Jumbo Second Mortgage Bank Statement Loan
Our Jumbo Second Mortgage Bank Statement Loan is designed for self-employed borrowers and homeowners seeking high-balance second mortgages without traditional income documentation. This program offers flexible qualification, competitive CLTV limits, and options across multiple occupancy and property types.
Higher loan amounts are available through bank statement underwriting, with CLTV limits based on total combined financing:
CLTV | Loan Amount | Credit Score Matrix
75% CLTV — up to $200,000 — 500 Credit Score
70% CLTV — up to $250,000 — 550 Credit Score
85% CLTV — up to $350,000 — 600 Credit Score
75% CLTV — up to $400,000 — 640 Credit Score
70% CLTV — up to $450,000 — 660 Credit Score
85% CLTV — up to $500,000 — 680 Credit Score
Eligible Property Types
Borrowers may qualify using a wide range of residential property types:
- Single-Family Residences
- Townhomes
- Condominiums
- Properties over 4 stories (10% CLTV reduction applies)
- Planned Unit Developments (PUDs)
Eligible Occupancies
This program supports multiple occupancy scenarios:
- Owner-Occupied
- Second Homes (CLTV reduced by 5%)
- Condominiums
- Properties over 4 stories (10% CLTV reduction applies)
- Planned Unit Developments (PUDs)
Cash Reserve Requirements
This program supports multiple occupancy scenarios:
- Owner-Occupied
- Second Homes (CLTV reduced by 5%)
- Condominiums
- Properties over 4 stories (10% CLTV reduction applies)
- Planned Unit Developments (PUDs)
Cash Reserve Requirements
Cash out can be used as liquid reserves
Credit Score & Tradeline Requirements
Borrowers must also meet credit score and tradeline history requirements:
- Minimum FICO score: 620
- 3 open or closed tradelines with at least 12 months of activity, or
- 2 tradelines with a 24-month history that includes activity within the past 12 months
- Authorized-user accounts do not meet tradeline requirements
- Alternative Credit Options (660 Minimum FICO)
Note: Excluded tradelines include accounts with no required payments, deferred loans, derogatory accounts (collections, charge-offs), accounts discharged through bankruptcy. These do not count toward tradeline requirements.
Note: Authorized-user accounts do not meet tradeline requirements.
Note: Borrowers without traditional credit depth, alternative credit is acceptable with a minimum 680 FICO.
Note: Eligible forms of alternative credit include: 12-month verified housing payment history.
Available in the Following States:
This Alabama, Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Illinois, Indiana, Maine, Nevada, New Jersey, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, and Washington.
Last Updated on 4 months ago by Broker Mortgages