The Quick Read: You keep your shares by qualifying on twelve or twenty-four months of bank deposits after an expense ratio, letting the brokerage balance serve as reserves or supplemental asset income, and sourcing the down payment from cash you already hold, through select wholesale programs and subject to full underwriting.
- Your deposits, not your traditional personal-income documentation, set the income the lender uses.
- Your brokerage statement can count as liquid assets, so the shares stay invested.
- Leverage steps down as the loan grows, and everything above $4,000,000 is reviewed case by case before submission.
- The down payment is the pressure point. Know where that cash comes from before you pledge or draw on anything.
- Rent can carry the file instead of deposits when the property is a rental.
Why Do Stockholders Want to Avoid Selling?
Selling appreciated shares can create a taxable gain and ends your exposure to the position’s future growth. Most buyers with a large stock position want the house and the portfolio. A super jumbo bank statement loan is built for that borrower.
The timing matters too. A sale in a bad market locks in a price you did not choose. Meanwhile the closing date on a home does not move for your portfolio.
Not selling is not always right, and a later section covers when a sale is the cleaner move. First, the vocabulary.
Key Terms Defined
Super jumbo: a loan above the lender’s own high-balance line. No government line defines it, so each lender sets its own dollar threshold. In our wholesale network, the tighter overlays start above $3,500,000 on a primary residence and $3,000,000 on a second home or investment property.
Bank statement loan: a mortgage that is reviewed around deposits in your bank statements instead of traditional personal-income documentation.
Expense ratio: the share of gross business deposits treated as overhead before income is counted.
Asset allowance: a path that turns liquid assets into qualifying income by dividing them over a set number of months.
Assets-only: a path with no income test, where liquid assets must cover the loan, closing costs, and certain other costs.
Securities-backed line of credit (SBLOC): a credit line secured by your investment portfolio.
LTV (loan-to-value): the loan amount as a percentage of the property’s value.
DTI (debt-to-income): your monthly debts as a percentage of your monthly qualifying income.
Reserves: liquid funds left after closing, counted in months of the payment.
What Are Your Routes to a Large Loan Without a Sale?
Four qualifying lanes exist, and they fit different borrowers. The lender chooses nothing for you here. You pick the lane by what you can still document. Across the wholesale network, the choice usually comes down to deposits, assets, or property rent.
| Lane | What the lender looks at | Best for | Main trade-off |
|---|---|---|---|
| Bank statements | Deposits after expense ratio | Founders, physicians, attorneys | Messy deposits shrink income |
| Asset allowance | Liquid assets over 36, 60 or 84 months | Stock-rich, income-light | Primary and second homes only |
| Assets-only | Liquidity vs. loan plus costs | Very large portfolios | Needs a lot of countable cash |
| DSCR | Rent covering the payment | Rental purchases | Property must be a rental |
These lanes are not mutually exclusive on every file. Whether a lender lets you stack income types varies by program, so ask before you assume.
How Does a Bank Statement File Treat Your Stock?
It leaves the stock alone. Underwriting counts deposits as income. The brokerage account either supports reserves or, on some files, adds supplemental asset-based income. Nothing requires you to sell.
Here is the mechanical sequence.
1. Choose twelve or twenty-four months of statements. The non-QM portfolio program accepts either. The bank portfolio program uses twelve. Statements must be consecutive. A transaction history printout never substitutes.
2. Pick personal or business statements. Business statements need at least 25% ownership.
3. Total the eligible deposits. Transfers from your own business into your personal account count at 100%. Transfers between your own accounts do not count as new income.
4. Apply the expense ratio. The program sets fixed expense ratios that vary with the type of business and how many employees it has, and a product business is treated differently from a service business. Or use an accountant-prepared ratio. A profit-and-loss method exists, with a cap on the expense factor.
5. Divide by the statement months. That gives qualifying monthly income.
6. Test DTI. Programs allow DTI up to 50%.
The credit floor is 660 on the non-QM portfolio program and 680 on the bank portfolio program. Above the super-jumbo line, it rises to 700 on the non-QM program. All figures come through select wholesale programs, subject to full underwriting.
Every lane needs credit, an appraisal, and title work too. A clean bank statement file still gets individually underwritten. If you want the full picture of how non-owner-occupied rental files qualify, Lendmire’s complete DSCR loans guide covers that lane in depth.
How Do Asset Paths Work if Your Deposits Are Thin?
Asset allowance turns liquid holdings into income by dividing them over a depletion period. Use 36 months when the assets supplement other income and DTI before the asset income is at or below 60%. Use 60 months when that DTI is above 60%. Use 84 months when assets are your only income or the loan is above $3,500,000. It applies to primary and second homes only, capped at 80% LTV. Final terms depend on the lender’s guidelines, the property type, and the borrower’s complete credit picture.
Assets-only skips the DTI test. In exchange, U.S. liquid assets must equal the loan amount, closing costs, and sixty months of any net loss on your other residential property.
What counts is narrower than most people expect.
- Retirement accounts count at 70%, or 80% at age 59½ and older.
- Revocable living trust assets count. Other trusts do not.
- Business funds, gifts, unvested stock, and cryptocurrency never count.
So vested shares in a brokerage account are the cleanest fit. Every counted dollar needs a statement with your name and a balance. Assets-only means no income test, not no paperwork.
What Leverage Can You Expect as the Loan Grows?
Leverage shrinks as the balance rises. These are ceilings through select wholesale programs, subject to underwriting, and credit requirements climb with them.
On a primary residence purchase, ceilings run:
- 90% up to $1,000,000
- 85% up to $2,000,000
- 80% up to $3,000,000
- 75% up to $4,000,000, at the top credit tier
Second homes and investment properties take their own ladders, and the figures differ by band, so read each from its own occupancy.
Above $4,000,000, every file is reviewed case by case before submission. The bank portfolio program takes over there, and on a primary-residence purchase it steps 65% to $5,000,000, 60% to $10,000,000, and 55% to $30,000,000, each on review. Its ladder begins above $4,000,000 and overlaps the non-QM portfolio program, which carries files to $6,000,000. Above $6,000,000 it stands alone.
Reserves scale with size: 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. Lendmire’s piece How to Reserve a Super Jumbo Bank Statement Loan Without Liquidating walks through the reserve side in detail.
What About Borrowing Against Your Portfolio for the Down Payment?
This is the part to slow down on. A securities-backed line of credit can let you raise cash without selling. FINRA notes that this route may avoid capital gains tax because you don’t sell. It also lists the risks: unintended tax consequences, a possible forced sale, and volatility that magnifies losses.
FINRA adds that some lenders of these lines may not run a credit check and may set the limit purely on portfolio value. That makes the line easy to over-extend.
The mortgage side raises a separate question. Whether a lender treats a draw as down payment, as new debt, or nets it against your assets is a lender policy matter. It differs across programs. Ask before you pledge anything, not after.
Keep the draw modest relative to the approved limit. A large drop in the portfolio can trigger a collateral call, and a call can force the sale you were trying to avoid.
What Does the Documentation and Sourcing Checklist Look Like?
Underwriters want a clean trail. For a stock-rich borrower the trail has two halves: income and cash to close.
- Twelve or twenty-four months of consecutive statements for the accounts that carry your deposits
- Brokerage statements showing vested, liquid holdings in your name
- A record for any business transfer into your personal account
- Your expense ratio inputs, such as headcount or an accountant’s letter
- Credit authorization and an appraisal
- A documented source for the down payment and closing funds
One habit prevents most headaches. Do not shuffle large sums between accounts in the months you are documenting. Unexplained movements make an underwriter ask questions, and answers take time to assemble.
Where Does the General Rule Break?
Five edge cases trip up otherwise strong borrowers.
Retained earnings are not liquidity. Profit left inside a loan-out corporation generally cannot count on an asset path. Only cash distributed, with a documented trail into a personal account, counts as usable liquidity. K-1 profit on paper is not cash.
Stacking income types is lender-specific. Combining bank statement income with asset allowance on one file works with some programs and not others. Treat it as a question for your broker, not an assumption.
Retirement accounts count at a haircut. They appear at 70%, or 80% past 59½. Treat them as supporting, not primary, liquidity.
Cash-out proceeds cannot satisfy reserves above the super-jumbo line. Cash-out is unlimited at or below 60% LTV. Above 60% LTV, the non-QM portfolio program caps cash in hand at $1,500,000. The bank portfolio program publishes no cap. Lendmire’s piece Super Jumbo Bank Statement Cash-Out Documentation Without Tax Returns covers that route. Each figure is subject to lender guidelines and a complete review of property type, leverage, and credit.
Super-jumbo overlays tighten the file further. Above $3,500,000 on a primary residence and $3,000,000 on a second home or investment property, expect a 700 credit floor, a clean 0x30x24 housing history, and 48 months of seasoning after any credit event. Borrowers must be U.S. citizens or permanent residents. Non-occupant co-borrowers and rural property are out, and acreage tops out at ten.
What Does a Rental Purchase Change?
If the property is a rental, rent may carry the file better than 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.
The file qualifies primarily on property-level rental income covering the payment, subject to lender guidelines. Your stock still sits untouched. On an investment property, leverage follows its own ladder by loan size, so take each figure from that ladder rather than from the primary-residence numbers.
Worked Example
Consider a founder who owns a services company and holds a large brokerage position of vested shares. She wants a $2,500,000 primary residence.
Her traditional personal-income documentation shows modest income after write-offs. Her business transfers steady distributions into her personal account, and those count in full. The lender applies a 40% expense ratio to her business deposits. She uses twenty-four months of statements because the older months are stronger.
On a primary-residence purchase at this size, ceilings run around 80%, with credit at the 720 tier. Her down payment comes from cash she already holds in a savings account. The brokerage balance sits as reserves, and with a loan above $1,500,000 she needs nine months of reserves. The shares stay invested.
That is the clean version. The shaky version has her drawing on a portfolio line the week before application, which opens questions about debt and sourcing.
Which Path Fits You?
| Borrower | Likely lane | Watch for |
|---|---|---|
| Founder or business owner | Bank statements | Expense ratio and clean transfers |
| Physician or attorney, self-employed | Bank statements | Consecutive statements |
| RSU holder with vested shares | Asset allowance | Unvested shares never count |
| Retiree with large portfolio | Assets-only or allowance | Retirement haircut |
| Rental buyer | DSCR | Rent versus payment |
This is a general guide. Your credit profile, property type, and loan size shift the answer.
When Selling Is the Better Move
Sometimes selling stock wins. If a position is concentrated and you want to cut risk anyway, a sale does two jobs. If the shares are unvested, they cannot count regardless. And if your deposits are weak and the loan is small, a lower loan amount funded partly by a sale can be the simplest file.
(Honestly, the strongest play is often a partial sale plus a smaller loan, though borrowers who hate the tax bill will argue the other way.) Tax treatment varies; consult a qualified professional before choosing between a sale and a borrowing strategy.
Does Non-QM Mean Skipping Underwriting?
No. Under the federal ability-to-repay rule, 12 CFR 1026.43, a lender must verify the income or assets it relies on using third-party records. The CFPB’s compliance guide lists bank account statements and investment account statements among acceptable records. It also says only the income or assets actually used to qualify must be verified.
That is why every counted dollar needs a statement. Non-QM changes what documents qualify you. It does not remove the review.
Step-by-Step: From Holding Stock to a Submitted File
1. Decide the lane: deposits, assets, or rent. 2. Gather consecutive statements and brokerage statements. 3. Tally eligible deposits and apply the right expense ratio. 4. Confirm which accounts count as liquid and in your name. 5. Source the down payment and reserves without moving large sums around. 6. Run the loan size against the leverage ladder and reserve schedule. 7. Submit the file for review; above $4,000,000, review happens before submission.
Frequently Asked Questions
Do I have to sell stock to get a super jumbo bank statement loan?
No. Income comes from deposits after an expense ratio, and brokerage holdings can count as liquid reserves without being sold. The down payment still has to come from documented cash. Qualification remains subject to full underwriting through select wholesale programs.
How big can the loan be?
Loans run from $300,000 to $30,000,000 across two wholesale programs. The non-QM portfolio program carries files to $6,000,000. The bank portfolio program takes files to $30,000,000 on its own ladder, and everything above $4,000,000 is reviewed case by case before submission.
Can unvested shares or crypto count?
No. Unvested stock and cryptocurrency never count as assets. Vested, liquid U.S. holdings in your name are what lenders credit, and retirement accounts count at 70%, or 80% at 59½ and older.
Can I use a securities-backed line for the down payment?
It depends on the program. Some lenders treat the draw as new debt or net it against your assets. These lines can force a sale if the portfolio drops. Ask your broker before you borrow.
Does a stock sale deposit count as income?
Generally not. Most programs treat proceeds from selling assets as a sourcing item for cash to close, not recurring income. Transfers from your own business into your personal account are different, and they count at 100%.
Next Step
Lendmire is a broker that shops multiple wholesale programs, and its consumer mortgage lending is licensed in AL, CA, CO, FL, GA, IN, MI, MT, NM, NC, OH, PA, TN, TX, VA, and WA. Nothing here is a commitment to lend.
The buyers who keep their portfolios intact tend to be the ones who document the deposits first and the down payment second.
Lendmire’s self-employed mortgages page presents both super jumbo programs, bank statement and DSCR, side by side.
About Lendmire
Lendmire is a non-QM mortgage brokerage (NMLS# 2371349) arranging DSCR investor loans in 41 markets, including Washington, D.C. DSCR eligibility is generally reviewed around property-level rental income rather than personal income, subject to lender and program guidelines, a fit for self-employed investors and LLC-owned portfolios. Lendmire was recognized as a Scotsman Guide Top Mortgage Workplace in 2025 and 2026.
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References
1. FINRA, Securities-Backed Lines of Credit
2. CFPB, Regulation Z § 1026.43 (ability to repay)
3. CFPB, Ability-to-Repay and Qualified Mortgage Rule Compliance Guide
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 Much Can You Borrow With a 40-Year Super Jumbo Bank Statement Loan? · How a Super Jumbo Bank Statement Loan Works for an Executive Holding Mostly Stock · Can You Get a Fixed Super Jumbo Bank Statement Loan Over an IO ARM?
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.