Showing posts with label Active Rain. Show all posts
Showing posts with label Active Rain. Show all posts

Monday, August 4, 2014

Burn The Ships!!!

I was recently at a business training to learn more about real estate. Instead of the training being focused on logical and practical operations it was more of a sermon.  The guest speaker spoke about how we give ourselves the option to fail by the way we emotionally express ourselves on a daily bases.  He said “We just give up too easily sometimes.”  I agree with him on that point.  Then he went on about explaining the words we declare sometimes. He stated, “We worry ourselves and even curse ourselves, then wonder why we receive the results that we get.”  I couldn’t argue that for one second. As he went on about his lesson he used metaphoric “ships that we have in our lives.”  These ships represent; doubt, the familiar, the place of comfort, and simply things that we go back to when times get rough.
 I remember reading the story of Peter when he was on the boat. At the time, Peter and a few of his disciples were off shore, there were waves and wind thrusting against his boat. They then saw a man walking on water and were terrified because they thought it was a ghost, little did they know it was Jesus.  Jesus spoke to them saying they should have courage and not to be afraid for it was Him walking on water not a ghost. Peter then told Jesus “Lord, if it’s you, tell me to come to you on the water.” Jesus said “come.” Peter then walked on to the water to go towards Jesus. But when saw the wind he was afraid and began to sink in the water. He cried out “LORD, SAVE ME!” Jesus immediately reached out to his hand and caught him. He said, “You of little faith, why did you doubt?”  
Now picture yourself in Peter’s shoes, taking your first step on the surface of the water because you’re trying to go towards Jesus. Imagine your self walking on water but feeling the strong winds push against you and seeing waves come to you. Would you be scared? Would you look back at the boat to see how far you were from it? Would you have any doubt?  I personally would be frightened; I would probably look around in panic to see where the boat was. This is what we do spiritually when we hear our calling but lose our concentration on the Lord.  We look for something to save us, when we have the best life preserver with us all along.
The Instructor then went on about relating the story of Peter to the story of Hernan Cortes the Spanish Conquistador. Cortes had planned to attack the Mexican Azteca’s with a strategic plan because the Spaniards wanted to conquer Mexico and raid the land for their famous precious treasure that they possessed. The Spaniards were not only seriously outnumbered but they had to be willing to die for their Queen and acknowledge that many would die due to the odds. Nevertheless, Cortes motivated the troops by exposing that they would forever be remembered and spoke about in history. Upon the battle, Mr. Cortes gave one of the best battle cries ever recorded. He shouted "BURN THE SHIPS"!  This was the point of no return. The army was stunned and excited to push forward by these words when in fact, they had no other option. They simply had to give it their all and die for what they believed in. 
That is the point in our faith and in our industry.  It is not Ludacris to be a Broker, Loan Officer, or Realtor in this industry, nor in our faith.  Being faithful in our lives and industry isn’t absurd, it’s courageous.  Let us be brave for “yet in all things we are more than conquerors through Him who loved us. For I am persuaded that neither death nor life, nor angels nor principalities nor powers, nor things present, nor things to come, nor height nor depth, nor any other created things, shall be able to separate us from the love of God which is in Christ Jesus our Lord” (Romans 8:37-39).  I was so pumped up and refreshed after the training; it was personally much need it. Sit back, analyze, and ask yourself “Am I ready to become a conqueror?” YES YOU ARE!!!

I really hope that this story helps it did it for me.

Friday, August 1, 2014

Primera ves Comprando Casa? Necesitas ayuda? Estamos aquí para ayudar!





Está usted interesado en comprar una casa? El equipo NuHome Group le ayudará a conseguir pre-aprobado en menos de 24 horas. La compra de una casa hoy en el mercado actual es una gran inversión. Muchas veces es más barato tener una casa que alquilar. Por lo tanto, no deje que estos tipos de interés históricamente bajos escapen. Compre su casa hoy!

El primer paso en la compra de una casa, está asegurando su préstamo hipotecario. Las compañías hipotecarias tienen diferentes requisitos para los préstamos.

He aquí un desglose de los 3 factores importantes que pueden determinar sus calificaciones.
1. Las puntuaciones de crédito (580 min)
2. Ingresos vs Deuda (Deuda a ingreso de

3. Enganche (fondos para cerrar).

Documentación adicional será requerido para conseguir que una aprobación, pero vamos a caminar a través del proceso. Nos aseguraremos de que el proceso de compra se hará más fácil para usted.


Llámenos hoy estamos preferido prestamista para la vivienda de Houston.


NuHome Group 713-373-0345
1445 North Loop West Suite 105 Houston, TX 77008
Frank Marta NMLS# 245813/835196

Tuesday, July 29, 2014

Realtors Guide For Home Loan Process!!!


Realtors guide for Home Loan Process

Introduction: I have come up with this system to better explain the loan process for the Real Estate community.  I as a Loan Officer, try to educate my fellow Real Estate colleagues in the loan process.  If we all are on the same page then we can work in better harmony.  With the lenders guidelines becoming tighter we have to band together and form a better system of working together.  So that is why I along with some of my Real Estate counter parts we are creating this tool for all of us.
As the Loan officer, I try to collect all documents upfront from the prospective home buyer.  Why? Because no one wants any surprises at the last minute not if we can avoid it upfront upon application.   
 Normal documents needed upon Application:
  1. Last 30 days of pay stubs (All Applicants)
  2. Last 2 years tax returns w/ W-2's (All Applicants)
  3. Most Recent 2 months bank statements/ assets (Proof of funds to close)*
  4. Copies of ID(s) and SS Card(s) and Resident Alien Card(s) (If Applicable)
  5. Money for Credit Report $50.00 (Must charge for serious applicants only)
*This is a trouble spot a lot of times.  If we can't prove funds to close this slows down the whole process.
 We run their credit and then determine what to do from there.  There are three things that can happen at this point.  Once approved and they can start looking for house. Two, not approved and work on credit with a Credit Repair or with credit repair tactics.  This takes from 3-6 months depending on the severity of the credit issues.  Three, if not approved and decides to payoff collections or paying down on CC Balances.  This takes about 1-2 weeks for the Rapid Rescore then start to look for the home.
 At this point my work hasn't started yet!  Once client is approved and looking for the house it is important to consider some of these tips.  Depending on the type of loan approved for it may be helpful for you to know some of these details when looking for the house. 
 FHA Loan tips when looking for home:
  1. Hud Homes- If you go over the appraised value on the site then the client will have to come up with the difference.  Example if website says that the house's value is $100,000 and you offer $105,500 then your client will have to pay $5,500 down for that house even if FHA minimum down payment is 3.5%.  Why because the house has already been appraised and lenders have to go by them, no exceptions.
  2. Foreclosures- Most Foreclosures will not make any repairs to the house to close, so keep this in mind when showing Foreclosures.
  3. Foreclosures- Not all banks allow FHA financing.
  4. Foreclosures- Mainly Fannie Mae or Freddie Mac foreclosures you should ask for 45 days for closing since they ask for docs to be at title like 4-7 days prior to closing to request there approval to the HUD-1 Settlement statement.
  5. Flips - Seller must be on title for more than 6 months before closing.  Flips must be on title for more than 6 months and can't make more than 100% profit.
 Under contract:
Once you're under contract must provide me with a clear copy of contract with copy of Earnest Money.  Canceled copy of earnest money check if gave personal check.  Copy of Cashiers check and bank statement to prove came out of bank account. If not then we can't have lender count the credit on HUD statement.
 Loan process begins:
Step 1: Set appointment with buyer to come by office to sign disclosures. (Within 3 days of executed contract date)
Step 2: Price loan with all lenders and Lock Loan. (Day 1-3)
Step 3: Loan processor begins with loan checks file for out dated docs. (Day 1-2) 
Step 4: Orders request for Title work (Day 1-2)
Step 5: Order request for Verification of Employment (day 2-4)
Step 6: Order request for Hazard Insurance (Day 2-4)
Step 7: Order Appraisal (Day 4-6)
Step 8: Orders FHA Case Number and CAIVERS No.(Day 6-7)
Step 9: Order LDP and GSA (Day 7-8)
Step 10: Begin to package loan (Day 8-10)
Step 11:  Send out loan to Lender (Day 8-10)
Step 12:  Turn times for lender (Day 11-15)**
Step 13:  Lenders conditions (Day 16)
Step 14:  Fill conditions (Day 16-20)
Step 15:  Lender puts loan CTC (Day 22)
Step 16:  Lender sends out docs (Day 23-25)
Step 17:  Set closing date (Day 26-29)

*This process can take a bit less or more depending on if something is delayed (Verifications or Proof of funds to close).
**Some lenders have longer turn times than others. (580 Lender want 15 days for submission)
 Realtors guide for loan process created by Frank Marta (Texas Home Loan Specialist).

For more information about loans or this topic please contact us at info@nuhomegroup.com or call us at (713) 455-0134




NuHome Group 713-373-0345
1445 North Loop West Suite 105 Houston, TX 77008
Frank Marta NMLS# 245813/835196

Friday, July 25, 2014

Do I Need a Pre-Approval Letter to Make an Offer?



Do I Need a Pre-Approval Letter to Make an Offer?
At the end of the day, you don’t necessarily NEED a pre-approval letter to make an offer on a piece of property.  But nowadays, with so few properties on the market, and so many multiple-bid situations, it’s often a requirement just to hear back.

Sure, you can tell your real estate agent to tell the listing agent that you’ve got an 800 credit score, $1 million in the bank, and a job that pays you $500,000 a year. And they might say fine, skip the pre-approval.
But chances are that’s not your financial profile, so just to play ball and keep everyone happy, it often makes sense to get the pre-approval done. It will also strengthen your offer.
And as I alluded to earlier in this post, it’s good to know where you stand as well.  You might think you’re a sure shot at getting a mortgage, but surprises aren’t all that uncommon and mortgage guidelines change all the time.
So a pre-approval could actually save you time and money, despite being a task that needs to be taken care of upfront.  It shouldn’t take very much work to get one anyways.
Just remember not to feel obligated to use the bank that furnishes the pre-approval letter for you!

 For more information about loans or this subject please contact us via email atinfo@nuhomegroup.com or give us a call at 713-373-0345


NuHome Group 713-373-0345
1445 North Loop West Suite 105 Houston, TX 77008
Frank Marta NMLS# 245813/835196

Wednesday, July 23, 2014

What Is A Pre-Approval?

A pre-approval is a written, conditional commitment from a bank or a mortgage lender that says you are pre-approved for the mortgage financing in question.
It comes only after filling out a loan application, supplying verified income, asset, and employment documentation (assuming these items are necessary), running credit, and underwriting the loan file.
Acquiring a pre-approval shows the interested parties (sellers, agents) that you’re a committed buyer, boosting your chances of sealing the deal at the price you want. It will also show you how much house you can afford, not just an estimate.
Pre-Approval Requirements:
  • Credit report
  • Bank statements
  • Pay stubs
  • Tax returns
Once you provide all the required documentation and get the pre-approval letter from a bank or lender, it is typically valid for 60-90 days. Just note that things can change during that time, such as your credit score, so it’s not 100% guaranteed.
As you can see, being pre-approved and pre-qualified are not the same thing, so make sure you know the difference before shopping for a home.
For more information about this subject and about loan questions please contact Frank Marta Texas Home Loan Specialist. Info@nuhomegroup.com or give us a call (713) 373-0345


NuHome Group 713-373-0345
1445 North Loop West Suite 105 Houston, TX 77008
Frank Marta NMLS# 245813/835196