– AAA Lendings Non-QM Non-DTI ratio Program – Asset Depletion (Asset Only) – AAA Lendings Detail:
Overview
Not all borrowers fit neatly into the boxes required by traditional lenders. Some borrowers are investors, self-employed, entrepreneurs, retired, or simply living off their investments. They are financially responsible people, but they might not have sources of income that are easily quantifiable.
AAA LENDINGS Mortgage’s Asset depletion programs allow these kinds of borrowers to use their personal and business assets as a means to qualify for a home mortgage.
Program Highlights
1) Up to $2.5M loan amount;
2) Up to 80% LTV;
3) DTI ratio is 50%;
4) Cash-out is acceptable;
5) Employment information is not required on loan application;
What is Asset Depletion？
• Is your job or income failed to qualify a mortgage loan?
• Do you have enough assets in you account?
• Did you just sell one property and want to buy another house?
• Don’t you want to provide varieties of income documentations?
• Do you wonder how the lenders approve your loan without considering DTI ratio?
Asset Depletion/ Utilization helps these applicants when you’re in these situations. It’s a general Non-QM program, also named “asset only”. Borrowers don’t need to provide any employment information or income documents when they apply for Asset Depletion.
It may be used as the sole source of income for loan qualification or to supplement other income sources. The minimum asset requirements under qualification method are waived when used to supplement other income sources, .
The Benefits of Asset Depletion
1) No need to provide any income documents;
2) Primary Only;
3) Less documents;
4) Easy to qualify.
Asset Requirements
Assets must be liquid and available with no penalty; additional documents may be requested to validate the origin of the funds:
• 100% of Checking, Savings, and Money Market Accounts;
• 70% of Stocks, Bonds, and Mutual Funds;
• 70% of Retirement Assets: Eligible if the borrower is of retirement age (at least 59 ½);
• 60% of Retirement Assets: Eligible if the borrower is not of retirement age.
Ineligible Assets
For this program, borrowers may take care of below limitations. Several types assets can not be used:
• Equity in Real Estate;
• Privately traded or restricted/non-vested stocks;
• Any assets which produce income already included in the income calculation:
• Any assets held in the name of a business.
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Related Product Guide:
While many lenders have limited their scope, we continue to expand our presence across various states, serving borrowers in 45 states, including some of the most dynamic markets like California and Texas. Our expansive reach allows us to understand and adapt to regional nuances, ensuring that our clients in different states receive localized support while still benefiting from our nationwide expertise. – AAA Lendings Non-QM Non-DTI ratio Program – Asset Depletion (Asset Only) – AAA Lendings , The product will supply to all over the world, such as: Slovakia , United Arab emirates , Afghanistan , With the development and enlargement of mass clients abroad, now we have set up cooperative relationships with many major brands. We have our own factory and also have many reliable and well-cooperated factories in the field. Adhering to the quality first, customer first, We are provideing high-quality, low-cost products and first-class service to customers. We sincerely hope to establish business relationship with customers from all over the world on the basis of quality, mutually benefit. We welcome OEM projects and designs.
By Louis
from
Qatar
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2017.11.11 11:41
Although we are a small company, we are also respected. Reliable quality, sincere service and good credit, we are honored to be able to work with you!
By Helen
from
Dubai
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2018.06.19 10:42
