Bank Statement Jumbo
Jumbo financing for self-employed Arizona borrowers whose tax returns understate real cash flow. 12 or 24 months of bank deposits replace the tax return as the income document, up to $3M loan.
Program figures verified July 2026 — details change; confirm your scenario with us.
Quick answer
- Income source: 12 or 24 months of personal or business bank deposits.
- Tax returns? Not used.
- Loan amount: Typically up to $3M.
- Max LTV: 85% on most programs (some to 90% under $1.5M with strong FICO).
- Min FICO: 660; 700+ for higher LTV.
- Reserves: 6–9 months Principal, Interest, Taxes, Insurance, and Association fees or dues (PITIA) depending on loan amount.
- Property: Primary, second home, 1–2 unit.
How underwriting reads your deposits
Two Options: Your Loan Officer will select the best option that tells the cleaner story:
Personal bank statements (12 or 24 months)
- Underwriter sums qualifying deposits across the months.
- Excludes obvious non-business inflows: Tax refunds, interfund transfers, gifts, asset sales.
- Average monthly qualifying income = total ÷ months.
- A lower expense factor than business accounts applies, but we still never count 100% of deposits.
Business bank statements (12 or 24 months)
- Underwriter applies an expense factor (default ~50%) to back out cost-of-business.
- Lower expense factors (20–35%) accepted with a CPA letter documenting actual overhead.
- Lower expense factor → higher qualifying income → larger loan size.
When to use which
- Personal statements: If owner draws move to a personal account regularly.
- Business statements: For higher-margin businesses (consulting, professional services, online) with a CPA letter, usually produces highest qualifying income.
Worked example — $2M Scottsdale purchase
Self-employed digital agency owner. Tax return shows ~$140K net after deductions. Real cash flow into business checking averages ~$70K/mo over the last 24 months. CPA confirms 22% true expense ratio.
| Method | Monthly qualifying income | Result |
|---|---|---|
| Full Doc (Schedule C) | $11,667 | DTI too high for $2M loan |
| Business statements @ 50% factor | $35,000 | Easily qualifies for $2M |
| Business statements @ 25% factor (CPA) | $52,500 | Higher cushion, better tier |
Illustrative only.
FAQ
How is this different from stated income?
It's not. Stated income loans were eliminated post-2008. Bank Statement Jumbo fully documents real deposits over 12 or 24 months, just without using the tax return.
Can I do this with $3M loan amount?
Yes, on most programs, usually with 700+ FICO, 80%-or-lower LTV, and 9–12 months reserves.
Personal or business statements, what's the right pick?
Depends on which account holds your real cash flow. We model both before picking.
Do I need a CPA?
Not strictly. A business license + ownership documentation is the minimum. A CPA letter helps lower the business-statement expense factor, meaningful when it pushes you into a better LTV tier.
Are second homes and Paradise Valley properties eligible?
Yes, bank statement Jumbo is widely available for primary and second homes statewide in Arizona.
Does a bank statement loan count 100% of your deposits as income?
No. Business bank deposits are reduced by an expense factor before they count as income, commonly 50%, and as low as 20 to 35% with a CPA letter documenting lower overhead. Only personal-account deposits approach a higher share of qualifying income; no 2026 bank-statement jumbo program uses 100% of gross business deposits.
Curious if Bank Statement Jumbo is the right fit?
Bring your numbers, we'll model the right program in 20 minutes.