Get Approved at The Lowest Rate
Traditional mortgage requirements in Groom, 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 Groom, 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 Groom, 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 Groom, 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 Groom, TX without excessive upfront costs.
Unlike some conventional loans, our Bank Statement Home Loan in Groom, 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 Groom, 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 Groom, 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 Groom, TX to ensure you achieve your homeownership dreams.
Ready to explore the benefits of a Bank Statement Home Loan in Groom, 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 opting for a 12 month bank statement loan in Groom, Texas is the flexibility it offers to self-employed individuals or those with non-traditional income sources. This type of loan allows applicants to use their bank statements as proof of income rather than traditional tax documents or pay stubs. This can make the loan approval process quicker and more straightforward for individuals with fluctuating incomes. Demographically, Groom, Texas, is a small town with a population of approximately 600 residents. The community is tight-knit and offers a peaceful and welcoming environment for families and individuals looking to settle down in a quiet rural setting. The town boasts a low crime rate and excellent school system, making it an ideal location for those seeking a safe and family-friendly community. In terms of the housing market, Groom, Texas, provides affordable housing options compared to larger urban areas. The median home price in Groom is below the national average, making it an attractive option for first-time homebuyers or those looking to invest in real estate. The market is stable and offers a variety of housing styles to suit different preferences and budgets. Groom, Texas, is known for its iconic landmark, the Groom Cross, a large cross visible from miles away along I-40. The town also houses the unique and charming leaning water tower, a popular spot for tourists and locals alike. Additionally, the nearby Bug Ranch and Route 66 attractions offer residents and visitors opportunities for leisure and exploration.
Benefits of a 12 Month Bank Statement Loan in Groom, Texas
