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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. Flood Insurance , State Licensed , Mortgage Lender Companies , At AAA LENDINGS, we operate under the firm belief that 'No Loan is impossible.' This belief is the driving force behind our operations and is embodied in our motto, Able to Assist, Always. It encapsulates the true essence of our AAA brand. We recognize that different customers and diverse lending scenarios require unique solutions, and we are fully prepared to offer them.
– 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:

Customer education is a cornerstone of AAA LENDINGS' mission. We believe that an informed borrower is an empowered borrower. That's why we go the extra mile to provide educational resources and guidance to help you navigate the complexities of the mortgage process. Our team is dedicated to answering your questions, explaining the intricacies of interest rates, loan options, and more, ensuring that you make well-informed decisions. Your financial literacy and confidence matter to us. – 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: Mexico , Mexico , Switzerland , our qualify products have good reputation from the world as its most competive price and our most advantage of after-sale service to the clients.we hope we can provide a safe, environmental products and super service to our clients from all of the world and establish strategic partnership with them by our professional standards and unremitting efforts.
  • The company account manager has a wealth of industry knowledge and experience, he could provide appropriate program according our needs and speak English fluently.
    5 Stars By Odelette from Egypt - 2017.08.28 16:02
    Cooperate with you every time is very successful, very happy. Hope that we can have more cooperation!
    5 Stars By Julie from European - 2018.02.21 12:14