The Quick Read: It depends on the program and on your liquid assets: loans in this family run from $300,000 to $30,000,000 through select wholesale programs, subject to full underwriting, but leverage steps down as the balance grows, and above $4,000,000 each file is reviewed case by case before submission. The top of that range belongs to a bank portfolio program built on twelve months of statements, so asset-based files at that size are reviewed individually. Your personal ceiling is whichever limit binds first: program size, leverage, or the assets left after closing. Leverage, reserves, and pricing vary by lender and program; the final terms follow the full file review.
- A portfolio non-QM program carries files to $6,000,000, and a bank portfolio program carries twelve-month-statement files to $30,000,000.
- On a primary-residence purchase, typical maximum leverage is 90% to $1,000,000, 85% to $2,000,000, 80% to $3,000,000, and 75% at the top credit tier to $4,000,000.
- The asset allowance path applies to primary and second homes only. Investment property usually moves to a bank statement or rental-income path.
- Down payment, closing costs, and reserves come out of your asset pool before any income is credited.
How Large Can the Loan Actually Get?
Across the wholesale network Lendmire works with, no single maximum applies to every asset-based borrower. Two programs sit behind the range, and each has its own size ladder.
The first is a portfolio non-QM program that carries files from $300,000 to $6,000,000. The second is a bank portfolio jumbo program that carries twelve-month-statement files up to $30,000,000. Its ladder begins above $4,000,000 and overlaps the portfolio program up to $6,000,000. Above $6,000,000 the bank program stands alone.
The bank program steps leverage down as size rises. It runs 65% to $5,000,000, 60% to $10,000,000, and 55% to $30,000,000. Interest-only structures on that program top out at 60% or the band’s ceiling, whichever is lower.
Those are program ceilings, not what any one borrower receives. The bigger the loan, the more the file depends on overlays, credit tier, and individual review. Every loan above $4,000,000 is reviewed case by case before submission, so treat any leverage figure at that size as a ceiling on review, not an offer.
How Do Your Assets Set the Loan Size?
Your assets set the loan size in three steps. The lender counts eligible liquid assets, subtracts what the transaction itself consumes, and converts the remainder into either qualifying income or a direct coverage test for the loan.
Most programs in the network offer two asset paths, and the choice matters for size.
Asset allowance divides eligible liquid assets by a set number of months to create monthly income. That income is added to whatever other income the borrower documents. The divisor depends on the file:
- 36 months when the asset income is supplemental and debt-to-income is at or below 60%.
- 60 months when it is supplemental and debt-to-income is above 60%.
- 84 months when it stands alone, or when the loan is above $3,500,000.
The divisor has a large effect. The 36-month path credits roughly one thirty-sixth of the pool each month. The 84-month path credits one eighty-fourth, which is less than half as much. Two borrowers with identical balance sheets can support very different loan sizes depending on which path their file lands on. Allowance is available on primary and second homes only, with leverage capped at 80%.
Assets-only drops the debt-to-income test. It asks whether your U.S. liquid assets equal the loan amount plus closing costs, plus sixty months of any net loss on other residential property you own. A $2,000,000 loan therefore needs liquidity of at least $2,000,000 plus costs on the statement. The tradeoff is capital that stays parked.
What counts is narrower than most borrowers expect. Cash, brokerage accounts, and similar liquid holdings count. Retirement accounts count at 70%, or 80% once the borrower is 59.5 or older. Business funds, gifts, trusts other than a revocable living trust, unvested stock, and cryptocurrency never count. Tax treatment can depend on how the funds are used and how the property is held; borrowers should keep clear records and speak with a qualified tax professional before relying on any deduction.
The down payment, closing costs, and required reserves leave the pool first. A dollar earmarked for the purchase cannot also support income, so loan size tracks total wealth rather than the monthly payment alone. Some borrowers assume they must sell holdings to use them this way. Lendmire’s piece Do You Have to Liquidate Assets to Reserve an Asset Qualifier Mortgage? covers that point in detail.
What Does Leverage Do as the Loan Grows?
Leverage is usually the first limit a larger loan hits. Through select wholesale programs, subject to full underwriting, maximum loan-to-value falls in steps as the balance rises, so a bigger loan needs a bigger share of your own money. That spends down the asset pool that was supposed to support the loan.
The table shows typical purchase ceilings by size band. Second homes follow their own ladder, so read their figures from that ladder rather than by subtracting from the primary column.
| Loan size | Primary residence purchase | Investment property purchase |
|---|---|---|
| $300K–$1M | Up to 90% | Up to 85% |
| $1M–$2M | Up to 85% | Up to 80% |
| $2M–$3M | Up to 80% | 80% to $2.5M, 75% above |
| $3M–$4M | 75% at top credit tier | Up to 60% |
| $4M–$6M | 65% to $5M, 60% to $6M, on review | 65% to $5M, 55% to $6M, on review |
Cash-out ceilings run lower than purchase ceilings at every size. On a primary residence the best cash-out cell is 80%, and it applies only below $1,000,000. Cash-out above 60% LTV on the portfolio program is capped at $1,500,000 cash in hand. Interest-only structures reach 85% on the portfolio program for purchase and rate-term files at a 700 credit score. That figure never raises a cash-out ceiling. Terms vary by lender guidelines, property type, leverage, credit profile, and full file review.
No loan above $1,000,000 gets 90%. Above $4,000,000, every figure in the table is a ceiling reviewed case by case, never a flat promise.
Which Limit Stops You First?
The limit that stops you first is usually leverage at the high end, reserves in the middle, and credit tier or overlays at the top. Running the checks in that order saves time.
1. Program size. Is the loan inside $300,000 to $6,000,000 for the portfolio program, or does it need the bank program’s ladder? Above $4,000,000, plan for individual review.
2. Leverage. Does the ladder’s ceiling for your size, occupancy, and purpose leave you a workable down payment?
3. Assets after closing. After the down payment, costs, and reserves, do enough eligible assets remain for your path?
4. Credit. The floor is 660 on the portfolio program and 680 on the bank program. It rises to 700 above the super-jumbo line, and the higher ladder cells ask for 720 or 760.
5. Reserves. These are typically 3 months to $500,000, 6 months to $1,500,000, and 9 months above that. Add 2 months per additional financed property, up to 12 months, and 12 months for first-time investors.
6. Overlays. Above $3,500,000 on a primary residence, and $3,000,000 on a second home or investment property, programs typically add a 700 credit floor and a 0x30x24 housing history. They also require 48 months of seasoning after a credit event, U.S. citizenship or permanent residency, no non-occupant co-borrowers, no rural property, and ten acres or less. Cash-out proceeds cannot satisfy reserves at that size.
Debt-to-income can run up to 50% on most files. For borrowers on the allowance path, additional debts shrink the loan the assets can carry.
Across the network, the files that stall at larger sizes usually do so on reserves and overlays, not on the headline asset total. A borrower with ample wealth held in business accounts or unvested stock often finds that little of it counts. Counting only eligible assets before choosing a price target prevents that surprise.
Does an Investor Qualify This Way?
An investor can use asset qualification when the property is a primary residence or second home, but the allowance path generally does not apply to investment property. That distinction decides whether this article’s numbers help you.
An investor buying a rental has other documentation paths. A bank statement path is reviewed on twelve or twenty-four months of deposits after an expense ratio. Business statements need at least 25% ownership. Transfers from the borrower’s own business into a personal account count in full, and a profit-and-loss method is capped at 80%. For a rental that covers its own payment, a DSCR loan is reviewed primarily on property-level rental income covering the payment, subject to lender guidelines. Lendmire’s complete DSCR loans guide covers how that test works.
Investment property carries lower leverage at larger sizes, as the table shows. Lendmire’s piece How Occupancy Type Moves the Ceiling on an Asset Qualifier Mortgage explains the step-down in more depth.
This is the point where the investor’s profile decides the answer. A founder who has just sold a business and holds the proceeds in brokerage accounts may fit the asset path for a new primary home. The same founder buying a rental will usually fit a bank statement or rental-income structure better. Mixing the two can work, but each loan is reviewed on its own occupancy.
What Does Not Cap the Loan?
No law sets a dollar cap on an asset-based mortgage. Federal ability-to-repay rules require a lender to consider the borrower’s current or expected income or assets, not counting the value of the home that secures the loan, according to the CFPB’s small entity compliance guide. The size limit therefore comes from each investor’s program, not from a statute.
The OCC’s bulletin on asset depletion underwriting describes the method as converting an applicant’s assets into a hypothetical income stream. It notes that banks often use it for high-net-worth applicants with significant liquid assets but insufficient cash flow. That is a description of how the method works, not a size limit.
Agency conforming limits are a separate system. The baseline for a one-unit home is $832,750, with a high-cost ceiling of $1,249,125, per NAHB’s summary of the FHFA announcement. Asset-based non-QM loans are not tied to those numbers, which is why files here can go far past them.
Key Terms Defined
Asset qualifier: A loan that qualifies the borrower on documented liquid assets rather than on tax-return income. Asset depletion and asset utilization describe the same idea.
Divisor: The number of months by which eligible assets are divided to create hypothetical monthly income. A longer divisor credits less income.
Eligible assets: Liquid holdings a program will count, usually cash, brokerage accounts, and a share of retirement accounts. Business funds and cryptocurrency are typically excluded.
Assets-only: A path that skips debt-to-income when liquid assets cover the loan, closing costs, and a cushion for losses on other residential property.
Super-jumbo line: The size above which overlays tighten and credit floors rise, set at $3,500,000 on a primary residence and $3,000,000 on a second home or investment property.
Reserves: Months of housing payments held in liquid form after closing, typically 3, 6, or 9 depending on loan size.
When Another Path Fits Better
Choose another path when your wealth sits in places the asset test ignores, or when the property is a rental. If your money is in a business, a bank statement program may count your deposits instead. If the property’s rent carries the payment, DSCR may fit even with thin personal assets.
The flip point is simple. If total eligible assets after closing are well short of the loan plus costs, and your deposits are strong, deposits usually win. If the leverage ladder forces a down payment that drains the pool, a smaller loan or a bank statement structure may leave you with better liquidity. The right answer depends on the investor profile, the property, and current lender guidelines.
Frequently Asked Questions
What is the smallest asset qualifier loan?
$300,000. Loans in this family start at that size and run to $30,000,000 through select wholesale programs, subject to full underwriting. At the small end, leverage is most generous, up to 90% on a primary-residence purchase. Anything above $4,000,000 is reviewed case by case before submission.
Can I use retirement accounts to qualify?
Yes, in part. Retirement accounts typically count at 70%, or 80% for borrowers aged 59.5 or older, under select programs. Nothing is withdrawn or sold to qualify. Business funds, gifts, unvested stock, cryptocurrency, and trusts other than a revocable living trust do not count.
Why do two lenders quote different maximums for the same borrower?
Each program sets its own divisor, leverage ladder, credit tiers, and overlays. A borrower on an 84-month divisor credits less income than one on a 36-month divisor. Comparing several programs matters, because the headline ceiling says little about the loan your own assets support.
Does a larger loan always need more assets?
Generally yes, and for two reasons. Leverage steps down as the balance rises, which raises the down payment. Reserves also rise from 3 months to 6 and then 9 as size increases. Both come out of the same pool that supports qualification.
Can an asset qualifier loan finance a rental property?
The asset allowance path is limited to primary and second homes. Investment property usually moves to bank statement or rental-income paths, with purchase leverage anywhere from the same as a primary residence to 15 points lower, depending on the size band.
Sizing Your Own File
If you are financing a high-balance property on business or personal bank statements and want to see how the numbers work, Lendmire can help you compare super jumbo bank statement loan options based on your deposits, the property, credit profile, leverage, and your goals. Consumer mortgage lending through Lendmire is available in 16 states: AL, CA, CO, FL, GA, IN, MI, MT, NM, NC, OH, PA, TN, TX, VA, and WA. Every file is underwritten individually, programs change, and nothing here is a commitment to lend.
Lendmire’s self-employed mortgages page presents both super jumbo programs, bank statement and DSCR, side by side.
About Lendmire
Lendmire is a non-QM mortgage brokerage (NMLS# 2371349) arranging DSCR investor loans in 41 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.
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References
1. CFPB ATR/QM Small Entity Compliance Guide
3. NAHB: Conforming Loan Limits (FHFA announcement)
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 Much Can You Borrow With an Assets-Only Mortgage? · How Asset Depletion Jumbo Loan Limits Work · How Tech Founders Qualify for a Jumbo Mortgage With Bank Statements
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.