The Quick Read: A super jumbo ceiling is not one number. It is the lowest of several limits, and each lender type sets those limits differently. A founder who has just sold a company is usually reviewed on assets, on property cash flow, or on a mix of the two, because recent income looks thin on paper. Across the wholesale network Lendmire works with, files run from $300,000 to $30,000,000 through two programs, subject to full underwriting.
- Two wholesale programs cover the range. A portfolio non-QM program (a loan the lender keeps on its own books, outside standard agency rules) carries files to $6,000,000. A bank portfolio program carries twelve-month-statement files to $30,000,000.
- Maximum leverage falls as the loan grows, and every loan above $4,000,000 is reviewed case by case before submission.
- Income can come from 12 or 24 months of deposits, from liquid assets, or from the property’s rent.
- For a post-sale founder, the documentation path usually decides the ceiling before the price tag does.
What Does “Super Jumbo” Actually Mean?
Nobody defines it. The only official line in the jumbo world is the conforming loan limit, and everything above it is a lender’s own choice. One lender calls a loan jumbo where another calls it super jumbo. Trade press stays loose on the point: Scotsman Guide describes non-QM jumbo loans as reaching $3 million or more, and puts non-QM at about 5% of all mortgages.
Non-QM simply means the loan does not fit the standard agency box. For a founder, that is usually about size or income shape, not weak credit. Across the wholesale programs Lendmire places files with, the practical range runs from $300,000 to $30,000,000, through select wholesale programs, subject to full underwriting. No single lender covers all of it, which is why lender type matters so much.
Why Do Ceilings Differ by Lender Type?
Ceilings differ because of who holds the loan. A loan that can’t be sold into a standard channel stays on the balance sheet of whoever funds it. That holder decides how much concentration risk it will carry, and it builds that decision into size, leverage, credit and reserves.
Lenders also run more than one program. Each program has its own maximum and its own documentation path. A large bank may have one ladder for a salaried borrower and a different one for a self-employed founder. Here is how the main lender types compare in practice.
| Lender type | Who sets the ceiling | Posture at the top | Post-sale read |
|---|---|---|---|
| Agency-style conforming | A regulator, once a year | Stops at the limit | Needs income history |
| Large retail bank jumbo | The bank’s own policy | Tight, relationship-driven | Prefers steady payroll |
| Portfolio non-QM program | Program matrix | Files to $6,000,000, case by case above $4,000,000 | Deposits or assets can carry it |
| Bank portfolio program | Bank’s own ladder | Files to $30,000,000, case by case | Twelve-month statements |
| DSCR investor path | Property’s rent and matrix | Depends on lender matrix | Rent carries the file |
The two middle rows are where most post-sale founders end up. The portfolio non-QM program reaches $6,000,000. The bank portfolio program begins above $4,000,000, overlaps the first program up to $6,000,000, and stands alone above that. Both are reached through a broker, and neither lender is named here because programs change.
The Stack of Limits Behind Every Ceiling
The ceiling you actually get is whichever limit binds first. Here are the six that matter, in the order a file usually runs into them.
1. Loan amount. Each program has a maximum, and those maximums overlap rather than hand off cleanly.
2. Leverage at that size. Maximum loan-to-value (LTV, the loan as a share of the property’s value) drops as the balance rises.
3. Credit tier. Each leverage cell needs a score, and a lower score moves you to a lower cell.
4. Reserves. Reserves are months of housing payments held in liquid funds after closing. Programs typically require more months of reserves as the loan amount grows, add reserves for each additional financed property, and often ask first-time investors to hold more. Exact requirements vary by program and lender.
5. Documentation path. Deposits, assets and property cash flow each produce a different coverage figure.
6. Cash-out cap. Taking cash out lowers leverage and adds limits of its own.
For a founder, documentation usually binds first. If the property is a rental and you want to pull cash out of it, Lendmire’s piece on how much a super jumbo DSCR cash-out can release for a founder after a sale picks up where this stack ends.
How Leverage Steps Down as the Loan Grows
Every figure below is a ceiling for a primary residence, through select wholesale programs, subject to full underwriting. The bands are loan amounts, not purchase prices. Multiply price by leverage first, then read the band that loan lands in. Above $4,000,000, every figure is reviewed case by case before submission, never promised.
| Loan band | Purchase | Rate-term | Cash-out | Program |
|---|---|---|---|---|
| $300K–$1M | 90% | 90% | 80% | Portfolio |
| $1M–$1.5M | 85% | 85% | 80% | Portfolio |
| $1.5M–$2M | 85% | 85% | 75% | Portfolio |
| $2M–$2.5M | 80% | 80% | 70% | Portfolio |
| $2.5M–$3M | 80% | 80% | 70% | Portfolio |
| $3M–$3.5M | 75% | 75% | 65% | Portfolio |
| $3.5M–$4M | 75% | 70% | 65% | Portfolio, super-jumbo overlays |
| $4M–$5M (case by case) | 65% | 65% | 60% | Bank portfolio |
| $5M–$6M (case by case) | 60% | 60% | 55% | Bank portfolio |
| $6M–$10M (case by case) | 60% | 60% | 55% | Bank portfolio |
| $10M–$20M (case by case) | 55% | 55% | 50% | Bank portfolio |
| $20M–$30M (case by case) | 55% | 55% | 50% | Bank portfolio |
Between $4,000,000 and $6,000,000, the portfolio non-QM program can also review a file case by case. The figures printed for those two bands are the bank portfolio program’s cells, so read them as the ladder to start from. Each band carries its own figures. The top cell in each band needs a certain score. The first band’s 90% purchase cell needs 680 or better, and the portfolio bands up to $3,500,000 need between 700 and 720 at their top cells. The $3.5M–$4M band needs 760 for its best cell. The bank program’s bands need 680 at their top cells.
Those scores are not floors. The portfolio program’s floor is 660 up to the super-jumbo line and 700 above it. The bank program keeps a 680 floor at every size. A lower score gets a lower cell inside the same band.
Second homes and investment property use their own ladders. The purchase ceilings equal the primary figure in some bands and sit as much as 15 points under it in others, so read each figure from the occupancy’s own ladder. Never subtract from the primary one.
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 and a 0x30x24 housing history;
- 48 months of seasoning after any credit event;
- U.S. citizens and permanent residents only;
- no non-occupant co-borrowers and no rural property, with a ten-acre maximum;
- cash-out proceeds that cannot satisfy reserves.
Where the Official Line Sits
The conforming limit is the only regulated number in this story. The Federal Housing Finance Agency sets it each year, and it varies by county and unit count. Calculated Risk, quoting the agency’s release, reports a current one-unit baseline of $832,750. The high-cost ceiling for one unit is $1,249,125, or 150% of the baseline. The limit does not fall when prices fall.
A founder buying above those numbers is in jumbo or non-QM territory by definition. The limit marks where agency-style loans stop. It tells you nothing about where a private lender’s appetite ends, so don’t read it as a ladder rung.
How Each Path Reads a Post-Sale Founder
A post-sale founder looks strange on paper. Liquidity is large, and recent earned income is small or lumpy. Each documentation path treats that differently.
Deposits. Through select wholesale programs, the bank-statement path uses 12 or 24 consecutive months of personal or business statements. The bank program uses 12. Business statements need at least 25% ownership. Qualifying income is eligible deposits divided by the statement months, after an expense ratio of 20%, 40% or 50% depending on the business, or an accountant-provided ratio. A profit-and-loss method is capped at 80%.
Transfers from your own business into your personal account count in full. A one-time sale deposit is a different animal, because an underwriter will usually treat it as an asset rather than recurring income. Ask each program how it treats a recent liquidity event. Practices vary, and each file is underwritten individually.
Assets. Asset allowance converts liquid assets into monthly income. It divides them by 36 months as a supplement when your 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%, and by 84 months when assets stand alone or the loan exceeds $3,500,000. The 60% test only picks the divisor. The final ratio must still fit the 50% ceiling. Asset allowance applies to primary and second homes only, up to 80% leverage. Terms depend on the lender’s guidelines, the property type, the leverage, and a full review of the credit profile.
Assets-only needs no debt-to-income test. U.S. liquid assets must equal 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, most trusts (a revocable living trust is the exception), unvested stock and cryptocurrency never count. If your proceeds still sit inside a holding company, they do not qualify until they reach your personal accounts.
Property cash flow. 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. A DSCR file qualifies primarily on property-level rental income covering the payment, subject to lender guidelines. Programs below 1.00 coverage are available through select lenders in the network, though leverage and terms adjust. Title can sit in an LLC, subject to program terms. Lendmire’s complete DSCR loans guide covers that path in full.
Tax treatment varies by how funds are used and held, so consult a qualified professional before relying on any deduction.
Run It: One Founder, Two Paths
Take a founder with a 700 credit score buying a $2,000,000 primary residence on a purchase. Deposits are thin, so the founder uses asset allowance, with liquid assets divided by 84 months because the file stands on assets alone. The founder asks for 80% leverage, which is the most asset allowance permits. That loan lands in the $1.5M–$2M band. The top 85% purchase cell there needs 720 or better, so a 700 score would sit in a lower cell even without the asset-allowance cap. Reserves for a loan this size run to 9 months in the typical range. Each figure is subject to lender guidelines and a complete review of property type, leverage, and credit.
Now say the same founder wants a much larger property that no longer fits the portfolio program. The bank portfolio program takes over, on a twelve-month statement file with a 680 floor. Leverage is lower, and every figure is reviewed case by case. Interest-only is available on the bank program to 60%, in the 5- and 7-year fixed-period adjustable structures, while a 10-year fixed-period adjustable is fully amortizing.
On the first file, the binding limits are the 80% asset-allowance cap and the credit tier, not the loan amount. On the second, it is leverage. That is why two founders with identical wealth can see different ceilings.
Where the General Rule Breaks
Several edge cases shift the ceiling, and none shows up in a marketing headline.
- Interest-only never raises a cash-out ceiling. On the portfolio program, interest-only runs to 85% on purchase and rate-term files with a 700 floor, on a 40-year term with a 10-year interest-only period. Cash-out still tops out at the cash-out column above, with a best of 80% on a primary residence. The bank program’s interest-only tops out at 60%, or the band’s ceiling if lower.
- Cash-out has its own cap. Proceeds are unlimited at or below 60% LTV. Above 60% on the portfolio program, cash in hand is capped at $1,500,000. The bank program has no published cap.
- Property type moves the number. Warrantable condos run to 85% and non-warrantable to 80%. Condotels take 75% on a purchase and 65% on cash-out, or 50% on the bank program. Two-to-four-unit properties run to 85%. Second homes are one-unit only. Rural property runs to 80% on ten acres or less and never above $3,000,000.
- Texas home-equity loans take a 5-point LTV reduction and stop at $3,000,000 on the portfolio program.
- Occupancy decides the path. If you plan to live in the property, the rental route is closed and you need a documented-income program. The exact numbers vary by lender and program and follow a full review of property, leverage, and credit.
Which Lender Type Fits You?
Match the lender type to your liquidity, income and use of the property.
- Large liquid balance, thin income, primary or second home: start with asset allowance or assets-only.
- Steady business deposits, owner of 25% or more: bank statements, usually 12 months, sometimes 24.
- Rental property with strong rent: the DSCR path, where the property carries the file.
- Loan above the portfolio program’s reach: the bank portfolio program, twelve-month statements, case by case.
- Citizenship or credit-event issues above the super-jumbo line: expect the overlays above to narrow your choices.
One more thought on strategy: it is often worth running the same property through two paths. Asset allowance can produce more qualifying income than deposits, while deposits can support a bigger loan when assets are tied up. The right answer depends on the file.
Key Terms Defined
Super jumbo: a loan above the size where a lender stops treating it as ordinary jumbo, with no official definition.
Conforming loan limit: the annual maximum size for agency-style loans, and the only regulated line.
Non-QM: a loan that doesn’t fit the standard agency box, often because of size or how income is documented.
Portfolio program: a program where the lender keeps the loan on its own books and sets its own rules.
LTV: loan-to-value, the loan as a percentage of the property’s value.
Reserves: months of housing payments held in liquid funds after closing.
Asset allowance: a method that turns liquid assets into monthly qualifying income by dividing them over a set number of months.
DSCR: debt service coverage ratio, the property’s rent divided by its full monthly obligation.
Frequently Asked Questions
Is there an official super jumbo limit?
No. Only the conforming loan limit is official. Everything above it is set by each lender’s program, so the line can sit in a different place from one lender to the next.
Can I qualify right after selling my company?
Often yes, but usually on assets rather than income. Through select wholesale programs, asset allowance and assets-only both exist, and business funds don’t count until they reach your personal accounts. Each file is underwritten individually.
Do sale proceeds count as income?
Generally not. They are treated as assets, which can support qualification through the asset paths or serve as reserves. Cash-out proceeds cannot satisfy reserves above the super-jumbo line.
Why does my ceiling drop as the loan grows?
Larger loans carry more risk for the lender that holds them. Leverage steps down by band, reserve requirements grow, and every loan above $4,000,000 is reviewed case by case before submission. Final terms depend on the lender’s guidelines, the property type, and the borrower’s complete credit picture.
What if one lender declines me?
Try a different program with a different documentation path before changing the property. A founder declined on deposits may fit on asset allowance, or a bank program may take a file the portfolio program can’t. A broker can compare these across the wholesale network.
If You’re Ready to See the Numbers
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 is a mortgage broker, not a lender, and it arranges financing through select wholesale programs. Its 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 change, and every file is underwritten individually. Nothing here is a commitment to lend.
If you are weighing a cash-out on a rental you already own, Lendmire’s article on LTV and seasoning limits for super jumbo DSCR cash-out by lender type covers what to have in place first.
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.
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References
1. Scotsman Guide: One out of 20 mortgages are non-QM
2. FHFA conforming loan limit data page
3. Calculated Risk, quoting the FHFA release
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 Document Founder Distributions on a Super Jumbo Bank Statement Loan · How Super Jumbo Loan Limits Work by Lender Type Without Tax Returns · How Jumbo Loan Maximums Work by Lane, and Where Super Jumbo Starts
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.