– AAA Lendings Enhanced R series – Elite True Stated Income – AAA Lendings Detail:
				
		Overview
	
Use Borrower’s 6 months deposits of monthly income to support the stated income in 1003.
* Foreign National or Cash Out is Not Available
		Program Highlights
	
7/6 ARM (5/1/5); 5/6 ARM (2/1/5)
1) No P&L Needed;
2) No WVOE Needed;
3) No Tax Returns Needed;
4) No 4506-T Needed;
5) Gift funds allowed;
6) Loan amount up to $2.5M;
7) Purchase & R/T Refinance are available.
		What is Elite True Stated Income?
	
• Do you know how to use assets only to qualify for your house mortgage loan?
• Were you suspended or denied by the lender for a WVOE (Written Verification of Employment) program?
• Has it been difficult to obtain WVOE form from your employer?
The program is designed for salaried borrowers and self-employed borrowers.
		How does Elite True Stated Income work?
	
Just like what the product name, this program is qualified with asset as well. See below:
· Stated Income means the borrower states their REASONABLE current income in the 1003
(Application).
· We verify that their monthly income can be SUPPORTED by the liquid assets pre-closing.
Calculation:
Assets / 6 must be greater than Stated Income
· Medical Doctor who has $300,000 in assets and 1003 income of $20,000 a month?
Yes, this scenario is eligible. $300,000 / 6 = $50,000 which is greater than $20,000 monthly income listed on the application. We use $20,000 for qualification.
· Wage Earning Masseuse who has $100,000 in assets and stated income of $15,000 a month?
No, this scenario is not eligible. Although $100,000 / 6 = $16,666 > $15,000 which is the monthly income stated. It is not reasonable for a wage earning masseuse to make $15,000 a month.
· Self-employed Import/Export Entrepreneur with $500,000 in assets and stated income of $100,000 a month?
Yes, this scenario is eligible. $500,000 / 6 = $83,333 & borrower states $100,000 a month. However only $83,333 is used for qualification purposes.
If we choose the Elite True Stated Income, the borrower will only be required to provide an Asset Based Income on the Loan Application (1003). This income will be utilized to calculate qualifying debt to income ratio.
		Who can apply for Elite True Stated Income?
	
Whether you are salaried borrowers who have difficulties with WVOE programs or self-employed borrowers who do not have enough income shown on the tax returns, this is the program for you. For salaried borrowers, no additional documents are required. For self-employed or 1099 borrowers, a CPA verification letter is required.
Product detail pictures:
 
                            Related Product Guide:
Innovation is part of our DNA. We continuously seek ways to enhance the mortgage experience for our clients. Our state-of-the-art online application process, secure document management, and digital communication options offer a seamless, paperless mortgage journey. With AAA LENDINGS, you can expect a modern, efficient, and secure mortgage lending experience that keeps up with the fast-paced world of technology. Your convenience and security are paramount to us. – AAA Lendings Enhanced R series – Elite True Stated Income – AAA Lendings , The product will supply to all over the world, such as: Porto , Swedish , Lahore , Now, we professionally supplies customers with our main products And our business is not only the buy and sell, but also focus on more. We target to be your loyal supplier and long-term cooperator in China. Now, We hope to be the friends with you.
 By Ellen
 from
                                Morocco
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                                2018.05.22 12:13
 By Ellen
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                                Morocco
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                                2018.05.22 12:13
                            As an international trading company, we have numerous partners, but about your company, I just want to say, you are really good, wide range, good quality, reasonable prices, warm and thoughtful service, advanced technology and equipment and workers have professional training, feedback and product update is timely, in short, this is a very pleasant cooperation, and we look forward to the next cooperation!
 By Phoebe
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                                2017.01.28 19:59
 By Phoebe
 from
                                Vietnam
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                                2017.01.28 19:59
                            

 
				



