The Quick Read: Qualifying starts with twelve or twenty-four months of consecutive bank statements, not traditional personal-income documentation. The underwriter strips out non-earned deposits, applies an expense ratio to business accounts, and divides what remains by the months in the window. Credit, reserves, leverage and the property are then reviewed separately, through select wholesale programs, subject to full underwriting.
- Statement window: 12 or 24 consecutive months, personal or business (the bank portfolio program uses 12).
- Business accounts need at least 25% ownership and carry an expense ratio; personal transfers from your own business count at 100%.
- Credit floor is 660 on the portfolio program, 680 on the bank portfolio program, and 700 above the super-jumbo line; debt-to-income runs to 50%.
- Leverage steps down as the balance grows, and every loan above $4,000,000 is reviewed case by case before submission.
- Asset-based and profit-and-loss paths exist for files where deposits tell only part of the story.
Lendmire is a mortgage broker. It shops these files across multiple wholesale programs and does not lend. This page is a national explainer. Florida matters mainly through property type and deal size, and the consumer lending behind these programs is licensed in 16 states, Florida included. Nothing here is a commitment to lend.
What Is a Super Jumbo Bank Statement Loan?
It is a non-QM mortgage that reads your deposits instead of your tax return, sized above the range most lenders handle. Scotsman Guide describes the standard setup: a self-employed borrower supplies 12 to 24 months of personal or business statements, and the lender applies an expense factor to arrive at income.
Why does this matter for high earners? Write-offs shrink taxable income but not deposits. A founder, physician, attorney or entertainer can show modest net income on a return and still move substantial money through an account every month. Bank statement underwriting reads the second picture.
“Super jumbo” has no official definition. The conforming ceiling is a published number: the baseline one-unit limit rose to $832,750 and the high-cost ceiling to $1,249,125. Anything above that is jumbo. Super jumbo is a lender size tier, and in this network the overlays tighten above $3,500,000 on a primary residence and above $3,000,000 on a second home or investment property.
How Underwriting Treats Your Statements, Step by Step
Underwriting turns deposits into income in six moves. Knowing them lets you predict the number before you apply.
1. Pick the window. Twelve months suits steady or rising income. Twenty-four months smooths a lumpy year but also drags in any weak stretch. The bank portfolio program uses 12 months, and statements must be consecutive. Transaction histories never substitute.
2. Pick the account type. Personal statements are read directly. Business statements require at least 25% ownership.
3. Scrub the deposits. Underwriters remove transfers between your own accounts, loan proceeds, refunds and one-time windfalls. Lenders must still confirm repayment-capacity with reliable records, as the federal consumer-finance regulator’s small-entity compliance guide explains for third-party verification. That is why unexplained deposits get cut.
4. Apply the expense ratio. On business accounts, a share of deposits is treated as operating cost. Across the wholesale network the 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 an alternative.
5. Average over the window. Eligible deposits, less the expense ratio, divided by the months in the window.
6. Test against debts. The result is measured against your total obligations, with debt-to-income allowed to 50%. Every financed property counts on the debt side.
Here is the trick that helps many owners: transfers from your own business into your personal account count at 100%. If you pay yourself from the business account, personal statements can carry the file without an expense ratio.
What a Realistic File Looks Like
Consider a physician-owner of a four-employee practice buying a primary residence. Business deposits run through the practice account, so a 40% expense ratio applies to those statements. If she instead moves her draw into a personal account each month, those transfers count in full. Same practice, same cash, noticeably different qualifying income.
Now flip it. Say a founder has a six-person product company and deposits that swing hard month to month. A 50% ratio applies, and the average reflects every slow month. A twenty-four month window could help or hurt depending on which direction the trend runs. Rising income argues for twelve months. Spiky but flat income often argues for twenty-four.
These are structural illustrations, not quotes or approvals. Across a wholesale network, the pattern that stalls files most often is not low income. It is commingled accounts and large deposits nobody can explain.
What Size and Leverage Can You Expect?
Leverage steps down as the loan grows, and the ladder differs by occupancy. All figures below are ceilings through select wholesale programs, subject to underwriting.
| Loan band | Primary purchase | Second home purchase | Investment purchase |
|---|---|---|---|
| $300K–$1M | 90% | 85% | 85% |
| $1M–$2M | 85% | 80% | 80% |
| $2M–$3M | 80% | 80% to $2.5M, 75% above | 80% to $2.5M, 75% above |
| $3M–$3.5M | 75% | 65% | 60% |
| $3.5M–$4M | 75% | 65% | 60% |
At the top credit tier, a primary residence reaches 75% to $4,000,000. Each band has its own credit score for its top leverage: that is the score needed for the best cell, not a program floor, and a lower score takes a lower cell in the same band.
Two wholesale programs sit behind these ladders. The portfolio non-QM program carries files up to $6,000,000. The bank portfolio program, a separate bank-held jumbo option, begins above $4,000,000, overlaps the portfolio program up to $6,000,000, and stands alone above that to $30,000,000. Every file above $4,000,000 is reviewed case by case before submission. On a primary residence, the bank program’s ladder runs 65% to $5,000,000, 60% to $10,000,000 and 55% to $30,000,000, on review. Second homes and investment property take lower cells from their own ladders.
Interest-only on the bank program reaches 60% or the band’s ceiling, whichever is lower. Interest-only on the portfolio program reaches 85% LTV with a 700 floor on purchase and rate-term files. It never raises a cash-out ceiling. Each figure is subject to lender guidelines and a complete review of property type, leverage, and credit.
Cash-out is not shown in the table above; it runs on its own, lower ladder. On a primary residence it tops out at 80% on the smallest bands. Proceeds are unlimited at or below 60% LTV, and the portfolio program caps cash in hand at $1,500,000 above that. Leverage, reserves, and pricing vary by lender and program; the final terms follow the full file review.
Reserves, Credit and the Overlays That Appear at Size
Reserves are typically 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. First-time investors carry 12 months.
Above the super-jumbo line, expect a stricter package: a 700 credit floor, a 0x30x24 housing history, 48-month seasoning on any credit event, U.S. citizens and permanent residents only, no non-occupant co-borrowers, no rural property, ten acres maximum, and cash-out proceeds that cannot satisfy reserves.
Lendmire sees these overlays vary from one wholesale program to the next. Some programs will tolerate a recent credit blemish at moderate balances and none will at the top. If your file sits near an overlay threshold, structure the loan around the strictest program you might need, not the loosest.
When Deposits Don’t Fit: Other Paths
A third-party profit-and-loss method exists, capped at 80%. The CFPB guide above explains why a self-prepared statement does not count: the records must come from someone other than the borrower or the broker.
Asset paths cover borrowers whose wealth sits in accounts, not cash flow. Asset allowance divides liquid assets by 36 months when your debt-to-income before the asset income is at or below 60%, by 60 months above that, and by 84 months for standalone use or any loan above $3,500,000. The qualifying ratio with the asset income counted must still fit the 50% ceiling. It is limited to primary and second homes at 80% maximum.
Assets-only needs no debt-to-income test. U.S. liquid assets must equal the loan amount 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 up. Business funds, gifts, trusts other than a revocable living trust, unvested stock and cryptocurrency never count.
Where the General Rule Breaks
Declining deposits. A falling trend pulls the average down, and a twelve-month window will show it harder. Weigh a twenty-four month window against an asset path before choosing.
Business under two years. Expect the file to lean on liquid assets and credit quality instead of a long deposit history.
Investment property. Business-purpose loans are treated differently from owner-occupied ones. Regulation Z exempts credit extended primarily for business purposes, and the creditor determines the primary purpose in each case. If the property is a pure rental, a loan that qualifies primarily on property-level rental income covering the payment, subject to lender guidelines, may fit better. The complete DSCR loans guide walks through that path.
Florida condos. Building-level issues such as insurance, special assessments and litigation can change eligibility and leverage independent of your income. In this network, warrantable condos run to 85%, non-warrantable to 80%, and condotels to 75% on purchase and 65% on cash-out (50% on the bank program). Second homes are one unit only. Rural property runs to 80% on ten acres or less and never above $3,000,000.
Entity and structure questions. Income that sits inside a pass-through entity raises its own questions. Lendmire’s piece Does Undistributed K-1 Income Qualify on a Super Jumbo Bank Statement Loan? covers that case.
Key Terms Defined
Expense ratio: the share of business deposits treated as operating cost and removed before income is calculated.
Non-QM: a mortgage outside the standard qualified-mortgage box that still requires the lender to confirm you can repay.
Super-jumbo overlays: extra credit, housing-history and property rules that apply above $3,500,000 on a primary residence and $3,000,000 on a second home or investment property.
Liquid assets: cash and accounts you can access without selling property or a business, counted at program-set percentages.
Warrantable condo: a condo building that meets standard project rules; non-warrantable buildings need portfolio financing.
The Decision in Practice
Choose bank statement when your deposits clearly outrun your tax return, the property is a home you will live in, and your income trend is flat or rising. Choose an asset path when wealth is in accounts and income is irregular. Consider a rental-income structure when the property is a pure investment. Conventional documentation may still be cheaper if your returns show the income, and that is worth testing first.
One honest limit: tighter overlays and lower leverage mean more cash down as the balance climbs. A larger loan is not always the better use of capital. For the investor deciding between two properties, the one that fits a higher band with stronger leverage can beat the nicer one that lands above a threshold. Exact terms depend on lender and investor guidelines, credit profile, reserves, and property review.
Tax treatment varies; consult a qualified professional before relying on any deduction.
Reach the team at 828-256-2183 or through the quote request page.
Frequently Asked Questions
How many months of statements do I need?
Twelve or twenty-four consecutive months, personal or business. The bank portfolio program uses twelve. Gaps are not accepted, and transaction histories cannot replace statements.
Can I use both personal and business accounts?
Yes, with care. Business statements need at least 25% ownership and carry an expense ratio. Transfers from your business into your personal account count at 100%, so double-counting is avoided by using one stream or the other consistently.
Does super jumbo need more reserves than a regular jumbo?
Typically yes. Reserves run 3, 6 or 9 months by loan size, with extra months for each additional financed property up to 12. Above the super-jumbo line, cash-out proceeds cannot be used to satisfy reserves.
What credit score do I need?
The floor is 660 on the portfolio program, 680 on the bank portfolio program, and 700 above the super-jumbo line. The best leverage in each size band needs a higher score, so a lower score gets a lower leverage cell, not an automatic decline.
What if my income is declining?
A declining trend lowers the averaged income, and the underwriter will see it. Compare a longer statement window and an asset-based path, and keep your expectations tied to the lower number.
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
As a mortgage broker (NMLS# 2371349), Lendmire helps self-employed and high-net-worth borrowers in 16 states qualify on bank statements, a profit-and-loss statement, 1099s or liquid assets instead of traditional personal-income documentation, through wholesale lenders. Lendmire is never the lender; program terms are set by the lender and its guidelines. Scotsman Guide named Lendmire a Top Mortgage Workplace in both 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. Scotsman Guide: Rev Up the Engine for Non-QM Lending
2. CFPB
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: Can a W-2 Salary and Bank Statement Income Share One Super Jumbo Loan? · Does a 40-Year IO ARM Exist on a Super Jumbo Bank Statement Loan? · How to Qualify for a Super Jumbo Bank Statement Loan in Georgia
Guides: Super Jumbo Bank Statement Loans in Florida
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
Legal disclosures. Lendmire (NMLS# 2371349) is a state-licensed mortgage brokerage that arranges financing through wholesale lender relationships. Lendmire is not a direct lender, depository institution, or registered financial advisor. The discussion above is general informational content about real estate financing — it is not financial, legal, or tax advice, and readers should consult licensed professionals for guidance on their individual circumstances. Loan inquiries are subject to lender underwriting; this article does not represent a commitment to lend. Loan terms, rates, and qualification standards vary by borrower, property, and state, and are subject to change at any time. Equal Housing Opportunity. NMLS Consumer Access: nmlsconsumeraccess.org.