– 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.
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 Equity Solutions – AAA Lendings , The product will supply to all over the world, such as: Birmingham , Georgia , French , We are very responsible for all details on our customers order no matter on warranty quality, satisfied prices, quick delivery, on time communication, satisfied packing, easy payment terms, best shipment terms, after sales service etc. We provide one-stop service and best reliability to our every customers. We work hard with our customers, colleagues, workers to make a better future.
By Quyen Staten
from
Colombia
-
2017.06.19 13:51
Hope that the company could stick to the enterprise spirit of Quality, Efficiency, Innovation and Integrity, it will be better and better in the future.
By Maggie
from
Madras
-
2018.09.29 17:23
