– AAA Lendings Salary Borrower Non-QM Program – WVOE (Written Verification of Employment) – AAA Lendings Detail:
Overview
Wage earner borrowers only, who can not go with agency mortgage loans, and do not want to provide varities of income documents.
Details
1) Foreign national allowed;
2) 12 months reserves calculated on PI (Not PITIA other lender required);
3) No paystub / W-2 / tax return needed;
4) Gift funds allowed;
5) Loan amount up to $2.5M;
6) Down payment as lower as 30%;
7) Min. FICO 680.
What’s WVOE?
Have you ever seen this kind of case?
Did the Lender condition updated paystubs again and again?
Did the lender calculate your income and tell you not qualify with the house mortgage?
Are you hard to find your copies of W2s or paystubs?
AAA Lendings offer you a perfect Non-QM program — WVOE (Written Verification of Employment). If the salaried borrowers receive a consistent wage or salary from an employer in return for a service rendered and have no ownership or less than 25% ownership interest in the business.
Salaried borrowers receive a consistent wage or salary from an employer in return for a service rendered and have no ownership or less than 25% ownership interest in the business. Compensation may be based on an hourly, weekly, bi-weekly, monthly, or semi-monthly basis. If hourly, the number of scheduled hours must be addressed. The income that is verified must be converted into a monthly dollar amount for use on the formal application (FNMA Form 1003). At the discretion of the underwriter, supplementary documentation of income may be requested.
What are the advantages?
For this program, the lender only need a WVOE form to calculate qualified income, no any other income documents needed. This should be the most attractive key point of this program. There is not any agency loans can do such program. Besides, different from other programs, borrowers doesn’t need to provide too many assets documents for this program. In general, this is a good program for salaried borrowers who do not qualify agency loans.
How to calculate the salary?
- Use the base salary (semi-monthly, bi-weekly, or hourly rate as supported by YTD) from WVOE.
Examples:
- Semi-monthly: Semi-monthly salary multiplied by 2 equals monthly income.
- Bi-weekly: Bi-weekly salary multiplied by 26 divided by 12 equals monthly income.
- Teacher paid for 9 months: Monthly salary multiplied by 9 months divided by 12 months equals monthly qualifying income.
Reminder the employer to complete the WVOE form, then lender will proceed with the loan faster.
Product detail pictures:
Related Product Guide:
Planning your financial future begins with the right mortgage partner, and at AAA LENDINGS, we are committed to helping you achieve your dreams. We understand that the journey towards homeownership can be exciting but also daunting. Our seasoned professionals are more than just mortgage experts; they are your financial allies. They are available to discuss your goals, assess your financial situation, and provide personalized guidance that captures your interest. We take pride in being the guiding hand that empowers you to make informed decisions about your future. – AAA Lendings Salary Borrower Non-QM Program – WVOE (Written Verification of Employment) – AAA Lendings , The product will supply to all over the world, such as: Bogota, Amman, Uruguay, Our products are widely sold to Europe, USA, Russia, UK, France, Australia, Middle East, South America, Africa, and Southeast Asia, etc. Our products are highly recognized by our customers from all around the world. And our company is committed to continually improving effectiveness of our management system to maximize customer satisfaction. We sincerely hope to make progress with our customers and create a win-win future together. Welcome to join us for business!
By Dinah from Sheffield - 2017.12.19 11:10 Good quality, reasonable prices, rich variety and perfect after-sales service, it's nice!
By Michelle from Costa rica - 2017.11.11 11:41 
