– 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”). For this program, you may leave the income section blank on the loan application as it is not applicable to this program.
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:
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: Munich , Moscow , Monaco , Why we can do these? Because: A, We are honest and reliable. Our products have high quality, attractive price, sufficient supply capacity and perfect service. B, Our geographical position has a big advantage . C, Various types: Welcome your inquiry, It will be highly appreciated.
By Philipppa
from
Bangkok
-
2018.05.15 10:52
Timely delivery, strict implementation of the contract provisions of the goods, encountered special circumstances, but also actively cooperate, a trustworthy company!
By Liz
from
Benin
-
2017.03.07 13:42
