– 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) Max. HCLTV 85%;
5) Max. Loan Amount $350,000;
6) Min. FICO 680.
Income Guideline
★Piggybacks follow first lien requirements.
★Standalones: Most recent one month paystub + most recent year W2.
★Tax transcripts are required when using tax returns for qualifying purposes.
General Guideline
The source of Prime Mortgage Rate link: https://www.wsj.com/market-data/bonds/moneyrates
★Max origination charge is “Max Point & Fee 5%”.
★$1.5m Max Combined Liens.
★Lifetime Max Rate: 18% or state maximum and lifetime rate floor 2.5%.
★Buy-up is ineligible .
★Buy-down ratio:1:3 (0.125 decreased on rate, 0.375 cost to price. max buy-down 1.000% in
rate.)
★Second Home Purchase Transaction Ineligible currently
(1)Max DTI 43% for loan Limit <= $250,000| 34% for loan Limit > $250,000
(2) Note Rate + 2% P&I over 30 year amortization as the qualifying rate.
(3)Assets/Funds to Close/Reserves:
★Piggybacks: follow first lien requirements.
★Standalones: no asset verification is required if borrower is receiving cash-out (otherwise provide at least one month liquid asset statements showing sufficient funds to close)
(4)Mortgage late:0x30x24
Product detail pictures:
Related Product Guide:
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 HELOC – AAA Lendings , The product will supply to all over the world, such as: Peru , Bangkok , California , Our domestic website's generated over 50, 000 purchasing orders every year and quite successful for internet shopping in Japan. We would be happy to have an opportunity to do business with your company. Looking forward to receiving your message !
By Andrew Forrest
from
Afghanistan
-
2017.01.28 18:53
We have been engaged in this industry for many years, we appreciate the work attitude and production capacity of the company, this is a reputable and professional manufacturer.
By Caroline
from
Panama
-
2018.11.06 10:04
