ENTERING ORBIT…
ENTERING ORBIT…
Non-QM jumbo and super-jumbo lending picks up where agency limits and bank overlays stop — big loan amounts with alternative documentation and common-sense underwriting.
MEMBERS GET ANSWERS FROM REAL INVESTOR GUIDELINES — WITH CITATIONS
The orbit briefing
Prime jumbo wants a W-2 surgeon with 800 credit. The real luxury market is messier: entrepreneurs, athletes, investors with layered income, recent-event borrowers buying eight-figure properties. Non-QM jumbo underwrites those files on their merits — full-doc, bank-statement, DSCR, or asset-depletion doc types at jumbo and super-jumbo sizes.
Expect more structure as the number grows: two appraisals over certain amounts, deeper reserve requirements, and per-tier LTV stepdowns. The trade is flexibility no depository will match.
What changes at jumbo size
Doc-type menu carries over — full doc, bank statement, DSCR, asset depletion — with jumbo-specific tiers.
LTV steps down with loan size: what's 80% at $1.5M may be 70% at $3M and 60% at $5M.
Reserves scale up: 6–12 months is common; super-jumbo can want 18–24.
Collateral scrutiny rises: two appraisals or a field review above investor-specific thresholds.
Typical guardrails
Educational ranges across the market — every investor grids this differently.
| LOAN AMOUNTS | $800K – $10M+ | Super-jumbo appetite varies widely by investor |
| MAX LTV | 60 – 80% | Tiered down by amount; best at ≤$2M |
| RESERVES | 6 – 24 months | The silent killer of marginal super-jumbo files |
| APPRAISALS | 1 – 2 | Second appraisal commonly above $2M–$3M |
| DOC TYPES | All major Non-QM docs | Bank statement and DSCR both reach jumbo sizes |
EXACT NUMBERS LIVE ON THE SCENARIO DESK — CITED TO THE GUIDELINE PAGE
Straight answers
Banks want the depository relationship and a pristine file. Non-QM jumbo trades a rate premium for doc flexibility and event tolerance — and often still wins on total cost of dealing.
Widely — IO is a staple at these sizes, including on DSCR-doc jumbo.
Seasoning matrices apply just like the rest of Non-QM — see the Recent Credit Events planet for the framework.