Wholesale - AAA Lendings HELOC – AAA Lendings lender and investor

Product Detail

We understand that a mortgage is not just a financial transaction but a significant life decision. Our focus on customer-centricity means that we don't just consider the numbers; we consider your unique story, aspirations, and financial goals. Our mortgage experts take the time to understand your personal journey, ensuring that you receive a mortgage solution that aligns with your vision for the future. Mortgage Rate Forecast , Secured Debt , Lowest Mortgage Rate , At AAA LENDINGS, we operate under the firm belief that 'No Loan is impossible.' This belief is the driving force behind our operations and is embodied in our motto, Able to Assist, Always. It encapsulates the true essence of our AAA brand. We recognize that different customers and diverse lending scenarios require unique solutions, and we are fully prepared to offer them.

– AAA Lendings HELOC – AAA Lendings Detail:

Heloc

Overview

Standalone & Piggyback.

The HELOC program is Home Equity Line Of Credit.
Index + Margin. 30 Years term, 10 Yrs I/O Draw Period followed by 20 Years Amortization.

* Index: Prime Mortgage Rate floated with the market.
Margin: Subject to loan scenarios, Margin Min. 1%, Fixed.
Lifetime Max Rate: 18%.
Lifetime Rate Floor: 2.5%.

Program Highlights

1) No Prepayment Penalty;
2) No Annual Fee;
3) Primary & Second home are eligible;
4) 1 Unit & Up to 85% HCLTV;
5) Max. Loan Amount $350,000;
6) Min. FICO 680.

General Guideline

(1) Note Rate + 2% P&I over 30 years amortization as the qualifying rate.

(2) Assets/Funds to Close/Reserves:
★Piggybacks: follow first lien requirements.
★Standalone: no asset verification required if borrower is receiving cash-out (otherwise provide at least one month liquid asset statement showing sufficient funds to close).

(3) Appraisal/Property Valuation:
★Piggybacks: follow FNMA/FHLMC guidelines.
①AVM and exterior minimum property condition report (including photos) dated within 120 days of the note date.
②An appraisal (can be a desktop, exterior inspection and/or interior inspection) completed by a licensed/state certified appraiser dated within one year of the note date.
★Standalone:
1) AVM and exterior minimum property condition report (including photos).
2) An appraisal (can be a desktop, exterior inspection and/or interior inspection) completed by a licensed/state certified appraiser dated within one year of the note date.
★For credit limits > $250,000, full FNMA 1004 or FHLMC 70 with interior & exterior inspection containing color photos are required.

(4) Title may not be held in the name of a trust.

(5) POAs are permitted for all transaction types but must cover the 2nd lien transaction if utilized.

(6) Loan must be in second lien position.

(7) No Annual Fee.

(8) Leasehold is not eligible.

(9) Payment will be due on the 15th of each respective month.

(10) 5% late fee will be assessed on the payment due date + 15 days (unless there is a more restrictive state requirement).

(11) Lifetime Max. Rate: 18% or state maximum and Lifetime Rate Floor 2.5%.

(12) No Prepayment Peanlty.

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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 HELOC – AAA Lendings , The product will supply to all over the world, such as: Philippines , Jakarta , panama , You can let us know your idea to develop unique design for your own model to prevent too much similar parts in the market! We will offer our best service to satisfy all your needs! Please contact us right away!

-AAA Lendings

The company account manager has a wealth of industry knowledge and experience, he could provide appropriate program according our needs and speak English fluently.