Get Approved at The Lowest Rate
Traditional mortgage requirements in Franklin, AL 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 Franklin, AL 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 Franklin, AL 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 Franklin, AL, 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 Franklin, AL without excessive upfront costs.
Unlike some conventional loans, our Bank Statement Home Loan in Franklin, AL 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 Franklin, AL 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 Franklin, AL, 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 Franklin, AL to ensure you achieve your homeownership dreams.
Ready to explore the benefits of a Bank Statement Home Loan in Franklin, AL? 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.
A 12 month Bank Statement Loan in Franklin, Alabama offers numerous benefits for potential home buyers. These loans provide flexibility for self-employed individuals or those with non-traditional income sources, allowing them to qualify for a mortgage based on their bank statements rather than tax returns. Franklin, Alabama, boasts a diverse population with a strong sense of community. The town is home to a mix of young professionals, families, and retirees, creating a vibrant and inclusive atmosphere. Additionally, the town's proximity to major cities like Birmingham and Nashville makes it an ideal location for those seeking a balance between small-town charm and urban amenities. The housing market in Franklin, Alabama, has been steadily growing, with a range of housing options available to suit different preferences and budgets. Whether you're looking for a historic home with character or a modern townhouse with all the amenities, Franklin has something for everyone. The demand for homes in the area remains high, making it a promising investment for potential buyers. When it comes to attractions, Franklin offers a mix of historical sites, outdoor recreational opportunities, and cultural experiences. From exploring the quaint downtown area with its shops and restaurants to hiking in the nearby state parks, there's no shortage of things to see and do in Franklin. The town's rich history and welcoming community make it a hidden gem in Alabama.
Benefits of a 12 Month Bank Statement Loan in Franklin, Alabama
