– AAA Lendings Non-QM Self-employed borrower program – P&L(Self Prepared Profit & Loss Only) – AAA Lendings Detail:
Overview
Self-employed borrowers only, who can not go with agency mortgage loans, and do not want to provide varities of income documents.
Details
1) No CPA signature needed;
2) Foreign national allowed;
3) Loan amount up to $10M;
4) 12 months reserves calculated on PI(Not PITIA other lender required);
5) No tax returns needed;
6) Gift funds allowed;
7) Down payment as lower as 30%;
8) Min. FICO 680.
What’s this program? Who can apply for this program?
• Are you a self-employed borrower?
• Did the lender require your business bank statements to get loan qualified? Or did your mortgage lenders require you to sign the tax returns and need transcripts?
• Have you ever been suspended or denied by the agency lenders? Did the lenders ever say “Per our guideline”
• Do you know how you can qualify a house loan without any income documents? Even though tax returns/business bank statements, etc.
We AAA Lendings now offer an appropriate Non-QM loan program used in the above situations, which is named P&L (Profit & Loss). This program is designed for borrowers who are self-employed and would benefit from alternative loan qualification methods. That’s the best benefit for self-employers. A CPA/CTEC/EA completed and signed P&L may be used as an alternative to tax returns to document a self-employed borrower’s income. Sometime, we even accept borrower prepared P&L, which is also a good benefit for some borrowers.
Why does this program designed?
For self-employed borrowers, 12/ 24 months bank statement program is a better choice, since this program doesn’t need tax returns and business bank statements neither. However, when some applicants owns a business, which has complicated financial situation with multiple bank statements, the P&L program may be the best choice for you. Since 12/ 24 months bank statement program has limitation about the demand of bank statements; maybe max. Three bank statement accounts for one business, that may be the restriction which leads to P&L program.
What do you need to prepare for fast approve？
When you submit the loan to the lenders, they may need a YTD(Year-to-Date) P&L (or plus a prior year P&L sometimes), business license, CPA letter, etc. So either way is OK for what provide at initial submission or when loan approval.
Besides, you need to check with our submission team to calculate income first
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Our commitment to excellence and dedication to our customers have propelled us to expand our operations across 45 states, including Arizona, California, Washington D.C., Florida, Nevada, and Texas, among others. However, our success isn't solely defined by numbers. The countless positive reviews and strong word-of-mouth reputation we've garnered serve as a testament to the trust and confidence the market has placed in us. – AAA Lendings Non-QM Self-employed borrower program – P&L(Self Prepared Profit & Loss Only) – AAA Lendings , The product will supply to all over the world, such as: luzern , Saudi Arabia , Guyana , Our company's main products are widely used all over the world; 80% of our products exported to the United States, Japan, Europe and other markets. All stuff sincerely welcome guests come to visit our factory.
By Gustave
from
Atlanta
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2018.09.19 18:37
The company keeps to the operation concept scientific management, high quality and efficiency primacy, customer supreme, we have always maintained business cooperation. Work with you,we feel easy!
By Gustave
from
Jakarta
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2017.11.11 11:41
