one profile. Self-employed workers made up roughly 16.75 million people, close to 10% of the U.S. workforce, according to Bureau of Labor Statistics data cited by the National Employment Law Project. That population spans everything from a solo consultant with almost no business overhead to a six-employee retail operation with thin margins. The expense factor exists for exactly this reason: two borrowers with identical gross deposits can carry very different real income. Treating them the same would misstate one of them badly.

The Investor Decision, In Practice

For a straight rental purchase, personal bank-statement underwriting is often the wrong tool entirely. A property bought purely for rental income usually qualifies faster and more directly on the asset’s own cash flow — not the buyer’s personal deposits. That’s the core idea behind the complete DSCR loans guide. It’s a completely separate underwriting track from everything described above.

Bank statement financing earns its place on the personal side: a primary residence, a second home, or any purchase where the buyer’s personal income — not a rental’s — is what’s being measured. Growth in this segment isn’t a fringe trend, either; non-QM lending made up about 5% of all originations in 2024, up from 3% in 2020, with production running roughly 10% above 2019 levels, per Scotsman Guide’s coverage of non-QM growth.

Here’s the practical sequence for a self-employed buyer eyeing a large purchase. First, figure out whether personal or business statements give the stronger number. Then decide between 12 and 24 months, based on which way income has moved. Next, check where the purchase price lands on the leverage ladder above. Finally, confirm reserves are staged for the size band before you submit the file. Ask a specific question: is a business-account transfer into a personal account being double-counted or double-discounted? It should count at 100%, once — that’s exactly how this network structures it. For a deeper look at how business accounts factor into a super jumbo file, Lendmire’s guide to using business bank accounts on a super jumbo walks through that mechanic directly. And the 12-month statement path breaks down when that shorter window actually helps.

Lendmire arranges these loans as a broker, shopping select wholesale lenders rather than funding them directly. Its consumer mortgage lending footprint covers 16 states. Every figure above is a program ceiling, subject to full underwriting — not a commitment to lend.

For current guidelines and terms, see Lendmire’s super jumbo bank statement loan programs page.

Self-employed borrowers can compare their options on Lendmire’s self-employed mortgages page.

About Lendmire

Lendmire is a non-QM mortgage brokerage (NMLS# 2371349) arranging DSCR investor loans in 41 markets, including Washington, D.C. DSCR eligibility is generally reviewed around property-level rental income rather than personal income, subject to lender and program guidelines, making it a fit for self-employed investors and LLC-owned portfolios. Lendmire was recognized as a Scotsman Guide Top Mortgage Workplace in 2025 and 2026.

References

1. Congress.gov CRS Report – QM Rule and Recent Revisions

2. NELP – March jobs report, self-employment

3. Scotsman Guide – Which groups are driving non-QM lending?