– AAA Lendings Equity Solutions – AAA Lendings Detail:
Overview
Easy Qualified Closed End Second.
Loan Term: Fixed; 15 Yrs Balloon.
Details
1) Standalone’s and Piggyback’s Second Loan are Both Available;
2) Primary and Investment Property are Available;
3) No Prepaid Penalty;
4) No Reserves Needed;
5) Range of Loan Amount: $75,000 – $350,000;
6) Max. CLTV: 85%.
* Loan amount are rounded down to the nearest $100
Income Documentation
Option1: Bank Statements – 12 Mths Personal & Business Bank Stmts
★Personal & Business-Combined or Business (12mo.):
§ At least one of the borrowers must be self-employed for at least 2 years (25% or greater ownership);
§ Asset Depletion allowed with Bank Statement documentation;
§ Standard expense factors apply: 50% expense factor:
①If business operates < standard expense factor, P&L or expense letter from CPA, CTEC (California Tax Education Council), or EA (Enrolled Agent) required;
②Minimum expense factor with 3rd party prepared P&L or letter is 20%.
★Personal & Business Separated (12mo.):
①At least one of the borrowers must be self-employed for at least 2 years (25% or greater ownership);
②Asset Depletion allowed with Bank statement documentation;
③Personal used to qualify, 3 months business to show business cash flows in order to utilize 100% of business related deposits in personal account (no expense factor).
Option2: Full Doc – 1 Yr & 2Yrs
General Guideline
★30/15yr Balloon &40/15yr Balloon min loan amount $200k.
★Maximum Combined Liens – $1.5 M.
★Most recent 2 months bank statements required.
★Property Type – SFR, PUD, Condo-Warrantable.
★Properties listed for sale in the last 12 months are not eligible.
★Borrowers – Eligible for US Citizen, Non-Permanent Resident Alien (with US Credit), Permanent Resident Alien. Ineligible for Non-occupant co-borrowers & entities.
★3 tradelines reporting for 12+ months or 2 tradelines reporting for 24+ months all with activity in the last 12 months.
★Credit Event Seasoning – 48 months – Foreclosure, short-sale, deed in lieu, bankruptcy. No multiple events in last 7 years.
★Derogatory Credit – No open charge-offs or collections in 48 months. No delinquent tradelines at closing.
★Housing Lates – 0x30x12 On all mortgages for all borrowers. Minimum 12 months housing history required.
★Appraisal Requirements:
①Previous appraisal within 12 months + Residential Appraisal Review. Review value must be equal to or greater than appraisal;
②New 2055 appraisal and Residential Appraisal Review supporting value within 10% variance. Lower of two values to be used;
③Declining markets maximum 75% CLTV on Owner Occupied/2nd Home. Maximum 70% CLTV on Non Owner Occupied.
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For many of our clients, a mortgage is more than just a financial transaction; it's a significant life milestone. Whether you're a first-time homebuyer or a seasoned real estate investor, we approach each application with the care and attention it deserves. We take the time to understand your goals and aspirations, ensuring that your mortgage aligns with your vision for your future. – AAA Lendings Equity Solutions – AAA Lendings , The product will supply to all over the world, such as: French , Ottawa , Congo , Thus far, our item associated with printer dtg a4 may be shown in most foreign nations as well as urban centers, which are sought after simply by targeted traffic. We all highly imagine that now we have the full capacity to present you with contented merchandise. Desire to collect requests of your stuff and produce the long-term co-operation partnership. We very seriously promise:Csame top quality, better price; exact same selling price, higher quality.
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