Get Approved at The Lowest Rate
Traditional mortgage requirements in Monahans, 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 Monahans, 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 Monahans, 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 Monahans, 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 Monahans, TX without excessive upfront costs.
Unlike some conventional loans, our Bank Statement Home Loan in Monahans, 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 Monahans, 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 Monahans, 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 Monahans, TX to ensure you achieve your homeownership dreams.
Ready to explore the benefits of a Bank Statement Home Loan in Monahans, 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.
When considering a 12-month bank statement loan in Monahans, Texas, borrowers can enjoy several key benefits. These loans are ideal for self-employed individuals or business owners who may not have traditional income documentation. With a bank statement loan, lenders use bank statements to assess a borrower's income, making it easier for those with non-traditional income sources to qualify for a mortgage. Demographically, Monahans, Texas, boasts a population of around 7,500 residents. The town has a strong sense of community and a low cost of living compared to larger cities in the state. The town's diverse population includes families, young professionals, and retirees attracted to its small-town charm and friendly atmosphere. In terms of the housing market, Monahans offers a range of options for homebuyers. The real estate market is competitive yet affordable, with a median home price below the state average. This makes Monahans an attractive location for first-time buyers and those looking to invest in property. Some main attractions in Monahans include the Monahans Sandhills State Park, known for its stunning sand dunes and outdoor recreational activities. The Million Barrel Museum showcases the town's rich history in the oil industry, while the Ward County Museum offers insights into the area's heritage and culture.
Benefits of a 12-Month Bank Statement Loan in Monahans, Texas
