– AAA Lendings HELOC – AAA Lendings Detail:
				
		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.
Product detail pictures:
 
                            Related Product Guide:
While many lenders have limited their scope, we continue to expand our presence across various states, serving borrowers in 45 states, including some of the most dynamic markets like California and Texas. Our expansive reach allows us to understand and adapt to regional nuances, ensuring that our clients in different states receive localized support while still benefiting from our nationwide expertise. – AAA Lendings HELOC – AAA Lendings , The product will supply to all over the world, such as: Malta , kazakhstan , Thailand , To achieve reciprocal advantages, our company is widely boosting our tactics of globalization in terms of communication with overseas customers, fast delivery, the best quality and long-term cooperation. Our company upholds the spirit of innovation, harmony, team work and sharing, trails, pragmatic progress. Give us a chance and we will prove our capability. With your kind help, we believe that we can create a bright future with you together.
 By Mildred
 from
                                Indonesia
 -
                                2017.06.25 12:48
 By Mildred
 from
                                Indonesia
 -
                                2017.06.25 12:48
                            Superb technology, perfect after-sales service and efficient work efficiency, we think this is our best choice.
 By Lena
 from
                                Melbourne
 -
                                2018.11.02 11:11
 By Lena
 from
                                Melbourne
 -
                                2018.11.02 11:11
                            

 
				

