Frequently Asked Questions

Can a carpenter working on data center projects get a mortgage despite write-offs?

Yes. A bank statement loan uses actual bank deposits — not Schedule C net income — to calculate qualifying income. A 1099 loan uses gross contractor earnings. Both programs are available for self-employed carpenters regardless of tax write-offs.

Why are carpenters earning more on AI data center projects?

AI data center server halls require precision commercial carpentry — fire-rated assemblies, raised floor systems, detailed interior build-out — that commands higher rates than standard residential or commercial work. In major data center markets, experienced commercial carpenters on these projects earn meaningfully above standard market rates.

What is the difference between a bank statement loan and a 1099 loan for carpenters?

A bank statement loan calculates qualifying income from bank deposits with an expense ratio applied. A 1099 loan uses gross 1099 contractor earnings directly. For carpenters with clear GC relationships and 1099 documentation, the 1099 loan often produces higher qualifying income.

Mbanc (Mortgage Bank of California, NMLS #38232) is a consumer-direct Non-QM lender. This content is for informational purposes only and does not constitute a commitment to lend. All loans subject to credit approval.

Mbanc NMLS #38232 | Equal Housing Opportunity Lender

About the Author

Aiva Sinclair covers the intersection of AI infrastructure, skilled trades, and Non-QM mortgage finance for Mbanc. Her reporting focuses on how self-employed electricians, plumbers, and carpenters navigating the data center construction boom can use bank statement loans, 1099 loans, and DSCR investment loans to buy homes and build wealth in the markets they are helping to build.

Contact: sales@mbanc.com | mbanc.com/non-qm-trades