texas home loan specialist: How to Avoid Delays in your Closing on a Home Loan, The Series Series Three: Income - 11/05/14 02:57 AM
 

 
In the previous two series, we mentioned how Credit and Assets could cause a delay in the closing of your Home Loan.  If you haven’t read those two blogs I would highly recommend you do so, for they are very educational. In this series, we will be covering, income and how it could affect your loan. Please keep in mind that every scenario is different and I highly recommend that you speak to a professional Loan Officer about your specific scenario.
 
Top 8 things that could delay your loan process:
1. Not filing your Tax Returns.
2. … (0 comments)

texas home loan specialist: How to Avoid delays in your closing on a Home Loan, The Series Series Two: Assets - 10/29/14 08:05 AM

 
Earlier in Series, On of How to Avoid delays in your closing on a Home Loan, we mentioned just how important your credit is for when you’re applying for a home loan. Aside from your FICO score, your assets are a huge part to your loan approval. You must prove that you have the funds to close and all funds must be sourced prior to issuing out a loan approval.
 For Residential home loans you need 2 months of recent bank statements and for Commercial loans we would need 3 months of recent bank statements.
For Example… If you … (0 comments)

texas home loan specialist: How to avoid delays in your closing on a Home Loan, The Series - 10/09/14 02:17 AM

 
 
 
 
 
 
 
 
 
 
 
 
Series One: Credit Score
                                                                                      
            Like all buyers, you see a home, want it, and then you go pursue it. You go set up an appointment with a Mortgage Broker and expect to get a smooth closing. Right? Of Course! But not all prospect buyers know exactly what documents they need or what credit score they need in order to get the closing done in 30 days or less. Keep reading and keep scrolling down to unlock your full potential on a fast and easy home loan … (0 comments)

texas home loan specialist: How Do Lenders Know The Maximum Loan Amount Buyers can Afford? - 08/15/14 01:42 AM

 
 
If you are new to the real estate market, the cost of a home may appear daunting. You may feel that you cannot qualify for any home loans, based on your income. However, lenders have a logical and clever way to formulate the best loan amount for you. It is possible to own a home, even with a limited budget. Lenders take your unique income and financial background to create a loan package perfect for your monthly budget.
The Debt-To-Income Ratio
The main financial formula that lenders use to determine your maximum home loan amount is a ratio … (0 comments)

texas home loan specialist: Could I Purchase again after a foreclosure or short-sale? - 08/13/14 01:58 AM

 
Could I purchase again after a foreclosure or short-sale?
As much as people think you can’t, that’s far from the truth. Good news! You absolutely can!
What Are Extenuating Circumstances?
A death in the household or a permanent disability were typically the only extenuating circumstances that could help you secure a new home loan. With the new “FHA Back To Work program”, initiated November 16, 2013, recovering homeowners can find a reasonable mortgage only 12 months after a foreclosure, without exorbitant interest rates and charges.
Homeowners are slowly emerging from economic hardship. Lenders see the past foreclosure as a … (0 comments)

texas home loan specialist: Should I Buy a Used home or A New Home? - 08/12/14 05:56 AM

Should I Buy a Used home or A New Home?
Untouched and Clean
The most obvious benefit to buying a new home as opposed to old, existing, or used is that it’s brand spanking new. It’s untouched, it’s clean, everything is in good working order and nothing needs to be repaired.
That’s a pretty huge incentive to buy new. You won’t have to worry about the typical costs of homeownership for the first several years, right?
Another benefit to buying new is that the home should have all the latest amenities. Remember when it was all the rage to have … (4 comments)

texas home loan specialist: First Time's Guide, Prepare your self to succeed! - 08/06/14 07:54 AM

 
I help a lot of first time home buyers and as a first time home buyer I understand there are many questions or concerns that they may have.  I simply put together a short summary of the Loan Process here at NuHome Group.  This summary is very brief to help not complicate things.
Qualification- you would need to provide certain documentation to be pre-qualified. Thirty days of Pay stubs, 2 recent months bank statements, 2 years tax returns w/ W-2's (2013-2012) or 1099’s and other forms of income may be requested, a front and back copy of your social … (1 comments)

texas home loan specialist: FHA, VA, and USDA Hightlights! - 08/05/14 02:08 AM

 
For more information about this subject or loans please contact us by phone at 713-373-0345 or by email info@nuhomegroup.com
www.nuhomegroup.com
 
 
NuHome Group 713-373-0345
1445 North Loop West Suite 105 Houston, TX 77008
Frank Marta NMLS# 245813/835196
(0 comments)

texas home loan specialist: Burn The Ships!!! - 08/04/14 06:24 AM

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 basis.  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.”  … (0 comments)

texas home loan specialist: Primera ves Comprando Casa? Necesitas ayuda? Estamos aquí para ayudar! - 08/01/14 01:05 AM

 
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 … (0 comments)

texas home loan specialist: Realtors guide for Home Loan Process!!! - 07/29/14 06:33 AM
 

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.
(0 comments)

texas home loan specialist: Do I NEED A Pre-Approval Letter to Make an Offer? - 07/25/14 02:28 AM

 
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 … (3 comments)

texas home loan specialist: What's A Pre-Approval? - 07/23/14 07:18 AM

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 … (2 comments)

texas home loan specialist: What Is A Pre-Qualification? - 07/22/14 06:16 AM

If you choose to finance the home purchase with a mortgage, you’ll need to get pre-qualified first. A “pre-qualification” isn’t as robust as a pre-approval, but it’s a good first step to ensure you can purchase the home you desire (or any one at all).
A pre-qualification is a pretty straightforward, simple check to see what you can afford based on your income/debt levels (debt-to-income ratio), assets, down payment, employment history, perceived credit score, and so on.
You can get pre-qualified very quickly and easily with a bank or mortgage broker, but it won’t carry much weight in the eyes of the … (0 comments)

texas home loan specialist: Follow NuHome Group! - 07/21/14 05:38 AM

Help us get more followers and likes through our Social Medias!
Keep a look out on our special free giveaways on Twitter and Facebook!
https://www.linkedin.com/pub/frank-marta-houston-tx-mortgage-company/8/a62/728
https://www.facebook.com/pages/NuHome-Group-LLC/858160390879926
http://activerain.com/profile/frankmarta
 
https://twitter.com/FrankMarta6
 
 
NuHome Group 713-373-0345
1445 North Loop West Suite 105 Houston, TX 77008
Frank Marta NMLS# 245813/835196
(0 comments)

texas home loan specialist: How Do I Calculate My Monthly Income? - 07/18/14 02:46 AM
 If you’re a future homebuyer, you might have used one of those “How much mortgage can I afford?” calculators online. These calculators typically gather information like your down payment amount, credit score range, monthly or annual income and debts.
Then, they’ll spit out an estimate of what a bank might lend you mortgage-wise.
 
These calculators work primarily by figuring out your debt-to-income ratio and then how much you can afford to pay for your monthly mortgage payment. This is similar to how banks decide how much to lend you, but first you must know what your monthly gross income is.
 
Yearly– Take … (0 comments)

texas home loan specialist: What's the difference between the Listing Price and the Appraisal? - 07/17/14 05:33 AM

 
When it comes to real estate, there must be a meeting of the minds for a property sale to take place. The value a buyer applies to a property can vastly differ from the value a seller or lender places upon it. The seller, the buyer and the lender must find an agreeable value to attach to a property so the sale can proceed. This can be accomplished only when the listing price and the appraised value are as close to each other as possible.
Listing Prices:
Listing prices are influenced by the real estate agent, and set by … (1 comments)

texas home loan specialist: Mortgage Related Terms: "Shop Talk" - 07/16/14 02:21 AM

 
Understanding the “Shop Talk” between the various industry professionals is quite important. If you do not know the terms it may be a bit difficult to make a home buying decision, therefore we wanted to highlight the top terms that most borrowers will hear several times throughout the approval and home buying process.
We have assembled a list of key term and hope that this gives you greater confidence when discussing important topics that may impact your transaction.
 
Mortgage Related Terms:
·         Amortization Schedule: A schedule of payments showing the amount applied to the principal and interest through the … (0 comments)

texas home loan specialist: House Problem Signs - 07/15/14 04:24 AM

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
(4 comments)

texas home loan specialist: Homebuyers CheckList - 07/14/14 05:35 AM

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
(1 comments)

 
Frank Marta, Texas Home Loan Specialist NMLS#: 245813 (Nuhome Mortgage)

Frank Marta

Texas Home Loan Specialist NMLS#: 245813

Houston, TX

More about me…

Nuhome Mortgage

Address: 1445 N Loop West Ste 105, Houston , Tx, 77008

Office: (713) 373-0345

Mobile: (281) 250-1561

< >Feedjit Live Blog Stats< >Feedjit Live Blog Stats< >
* Required **< 100 taken as % of List Price List Price * Down Pymt. ** Interest Rate * Years * Annual Tax ** Annual Ins. Monthly Pymt.
< >
< >


Links

Archives

RSS 2.0 Feed for this blog