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Considering a Home Loan?

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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 lhrivas@realsa.com

Maurice Matthews is a loan officer with Gold Financial Services, a full-service mortgage banker. He can be reached at 210-366-1070 or mmatthews@goldfinancial.com

 

 

 

 

 

 

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Providing Shelter

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City, partner agencies prepared to provide shelter to homeless during cold night

SAN ANTONIO (February 10, 2021) – The City of San Antonio and its partner agencies are prepared to provide access to shelter and services to those experiencing unsheltered homelessness as the National Weather Service expects much colder conditions across the region beginning tonight and into the upcoming weekend, as an arctic airmass moves south into Texas.

There are chances for showers and even thunderstorms on Thursday as an upper-level disturbance moves over the region. Best chances for wintry mix of freezing rain, sleet and snow is likely to be late Sunday into Monday, according to the National Weather Service.

“The City’s Department of Human Services and its partner agencies in homeless services assist individuals facing homelessness by providing outreach, developing a relationship, and offering services daily,” City Manager Erik Walsh said. “In critical situations like severe weather, the City and our partners work even harder to reach those who are unsheltered and direct them to a safe and warm shelter.”

Haven for Hope is open for all individuals experiencing homelessness. All clients sleep indoors and are given cold-weather clothing, including warm jackets.  

New clients should present to Haven for Hope’s Intake (currently operating out of the Donation Center at 1 Haven for Hope Way) between 7 a.m. and 3 p.m., Monday through Friday. Households with children are welcome at Haven for Hope any time of the day or evening, 24/7.

After hours and on weekends, individualized services are available, to include cold-weather sleeping accommodations and cold-weather kits (sleeping bags, hand warmers, snacks and hygiene products). With the imminent cold weather, after hours sleeping will be expanded.

In addition, the Salvation Army Dave Coy Men’s Shelter provides overnight shelter at 226 Nolan St. Nightly enrollment begins at 3 p.m. daily through 8 p.m. Individuals will have access to restroom and shower facilities, hygiene products, a bed with clean linens and meals. Individuals must be 18 years or older and provide a picture ID at the time of enrollment.

The South Alamo Regional Alliance for the Homeless (SARAH), in partnership with the City of San Antonio Department of Human Services, organized a collection drive for cold weather materials, including jackets, blankets, socks, and more. These items are available for street outreach workers and those in need at the San Fernando Homeless Resource Hub located at 319 W. Travis St. Community members wishing to donate new cold weather gear can drop off donations at the San Fernando Homeless Resource Hub from Monday to Friday between 1 and 4 p.m. 

The City of San Antonio Department of Human Services’ Homeless Division, Haven for Hope’s Outreach staff, and other street outreach providers, offer assistance that includes encouraging clients to access shelter services, coordinating transportation to shelter intake, and distributing cold-weather gear such as warm jackets and sleeping bags. 

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Blazing Trails & Breaking Glass Ceilings

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Another HBCU Grad & Alpha Kappa Alpha Sorority, Incorporated member advances up the ranks.

Rosalind (Roz) Brewer, Board of Directors at Amazon and the current Chief Operating Officer for Starbucks will be leaving her position at the end of February to become the new CEO for Walgreens (Walgreens Boots Alliance, Inc.). Brewer is set to begin her new role in March. She will be the only Black woman leading a Fortune 500 company at this time.

Before becoming COO at Starbucks in 2017, Brewer’s accomplishments include her 22-year career at Kimberly-Clark Corporation, being the first Black and first woman to lead a Walmart business unit, she was president and CEO of Sam’s Club, and she previously served on the boards of Lockheed Martin Corp. and Molson Coors Beverages Co. Brewer’s work has focused on increasing minority representation in the workforce especially in leadership, expanding diversity, and growing companies and making them more competitive. In 2013, Brewer was named one the World’s Most Powerful Women by Forbes

Brewer is a 1984 graduate of Spelman College and member of Alpha Kappa Alpha Sorority, Incorporated.

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Michele Ghee New CEO of Ebony / Jet Magazine

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LOS ANGELES, Jan. 19, 2021 /PRNewswire/ — Bridgeman Sports & Media has installed Michele Ghee as CEO of iconic brands EBONY & JET.  This historically rooted brand celebrates 75 years of chronicling Black life in America. With that, it now embarks on its future with Ghee boldly holding the reigns.  A brand known for unapologetically documenting the courageous contribution of Blackness to the American landscape, its new CEO states,  “Everything we say will come through the lens of Black journalists. We will ensure there is a safe space for Black journalism to thrive. I’m a little Black girl from Oakland, CA. I’m not apologizing for any of it. Our voices matter. We are History in the making!” 

Michele Ghee, Photo Credit: Maya Darasaw

I’m a little Black girl from Oakland, CA. I’m not apologizing for any of it. Our voices matter. We are History in the making!Tweet this

This titan of industry understands the privilege and responsibility of stepping into a leadership role within the culturally embedded Ebony and Jet brands. “Mr. Johnson was a visionary who operated with courage. He made a commitment to the Black American journey and in the process, he left an unforgettable legacy,” says Ghee. 

According to the new CEO, Ebony and Jet will hold true to those simple fundamental principles of documenting stories of Black Culture as it raises the brands’ profile to reach a global community. “Our brands’ main responsibility will be to focus completely on what our beloved audience wants and needs with bold informed editorial, brilliant content, and the opportunity to connect with like minded people. Paying homage to Mr. Johnson’s legacy means that my team will carve-out and create our own path. We will NOT succumb to the status quo.”

Of this appointment new owner Eden Bridgeman states, “We are honored to have Michele Ghee at the helm to steward these iconic brands. With a proven track record over a storied career thus far and a passion to bring her life experiences to Ebony and Jet we are excited at the future she will create. The next chapter of Ebony and Jet’s history will be told for generations to come and having her continue to authentically document, innovate, and uplift the culture will be keys to our success.”   

(PRNewsfoto/EBONY & JET MAGAZINE)

Michele Thornton Ghee is proud and honored to serve as the CEO of 1145 Holdings LLC. The company includes all assets related to Ebony and Jet. She is charged with creating the vision and activating the strategy for these iconic brands as she steers them into the 21st century. The Brand value proposition will be embedded in Information|Inspiration|Inclusion. Ghee has worked in the media and entertainment space for over a quarter of a century. She has generated billions of dollars in revenue while working for some of the most powerful companies in the world including WME, CNN, A&E, The History Channel and BET Networks. While at BET, Michele created and ran the first and only network for black women: BETHer. This award-winning titan of industry is an expert in many areas including; leadership, culture, strategy, customer service, revenue generation, diversity, equity and inclusion and relationship building.  She currently resides in New Jersey with her husband Tony and two kids Taylor and Jordan.

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