Get Approved at The Lowest Rate
Traditional mortgage requirements in Sherman, 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 Sherman, 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 Sherman, 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 Sherman, 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 Sherman, TX without excessive upfront costs.
Unlike some conventional loans, our Bank Statement Home Loan in Sherman, 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 Sherman, 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 Sherman, 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 Sherman, TX to ensure you achieve your homeownership dreams.
Ready to explore the benefits of a Bank Statement Home Loan in Sherman, 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.
1. Flexible Approval: A bank statement loan allows individuals with non-traditional income sources to qualify for a mortgage. This type of loan considers bank statements instead of tax returns, making it ideal for self-employed individuals or those with fluctuating incomes. 2. Quick Approval Process: Compared to traditional mortgage loans, bank statement loans usually have a quicker approval process. This can be beneficial for those looking to secure funding promptly for their dream home in Sherman, Texas. 3. Higher Loan Amounts: Bank statement loans may offer higher loan amounts compared to conventional mortgages, enabling applicants to purchase more expensive properties or invest in real estate opportunities in Sherman. Demographics in Sherman, Texas Sherman, located in North Texas, has a population of approximately 42,000 people. The city boasts a diverse community with a mix of young professionals, families, and retirees. The median household income is around $45,000, and the cost of living is relatively affordable compared to other parts of the state. Housing Market Overview Sherman's housing market is experiencing steady growth, with a median home price of $200,000. The real estate market offers a range of housing options, including single-family homes, townhouses, and apartments. The demand for housing in Sherman is fueled by its proximity to major cities like Dallas and Fort Worth, making it an attractive location for commuters. Main Attractions in Sherman, Texas Sherman is known for its historic downtown district, which features charming shops, restaurants, and cultural attractions. The city is also home to several parks, museums, and recreational facilities, offering residents a variety of leisure activities. Additionally, Sherman hosts various events and festivals throughout the year, creating a vibrant and engaging community for all ages.
Benefits of a 12 Month Bank Statement Loan in Sherman, Texas
