Yes — many Non-QM bank statement programs let self-employed homeowners pull equity while qualifying on deposits, with tighter LTV limits than a simple rate-and-term refinance.
What typically drives proceeds on Indiana bank statement cash-out files.
Income path
12–24 mo deposits
Same bank statement calc as purchase/refi
LTV vs rate-and-term
Usually tighter
Cash-out max LTV is often lower
Primary home
Most proceeds room
Typically allows higher cash-out LTV
Investment
More equity kept
Lower max LTV; DSCR may compete
Credit impact
Pricing + LTV
Higher scores unlock better tiers
Seasoning
Watch recent activity
New purchases or prior cash-outs may wait
Cash-out limits vary by investor and change without notice. Not a guarantee of approval or proceeds.
Equity is leverage — underwriters still care that the new payment fits your deposit income.
Ryan & Steve calc deposit income first, then overlay max cash-out LTV for your occupancy and credit — so you see realistic proceeds after payoff and closing costs.
We also compare a rate-and-term refinance if you mainly want payment relief. Taking cash out when you do not need it can raise rate and monthly cost.
If an investment property is the collateral, we may run DSCR cash-out side by side with bank statement so you pick the cleaner investor path.
Cash-out prep list
Related bank statement guides and Non-QM resources from Ryan & Steve.
Rate-and-term vs. cash-out refinance overview.
How deposits become qualifying income for DTI.
How score tiers affect pricing and LTV.
Full program hub with guidelines and Get Pre-Approved CTAs.
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Yes — many Non-QM bank statement programs allow cash-out refinances. You qualify on 12–24 months of deposits, and max LTV is usually tighter than a rate-and-term refinance. Guidelines vary by investor and occupancy.
It depends on appraised value, existing payoff, credit, occupancy, and investor max LTV. Primary homes typically allow more proceeds than investment properties. We estimate net cash after payoff and closing costs before you apply.
Common uses include business reinvestment, debt consolidation, home improvements, and reserves. Some investors restrict certain uses — we confirm overlays early so the file does not stall.
Often yes on LTV and seasoning. Recent purchases, prior cash-outs, or thin equity can limit proceeds. Strong deposits and credit help, but equity math still rules.
Ryan & Steve will size deposit income against max cash-out LTV — so you know realistic net proceeds before appraisal day.
Ryan Minick and Steve DeLon — Branch Managers & Senior Loan Officers at Luminate Bank. Based in Kokomo, Indiana. Lending nationwide since 2005.
Contact
Ryan Minick NMLS# 203249
Steve DeLon NMLS# 202876
Luminate Bank NMLS# 1281698
Kokomo's Mortgage Team. Lending Nationwide.
1221 Appletree Lane, Kokomo, IN 46902
Luminate Bank NMLS 1281698 Bank Headquarters 2523 S. Wayzata Blvd., Suite 100 Minneapolis, MN 55405 (952) 939-7200. This is not an offer to enter into an agreement. Information provided is outlining the minimum down payment requirements as allowed by specific loan program and product guidelines and any information, rates and programs are subject to change without prior notice and may not be available in all states. All loans are subject to credit and property approval. Luminate Bank is not affiliated with any government agency. All rights reserved.
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