Wholesale - AAA Lendings Non-QM Easily Qualified Asset only option – ATR-In-Full – AAA Lendings lender and investor

Product Detail

In the world of mortgage lending, accessibility is key. Our digital mortgage platform is designed with your convenience in mind. You can apply for a mortgage, upload documents, and track your loan progress online, all from the comfort of your home. We've created an engaging digital experience that puts you in control, ensuring that you can manage your mortgage application at your own pace, 24/7. Fico Score , Conventional Loan Ratios , Mortgage Lender Calculator , When it comes to customer satisfaction, we don't just meet expectations; we exceed them. Our team is committed to providing unparalleled support throughout your mortgage journey. We assign dedicated loan officers who are accessible and attentive, ensuring you receive personalized assistance from the initial inquiry to the closing table. We believe that by going the extra mile and delivering exceptional service, we not only attract but also retain satisfied customers who become our most significant advocates.

– AAA Lendings Non-QM Easily Qualified Asset only option – ATR-In-Full – AAA Lendings Detail:

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Overview

Popular asset program. Borrower has certain amount of money, which can cover the purchase price or loan amount and closing cost. No employment info; No DTI.

Details

1) Up to 75% LTV;
2) Up to $4M loan amount;
3) Primary residence only;
4) No limits on number of properties financed;
5) At least 6-month reserves from borrower’s own funds.

What’s this program?

The ATR-In-Full program is also a asset program, which is qualified with asset only. A good choice of Non-QM loans.
AAA Lendings will not calculate a DTI for applicants who qualify by proving Assets only (“ATR-In-Full”). Mechanically, any income or employment listed on an application will be deemed superfluous to the underwrite and, as the alternate, may be left blank. Should the employment and income be represented on an application, a DTI should not be calculated

How do you know if you can qualified asset for this program?

Below are the methods of calculation:
For purchase loan，the total allowable assets must match the purchase price plus any and all closing costs.
Assets >= Purchase price + all closing cost
For refinance loan，the total allowable assets must match the full loan amount plus closing costs.
Assets >= Loan amount + closing cost

See below scenarios qualification, you can refer to the calculation methods to see if you can qualify first before applying loans with lenders:

Scenario 1: Purchase price plus closing costs = $768,500. Available assets = $700,000 (savings) plus $45,000 (50% of IRA) = $748,000. Short by $20,500. If the borrower is 59.5 or older, qualifying assets would be $700,000 + $54,000 (60% of IRA) = $754,000 and short by $14,500.

Scenario 2: Loan amount plus closing costs = $518,500. Available assets = $370,000 (savings) + $100,000 (50% of IRA) = $470,000. Short by $48,500. If 59.5 or older, qualifying assets = $370,000 + $120,000 (60% of IRA) = $490,000 and short by $28,500.

What’s the eligible asset for this program？

Cash, stocks, bonds and personal liquid assets ( no property ) = 100%
Retirement accounts = 50% if 59 or younger and 60% if older
No business funds

What’s the benefits?

Min. 6 month Reserves

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