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Bank statement loans, 1099 loans, and DSCR investment loans for self-employed electricians, plumbers, carpenters, and independent contractors. Consumer-direct — no broker, no markup.
Find Out What You Qualify For →You earn real income. Your Schedule C doesn’t show it. You run a legitimate business and write off what you’re supposed to — then the bank looks at your net income and says no.
The bank statement loan reads your actual deposits, not your Schedule C. Mbanc has closed this file thousands of times.
Best fit: Self-employed electricians, plumbers, and carpenters whose deductions reduce taxable income below conventional qualification.
You work for GCs. Your 1099s tell the real story. Your gross contractor income is real, documented, and consistent — but the conventional system applies deductions that don’t reflect your take-home.
The 1099 loan reads your gross 1099-NEC earnings. No expense ratio. No Schedule C. The full number.
Best fit: Independent contractors with 1–3 established GC relationships generating consistent 1099-NEC income over 2+ years.
You want rental property. A DSCR loan qualifies the investment property on its own rental income — not your personal income. No W-2, no tax return, no Schedule C required.
Self-employed trades workers building rental portfolios near data-center markets use this product. The property’s income is the qualification.
Best fit: Trades workers buying rental investment property. 20–25% down. 620+ credit.
| Product | Income Source | Min. Credit | Down Payment | Rate Premium | Best For |
|---|---|---|---|---|---|
| Bank Statement Loan | 12–24 months of deposits | 620+ | 10–20% primary | 0.25–0.875% above conventional | Self-employed with business/personal account income |
| 1099 Loan | Gross 1099-NEC earnings | 620+ | 10–20% primary | 0.25–0.875% above conventional | Independent contractors with GC relationships |
| DSCR Loan | Rental property income | 620+ | 20–25% investment | 0.5–1.5% above conforming | Real estate investors; no personal income used |
| Asset Utilization | Liquid assets converted to income | 680+ | 20%+ | Varies | High-asset borrowers with limited income docs |
All loans subject to credit and property approval. Rate ranges are representative as of Q1 2026 and subject to change.
A mortgage broker adds their margin to the lender’s rate. On a $400,000 loan, a 0.375% broker margin adds roughly $1,500/year. Mbanc is consumer-direct — the rate you qualify for is the rate you get.
Self-employed trades workers, independent contractors, and real estate investors are the borrowers we were built for. We’ve closed more than $2.2 billion in Non-QM loans — over 2,500 transactions — for borrowers exactly like you.
Our loan officers model your qualifying income on the first call — before any application. Bank statement vs. 1099. 12-month vs. 24-month. What opens at 700 vs. 680. You understand your options before any commitment.
A Mbanc loan officer will model your qualifying income on the first call — no application required. Takes 15 minutes.
Request My Free Qualification Call →Prefer to talk now? Call (844) 918-1886 — 8am–11pm ET, 7 days.
No. Pre-2008 no-doc loans required zero income verification. A Non-QM bank statement or 1099 loan fully verifies your income — it just uses your bank deposits or 1099 forms instead of your Schedule C. It is a regulated product class created after Dodd-Frank specifically for creditworthy borrowers who can’t use conventional documentation.
For well-qualified borrowers, bank statement and 1099 loans typically run 0.25% to 0.875% above comparable conventional rates. Working consumer-direct with Mbanc eliminates broker markup from that spread. DSCR investment loans typically run 0.5% to 1.5% above conforming investment rates.
No. A bank statement or 1099 loan is designed so you don’t change your tax strategy. Your deductions reduce your taxes; the bank statement loan reads your deposits. Both work simultaneously.
Most programs require 2 years of self-employment in the same field. Some allow 12 months with a strong profile — 700+ credit, 20%+ down, clean deposit history, and a CPA letter. Call us at any point in your timeline and we’ll tell you exactly where you stand.
Bank statement, 1099, and DSCR loans start at 620. The best pricing and full program access is at 700+. If you’re between 660 and 700, talk to us before you apply — 30–60 days of targeted credit improvement often moves you to the next tier.
Bank statement loan: 12–24 months of bank statements, a CPA letter (if your expense ratio is below 50%), and your business license. 1099 loan: your 1099-NEC forms for 12–24 months. No tax returns, W-2s, or Schedule C for either. DSCR loan: property information, credit authorization, and down-payment documentation. We provide a precise checklist on the first call.
Mbanc | Mortgage Bank of California Inc. dba MBANC | NMLS #38232 | 101 Plaza Real South, Suite 203, Boca Raton, FL 33432. This page is for informational purposes only and does not constitute a mortgage loan commitment, pre-qualification, or offer to lend. All loan programs are subject to credit and property approval. Not all applicants will qualify. Loan terms and rates are subject to change without notice. Rates shown are representative ranges as of Q1 2026. NMLS Consumer Access: www.nmlsconsumeraccess.org. Equal Housing Opportunity.