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Customer education is a cornerstone of AAA LENDINGS' mission. We believe that an informed borrower is an empowered borrower. That's why we go the extra mile to provide educational resources and guidance to help you navigate the complexities of the mortgage process. Our team is dedicated to answering your questions, explaining the intricacies of interest rates, loan options, and more, ensuring that you make well-informed decisions. Your financial literacy and confidence matter to us. Wholesale Mortgage , Owner-Occupancy , Current Mortgage Rates , At AAA LENDINGS, we believe that homeownership should be an enjoyable and fulfilling experience. To engage and excite you on this journey, we provide exclusive access to our homeowner's community. Connect with others on the same path, share experiences, and discover valuable insights to make your homeownership journey an engaging and interactive one. Your home is not just a property; it's a community and a lifestyle, and we're here to make that journey more captivating.
– AAA Lendings Enhanced R series – Elite True Stated Income – AAA Lendings Detail:

E TSI 2

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:

– AAA Lendings Enhanced R series – Elite True Stated Income – AAA Lendings detail pictures


Related Product Guide:

Transparency is at the core of our operations. We take pride in our open and honest communication with our clients. No hidden fees, no surprises. We provide clear, straightforward information about your mortgage options, ensuring you have all the facts to make informed decisions. Our goal is to build trust with our clients by being forthright and transparent, making your home financing experience as smooth as possible. – AAA Lendings Enhanced R series – Elite True Stated Income – AAA Lendings , The product will supply to all over the world, such as: Portland , Nairobi , Singapore , Our company, is always regarding quality as company' s foundation, seeking for development via high degree of credibility , abiding by iso9000 quality management standard strictly , creating top-ranking company by spirit of progress-marking honesty and optimism.
  • Although we are a small company, we are also respected. Reliable quality, sincere service and good credit, we are honored to be able to work with you!
    5 Stars By Tom from Provence - 2017.09.09 10:18
    We feel easy to cooperate with this company, the supplier is very responsible, thanks.There will be more in-depth cooperation.
    5 Stars By Jean Ascher from The Swiss - 2017.02.28 14:19