– AAA Lendings Non-QM Easily Qualified Asset only option – ATR-In-Full – AAA Lendings Detail:
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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Related Product Guide:
Planning your financial future begins with the right mortgage partner, and at AAA LENDINGS, we are committed to helping you achieve your dreams. We understand that the journey towards homeownership can be exciting but also daunting. Our seasoned professionals are more than just mortgage experts; they are your financial allies. They are available to discuss your goals, assess your financial situation, and provide personalized guidance that captures your interest. We take pride in being the guiding hand that empowers you to make informed decisions about your future. – AAA Lendings Non-QM Easily Qualified Asset only option – ATR-In-Full – AAA Lendings , The product will supply to all over the world, such as: Armenia , Tajikistan , El Salvador , We've got constructed strong and long co-operation relationship with an enormous quantity of companies within this business overseas. Immediate and specialist after-sale service supplied by our consultant group has happy our buyers. In depth Info and parameters from the merchandise will probably be sent to you for any thorough acknowledge. Free samples may be delivered and company check out to our corporation. n Portugal for negotiation is constantly welcome. Hope to get inquiries type you and construct a long-term co-operation partnership.
By Judith
from
Armenia
-
2017.09.16 13:44
This manufacturer can keep improving and perfecting products and service, it is in line with the rules of market competition, a competitive company.
By Megan
from
Surabaya
-
2017.09.28 18:29
