No market in Florida makes the case for Super-Jumbo financing more clearly than Naples. In April 2025, a single estate at 2200 Gordon Drive in Port Royal sold for $133 million — the most expensive single-home residential sale in the United States that year. Combined with an adjacent parcel assembled the same year, the Port Royal transaction totaled $225 million, placing Florida second in all-time residential sales history. That is an extreme data point, but it reflects a market reality that extends well beyond Port Royal: Naples is a Super-Jumbo market, not an exception to one.
Aqualane Shores — the intimate waterfront enclave between Old Naples and Port Royal — saw homes sell at an average of $9.77 million in 2025. The Estuary at Grey Oaks carries listings above $6 million. Gulf-front condominiums at Park Shore’s premier towers transact between $5 million and $15 million. Coquina Sands waterfront estates regularly exceed $5 million. In this market, the question is not whether a buyer will encounter the Super-Jumbo tier. The question is whether their lender has the program depth and underwriting expertise to handle it.
Ryan Lehrman, NMLS #235295, structures Super-Jumbo financing for Collier County’s upper-tier market — from estate homes in established waterfront neighborhoods to new construction builds on private Gulf-front parcels. This is not a program that gets dusted off once a year. It is a core part of the Naples lending practice.
Super-Jumbo mortgages are generally defined as loan amounts above $3 million, though some lenders set the threshold at $2.5 million. These loans are not purchased by Fannie Mae or Freddie Mac, are not insured by the FHA or VA, and are underwritten entirely by the originating lender according to portfolio guidelines. This means that program flexibility — in terms of income documentation, asset structures, loan-to-value ratios, and property types — can vary significantly between lenders.
In Naples, Super-Jumbo financing is the appropriate program for purchases in Port Royal, Aqualane Shores, Gulf-front Park Shore, Old Naples beachfront, and many properties in The Moorings, Coquina Sands, and estate-tier communities throughout Collier County. It is also the program for buyers constructing significant custom homes where the construction loan amount will exceed $3 million.
What distinguishes Super-Jumbo borrowers in Naples is not just loan size — it is the financial complexity that accompanies that loan size. These buyers frequently have income structures that include business ownership distributions, investment portfolio returns, deferred compensation from corporate careers, trust income, and assets that do not appear as W-2 wages. Super-Jumbo programs are built to accommodate that complexity.
Designed for direct purchases of waterfront estates in Port Royal, Aqualane Shores, Royal Harbor, The Moorings, and Gulf-front Park Shore. These programs accommodate single-property transactions at $3 million to $20 million and above, with loan-to-value structures appropriate for high-value collateral and underwriting frameworks that account for the limited comparable sale base in the most exclusive neighborhoods.
For buyers whose wealth is held in investment portfolios, retirement accounts, or closely held business equity rather than current earned income, asset depletion programs calculate qualifying income by dividing eligible assets by a loan term divisor — providing a pathway to qualification that reflects actual financial capacity. This is a critical program for Naples buyers who are transitioning to retirement, have recently sold a business, or maintain significant investment wealth alongside modest current income.
Designed for buyers with deferred compensation structures, equity compensation from private companies, partnership distributions, and income that is real and substantial but does not appear cleanly on a W-2. Bank statement programs — using 12 or 24 months of business or personal bank statements — provide an alternative documentation pathway for business owners and independent earners whose tax returns understate actual income due to legal deductions.
For buyers building estate-scale homes in Collier County — whether on Gulf-front parcels in Old Naples and Coquina Sands, private lots in Golden Gate Estates above $2 million in projected value, or luxury communities like Talis Park and Grey Oaks — Construction-to-Permanent Super-Jumbo combines the construction draw period with the permanent mortgage in a single closing. This eliminates rate risk during a build cycle that can extend 12 to 24 months for an estate-scale project.
Port Royal
Naples' most prestigious address, Port Royal occupies a private peninsula between Naples Bay and the Gulf of Mexico, with approximately 400 estate properties on large lots ranging from less than an acre to several acres of Gulf frontage. Membership in the Port Royal Club is a coveted amenity tied to specific properties. Current active listings range from $27 million to nearly $100 million. Financing here is almost exclusively Super-Jumbo.
Aqualane Shores
Bordered by Old Naples to the north and Port Royal to the south, Aqualane Shores offers wide-canal properties with direct boating access to Naples Bay and the Gulf. Approximately 365 of the neighborhood's 450 homes are waterfront, with prices ranging from $5 million to $21 million for current listings. The average sale in 2025 was $9.77 million. Many Aqualane Shores properties carry eligibility for Port Royal Club associate membership, a feature that must be confirmed prior to purchase.
Old Naples Beachfront
The beachfront corridor along Gulf Shore Boulevard South and the surrounding blocks of Old Naples represents some of the most walkable, historically significant coastal real estate in Southwest Florida. Active listings on the Gulf range from $36 million to nearly $100 million. The Old Naples walkability to Third Street South and Fifth Avenue South dining, galleries, and retail adds a lifestyle dimension that Gulf-front properties in more car-dependent areas do not offer.
Coquina Sands
Tucked between The Moorings and Old Naples, Coquina Sands offers Gulf-proximate single-family homes with average listing prices around $1.8 million, with direct waterfront properties substantially higher. Teardown-and-rebuild activity makes this an active construction lending market in addition to a resale Super-Jumbo market.
Grey Oaks — Estuary Section
Collier County's premier inland golf and estate community, Grey Oaks features three championship golf courses and estate-scale homes. The Estuary section carries listings above $6 million, making it one of the few Collier County inland communities where Super-Jumbo financing is routine.
Super-Jumbo programs to $10 million and beyond for Naples waterfront and estate properties
Asset depletion, portfolio income, and bank statement documentation for complex financial profiles
Construction-to-Permanent Super-Jumbo for estate-scale custom builds in Collier County
Deep familiarity with Naples' waterfront neighborhoods, canal access characteristics, and luxury appraisal dynamics
Discrete, confidential service for high-net-worth clients — no unnecessary disclosures or data sharing
Ryan Lehrman, NMLS #235295
Credit Profile: Super-Jumbo programs typically require a minimum credit score of 720 to 740, with the most competitive programs available at 760 and above. Isolated credit events from many years prior are assessed contextually.
Income Documentation: Full documentation for W-2 income. For business owners, two years of complete personal and business tax returns. Bank statement programs available for self-employed borrowers. Asset depletion and portfolio income programs for investment-wealth buyers.
Loan-to-Value: Most Super-Jumbo programs allow up to 65% to 75% LTV depending on loan amount and property type. Loans above $5 million typically require 25% to 35% down payment. Properties above $10 million may have more specific equity requirements.
Reserves: Super-Jumbo programs typically require 12 to 24 months of PITI in liquid or near-liquid assets. Portfolio assets, retirement accounts, and investment holdings are typically counted at a discount to market value for reserve purposes.
Confidential Consultation — A private consultation to review your financial profile, intended property, and loan amount, and to identify the most appropriate Super-Jumbo program before any property offer is made.
Documentation Strategy — Super-Jumbo documentation requirements are specific and program-dependent. Ryan identifies exactly what is needed based on your income structure — whether that is tax returns, bank statements, or asset schedules — before you begin assembling materials.
Underwriting and Property Review — Super-Jumbo underwriting at this loan level involves experienced underwriters familiar with luxury collateral. Appraisals for properties in Port Royal, Aqualane Shores, and Old Naples require appraisers with direct Collier County luxury market experience.
Conditions and Communication — Ryan maintains direct communication throughout the underwriting process, addressing conditions promptly and keeping all parties — buyer, listing agent, attorney, and closing agent — aligned on timeline.
Closing — Super-Jumbo closings in Naples frequently involve attorneys, title companies with luxury transaction experience, and multiple parties coordinating across time zones for out-of-state buyers. Ryan coordinates with the full team to ensure a clean, on-time close.
Super-Jumbo programs generally apply to loan amounts above $3 million, though some lender programs begin at $2.5 million. In Naples, the practical Super-Jumbo tier begins where standard Jumbo programs reach their limits — typically around $3 million to $4 million — and extends through transactions involving Port Royal estates, Old Naples beachfront properties, and estate-scale construction loans.
Yes. Asset depletion programs and portfolio income programs exist specifically for buyers whose financial strength is held in investment assets and trust structures rather than earned income. Trust income with reliable distribution history is documentable, and asset depletion programs can convert investment portfolio balances into qualifying monthly income. These are standard program pathways for Naples buyers in this financial profile.
Luxury appraisals at the $5 million to $30 million level in Naples require appraisers with direct experience in the specific neighborhood's comparable sale base. In neighborhoods like Port Royal and Aqualane Shores, comparable sales are limited in number and highly specific — canal width, Gulf frontage, dock configuration, lot size, and Port Royal Club eligibility all affect value. Lenders working in this market use appraisers familiar with these variables rather than generalist residential appraisers.
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.
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