Wholesale - AAA Lendings Enhanced R series – Elite True Stated Income – AAA Lendings lender and investor

Product Detail

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. Conventional Loan Vs Va Loan , Adjustable Vs Fixed Rate , Conventional Loan Mortgage , At AAA LENDINGS, we're your partner for the long term. Our post-closing services are designed to keep you engaged even after your mortgage is secured. We offer ongoing resources, such as home maintenance tips, investment guidance, and periodic mortgage check-ins to ensure your financial goals are on track. Our relationship with you doesn't end at closing; it's an enduring commitment to your financial well-being.

– AAA Lendings Enhanced R series – Elite True Stated Income – AAA Lendings Detail:

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Overview

Use Borrower’s 6 months deposits of monthly income to support the stated income in 1003.

* Foreign National or Cash Out is Not Available

Program Highlights

7/6 ARM (5/1/5); 5/6 ARM (2/1/5)

1) No P&L Needed;
2) No WVOE Needed;
3) No Tax Returns Needed;
4) No 4506-T Needed;
5) Gift funds allowed;
6) Loan amount up to $2.5M;
7) Purchase & R/T Refinance are available.

What is Elite True Stated Income?

• Do you know how to use assets only to qualify for your house mortgage loan?
• Were you suspended or denied by the lender for a WVOE (Written Verification of Employment) program?
• Has it been difficult to obtain WVOE form from your employer?

The program is designed for salaried borrowers and self-employed borrowers.

How does Elite True Stated Income work?

Just like what the product name, this program is qualified with asset as well. See below:

· Stated Income means the borrower states their REASONABLE current income in the 1003

(Application).

· We verify that their monthly income can be SUPPORTED by the liquid assets pre-closing.

Calculation:

Assets / 6 must be greater than Stated Income

· Medical Doctor who has $300,000 in assets and 1003 income of $20,000 a month?
Yes, this scenario is eligible. $300,000 / 6 = $50,000 which is greater than $20,000 monthly income listed on the application. We use $20,000 for qualification.

· Wage Earning Masseuse who has $100,000 in assets and stated income of $15,000 a month?
No, this scenario is not eligible. Although $100,000 / 6 = $16,666 > $15,000 which is the monthly income stated. It is not reasonable for a wage earning masseuse to make $15,000 a month.

· Self-employed Import/Export Entrepreneur with $500,000 in assets and stated income of $100,000 a month?
Yes, this scenario is eligible. $500,000 / 6 = $83,333 & borrower states $100,000 a month. However only $83,333 is used for qualification purposes.

If we choose the Elite True Stated Income, the borrower will only be required to provide an Asset Based Income on the Loan Application (1003). This income will be utilized to calculate qualifying debt to income ratio.

Who can apply for Elite True Stated Income?

Whether you are salaried borrowers who have difficulties with WVOE programs or self-employed borrowers who do not have enough income shown on the tax returns, this is the program for you. For salaried borrowers, no additional documents are required. For self-employed or 1099 borrowers, a CPA verification letter is required.

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Navigating the mortgage landscape can be complicated, but AAA LENDINGS simplifies the process, making it engaging and stress-free. We offer a clear and concise document collection system, allowing you to easily upload the required paperwork online. We are keenly aware that your time is valuable, and by making the process smoother, we keep you actively engaged and in control of your mortgage journey. – AAA Lendings Enhanced R series – Elite True Stated Income – AAA Lendings , The product will supply to all over the world, such as: Mombasa , Philadelphia , Mali , Our factory is equipped with complete facility in 10000 square meters, which makes us be able to satisfy the producing and sales for most auto part products. Our advantage is full category, high quality and competitive price! Based on that, our products win a high admiration both at home and abroad.

-AAA Lendings