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Aczel Rico

VP of Mortgage Lending
750 Lexington Ave, 4th Floor, New York, NY 10022
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NMLS: 66997
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TestimonialsCustomer testimonials Read more

Overall, I'm happy with my refi experience. Aczel provided excellent service taking time to answer any questions and furnished the best loan possible. He was diligent in making sure I was comfortable with each step of the loan process while still ensuring documents were submitted speedily and accurately. I would definitely work with him again for future loan needs. The whole team was attentive, professional, and made the process easy. Also, the ability to review and sign documents...

Maria V. | 1/27/2017

My loan experience was quite pleasant. I used Guaranteed Rate because of Aczel Rico, my loan officer. He was extremely informative and very knowledgeable. Communicating with him throughout the process was very clear, concise and upfront. His responses were very expedient, he was always proactive. He set the right expectations at the onset, this made the process smooth for me as I prepared my documents. I was able to close fast which was to my advantage considering the rising interest rate...

Anita N. | 12/22/2016

Aczel is a great add to your team. I have been working with him for years now and now have been introduced to Guaranteed Rate through him so it's a win-win for me. The whole process was streamlined, professional and I'm looking forward to doing another loan together in 2017.

Eric D. | 12/13/2016

We had an excellent experience refinancing our home with Guarantee Rate. From start to finish the application went smoothly--stress free. We submitted our loan application and uploaded the required documentation; Guarantee Rate reviewed the application in a few days and gave us feedback. Our loan officer, Aczel Rico, followed up with us and ensured we were on track with all the required paperwork until the entire application process was completed. Thanks to our loan officer we were able to...

Maria R. | 12/14/2016

About Aczel

Aczel began his career in the real estate and mortgage industry over 14 years ago. He is a Licensed Mortgage Loan originator who has gone through extensive training as well as national and state exams. With a B.B.A in finance you can have the comfort of knowing that you are working with an educated professional to help you navigate through the loan process.

Aczel has a solid reputation of integrity, honesty and results. He believes in a strong work ethic and dedication to unparalleled service. His assistance is prompt and thorough as he is very knowledgeable about mortgages and the home lending industry. He is often available in the evenings and on weekends and no question is too small for him to answer. Communication, respect, maintaining a positive attitude, and doing the right thing for his clients are just some of the core values that set Aczel from the competition.

Aczel interview Q&A

How long have you been in the mortgage business and what inspired you to get into it?
14 years in the business. I wanted to provide a professional service founded on the bedrock aim of borrowers long-term financial security.
What are the pros and cons of a fixed rate mortgage versus an adjustable rate mortgage (ARM)?
Pro - The main advantage of a fixed rate loan is that the borrower is protected from sudden and potentially significant increases in monthly mortgage payments if interest rates rise. Con – Stability comes at a price. Fixed rate loans are usually higher than starting rates on an ARM resulting in a higher payment. Pro - Choosing an ARM over a fixed rate mortgage could be a solid financial decision, potentially saving you thousands of dollars. Con - if rates move up after initial rate period, this could lead to a higher payment and a “payment shock.” This could be a big risk if you plan on living in your home past the initial fixed rate period.
What are the top 3 misconceptions people have about the home loan process?
1- Mortgage rates are only released once per day - Mortgage rates for all types of mortgages can change frequently, sometimes dramatically, throughout the day. Because of the rapid changes in mortgage rates and a lender’s ability to control what is offered, it is important to shop around for the best rates. Getting multiple loan quotes is highly recommended. 2- I must get my mortgage through the same lender I was pre-approved with - a preapproval is a conditional agreement that estimates the size of the home loan a lender would fund for you. It typically preapproval involves income verification and a credit check. However, you are under no obligation to proceed with the lender that gave you the pre-approval. Make sure you get at least three loan quotes before proceeding with a mortgage. 3- You cannot get a home loan with less than a 5 percent down payment- It is a common misconception that you need to put down 10 percent, 15 percent or even 20 percent on a home, especially in after the recent housing crash. But with as little as 3.5 percent down, you can often obtain a mortgage through the Federal Housing Administration. FHA has become a popular loan option for those who may not have a large down payment or have blemishes in their credit history. FHA loans are available to everyone, not just first-time home buyers. (Find out more about the advantages and disadvantages of an FHA loan) There are also alternative loan programs through other agencies, including the Department of Veterans Affairs (VA) and the United States Department of Agriculture (USDA). These loans also require little-to-no money down.
What do you enjoy doing most in your spare time when you are not helping people with their home loans?
I like to spend time with my family when I can. I enjoy playing sports and doing yoga.
Tell us something that makes you unique or something wacky, yet interesting about you?
I'm a neat freak. Everything of mine is clean all the time.

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