– 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:
At AAA LENDINGS, we believe in giving back to our valued customers. That's why we offer a loyalty program that rewards you for your trust and ongoing partnership with us. Our loyalty program is designed to keep you engaged and appreciated, offering exclusive benefits and discounts for our returning customers. Your commitment to AAA LENDINGS is recognized and rewarded, and we strive to make your continued interest in our services a rewarding experience. – AAA Lendings HELOC – AAA Lendings , The product will supply to all over the world, such as: Bhutan , Jamaica , Australia , Due to our good goods and services, we've received good reputation and credibility from local and international customers. If you will need more information and are interested in any of our solutions, be sure to feel free to contact us. We look forward to becoming your supplier in the near future.
By Fanny
from
Gabon
-
2017.09.22 11:32
This manufacturers not only respected our choice and requirements, but also gave us a lot of good suggestions, ultimately， we successfully completed the procurement tasks.
By Riva
from
Luxemburg
-
2017.09.09 10:18
