Wholesale - AAA Lendings Salary Borrower Non-QM Program – WVOE (Written Verification of Employment) – AAA Lendings lender and investor

Product Detail

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. Conventional Loan Dti , Price Engine, Closing Costs , We believe in empowering our clients through knowledge. At AAA LENDINGS, we provide a wealth of resources and educational materials to demystify the world of mortgages. From articles and guides on our website to informative webinars, we ensure that you have access to the information you need to make informed decisions about your home financing. Your journey to homeownership should be one of confidence, and we're here to provide the knowledge to make that a reality.

– AAA Lendings Salary Borrower Non-QM Program – WVOE (Written Verification of Employment) – AAA Lendings Detail:

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Overview

For wage earner borrowers only, who can not go with agency mortgage loans, and do not want to provide varities of income documents.

Details

1) Foreign national allowed;
2) 12 months reserves calculated on PI;
3) No paystub / W-2 / tax return needed;
4) Gift funds allowed;
5) Loan amount up to $2.5M;
6) Down payment as low as 30%;
7) Min. FICO 680.

What is WVOE?

Have you ever seen this kind of case?
Did the Lender condition updated paystubs again and again?
Did the lender calculate your income and tell you not qualify with the house mortgage?
Are you hard to find your copies of W2s or paystubs?

Salaried borrowers receive a consistent wage or salary from an employer in return for a service rendered and have no ownership or less than 25% ownership interest in the business. Compensation may be based on an hourly, weekly, bi-weekly, monthly, or semi-monthly basis. If hourly, the number of scheduled hours must be addressed. The income that is verified must be converted into a monthly dollar amount for use on the formal application (FNMA Form 1003). At the discretion of the underwriter, supplementary documentation of income may be requested.

The advantage of WVOE

For WVOE, the lender only need a WVOE form to calculate qualified income, no any other income documents needed. This should be the most attractive key point of WVOE. There is not any agency loans can do such program. Besides, different from other programs, borrowers doesn’t need to provide too many assets documents for this program. In general, this is a good program for salaried borrowers who do not qualify agency loans.

How to calculate the salary?

- Use the base salary (semi-monthly, bi-weekly, or hourly rate as supported by YTD) from WVOE.
Examples:
- Semi-monthly: Semi-monthly salary multiplied by 2 equals monthly income.
- Bi-weekly: Bi-weekly salary multiplied by 26 divided by 12 equals monthly income.
- Teacher paid for 9 months: Monthly salary multiplied by 9 months divided by 12 months equals monthly qualifying income.

Remind the employer to complete the WVOE form, then lender will proceed with the loan faster.

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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 Salary Borrower Non-QM Program – WVOE (Written Verification of Employment) – AAA Lendings , The product will supply to all over the world, such as: Czech Republic , New Orleans , Hanover , The quality of our merchandise is equal to OEM's quality, because our core parts are the same with OEM supplier. The above items have passed professional certification, and we not only can produce OEM-standard items but we also accept Customized Merchandise order.

-AAA Lendings