– 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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Related Product Guide:
The dream of homeownership isn't limited to traditional homebuyers. At AAA LENDINGS, we have specialized programs to cater to non-traditional borrowers. If you're self-employed, have a fluctuating income, or face unique financial circumstances, our loan options can capture your interest. We embrace diversity in borrowers and actively seek out innovative lending solutions, ensuring that your journey to homeownership remains engaging, regardless of your financial situation. – 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: Sydney, London, Guatemala, When you are keen on any of our goods following you view our product list, be sure to feel free to make contact with us for inquiries. You'll be able to send us emails and get in touch with us for consultation and we shall respond to you as soon as we're able to. If it's convenient, you could find out our address in our web site and come to our enterprise. or additional information of our products by yourself. We're generally ready to build lengthy and steady co-operation relations with any possible shoppers within the associated fields.
By Daisy from
Kuwait -
2017.04.18 16:45
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 Quintina from
Mexico -
2017.05.21 12:31
