– AAA Lendings Second Loan – AAA Lendings Detail:
Overview
Standalone Second Loan.
Second Loan Only is acceptable.
15 Years Term.
Other term options（5 yrs, 10yrs, 20yrs, 30yrs).
* Subject property should have a first mortgage.
* AZ, CA, CO, FL, GA, IL, MD, MI, MN, OH, OR, PA, SC, VA, WA are available.
Details
1) No Prepayment Penalty;
2) 1 Unit & Up to 90% CLTV;
3) Min. FICO 680;
4) Max. Loan amount $250,000;
5) Primary & Second home are eligible;
6) Piggyback’s available.
Credit Guideline
(1) If there are past due unpaid Federal income taxes, 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 43.000%.
(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:
While many lenders have limited their scope, we continue to expand our presence across various states, serving borrowers in 45 states, including some of the most dynamic markets like California and Texas. Our expansive reach allows us to understand and adapt to regional nuances, ensuring that our clients in different states receive localized support while still benefiting from our nationwide expertise. – AAA Lendings Second Loan – AAA Lendings , The product will supply to all over the world, such as: Ghana , Tunisia , Azerbaijan , With well educated, innovative and energetic staff, we are responsible for all elements of research, design, manufacture, sale and distribution. By studying and developing new techniques, we are not only following but also leading fashion industry. We listen attentively to the feedback from our customers and provide instant replies. You will instantly feel our professional and attentive service.
By Ella
from
Borussia Dortmund
-
2018.12.28 15:18
High production efficiency and good product quality, fast delivery and completed after-sale protection, a right choice, a best choice.
By Brook
from
Spain
-
2017.05.02 18:28
