Super Jumbo Bank Statement Loans

Self-employed buyers whose tax returns understate real income often qualify instead on 12 or 24 months of bank deposits.

Personal deposits usually count close to face value. Business deposits get trimmed by an expense factor before they count as qualifying income.

Once rental income becomes the point of the purchase, the file moves to a different structure entirely.

– Occupancy, not the loan product’s name, decides whether a purchase is a second home, a primary residence, or an investment property.

Santa Barbara is the example here, but the mechanics below apply anywhere a self-employed buyer is chasing a personal-use vacation property.

– Bank statement loans calculate income from 12 or 24 months of deposits, not W-2s or federal tax returns.

The distinction matters because picking the wrong loan category can stall a file or force a costly reclassification later.

This piece walks through the mechanics, the two wholesale ladders that carry these loans, and where the general rules bend.

Underwriting looks at deposit history over 12 or 24 months rather than adjusted gross income.

This works for a primary residence, second home, or investment property.

Underwriters build income from 12 or 24 months of deposits, not a Schedule C.

Above $4,000,000, every file gets reviewed case by case before submission.