Bank Statement Loans in Healdsburg — The Quick Read: A super jumbo bank statement loan lets a self-employed borrower qualify on deposit history instead of traditional personal-income documentation, for loan amounts well above standard jumbo limits. Healdsburg sits in California, one of the 16 states where Lendmire’s consumer mortgage lending operates, so the product applies there the same way it applies anywhere else in that footprint. Size, leverage, and documentation all move together as the loan amount climbs, and every file above $4,000,000 gets a manual, case-by-case look before it’s submitted.
This is a national explainer, not a local one. Nothing below is specific to Healdsburg’s price points or property types — the mechanics of super jumbo bank statement underwriting work the same in any market where the product is available.
Key Takeaways
- Two wholesale programs cover this space: a portfolio non-QM bank-statement program running to $6,000,000, and a bank portfolio jumbo program that carries twelve-month-statement files to $30,000,000 on its own leverage ladder.
- Leverage steps down as loan size rises — roughly 90% near $1,000,000 on a primary residence, dropping through the mid-80s and 80s, then into the 60s and 55s once a file clears $6,000,000.
- Qualifying income comes from averaged deposits after an expense ratio, not gross deposits — this single step causes more borrower confusion than anything else in the file.
- Every loan above $4,000,000 is reviewed case by case before it ever reaches an underwriter’s desk.
- Consumer mortgage lending through this channel runs in 16 states, including California, Texas, Florida, and 13 others.
What a Super Jumbo Bank Statement Loan Actually Is
This is a non-QM mortgage. It qualifies a borrower using bank deposits instead of traditional personal-income documents. It’s sized well above ordinary jumbo territory. The “super jumbo” label has no federal definition. It’s a pricing and underwriting tier that individual lenders set for themselves. No regulator draws this line.
That matters because two different things are happening in the same loan. One is a documentation choice: the file is built on deposit history rather than W-2s or tax-return adjusted gross income. The other is a size classification: once a loan clears the conforming ceiling, it can’t be sold to Fannie Mae or Freddie Mac and has to live in a private portfolio instead. A borrower can have a jumbo loan documented on traditional personal-income documentation, or a conforming-size loan documented on bank statements. Super jumbo bank statement loans stack both departures — big and non-agency, plus documented on deposits instead of returns.
The buyer profile stays consistent across our wholesale network. These are founders, physicians, attorneys, business owners, and investors. Their traditional income documents understate what they actually take home. Aggressive deduction strategies lower a tax bill. But they also lower the income a conventional lender can count. This product is built to close exactly that gap.
Key Terms Defined
Non-QM means a mortgage that intentionally sits outside the Qualified Mortgage rulebook the Consumer Financial Protection Bureau built for standard home loans — it’s fully underwritten, just tested differently.
Bank statement loan means a mortgage where qualifying income comes from 12 or 24 months of deposit history rather than conventional personal-income paperwork or pay stubs.
Expense ratio means the percentage of business deposits an underwriter treats as overhead and subtracts before counting the rest as usable income.
Super jumbo means a lender-set tier above standard jumbo sizing, with no government line attached to the term.
Conforming loan limit means the ceiling the Federal Housing Finance Agency sets each year for loans Fannie Mae and Freddie Mac will buy — anything above it is jumbo by definition.
How Underwriting Actually Treats the File, Step by Step
Deposits get gathered, screened, averaged, and then discounted before they become qualifying income — that discounting step is where most of the surprises happen. Here’s the sequence our wholesale network follows on a file like this.
First, the borrower supplies 12 or 24 consecutive months of personal and/or business bank statements. The bank portfolio program in Lendmire’s network uses a 12-month lookback; the portfolio non-QM program can use either 12 or 24, depending on the file’s strength.
Second, an underwriter screens the deposits. Transfers between the borrower’s own accounts, one-time windfalls, and unverifiable deposits get pulled out before anything is averaged. Deposits from the borrower’s own business, moved into a personal account, count at full value — that’s a meaningful advantage for owners who pay themselves through regular transfers rather than a formal payroll run.
Third, if the income comes from a business account, an expense ratio applies. Most programs in our network default to a fixed ratio based on the business type: 20% for a service business with no employees, 40% for a business with one to five employees, and 50% for anything with six or more employees or any product-based business. A borrower who can produce an accountant letter or a documented profit-and-loss statement may qualify for a lower, more favorable ratio instead of the fixed default — with the profit-and-loss method capped at 80% of deposits counted. Business statements generally need at least 25% ownership in the account to be usable at all.
Fourth, eligible deposits are divided by the number of months in the lookback period to produce a single monthly qualifying-income figure. That figure then runs through a standard debt-to-income calculation against the borrower’s other obligations, with most files in our network capped around 50% DTI.
Fifth, loan size routes the file to a program. Because the loan sits above the conforming ceiling by definition, it can never go to Fannie Mae or Freddie Mac — it moves straight into private, non-agency underwriting. That regulatory fork is worth understanding on its own terms: the original Qualified Mortgage rule from the Consumer Financial Protection Bureau built its underwriting requirement around a flat 43% debt-to-income cap, a test bank statement loans were never designed to pass since they’re documenting income a different way entirely.
Sixth, some investment properties count rental income in the file. When they do, appraisers commonly use the same forms used industry-wide. The Fannie Mae Form 1007 rent schedule is a familiar naming convention. Lenders use it even on a loan that will never touch an agency.
Seventh, lenders review reserves and account history. There’s a cap on non-sufficient-funds occurrences during the lookback period. Co-mingled accounts are also checked. These are accounts where personal and business transactions run through the same account. In these cases, lenders must separate the two streams. They can’t average them together as one deposit pool.
The Size and Leverage Ladder
Loan size runs from $300,000 to $30,000,000 across two distinct wholesale programs, and leverage steps down every time the loan crosses a size threshold. That’s the single most important mechanical fact for anyone sizing a purchase or refinance in this space.
The portfolio non-QM bank-statement program carries files to $6,000,000. Above that, and overlapping it from roughly $4,000,000 upward, a separate bank portfolio program takes twelve-month-statement files all the way to $30,000,000 on its own leverage ladder: around 65% to $5,000,000, 60% to $10,000,000, and 55% up through $30,000,000, with interest-only capped at 60% or the band’s own ceiling, whichever is lower. Past $6,000,000, this program stands entirely on its own.
On a primary residence, leverage in our network typically runs near 90% up to $1,000,000, stepping to roughly 85% by $2,000,000, 80% by $3,000,000, and around 75% at the strongest credit tier up to $4,000,000. From there, every file is reviewed case by case up to $6,000,000, and then the bank program’s own ladder takes over. Second homes and investment properties generally run about five points lower than the primary-residence figures at every size band — the same shape, shifted down.
Credit requirements move in the same direction. Most programs in our network work with a 660 floor, and files above the super-jumbo threshold typically need a 700 floor instead. Reserve requirements scale by size too — commonly 3 months of reserves to $500,000, 6 months to $1,500,000, and 9 months above that, with additional financed properties adding to the reserve requirement up to a 12-month maximum. First-time real estate investors are usually held to a 12-month reserve standard regardless of loan size.
Cash-out works differently depending on where the loan sits. On the portfolio non-QM program, proceeds are effectively uncapped at or below 60% loan-to-value, but a $1,500,000 cash-in-hand limit applies above that threshold. The bank portfolio program doesn’t publish a comparable cap.
Where the General Rule Breaks
Four situations pull a file off the standard path, and each one is worth knowing before an application goes anywhere.
Co-mingled accounts. A borrower running both personal and business transactions through a single account can’t just hand over an average — the two deposit streams have to be separated and treated under their own rules before anything gets counted.
An expense-ratio request with no proof. A borrower who wants a lower expense ratio than the fixed default, but can’t produce a profit-and-loss statement or an accountant letter, falls back to the standard fixed ratio. The loan still is reviewed on documented income under the applicable program, subject to lender guidelines — without that documentation, the exception simply isn’t available.
Anything above $4,000,000. This is the hardest structural break in the whole program. Standard matrix pricing stops applying automatically, and every file above that threshold goes through manual, case-by-case review before it’s even submitted. That’s true no matter how strong the deposit history looks.
Documentation mismatch. A borrower whose income actually arrives as 1099 contract payments, rather than steady business deposits, often fits a different documentation path better. Forcing bank-statement mechanics onto a fragmented 1099 income pattern — or the reverse — tends to distort the qualifying-income number rather than clarify it.
Here’s a related mismatch worth naming. An investor’s personal deposit history might be thin or erratic. This could make them look weak on a bank-statement file. Yet they might qualify cleanly using a rental property’s own cash flow instead. That’s the property-level path. It tests something entirely different than deposits do. Lendmire’s complete DSCR loans guide covers how that alternative works in more depth. Files documented on 12 months of statements follow the pattern described in Lendmire’s guidance on using 12 months of statements.
Bank Statement, DSCR, or Assets — Which Path Fits?
| Qualification path | Tests | Best fit |
|---|---|---|
| Bank statement | Personal or business deposit history | Self-employed borrower with strong deposits, weak tax-return AGI |
| DSCR (property-level) | Rental income against the property’s own payment | Investor whose personal income picture is complex or thin |
| Asset allowance | Liquid assets divided across 36, 60, or 84 months | High-net-worth borrower with strong liquidity, modest cash flow |
| Assets-only | Liquidity equal to loan plus costs, no DTI test | Borrower who wants qualification decoupled from income entirely |
The asset-based paths deserve a plain explanation, since they’re the most misunderstood alternative. Asset allowance divides a borrower’s liquid assets by 36 or 60 months as a supplemental income source, or by 84 months when it stands alone or the loan exceeds $3,500,000 — available on primary and second homes only, generally to 80% loan-to-value. Assets-only skips the debt-to-income calculation entirely, but it demands liquidity equal to the full loan amount plus closing costs, so it fits a narrower slice of borrowers than bank statement qualification does. Retirement accounts count toward these totals at a discount — commonly 70%, rising to 80% once the borrower is past 59½ — while business funds, gifts, and unvested stock generally don’t count at all.
For an investor who runs an operating business and also holds rental property, the choice often comes down to which side of the picture tells the stronger story: the business’s deposit history, or the rental portfolio’s own cash flow. There’s no single right answer — it depends on which set of numbers is cleaner.
What This Looks Like in Practice
Picture a borrower who runs a service business with no employees. They want a primary-residence purchase priced near the top of the portfolio program’s range. Their business account shows consistent monthly deposits. Because of this, the 20% service-business expense ratio applies. This is much lower than the steeper 50% default that a product-based business would face. That’s a meaningful difference in usable income, even with the same deposit totals.
A different borrower is closer to $5,000,000 and wants to use 12 months of statements rather than 24. That routes the file toward the bank portfolio program’s own ladder instead of the portfolio non-QM program, which changes both the leverage available and the review path — everything at that size gets a manual look before submission regardless of how strong the file looks on paper.
Here’s a third scenario. A borrower has substantial liquid assets but genuinely modest monthly cash flow. Maybe they’re recently retired, or living off investment income. For them, the asset allowance path may produce a cleaner coverage figure. This beats forcing a thin deposit history through bank-statement math. This is where a broker who can compare multiple programs earns their keep. A single lender’s page won’t tell a borrower when their file fits a different product better.
Investors weighing this against a straightforward rental purchase should also look at Lendmire’s guidance on using business bank accounts on a super jumbo file, which walks through the ownership-percentage and account-type rules in more detail than fits here.
Tax treatment can depend on how loan proceeds are used and how the property is titled — investors should keep clean records and talk to a qualified tax professional before relying on any deduction assumption.
Are you looking at a super jumbo purchase or refinance? Do you want to see which qualification path fits your income and assets? Lendmire can help. It compares bank statement, asset-based, and property-level options across its wholesale network. The comparison depends on loan size, credit profile, and leverage needs.
Frequently Asked Questions
Is a super jumbo bank statement loan the same as a jumbo loan?
No. Loan size determines jumbo status; documentation method determines non-QM status. A borrower can have a large jumbo loan fully documented on standard personal-income documentation, or a smaller conforming-size loan documented on bank statements. Super jumbo bank statement loans combine both departures at once — big, and documented on deposits rather than returns.
Do gross deposits count as income?
No, and this is the most common misunderstanding in the whole process. On business accounts, an expense ratio — typically 20%, 40%, or 50% depending on business type and employee count — gets applied before deposits become qualifying income. Personal account deposits are generally counted closer to full value since there’s no business overhead to net out.
What happens once a loan gets above $4,000,000?
It stops following standard matrix pricing and goes through case-by-case review before submission. That’s true across both wholesale programs in Lendmire’s network, and it applies regardless of how clean the deposit history looks.
Can an investor use this for a rental property instead of a primary home?
Yes, though leverage on second homes and investment properties typically runs about five points lower than the primary-residence figures at every loan size. Investors whose personal deposit history is weaker than their rental income might get a cleaner result from a property-level DSCR loan instead — the two products test different things entirely.
Which states offer this through Lendmire?
Consumer mortgage lending through this channel operates in 16 states — Alabama, California, Colorado, Florida, Georgia, Indiana, Michigan, Montana, New Mexico, North Carolina, Ohio, Pennsylvania, Tennessee, Texas, Virginia, and Washington. Program terms and availability are subject to lender guidelines and current underwriting standards.
For current guidelines and terms, see Lendmire’s super jumbo bank statement loan programs page.
Self-employed borrowers can compare both super jumbo programs on Lendmire’s self-employed mortgages page.
About Lendmire
Lendmire is a non-QM mortgage brokerage (NMLS# 2371349) arranging DSCR investor loans in 40 markets, including Washington, D.C., through wholesale and investor-lending channels. DSCR loans are evaluated by the lender on rental income rather than personal income, subject to lender guidelines — a fit for LLC-owned portfolios, self-employed investors, and operators scaling beyond conventional loan caps. Recognized as a Scotsman Guide Top Mortgage Workplace in 2025 and 2026.
Lendmire’s Top Mortgage Workplace recognition is documented by Scotsman Guide 2025 Top Mortgage Workplace and Scotsman Guide 2026 Top Mortgage Workplace.
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References
1. Consumer Financial Protection Bureau — ATR-QM Small Entity Compliance Guide
2. Fannie Mae Single Family — Appraiser Update June 2024
Brandon Miller
Founder & CEO, Mortgage Loan Originator, Lendmire LLC
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Disclosure information. Lendmire is a state-licensed mortgage brokerage under NMLS# 2371349. Lendmire is not a depository institution, direct lender, or financial advisor — all loans referenced are placed through wholesale lender partners and are subject to each lender's underwriting standards. This article is provided for general informational purposes and is not a commitment to lend, nor does it constitute financial, legal, or tax advice. Loan programs, terms, rates, and qualification standards change without notice and depend on borrower profile, property type, and the state in which the subject property is located. Equal Housing Opportunity provider. NMLS Consumer Access: nmlsconsumeraccess.org.
