Get Approved at The Lowest Rate
Traditional mortgage requirements in Follett, 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 Follett, 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 Follett, 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 Follett, 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 Follett, TX without excessive upfront costs.
Unlike some conventional loans, our Bank Statement Home Loan in Follett, 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 Follett, 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 Follett, 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 Follett, TX to ensure you achieve your homeownership dreams.
Ready to explore the benefits of a Bank Statement Home Loan in Follett, 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 Follett, Texas offers self-employed individuals and small business owners the flexibility to use their bank statements as proof of income, rather than traditional income documents. 2. Quick Approval Process: These loans typically have a quicker approval process compared to traditional mortgages, making them ideal for those who need financing promptly. 3. Higher Approval Rates: Since bank statement loans focus on bank statements rather than tax returns, individuals with non-traditional income sources or fluctuating income levels have a higher chance of approval. Demographics Follett, Texas, has a population of approximately 450 residents with a median age of 40 years. The town primarily consists of families and retirees, creating a close-knit community atmosphere. Housing Market The housing market in Follett offers a range of options from historic homes to modern constructions. The median home value is $85,000, making it an affordable option for first-time homebuyers or those looking to downsize. Main Attractions Some of the main attractions in Follett include the Pioneer West Museum, showcasing the rich history of the town, and the Sand Creek Country Club for golf enthusiasts. The town also hosts annual festivals celebrating local culture and heritage.
Benefits of a 12 Month Bank Statement Loan in Follett, Texas
