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 email@example.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 firstname.lastname@example.org
2021 Budget Adopted
City of San Antonio’s Fiscal Year 2021 Budget Makes Investments in Public Health, Housing and Workforce Development
SAN ANTONIO (September 17, 2020) – Today, the City Council unanimously adopted the $2.9 billion Fiscal Year 2021 Budget, which is $4.4 million lower than last year’s budget, stays well below the statutory cap on property taxes and continues to invest resources in the four pillars of the Recovery & Resilience Plan, which includes keeping people in their homes, training people to secure jobs that are available today, supporting small businesses and improving digital connectivity for residents.
“The goal of the fiscal year 2021 budget is to maintain the city services that our residents expect, while also helping them recover from the devastating economic and health impacts of the COVID-19 pandemic,” said City Manager Erik Walsh. “We’ve been able to make meaningful investments in the services our community asked for, including public health, housing and human services, such as resources for mental health and support for those experiencing homelessness.”
The FY 2021 Adopted Budget invests $346 million in the community to vital services including health, housing, education and human services; this is in addition to the $291 million from federal grants targeted to assist the City with the response and recovery from the COVID-19 pandemic. Additionally, as part of the continued response to COVID-19, many departments, such as Metro Health, Fire, Neighborhood & Housing Services, Economic Development and Human Services, have changed their focus to address the challenges brought by the COVID-19 pandemic and help San Antonio recover from its effects.
$45.8 million is allocated to Metro Health, including $20.3 million in the General Fund, which is a 29.6 percent increase compared to the FY 2020 Adopted Budget, the largest proportional increase of any department. The Adopted Budget creates a new Violence Prevention Division in Metro Health with a total investment of $8.9 million, including $1.3 million in new funds, and the transfer of 20 Crisis Response Team employees from the San Antonio Police Department to Metro Health.
The adopted budget also includes $1 million to expand the Healthy Neighborhood Program and to create a new Community Health Connector Partnership and augment other public health programs. The adopted budget also adds $120,000 to add 12 healthy corner stores in Districts 1, 2, 4 and 7, while maintaining support for the eight stores in District 3. This program provides healthy food options to areas that lack access to grocery stores.
The FY 2021 Adopted Budget allocates $27.5 million for affordable housing initiatives. This allocation also includes $300,000 for new legal kiosks at key city locations to assist at-risk populations.
The adopted budget includes $486.5 million for the San Antonio Police Department, an increase of 1.7%. Nearly all of the increase is contractually-obligated (by the collective bargaining agreement with the police union) or state law-required. The proposed budget reallocates $1.6 million from the police budget to accept a federal COPS grant to hire 25 new officers focused on preventing domestic violence and reduces overtime for police officers by $3.4 million.
The FY 2021 Adopted Budget also introduces a deliberate process to address foundational issues within the police department, review police services and engage the entire community on expectations. The San Antonio Police Department responds to more than 2.1 million calls for service per year, some of which may be more appropriately handled by other departments and service providers. The process will review foundational issues, such as accountability and discipline of officers, determine the community’s expectations of the police department, incorporate community input and identify funding and alternative response mechanisms. A draft plan will be presented to the City Council by April 2021. Negotiations for a new Collective Bargaining Agreement with the San Antonio Police Officers Association will begin in the spring of 2021.
Support for Residents Experiencing Food Insecurity
The budget also invests $1 million in the San Antonio Food Bank’s Culinary Center. The project will provide more prepared meals for families experiencing food insecurity. The center will also increase Culinary Training program class size, provide space for on-site nutrition education classes and allow the San Antonio Food Bank to be more prepared in the event of a natural disaster or future pandemic.
The General Fund, the largest operating fund in the proposed budget, is $1.28 billion, which is a 0.7 percent increase over FY 2020. The increase is primarily due to compensation increases from the collective bargaining agreements with the police and fire unions. The Adopted Budget includes new and existing investments in community service priorities. These investments include:
- Small business support: additional $500,000 that partially reinstates a City fee waiver program and an establishes a new entrepreneurship program
- Violence Prevention: a new division in Metro Health with a total investment of $8.9 million, including $1.3 million in new funds and the transfer of 20 Crisis Response Team workers from SAPD to Metro Health
- Affordable Housing: $27.5 million to assist residents at risk of displacement and facilitate the development of affordable housing
- Homelessness and Mental Health: $36 million investment, representing a $1 million more than FY 2021. $560,000 will allow the City to expand the Homeless Outreach Team created through the recovery and resiliency plan resulting in 11 district outreach Teams (one per district and downtown). $500,000 is added for an alternative mental health response option
- Healthy Food Access: $120,000 to add 12 healthy corner stores in Districts 1, 2, 4 and 7, while maintaining support for the 8 stores in District 3
- Education: $1.1 million to AlamoPROMISE to provide college scholarships to Alamo Colleges students
- Human Services and Workforce Development: $24.3 million for delegate agencies providing critical services to San Antonio residents
The General Fund also adapts to a new fiscal reality and the impacts of COVID-19 by including $87 million in budget cuts over two years ($38 million in FY 2021 and $49 million in FY 2022) due to revenue reductions caused by the COVID-19 pandemic. Some the of the reductions include:
- Reduction of $14 million through City hiring freeze for most vacant positions, no pay increases for City employees, and other compensation adjustments
- Suspension of economic development incentives saving $5.5 million
- $3.4 million in reductions to the Police Department overtime budget and suspension of Police Cadet Hiring Bonus program ($739,500)
Girl Scouts Announces First Black CEO in the Organization’s 108-Year History
Nationwide — Judith Batty, a lifelong Girl Scout and board member, has made history as the first Black CEO of the Girl Scouts of the United States since the organization was established 108 years ago.
“When I was young, the Girl Scouts instilled in me the courage, confidence, and character that have guided me through my life and career. It is an incredible honor to bring those lessons back full circle to help the Girl Scouts navigate this transition,” Batty said in a statement released to the press.
For so long, Batty was a Brownie in the Girl Scouts and eventually served two terms on the National Board. She also served as senior legal counsel and an executive for a Fortune 100 corporation, where she became the first woman and first Black general counsel to one of the company’s overseas affiliates.
Batty was handpicked by the GSUSA to take over the position after the previous CEO, Sylvia Acevedo, announced her resignation. She will be the one responsible for leading the staff and council leadership in laying plans to for the organization’s further improvement.
“As families across the country contend with so much uncertainty and upheaval, I am committed to ensuring that the Girl Scouts continues to offer a shelter in the storm – a place where all our girls feel welcome, can find community, solidarity, leadership opportunities and fun, despite the challenging moment we are all collectively living through,” she said.
The Promised Land is Yours
Do you live, work, visit, worship, play, or just pass through the 78220 area? Better yet, maybe you are looking to add a new favorite menu to your curbside/carryout food repertoire. Well there’s a new chef in town serving up a variety of delicious flavors located in the heart of the Eastside of San Antonio.
Located at 3363 E. Commerce, Ste. 102, the Promised Land International Flavors kitchen is now open and serving a multitude of flavors from around the world. The idea behind the new location is to provide a missing variety of foods that offer nutritional value and address various health needs in the community while still providing a flare of flavors. The kitchen is open Monday – Friday with breakfast from 8 a.m. to 10 a.m. and lunch from 12 p.m. to 3 p.m. On any given day you can find Italian, Asian, Latin, Southern Soul, American dishes and more. According to some of the neighboring residents and customers in the building, the Mexican Enchilada plate and the Italian Pasta with shrimp are some of their absolute favorites.
Executive Chef Fred Johnson brings his 40 plus years of experience to his new venture Promised Land International Flavors. Chef Fred grew up in a military family and then later served in the Navy himself. His passion for culinary arts began when he was just 14 years old. Realizing he was blessed with the gift of culinary skills, Chef Fred pursued his passion. His blessing has afforded him the opportunity to teach Airforce and Navy Basic Culinary classes, he’s managed a Zio’s Italian Kitchen, he once cooked at a dinner that included the late President Ronald Reagan and First Lady Nancy Reagan, and prior to his recent end of June 2020 retirement, Chef Fred cooked seven days a week on the U.S.S. Frank Cable AS-40 ship for 1,200 servicemen when the pandemic hit. So, this well traveled Plainview, Texas native is no new kid off the block, he’s got game!
Promised Land International Flavors had a soft opening July 5, 2020 for the residents and building tenants and currently is now open and serving the public. Promised Land International Flavors is also available for small catering events. For more information visit http://promisedlandif.com/, https://www.facebook.com/PromisedLandif/, call (210) 238-2625, or just stop by and place your order to go.
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