– 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.
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 Non-DTI ratio Program – Asset Depletion (Asset Only) – AAA Lendings , The product will supply to all over the world, such as: Greek , Salt Lake City , Bulgaria , Each product is carefully made, it will make you satisfied. Our merchandise in the production process have got strictly monitored, because it is only to supply you the best quality, we'll feel confident. High production costs but low prices for our long-term cooperation. You can have a variety choices and the value of all types are same reliable. If you have any question, do not hesitate to ask us.
By Ina
from
UK
-
2017.02.18 15:54
This company has a lot of ready-made options to choose and also could custom new program according to our demand, which is very nice to meet our needs.
By Elizabeth
from
Borussia Dortmund
-
2018.12.11 14:13
