Get an in-Depth Knowledge About the Bank Statement Home Loans in Houston


Are you one of the many people who needs to qualify for a mortgage but can’t prove their income? You can’t find the salary stubs, W2s, or tax returns from the last two years. Are you at a loss for what to do? You can materialise your dream of homeownership with a bank statement home loan. 

To justify your earnings to the investor, you just need to show your bank account, as the name suggests. But, in Houston, can anybody get a bank statement home loan? Well, no! Continue reading to see who is eligible to apply for the loan:


  • Self-employed

Self-employed individuals are the most common applicants, and they can conveniently apply for this loan scheme. Though self-employed people make money, proving it with pay stubs is challenging. While your tax returns will seem to be satisfactory, lenders must use the net income you disclose rather than the real net income you get. Before this loan program, it was difficult for self-employed individuals to purchase a house. The bank statement loan program makes it simple for self-employed people to buy a house. These borrowers can secure a mortgage loan by submitting 12 months of bank statements showing monthly tax receipts to the lender. You must have outstanding or excellent revenue, sufficient funds to support the interest payment, and a fair down payment to be approved for this loan.

  • Seasonal workers

Many Americans work seasonally, which means they earn their entire year’s income in a single season. If you are a seasonal worker, you are a great candidate for this loan. A typical lender must first determine how much money the creditor earns in a season, then annualize it to determine how much money they earned in a year. Because of this, getting a loan is tough. Bank statement loans, on the other hand, allow you to use your bank statements to document your money. You should retain the seasonal job for at least two years and bring the capital to good use. The lender will also annualize your pay, so that any extra money you bring in on a regular basis will be taken into account according to the bank statements.

  • Commissioned individuals

Employees who make profits are compensated on a commission basis. As a commissioned employee, you can find it difficult to obtain a conventional home loan. If you work on a commission basis, you can get a couple of write-offs on your job. As a result of these write-offs, the total number of earnings you will need to apply for a loan will be limited.

Bank statement home loans, on the other side, enable the lender to deduct less expenses from your earnings, raising your chances of approval.

Are you one of the people listed above? Then, without further ado, apply for the bank statement home loans in Houston as soon as possible!

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