Palo Alto’s Super-Jumbo tier is not a marketing exaggeration — it’s the actual center of gravity in neighborhoods like Old Palo Alto and Crescent Park, where median sale prices already sit at $5.6 million and $5.9 million, and single-family homes in Old Palo Alto have been reported averaging as high as $11.3 million. At that level, underwriting has to move past standard Jumbo assumptions and account for the reality of how Palo Alto’s wealthiest buyers are actually compensated: concentrated founder or executive equity from Stanford Research Park-based companies and Palo Alto’s broader startup ecosystem, asset positions built from liquidity events, and, in some cases, multi-generational family wealth tied to some of Silicon Valley’s earliest technology companies.
I structure Super-Jumbo financing for Palo Alto buyers who need a lender comfortable with asset depletion underwriting, concentrated equity positions, and construction-to-permanent structures for the
teardown-rebuild projects that dominate new construction in this nearly built-out city.
A Super-Jumbo mortgage generally describes financing well above Palo Alto’s standard Jumbo range — typically loan amounts exceeding $3 million, though the exact threshold varies by lender. These loans sit outside both conforming guidelines and conventional Jumbo underwriting boxes, and in Palo Alto they describe a large share of transactions in the city’s most established neighborhoods.
Built for Old Palo Alto and Crescent Park properties on larger lots with architectural or historic significance, including homes affected by Crescent Park’s flood-risk designations, which require underwriting that understands the insurance and appraisal implications rather than treating them as a disqualifying red flag.
For borrowers whose wealth sits in investment portfolios or realized liquidity from technology equity rather than W-2 income, common among Palo Alto buyers connected to the Stanford Research Park ecosystem or earlier-stage company exits.
Structured for borrowers with concentrated stock positions, restricted stock, or founder equity in companies based at the Stanford Research Park — where tenants have included Tesla’s global engineering headquarters, HP, VMware, and SAP — or in privately held startups elsewhere in Palo Alto.
For buyers pursuing a teardown-rebuild in Old Palo Alto, Crescent Park, or Professorville, this structure combines the construction loan and the final Super-Jumbo mortgage into a single closing, which matters given that Palo Alto teardown-rebuild budgets commonly run $4 million to $8 million or more once land, permitting, and construction are combined.
Old Palo Alto and Crescent Park remain the city’s most established Super-Jumbo neighborhoods, with median sale prices of $5.6 million and $5.9 million respectively and a steady stream of $8 million-plus luxury transactions — Old Palo Alto alone accounted for six such sales in a recent half-year period. Professorville, a designated historic district bordering Stanford, adds preservation considerations to its upper-tier pricing. Palo Alto Hills, a lower-density hillside neighborhood, has also posted median prices above $4.4 million, though with more year-to-year volatility than the flatland estate neighborhoods.
Direct experience structuring asset depletion and founder/executive compensation files for Palo Alto borrowers
Comfortable with construction-to-permanent financing for Palo Alto's teardown-rebuild projects
Familiarity with Crescent Park flood-zone underwriting considerations
Access to Super-Jumbo investor programs beyond standard bank Jumbo pricing
Single point of contact from application through closing
Ryan Lehrman, NMLS #235295
Credit profile: Typically 720+ credit score, with the strongest pricing at 760 and above
Down payment or equity: Often 20-30%, though asset-based programs can flex this depending on liquidity
Documentation: Full asset statements, tax returns, and — where applicable — vesting schedules, equity award agreements, cap table documentation, or business financials
Reserves: Many Super-Jumbo programs require 12+ months of reserves, sometimes more for construction-to-permanent structures given Palo Alto's 18-30 month typical build timelines
Confidential intake — We discuss your property or teardown project, asset structure, and financing goals.
Program matching — I identify which Super-Jumbo structure — asset depletion, executive compensation, or construction-to-permanent — fits your file.
Documentation assembly — We compile the deeper asset, income, or equity documentation these programs require.
Underwriting — I work directly with underwriting to keep your file moving through the additional review these loans typically involve.
Closing — We close on your timeline, with communication throughout the process.
There's no single fixed line, but most lenders treat loan amounts above roughly $3 million as Super-Jumbo, which covers a significant share of Old Palo Alto and Crescent Park transactions given their $5.6 million and $5.9 million median sale prices. I can tell you which tier your specific loan amount falls into.
Yes. Executive and founder compensation programs, along with asset depletion underwriting, are built for exactly this situation, and I structure these regularly for Palo Alto borrowers whose income doesn't show up as a traditional pay stub.
Yes, through a construction-to-permanent structure that combines the construction financing and the final Super-Jumbo mortgage into one closing — which matters given that all-in project budgets for Palo Alto teardown-rebuilds commonly reach $4 million to $8 million or more once land and construction are combined.
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/
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