– AAA Lendings Second Loan – AAA Lendings Detail:
Overview
Standalone Second Loan.
Second Loan Only is acceptable.
15 Years Term.
Other term options（5 yrs, 10yrs, 20yrs, 30yrs).
* Subject property should have a first mortgage.
* AZ, CA, CO, FL, GA, IL, MD, MI, MN, OH, OR, PA, SC, VA, WA are available.
Details
1) No Prepayment Penalty;
2) 1 Unit & Up to 90% CLTV;
3) Min. FICO 680;
4) Max. Loan amount $250,000;
5) Primary & Second home are eligible;
6) Piggyback’s available.
Credit Guideline
(1) If there are past due unpaid Federal income taxes, provide installment agreement with the IRS, payment history showing at least 1 payment being made, and include the monthly payment in the borrower’s debt obligations. Proof of income tax payment may be required to verify there are no past due taxes.
(2) Tax liens must be paid off at or before closing.
(3) No mortgage delinquency (0×30) in the last 24 months.
(4) For any mortgage forbearance or payment deferral agreements that occurred during the COVID-19 pandemic time period, borrower(s) must have made at least 6 consecutive separate on-time monthly housing payments and at least 6 months must have elapsed since the forbearance/deferment arrangement ended.
(5) Borrower(s) must be current on all mortgage debt.
(6) No judgements, repossessions or charge offs in the past 60 months.
(7) The following are considered severe delinquency, regardless of AUS feedback; borrowers with these profiles are ineligible until a period of 7 years has passed since occurrence and credit has been re-established:
①Bankruptcy
②Foreclosure / Deed in Lieu of Foreclosure
③Short Sale or Short Payoff
④Mortgage modification, forbearance or deferment (excluding COVID-19 related)
General Guideline
(1) Max. DTI 43.000%.
(2) Qualifying rate is qualified at initial note rate.
(3) Assets/Funds to Close/Reserves follows first lien requirements.
(4) Title may not be held in the name of a trust.
(5) POAs are permitted for all transaction types but must cover the 2nd lien transaction if utilized.
(6) Leasehold is not eligible.
(7) No Prepayment Peanlty but require that any loans can be paid off or make principal curtailments in excess of 20% of the balance after 180 days of the funding date.
(8) AAA LENDINGS will not do HPML Ballons (APR > 15 Years Fixed APOR +3.5%).
Product detail pictures:
Related Product Guide:
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 Second Loan – AAA Lendings , The product will supply to all over the world, such as: Bangkok , Buenos Aires , Armenia , Our products are exported worldwide. Our customers are always satisfied with our reliable quality, customer-oriented services and competitive prices. Our mission is to continue to earn your loyalty by dedicating our efforts to the constant improvement of our products and services in order to ensure the satisfaction of our end-users, customers, employees, suppliers and the worldwide communities in which we cooperate.
By Margaret
from
Zambia
-
2017.11.12 12:31
We are a small company that has just started, but we get the company leader's attention and gave us a lot of help. Hope we can make progress together!
By Norma
from
Niger
-
2018.04.25 16:46
