Frequently Asked Questions
What is the maximum loan amount I can get on a bank statement mortgage?
Most Non-QM bank statement programs go up to $3 million and some reach higher for well-qualified borrowers. The maximum loan amount is determined by your qualifying income, your DTI ratio (typically up to 50%), and the program limits of the specific product. There is no government-imposed limit as there is on conforming Fannie/Freddie loans.
How much does paying off a car loan before applying affect my mortgage qualification?
Paying off a $475/month car loan increases your maximum allowable monthly mortgage payment by $475. At current rates, $475/month in additional mortgage capacity translates to approximately $65,000â$75,000 in additional loan qualification â often significantly more than the car payoff amount itself if the loan balance is low.
Can a 12-month bank statement program really qualify me for more than a 24-month program?
Yes, if your most recent year of income is significantly higher than the prior year. A 12-month program uses only the most recent 12 months of deposits. A 24-month program averages both years. If you earned $90,000 two years ago and $163,000 last year, the 12-month program produces $163,000 in qualifying income vs. $126,500 for the 24-month average.
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.
Go Deeper
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