– AAA Lendings Salary Borrower Non-QM Program – WVOE (Written Verification of Employment) – AAA Lendings Detail:
Overview
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(Not PITIA other lender required);
3) No paystub / W-2 / tax return needed;
4) Gift funds allowed;
5) Loan amount up to $2.5M;
6) Down payment as lower as 30%;
7) Min. FICO 680.
What’s the program?
Did you have ever meet 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?
We AAA Lendings offer you a perfect Non-QM program– WVOE(Written Verification of Employment). If the 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.
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, biweekly, 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
What’s the benefits?
For this program, the lender only need a WVOE form to calculate qualified income, no any other income documents needed. This should be most the most attractive key point of this program. No any agency loans can do such program. Besides, different from other programs, this program doesn’t need applicants’ too much assets. In general, this is a good program for salaried borrowers who can not do agency loans.
How to calculate?
- Use the base salary (semi-monthly, bi-weekly, or hourly rate as supported by YTD) from WVOE.
Examples:
◦ Semi-monthly: Semi-monthly amount multiplied by 2 equals monthly income.
◦ Bi-weekly: Bi-weekly amount multiplied by 26 divided by 12 equals monthly income.
◦ Teacher paid for 9 months: Monthly amount multiplied by 9 months divided by 12 months
equals monthly qualifying income.
Reminder the employer to complete the WVOE form, then lender will proceed with the loan fast.
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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 Salary Borrower Non-QM Program – WVOE (Written Verification of Employment) – AAA Lendings , The product will supply to all over the world, such as: Salt Lake City , Slovakia , New Zealand , So that you can utilize the resource from the expanding info in international trade, we welcome shoppers from everywhere on-line and offline. In spite of the good quality solutions we provide, effective and satisfying consultation service is supplied by our professional after-sale service team. Product lists and detailed parameters and any other info weil be sent to you timely for your inquiries. So you should make contact with us by sending us emails or call us if you have any questions about our corporation. ou may also get our address info from our web page and come to our company to get a field survey of our merchandise. We've been confident that we have been going to share mutual achievement and create strong co-operation relations with our companions in this marketplace. We're searching forward for your inquiries.
By Lauren
from
Florida
-
2018.11.11 19:52
As an international trading company, we have numerous partners, but about your company, I just want to say, you are really good, wide range, good quality, reasonable prices, warm and thoughtful service, advanced technology and equipment and workers have professional training, feedback and product update is timely, in short, this is a very pleasant cooperation, and we look forward to the next cooperation!
By Alexia
from
Croatia
-
2017.09.30 16:36
