– 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:
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. – AAA Lendings Second Loan – AAA Lendings , The product will supply to all over the world, such as: Colombia , San Diego , Albania , If you give us a list of merchandise you are interested in, along with makes and models, we can send you quotations. Remember to email us directly. Our goal is to establish long-term and mutually profitable business relationships with domestic and overseas clients. We look forward to receiving your reply soon.
By Odelette
from
Tunisia
-
2018.12.30 10:21
Timely delivery, strict implementation of the contract provisions of the goods, encountered special circumstances, but also actively cooperate, a trustworthy company!
By Leona
from
San Diego
-
2018.06.18 17:25
