Get Approved at The Lowest Rate
Traditional mortgage requirements in Frisco City, 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 Frisco City, 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 Frisco City, 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 Frisco City, 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 Frisco City, AL without excessive upfront costs.
Unlike some conventional loans, our Bank Statement Home Loan in Frisco City, 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 Frisco City, 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 Frisco City, 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 Frisco City, AL to ensure you achieve your homeownership dreams.
Ready to explore the benefits of a Bank Statement Home Loan in Frisco City, 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.
Obtaining a 12-month bank statement loan in Frisco City, Alabama offers numerous advantages. Firstly, this type of loan is beneficial for those with non-traditional income sources such as self-employed individuals or small business owners. It allows for greater flexibility in demonstrating income, making it easier for such individuals to secure financing for a home purchase. Secondly, the 12-month bank statement loan often has less strict requirements when it comes to credit scores compared to traditional loans. This can be advantageous for borrowers with less-than-perfect credit, as they still have the opportunity to qualify for a loan and achieve their dream of homeownership. Lastly, the streamlined approval process of a 12-month bank statement loan means that borrowers can get approved faster, enabling them to move forward with their home purchase more efficiently.
Benefits of a 12 Month Bank Statement Loan in Frisco City, Alabama
