– AAA Lendings Non-QM Self-employed borrower program – P&L(Self Prepared Profit & Loss Only) – AAA Lendings Detail:
Overview
Self-employed borrowers only, who can not go with agency mortgage loans, and do not want to provide varities of income documents.
Details
1) No CPA signature needed;
2) Foreign national allowed;
3) Loan amount up to $10M;
4) 12 months reserves calculated on PI(Not PITIA other lender required);
5) No tax returns needed;
6) Gift funds allowed;
7) Down payment as lower as 30%;
8) Min. FICO 680.
What’s this program? Who can apply for this program?
• Are you a self-employed borrower?
• Did the lender require your business bank statements to get loan qualified? Or did your mortgage lenders require you to sign the tax returns and need transcripts?
• Have you ever been suspended or denied by the agency lenders? Did the lenders ever say “Per our guideline”
• Do you know how you can qualify a house loan without any income documents? Even though tax returns/business bank statements, etc.
We AAA Lendings now offer an appropriate Non-QM loan program used in the above situations, which is named P&L (Profit & Loss). This program is designed for borrowers who are self-employed and would benefit from alternative loan qualification methods. That’s the best benefit for self-employers. A CPA/CTEC/EA completed and signed P&L may be used as an alternative to tax returns to document a self-employed borrower’s income. Sometime, we even accept borrower prepared P&L, which is also a good benefit for some borrowers.
Why does this program designed?
For self-employed borrowers, 12/ 24 months bank statement program is a better choice, since this program doesn’t need tax returns and business bank statements neither. However, when some applicants owns a business, which has complicated financial situation with multiple bank statements, the P&L program may be the best choice for you. Since 12/ 24 months bank statement program has limitation about the demand of bank statements; maybe max. Three bank statement accounts for one business, that may be the restriction which leads to P&L program.
What do you need to prepare for fast approve？
When you submit the loan to the lenders, they may need a YTD(Year-to-Date) P&L (or plus a prior year P&L sometimes), business license, CPA letter, etc. So either way is OK for what provide at initial submission or when loan approval.
Besides, you need to check with our submission team to calculate income first
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AAA LENDINGS takes pride in our community involvement and social responsibility. We believe that being a responsible lender means giving back to the communities we serve. Our team actively participates in charitable initiatives, supporting local causes, and promoting financial literacy. We're not just in the business of providing loans; we're invested in making a positive impact on the lives of our clients and the communities they call home. – AAA Lendings Non-QM Self-employed borrower program – P&L(Self Prepared Profit & Loss Only) – AAA Lendings , The product will supply to all over the world, such as: Jersey, Japan, Amman, Good quality, Good service is always our tenet and credo. We take every effort to control the quality, package, labels etc and our QC will check every detail during producing and before shipment. We have been willing to establish long business relationship with all those who seek the high quality products and good service. We've got set up a wide sales network across European countries, North of America, South of America, Middle East, Africa, East Asia countries.Please contact us now, you will find our expert experience and high quality grades will contribute to your business.
By Queena from
Sao Paulo -
2017.07.28 15:46
We are long-term partners, there is no disappointment every time, we hope to maintain this friendship later!
By trameka milhouse from
Guyana -
2018.05.22 12:13
