By Lisa Harrison Rivas
If you’re thinking of buying a home soon, now is a good time to get your financial house in order. But where do you start?
Understanding what is required to obtain a mortgage can be confusing and overwhelming, especially with so much information available on the internet.
Maurice Matthews, a loan officer with Gold Financial Services at 2822 N. Loop 1604 in San Antonio, suggests prospective homebuyers sit down with a lender before house hunting.
Matthews, who has been a loan officer for 14 years, discussed his job and what people should know about the mortgage process.
Q: When people find out you’re a loan officer, what are some of the first things they ask?
A: The first thing they ask is what is the interest rate. And the interest rate is determined by a lot of different things. A lot of times, people just don’t understand the depth of what the interest rate is determined by. It’s determined by the credit score and the loan amount size. People also ask what their payment might be.
Q: Do you specialize in a certain type of loan?
A: Being prior military (Air Force), I specialize in VA loans. I can do all loans, but I guess I’m sort of partial to military loans. This is a military town. I love my veterans. The VA is probably the best loan out there because it requires no down payment and there is no mortgage insurance on the loan.
Q: What should people know before applying for a home loan?
A: Before you have your Realtor run you around, you need to know where you stand with your credit score and with your debt ratio. You need to know if you qualify, if you’re a qualified buyer, that’s what a Realtor wants.
Q: How long does it generally take for an applicant to find out how much he or she is qualified for?
A: I can tell them the same day. Once I see where their income is, I can have a really good idea of if they’re qualified or not.
Q: Which type of home loan do most people get?
A: In San Antonio, most of them are VA. But people are hedging toward FHA loans. An FHA loan allows them to get a bit more buying power as compared to a conventional loan. FHA allows them to put 3.5 percent down and the debt to income ratios are not as stringent which again allows people to have more buying power. (FHA guidelines recently changed allowing some applicants to borrow more.)
Q: What do you consider a low credit score?
A: The low on the FHA is about 580. Now if you do what we call a non-qualified loan, which is anything outside of your standard loans such as FHA, VA or USDA, lenders can go a little bit lower than a 580 credit score. But with that there are a few more hurdles that borrowers might have to climb. They might have to put more money down. It’s a case by case basis.
Q: What are some of the financial mistakes prospective homebuyers make during the loan process?
A: Going out shopping. I tell clients not to spend or look at anything until you close.
Q: Can you share an unusual scenario you’ve come across in your career as a loan officer?
A: Man, I’ve seen it all. But when it’s all said and done my objective is to help people. For some it might be immediately, some a year from now. My goal is to help in every single scenario, regardless of what it is.
Lisa Harrison Rivas is a Realtor with Berkshire Hathaway HomeServices Don Johnson, Realtors. Contact Lisa at 210-380-9006 or firstname.lastname@example.org
Maurice Matthews is a loan officer with Gold Financial Services, a full-service mortgage banker. He can be reached at 210-366-1070 or email@example.com
Getting Blacks Back To Work
Unemployed African Americans Can Upload Their Resumes to BlackJobs.com
The global COVID-19 pandemic has all Americans feeling financially burdened, but more African Americans are being affected as there are currently more than 20 million unemployment claims across the country. Experts say that Black unemployment could eventually be as high as 30%, but one web site, BlackJobs.com, is helping to solve the problem.
The web site easily allows qualified job seekers to connect with employers who are committed to diversity hiring. The site allows users to easily upload the resumes for free, and even link their resume with their existing LinkedIn account.
But are there really jobs available?
Yes! Although there has been an exponential loss of jobs in the past month, there are still new job opportunities being created daily. In fact, the demand for work-from-home professionals has skyrocketed due to social distancing mandates. There are also many new customer support-related positions on the rise, as well as jobs in healthcare, higher education, off-site IT, delivery services, etc.
BlackJobs.com, which is free to use for those who are unemployed, is an immediate solution to the drastic loss of jobs and Black unemployment in general.
Microsoft to Partner With Huge HBCU Hiring Event For Software and IT Professionals
Nationwide — HBCU Connect and Microsoft have partnered to offer an amazing opportunity to software engineering professionals. On February 13th, the two companies will host a special Recruitment and Networking Reception in Dallas, Texas for HBCU grads turned tech professionals interested in working for Microsoft.
At the event, participants will learn more about Microsoft and converse with Microsoft recruiters and hiring managers with the unique opportunity for candidates to land next day interviews on the 14th followed by same day job offers!
Event Date: Thursday, February 13th, 2020 – with next day interviews and offers on the 14th
Event Time: 5:30pm to 8:30pm
Event Location: Dallas, Texas – Exact location provided with confirmed registration
Microsoft has hundreds of openings for software engineers and technical program managers, so whether you are a coder or have progressed into program management with a background in software engineering, you really need to make it to this event! Microsoft offers a great work atmosphere, great pay and benefits, crazy room for advancement, and a progressive work environment.
The team behind the event is Microsoft “COSINE”, which stands for Core Operating System and Intelligent Edge technology. As a part of the Microsoft Cloud + AI division, the COSINE organization delivers technologies and solutions that establish the OS platform foundation across Microsoft’s everchanging product lines.
The COSINE organization within Microsoft would like to hire as many Software Engineers and Technical Program Managers as possible from the HBCU Connect hiring event. So, if you have experience developing code in C++, Java, C# or other modern programming languages, or you used to write code but now have years of experience as a program manager, you should register to attend this event.
While most of the opportunities will be at Microsoft’s headquarters in Redmond, WA, Microsoft offers a very competitive salary and relocation package for potential employees. Microsoft also has a thriving community of Black professionals, many of which are part of their long-standing employee resource group called Blacks at Microsoft (BAM).
This is a very unique opportunity for software professionals to get their foot in the door at Microsoft.
How to register:
Space is limited! Submit your resume and contact information at www.hbcuconnect.com/resumes or email your resume to firstname.lastname@example.org
Companies interested in discussing the execution of similar events, and/or leveraging HBCU Connect in support of their diversity hiring strategies, should contact us at email@example.com.
For individuals interested in attending future events hosted by HBCU Connect, register at www.hbcuconnect.com/resumes.
Leader In Fostering Diversity
TV ONE NAMED AMONG TOP COMPANIES FOR PEOPLE OF COLOR BY COUNTRY’S LEADING ORGANIZATION FOR DIVERSITY IN THE COMMUNICATIONS INDUSTRY
TV One was recently named one of the Top Companies of 2019 for People of Color by the National Association for Multi-ethnicity in Communications (NAMIC), the premiere organization focusing on cultural diversity, equity and inclusions in the communications industry. As announced by NAMIC, TV One was among the top five programmers and is recognized as a leader in fostering diversity and inclusion in the cable and communications industry. The findings were gleaned from the 2019 NAMIC AIM Report which ranked the top five operators and top five programmers. “It is an honor for TV One to be recognized by NAMIC as a leading company for diversity,” said TV One General Manager Michelle Rice. “We strongly believe diversity and inclusion are key business imperatives that cultivate a positive work environment for our employees to thrive. We will continue to invest and employ programs and strategies to retain and recruit both a dynamic and diverse workforce.”
Other top programmers ranked by NAMIC include AMC Networks, CBS Corporation, NBCUniversal and Revolt Media & TV; top operators include Altice USA, Charter Communications, Comcast, Cox Communications and Mediacom Communications Corporation.
“Building a diverse talent pool not only is the right thing to do, but also is essential for driving bottom-line results,” said NAMIC President and CEO A. Shuanise Washington. “These 10 companies are leading the way in adopting successful diversity and inclusion strategies that ensure we embrace differences and more accurately reflect the representation of our industry stakeholders as well as today’s workforce.”
Funded by the Walter Kaitz Foundation and conducted by Mercer, the survey captured organizational workforce demographics, diversity practices, non-traditional employee benefits, and other indicators of corporate commitment to diversity and inclusion. The survey also gathered information that enabled the creation of industry-wide Internal Labor Market (ILM) maps showing the workforce dynamics – hires, promotions, and exits – of people of color in the industry. Data is being used to determine the steps the industry needs to take over the next five years to recruit and retain diverse talent.
Twenty-one organizations participated in the survey, which represents an estimated 75.5 percent of the cable and communications industry’s workforce.
The full report is available at http://namic.com.
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