Jumbo Loan Programs

The standard jumbo loan for borrowers who can fully document income, employment, assets, and reserves. Designed for strong wage earners, executives, professionals, and self-employed borrowers who want the most competitive jumbo pricing and are comfortable providing a complete financial file.

Borrowers generally qualify using traditional verification such as recent pay stubs, W-2s, personal and business tax returns when applicable, bank and investment statements, verification of employment, and documentation for any large deposits or additional income sources.

Built for self-employed borrowers, business owners, 1099 earners, consultants, and entrepreneurs whose tax returns may not fully reflect their true cash flow. This jumbo option allows qualified borrowers to use 12–24 months of personal or business bank statements instead of relying primarily on W-2s, pay stubs, or traditional tax-return income.

Income is typically evaluated by reviewing eligible deposits over the statement period and calculating an average monthly income figure. For business bank statements, lenders may apply an expense factor to account for operating costs; personal statements may be reviewed differently depending on program guidelines and account usage.

Borrowers should be prepared to provide consecutive bank statements, business ownership documentation, proof that deposits are business- or income-related, explanations for large or unusual deposits, and supporting items such as a P&L or CPA letter when needed.

Designed for independent contractors, consultants, freelancers, commission-based professionals, and business owners who have strong income but do not fit neatly into traditional W-2 or tax-return underwriting. Qualified borrowers may document income using 1099 earnings, a CPA-prepared profit-and-loss statement, or another lender-accepted business income summary instead of a full traditional income package.

For 1099 borrowers, lenders typically review reported contract income, continuity of work, year-over-year consistency, and whether expenses should be considered when calculating qualifying income. For P&L-only borrowers, a recent 12- or 24-month statement prepared or verified by a CPA, enrolled agent, or licensed tax professional is used, with net income supporting the loan request.

Common documentation may include current and prior-year 1099s, YTD earnings summaries, a signed CPA-prepared P&L, business license or entity documentation, evidence of self-employment history, asset statements, reserve verification, and explanations for any unusual income patterns.

Designed for high-net-worth borrowers who have substantial liquid assets but limited or non-traditional documented income. Instead of qualifying primarily through W-2s, pay stubs, tax returns, or business income, this jumbo option allows eligible assets to be converted into a monthly qualifying income figure for underwriting purposes.

Lenders typically review eligible assets such as cash, checking and savings, investment accounts, stocks, bonds, mutual funds, and certain retirement accounts. The usable asset balance may be reduced by down payment, closing costs, required reserves, and possible discounts for market volatility before being divided over a set period to create a notional monthly income amount.

Borrowers should be prepared to provide recent asset statements, documentation showing account ownership and access, explanations for large deposits or transfers, retirement account withdrawal terms when applicable, and verification that enough funds remain after closing to satisfy reserve requirements.

Designed for real estate investors purchasing or refinancing higher-balance investment properties. Instead of qualifying primarily with personal income, tax returns, W-2s, or pay stubs, this jumbo option focuses on the property's rental cash flow and whether that income is sufficient to support the monthly housing payment.

DSCR stands for Debt Service Coverage Ratio. Lenders compare the property's monthly rental income to the monthly principal, interest, taxes, insurance, and any association dues. A ratio at or above 1.00 generally means the property's rent covers the debt service; a higher ratio indicates stronger cash flow and a more favorable risk profile.

Common documentation may include a signed lease, market rent schedule or appraisal rent analysis, property appraisal, asset statements for down payment and reserves, entity documents if closing in an LLC, insurance information, and verification of taxes, HOA dues, or other property expenses used in the DSCR calculation.

Designed for jumbo borrowers who want lower required payments during an initial interest-only period while maintaining flexibility on a larger loan balance. Instead of paying principal and interest from day one, the borrower pays only the interest due for a set period — preserving cash flow for investments, business needs, liquidity planning, or other financial priorities.

Interest-only periods are commonly structured for 5, 7, or 10 years depending on the program. During that window, required payments do not reduce loan principal. Once the interest-only period ends, the loan typically converts to principal-and-interest payments over the remaining term, which can result in a higher monthly payment.

Borrowers should plan carefully for the payment reset, especially if the loan is paired with an adjustable-rate structure. Because principal is not being paid down during the interest-only phase, the strategy works best with a clear plan for future income, liquidity, refinancing, principal reduction, sale of another asset, or a defined holding period for the property.

Designed for borrowers who have recovered from a significant credit event — such as bankruptcy, foreclosure, deed-in-lieu, short sale, or mortgage charge-off — but may still be outside traditional jumbo or agency seasoning windows. This option focuses on current ability to repay, rebuilt credit profile, verified assets, and the documented circumstances surrounding the prior event.

Lenders typically review the type of credit event, the completion or discharge date, the reason it occurred, and how the borrower has managed credit since then. A stronger file will usually show re-established credit, on-time housing and installment payments, lower revolving utilization, stable income or assets, and no pattern of repeated derogatory activity.

Common documentation may include bankruptcy discharge or dismissal papers, foreclosure or short-sale settlement documents, deed transfer records, credit report explanations, letters of explanation, proof of extenuating circumstances when applicable, recent mortgage or rent history, asset statements, reserve verification, and documentation showing that the borrower has regained financial stability.