– AAA Lendings Non-QM Easily Qualified Asset only option – ATR-In-Full – AAA Lendings Detail:
Overview
Popular asset program. Borrower has certain amount of money, which can cover the purchase price or loan amount and closing cost. No employment info; No DTI.
Details
1) Up to 75% LTV;
2) Up to $4M loan amount;
3) Primary residence only;
4) No limits on number of properties financed;
5) At least 6-month reserves from borrower’s own funds.
What’s this program?
The ATR-In-Full program is also a asset program, which is qualified with asset only. A good choice of Non-QM loans.
AAA Lendings will not calculate a DTI for applicants who qualify by proving Assets only (“ATR-In-Full”). Mechanically, any income or employment listed on an application will be deemed superfluous to the underwrite and, as the alternate, may be left blank. Should the employment and income be represented on an application, a DTI should not be calculated
How do you know if you can qualified asset for this program?
Below are the methods of calculation:
For purchase loan，the total allowable assets must match the purchase price plus any and all closing costs.
Assets >= Purchase price + all closing cost
For refinance loan，the total allowable assets must match the full loan amount plus closing costs.
Assets >= Loan amount + closing cost
See below scenarios qualification, you can refer to the calculation methods to see if you can qualify first before applying loans with lenders:
Scenario 1: Purchase price plus closing costs = $768,500. Available assets = $700,000 (savings) plus $45,000 (50% of IRA) = $748,000. Short by $20,500. If the borrower is 59.5 or older, qualifying assets would be $700,000 + $54,000 (60% of IRA) = $754,000 and short by $14,500.
Scenario 2: Loan amount plus closing costs = $518,500. Available assets = $370,000 (savings) + $100,000 (50% of IRA) = $470,000. Short by $48,500. If 59.5 or older, qualifying assets = $370,000 + $120,000 (60% of IRA) = $490,000 and short by $28,500.
What’s the eligible asset for this program？
Cash, stocks, bonds and personal liquid assets ( no property ) = 100%
Retirement accounts = 50% if 59 or younger and 60% if older
No business funds
What’s the benefits?
Min. 6 month Reserves
Product detail pictures:
Related Product Guide:
Transparency is at the core of our operations. We take pride in our open and honest communication with our clients. No hidden fees, no surprises. We provide clear, straightforward information about your mortgage options, ensuring you have all the facts to make informed decisions. Our goal is to build trust with our clients by being forthright and transparent, making your home financing experience as smooth as possible. – AAA Lendings Non-QM Easily Qualified Asset only option – ATR-In-Full – AAA Lendings , The product will supply to all over the world, such as: Seattle, Romania, Kuwait, With the development and enlargement of mass clients abroad, now we have set up cooperative relationships with many major brands. We have our own factory and also have many reliable and well-cooperated factories in the field. Adhering to the quality first, customer first, We are provideing high-quality, low-cost products and first-class service to customers. We sincerely hope to establish business relationship with customers from all over the world on the basis of quality, mutually benefit. We welcome OEM projects and designs.
By Honorio from
Hanover -
2018.10.01 14:14
The company account manager has a wealth of industry knowledge and experience, he could provide appropriate program according our needs and speak English fluently.
By Diana from
Canberra -
2017.11.29 11:09
