– AAA Lendings Non-QM Non-DTI ratio Program – Asset Depletion(Asset Only) – AAA Lendings Detail:
Overview
A borrower sold their multi-million dollar business and then found the home of their dreams but had no source of income to document.
Details
1) Up to $2.5M loan amount;
2) Up to 80% LTV;
3) DTI ratio is 50%;
4) Cash-out is accepted;
5) No need employment information in loan application;
6) Asset divide 84 or fixed loan terms to get the borrrower qualified income.
What is the program？
• Is your job or income failed to qualify a mortgage loan?
• Do you have enough assets in you account?
• Do you just sold one property and want to buy another house?
• Don’t you want to provide varieties of income documentations?
• Do you wonder how the lenders approve your loan without considering DTI ratio?
Asset Depletion/ Utilization helps these applicants when you’re in this situation. It’s general Non-QM program, also named “asset only”. You don’t need to provide any employment information and income documents when apply for this program.
It may be used as the sole source of income for loan qualification or to supplement other income sources. When used to supplement other income sources, the minimum asset requirements under qualification method are waived.
What’s the benefit?
1) No need to provide any income documents;
2) Primary house only;
3) Reduced documents
4) Easy to qualify
What assets can be used for this program?
Assets must be liquid and available with no penalty; additional documentation may be requested to validate the origin of the funds:
• 100% of Checking, Savings, and Money Market Accounts;
• 70% of Stocks, Bonds, and Mutual Funds;
• 70% of Retirement Assets: Eligible if the borrower is of retirement age (at least 59 ½);
• 60% of Retirement Assets: Eligible if the borrower is not of retirement age.
Assets ineligible for depletion
For this program, you may take care of below limitations. Several kinds of types can not be used even though you can use these assets by yourself:
• Equity in Real Estate;
• Privately traded or restricted/non-vested stocks;
• Any asset which produces income already included in the income calculation:
• Any assets held in the name of a business.
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 Non-QM Non-DTI ratio Program – Asset Depletion(Asset Only) – AAA Lendings , The product will supply to all over the world, such as: Lisbon, Los Angeles, panama, They're durable modeling and promoting effectively all over the world. Under no circumstances disappearing major functions in a quick time, it's a should for you of excellent good quality. Guided by the principle of Prudence, Efficiency, Union and Innovation. the company make a terrific efforts to expand its international trade, raise its company profit and raise its export scale. We're confident that we are going to possess a vibrant prospect and to be distributed all over the world within the years to come.
By Mandy from
Uganda -
2017.03.28 16:34
The customer service staff is very patient and has a positive and progressive attitude to our interest, so that we can have a comprehensive understanding of the product and finally we reached an agreement, thanks!
By Olga from
Madagascar -
2017.03.28 16:34
