Close A Super Jumbo Bank Statement Loan — The Quick Read: After a business sale, exercised equity, or a legal settlement, most borrowers qualify for a super jumbo loan through bank statement deposits or through their liquid assets — not a tax return. The path depends on whether you still have cash flow coming in or just a pile of proceeds. Leverage steps down as loan size climbs, and case-by-case underwriting takes over above $4,000,000. Getting the paper trail on the liquidity event right, early, is what actually decides the file.
Big life event, bigger mortgage math problem. Sell a company, exercise a chunk of stock, or settle a lawsuit, and your traditional personal-income documentation suddenly say nothing true about your ability to carry a mortgage. That’s exactly the gap bank statement and asset-based loans were built to close.
Key Terms Defined
Bank statement loan — a mortgage that qualifies income from deposit history on personal or business bank statements instead of traditional personal-income documentation.
Asset depletion (asset utilization) — a method that turns liquid assets into a monthly qualifying income figure by dividing the asset balance by a set number of months.
Super jumbo — a jumbo mortgage well above standard jumbo size, generally understood to start somewhere north of $3 million, though the line isn’t set by any regulator and varies by lender.
Seasoning — the length of time money has to sit in an account, documented, before a lender treats it as a genuine asset rather than a source of hidden debt.
DSCR (debt service coverage ratio) — for a rental property, the ratio of rent to the property’s monthly obligation; it’s how a rental purchase can qualify off the property’s own cash flow.
Two Ways to Qualify After the Money Lands
There are two real paths after a liquidity event, and picking the wrong one wastes months. Bank statement qualification works if you still have recurring income. Asset depletion works if you don’t — and it turns your proceeds themselves into a monthly income number for underwriting.
Path one: bank statement income. Across the wholesale network, files run on 12 or 24 consecutive months of personal or business bank statements, with an expense ratio knocked off deposits before income is calculated. That ratio varies by business type — a lean operation with no employees tends to land on the lower end of the range, a business with staff runs somewhat higher, and a bigger operation, or any product-based business, sits toward the top of the range. Transfers from your own business account into your personal account count in full — no discount. This path fits someone who exited a business but immediately started consulting, launched a new venture, or still collects distributions.
Path two: asset depletion. This is the bridge product for someone who just cashed out and has no active income yet. The math: take eligible liquid assets, subtract the down payment, closing costs, and required reserves, then divide by a set number of months to get a monthly qualifying income figure. Across programs seen in the network, that divisor runs 36 months (when it’s a supplemental income source and debt-to-income stays at or below 60%), 60 months (supplemental, DTI above 60%), or 84 months — the 84-month divisor is used standalone, or on any loan above $3,500,000. A longer divisor spreads the same asset pool thinner and produces a smaller qualifying income number; a shorter divisor produces a bigger one. That single number — the divisor — is the entire ballgame on an asset-depletion file.
One wrinkle worth knowing up front: operating equity in a business you still own isn’t depletable. Only money that actually left the business and landed in a liquid account — sale proceeds, a settlement, a real distribution — counts.
What Actually Gets Sized and Leveraged
Loan amounts through the wholesale network run from $300,000 up to $30,000,000, spread across two separate programs — a portfolio bank-statement program that carries files to $6,000,000, and a bank portfolio program built for twelve-month-statement borrowers that has its own size ladder running to $30,000,000. That second ladder steps down as size grows: roughly 65% loan-to-value to $5,000,000, 60% to $10,000,000, and 55% out to $30,000,000, with interest-only capped at 60% or the band’s ceiling, whichever is lower.
Leverage on a primary residence steps down the bigger the loan gets. Broad strokes, subject to underwriting through select wholesale programs:
| Loan Size | Purchase LTV (approx.) | Credit Floor |
|---|---|---|
| $300K–$1M | up to 90% | 680+ |
| $1M–$2M | up to 85% | 700–720+ |
| $2M–$3M | up to 80% | 720+ |
| $3M–$4M | up to 75% | 720–760+ |
| $4M–$6M | case-by-case, roughly 60–65% | 680+ |
| $6M–$30M | case-by-case, 50–60% ladder | 680+ |
Above $4,000,000, every file goes to case-by-case review before it’s even submitted. At that size, the leverage figures are ceilings, not guarantees. Second homes and investment properties generally run about five points lower in leverage than the primary-residence numbers above, at every size tier. And above $3,000,000 on those occupancy types, the same case-by-case overlay kicks in.
Above roughly $3,500,000 on a primary home, or $3,000,000 on a second home or rental, tighter overlays apply across the board: a 700 credit floor, a clean 24-month housing and payment history, 48 months of seasoning on any past credit event, U.S. citizenship or permanent residency, no non-occupant co-borrowers, and no rural property. Cash-out proceeds can’t be counted toward reserves at that size, either. Exact terms depend on lender and investor guidelines, credit profile, reserves, and property review.
Sourcing and Seasoning the Windfall Itself
This is where most files stall — not the income math, the paper trail on the deposit. Underwriters don’t just tally deposits; they trace them, and anything that looks like a one-time event gets pulled aside for a closer look.
For an entity sale, expect to produce a closing or settlement statement, documentation of ownership percentages if more than one person or entity was involved, and a clear explanation of the sale timing. If multiple entities were part of the deal, operating agreements or corporate records may be needed to show who owned what.
Deposits without a clean paper trail at the time they hit the account typically face a seasoning window — commonly around 60 days — before a lender treats the funds as genuine assets rather than possible undisclosed debt. Seasoning and sourcing are two separate hurdles, not one. Even money that’s sat in the account for two months can still draw a request for an explanation if the deposit size looks unusual relative to the rest of the file.
Retirement account balances get a haircut, too. Under age 59½, commonly around 70% of the balance counts toward eligible assets; that share rises once you cross that age threshold. Non-vested or privately traded stock, business-titled funds, and most trust assets other than a revocable living trust generally don’t count toward eligible assets at all.
Every borrower on a no-tax-return file still signs an IRS Form 4506-C. This authorizes the lender to request tax transcripts through a third-party IVES participant — lenders can’t pull transcripts directly. This is a compliance backstop. It’s not proof that the loan runs on traditional personal-income documentation. Per one industry explainer, the IRS targets roughly a 72-hour turnaround on those requests, excluding weekends and holidays.
What Trips Up These Files
Across the files this program sees, a few patterns repeat. Multiple large, unexplained deposits in the same statement set slow underwriting even when each one is eventually explained — they don’t usually kill a deal, but they add rounds of back-and-forth. Retirement funds pledged as collateral on a securities-backed line of credit get netted against that balance, which can erase most of the depletion benefit an investor was counting on. And reserves stack fast on a big loan — expect roughly 3 months of reserves to $500,000, 6 months to $1,500,000, and 9 months above that, plus 2 additional months for every other financed property you own, up to a 12-month cap. First-time real estate investors face a flat 12-month reserve requirement regardless of loan size.
Cash-out is capped, too. On the portfolio program, proceeds above 60% LTV are limited to $1,500,000 cash in hand; below that leverage point, proceeds aren’t capped the same way. The bank program doesn’t publish a hard cap on cash-out at all, though every file is still underwritten individually. Terms vary by lender guidelines, property type, leverage, credit profile, and full file review.
Where a Rental Purchase Changes the Math
If you’re financing a rental instead of a primary residence, the whole documentation question can shift entirely. A DSCR loan qualifies primarily on the property’s own rental income covering its monthly obligation, subject to lender guidelines. It doesn’t rely on personal bank statements or traditional income documentation at all. Say you just exited a business and don’t want to wait out a seasoning period on personal funds before buying a rental. This route can get you into the deal faster, because the file leans on the appraiser’s rent schedule rather than your income history.
For single-family or condo rentals, the appraisal typically uses Fannie Mae’s Form 1007 rent schedule to set the market rent. Appraisers only estimate rent — they don’t weigh in on the borrower’s actual business income, and that stays out of scope on the form. For 2-4 unit properties, lenders use a comparable small-multifamily income form instead. DSCR loans are business-purpose investor loans, so they get reviewed differently than a standard owner-occupied mortgage. They also sit outside the ordinary consumer-mortgage disclosure timeline that applies to owner-occupied purchases.
Say you just had a liquidity event and you’re weighing a rental purchase against a primary-residence purchase. This is a real tradeoff. The primary-residence bank statement or asset-depletion path leans on your own deposits and assets. A DSCR purchase leans on the property instead. Rental purchases through the wholesale network sit lower in size. Their leverage generally runs a notch below primary-residence numbers at comparable size tiers. Before you decide which loan type fits which property, it’s worth comparing DSCR loans versus bank statement loans side by side.
Why Not Just Pay Cash?
After a liquidity event, it’s tempting to just write a check. But if you park a large share of freshly liquid capital into one illiquid property, that money can’t work anywhere else — not in another acquisition, a market position, or a reserve fund. Financing the purchase off documented proceeds, instead of liquidating them outright, keeps that capital deployable elsewhere while the property still closes. Capital gains exposure and lost compounding are real costs of an all-cash purchase made purely to look “clean” to an underwriter. Often, that’s unnecessary once a documented bank statement or asset-depletion path is available.
Tax treatment can depend on how funds are used and how a property is held; investors should keep clear records and speak with a qualified tax professional before relying on any deduction.
This article is for general educational purposes and isn’t legal or tax advice. Anyone weighing a liquidity-event financing decision should talk with a qualified attorney or CPA about their specific situation before acting.
Frequently Asked Questions
Does a large deposit automatically disqualify me? No. A flagged deposit usually just needs an explanation and supporting paperwork — a bill of sale, a settlement statement, a closing statement from a business sale. It slows the file down more than it sinks it, as long as the money can be traced to something real.
Can I use unvested stock or cryptocurrency as qualifying assets? Generally, no. Across the programs in this network, unvested or restricted stock and cryptocurrency don’t count toward eligible assets, and business-titled funds and most trusts other than a revocable living trust are excluded too.
What happens above $4,000,000? Every file above that size moves to case-by-case underwriting before it’s even submitted. Leverage figures at that tier are ceilings subject to review, not standing offers, and credit and reserve requirements tighten alongside them. Exact terms depend on the lender’s guidelines, property type, leverage, and a full review of the borrower’s file.
Is seasoning the same thing as sourcing? No — they’re related but separate. Seasoning means the money has sat in the account for a set period, commonly around 60 days. Sourcing means you can document where it came from. Money can be seasoned and still draw a request to explain its origin.
Can I qualify a rental purchase without touching my personal bank statements at all? Often, yes. A DSCR purchase is reviewed primarily on the property’s rental income covering the payment, subject to lender guidelines — it doesn’t require the same personal deposit or asset documentation a primary-residence bank statement loan does.
After a liquidity event, you need to decide how to structure your financing. This applies whether you’re buying a primary residence, a second home, or a rental property. Lendmire can help you compare options across select wholesale lenders. The right fit depends on your documentation path, credit profile, leverage needs, and timeline.
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, NMLS# 2371349, is a non-QM mortgage broker serving real estate investors in 40 markets, including Washington, D.C., through DSCR investor loan programs. Qualification is generally reviewed around the subject property’s rental income, not the borrower’s W-2 history — a practical fit for LLC-titled portfolios and self-employed investors. All scenarios remain subject to lender review and program guidelines. Two consecutive Scotsman Guide Top Mortgage Workplace recognitions (2025, 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
2. Beancount.io – Form 4506-T/4506-C Guide
3. Fannie Mae – Single Family Comparable Rent Schedule (Form 1007)
Brandon Miller
Founder & CEO, Mortgage Loan Originator, Lendmire LLC
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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.
