Get Approved at The Lowest Rate
Traditional mortgage requirements in Covington, 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 Covington, 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 Covington, 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 Covington, 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 Covington, TX without excessive upfront costs.
Unlike some conventional loans, our Bank Statement Home Loan in Covington, 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 Covington, 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 Covington, 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 Covington, TX to ensure you achieve your homeownership dreams.
Ready to explore the benefits of a Bank Statement Home Loan in Covington, 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.
One of the key benefits of a 12-month bank statement loan in Covington, Texas, is the flexibility it offers for self-employed individuals. With this type of loan, applicants can use their bank statements as proof of income, making it easier to qualify for a mortgage. Another advantage is the quick approval process. Since the focus is on bank statements rather than traditional income verification, the approval process is often faster, allowing borrowers to secure financing more efficiently. Furthermore, a bank statement loan can offer higher loan amounts compared to conventional loans, making it a great option for those looking to purchase higher-value properties in Covington, Texas. The charming town of Covington, Texas, has a population of approximately 300 residents. The area is known for its tight-knit community feel and friendly atmosphere, making it an ideal place to call home. In Covington, the housing market is thriving, with a range of property options available to buyers. From historic homes to modern constructions, there is something for everyone in this vibrant real estate market. Some main attractions in Covington include the Covington Historical Museum, showcasing the town's rich history, and the picturesque Covington City Park, perfect for outdoor activities and family gatherings.
Benefits of a 12-Month Bank Statement Loan in Covington, Texas
