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For many of our clients, a mortgage is more than just a financial transaction; it's a significant life milestone. Whether you're a first-time homebuyer or a seasoned real estate investor, we approach each application with the care and attention it deserves. We take the time to understand your goals and aspirations, ensuring that your mortgage aligns with your vision for your future. Best Mortgage Rate , Mortgage Lender Texas , Full Docs , At AAA LENDINGS, we operate under the firm belief that 'No Loan is impossible.' This belief is the driving force behind our operations and is embodied in our motto, Able to Assist, Always. It encapsulates the true essence of our AAA brand. We recognize that different customers and diverse lending scenarios require unique solutions, and we are fully prepared to offer them.
– AAA Lendings Non-QM Non-DTI ratio Program – Asset Depletion (Asset Only) – AAA Lendings Detail:

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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 should be aware of below limitations. Several types assets cannot 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:

– AAA Lendings Non-QM Non-DTI ratio Program – Asset Depletion (Asset Only) – AAA Lendings detail pictures


Related Product Guide:

In the world of mortgage lending, accessibility is key. Our digital mortgage platform is designed with your convenience in mind. You can apply for a mortgage, upload documents, and track your loan progress online, all from the comfort of your home. We've created an engaging digital experience that puts you in control, ensuring that you can manage your mortgage application at your own pace, 24/7. – 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: Greece , United States , Peru , we are sincerely hope to establish one good long term business relationship with your esteemed company thought this opportunity, based on equal, mutual beneficial and win win business from now till the future.
  • The company's products can meet our diverse needs, and the price is cheap, the most important is that the quality is also very nice.
    5 Stars By EliecerJimenez from Maldives - 2017.10.13 10:47
    The sales manager is very patient, we communicated about three days before we decided to cooperate, finally, we are very satisfied with this cooperation!
    5 Stars By Nancy from Cologne - 2017.04.18 16:45