– AAA Lendings Non-QM Non-DTI ratio Program – Asset Depletion (Asset Only) – AAA Lendings Detail:
Overview
A borrower sold their multi-million dollar business and then found the home of their dreams but had no source of income to document.
Details
1) Up to $2.5M loan amount;
2) Up to 80% LTV;
3) DTI ratio is 50%;
4) Cash-out is accepted;
5) No need employment information in loan application;
6) Asset divide 84 or fixed loan terms to get the borrrower qualified income.
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 situation. It’s a general Non-QM program, also named “asset only”. You don’t need to provide any employment information and income documents when 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 Benefit 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, you may take care of below limitations. Several kinds of types 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:
At AAA LENDINGS, we believe in giving back to our valued customers. That's why we offer a loyalty program that rewards you for your trust and ongoing partnership with us. Our loyalty program is designed to keep you engaged and appreciated, offering exclusive benefits and discounts for our returning customers. Your commitment to AAA LENDINGS is recognized and rewarded, and we strive to make your continued interest in our services a rewarding experience. – 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: America , Croatia , Plymouth , By integrating manufacturing with foreign trade sectors, we can present total customer solutions by guaranteeing the delivery of right merchandise to the right place at the right time, which is supported by our abundant experiences, powerful production capability, consistent quality, diversified products and the control of the industry trend as well as our maturity before and after sales services. We'd like to share our ideas with you and welcome your comments and questions.
By Marina
from
Haiti
-
2018.12.14 15:26
The customer service staff is very patient and has a positive and progressive attitude to our interest, so that we can have a comprehensive understanding of the product and finally we reached an agreement, thanks!
By Princess
from
Suriname
-
2018.09.08 17:09
