The Quick Read: It depends on the program, because no law caps the loan: a portfolio non-QM bank-statement program carries files from $300,000 to $6,000,000, while a bank portfolio program carries twelve-month-statement files up to $30,000,000, with every file above $4,000,000 reviewed case by case, through select wholesale programs, subject to full underwriting. Exact terms depend on the lender’s guidelines, property type, leverage, and a full review of the borrower’s file.
- Your personal ceiling is almost always lower than the program ceiling. Income, leverage, credit and reserves each set a limit, and the lowest one wins.
- Leverage steps down as the loan grows. A primary-residence purchase can reach 90% at the low end, but it falls to the 55% to 65% range at the top.
- Above $4,000,000, we say “case by case” every time, because every file is reviewed before it is submitted.
- Self-employed borrowers qualify on bank deposits, assets or property cash flow, not on traditional personal-income documentation that write-offs have shrunk.
Who Sets the Limit?
The lender or investor behind each program sets the limit. “Super jumbo” has no official definition. It simply means a loan far above the conforming limits, and each program draws its own lines.
Across the wholesale network Lendmire works with, the ceiling is a business decision. Some programs stop at a few million dollars. Others run to the tens of millions. Lendmire is a broker, so it compares those programs for you instead of lending from one balance sheet.
That is why a single “maximum” headline misleads. The number you can actually use depends on how much of the price the program will fund, how your income is documented, and how much cash you hold after closing.
Two Programs, Two Ladders
Two kinds of programs matter at this size. A portfolio non-QM bank-statement program carries loans from $300,000 to $6,000,000. A bank portfolio jumbo program carries twelve-month-statement files up to $30,000,000, on its own ladder.
The bank program’s ladder begins above $4,000,000, so the two overlap up to $6,000,000. Above $6,000,000, the bank program stands alone. On the bank program, leverage on a primary-residence purchase runs 65% to $5,000,000, 60% to $10,000,000 and 55% to $30,000,000, each reviewed case by case. Interest-only on that program is limited to 60% or the band’s ceiling, whichever is lower.
How Much Will the Lender Fund at Each Size?
Leverage is the constraint most borrowers underestimate. The table shows typical purchase ceilings through select wholesale programs, subject to full underwriting. Every figure above $4,000,000 is reviewed case by case, not a flat “up to.”
| Loan size | Primary residence, purchase | Investment property, purchase |
|---|---|---|
| To $1M | 90% | 85% |
| $1M to $2M | 85% | 80% |
| $2M to $3M | 80% (75% on investment above $2.5M) | 80% to $2.5M, then 75% |
| $3M to $4M | 75% | 60% |
| $4M to $5M | 65%, on review | 65%, on review |
| $5M to $10M | 60%, on review | 55%, on review |
| $10M to $30M | 55%, on review | 50%, on review |
Two notes on reading it. First, no loan above $1,000,000 reaches 90%. Second, ladders are not always smooth. The investment-property column dips at $3,000,000 to $4,000,000 and then rises on review above $4,000,000, so a slightly different loan size can change your leverage.
Second homes run about five points lower than a primary residence at every size. Cash-out sits lower than purchase in every band. Pricing and available terms vary by lender, borrower profile, property type, and full underwriting review.
What Sets Your Number?
Your maximum is the lowest of five limits. Think of them as five doors, and the loan can only pass through the narrowest.
1. Qualifying income. Deposits, after an expense ratio, divided by the statement months.
2. Debt-to-income. Typically up to 50% on most files.
3. Leverage. The ladder above, applied to the price or appraised value, whichever is lower.
4. Reserves. Liquid cash left after closing.
5. The program ceiling. The dollar limit of the specific program.
At moderate sizes, income usually binds first. At a $3,000,000 purchase price, the leverage ladder is often the tighter limit. At $10,000,000 and up, reserves and case-by-case review shape the answer as much as income does.
How Bank-Statement Income Becomes Loan Size
The lender adds up eligible deposits over 12 or 24 consecutive months, applies an expense ratio, and divides by the number of months. The result is your qualifying income. The portfolio non-QM program accepts either window, and the bank program uses 12 months.
The expense ratio is where the arithmetic bites. Business statements need at least 25% ownership. Typical fixed ratios are 20% for a service business with no employees, 40% for one to five employees, and 50% for six or more employees or any product business. An accountant-provided ratio is another option, as is a profit-and-loss method capped at 80%.
Consider a founder who owns a consulting firm with three employees. At a 40% expense ratio, 60% of eligible deposits count as income. If the same founder moves money from the business account into a personal account, those transfers count at 100% on personal statements, because the transfer is the owner’s own business money. That one choice can change the answer meaningfully, so we look at both account types before choosing a path.
Statements must be consecutive. A transaction history never substitutes for a statement.
Debt-to-income then converts qualifying income into a supportable monthly obligation, and that obligation caps the loan. Longer windows help steady earners. Twelve months favors a borrower whose income is rising, while 24 months averages out a lumpy year, so we test both when the file allows.
Credit, Reserves and the Super Jumbo Overlays
Credit floors rise with size. Several bands in the ladder call for 720, and the $3,500,000 to $4,000,000 primary-residence band calls for 760.
Reserves scale too. Typical requirements are 3 months to $500,000, 6 months to $1,500,000 and 9 months above that. Add 2 months per additional financed property, to a 12-month maximum. First-time investors typically need 12 months.
Above $3,500,000 on a primary residence, and above $3,000,000 on a second home or investment property, the overlays tighten. These typically include:
- A 700 credit floor and a clean 0x30x24 housing history.
- Four years (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 cannot be used to meet reserves.
What if Bank Statements Are Not the Right Fit?
Two asset-based paths exist for primary and second homes. An asset allowance divides liquid assets by 36, 60 or 84 months to create qualifying income. The 84-month version is standalone and applies to any loan above $3,500,000. The leverage cap on these paths is 80%.
Assets-only qualification needs no debt-to-income calculation. It requires U.S. liquid assets equal to the loan plus closing costs, plus sixty months of any net loss on other residential property. Retirement accounts count at 70%, or 80% at age 59.5 and older. Business funds, gifts, unvested stock and cryptocurrency never count.
A profit-and-loss-only path also exists for some borrowers. A physician with a private practice or an attorney with partnership distributions often fits one of these better than a straight deposit analysis.
Purchase, Cash-Out, Interest-Only and Property Type
Cash-out proceeds are unlimited at or below 60% leverage. Above 60%, the portfolio program caps cash in hand at $1,500,000, and the bank program publishes no cap. Both remain subject to the cash-out column of the ladder. Every figure here varies by lender and program — guidelines, property type, leverage, and credit profile all apply.
Interest-only structures differ by program. The portfolio program offers it to 85% leverage with a 700 credit floor, on a 40-year term with a 10-year interest-only period. The bank program offers it to 60% through 5- and 7-year fixed-period adjustable loans. Its 10-year fixed-period adjustable is fully amortizing. Interest-only is a payment structure on purchase and rate-and-term files, and it never raises a cash-out ceiling. Final terms depend on lender guidelines, property type, leverage, and the borrower’s complete credit picture.
Property type shifts the ceiling too. Warrantable condos reach 85% and non-warrantable condos 80%. Two-to-four-unit properties reach 85%, and condotels top out at 75% on a purchase and 65% on a cash-out (50% on the bank program). Second homes must be one unit. Rural property reaches 80% on ten acres or less and is never available above $3,000,000. A Texas 50(a)(6) home-equity loan takes a five-point leverage reduction and stops at $3,000,000 on the portfolio program.
Is the Real Ceiling Lower for a Rental?
For a rental purchase, the decision is which number is stronger: the property’s rent against its monthly obligation, or your personal deposits. DSCR loans are designed for non-owner-occupied investment properties. Because they are business-purpose investor loans, they are reviewed differently from a standard owner-occupied mortgage.
At the top end, rent rarely scales with price, so coverage thins as the balance rises. Select lenders in the network offer programs below a 1.00 coverage ratio, but leverage and terms adjust. Our complete DSCR loans guide covers how coverage works. If your traditional personal-income documentation understates your income because of depreciation and write-offs, bank statements can still support a personal-income file. For a deeper look at the paths available to you, see Lendmire’s piece Self Employed Jumbo Mortgage Options.
Is There an Official Cap?
No. The only official size line is the conforming limit. The FHFA sets it each year, and a legal summary from Orrick puts the current baseline one-unit limit at $832,750. It also puts the high-cost ceiling at $1,249,125. Anything above that is a jumbo loan, and anything far above it is called super jumbo by convention only.
Non-QM does not mean no underwriting. Lenders must still make a reasonable, good-faith ability-to-repay determination, which looks at credit history, income, obligations and employment status. Bank-statement programs satisfy that duty with a different income calculation.
If You Are Capped Below Your Target
A capped file usually has one lever that moves it:
- Put more down. Leverage falls as the loan grows, so more equity is the most direct fix.
- Switch documentation. A 24-month window, a different expense method, or an asset path may produce a bigger number.
- Use personal statements for business transfers. They count in full.
- Add liquidity. Reserves and asset-based paths both respond to cash on hand.
- Resize the loan. A slightly smaller balance can land in a higher-leverage band.
Before asking for a maximum, gather 12 or 24 months of statements, proof of business ownership, asset statements for reserves, a credit report and the purchase contract or property details.
Key Terms Defined
Super jumbo: A loan far above the conforming limits, with no official federal definition. Each program draws its own line.
Non-QM: A mortgage that falls outside the standard qualified-mortgage box, often because it uses alternative income documentation or an interest-only feature.
Expense ratio: The share of business deposits treated as costs and removed before the lender counts income.
Loan-to-value (LTV): The loan amount divided by the lesser of price or appraised value, shown as a percentage.
Reserves: Liquid funds you hold after closing, counted in months of the property’s monthly obligation.
DSCR: Debt service coverage ratio, meaning a rental’s monthly income divided by its monthly debt obligation.
Frequently Asked Questions
Is there a legal limit on how large a super jumbo loan can be?
No law sets a dollar cap. Each lender or investor sets its own program ceiling, and the lender must still verify that you can repay. In the network we place files with, ceilings run from $6,000,000 on the portfolio program to $30,000,000 on the bank program, with every file above $4,000,000 reviewed case by case.
Can I use 12 months of statements instead of 24?
Yes. The portfolio program accepts 12 or 24 months, and the bank program uses 12. Twelve months tends to help when income is rising. Twenty-four months helps when one strong year would otherwise be diluted by a weak one.
Do I need traditional personal-income documentation?
Not on a bank-statement path. Income is reviewed on documented deposits under the applicable program, subject to lender guidelines. Asset-based and property-income paths exist for borrowers whose deposits do not tell the full story.
Why is my approved amount lower than the headline maximum?
The headline is a program ceiling, not your number. Your result is the lowest of income support, leverage at that size, reserves and credit. Leverage often binds first at the top, because lenders fund a smaller share of the price as the loan grows.
Can a super jumbo loan fund an investment property?
Yes, through select wholesale programs, though leverage runs about five points lower than on a primary residence. A rental buyer can also use a DSCR loan, which qualifies primarily on property-level rental income covering the payment, subject to lender guidelines. 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.
Next Step
For the full overview, see Lendmire’s complete super jumbo self-employed mortgage guide. Lendmire’s consumer mortgage lending is licensed in 16 states: AL, CA, CO, FL, GA, IN, MI, MT, NM, NC, OH, PA, TN, TX, VA and WA. Programs and parameters change, and nothing here is a commitment to lend.
For current guidelines and terms, see Lendmire’s super jumbo bank statement loan programs page.
Lendmire’s self-employed mortgages page presents both super jumbo programs, bank statement and DSCR, side by side.
About Lendmire
Lendmire — NMLS# 2371349 — is a mortgage brokerage specializing in DSCR investor loans, helping arrange financing across 41 markets, including Washington, D.C., through wholesale and investor-lending channels. The model centers on property-level rental income reviewed by the lender rather than W-2 documentation, subject to lender guidelines, suiting entity-owned and multi-property investors. Lendmire holds Scotsman Guide Top Mortgage Workplace recognition for 2025 and 2026.
Get Started
Ready to find the right loan for you?
In about 30 seconds you can review financing options available for your home or investment property. No commitment required.
Informational only. Not a Loan Estimate, approval, or commitment to lend. Program availability and eligibility are subject to lender guidelines, credit approval, property review, and underwriting.
References
1. FHFA – 2026 conforming loan limit release
2. Orrick InfoBytes – FHFA 2026 limits
3. CFPB – General QM Final Rule
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 Can Authors Qualify for a Jumbo Mortgage With Bank Statements? · Private Bank Mortgage vs Non-QM Super Jumbo Loan · How to Qualify for a Jumbo Mortgage After a Business Sale
Brandon Miller
Founder & CEO, Mortgage Loan Originator, Lendmire LLC
- Mortgage Loan Originator · NMLS# 1129696 · Verify on NMLS Consumer Access
- North Carolina Real Estate Broker · License# 343312 · Verify on NCREC
- North Carolina Insurance Producer · License# 19053198 · Property, Casualty, Life, Health · Verify on NAIC SBS
- 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.