Portland’s super-jumbo market is smaller than its jumbo market, but it is real, active, and distinctive. Dunthorpe — the unincorporated Multnomah County enclave tucked between Portland’s southern boundary and Lake Oswego’s northern edge — is the defining address. Zoning in Dunthorpe restricts density and preserves estate-scale parcels, and properties routinely trade from $2 million to well above $10 million. Buyers are not weekend investors. They are chief executives of Portland’s global brand headquarters, subspecialty physicians at OHSU’s Level I trauma center and Knight Cancer Institute, partners at major law firms, and high-net-worth individuals who made their money in Oregon’s Silicon Forest and are now deploying it into Pacific Northwest real estate.
Portland’s West Hills add additional super-jumbo inventory. The neighborhoods between SW Fairmount Boulevard and the Tualatin Mountains contain large-lot estates and architect-designed
contemporary homes where privacy, views of Mount Hood and the Willamette River valley, and proximity to Forest Park’s 80-mile trail network command a sustained premium. In the urban core, select Pearl District penthouse configurations and South Waterfront high-rises at the upper end of the inventory approach or enter super-jumbo territory. For buyers in this segment, the financing conversation starts with a different set of questions than a standard mortgage: How is income structured? How much is in liquid versus illiquid assets? Is this a purchase, a build, or a replacement property in a 1031 exchange strategy? At Loans by Lehrman, these are opening questions, not advanced ones.
A super-jumbo mortgage in Portland is a non-conforming loan that typically exceeds $2 million, though some lenders define the threshold at $1.5 million. These loans are entirely portfolio-held by the originating institution and are underwritten based on the complete financial profile of the borrower — not government-sponsored enterprise guidelines.
Super-jumbo borrowers in Portland typically have:
Complex income structures including executive bonuses, RSU income, deferred compensation, and carried interest
Significant liquid and illiquid assets including investment portfolios, real estate equity, and business ownership stakes
Multiple properties and existing mortgage obligations that affect debt-to-income calculations
Self-employment income that requires two-year averaging and add-back analysis
Specific property types that fall outside conventional appraisal frameworks
Designed for Portland buyers purchasing in upper-tier neighborhoods including Southwest Hills, Irvington, Laurelhurst, and Pearl District luxury condominiums. Flexible income documentation to accommodate Silicon Forest executives with RSU income, tech-sector bonus structures, and non-traditional compensation from Nike, Intel, Adidas, and Columbia Sportswear.
For Portland buyers who hold significant investment portfolios, retirement accounts, or business equity but whose reported income does not reflect their actual financial capacity, asset depletion programs allow calculated drawdowns from documented assets to be treated as qualifying income. This is particularly applicable to semi-retired Silicon Forest executives who have stepped back from W-2 employment while retaining substantial wealth.
For active C-suite and senior executive professionals at Nike, Daimler Trucks North America, Adidas, Columbia Sportswear, Precision Castparts, and Portland’s major healthcare systems, we structure income documentation around the full picture of base, bonus, RSU, SERP, and deferred compensation — not just the most easily verified components.
For buyers who have secured a site in Dunthorpe, the West Hills, or other Portland-area locations and are commissioning a custom build, our construction-to-permanent super-jumbo programs close once, fund in draws during construction, and convert to a permanent mortgage upon completion — eliminating the double-closing risk that exposes buyers to rate and qualification changes between construction and end loan.
Dunthorpe
Dunthorpe is Oregon's most exclusive residential address. Zoned to prevent density, served by the Riverdale School District, and adjacent to Lake Oswego's north end and the Willamette River, the
neighborhood's large-lot estates attract buyers who require privacy, prestige, and access to both Portland and the broader metro at the same time. Estate values range from $2 million to $10 million and above. Properties frequently feature private tennis courts, pools, guest quarters, and riverfront or view settings that have no
equivalent elsewhere in the Portland market.
West Hills — SW Fairmount and Tualatin Mountains Corridor
The wooded ridge neighborhoods of Portland's West Hills combine privacy, panoramic views, and a direct relationship with Forest Park — the largest urban forest in the United States at over 5,200 acres and 80 miles of trails. Contemporary homes designed around indoor-outdoor living, passive solar orientation, and view preservation characterize the top of this market. Super-jumbo buyers here are typically Portland-based executives and professionals who want the feel of a rural retreat within 15 minutes of downtown.
South Waterfront and Pearl District Penthouse Tier
Portland's South Waterfront district — developed around OHSU's research campus and connected to the main Marquam Hill campus by the aerial tram — hosts high-rise residential towers where penthouse units and full-floor configurations can reach into super-jumbo territory. The Pearl District's most premium condominium offerings similarly reach above $2 million for full-floor inventory with river views, private elevator access, and concierge services.
Direct access to portfolio lenders whose super-jumbo programs are designed for Pacific Northwest high-net-worth borrowers
Income structuring expertise for Nike, Intel, Daimler, OHSU, and Portland-based executive compensation profiles
Asset depletion analysis and documentation for semi-retired or investment-income-primary borrowers
Construction-to-permanent experience in Portland's custom home and estate build market
Complete discretion throughout the process — super-jumbo transactions require confidentiality, and we provide it
Relationships with Portland-area appraisers who specialize in estate and high-value residential properties
Ryan Lehrman, NMLS #235295
Credit: Typically 720 or above; 740+ for the most favorable program terms on large balances
Income: All income sources considered — W-2, self-employment, RSU, carried interest, deferred compensation, rental income; asset depletion available for qualifying portfolio borrowers
Reserves: Typically 12 to 24 months of PITI reserves in liquid or semi-liquid accounts
Property: Estate homes, custom builds, luxury condominiums, and unique property types considered on a case-by-case basis with appropriate appraisal methodology
Confidential financial profile review — We conduct a complete assessment of your income sources, asset position, existing obligations, and target property before identifying the appropriate program.
Documentation strategy — We develop a documentation plan that accurately presents your financial profile to portfolio lenders who underwrite super-jumbo loans manually.
Lender selection and term negotiation — We identify the right portfolio lending partner based on your specific loan characteristics and negotiate terms on your behalf.
Appraisal coordination — Super-jumbo appraisals on Dunthorpe estates and West Hills properties require specialists; we manage this process from selection through delivery.
Closing coordination — We work directly with your legal counsel, estate planning advisors, and title company to ensure a smooth, fully coordinated closing.
Super-jumbo is generally defined as a loan amount above $2 million, though some portfolio lenders use $1.5 million as the threshold. In Portland, properties in Dunthorpe, the upper West Hills, and the top tier of the Pearl District and South Waterfront commonly require financing at these levels. The 2026 conforming limit for Multnomah County is $832,750, so super-jumbo financing begins well above the standard jumbo threshold.
Yes, in most cases. For Portland-area executives at publicly traded companies like Nike or Adidas, deferred compensation that is fully vested and documented can be incorporated into qualifying income under most super-jumbo portfolio guidelines. Specific treatment depends on the deferral schedule, vesting status, and payout timeline. We analyze each borrower's compensation structure individually and develop the most advantageous documentation approach.
Asset depletion calculates qualifying income by dividing documented liquid or semi-liquid assets by a standard term — typically 60 to 84 months — and treating the result as monthly income. For a Portland buyer with a $5 million investment portfolio who is no longer W-2 employed, this approach can generate qualifying income sufficient to support a substantial super-jumbo loan without relying on reported earnings. The assets must be properly documented, accessible, and in the borrower's name or community property.
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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