Bank statement loans in Ward County, Texas
Buying a home in Ward County when you're self-employed comes down to one thing: showing your true income. Bank statement loans do exactly that, averaging your monthly deposits to set your qualifying income. Lenders count 12–24 months of deposits — often 50% of business or 100% of personal — as income. We serve self-employed buyers from the county seat of Monahans to communities across Ward County.
Who qualifies in Ward County
- Self-employed 2+ years (1–2 years may work with experience)
- 12–24 months of bank statements
- 620+ credit and 10%%+ down
- Roughly 50%% of monthly deposits counted as income
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.
Close your rental in an LLC
DSCR loans commonly close in an entity's name, which is why investors love them: liability separation, no personal income docs, and qualification that's just the property's rent divided by its full payment (PITIA). A ratio of 1.0 covers the payment; 1.25+ earns the best pricing.
Asset depletion: your portfolio is your paycheck
Retirees and business sellers can qualify by converting verified assets into income — commonly eligible assets divided over a set number of months. Cash counts fully, securities and retirement funds at a discount. No employment, no tax returns: the balance sheet does the talking.