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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 is ATR-In-Full?

The ATR-In-Full program is also an 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. As the alternative, may be left blank.

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