The Quick Read: A super jumbo bank statement loan is reviewed around twelve or twenty-four months of consecutive deposits instead of traditional personal-income documentation, so the file turns on clean deposits, a documented expense ratio, verified reserves, a credit score that fits the leverage band, and a property that clears the added overlays, all through select wholesale programs and subject to full underwriting.
- Size: Loans run from $300,000 to $30,000,000 through two wholesale programs. Everything above $4,000,000 is reviewed case by case before submission.
- Leverage: On a primary residence purchase, the maximum loan-to-value steps down as the loan size rises, from the highest band at the lower loan amounts to a much lower band in the $3,500,000 to $4,000,000 range. It falls again, on review, above that.
- Credit: Program floors are 660, 680 or 700 depending on the program and loan size. Each leverage band also needs its own score.
- Income and cash: Deposits are reduced by an expense ratio of 20%, 40% or 50%, or by an accountant-documented ratio. Reserves run 3, 6 or 9 months by loan size.
Key Terms Defined
Super jumbo is a market label for the top of the jumbo range. No law defines it. Lenders set their own line, and the network programs Lendmire works with add extra rules above $3,500,000 on a primary residence and above $3,000,000 on a second home or investment property.
Bank statement loan means a mortgage that is reviewed around deposits in your bank accounts rather than on traditional personal-income documentation. It is alternative documentation, not missing documentation.
Non-QM (non-qualified mortgage) describes a loan that falls outside the standard Qualified Mortgage box. The lender writes its own rules and still must decide you can repay.
Expense ratio is the share of business deposits the lender assumes goes to operating costs. What is left counts as your income.
Reserves are liquid funds you hold after closing, measured in months of the housing payment.
Seasoning is a waiting period after an event. On these loans it applies to credit events such as a past foreclosure or bankruptcy.
Asset allowance converts liquid assets into monthly qualifying income by dividing them over a set number of months.
What Makes a Loan Super Jumbo?
A loan is jumbo once it exceeds the conforming limit, and super jumbo is simply the upper end of that range. The national one-unit baseline limit is $832,750, with a high-cost ceiling of $1,249,125.
Above that line, the work changes. Large loans rarely fit agency purchase rules, so they land in non-QM channels. Across the wholesale network Lendmire places files with, the jumbo-to-super-jumbo shift shows up as lower leverage, higher credit expectations, two appraisals on larger balances and a longer list of property restrictions.
What Georgia Changes
Georgia does not change how this loan is underwritten. The deposit math, the leverage ladder, the reserve rules and the overlays are the same in every state where the loan is offered. Lendmire’s consumer mortgage lending is licensed in 16 states, Georgia among them, and the programs are arranged through select wholesale lenders, so every figure here is subject to full underwriting.
What does vary is the property. Acreage, rural location and unusual collateral trip overlays at this size. A few paragraphs below cover those edge cases.
How Underwriting Turns Deposits Into Income
Underwriters turn deposits into income in five steps. They pick the statement window, strip out ineligible deposits, apply an expense ratio, average the result and test it against your debts.
1. Choose 12 or 24 months. Both windows use consecutive monthly statements. The bank portfolio program uses 12. Pick 12 when income is growing and 24 when it swings. Statements must be complete, and transaction histories never substitute for them.
2. Remove what is not income. Transfers between your own accounts, loan proceeds and refunds do not count. One exception matters: transfers from your own business into your personal account count at 100%.
3. Apply the expense ratio. This applies to business statements, which also require at least 25% ownership. 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 can replace the fixed figure. A profit-and-loss method is also available, capped at 80%.
4. Average it. Eligible deposits are divided by the number of statement months.
5. Test the debts. Total obligations, including the new housing payment, can reach 50% of that monthly income, subject to lender guidelines.
Here is how that works in percentages. Say twelve months of deposits go into a business account for a company with four employees. The 40% ratio leaves 60% of eligible deposits as income. Move the same deposits to a one-person consulting practice at 20%, and 80% counts. Same cash, different file. That is why the expense ratio is the first number to settle.
| Item | Personal statements | Business statements |
|---|---|---|
| Expense ratio | None on your own deposits | 20%, 40%, 50% or accountant ratio |
| Ownership | Your own account | At least 25% |
| Transfers from your business | Count at 100% | Deposits take the ratio |
| Best fit | Owner pays self from the business | Business income flows to the account |
Underwriters also read the pattern. Deposits should fit the type of business. Large unexplained deposits, recurring undisclosed debits and overdrafts draw questions.
How Leverage Steps Down as the Loan Grows
Leverage ceilings fall as loan size grows, and the table shows the ladder for a primary residence. Every figure is a ceiling through select wholesale programs, subject to underwriting, and each band lists the credit score needed for that leverage. Above $3,500,000 the 700 credit floor of the super jumbo overlays applies to every cell.
| Loan size | Purchase | Cash-out | Credit for this leverage |
|---|---|---|---|
| $300K to $1M | 90% | 80% | 680+ |
| $1M to $1.5M | 85% | 80% | 700+ |
| $1.5M to $2M | 85% | 75% | 720+ |
| $2M to $3M | 80% | 70% | 720+ |
| $3M to $3.5M | 75% | 65% | 720+ |
| $3.5M to $4M | 75% | 65% | 760+ |
| $4M to $5M, on review | 65% | 60% | 700+ (overlay floor) |
| $5M to $6M, on review | 60% | 55% | 700+ (overlay floor) |
| $6M to $10M, on review | 60% | 55% | 700+ (overlay floor) |
| $10M to $30M, on review | 55% | 50% | 700+ (overlay floor) |
Two programs sit behind this table. A portfolio non-QM program carries files to $6,000,000. A bank portfolio program takes over above $4,000,000 and carries twelve-month-statement files to $30,000,000 on its own ladder. The two overlap between $4,000,000 and $6,000,000.
Where the bank program takes over, the leverage cells reset on its own ladder, but the 700 floor above the super jumbo line still governs the file. A lower score does not end the file. It moves you to a lower-leverage cell in the same band.
Second homes and investment properties follow their own ladders, and the numbers are lower. On an investment property purchase, for example, the ceiling is 85% to $1,000,000 and 80% from $1,000,000 to $2,500,000. It is 75% from $2,500,000 to $3,000,000, and 60% from $3,000,000 to $4,000,000. A second home purchase runs 85% to $1,000,000 and 80% to $2,500,000, and second homes are one-unit only. Read each figure from the occupancy’s own ladder rather than subtracting from the primary-residence number.
Credit, Reserves and the Super Jumbo Overlays
The credit floor is 660 on the portfolio program and 680 on the bank program. Above the super jumbo line it is 700. The score in the leverage table is the score that cell’s top leverage needs, and above that line the 700 overlay floor applies on top.
Reserves rise with loan size, and a few add-ons apply:
| Loan size | Reserves |
|---|---|
| To $500,000 | 3 months |
| To $1,500,000 | 6 months |
| Above $1,500,000 | 9 months |
Each additional financed property adds 2 months, up to a 12-month maximum. First-time investors need 12 months. Cash-out proceeds cannot satisfy reserves on super jumbo files.
Above $3,500,000 on a primary residence and above $3,000,000 on a second home or investment property, extra overlays apply:
- a 700 credit floor and a 0x30x24 housing payment history
- 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 maximum
Above $4,000,000, everything is reviewed case by case before submission. Treat any leverage figure at that size as a starting point for review, not an offer.
Purchase, Cash-Out and Interest-Only Structures
On a refinance, cash-out proceeds are unlimited at or below 60% LTV (loan-to-value, the loan divided by the property value). Above 60% on the portfolio program, cash in hand is capped at $1,500,000. The bank program has no published cap. Cash-out ceilings come from the ladder’s cash-out column, and the best figure on a primary residence is 80%. Final terms depend on the lender’s guidelines, the property type, and the borrower’s complete credit picture.
Interest-only is a structure, not extra leverage. The portfolio program offers a 40-year term with a 10-year interest-only period, up to 85% LTV with a 700 floor, on purchase and rate-and-term files within the band’s own ceiling. The bank program offers interest-only up to 60%, on five- and seven-year fixed-period adjustables. A ten-year fixed-period adjustable on that program is fully amortizing. Each figure is subject to lender guidelines and a complete review of property type, leverage, and credit.
Qualifying on Assets Instead of Deposits
When deposits understate your wealth, two asset paths exist. They apply to primary and second homes only, with an 80% maximum.
- Asset allowance divides liquid assets by 36 months when the file’s debt-to-income ratio before the asset income is at or below 60%. It divides by 60 months when that pre-asset ratio is above 60%. It divides by 84 months for standalone use or any loan above $3,500,000. With the asset income counted, the file must still fit the 50% ceiling.
- Assets-only needs no debt-to-income test. It requires U.S. liquid assets equal to 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 older. Business funds, gifts, most trusts, unvested stock and cryptocurrency never count. Only a revocable living trust is accepted.
Where the Rules Break
Most of the surprises sit at the edges:
- Processor and gross-revenue accounts. Statements from payment processors show gross sales, fees and refunds, so deposits need a clear tie to business income.
- K-1 income. Pass-through earnings you never took out do not always read as deposits. Lendmire’s piece Does Undistributed K-1 Income Qualify on a Super Jumbo Bank Statement Loan? walks through the options.
- Acreage and estates. Ten acres is the maximum above the super jumbo line, and rural property never goes above $3,000,000. Lendmire’s piece Can a Twenty-Acre Property Qualify for a Super Jumbo Bank Statement Loan? covers that edge.
- Condos. Warrantable condos go to 85%, non-warrantable to 80%, and condotels to 75% on a purchase and 65% on a cash-out (50% on the bank program).
- Multi-unit. Two to four units can reach 85%, subject to the occupancy ladder.
- Credit events. A recent event adds seasoning, and above the super jumbo line it is 48 months.
Investment Property: Bank Statements or DSCR?
A bank statement loan tests you. A DSCR loan tests the property. The two can fund the same rental, so the better fit depends on which side of the file is stronger.
DSCR (debt service coverage ratio) is monthly rent divided by the full monthly housing obligation. 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 it in full.
| Item | Bank statement loan | DSCR loan |
|---|---|---|
| What is tested | Your deposits | The property’s rent |
| Strong when | Deposits are strong, rent is thin | Rent is strong, income is hard to document |
| Debt-to-income test | Yes, up to 50% | Property cash flow instead |
A non-owner-occupied rental is a business-purpose loan, and federal rules treat business-purpose credit differently from a consumer mortgage. The CFPB’s commentary says the creditor decides case by case whether a transaction is primarily for an exempt purpose. Occupancy and use drive that decision, so the occupancy on your application should match your plan. Tax treatment varies by situation; consult a qualified professional.
Why Files Stall (and the Fix)
- Unexplained large deposits. Document the source before submission.
- Commingled accounts. Separate business and personal activity, or be ready to show the pattern.
- Wrong ownership share. Business statements need at least 25% ownership.
- Reserves in the wrong place. Cash-out proceeds cannot satisfy reserves on a super jumbo file.
- Gaps or missing pages. Statements must be complete and consecutive.
- Score below the band’s need. Drop to the lower-leverage cell, or lower the loan size.
- Property outside the overlays. Rural location or acreage above ten acres can stop a file above the super jumbo line.
Is This the Right Route?
Choose a bank statement loan when your traditional personal-income documentation understates cash flow, your deposits are consistent and your credit fits the leverage band you need. Choose assets when your net worth is far bigger than your monthly deposits. Choose DSCR when the property carries the file. Skip it when conventional documentation already supports the loan, because the other routes carry stricter overlays at size.
Frequently Asked Questions
Can I qualify on personal bank statements without an expense ratio?
Transfers from your own business into your personal account count at 100%, so a clean personal-account history can carry the file without a ratio. Business statements take the 20%, 40% or 50% ratio, or an accountant-provided one. Either way the lender reviews the deposit pattern.
Should I use 12 or 24 months of statements?
Use 12 when income is rising, because the average reflects the recent run. Use 24 when income swings. The bank portfolio program uses 12, and the portfolio non-QM program accepts either. Pick the window that supports the stronger, explainable average.
What credit score do I need?
Program floors are 660 on the portfolio program, 680 on the bank program and 700 above the super jumbo line. Each leverage band wants its own score for the best cell, up to 760 in the $3,500,000 to $4,000,000 band. A lower score moves you to a lower-leverage cell in the same band.
Can I use this loan to buy a rental in Georgia?
Yes, subject to full underwriting. Investment property has its own ladder, such as 85% on a purchase to $1,000,000 and 80% from $1,000,000 to $2,500,000. It is a business-purpose loan, and the super jumbo overlays begin at $3,000,000.
What if my deposits are lumpy but my assets are large?
The asset allowance and assets-only paths exist for that case, on primary and second homes. Liquid assets divide by 36, 60 or 84 months into monthly income.
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.
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 broker licensed for consumer lending in 16 states. Scotsman Guide named Lendmire a Top Mortgage Workplace in both 2025 and 2026.
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References
1. Orrick InfoBytes, FHFA conforming loan limit announcement
2. CFPB, Regulation Z section 1026.3 with commentary
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 Washington · How to Document a Super Jumbo Bank Statement Loan · How to Qualify for a Bank Statement Loan for Entrepreneurs
Guides: Super Jumbo Bank Statement Loans in Georgia
Brandon Miller
Founder & CEO, Mortgage Loan Originator, Lendmire LLC
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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.