The Quick Read: It depends on the program track and the loan size, because interest-only files through select wholesale programs run from $300,000 into the $30,000,000 range, and the allowed leverage shrinks as the balance climbs, so everything above $4,000,000 is reviewed case by case before submission. No single dollar figure answers the question. The ceiling is really two limits working together: a size band and an interest-only leverage cap. Each figure is subject to lender guidelines and a complete review of property type, leverage, and credit.
- Portfolio non-QM program: files run to $6,000,000, with interest-only up to 85% LTV on a purchase or a refinance without cash out, a 700 credit floor, and a 40-year term with a 10-year interest-only period.
- Bank portfolio program: twelve-month-statement files run to $30,000,000, with interest-only at 60% LTV or the band’s ceiling, whichever is lower, reviewed case by case.
- The binding limit is the lower one: the interest-only cap or the leverage cell for your loan size, whichever is smaller.
- Past the super-jumbo line: a 700 credit floor and tighter overlays apply, all subject to full underwriting. Leverage, reserves, and pricing vary by lender and program; the final terms follow the full file review.
This is for founders, physicians, attorneys, entertainers, athletes, and investors whose traditional personal-income documentation understates what they earn. Every figure below is a ceiling available through select wholesale programs, subject to full underwriting. None of it is a commitment to lend.
Key Terms Defined
Super jumbo: a loan large enough that a lender applies extra overlays. No agency or regulator draws the line. Across the wholesale network Lendmire works with, the overlays begin above $3,500,000 on a primary residence and $3,000,000 on a second home or investment property.
Bank statement loan: a mortgage that is reviewed around deposits in your bank accounts instead of traditional personal-income documentation.
Non-QM: a loan that falls outside the standard Qualified Mortgage box. Loans with interest-only payments land here by definition.
Interest-only period: the stretch of years when your payment covers interest and the balance stays flat.
Recast (or reset): the point when the interest-only period ends. The payment steps up because the balance is repaid over the remaining term.
LTV: loan-to-value, the loan amount as a percentage of the property’s value.
Expense ratio: the share of business deposits the lender treats as operating costs before counting income.
Reserves: liquid savings, counted in months of payments, that you must hold after closing.
Case-by-case review: an individual look at your file before it goes to a lender, instead of a posted formula.
Why Is There No Single Maximum?
There are two programs behind these loans, and each has its own size range and its own interest-only rules. Quoting one number hides that. The first is a portfolio non-QM bank-statement program that carries files to $6,000,000.
The second is a bank portfolio program. Its ladder begins above $4,000,000, so the two overlap up to $6,000,000. Above $6,000,000 the bank program stands alone. Lendmire is a broker that shops these programs side by side, which is why the same borrower can get different leverage depending on which track fits the file.
Agency conforming limits do not decide any of this. For context, the FHFA’s 2026 conforming baseline for a one-unit property is $832,750, and anything above the local limit is simply jumbo. Those limits govern a different product with different rules. Here, each investor sets its own appetite, and that appetite is what you are really asking about.
The Ceiling at a Glance
| Track | Size range | Interest-only structure | Interest-only leverage cap |
|---|---|---|---|
| Portfolio non-QM program | $300,000 to $6,000,000 | 40-year term, 10-year interest-only | Up to 85%, 700 credit floor |
| Bank portfolio program | Ladder starts above $4,000,000; alone above $6,000,000, to $30,000,000 | 5- and 7-year fixed-period adjustables | 60% or band ceiling, lower |
The 85% cap applies to purchases and refinances without cash out. It does not raise a cash-out ceiling, which sits lower on every row of the ladder.
Term matters too. A 10-year fixed-period adjustable on the bank program is fully amortizing from day one, with no interest-only window. A borrower who wants interest-only has to pick the 5- or 7-year structure.
How Does Loan Size Change Your Leverage?
Leverage generally runs lower as the loan grows, and credit requirements climb for the best cells. Pricing and available terms vary by lender, borrower profile, property type, and full underwriting review.
| Loan size | Primary residence purchase | Investment property purchase |
|---|---|---|
| $300K to $1M | Up to 90% | Up to 85% |
| $1M to $2M | Up to 85% | Up to 80% |
| $2M to $3M | Up to 80% | 75% to 80% |
| $3M to $4M | Up to 75% (top credit tier) | Up to 60% |
| $4M to $5M | Up to 65%, on review | Up to 65%, on review |
| $5M to $10M | Up to 60%, on review | Up to 55%, on review |
| $10M to $30M | Up to 55%, on review | Up to 50%, on review |
Read each row on its own. On investment property the $4M to $5M cell (65%) sits above the $3M to $4M cell (60%), because a different program’s ladder governs that band and every figure there is reviewed case by case.
These are the ladder’s purchase ceilings. The interest-only structure then caps the loan at the lower of the cell and its own limit, so in the smallest primary-residence band an interest-only file tops out at 85%, the portfolio program’s interest-only ceiling. Second homes and investment property take their own ladders, so read each figure from the occupancy’s own column.
Credit climbs with the balance. The best cells in the middle of the ladder usually ask for 700 to 720, and the $3,500,000 to $4,000,000 primary-residence cell wants 760. The portfolio program’s interest-only structure carries its own 700 floor. Reserves step up as well: 3 months to $500,000, 6 months to $1,500,000, and 9 months above that. Each additional financed property adds 2 months, to a 12-month maximum, and first-time investors hold 12 months.
Debt-to-income can run to 50% on most files. Because interest-only keeps your payment lower early on, it can help you fit under that line.
What Changes at the Very Top?
Above $3,500,000 on a primary residence, and above $3,000,000 on a second home or investment property, the overlays tighten together. On the programs in Lendmire’s network, a file in that range typically faces these conditions:
- A 700 credit floor
- A clean housing history, with no 30-day lates in the past 24 months
- 48 months of seasoning after any credit event
- U.S. citizens and permanent residents only
- No non-occupant co-borrowers
- No rural property, and ten acres at most
- Cash-out proceeds that cannot count toward reserves
Above $4,000,000, the broker reviews your file case by case before it is submitted. Expect close scrutiny of credit, reserves, and the appraisal, and sometimes more than one appraisal. Treat any leverage figure at that size as a ceiling on review, not a posted promise.
How Does Bank Statement Income Qualify a Loan This Large?
You qualify on 12 or 24 consecutive months of personal or business bank statements. The bank program uses 12. Transaction histories never substitute for statements. Per the Scotsman Guide, bank statement programs are built on 12 to 24 months of deposits, reflecting cash flow rather than traditional personal-income documentation.
Income equals eligible deposits divided by the statement months, after an expense ratio. For business statements, you need at least 25% ownership. The fixed expense ratios are:
- The lowest fixed expense ratio applies to a service business with no employees.
- A higher ratio applies to a business with one to five employees.
- The highest ratio applies to a business with six or more employees, or any product business.
An accountant-provided ratio is another option. So is a profit-and-loss method capped at 80%. Transfers from your own business into your personal account count at 100%, which helps owners who pay themselves that way.
Deposits are not the only path. An asset allowance divides your liquid assets by 36, 60, or 84 months, depending on your debt-to-income and the loan size. It works on primary and second homes only, at 80% maximum. An assets-only path needs no debt-to-income test. It requires U.S. liquid assets equal to the loan amount, closing costs, and sixty months of any net loss on other residential property. Retirement accounts count at 70%, or 80% at age 59 and a half. Business funds, gifts, cryptocurrency, and unvested stock never count.
On an investment property, a DSCR loan is a different route. It qualifies primarily on property-level rental income covering the payment, subject to lender guidelines. The complete DSCR loans guide explains when that path beats statements. Programs below 1.00 coverage are available through select lenders in the network, though LTV and terms adjust.
A Worked Example: Reading Your Own Ceiling
Run the numbers on a $4,500,000 investment purchase, using modeled assumptions rather than market data.
That price sits in the $4,000,000 to $5,000,000 band. The investment ladder allows up to 65% on a purchase there, on review, and the best cell asks for 760 credit. The bank program’s interest-only cap is 60%, so the binding limit is 60%. You plan for a down payment of at least 40%.
Because the loan is above $4,000,000, the 700 floor and the overlays above apply, and the file gets reviewed before submission. Reserves run at the 9-month tier. If you plan to pull cash from another property to fund the check, remember that cash-out proceeds cannot satisfy reserves.
Now picture the reset. On a 5- or 7-year structure, the balance has not shrunk by the end of the interest-only window. The payment then steps up, because principal is repaid across the remaining term. At a balance this size, the jump can be large. Test affordability against the post-reset payment, not the interest-only one.
Does Purchase, Cash-Out, or Property Type Change the Answer?
Yes. Cash-out ceilings sit below purchase ceilings at every size. On a primary residence, cash-out tops out at 80% in the smallest band and falls from there. The portfolio program caps cash-in-hand at $1,500,000 above 60% LTV, while proceeds at or below 60% are unlimited. The bank program publishes no cash-out cap. Terms vary by lender guidelines, property type, leverage, credit profile, and full file review.
Property type moves the ceiling too:
- Warrantable condos can reach 85%, and non-warrantable condos 80%.
- Condotels run 75% on a purchase and 65% on cash-out, or 50% on the bank program.
- Two- to four-unit properties can reach 85%, and second homes must be one unit.
- Rural property reaches 80% on ten acres or less, never above $3,000,000.
- Texas 50(a)(6) home-equity loans take a 5-point LTV reduction and stop at $3,000,000 on the portfolio program.
Consumer mortgage lending through Lendmire is licensed in 16 states, so availability on a primary or second home depends on where the property sits.
Why Is Interest-Only Allowed on a Loan This Big?
Interest-only payments disqualify a loan from Qualified Mortgage status, which makes these loans non-QM. The CFPB’s General QM final rule restates that a QM cannot have interest-only payments or run past 30 years. Non-QM does not mean prohibited. The size limit is a risk-appetite limit set by lenders and loan buyers, not a legal ceiling.
The federal ability-to-repay standard asks lenders to make a reasonable, good-faith determination of repayment ability. It is a standard, not a loan-size cap. Loans on non-owner-occupied rentals are business-purpose investor loans, so they are reviewed differently from a standard owner-occupied mortgage. Lenders still stress-test these files to protect themselves and their buyers.
The trend is also worth knowing. The Scotsman Guide’s decade review reports that the share of non-QM loans missing QM because of interest-only features fell by nearly half from 2020 to 2024. Interest-only is a minority feature, not the norm.
Is Interest-Only Worth It at This Size?
Interest-only improves early cash flow and coverage on the payment line. It does not reduce risk. At a very large balance, the loan stays flat for years, so leverage risk stays too.
Three trade-offs matter most:
1. Equity check: a bigger purchase needs more cash down, because the interest-only cap falls as the size rises.
2. Reset risk: you need a sale or refinance plan before the interest-only window ends, and a refinance may not be available on your timeline.
3. Slower equity growth: you build equity only through appreciation until the balance starts to amortize.
The structure fits best on a shorter hold, or when your income is strong but irregular. Tax treatment varies, so speak with a qualified tax professional before relying on any deduction.
How Can You Tell If Your Target Size Is Realistic?
Work through it in order:
1. Pick the occupancy. Primary residence, second home, and investment property each have their own ladder.
2. Find your size band. Look up the leverage cell for your price and your transaction type.
3. Apply the interest-only cap. Take the lower of that cell and 85% on the portfolio program, or 60% on the bank program.
4. Check credit. Compare your score to the score the cell’s top leverage needs, which runs from 680 toward 760 in some bands.
5. Size reserves. Count 3, 6, or 9 months, plus extra months for other financed properties.
6. Choose your income path. Statements, assets, or property cash flow each have different math.
7. Plan the reset. Decide how you will handle the payment when the interest-only window closes.
Above $4,000,000, every step gets confirmed by case-by-case review before anything is submitted.
Frequently Asked Questions
What is the maximum loan amount for an interest-only super jumbo bank statement loan?
Through select wholesale programs, files run from $300,000 up to $30,000,000, split across two tracks. The portfolio non-QM program carries files to $6,000,000, and the bank portfolio program carries twelve-month-statement files to $30,000,000. Interest-only leverage tops out at 85% on the portfolio program and 60% on the bank program. Exact terms depend on the lender’s guidelines, property type, leverage, and a full review of the borrower’s file. Files above $4,000,000 are reviewed case by case, subject to full underwriting.
Can I take cash out and use interest-only on the same loan?
The interest-only cap never raises a cash-out ceiling. Cash-out follows its own, lower column of the ladder, and the best cell on a primary residence is 80%. On the portfolio program, cash-in-hand is also capped at $1,500,000 above 60% LTV. Cash-out proceeds cannot count toward reserves on loans above the super-jumbo line. Every figure here varies by lender and program — guidelines, property type, leverage, and credit profile all apply.
Does every loan term allow interest-only?
No. The portfolio program pairs a 40-year term with a 10-year interest-only period. The bank program offers 5- and 7-year fixed-period adjustables with interest-only. A 10-year fixed-period adjustable on the bank program is fully amortizing, so it has no interest-only window.
Do I need traditional income documentation to qualify?
No. A bank statement loan is reviewed on documented income under the applicable program, subject to lender guidelines, using 12 or 24 months of consecutive statements. Asset-based paths and profit-and-loss methods exist for some borrowers. For an investment property, a DSCR loan is reviewed primarily on property-level rental income covering the payment.
What credit score do I need at this size?
The portfolio program starts at a 660 floor and the bank program at 680. Interest-only on the portfolio program needs 700, and so does any loan above the super-jumbo line. The best leverage cells in the middle of the ladder often ask for 720, and some at the top ask for 760.
What Is the Next Step?
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. Your real ceiling shows up once someone runs your deposits against the right ladder.
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. DSCR eligibility is generally reviewed around property-level rental income rather than personal income, subject to lender and program guidelines, a fit for self-employed investors and LLC-owned portfolios. Lendmire was recognized as a Scotsman Guide Top Mortgage Workplace in 2025 and 2026.
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References
1. Orrick InfoBytes: FHFA 2026 conforming loan limits
2. Scotsman Guide: one out of 20 mortgages are non-QM
4. Scotsman Guide: non-QM loans a decade later
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 Qualify for a Super Jumbo Bank Statement Loan in Florida · How to Document a Super Jumbo Bank Statement Loan as a Founder or Realtor · How to Document a Super Jumbo Bank Statement Loan After a Company Sale
Brandon Miller
Founder & CEO, Mortgage Loan Originator, Lendmire LLC
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- Lendmire LLC · Firm NMLS# 2371349 · Verify firm licensure
Required disclosures. Lendmire (NMLS# 2371349) operates as a licensed mortgage broker, not a direct lender or depository. The discussion in this article is general in nature and should not be relied upon as financial, legal, or tax advice — every investment scenario is unique and should be reviewed by a qualified professional. Any loan inquiry is subject to lender underwriting, and this article is not a commitment to lend or a guarantee of approval. Mortgage rates, loan terms, and program guidelines vary by borrower, property, and state, and may change without notice. Equal Housing Opportunity. Verify licensure at NMLS Consumer Access.