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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. Top Mortgage Employer 2020 , Quick Closing , Mortgage Lenders Bay Area , At AAA LENDINGS, we stand out from the crowd of mortgage lenders by prioritizing flexibility and adaptability in our approach. We understand that every borrower's financial situation is unique, and we are fully equipped to craft tailored solutions that cater to your specific needs. Whether you're a first-time homebuyer, a real estate investor, or looking to refinance, our team of experts is here to guide you through the intricacies of the mortgage process. We believe that mortgage lending should not be a one-size-fits-all endeavor, and that's what sets us apart.
– 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:

AAA LENDINGS takes pride in our community involvement and social responsibility. We believe that being a responsible lender means giving back to the communities we serve. Our team actively participates in charitable initiatives, supporting local causes, and promoting financial literacy. We're not just in the business of providing loans; we're invested in making a positive impact on the lives of our clients and the communities they call home. – 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: Tunisia , Pakistan , Venezuela , With the development and enlargement of mass clients abroad, now we've set up cooperative relationships with many major brands. We've our own factory and also have many reliable and well-cooperated factories in the field. Adhering to the quality first, customer first, We are provideing high-quality, low-cost items and first-class service to customers. We sincerely hope to establish business relationship with customers from all over the world on the basis of quality, mutually benefit. We welcome OEM projects and designs.
  • We are long-term partners, there is no disappointment every time, we hope to maintain this friendship later!
    5 Stars By Eleanore from Canberra - 2018.06.21 17:11
    Although we are a small company, we are also respected. Reliable quality, sincere service and good credit, we are honored to be able to work with you!
    5 Stars By Penelope from Bulgaria - 2018.11.22 12:28