Get Approved at The Lowest Rate
Traditional mortgage requirements in Tatum, 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 Tatum, 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 Tatum, 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 Tatum, 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 Tatum, TX without excessive upfront costs.
Unlike some conventional loans, our Bank Statement Home Loan in Tatum, 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 Tatum, 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 Tatum, 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 Tatum, TX to ensure you achieve your homeownership dreams.
Ready to explore the benefits of a Bank Statement Home Loan in Tatum, 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 flexibility for self-employed individuals or those with non-traditional income sources. It allows applicants to use bank statements instead of tax returns, enabling more people to qualify for a mortgage. 2. Simplified Process: Compared to traditional loans, the application process for a 12-month bank statement loan is often quicker and more straightforward. This can be beneficial for individuals who need financing promptly. 3. Higher Approval Rates: Since these loans focus more on bank statements and cash flow rather than tax returns, individuals with fluctuating income or business owners may have higher chances of approval. Demographics Tatum, Texas, is a small town with a population of around 1,500 residents. The community is tight-knit, with a mix of families, retirees, and young professionals. The town has a rural charm and offers a peaceful atmosphere for its residents. Housing Market The housing market in Tatum, Texas, is stable and offers a range of housing options, from cozy bungalows to spacious family homes. The median home value in Tatum is affordable, making it an attractive option for first-time homebuyers or those looking to invest in property. Main Attractions Despite its small size, Tatum, Texas, has a lot to offer. The town is close to outdoor recreational areas, such as Lake Murvaul, which is popular for fishing and boating. Additionally, Tatum is known for its local shops, restaurants, and community events that bring residents together.
Benefits of a 12-Month Bank Statement Loan in Tatum, Texas
