Jumbo Bank Statement Mortgage – Up to $5 Million
This flexible mortgage program allows borrowers to secure financing up to $5,000,000 using bank statements for income verification. Ideal for high-net-worth individuals, it accommodates both traditional and self-employed applicants.
Who Qualifies?
Eligible borrowers include wage earners (as co-borrowers) and self-employed professionals, such as C Corp and S Corp owners, LLC members, partners, and 1099 sole proprietors. This program is tailored for those with non-traditional income streams.:
Required Credit Scores and LTVs
* 700 – 90% LTV – $5,000,000
* 680 – 85% LTV – $4,000,000
* 660 – 85% LTV – $3,500,000
* 640 – 80% LTV – $3,000,000
* 620 – 80% LTV – $2,000,000
Income Documentations
* Wage Earners: W-2’s and paystubs
* Self Employed: Tax returns, business and personal
* 1-year 1040 plus schedule C
Required Reserves
* 3 Months (PITI/PITIA)
* 3 months PITI for all REO Real Estate Owned
Purpose / Loan-to-Value %
* Purchase – 10% Down Payment
* Rate & Term Refinance – 90% LTV Loan-to-Value
* Cash Out Refinance – 85% LTV Loan-to-Value
Eligible Property Types
* SFR Single Family Residence
* Condos – Warrantable & Non-Warrantable
* Condotels
Eligible Occupancies
* Owner-Occupied
* Non-Owner/Investment
* Second/Vacation Homes
Available Terms
* ARM: 3,5 and 7 Year
* 30-Year Fixed (Interest Only Available)
* 40 Year Fixed (Interest Only Available)
* “Housing Event” Credit Seasoning:
Credit Requirements
* Bankruptcy – 12 Months
* Foreclosure – 2 years required
* Short Sale – 2 years required
* Deed in Lieu – 2 years required
Required Credit Scores
* 610 Minimum
* 660 to 80% LTV – $500,000 Cash Out
* 680 to 90% LTV – $1,500,000
Credit Criteria
* Multiple foreclosures and short sales OK
Program Highlights
* 50% DTI Debt-to-Income ratio
* First Time Home Buyers – OK
* 100% Gift Funds from Family Member – OK
* Rent-free housing history OK
* Prepayment penalty options
* Investors: unlimited financed REO Real Estate Owned OK
* Non-Occupant Co-Borrower – OK
Available in the Following States:
Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Illinois, Kansas, Kentucky, Maine, Maryland, Massachusetts, Nevada, North Carolina, Oregon, Pennsylvania, Tennessee, Texas, Virginia, and Washington.