Get Approved at The Lowest Rate
Traditional mortgage requirements in Davis, CA 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 Davis, CA 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 Davis, CA 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 Davis, CA, 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 Davis, CA without excessive upfront costs.
Unlike some conventional loans, our Bank Statement Home Loan in Davis, CA 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 Davis, CA 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 Davis, CA, 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 Davis, CA to ensure you achieve your homeownership dreams.
Ready to explore the benefits of a Bank Statement Home Loan in Davis, CA? 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. Quick Approval: With a 12-month bank statement loan, applicants can often get quicker approvals compared to traditional mortgage loans as it relies on bank statements rather than tax returns and pay stubs. 2. Flexibility in Income Verification: Self-employed individuals or those with non-traditional income sources find it easier to qualify for this type of loan since it considers bank statements as proof of income. 3. Higher Loan Amounts: Some lenders offer higher loan amounts with a 12-month bank statement loan, enabling borrowers to access more substantial funding for their property purchase or refinancing needs. Demographics in Davis, California Davis has a population of approximately 68,986, with a median age of 27.6 years. The city boasts a highly educated population, with over 60% of residents holding a bachelor's degree or higher. Housing Market in Davis The housing market in Davis is competitive, with a median home price of $655,000. The market has seen a steady increase in home values over the years, making it an attractive but challenging market for buyers. Main Attractions in Davis Davis is known for its vibrant downtown area, filled with local shops, restaurants, and cafes. The city is also home to the University of California, Davis, offering cultural and recreational activities for residents and visitors.
Benefits of a 12 Month Bank Statement Loan in Davis
