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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. Mortgage Broker Rates , Top Mortgage Lenders In Florida , Mortgage Lender List In Ca , AAA LENDINGS is committed to making your mortgage journey an experience that truly empowers you. We understand that the prospect of securing a mortgage can be both exciting and daunting. That's why we've crafted a borrower-centric approach that not only simplifies the process but also actively engages and educates you at every step. Our aim is to make your homeownership dreams a reality while keeping you informed and excited about the process.
– AAA Lendings Non-QM 12 or 24-Month Personal / Business Bank Statements Program – AAA Lendings Detail:

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Overview

Self-employed borrower with excellent credit whose income stated on their tax return won’t qualify them for the luxury home they can afford. Qualify with 100% on Personal Account Deposits and 50% on Business Account Deposits (12 consecutive months)

Details

1) Up to $4M loan amounts;
2) Up to 90% Max LTV;
3) Self-Employed and 1099 Borrowers;
4) 660 or greater credit scores;
5) No reserves required at 75% or less LTV;
6) No 4506T / No K1’s / No P&L’s;
7) No MI(Mortgage Insurance).

Why do we choose this program?

Even though most Americans can easily qualify with full documentations for a conventional house mortgage loan, many still don’t fit the Fannie and Freddie guides when it comes to lending requirements. Luckily, Non-QM loans and bank statement income documentation are a great solution for these untraditional borrowers.

Especially, self-employed wage-earners have the luxury to write off many business expenses under the IRS Tax Code. Writing off business expenses from their gross income benefits self-employed wage-earners in paying less in income taxes.

Many self-employed people with shrewd accountants often pay little to no taxes due to taking advantage of the tax codes. Many have negative income. Unfortunately, a lot of write-offs mean self-employed wage-earners have a difficult time qualifying for a mortgage. Traditional lenders will use adjusted gross income when calculating qualified income. Great news for self-employed home buyers with non-QM loans. We have Non-QM mortgages for self-employed borrowers with no income tax returns required. In this article, we will discuss and cover non-QM bank statement mortgages for self-employed borrowers.

Who is this program designed for?

This program is designed for borrowers who are self-employed and would benefit from alternative loan qualification methods. Bank statements may be used as an alternative to tax returns to document a self-employed borrower’s income. Besides, personal and/or business bank statements are all allowed.

At least one of the borrowers must be self-employed for at least 2 years (25% or greater ownership) to qualify for this program. This is standard requirement to determine if the borrower is self-employed borrower. Sometimes, the borrower may own ownership of a business, however, we only count as self- employed borrowers when it’s more than 25%. In agency loans, we always refer to K-1 or Schedule G; while for Non-QM loans, we always need a CPA letter to verify the actual ownership.

Usually, the lender would calculate the qualifying income by taking the average value of bank statement deposits in 12 or 24 months, then multiple a standard expense factor. That should be the borrower’s qualified income for this program.

As for the expense factor, many Non-QM investors may have a standard ratio like 50%. We have this requirement as well. However, if your CPA can provide a letter with appropriate reasons, we may take considerations for a flexible expense factor. Don’t exceed the minimum limits~

If you have any needs, contact us first, we can offer a free pre-analysis income calculation. That should be much useful for all of you especially the Mortgage Loan Officers, to service your clients better.


Product detail pictures:

– AAA Lendings Non-QM 12 or 24-Month Personal / Business Bank Statements Program – AAA Lendings detail pictures


Related Product Guide:

Your time is precious, and we respect that. At AAA LENDINGS, we're committed to streamlining the mortgage process to save you time and effort. Our online application is user-friendly and designed with your convenience in mind. You can complete the application at your own pace, from the comfort of your home or office. We know you have a busy life, and we aim to make the mortgage process engaging, efficient, and time-saving. – AAA Lendings Non-QM 12 or 24-Month Personal / Business Bank Statements Program – AAA Lendings , The product will supply to all over the world, such as: Mombasa , Georgia , South Korea , Since always, we adhering to the open and fair, share to get, the pursuit of excellence, and creation of valuevalues, adhere to theintegrity and efficient, trade-oriented, best way , best valve business philosophy. Together with our all over the world have branches and partners to develop new business areas, maximum common values. We sincerely welcome and together we share in global resources, opening up new career together with the chapter.
  • Managers are visionary, they have the idea of mutual benefits, continuous improvement and innovation, we have a pleasant conversation and Cooperation.
    5 Stars By Stephen from Costa Rica - 2018.06.30 17:29
    We are a small company that has just started, but we get the company leader's attention and gave us a lot of help. Hope we can make progress together!
    5 Stars By Kevin Ellyson from Mumbai - 2017.04.28 15:45