Get Approved at The Lowest Rate
Traditional mortgage requirements in Commerce, TX can often be challenging, especially for self-employed individuals or those with non-traditional income sources. A Bank Statement Home Loan offers a flexible and convenient alternative, making homeownership more accessible for those who might not fit the standard loan criteria.
A Bank Statement Home Loan is designed for individuals who can demonstrate their ability to repay the loan through their bank statements rather than traditional income documentation such as W-2s or tax returns. This loan program in Commerce, TX is ideal for self-employed borrowers, freelancers, contractors, and small business owners who have a steady income but may not have the conventional paperwork to prove it.
Use your bank statements (usually 12 to 24 months) to verify income in Commerce, TX instead of traditional documents like tax returns. This flexibility accommodates various income types, including irregular or seasonal earnings.
Secure financing for a wide range of loan amounts in Commerce, TX, making it easier to purchase your dream home or refinance your existing mortgage.
Enjoy the benefits of competitive down payment options, ensuring you can invest in your home in Commerce, TX without excessive upfront costs.
Unlike some conventional loans, our Bank Statement Home Loan in Commerce, TX may not require PMI, potentially reducing your monthly payments.
Benefit from customized loan terms that suit your financial situation and long-term homeownership goals.
To qualify for a Bank Statement Home Loan, you need to meet the following criteria:
Ideal for individuals with self-employment income or other non-traditional income sources.
Provide 12 to 24 months of personal or business bank statements in Commerce, TX to verify income.
A good credit score is typically required, with specific minimums varying based on the loan amount and other factors.
Ability to make a competitive down payment in Commerce, TX, typically ranging from 10% to 20% of the purchase price.
Horizon Lending Services is dedicated to providing tailored mortgage solutions that meet your unique needs. Our experienced team understands the challenges of securing a loan with non-traditional income and is committed to helping you navigate the process with ease. We offer personalized service, competitive rates, and a seamless application process in Commerce, TX to ensure you achieve your homeownership dreams.
Ready to explore the benefits of a Bank Statement Home Loan in Commerce, TX? Contact Horizon Lending Services today to learn more about how this flexible loan option can help you purchase or refinance your home. Our knowledgeable professionals are here to guide you through every step of the process, ensuring a smooth and successful experience.
Discover how Horizon Lending Services can make homeownership a reality with our Bank Statement Home Loan program.
1. Flexibility: A 12-month bank statement loan in Commerce, Texas offers flexibility for self-employed individuals or those with non-traditional income sources. It allows applicants to qualify based on their bank statements rather than tax returns. 2. Quick Approval: Compared to traditional loans that require extensive documentation, a 12-month bank statement loan can have a quicker approval process, making it ideal for those looking to secure financing promptly. 3. Competitive Rates: Despite catering to unconventional income sources, these loans often come with competitive interest rates, making them a viable option for individuals seeking financial stability. Demographics Commerce, Texas has a diverse population with a mix of students, families, and professionals. The town has a strong sense of community and offers a range of resources for residents of all ages. Housing Market The housing market in Commerce, Texas is experiencing steady growth, with a variety of housing options available to cater to different budgets and preferences. The town offers a mix of rental properties and homes for sale, making it an attractive location for both renters and buyers. Main Attractions Commerce, Texas is home to Texas A&M University-Commerce, a vibrant campus that adds to the town's cultural and intellectual diversity. Additionally, the town boasts scenic parks, local eateries, and community events that enhance the quality of life for residents.
Benefits of a 12 Month Bank Statement Loan in Commerce, Texas
