Bank statement loans in Clay County, Texas
If you've been told you 'make too much to qualify on paper' in Clay County, a bank statement loan is likely your answer. It qualifies you on your deposits, so the income you actually earn is the income that counts. If most of your income is on 1099s, a 1099 loan can count roughly 90–100% of it instead. We serve self-employed buyers from the county seat of Henrietta to communities across Clay County.
Clay County at a glance
In Clay County, the median household income is about $74,944 (2024). A bank statement loan counts real cash flow, so strong deposits can support a home at the local price even when taxable income looks low.
Who qualifies in Clay County
- Credit from 620 and down payments from 10%
- Personal or business bank statements both accepted
- DSCR options too, if you're financing a Clay County rental on its own cash flow
- Write-offs that cut your taxable income don't cut your qualifying income
Business owners across Clay County turned down on a conventional loan often qualify here on deposits alone — the check is free and there's no obligation.
Gig income counts — document it right
Uber, DoorDash, Instacart, freelance platforms — lenders aggregate it all as self-employment income. Route payouts into one account, keep your 1099s, and show about two years of history. Bank statement and 1099 loans capture what the apps actually paid you, not what survived your mileage deduction.
Texas's 80% cash-out rule
Texas homestead law caps cash-out refinances on a primary residence at 80% of the home's value — you must keep at least 20% equity. It applies to every loan type, including bank-statement loans, so plan your cash-out around that ceiling.
LLC and S-corp owners: your K-1 isn't the ceiling
Owners who pay themselves modest salaries and leave profit in the business look artificially small on paper. Bank statement programs can use your business account deposits — typically counted around 50%, or higher with a CPA letter documenting your expense ratio — so the company's real cash flow backs your approval.