Get Approved at The Lowest Rate
Traditional mortgage requirements in Shelby, 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 Shelby, 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 Shelby, 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 Shelby, 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 Shelby, AL without excessive upfront costs.
Unlike some conventional loans, our Bank Statement Home Loan in Shelby, 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 Shelby, 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 Shelby, 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 Shelby, AL to ensure you achieve your homeownership dreams.
Ready to explore the benefits of a Bank Statement Home Loan in Shelby, 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.
When considering a 12-month bank statement loan in Shelby, Alabama, several benefits come to light. These loans are great for self-employed individuals who may not have traditional income documentation. They offer flexibility in income verification and can help secure financing for those who are running small businesses or have non-standard income sources. Shelby, Alabama, boasts a diverse demographic profile with a mix of young professionals, families, and retirees. The area is known for its friendly community atmosphere and strong sense of civic pride. With a growing economy, Shelby offers ample opportunities for business growth and personal development. The housing market in Shelby, Alabama, is characterized by competitive prices and a range of housing options to suit different budgets and preferences. The real estate market is stable, making it an attractive location for both homebuyers and property investors looking for long-term value. Some of the main attractions in Shelby include its picturesque landscapes, outdoor recreational activities, and historical sites. From parks and trails to cultural events and local festivals, Shelby offers a vibrant lifestyle for residents and visitors alike.
Benefits of 12-Month Bank Statement Loan in Shelby, Alabama
