– 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
Product detail pictures:
Related Product Guide:
Customer education is a cornerstone of AAA LENDINGS' mission. We believe that an informed borrower is an empowered borrower. That's why we go the extra mile to provide educational resources and guidance to help you navigate the complexities of the mortgage process. Our team is dedicated to answering your questions, explaining the intricacies of interest rates, loan options, and more, ensuring that you make well-informed decisions. Your financial literacy and confidence matter 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: Hanover , Burundi , Adelaide , Please really feel free to send us your requirements and we'll respond to you asap. We have got a professional engineering group to serve for your just about every detailed needs. Cost-free samples could be sent for you personally to understand much more information. In an effort to meet your requires, please really feel free to make contact with us. You may send us emails and contact us directly. Moreover, we welcome visits to our factory from around the globe for much better recognizing of our organization. nd items. In our trade with merchants of numerous countries, we usually adhere for the principle of equality and mutual benefit. It is actually our hope to market, by joint efforts, each trade and friendship to our mutual advantage. We look forward to getting your inquiries.
By Lauren
from
Croatia
-
2018.11.02 11:11
The customer service staff's attitude is very sincere and the reply is timely and very detailed, this is very helpful for our deal,thank you.
By Ryan
from
venezuela
-
2017.08.15 12:36
