Yes — many Non-QM programs let self-employed homeowners refinance using 12–24 months of deposits for income, whether you want a rate-and-term reset or cash-out for business or personal goals.
Common refinance paths we structure for Indiana self-employed borrowers.
Rate-and-term
Lower payment / term
Limited cash back; typically higher LTV allowed
Cash-out
Access equity
Tighter LTV; see dedicated cash-out guide
Income docs
12–24 mo statements
Deposits replace tax-return AGI for qualifying
Primary home
Most flexible LTV
Often the easiest occupancy for Non-QM refi
Second / investment
More equity needed
Occupancy overlays tighten LTV and pricing
Seasoning
Case-by-case
Recent purchase or prior cash-out may have waits
Refinance guidelines vary by investor and change without notice. Not a guarantee of approval.
Self-employed homeowners often refinance into Non-QM when agency income math no longer fits.
Ryan & Steve average eligible deposits, apply the program factor, then overlay LTV grids for rate-and-term vs. cash-out on your occupancy type.
We also check payoff, closing costs, and whether conventional or FHA streamline options still beat Non-QM before you pay fees to switch.
If cash-out is the goal, we size max proceeds against credit and equity so you know the realistic wire — not a marketing number.
Refinance prep list
Related bank statement guides and Non-QM resources from Ryan & Steve.
Pull equity while refinancing on deposit income.
How deposits become qualifying income for DTI.
LTV and equity patterns that also apply to refis.
Full program hub with guidelines and Get Pre-Approved CTAs.
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Yes — many Non-QM bank statement programs offer rate-and-term and cash-out refinances. You still qualify on 12–24 months of deposits instead of tax-return AGI. Guidelines vary by investor and occupancy.
You replace your current mortgage primarily to change the rate or term — without taking large cash out beyond allowed closing costs and limited cash back. LTV limits are usually more flexible than cash-out.
Not for the income calc on a bank statement refinance. You still provide statements, ID, asset docs, and property paperwork. Some investors may request tax returns for other reasons — we confirm before you apply.
Depends on rate-and-term vs. cash-out, occupancy, and credit. Primary rate-and-term often allows higher LTVs than cash-out or investment refinances. We run the grid against your appraisal estimate.
Ryan & Steve will calc deposit income, check LTV grids, and show rate-and-term vs. cash-out options before you lock.
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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