High balance. Low friction.

The flagship jumbo product. Standard documentation: 2 years of tax returns (personal + business if self-employed), 2 most recent paystubs, 2 years of W-2s, 2 months of asset statements, and a current credit pull. Underwriting follows agency-style logic — DTI, reserves, credit overlays — but with private investor pricing rather than Fannie/Freddie take-out.

Pricing is structured by loan amount, LTV, and credit. Files at 80% LTV, 740+ FICO, and 12 months of reserves get the tightest pricing — often within 0.125% of conforming. Above 80% LTV, pricing widens significantly and lender mortgage insurance (lender-paid PMI built into the rate) kicks in.

30-year fixed, 15-year fixed, and ARM structures (5/6, 7/6, 10/6) all available. The ARM note rate often runs 0.50%–1.0% below the fixed — meaningful savings on a $2M loan held less than 7 years.

The non-QM bank statement product, sized up to jumbo loan amounts. Income calculated from 12 or 24 months of personal or business bank deposits with an industry-standard expense factor applied. Same logic as the bank statement program in our non-QM pillar — applied to high-balance scenarios.

Most common use: self-employed borrowers in coastal markets buying or refinancing $1M–$3M+ properties whose tax returns understate true cash flow. The pricing premium over full-doc jumbo is typically 0.75%–1.5%, but the borrower keeps their tax-write-off strategy intact.

Lender divides eligible liquid assets (checking, savings, brokerage, retirement) by a term — typically 60, 84, or 120 months — and treats the result as monthly qualifying income. A $5M brokerage account divided by 84 months = $59,524/month qualifying income. No employment, tax returns, or W-2s required.

Used most often by retirees, semi-retired professionals, and high-net-worth borrowers between businesses or liquidity events. Retirement accounts may be discounted (typical haircut: 70% of pre-tax balance for borrowers under 59½).

A subset of full-doc jumbo where the file documents Ability-to-Repay under the strictest interpretation of the CFPB rule — every income source verified directly with the source, every reserve account verified for 60 days of seasoning, every deposit explained. In return, the borrower gets the lowest jumbo rates available — often within an eighth of conforming pricing.

Used most by W-2 borrowers at large public companies (where employer verification is straightforward), partners at established law/medical/accounting firms, and senior corporate executives with stock comp.

A jumbo structure where the borrower pays only interest for the first 5, 7, or 10 years. After the IO period ends, the loan amortizes on the remaining term — meaning the principal balance has not been reduced and the new fully-amortizing payment is materially higher than what a standard 30-year fixed would have been from day one.

Best fit: high-earning borrowers with variable bonus structures who want lower mandatory monthly outlay (and the option to make principal payments when bonuses arrive), or borrowers planning to sell or refinance before the IO period ends. Worst fit: borrowers who treat the lower IO payment as a permanent cash-flow improvement — the payment shock at IO-end can be brutal.