Our entire team is devoted to our commitment of providing only exceptional service, from our sales team, to our operations professionals, to secondary marketing and to our management team.

Absolute Mortgage & Lending is a dba of AML Funding, LLC. At Absolute Mortgage & Lending, we all share one vision and practice our core values. We strive to provide excellent service to our clients and partners and hold great value in being the mortgage lender our clients turn to.

What is a Conventional Loan?

By definition, a conventional loan is any mortgage that is not guaranteed or insured by the federal government. A conventional loan is generally referring to a mortgage loan that follows the guidelines of government sponsored enterprises (GSE’s) like Fannie Mae or Freddie Mac. Conventional loans may be either “conforming” and “non-conforming.” Conforming loans follow the terms and conditions set by Fannie Mae and Freddie Mac. Non-conforming loans don’t meet Fannie Mae or Freddie Mac guidelines, but they are also considered conventional.

Whether you’re buying a home or want or refinance your mortgage, a Conventional Loan might be right for you. If you’re unsure about your credit rating, or have concerns about a down payment, Conventional Mortgages can give you piece of mind with low-closing costs and flexible payment options.

What are the Conventional Loan Requirements?

To decide if you qualify for a Conventional Mortgage Loan, we will look at:

   * Your income and your monthly expenses. Standard debt-to-income ratios are 28/36 for Conventional Loans. These ratios may be exceeded with compensating factors.
   * Your credit history (this is important, but Conventional’s credit standards are flexible). A FICO score of 620 or above is very helpful in obtaining an approval.
   * Your overall pattern rather than individual problems you may have had.
To be eligible for a Conventional mortgage, your monthly housing costs (mortgage principal and interest, property taxes and insurance) must meet a specified percentage of your gross monthly income (28% ratio). Your credit background will be fairly considered. At least a 620 FICO credit score is generally required to obtain a Conventional approval. You must also have enough income to pay your housing costs plus all additional monthly debt (36% ratio). These percentages may be exceeded with compensating factors.

What are the Conventional Down Payment Requirements?

Conventional Loans require the home buyer to invest at least 5% – 20% of the sales price in cash for the down payment and closing costs. If the sales price is $100,000 for example, the home buyer must invest at least $5,000 – $20,000.

What will my Interest Rate be?

The interest rate for your home loan will be determined by the type of loan program that you qualify for and your credit score

What types of property are eligible?

While Conventional Mortgage Guidelines allow you to purchase warrantable condos, planned unit developments, modular homes, manufactured homes, and 1-4 family residences. Conventional Loans can be used to finance primary residences, second homes and investment property.

Ready to get your loan process started? Click Here & Start Your Loan Application.

Our Construction Loan Services

Building the custom home of your dreams means your future holds many wonder-filled possibilities. Finding the interim construction financing product that best fits your needs should not be one of those wonders.

At Absolute Mortgage & Lending, we always say, “Your Custom Home Deserves Custom Home Financing.”

Securing an interim construction loan with Absolute Mortgage & Lending gives you the peace of mind you desire, so you can focus on the more important aspects of your custom home build.

Why an Absolute Mortgage & Lending loan?

Our borrowers have found that we offer specialized construction loan products with unique terms that are not offered by most lenders. We make it easy for you to obtain a make-sense construction loan, and then transition that construction loan to a permanent mortgage after your custom home is complete.

The Absolute Mortgage & Lending loan advantage for borrowers:

   ·       Minimal down payment options

   ·       Cash lot equity counts as down payment

   ·       Loans up to $1 MIL

   ·       Credit score requirements that are much lower than standard commercial banks

   ·       Owner-occupied and second-home financing with a single-family home custom-build

   ·       In-house financing for interim and permanent mortgage loan

   ·       Transparent, up-front underwriting on permanent loan

   ·       Simultaneous close for lot purchase and interim construction financing

One loan Originator. One borrower. One team. One-stop shop.

Our focus is on providing outstanding customer care and the best mortgage product available for your unique situation. The Absolute Mortgage & Lending loan originators work one-on-one with you throughout the entire process, from loan application to closing the permanent mortgage. No need to juggle multiple loan originators and loan notes from multiple lenders. Absolute Mortgage & Lending is your one-stop shop for all your mortgage-lending needs.

Whether you’re looking to build your third custom home or wanting to build your first due to bidding wars and low home inventory, rest assured your decision to go with Absolute Mortgage & Lending is a smart choice.

Make-sense solutions for borrowers and builders alike.

Absolute Mortgage & Lending is a pioneering leader in the construction-to-permanent mortgage lending. We developed a highly customized construction lending division that provides maximum financing on interim construction loans in the State of Texas and other eligible regions. Absolute Mortgage & Lending underwrites and funds its own loans. There is no third-party underwriter to slow the process. Borrowers looking to build the custom home of their dreams are able to get their construction loan faster with the use of Absolute Mortgage & Lending’s lower down payment options and the expertise of our construction loan originators.

Builders and the local community benefit from the advantage, too. There is more profit in the builder’s pocket when the borrower secures a low down-payment construction loan at Absolute Mortgage & Lending.

Look at the benefits of a loan with Absolute Mortgage & Lending for the builder:

   ·       No retainage hold back

   ·       Flexible draw schedules

   ·       Easy builder approval

   ·       One loan originator, one relationship, one servicer from interim to permanent loan

   ·       In-house financing for interim and permanent mortgage loan

   ·       Transparent, up-front underwriting on permanent loan

   ·       Simultaneous close for lot purchase and interim financing

   ·       Quick turn time on interim closing, within 30 days of receiving final contract, plans, and specs

Ready to get your loan process started? Click Here & Start Your Loan Application.

Although FHA loans typically require tax returns for income verification, there are situations where you may be eligible without them.  If you are a wage earner and have yet to file income taxes but want to purchase a home using an FHA loan, this may apply to you. A Verification of Employment (VOE) will be required instead of tax returns.  Below are what you would expect to process this type of mortgage application.

Program Highlights:

 * No tax returns, no W2s, and no 4506T
 * Must be employed for at least two years, preferably with the same employer or same line of business    (all employment VOE)
 * Business: google recognized, brick & mortar
 * Non-arm’s length transaction
 * Minimum Loan Amount of $50,000
 * Current Pay stub Covering 30‐Days of Employment

Not Allowed:

 * Family Employer
 * Self‐Employed and Investment Income
 * Down Payment Assistance Programs
 * Departing Residence Income

Credit Minimums & DTI Allowed:

 * 580+ FICO LTV UP TO 96.5% MAX DTI 55%
 * 540 – 579 FICO LTV UP TO 90% MAX DTI 50%

Ready to get your loan process started? Click Here & Start Your Loan Application.

Down payment assistance programs vary by state and county. Whether you’re a first-time homebuyer or looking to upgrade to a new property, these programs can offer valuable support to make homeownership more accessible and affordable.

We understand that everyone’s financial circumstances are unique, and our goal is to help you find the best down payment assistance program that fits your needs. By leveraging these programs, you can reduce the upfront costs associated with purchasing a home, making your dream of homeownership a reality.

We are committed to providing you with the resources and guidance to make informed decisions about your home-buying journey. Feel free to contact our licensed loan professionals for more details on the product offerings available in your area.

Below are the approved Down Payment Assistance Programs we offer at Absolute Mortgage & Lending.

Approved Programs: Arizona – Home Plus, California  – CalHFA, Colorado – CHFA,  Florida  -FL Housing, Louisiana – LHC, Texas – DHAP, Texas State Affordable Housing Corporation – TSAHC

Ready to get your loan process started? Click Here & Start Your Loan Application.

Nonqualified mortgages (non-QM) are alternative mortgage loan programs designed to help borrowers who can’t qualify using standard document programs. Government and conventional loans have set agency mortgage guidelines, which may disqualify many borrowers. For example, if you are self-employed or need all the necessary documentation to qualify for a traditional mortgage, you should look at nonqualified mortgages.

Without Non-QM loans, certain people could not purchase their homes. These loans are not backed by any government agency and are considered portfolio loans.

NON-QM Pros & Cons

PROS:

* Same Application as a traditional mortgage
* Lenient Guidelines requiring less proof of income and docs
* Products available for foreign national
* Investors are not limited to the number of financed doors they own

CONS:

* Interest Rates and fees may be higher
* NON-QM loans can be challenging to find
* Down Payment requirements may be higher
* Require higher credit scores

Who Benefits from Non-QM Loans

The following types of borrowers benefit:

* Investors who are CAPPED at the allowed number of doors financed

* Mortgage Borrowers who are self-employed and do not meet the
debt-to-income ratio requirements due to the business expenses

* Homebuyers with a prior bankruptcy and/or foreclosure who have
reestablished themselves but did not meet the minimum waiting
period requirements after bankruptcy and/or a housing event

* Homebuyers who have late mortgage payments in the last 12 months on their previous mortgage

* Retirees, self-employed, entrepreneurs, and wealthy individuals who
have assets but no traditional income and/or regular job

* High-end homebuyers who cannot qualify for traditional jumbo loans

Ready to get your loan process started? Click Here & Start Your Loan Application.

The purpose of this program is primarily used to help low-income individuals or households purchase homes in rural areas.

USDA Rural Housing Program offers the following important features:

 * 100% financing available
 * 6% seller concessions allowed
 * No maximum loan limits
 * 30-year fixed-rate mortgages
 * Must be in non-metropolitan areas
 * Single-family/owner-occupied homes

If the appraised value is above the sales price you can use the difference for concessions, repairs, et

The USDA Rural Housing program provides low and moderate-income rural residents with better access to affordable housing financing options with little or no down payment or out-of-pocket costs. Borrowers may obtain a loan to purchase a new or existing home that is located in a designated rural area. Population of 10,000 or less; population of 20,000 or less if located outside a metropolitan statistical area. Eligibility: Borrower must lack sufficient resources to obtain conventional financing.

Occupancy: Primary

Loan Term 30-year fixed only. Purchase and Rate/Term Refinance. Income and geographic limits apply. Loan amount based on the lesser of the following: current conforming conventional loan limit, excluding the guarantee fee; 102.75% of the appraised value. Includes the guarantee fee.

The appraisal determines the maximum loan amount. (Note – guarantee fee changed from 2.75% to 1.00%, annual fee changed from 0.50% to 0.35% in Oct. 2016).

Ready to get your loan process started? Click Here & Start Your Loan Application.

What is a 7(a) loan?

The 7(a) Loan Program, SBA’s most common loan program, includes financial help for small businesses with special requirements. This is the best option when real estate is part of a business purchase, but it can also be used for:

 *  Short and long-term working capital
 *  Refinance current business debt
 *  Purchase furniture, fixtures, and supplies

Key eligibility factors are based on what the business does to receive its income, its credit history, and where the business operates.

 *  Land, streets, utilities, parking lots, and landscaping
 *  Existing facilities
 *  Minimum down payment requirements as low as 10%
 *  Loan sizes $350,000-10,000,000

Types of buildings allowed and must be owner-occupied by the business, no landlords collecting rents) ex: Auto mechanics, hotels, RV Parks, medical practice, restaurants, etc.

Types of businesses allowed: No nonprofits, No investment property, No investors, No house flippers, No developers, No illegal businesses, No casinos. Must be a small business

What is an Express SBA loan?

Loan Amount up to 350K, Purpose is to be used for revolving lines of credit. Fast turnaround.