– AAA Lendings Affordable Housing Portfolio Loan – AAA Lendings Detail:
Overview
Affordable Housing Portfolio Loan offer flexible underwriting, highly competitive rates and fixed or variable-rate financing options with certainty and speed of execution.
Details
7/6 ARM (30-Day Avg. SOFR)
1) Max. LTV 80%;
2) Max. Loan Amount $1,500,000;
3) All scenarios require 12 months P&I in the U.S. Financial Institution as reserves;
4) Primary Transaction must be CRA Eligible Loan:
①LMI of less than 80% of FFEIC median income for census tract; or
②Subject Property Located in LMI geographic location.
5) Investment Transaction must be CRA Eligible Loan:
①Subject Property Located in LMI geographic location.
* Cash Out/FN is Not Available
* Second Home Transaction is Ineligible
★Most recent 2 months bank statement required.
★Business funds may be used up to 100% of current balance if borrower can demonstrate 100% ownership of the business.
★Gift is allowed for 100% of down payment for all occupancies and properties, but no gift funds can be used for reserves.
★Subject property cannot be listed for sale at the application date.
★Max Front-End/Total Debt-to-Income (DTI) ratio allowed: 38%/50%.
★No AUS required – Manually Underwritten
★Qualifying Interest Rate: Higher of fully-indexed rate or note rate.
★Condo must be warrantable by Fannie Mae; non-warrantable condominiums will be reviewed on an individual basis.
★Transaction must be an Arms-Length Transaction.
★Appraisal guideline: One Full Appraisal and One Automated Valuation Model.
Elite P&L
①.YTD + 2021 one full year P&L Stmt completed by CPA.
②.CPA Letter (from CPA that prepared previous 2 years tax returns) verifying prepared business ownership and same location for at least 2yrs & 2yrs business license.
Elite WVOE
Completed by Employer
Product detail pictures:
Related Product Guide:
AAA LENDINGS is not just a lender; we are your financial partner. We take the time to listen to your financial goals and aspirations, offering guidance beyond the application process. Our commitment to your financial well-being extends far beyond closing the deal, and we are dedicated to helping you achieve your long-term objectives, whether that's homeownership, real estate investment, or debt consolidation. – AAA Lendings Affordable Housing Portfolio Loan – AAA Lendings , The product will supply to all over the world, such as: Uzbekistan , Ireland , Istanbul , If you need to have any of our merchandise, or have other items to be produced, make sure you send us your inquiries, samples or in depth drawings. Meanwhile, aiming to develop into an international enterprise group, we look forward to receiving offers for joint ventures and other cooperative projects.
By Athena
from
St. Petersburg
-
2018.12.22 12:52
The manufacturer gave us a big discount under the premise of ensuring the quality of products, thank you very much, we will select this company again.
By Barbara
from
Nigeria
-
2017.11.11 11:41
