– AAA Lendings Second Loan – AAA Lendings Detail:
Overview
Standalone & Piggyback.
Second Loan Only is acceptable.
* Subject property should have a first mortgage.
Program Highlights
15 Years Term.
Other term options（5 yrs, 10yrs, 20yrs, 30yrs).
1) No Prepayment Penalty;
2) 1 Unit & Up to 85% CLTV;
3) Min. FICO 680;
4) Max. Loan Amount $250,000;
5) Primary & Second home are eligible.
Credit Guideline
(1) If there are past due unpaid Federal income taxes, the borrower should provide installment agreement with the IRS, payment history showing at least 1 payment being made, and include the monthly payment in the borrower’s debt obligations. Proof of income tax payment may be required to verify there are no past due taxes.
(2) Tax liens must be paid off at or before closing.
(3) No mortgage delinquency (0×30) in the last 24 months.
(4) For any mortgage forbearance or payment deferral agreements that occurred during the COVID-19 pandemic time period, borrower(s) must have made at least 6 consecutive separate on-time monthly housing payments and at least 6 months must have elapsed since the forbearance/deferment arrangement ended.
(5) Borrower(s) must be current on all mortgage debt.
(6) No judgements, repossessions or charge offs in the past 60 months.
(7) The following are considered severe delinquency, regardless of AUS feedback; borrowers with these profiles are ineligible until a period of 7 years has passed since occurrence and credit has been re-established:
①Bankruptcy
②Foreclosure / Deed in Lieu of Foreclosure
③Short Sale or Short Payoff
④Mortgage modification, forbearance or deferment (excluding COVID-19 related)
General Guideline
(1) Max. DTI 43%.
(2) Qualifying rate is qualified at initial note rate.
(3) Assets/Funds to Close/Reserves follows first lien requirements.
(4) Title may not be held in the name of a trust.
(5) POAs are permitted for all transaction types but must cover the 2nd lien transaction if utilized.
(6) Leasehold is not eligible.
(7) No Prepayment Peanlty but require that any loans can be paid off or make principal curtailments in excess of 20% of the balance after 180 days of the funding date.
(8) AAA LENDINGS will not do HPML Ballons (APR > 15 Years Fixed APOR +3.5%).
Product detail pictures:
Related Product Guide:
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 Second Loan – AAA Lendings , The product will supply to all over the world, such as: Yemen , Belize , Adelaide , Strong infrastructure is the need of any organization. We are backed with a robust infrastructural facility that enables us to manufacture, store, quality check and dispatch our products worldwide. To maintain smooth work flow, we have sectioned our infrastructure into a number of departments. All these departments are functional with latest tools, modernized machines and equipment. Owing to which, we are able to accomplish voluminous production without compromising upon the quality.
By Phoebe
from
venezuela
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2017.06.29 18:55
Although we are a small company, we are also respected. Reliable quality, sincere service and good credit, we are honored to be able to work with you!
By Quyen Staten
from
Czech Republic
-
2017.03.07 13:42
