– 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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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. – 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: Saudi Arabia , United Kingdom , Roman , Our company absorbs new ideas, strict quality control, a full range of service tracking, and adhere to make high-quality products. Our business aims to honest and trustworthy, favorable price, customer first, so we won the trust of the majority of customers! If you are interested in our products and services, please do not hesitate to contact us!
By Eve
from
America
-
2017.08.18 18:38
Product quality is good, quality assurance system is complete, every link can inquire and solve the problem timely!
By King
from
Turkey
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2018.06.30 17:29
