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Innovation is part of our DNA. We continuously seek ways to enhance the mortgage experience for our clients. Our state-of-the-art online application process, secure document management, and digital communication options offer a seamless, paperless mortgage journey. With AAA LENDINGS, you can expect a modern, efficient, and secure mortgage lending experience that keeps up with the fast-paced world of technology. Your convenience and security are paramount to us. Tpo Lender, Georgia Mortgage Broker Or Lender, Wholesale Mortgage, 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:

Your time is precious, and we respect that. At AAA LENDINGS, we're committed to streamlining the mortgage process to save you time and effort. Our online application is user-friendly and designed with your convenience in mind. You can complete the application at your own pace, from the comfort of your home or office. We know you have a busy life, and we aim to make the mortgage process engaging, efficient, and time-saving. – 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: Bulgaria, Roman, Honduras, Why we can do these? Because: A, We are honest and reliable. Our items have high quality, attractive price, sufficient supply capacity and perfect service. B, Our geographical position has a big advantage . C, Various types: Welcome your inquiry, It might be highly appreciated.
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    5 Stars By Antonio from Bulgaria - 2018.09.12 17:18
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