Basic Steps to Buying 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

Red Flag Signs for Realtors

 As we all know, the real estate business is always up, going and competitive. It may become over whelming with finding listing, showing houses, dealing with clients, and over all put someone else’s needs before yours. As a Realtor you want to provide your client with top customer service and immediate feedback. Realtors always go out of their way to help clients but, the one thing that is most frustrating is when you spend time and money on a client who can’t qualify for a loan. Here are three ways to determine whether your clients credit will qualify.

1. Foreclosure- the process of taking possession of a mortgaged property as a result of the mortgagor's failure to keep up mortgage payments.
          This is a red flag because this shows the ability to pay on a mortgage, the banks frown upon this. That is a property you that you lost, that doesn't help you in any way and you’ll have to explain why you lost the property. The most lenient reason for banks are: loss of spouse, economy reasons, the company you worked for went down and/or business failed.

2. Bankruptcy- (of a person or organization) declared in law unable to pay outstanding debts.
          Bankruptcy is when sign an act stating that you can no longer pay your bills. What the court does is hire an attorney to help you file or send out ceases and desist letters which legally keep collection companies from contacting you.

3. Judgment’s- A collection
          This is when the collection companies take you to court, are awarded the case, and are allowed to be reported on your credit report and public report. The banks do not except any bank judgment’s. They must be paid, because in the state of Texas a judgment can be tied into Real Estate. Since judgment’s are tied into real estate, if you want to sale your home or refinance your home you will be forced to pay from your proceeds of your sale.

          Why does this affect you? You just stated that you can not pay for your bills, that’s a major risk for banks. There are special limitations with bankruptcy.  Depending on what kind bankruptcy you filed it will affect the amount of time you will have to wait before you purchase your next new home.

If your Client does not have any of these, your chances are greater than 50/50!

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

FHA Loans: Can you have more than one FHA property?

FHA loans: Can you have more than one FHA property?

Yes with certain exceptions.

FHA loans allow for you to have more than one FHA loan if one of these apply: 

1. If you can prove that your family size has grown you may be eligible for a second FHA loan. 

2. If your job relocates you more than 50 miles from your home. 

3. Divorce.

 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

Things to check when buying a home.

Tip #1

When you’re thinking about buying a home, the first thing to do would be to sit down with a qualified lender.  Your lender will be able to check your credit score and your financial information to give you a solid feel of what your options are and how much money you could really spend to purchase a home, without putting yourself in the position where the home owns you instead you owning it.

Tip #2

The very next important thing to do is plan. You should evaluate what you want and what you need. A good way to do that is to get a piece of paper and write your wants and needs.

Tip #3

You would need to pick the right Realtor that’s going to look out for your best interests, who’s going to be asking the right questions for you and your family, who’s going to help you walk away from a house that you are getting too excited about and need to get away from. You do not want a Realtor who is all about sells because they will just put you in a house to get a quick commission. So if you feel that your Realtor is more of a sales man and all the Realtor wants to do is sell, sell, sell then you've got with the wrong Realtor. Get a new one.

Tip #4

Do your homework. Make sure your home is inspected by a qualified inspector, make sure that the termite inspection is done and drive through the neighborhood on the weekend to check it out yourself. You’d want to check the neighborhood to check whether or not the environment is right for you and your family.

Tip #5

Manage your expectations. Realize that some things are going to have hiccups and are going to have peaks to 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

How the sudden increase in property values will help you and your mortgage.

You can wave the mortgage insurance from your current monthly payment. You can have it taken off by:

1. Refinancing your current mortgage: as long as you have 20% equity in your property.

- I.e.: If you would make 20% profit on the sale of your home today, you do have enough equity to qualify.



2. Not refinancing: Call your current mortgage provider if you feel like you would make 20% profit on the sale of your home property, you do have enough equity to qualify. Simply call them and pay for an appraisal and if you have the proper equity we will take it off.



If you don’t know if your home has enough equity then you should call a professional loan officer to help decide what the best option for you is. For more information about this subject and/or about loan questions please contact Frank Marta Texas Home Loan Specialist at Info@nuhomegroup.com


NuHome Group 713-373-0345
1445 North Loop West Suite 105 Houston, TX 77008

Frank Marta NMLS# 245813/835196