Aurora’s Super-Jumbo market is smaller in volume than Denver’s or Cherry Hills Village’s — and saying so accurately is more useful than inflating it. But the city’s estate tier is real, specific, and served by a buyer profile that is genuinely distinctive. At the intersection of Saddle Rock’s golf course estates, Southshore’s premium Aurora Reservoir waterfront positions, and the executive homes at the upper end of Tallyn’s Reach, transactions above $3 million do occur — and they require the same portfolio lending expertise, relationship-driven underwriting, and lender-matching precision that any Super-Jumbo transaction demands regardless of city.
The buyers who transact at this level in Aurora are largely drawn from two communities. The first is the Anschutz Medical Campus leadership tier: UCHealth University of Colorado Hospital department chairs, division chiefs, and research institute directors whose compensation structures include base salary, clinical incentive pay, research grants, academic appointments, and in some cases private practice equity — income profiles that require portfolio lenders with academic medical center experience to underwrite correctly. Children’s Hospital Colorado’s nationally ranked subspecialty leadership — ranked #1 in Colorado and top-10 nationally in Cardiology, Diabetes/Endocrinology, and Pulmonology — generates a comparable profile. The second is the senior defense and aerospace community: high-ranking Buckley Space Force Base officers, senior cleared executives at Raytheon and related defense primes, and intelligence community leaders affiliated with the National Reconnaissance Office’s Aerospace Data Facility-Colorado — all individuals whose income, asset, and clearance profiles require lender experience specific to this community.
Both buyer types share a characteristic that matters for Super-Jumbo qualifying: their income is often more complex than it appears on a single W-2. UCHealth physicians carry clinical incentive pay and research grant-funded salary alongside base compensation. Defense executives may have security clearance premiums, deferred compensation, and performance bonuses. Portfolio Super-Jumbo lenders who understand academic medical center and defense industry income are the appropriate counterparties for these transactions. Ryan Lehrman, NMLS #235295, has the relationships and income documentation expertise to serve this market.
Super-Jumbo mortgage loans are generally defined as loans above $3 million, though some portfolio lenders set the threshold at $2.5 million. These transactions fall outside standard jumbo program guidelines and are structured through portfolio lenders, private banking relationships, and specialized non-QM programs that underwrite each file individually. In Aurora, Super-Jumbo lending applies to the most significant Saddle Rock golf course estate properties, premium Southshore reservoir-front positions, and exceptional upper-tier Tallyn’s Reach homes where total acquisition prices exceed $2.5–$3 million.
Super-Jumbo programs in Aurora also serve buyers whose financial profiles concentrate wealth in investment portfolios, retirement accounts, or deferred compensation plans rather than current W-2 earnings — making asset depletion programs relevant for the campus’s senior researchers and administrators who have built significant TIAA-CREF or investment account balances over decades of academic careers.
Saddle Rock’s most significant properties — those with direct golf course frontage, large lots with mountain views, and estate-scale square footage — qualify for portfolio programs at 70–75% LTV on primary residences at loan amounts above $2.5–$3 million. Portfolio lenders at this tier evaluate the full financial picture: net worth, investment account depth, income stability, and the specific characteristics of the property being acquired. Aurora’s CCSD positioning and the Anschutz campus’s continued growth create a long-term collateral argument that sophisticated portfolio lenders who know the Denver metro market evaluate favorably.
Southshore’s premium Aurora Reservoir waterfront positions — those with direct water access, dock potential, and unobstructed reservoir views — represent Aurora’s most distinctive Super-Jumbo collateral. These properties are limited in number by the finite amount of reservoir-adjacent land within the master-planned community, and their pricing reflects that scarcity. Portfolio lenders with Denver metro master-planned community experience understand the value differential between reservoir-front and non-reservoir properties within Southshore and can underwrite accordingly. Loan amounts from $2.5 million to $5 million and above are available through the right portfolio relationships.
UCHealth University of Colorado Hospital and Children’s Hospital Colorado generate a population of senior buyers whose income structures require expert lender matching: department chairs with base salary plus clinical incentive distributions plus grant-funded research positions; division chiefs with private practice equity and hospital employed income combining on a complex tax return; research institute directors with salary, consulting income, and grant awards that appear differently across W-2 and 1099 documents. Portfolio Super-Jumbo lenders with academic medical center experience evaluate these structures holistically rather than applying formulaic income ratios. Ryan assembles the documentation — employment verification from institution counsel, compensation plan summaries, grant award letters, practice equity statements — to present the borrower’s true income picture to the lender best positioned to act on it.
Long-tenured CU Anschutz faculty, senior UCHealth administrators, and Buckley Space Force Base career officers who have accumulated significant TIAA-CREF, Thrift Savings Plan (TSP), or investment account balances over 20–35-year careers may access Super-Jumbo financing through asset depletion programs. Eligible liquid and near-liquid assets are converted to a calculated qualifying income, typically dividing the total by 60 to 84 months. A career senior faculty member with $6 million in combined TIAA-CREF and investment accounts might generate a monthly qualifying income of $71,000–$100,000 — sufficient to support a significant Super-Jumbo purchase in Saddle Rock or Southshore without relying solely on current salary. Ryan evaluates each borrower’s specific account types, vesting status, and balance levels to determine whether asset depletion qualifying is available and what loan amount it supports.
Saddle Rock — Aurora's Premier Golf Course Estate Address
Saddle Rock's golf course-front estate properties represent Aurora's most recognizable Super-Jumbo collateral. The neighborhood's median of $912,100 is Aurora's highest, and the neighborhood's premium positions — those directly on the 18-hole Saddle Rock Golf Course, with mountain views and estate-scale lots — trade at prices that can reach $3 million and above for the most significant properties. The Cherry Creek School District placement, proximity to the Denver Tech Center and Arapahoe Road employment corridor, and the neighborhood's established prestige combine to create a collateral profile that portfolio lenders active in the southeast Denver metro evaluate with confidence. Off-market trades are not uncommon in Saddle Rock's upper tier; buyers who have their financing relationship established before a property surfaces are significantly better positioned.
Southshore Reservoir-Front Positions
Southshore's premium waterfront positions are among the most coveted addresses in Aurora — limited in number, directly adjacent to the 1,400-acre Aurora Reservoir, and offering a residential lifestyle (sailing, kayaking, paddleboarding, trail running on the reservoir circuit) that has no equivalent in the metro's eastern suburbs. Post-2016 construction means all Southshore homes are modern, energy-efficient, and under builder warranty for most structural components. The community's Lakehouse recreation center, included within the HOA structure, adds clubhouse access, fitness facilities, and additional gathering spaces. For the most premium reservoir-front positions — those with direct dock access, unobstructed water views, and south or west exposure — pricing pushes above $2 million and in exceptional cases reaches $3 million, placing the best Southshore properties at the threshold of Super-Jumbo financing.
Portfolio lender and private bank access — relationships with institutions that underwrite Super-Jumbo transactions as individual files based on full financial picture
Academic medical center income expertise — UCHealth and Children's Hospital clinical incentive, research grant, and practice equity income structures documented and presented for portfolio lenders experienced with academic medical compensation
TIAA-CREF and TSP asset depletion — correct calculation and documentation of TIAA-CREF and Thrift Savings Plan balances for qualifying income purposes
Defense and intelligence community experience — Buckley SFB senior officers, NRO Aerospace Data Facility personnel, and Raytheon executive compensation structures documented and qualified correctly
Southshore reservoir collateral familiarity — understands the Aurora Reservoir premium and can advocate for it in portfolio lender presentations
Absolute confidentiality — Super-Jumbo transactions involving senior medical, defense, and intelligence community professionals are handled with complete discretion
Ryan Lehrman, NMLS #235295
Loan amount: Generally $3 million and above; some portfolio programs begin at $2.5 million
Credit profile: Typically 720+ minimum; 740–760+ preferred at higher loan amounts
Income documentation: W-2 including academic medical incentive pay, research grants, defense contractor compensation, deferred comp, TIAA-CREF and TSP asset depletion, and complex hybrid profiles; documentation requirements vary significantly by lender
Down payment and reserves: Typically 20–30% down at $3M+; 24+ months PITI reserves standard; strong TIAA-CREF or TSP positions can strengthen qualifying in some portfolio programs
Early confidential consultation — Super-Jumbo transactions benefit from pre-contract engagement; Ryan reviews the full income and asset profile — UCHealth compensation structure, CU Anschutz appointment details, TSP or TIAA-CREF balances, defense contractor compensation plan — to identify the correct portfolio lender before you are in contract on a Saddle Rock estate or Southshore waterfront home
Documentation assembly — W-2s, tax returns, UCHealth or Children's Hospital compensation plan summaries, grant award letters, TSP and investment account statements, defense executive compensation documentation, and any other relevant income and asset materials organized into a cohesive package
Portfolio lender introduction — Super-Jumbo lenders at this tier frequently require relationship-level introductory conversations before committing to a pre-approval; Ryan facilitates this and ensures you are presented to the lender most aligned with your specific profile
Underwriting — more intensive and iterative than standard jumbo; additional documentation requests are routine; Ryan manages all lender communication from submission through final conditions clearance
Closing — final conditions cleared; Aurora Super-Jumbo transactions sometimes involve trust vesting or entity structures that Ryan coordinates with appropriate title and legal professionals
The complexity is the combination, and that is exactly what portfolio Super-Jumbo lenders experienced with academic medical centers know how to evaluate. Your base salary is straightforward on your W-2. Your clinical incentive distributions — typically paid quarterly or annually as a percentage of clinical collections above a threshold — will appear on your W-2 as well, but require documentation from UCHealth's physician compensation plan showing that the incentive structure is contractual and recurring rather than discretionary. Your research grant income may come through a separate payroll classification or as a stipend payment that requires a grant award letter and budget justification to source correctly. The combination of all three, assembled correctly and matched to a portfolio lender who has underwritten academic medical executive income before, produces a qualifying figure that reflects your real financial capacity. Ryan's job is to build that package and get it to the right lender — not a lender who will approximate it or exclude the components they don't understand.
Yes — through an asset depletion program. Thrift Savings Plan accounts are generally treated as eligible near-liquid assets for depletion qualifying, subject to the lender's guidelines on contribution limits, withdrawal restrictions, and vesting. The typical formula divides the eligible TSP balance by 60 to 84 months to generate a monthly qualifying income. A senior Space Force officer with $4 million in combined TSP and brokerage accounts might generate a monthly income calculation of $47,000 to $67,000 — potentially sufficient to support a significant Super-Jumbo purchase in Saddle Rock without relying solely on active-duty base pay and allowances. Military retirement income (for officers approaching or past 20-year marks) further strengthens the qualifying picture, as retired pay is guaranteed, non-taxable, and eligible for the 25% gross-up that non-taxable income receives from most lenders.
The Aurora Reservoir premium in Southshore appraisals reflects the scarcity of direct water-access residential positions in Aurora — there are a finite number of reservoir-front lots in the master-planned community, and their value derives from both the access and the view corridor. Portfolio Super-Jumbo lenders who have underwritten Southshore reservoir-front properties understand this premium because Denver metro appraisers with master-planned reservoir community experience can support it with defensible comparables. The challenge arises when a Super-Jumbo lender unfamiliar with the Aurora market uses an appraiser who compares reservoir-front Southshore to non-reservoir Southshore or to comparable-sized homes elsewhere in Aurora — resulting in a conservative valuation that doesn't reflect what the reservoir-front position is actually worth. Ryan manages this by selecting portfolio lenders whose appraisal panels include Aurora master-planned community specialists, and by preparing the file with a full market analysis supporting the reservoir-front premium before the appraisal is ordered.
Super-Jumbo transactions benefit from early engagement. Let’s have a confidential conversation about your property and financial profile.
Originally from Harrisburg, Pennsylvania, I moved to Phoenix to attend Arizona State University and have proudly called Phoenix home ever since.
My journey into the mortgage industry began with a friend’s encouragement, who saw how my energy and people-first mindset could make a difference. He was right — I found my calling.
I’ve always embraced what makes me different. With ADHD as my secret weapon, I thrive in fast-paced, detail-heavy environments. I’ve built my career on clear communication, creative problem-solving, and putting clients first, always.
Outside of work, my greatest motivation is my wife and three amazing kids. I’d be honored to help guide you through your lending journey with care, clarity, and commitment.
Who we are
Our website address is: https://loansbylehrman.com/
Embedded content from other websites
Articles on this site may include embedded content (e.g. videos, images, articles, etc.). Embedded content from other websites behaves in the exact same way as if the visitor has visited the other website.
These websites may collect data about you, use cookies, embed additional third-party tracking, and monitor your interaction with that embedded content, including tracking your interaction with the embedded content if you have an account and are logged in to that website.
SMS Privacy
I respect your privacy. I will not share or use your mobile number for any other purpose. I will only use information you provide to transmit text messages. Nonetheless, I reserve the right at all times to disclose any information as necessary to satisfy any law, regulation or governmental request, to avoid liability, or to protect my rights or property. When you complete forms online or otherwise provide me information in connection with the Service, you agree to provide accurate, complete and true information. You agree not to use a false or misleading name or a name that you are not authorized to use. If I, in my sole discretion, believe that any such information is untrue, inaccurate or incomplete, I may refuse you access to the Service and pursue any appropriate legal remedies.
Analytics tracking
Our website uses analytics tools such as Google Analytics to better understand how visitors interact with our site. These tools collect data through cookies and similar technologies, including information about on-site activity and, in some cases, IP addresses. We use this data to improve user experience, monitor performance, and track conversions. Visitors who prefer not to be tracked can opt out by using the Google Analytics opt-out browser add-on or other available opt-out methods.
