Get Approved at The Lowest Rate
Traditional mortgage requirements in Stowell, 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 Stowell, 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 Stowell, 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 Stowell, 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 Stowell, TX without excessive upfront costs.
Unlike some conventional loans, our Bank Statement Home Loan in Stowell, 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 Stowell, 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 Stowell, 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 Stowell, TX to ensure you achieve your homeownership dreams.
Ready to explore the benefits of a Bank Statement Home Loan in Stowell, 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. Flexibility: A 12 month bank statement loan offers self-employed individuals or those with non-traditional income sources the flexibility to secure a mortgage based on their bank statements rather than tax returns. 2. Faster Approval Process: These types of loans typically have a quicker approval process compared to traditional mortgages, as they focus more on bank statements and business cash flow rather than extensive paperwork. 3. Higher Approval Rates: Since bank statement loans rely on different criteria for approval, individuals who may not qualify for a conventional mortgage could have a higher chance of approval with this type of loan. Demographics: Stowell, Texas, is a small community with a population of around 1500 residents. The town is known for its tight-knit community, friendly atmosphere, and diverse population. Housing Market: Stowell's housing market offers a mix of affordable single-family homes, charming ranch-style properties, and spacious lots. The average home price in Stowell is reasonable, making it an attractive option for first-time homebuyers or those looking to downsize. Main Attractions: Stowell is situated near the beautiful Gulf Coast, providing residents with easy access to stunning beaches, fishing spots, and outdoor recreational activities. The town also boasts a rich history, with heritage sites, local eateries, and community events for residents to enjoy.
Benefits of 12 Month Bank Statement Loan in Stowell, Texas
