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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. Do Mortgage Lenders Work On Weekends, Best Lender In California, Better Choice For Brrower, At AAA LENDINGS, we believe that homeownership should be an enjoyable and fulfilling experience. To engage and excite you on this journey, we provide exclusive access to our homeowner's community. Connect with others on the same path, share experiences, and discover valuable insights to make your homeownership journey an engaging and interactive one. Your home is not just a property; it's a community and a lifestyle, and we're here to make that journey more captivating.
– AAA Lendings Non-QM 12 or 24-Month Personal / Business Bank Statements Program – AAA Lendings Detail:

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Overview

Self-employed borrower with excellent credit whose income stated on their tax return won’t qualify them for the luxury home they can afford. Qualify with 100% on Personal Account Deposits and 50% on Business Account Deposits (12 consecutive months).

Program Highlights

1) Up to $3M Loan Amount;
2) Up to 80% LTV;
3) Self-Employed and 1099 Borrowers;
4) 660 or higher Credit Score;
5) No reserves required for LTV at 75% or less;
6) No 4506T / No K1 / No P&L required;
7) No MI (Mortgage Insurance).

Why do we choose Bank Statements?

Even though most home owners can easily qualify with full documentations for a conventional mortgage, many still don’t fit the Fannie and Freddie guidelines when it comes to the lending requirements. Luckily, Non-QM loans and bank statement income documentation are great solutions for these non-traditional borrowers.

Self-employed wage-earners have the luxury to write off many business expenses under the IRS Tax Code. Writing off business expenses from their gross income help the borrowers significantly reduce their tax liabilities, and sometimes it shows an overall loss or negative income for the year. Bank Statement Non-QM Loan will be able to help these borrowers to qualify for a mortgage without showing their tax returns and use their bank statements to show the true cashflow of their business.

Who is this program designed for?

This program is designed for borrowers who are self-employed and would benefit from alternative loan qualification methods. Bank statements may be used as an alternative to tax returns to document a self-employed borrower’s income. Besides, personal and/or business bank statements are all allowed.

At least one of the borrowers must be self-employed for at least 2 years (with 25% or greater ownership) to qualify for this program. This is a standard requirement to determine if the borrower is a self-employed borrower. In agency loans, we always refer to K-1 or Schedule G; while for Non-QM loans, we always need a CPA letter to verify the actual ownership.

Usually, the lender would calculate the qualifying income by taking the average value of bank statement deposits in 12 or 24 months, then multiple a standard expense factor. That should be the borrower’s qualified income for this program.

As for the expense factor, many Non-QM investors may have a standard ratio like 50%. Though this is also our standard requirement, but if your  CPA can provide a letter with appropriate reasons, we may take considerations for a flexible expense factor due to the nature of the business has minimum expenses.

Please contact our team for a free analysis of the income before submitting the loan for you to better assist your clients.


Product detail pictures:

– AAA Lendings Non-QM 12 or 24-Month Personal / Business Bank Statements Program – AAA Lendings 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 Non-QM 12 or 24-Month Personal / Business Bank Statements Program – AAA Lendings , The product will supply to all over the world, such as: moldova, America, Netherlands, We are looking forward to cooperating closely with you to our mutual benefits and top development. We guaranteed quality, if customers were not satisfied with the products' quality, you can return within 7days with their original states.
  • Perfect services, quality products and competitive prices, we have work many times, every time is delighted, wish continue to maintain!
    5 Stars By Adelaide from Victoria - 2017.09.16 13:44
    Product quality is good, quality assurance system is complete, every link can inquire and solve the problem timely!
    5 Stars By Freda from Latvia - 2017.10.25 15:53