– 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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Our commitment to excellence and dedication to our customers have propelled us to expand our operations across 45 states, including Arizona, California, Washington D.C., Florida, Nevada, and Texas, among others. However, our success isn't solely defined by numbers. The countless positive reviews and strong word-of-mouth reputation we've garnered serve as a testament to the trust and confidence the market has placed in us. – AAA Lendings Equity Solutions – AAA Lendings , The product will supply to all over the world, such as: Stuttgart , Montreal , Pakistan , Products have been exported to Asia, Mid-east,European and Germany market. Our company has constantly been able to update the products performance and safety to meet the markets and strive to be top A on stable quality and sincere service. If you have the honor to do business with our company. we will definitely do our very best to support your business in China.
By Marian
from
Bolivia
-
2017.09.26 12:12
The supplier cooperation attitude is very good, encountered various problems, always willing to cooperate with us, to us as the real God.
By May
from
Slovenia
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2017.06.22 12:49
