Frequently Asked Questions

Can a self-employed electrician do a cash-out refinance?

Yes. A bank statement cash-out refinance allows self-employed electricians to access home equity qualifying on bank deposit income — not Schedule C net income. The proceeds can be used for any purpose including business investment.

What is the maximum LTV for a cash-out refinance on a Non-QM bank statement loan?

Most bank statement cash-out programs allow up to 75–80% LTV. This means your new loan balance (existing mortgage plus cash-out amount) should not exceed 75–80% of your home’s appraised value.

How much lower are mortgage rates than business loan rates for cash-out purposes?

Business loans and lines of credit typically run 8–12% or higher. Non-QM bank statement cash-out mortgages typically run 0.25%–0.875% above conventional mortgage rates. Even at the higher end, the interest rate differential versus business lending is significant.

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