– AAA Lendings Non-QM Easily Qualified Asset only option – ATR-In-Full – AAA Lendings Detail:
Overview
Popular asset program. Borrower has certain amount of assets, which can cover the purchase price or loan amount and closing cost. No employment info required; No DTI.
Program Highlights
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 months 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.
We 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.
Qualification
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 the borrower is 59.5 or older, qualifying assets = $370,000 + $120,000 (60% of IRA) = $490,000 and short by $28,500.
Eligible Assets
Cash, stocks, bonds and personal liquid assets ( no property ) = 100%.
Retirement accounts = 50% if 59 or younger and 60% if older.
No business funds.
Product detail pictures:
Related Product Guide:
Innovation is part of our DNA. We continuously seek ways to enhance the mortgage experience for our clients. Our state-of-the-art online application process, secure document management, and digital communication options offer a seamless, paperless mortgage journey. With AAA LENDINGS, you can expect a modern, efficient, and secure mortgage lending experience that keeps up with the fast-paced world of technology. Your convenience and security are paramount to us. – 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: Sacramento , Singapore , Malaysia , Insisting over the high-quality generation line management and prospects guide provider, we've made our resolution to offer our shoppers using the initially stage purchasing and soon after provider working experience. Preserving the prevailing helpful relations with our prospects, we even now innovate our product lists the many time to meet up with the brand new wants and stick to the latest trend of this business in Ahmedabad. We're ready to facial area the difficulties and make the transform to grasp many of the possibilities in international trade.
By Kay
from
Eindhoven
-
2018.02.04 14:13
The factory workers have rich industry knowledge and operational experience, we learned a lot in working with them,we are extremely grateful that we can encount a good company has excellent wokers.
By Honorio
from
Cape Town
-
2018.11.28 16:25
