The Quick Read: Qualifying means documenting 12 or 24 months of bank deposits in place of traditional personal-income documentation, passing credit, reserve and leverage tests set by loan size, and fitting the file to one of two wholesale programs that together cover $300,000 to $30,000,000, with everything above $4,000,000 reviewed case by case. Every figure here is a ceiling or typical range through select wholesale programs, subject to full underwriting, and none of it is a commitment to lend.
- Income: the lender takes eligible deposits, subtracts an expense ratio (often 20%, 40% or 50%), and divides by the months in the statement window. Business statements require at least 25% ownership.
- Credit: the floor is 660 on the portfolio program, 680 on the bank program and 700 above the super-jumbo line.
- Debt and reserves: debt-to-income can reach 50%. Reserves run 3, 6 or 9 months depending on loan size.
- Leverage: on a primary-residence purchase, the ceiling starts at 90% up to $1,000,000 and steps down to 75% by $3,500,000. Above $4,000,000 every file is reviewed case by case.
Lendmire is a mortgage broker. It shops these files across multiple wholesale programs and does not lend or approve.
What Makes a Loan “Super Jumbo” in Texas?
A super jumbo loan is a mortgage large enough that the lender applies its own tighter overlays on credit, reserves and leverage. No law defines the term. Each lender draws its own line, and across the wholesale network Lendmire works with, that line usually falls between $3,000,000 and $3,500,000. Exact terms depend on lender and investor guidelines, credit profile, reserves, and property review.
A plain jumbo loan is one above the conforming limit. Per Orrick’s summary of the federal housing finance agency’s announcement, the current baseline one-unit limit is $832,750. The high-cost ceiling for one-unit properties is $1,249,125. The limit applies to the loan amount, not the purchase price, so a Texas buyer putting down a large share can still land under it.
Two wholesale programs cover the size range, and it helps to name them now.
- The portfolio program is a non-QM bank statement program that carries files to $6,000,000. Pricing and available terms vary by lender, borrower profile, property type, and full underwriting review.
- The bank program is a bank portfolio jumbo program that carries twelve-month-statement files to $30,000,000. Its credit floor is 680. Its ladder begins above $4,000,000 and overlaps the portfolio program to $6,000,000. Above $6,000,000 it stands alone.
Which program a file lands in depends on loan size, occupancy and credit. A broker sees both sets of guidelines at once. A single lender’s page shows only its own.
Key Terms Defined
Non-QM: a mortgage that falls outside the standard qualified-mortgage box, usually because income is documented differently, not because the borrower is weak.
Bank statement loan: a loan that measures income from deposits in your bank accounts instead of from traditional personal-income documentation.
Expense ratio: the share of business deposits the lender treats as operating costs rather than income.
Debt-to-income (DTI): your monthly debts, including the new housing payment, divided by your qualifying monthly income.
Reserves: liquid assets left after closing, counted in months of the housing payment.
Loan-to-value (LTV): the loan amount divided by the property’s value or price.
Who This Loan Fits (and Who Should Look Elsewhere)
This loan fits borrowers whose traditional personal-income documentation understates what they actually earn. That includes founders, physicians, attorneys, entertainers, athletes and investors with heavy write-offs. Scotsman Guide notes that bank statement loans let self-employed borrowers qualify on actual income rather than what the tax return shows. It also says each file needs extra diligence, because these loans are not one size fits all.
It is a poor fit in three cases:
- Your deposits are thin or erratic, and no expense ratio rescues the math.
- You are buying a rental whose own income should carry the deal. A DSCR loan, which qualifies primarily on property-level rental income covering the payment, subject to lender guidelines, skips personal DTI. Lendmire’s complete DSCR loans guide explains when that route wins.
- You hold large liquid assets but irregular income. An asset path may fit better, and it appears below.
How Underwriting Turns Deposits Into Income
The lender converts your statements into a single monthly income figure in five steps. The steps are the same at every loan size, but the tests that follow get stricter as the loan grows.
1. Choose the window. You supply 12 or 24 consecutive months of personal or business statements. The bank program uses 12. Statements must be consecutive, and transaction histories never substitute for them.
2. Clean the deposits. Transfers between your own accounts, loan proceeds, gifts and one-time windfalls are typically excluded. Transfers from your own business into a personal account count in full.
3. Apply the expense ratio. On business statements, the lender subtracts an expense ratio from eligible deposits. The fixed options 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, which is capped at 80%.
4. Divide by the months. Eligible deposits after the expense ratio, divided by the months in the window, give monthly qualifying income.
5. Run DTI. Your other debts and the new housing payment go against that income, and the total can reach 50% on these programs.
Here is the idea in ratios. Say a service business with no employees shows steady eligible deposits. At the 20% ratio, 80% of average monthly deposits counts as income. The same deposits in a business with six or more employees would count at 50%. The deposits did not change, but the qualifying income did, which is why an accountant’s ratio is worth asking about.
Personal statements work differently. They typically carry no expense ratio because the deposits are already your own money. If you own less, the lender will not count the business’s cash flow as yours.
Which Deposits Count?
| Deposit type | Typical treatment |
|---|---|
| Transfer from your own business to personal | Counts at 100% |
| Transfer between your own personal accounts | Excluded |
| Loan proceeds | Excluded |
| Gifts | Excluded |
| One-time windfall (asset sale, refund) | Typically excluded |
| Large unexplained deposit | Needs a written explanation |
Mixing personal and business money in one account does not disqualify you. It does mean the underwriter must trace which dollars are revenue, and that takes explanation.
The Qualification Checklist
Income is only one test. These are the figures that apply across the two programs, through select wholesale programs and subject to full underwriting.
| Factor | Typical requirement |
|---|---|
| Credit floor | 660 portfolio, 680 bank, 700 above super-jumbo line |
| DTI | Up to 50% |
| Reserves | 3 months to $500,000; 6 to $1,500,000; 9 above |
| Extra properties | 2 more months per additional financed property, 12-month maximum |
| First-time investors | 12 months of reserves |
| Statement window | 12 or 24 months (bank program: 12) |
Reserves are separate from income. Twelve months of deposits do not prove you have cash in the bank on closing day, so underwriters ask for recent asset statements on every account they count.
How Much Can You Borrow? The Leverage Ladder
Leverage falls as loan size rises, with some steps back up where the bank program takes over. The ladder also depends on occupancy and transaction type. The tables below show the best available cell in each band through select wholesale programs. The credit figure is the score that band’s top leverage needs, not a program floor. A lower score takes a lower leverage cell inside the same band.
Primary residence in Texas:
| Loan size | Purchase | Cash-out | Credit for this leverage |
|---|---|---|---|
| $300K–$1M | 90% | 80% | 680+ |
| $1M–$1.5M | 85% | 80% | 700+ |
| $1.5M–$2M | 85% | 75% | 720+ |
| $2M–$3M | 80% | 70% | 720+ |
| $3M–$3.5M | 75% | 65% | 720+ |
| $3.5M–$4M (portfolio program) | 75% | 65% | 760+ |
| $4M–$5M (bank program, case by case) | 65% | 60% | 680+ |
| $5M–$6M (bank program, case by case) | 60% | 55% | 680+ |
Above $6,000,000, the bank program alone carries the ladder: 60% on a primary-residence purchase and 55% on a cash-out to $10,000,000, then 55% and 50% to $30,000,000. Every figure at that size is reviewed case by case before submission. Rate-and-term refinances on a primary residence run close to the purchase column and have their own cells, so ask for them when you scope a deal.
Investment property (business-purpose) takes its own ladder:
| Loan size | Purchase | Cash-out | Credit for this leverage |
|---|---|---|---|
| $300K–$1M | 85% | 75% | 700+ |
| $1M–$1.5M | 80% | 75% | 680+ |
| $2M–$2.5M | 80% | 70% | 720+ |
| $4M–$5M (portfolio program, case by case) | 65% | 55% | 760+ |
This table shows selected bands, not every one. Ask for the cell that matches your exact loan size.
Second homes have a ladder of their own, and they are limited to one unit. Read each figure from the occupancy’s own column, never by adjusting the primary-residence number. Borrowers often expect investment leverage to sit a fixed distance under primary leverage, and the gap actually varies from band to band.
Interest-only is a structure, not a leverage boost. On a purchase or rate-and-term refinance, the portfolio program allows interest-only to 85% LTV with a 700 floor, on a 40-year term with a 10-year interest-only period. The bank program allows it to 60%, on 5- and 7-year fixed-period adjustables. It never raises a cash-out ceiling. Terms depend on the lender’s guidelines, the property type, the leverage, and a full review of the credit profile.
Overlays That Kick In at Super Jumbo Size
Above $3,500,000 on a primary residence, and above $3,000,000 on a second home or investment property, the portfolio program adds overlays:
- A 700 credit floor.
- A 0x30x24 housing history, meaning no late mortgage or rent payments in the last 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, with a ten-acre maximum.
- Cash-out proceeds cannot satisfy reserves.
The acreage limit matters for Texas buyers, because ranch-style and acreage properties are common here. Lendmire’s piece Can a Twenty-Acre Property Qualify for a Super Jumbo Bank Statement Loan? covers that edge case. Rural property can reach 80% on ten acres or less, but never above $3,000,000.
When Cash-Out Is the Goal
Cash-out is unlimited at or below 60% LTV on a cash-out refinance. Above 60%, the portfolio program caps cash in hand at $1,500,000. The bank program publishes no cap. Cash-out proceeds also cannot count toward your reserves once a file is in the super-jumbo overlay range. The exact numbers vary by lender and program and follow a full review of property, leverage, and credit.
Texas Homestead Cash-Out: The One State-Specific Edge
In practice, a Texas purchase and a Texas primary-residence cash-out are different files. Through the portfolio program, a Texas 50(a)(6) home-equity loan takes a 5-point LTV reduction and stops at $3,000,000. Confirm the current rules with Texas counsel before you plan around this.
A cash-out on a rental you own generally falls outside that homestead rule and follows the investment-property ladder above. Before assuming either path, tell your broker which property secures the loan.
Does Non-QM Mean Less Verification?
No. Non-QM changes how income is measured, not whether it is verified. Bank statements are one way to document it.
A loan on an owner-occupied home is a consumer mortgage. A loan on a non-owner-occupied rental is a business-purpose investor loan, and it is reviewed differently from a standard owner-occupied mortgage.
Asset Paths When Income Is Uneven
Two asset-based routes exist through select wholesale programs. Both apply mostly to primary and second homes.
Asset allowance converts liquid assets into monthly income by dividing them by a set number of months:
- 36 months, when your DTI before the asset income is at or below 60%.
- 60 months, when that ratio is above 60%.
- 84 months, for standalone use or any loan above $3,500,000.
The pre-asset test only picks the divisor. With the asset income counted, your DTI must still fit the 50% ceiling. LTV tops out at 80%.
Assets-only uses no DTI at all. You qualify when U.S. liquid assets 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% once you are 59.5 or older. Business funds, gifts, trusts other than a revocable living trust, unvested stock and cryptocurrency never count.
Where the General Rule Breaks
K-1 income. Pass-through income you did not take as cash raises its own questions. Lendmire’s piece Does Undistributed K-1 Income Qualify on a Super Jumbo Bank Statement Loan? walks through it.
Write-offs. A business owner who writes off aggressively can show low tax-return income and strong deposits. That gap is exactly what bank statement underwriting measures. Tax treatment varies; consult a qualified professional.
Property type. At smaller loan sizes, warrantable condos reach 85% and non-warrantable condos 80%. Condotels reach 75% on a purchase and 65% on a cash-out, or 50% on a cash-out under the bank program. Two-to-four unit properties reach 85%. The occupancy ladder above still governs the actual cell.
Over $4,000,000. Every figure there is reviewed case by case before submission. Treat any ceiling at that size as a starting point for a conversation, not a quote.
Lender variation. One lender’s statement conventions are not another’s. Some average the deposits of a single account, others allow several, and expense ratios differ by program. That variance is why a comparison across programs matters at this size.
Bank Statement, DSCR or Asset Path?
| If this describes you | Likely fit |
|---|---|
| Self-employed, strong deposits, a primary residence | Bank statement |
| Buying a rental that carries its own payment | DSCR |
| Large liquid assets, irregular income | Asset allowance or assets-only |
| Business owner with 25%+ ownership, high write-offs | Business bank statements |
Programs below 1.00 coverage are available on the DSCR side through select lenders in the network, though LTV and terms adjust.
A 90-60-30 Readiness Checklist
- 90 days out: pull 12 to 24 months of statements. Flag every large or unusual deposit and write a one-line explanation for each. Stop moving money between accounts without a reason.
- 60 days out: ask your accountant whether a prepared expense ratio would beat the fixed options. Gather recent asset statements for every account you want counted toward reserves. Confirm the property type, acreage and occupancy so the right ladder applies.
- 30 days out: check your credit score against the leverage you want, since a lower score means a lower cell in the same band. Confirm reserves, including the extra months for any other financed properties.
Frequently Asked Questions
What credit score do I need?
The floor is 660 on the portfolio program, 680 on the bank program and 700 above the super-jumbo line. Those are floors, not the scores that unlock top leverage. Each loan-size band has its own credit figure for its best cell, and a lower score takes a lower leverage cell. All of this is through select wholesale programs, subject to full underwriting.
Should I use 12 or 24 months of statements?
Use whichever window shows steadier, higher deposits. Twelve months works if your recent year is strong, and the bank program uses 12. Twenty-four months smooths out an uneven stretch but exposes any slow months. A broker can run both and compare the qualifying income.
Can I use business statements if I own only part of the company?
You need at least 25% ownership for business statements to count. Qualifying income is then based on eligible deposits after the expense ratio, divided by the months in the window. Below 25%, the file generally shifts to personal statements or an asset path.
Can I buy a rental with a super jumbo bank statement loan?
Yes, on an investment property through select wholesale programs, with its own leverage ladder. Rentals carry lower leverage than primary residences at most sizes. If the property’s rent should carry the deal, a DSCR loan may fit better and skips personal DTI.
Does a Texas cash-out on my home work the same way?
No. A cash-out on a Texas homestead follows the state’s 50(a)(6) rules, and the portfolio program applies a 5-point LTV reduction and stops at $3,000,000. A rental cash-out follows the investment-property ladder instead.
Compare Your Options
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 holds consumer mortgage licensing in 16 states, Texas among them, and you can reach the team at 828-256-2183.
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 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 2026.
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References
1. Orrick InfoBytes — FHFA conforming loan limit increases
2. Scotsman Guide — Don’t Shut the Door on Quality Borrowers
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 Trust Hold Title on a Super Jumbo Bank Statement Loan? · How to Qualify for a Super Jumbo Bank Statement Loan in Michigan · How a Super Jumbo ARM Bank Statement Loan Works
Guides: Super Jumbo Bank Statement Loans in Texas
Brandon Miller
Founder & CEO, Mortgage Loan Originator, Lendmire LLC
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- 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.