The Quick Read: Yes, you can get a super jumbo loan the year after your exit with no income. Most super jumbo non-QM programs never ask for personal income in the first place, so there is no “waiting period” to satisfy. Qualification runs on bank deposits, liquid assets, or a property’s own rental cash flow instead of traditional personal-income documentation or a pay stub. What actually moves the needle as the loan gets larger isn’t how long ago you exited — it’s your credit depth, your reserves, and how cleanly the sale proceeds trace back to a real source of funds.
That last point trips up more borrowers than the timing question ever does. A founder who sold a company eight months ago and a founder who sold three years ago look almost identical on this kind of file, as long as both can document where the money came from.
Why the Timing of Your Exit Barely Matters
The short answer: super jumbo non-QM lenders underwrite the deposit history, the asset balance, or the property — not your calendar. There’s no “twelve months out of the business” rule waiting for you on the other side of a sale.
Traditional mortgages ask for two years of traditional personal-income documentation and a current job because they’re built around wages and salary. Selling a business, retiring, or cashing out equity breaks that model completely — your traditional personal-income documentation from last year describes income you no longer have, and this year’s return may show nothing at all. That’s precisely the gap non-QM programs were built to fill.
Across the wholesale programs we place files with, a borrower’s file gets built one of three ways: personal or business bank statement deposits over 12 or 24 consecutive months, liquid asset balances divided out over a set number of months, or — for an investment property — the rent the property itself generates. None of the three paths look at how recently you left your job or sold your equity. They look at what’s in the accounts and whether it holds up.
What “Super Jumbo” Actually Means
There’s no government rulebook for “super jumbo.” Lenders invent the term themselves, and each one draws the line somewhere different. The only figure with an actual regulatory anchor is the conforming loan limit — everything above that is “jumbo,” and somewhere further up, once a lender’s overlays get noticeably tighter, the market starts calling it “super jumbo.”
That threshold usually shows up somewhere north of the low-to-mid seven figures, though it varies by lender and by property type. Across the programs Lendmire’s wholesale network places, the super jumbo overlays generally kick in above $3,500,000 on a primary residence and above $3,000,000 on a second home or investment property. Above those marks you’re looking at a 700 credit floor, a clean 24-month housing payment history, and a 48-month waiting period after any serious credit event — tighter than what applies just below the line.
How the Loan Actually Gets Sized
Loan amounts through the two wholesale programs Lendmire works with run from $300,000 up to $30,000,000. A portfolio non-QM bank-statement program carries files to $6,000,000. A separate bank portfolio program, built around twelve-month statements, carries much larger files on its own size ladder — 65% loan-to-value up to $5,000,000, 60% up to $10,000,000, and 55% up to $30,000,000, with interest-only capped at 60% or the band’s ceiling, whichever is lower. That bank program’s ladder starts above $4,000,000 and runs alongside the portfolio program until $6,000,000, then stands on its own above that.
Every file above $4,000,000 goes through case-by-case review before it’s even submitted. That’s not a soft caveat — it’s how the programs are built. Nobody gets a flat “up to X%” promise at that size.
The Leverage Ladder on a Primary Residence
Leverage steps down as the loan gets bigger, and the credit floor steps up. Here’s how the primary-residence ladder runs through the programs Lendmire’s network places, expressed as maximum purchase LTV and the minimum credit score generally required at each size:
| Loan Size | Purchase LTV Ceiling | Credit Floor |
|---|---|---|
| $300K–$1M | 90% | 680+ |
| $1M–$2M | 85% | 700–720+ |
| $2M–$3M | 80% | 720+ |
| $3M–$4M | 75% | 720–760+ |
| $4M–$6M | 65% (case-by-case) | 680+ |
| $6M–$30M | 55–60% (bank program, case-by-case) | 680+ |
Second homes and investment properties generally run below the primary-residence figures at every size band, with the gap widening as loan size increases — an investment property purchase above $3,000,000, for instance, tops out well under the primary-home ceiling at the same loan amount. Cash-out is always the tightest number in the row, and above 60% loan-to-value, cash-out proceeds through the portfolio program cap out at $1,500,000; the bank program has no published cap of its own.
How the “No Income” Documentation Actually Works
There isn’t just one no-income path — there are three, and picking the right one depends on what kind of exit you had and what you’re buying.
Bank statement qualification uses 12 or 24 consecutive months of personal or business account deposits. If the statements come from a business account, you need at least 25% ownership in that business. Qualifying income is calculated as eligible deposits divided by the number of statement months, after applying an expense ratio — a fixed rate for a service business with no employees, a higher rate for a business with a small handful of employees, a still higher rate for larger staffed or product-based businesses, or a ratio your accountant provides instead. There’s also a profit-and-loss path, capped at a defined maximum expense ratio. If you’re transferring money from your own business into your personal account, that counts at full value.
Asset-based qualification skips deposit history entirely and looks at what you already hold. The asset allowance approach divides your liquid assets by 36 months, 60 months, or 84 months depending on your debt-to-income ratio and loan size — the 84-month division applies to any loan above $3,500,000, or when the asset path stands entirely on its own rather than supplementing other income. This route works on primary residences and second homes, up to 80% loan-to-value. A separate assets-only structure skips debt-to-income math altogether: you need U.S.-based liquid assets equal to the loan amount, plus closing costs, plus sixty months of any net loss you’re carrying on other residential property. Retirement account balances count at 70% (80% if you’re 59½ or older), but business funds, gifts, trusts other than a revocable living trust, unvested stock, and cryptocurrency don’t count toward the total at all.
The rental-income review framework applies when you’re buying a straight investment property rather than a home to live in. On this path the property’s own rent — not your bank statements, not your assets — carries the file. That’s the structure Lendmire’s complete DSCR loans guide walks through in more detail, and it’s worth understanding on its own if a rental purchase is part of your post-exit plan.
The Part People Forget: Credit, Reserves, and Sourcing
The credit floor is 660 on the portfolio program and 680 on the bank program — 700 once you’re above the super jumbo line. Debt-to-income can run as high as 50% on files where DTI still applies. Reserve requirements scale with loan size: three months of payments on loans up to $500,000, six months up to $1,500,000, and nine months above that, plus two additional months of reserves for every other financed property you own, up to a twelve-month maximum. First-time real estate investors are generally held to the full twelve months regardless of loan size.
Above the super jumbo overlay line, the requirements tighten further: a clean 0x30x24 mortgage or rent history, a 48-month wait after any credit event, U.S. citizenship or permanent residency, no non-occupant co-borrowers, no rural property, a ten-acre lot maximum, and — this one catches people — cash-out proceeds from the loan itself can’t be used to satisfy your reserve requirement. Every figure here varies by lender and program — guidelines, property type, leverage, and credit profile all apply.
Say you sold a business for eight figures fourteen months ago and want to buy a $4.2 million primary residence. Your liquid assets are strong, your credit is clean, but the file is above the super jumbo line and above the $4,000,000 case-by-case threshold at the same time. Nothing about that combination is disqualifying — it just means the underwriter is going to look hard at where the eight figures came from, how it’s held, and whether the reserve math clears without leaning on the loan proceeds themselves. This is where files with recent equity events tend to slow down: not because the income is missing, but because the money trail needs to make sense on paper.
Where the “No Income” Story Still Has Limits
None of this means documentation disappears — it just changes shape. Underwriters still review your bank statements for large or unusual deposits and generally want a short written explanation when something doesn’t match the pattern. That’s true whether you exited a business eight months ago or eight years ago; it’s a source-of-funds check, not an income check.
If your exit generated a large K-1 that hasn’t been distributed yet, that’s a different documentation problem than a straight cash sale — Lendmire’s guide on undistributed K-1 income for super jumbo qualification walks through how lenders in the network treat that scenario specifically. And if a file is large enough or unusual enough that even the non-QM bank programs pass on it, super jumbo hard money lending with no stated maximum is the fallback most investors haven’t heard of yet.
If you’re buying a rental property rather than a home, and the property itself throws off enough rent to cover its own payment, the loan is reviewed differently from an owner-occupied mortgage because it’s treated as business-purpose financing rather than consumer credit. CFPB Regulation Z is what draws that line for non-owner-occupied rental property — that’s a legal classification, not a Lendmire program feature, but it’s the reason a straight rental purchase can qualify without your income entering the conversation at all.
Key Terms Defined
Super jumbo loan — an industry term, not a government one, for a mortgage well above the conforming loan limit where a lender’s overlays get noticeably tighter than standard jumbo lending.
Bank statement loan — a mortgage that is reviewed around 12 or 24 months of bank deposits instead of traditional income documentation or pay stubs.
Asset depletion (asset allowance) — a qualification method that divides your liquid assets by a set number of months to produce an usable “income” figure for underwriting.
Reserves — the number of months of housing payments a lender wants you to hold in savings after closing, on top of your down payment and closing costs.
Seasoning — the length of time funds, credit events, or ownership need to “age” before a lender will count them cleanly.
Non-QM — short for non-qualified mortgage; a loan that falls outside the standard federal Qualified Mortgage rules, which is what allows alternative documentation in the first place.
Loan-to-value (LTV) — the loan amount expressed as a percentage of the property’s value or purchase price; a lower LTV means more of your own money in the deal.
Common Misconceptions
“No income loan” means no verification at all. It doesn’t. Bank statements, asset balances, reserves, and credit history are all still reviewed closely — the difference is that none of it comes from a W-2 or a tax return.
Non-QM borrowers are riskier borrowers. The data says otherwise. Non-QM borrowers carried an average FICO score of 776 in the most recent full year of data, essentially matching conventional conforming borrowers, according to Scotsman Guide.
A recent job loss or business sale disqualifies you the way it would on a conventional mortgage. On a business-purpose rental purchase specifically, it doesn’t factor in at all — the property carries the file, not your employment history.
“Jumbo” and “super jumbo” are both official categories. Only the conforming loan limit is government-set. Super jumbo is market shorthand that shifts from lender to lender.
Frequently Asked Questions
Do I need to wait a full year after selling my business before applying?
No. There’s no standard waiting period tied to an exit event on bank statement, asset-based, or rental-income review framework. What matters is whether your deposit history, asset balance, or property cash flow is clean and traceable at the time you apply — not how long ago the sale closed.
Will a large one-time deposit from my exit hurt my application?
It shouldn’t hurt it, but it will likely trigger a request for a short written explanation and supporting paperwork — a closing statement, a wire confirmation, something that shows the source. Underwriters aren’t accusing you of anything; they just need the money trail to hold together.
Can I use unvested stock or a pending earnout as part of my asset base?
Generally, no. Unvested stock doesn’t count toward liquid asset totals on these programs, and neither do trusts other than a revocable living trust. Vested, liquid holdings and settled cash are what carry the file.
Is a rental property purchase treated differently than buying a home to live in?
Yes. A straight investment property purchase can qualify on the rent the property produces, reviewed as business-purpose financing rather than a personal mortgage, subject to lender guidelines. A primary or second home relies on your bank statements or assets instead, since there’s no rental income to lean on.
What’s the biggest reason a post-exit super jumbo file gets held up?
Almost always it’s sourcing, not income. Underwriters want a clean paper trail from the sale to the account, especially on files above the $4,000,000 case-by-case threshold, where every leverage figure gets a fresh look before submission.
If you’re weighing a home purchase, a rental buy, or a refinance in the year after an exit and want to see which documentation path actually fits your file, Lendmire can walk through the bank statement, asset-based, and rental-income options side by side, based on your credit, your liquidity, and what you’re buying. Lendmire’s consumer-facing bank statement and asset-based lending currently operates in 16 states, while its separate DSCR investor-loan network reaches a wider footprint for business-purpose rental files. Reach Lendmire at 828-256-2183 to talk through where your numbers land.
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.
Self-employed borrowers can compare their options on Lendmire’s self-employed mortgages page.
About Lendmire
Lendmire (NMLS# 2371349) is a mortgage brokerage built around DSCR investor lending, with programs available in 41 markets, including Washington, D.C. DSCR lenders commonly evaluate rental-income coverage instead of personal income paperwork — a practical fit for LLC-owned and multi-property investors. Terms vary by lender, property, leverage, and program. Scotsman Guide named Lendmire a Top Mortgage Workplace in both 2025 and 2026.
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References
1. CFPB — Regulation Z, §1026.3 Exempt Transactions
2. Scotsman Guide — Which Groups Are Driving Non-QM Lending
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 Finance A Super Jumbo Home The Year You Exited Your Business · Can A Post-exit Founder Build With A Super Jumbo Bank Statement Loan? · How A Founder Funds A Rental With Super Jumbo Cash-out?
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.