Get Approved at The Lowest Rate
Traditional mortgage requirements in Riverside, CA 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 Riverside, CA 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 Riverside, CA 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 Riverside, CA, 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 Riverside, CA without excessive upfront costs.
Unlike some conventional loans, our Bank Statement Home Loan in Riverside, CA 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 Riverside, CA 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 Riverside, CA, 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 Riverside, CA to ensure you achieve your homeownership dreams.
Ready to explore the benefits of a Bank Statement Home Loan in Riverside, CA? 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 a 12-month bank statement loan in Riverside, California is the flexibility it offers to self-employed individuals. Traditional loans often require extensive documentation, but with a bank statement loan, applicants can use their bank statements to demonstrate income, making it easier to qualify for a mortgage. Demographically, Riverside is a diverse city with a population exceeding 300,000. The median age is around 30 years old, reflecting a relatively young community. The city is also known for its large Hispanic and Asian populations, contributing to its cultural richness. In terms of the housing market, Riverside offers a range of options from historic homes in areas like Wood Streets to modern developments in Mission Grove. The market is competitive, with a median home price around $400,000. The availability of 12-month bank statement loans can make homeownership more accessible in this dynamic market. Riverside boasts a variety of attractions, including the historic Mission Inn Hotel & Spa, the March Field Air Museum, and the Mount Rubidoux hiking trail, offering residents and visitors recreational and cultural opportunities.
Benefits of a 12-Month Bank Statement Loan in Riverside, California
