Wholesale - AAA Lendings Second Loan – AAA Lendings lender and investor

Product Detail

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. Delaying Financing, Social Security Number For Applying Mortgage Loan, Mortgage Broker Vs Bank, What sets us apart is our personalized approach to lending, as opposed to the one-size-fits-all methods employed by many others. We provide tailored solutions for the unique needs of each individual client, firmly believing in the possibility of every loan. With AAA LENDINGS, your financial goals become ours, and together, we make them happen.

– AAA Lendings Second Loan – AAA Lendings Detail:

Title SL

Overview

Second Loan Only is acceptable.

* Subject property should have a first mortgage.
* This Program can be available on AZ,CA,CO,FL,GA,IL,MD,MI,MN,OH,OR,PA,SC,VA,WA.

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 eligible.

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 that the borrower is current, 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 not eligible
(7)No Prepayment Peanlty but require that any loan can be paid off or makes principal curtailments in excess of 20% of the balance after 180 days of funding date.
(8) AAA LENDINGS will not do HPML Ballons (APR > 15 Year Fixed APOR +3.5%)

Product detail pictures:

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 Second Loan – AAA Lendings , The product will supply to all over the world, such as: Jakarta, Honduras, Egypt, We are seeking the chances to meet all the friends from both at home and abroad for the win-win cooperation. We sincerely hope to have long-term cooperation with all of you on the bases of mutual benefit and common development.

-AAA Lendings

The accounts manager made a detailed introduction about the product, so that we have a comprehensive understanding of the product, and ultimately we decided to cooperate.