– AAA Lendings HELOC – AAA Lendings Detail:
Overview
Standalone & Piggyback.
The HELOC program is Home Equity Line Of Credit.
Index + Margin. 30 Years term, 10 Yrs I/O Draw Period followed by 20 Years Amortization.
* Index: Prime Mortgage Rate floated with the market.
Margin: Subject to loan scenarios, Margin Min. 1%, Fixed.
Lifetime Max Rate: 18%.
Lifetime Rate Floor: 2.5%.
Program Highlights
1) No Prepayment Penalty;
2) No Annual Fee;
3) Primary & Second home are eligible;
4) Max. HCLTV 85%;
5) Max. Loan Amount $350,000;
6) Min. FICO 680.
Income Guideline
★Piggybacks follow first lien requirements.
★Standalones: Most recent one month paystub + most recent year W2.
★Tax transcripts are required when using tax returns for qualifying purposes.
General Guideline
The source of Prime Mortgage Rate link: https://www.wsj.com/market-data/bonds/moneyrates
★Max origination charge is “Max Point & Fee 5%”.
★$1.5m Max Combined Liens.
★Lifetime Max Rate: 18% or state maximum and lifetime rate floor 2.5%.
★Buy-up is ineligible .
★Buy-down ratio:1:3 (0.125 decreased on rate, 0.375 cost to price. max buy-down 1.000% in
rate.)
★Second Home Purchase Transaction Ineligible currently
(1)Max DTI 43% for loan Limit <= $250,000| 34% for loan Limit > $250,000
(2) Note Rate + 2% P&I over 30 year amortization as the qualifying rate.
(3)Assets/Funds to Close/Reserves:
★Piggybacks: follow first lien requirements.
★Standalones: no asset verification is required if borrower is receiving cash-out (otherwise provide at least one month liquid asset statements showing sufficient funds to close)
(4)Mortgage late:0x30x24
Product detail pictures:
Related Product Guide:
AAA LENDINGS is not just a lender; we are your financial partner. We take the time to listen to your financial goals and aspirations, offering guidance beyond the application process. Our commitment to your financial well-being extends far beyond closing the deal, and we are dedicated to helping you achieve your long-term objectives, whether that's homeownership, real estate investment, or debt consolidation. – AAA Lendings HELOC – AAA Lendings , The product will supply to all over the world, such as: Philippines , Mali , Tunisia , We sincerely hope to cooperate with customers all over the world, if you would like to have more information, please kindly contact us, we are looking forward to building up a great business relationship with you.
By Mike
from
Czech Republic
-
2018.09.23 18:44
The factory has advanced equipment, experienced staffs and good management level, so product quality had assurance, this cooperation is very relaxed and happy!
By Page
from
Iran
-
2018.09.08 17:09
