– 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 the program？
• Is your job or income failed to qualify a mortgage loan?
• Do you have enough assets in you account?
• Do you just sold 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 this situation. It’s general Non-QM program, also named “asset only”. You don’t need to provide any employment information and income documents when apply for this program.
It may be used as the sole source of income for loan qualification or to supplement other income sources. When used to supplement other income sources, the minimum asset requirements under qualification method are waived.
What’s the benefit?
1) No need to provide any income documents;
2) Primary house only;
3) Reduced documents
4) Easy to qualify
What assets can be used for this program?
Assets must be liquid and available with no penalty; additional documentation 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.
Assets ineligible for depletion
For this program, you may take care of below limitations. Several kinds of types can not be used even though you can use these assets by yourself:
• Equity in Real Estate;
• Privately traded or restricted/non-vested stocks;
• Any asset which produces income already included in the income calculation:
• Any assets held in the name of a business.
Product detail pictures:
Related Product Guide:
The dream of homeownership isn't limited to traditional homebuyers. At AAA LENDINGS, we have specialized programs to cater to non-traditional borrowers. If you're self-employed, have a fluctuating income, or face unique financial circumstances, our loan options can capture your interest. We embrace diversity in borrowers and actively seek out innovative lending solutions, ensuring that your journey to homeownership remains engaging, regardless of your financial situation. – 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: Austria , Pakistan , Singapore , We take measure at any price to attain essentially the most up-to-date gear and procedures. The packing of nominated brand is our a further distinguishing feature. The solutions to assure years of trouble-free service has attracted a great deal customers. The goods are obtainable in improved designs and richer variety, they're produced scientifically of purely raw supplies. It accessible in a variety of designs and specifications for the selection. The newest forms are much far better than the previous one and they're extremely popular with several clients.
By Marco
from
Islamabad
-
2018.06.18 17:25
We are really happy to find such a manufacturer that ensuring product quality at the same time the price is very cheap.
By Marina
from
Serbia
-
2018.09.16 11:31
