ATR-In-Full

  6/9/2022 8:19:38 PM      AAA Capital Investment, Inc.


What is the ATR-In-Full

Popular asset program. Borrower has certain amount of assets, which can cover the purchase price or loan amount and closing cost. No employment info required; No DTI.


Program Highlights

1. Up to 75% LTV.
2. Up to $4M Loan amount.
3. Primary residence only.
4. No limits on number of properties financed.
5. At least 6-month reserves from borrower's own funds.


Qualification

Below are the methods of calculation:

For purchase loan, the total allowable assets must match the purchase price plus any and all closing costs.
Assets >= Purchase price + all closing cost
For refinance loan, the total allowable assets must match the full loan amount plus closing costs.
Assets >= Loan amount + closing cost

See below scenarios qualification, you can refer to the calculation methods to see if you can qualify first before applying loans with lenders:

Scenario 1: Purchase price plus closing costs = $768,500.  Available assets = $700,000 (savings) plus $45,000 (50% of IRA) = $748,000.  Short by $20,500.  If the borrower is 59.5 or older, qualifying assets would be $700,000 + $54,000 (60% of IRA) = $754,000 and short by $14,500.

Scenario 2: Loan amount plus closing costs = $518,500. Available assets = $370,000 (savings) + $100,000 (50% of IRA) = $470,000.  Short by $48,500. If the borrower is 59.5 or older, qualifying assets = $370,000 + $120,000 (60% of IRA) = $490,000 and short by $28,500.




If you have any questions about ATR-In-Full program, 

Please email to hello@aaalendings.com or call us: 1 (877) 789-8816.







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