- Juan Luis MacedoLicense ID: 600310
- +1(281) 701-9303 juanluis@mrgrealty.com
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.
We believe that 95% of mortgage loan processing problems are unnecessary and can be totally eliminated. It's what drives us to share our knowledge and resources. We know from experience that delays caused by errors, missing information and a mountain of underwriting conditions can quickly become a thing of the past. This belief inspired us to design a user-friendly, online course that makes complex mortgage loan processing principles easy to understand.
Partner Perks
Access to sales strategies and coaching
Extensive loan program options
Pre underwriting, processing + 20 yrs of origination experience
Weekend availability
Marketing and community outreach support
7 touch follow up process for leads
Face to Face joint client agent consultation
Preferred Lender Incentives with New Construction Relationships
Property marketing and exposure
Assistance with marketing videos and photos for listings
Fast closings
Completive rates and closing costs for our clients
Weekly communication with all parties of the transaction
Client Services
Complete Client Interview
Face to Face Consultation with a personalized Plan of Action
Preapproval Letter vs Prequalification Letter with Automated underwriting findings
Weekly Follow up and weekend availability
Access to the Best Resources; Credit Repair, Insurance Agent, Rapid Rescore, Accounting and more.
12 hour Underwriting scenarios
Privacy Protection
20 day Closing
Competitive products, investors friendly programs including residential, commercial and hard money.
Same day approval
Ability to pre-underwriting a application
Detailed explanation on; Timeline of the Loan Process, my teams role, the Do’s and Don’ts, Current Market rates, Homestead application, Debt to income ratios, Bank vs Lender explanation, FHA vs Conventional explanation, Loan Level Price Adjustments, Closing costs, monthly payments and escrow accts.
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.
Can I get a Conventional Mortgage Loan after bankruptcy?
Criteria for Conventional loan approvals state that if you have been discharged from a Chapter 7 bankruptcy for four years or more, you are eligible to apply for a Conventional mortgage. If you have had a Chapter 13 bankruptcy, it must be documented that your credit reputation has been re-established for at least two years to be eligible for a Conventional Loan Application.
What kinds of loans do Conventional Programs Offer?
Fixed rate loans – Most Conventional Mortgages are fixed-rate mortgages. In a fixed rate mortgage, your interest rate stays the same for the entire loan period. With a fixed rate Conventional Mortgage, you always know exactly how much your monthly payment will be. Contact us for today’s Conventional mortgage rates.
Adjustable rate loans – With a conventional adjustable rate mortgage (ARM), the initial interest rate and monthly payments are low, but these may change during the life of the loan.
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
AFFORDABILITY CALCULATOR
Quite affordable.
A Little More About Me
Juan Luis brings a positive, enthusiastic, and winning attitude to every industry he participates in. The 10 years of engineering experience prior to his career in Real Estate, truly contributed to his attention to details and forward-thinking, which have been very useful in today's real estate industry.
He is Born and raised in Houston and loves his city and the people in it. In the past 11 years, he has been fully emersed in Real Estate, to be an asset to his clients. Professionally, he is a broker/owner to a very close and loving family-oriented local favorite brokerage, MRG Realty, where he and his team make real estate buying/selling and investing a reality.
In the last 2 years, he has managed to become a mortgage loan officer, which now gives him the ability to guide his clients thru the entire process, which are very much connected to one another. In addition he is a real estate Investor and understands the importance of nontraditional financing, which he is able to offer at Boxwood Mortgage.
In his personal life, he enjoys healthy living, jogging, hiking, working out, mountain biking, watching live sports, fine dining, salsa dancing, funny movies, and most of all creating memories with family and friends which is also what he considers his peers at the office.
Juan Luis Macedo | Home Loan Originator | NMLS # 1866542
JuanLuis@AbsoluteML.com | D: 281-701-9303 | 2825 Wilcrest Drive Suite 150 Houston TX 77042
Absolute Mortgage & Lending | www.ezhomecredit.com |Co. NMLS # 1910591