Frequently Asked Questions

I’m a self-employed electrician in Seattle or Quincy working data center projects — can I get a mortgage?

Yes. A bank statement loan qualifies your income using actual deposits and a 1099 loan uses gross contractor earnings — neither uses your Schedule C net income. Pacific Northwest data center trades workers with 2+ years of self-employment regularly qualify through Non-QM programs.

Why is Quincy, Washington a major data center location, and what does that mean for my income as a trades worker?

Quincy, WA benefits from inexpensive hydroelectric power from Columbia River dams and abundant land — making it one of the most cost-efficient large-scale data center locations in North America. Microsoft, Apple, and Vantage Data Centers all operate major campuses there, creating sustained specialty trades employment for licensed electricians and plumbers.

Does Washington State’s lack of income tax improve my take-home income and mortgage qualification?

Washington State has no individual income tax, which increases take-home income relative to comparable earnings in income-taxed states. However, Washington’s Business and Occupation tax on gross revenues should be factored into self-employed income planning — a CPA familiar with Washington B&O tax structure is important for accurate financial analysis.

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