Frequently Asked Questions
How long do I need to be self-employed before I can get a Non-QM mortgage as an electrician?
Most Non-QM programs require 24 months of documented self-employment. Some allow 12-month programs with compensating factors such as strong reserves or a high credit score. A Non-QM loan officer can assess your specific timeline and tell you exactly when you’ll be ready.
What documents do I need for a bank statement loan as an electrician?
Typically: 12 or 24 months of business bank statements, a business license or CPA letter confirming self-employment, government-issued ID, and asset statements showing down payment and reserves.
Can I get a Non-QM mortgage if I recently went from W-2 to self-employed?
It depends on timing. Most programs require 24 months of self-employment history. If you recently made the transition, work with a Non-QM loan officer now to understand what your profile will look like at the 24-month milestone and how to prepare your documentation.
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
