Home Loans Radio 01.11.2025 With That Mortgage Guy Don- Heloc rates are getting lower and Dec was a record for Home Sales since Dec 2019

Home Loans Radio 01.11.2025 With That Mortgage Guy Don- Heloc rates are getting lower and Dec was a record for Home Sales since Dec 2019

Episode Transcript

Speaker 1 (00:00):
It's time for Home Loans Radio on real radio with
that mortgage guy. Don join the conversation text us at
seven seven zero three one. Now here's that mortgage guy done.

Speaker 2 (00:14):
Hey hey hey, hey, hey hey hey, good morning. You
were listening to the Home Loans Radio show with that
mortgage guy Don. That's right, we're here. We're doing what
we do every single Saturday. Good morning to my crew,
starting with you, m Jay, Good morning.

Speaker 3 (00:30):
Good morning to you.

Speaker 2 (00:31):
Are you and your places with the bright shiny faces there?

Speaker 3 (00:35):
Yep?

Speaker 2 (00:36):
Also here, the integral, the important, the intelligent, go on, incredible,
the handsome. Oh. I was using all I words, but
that's fine. We can go to the we go back
to the hs. I started with the a's, but I
was all fair. But the Fritz Man, good morning man.
So oh yeah. Here we are twenty twenty five again.

(00:59):
Second show of twenty twenty five. Feeling fresh, feeling little
cloudy out there, a little overcast today.

Speaker 4 (01:06):
It's getting better and better every day.

Speaker 2 (01:08):
I think we're almost finished with our week of Florida winter.
Is it well? I on the end, probably not. No.
We usually get a couple more jolts in February January
February do you see like the pictures from Atlanta.

Speaker 3 (01:20):
Oh my gosh, it is snowing in atlantap it did snow.

Speaker 5 (01:25):
It looks like brief warm up before colder air returns
to Central Florida. Right, yeah, I kind of liked it
being thirty degrees for two nights.

Speaker 2 (01:33):
I do like there are parts of it I like. Yeah,
I mean I like, I like it.

Speaker 3 (01:38):
If I don't have any place I need to go
stand in the weather, yeah, then I like it so much.

Speaker 2 (01:43):
Well yeah, the question always thinking, well do you work outside,
because if you don't, you don't get an opinion, right,
I mean, fair enough. But I do like that I
get to use my fireplace. I always have fireplace and
some wood. You know, you have to decide and when
it gets cold, are you gonna are you gonna burn
a fire log or you're going to do an actual
you know, full fire.

Speaker 3 (02:02):
Well, you know my favorite thing to burn?

Speaker 2 (02:04):
What is that?

Speaker 3 (02:05):
Pizza box?

Speaker 2 (02:05):
Those seem to go pretty good.

Speaker 3 (02:07):
Pizza box goes right up, So good, there you go.

Speaker 4 (02:10):
I thought you were going to be like I.

Speaker 5 (02:11):
Love I love burning one down. If you catch my drift,
win all right?

Speaker 3 (02:15):
Right right to four twenty left.

Speaker 4 (02:17):
Hand jazz cigarettes.

Speaker 3 (02:21):
Yeah, that's right.

Speaker 2 (02:23):
What do we talk about here? Mj hmm. Tell the people.

Speaker 3 (02:30):
I think we talk about mortgages.

Speaker 2 (02:33):
We do a little bit of that, We do a
little bit of the margin.

Speaker 3 (02:36):
The people want to know because I.

Speaker 2 (02:38):
Am a mortgage expert, right, and this is what I'm
doing every Saturday, So that you got it only makes
sense if you have a question about anything having to
do with home loans, mortgages, real estate, buying a home,
selling a home. You know you got to inherit it
at home. You don't know how to get the mortgage
in your name. You don't know how to get cash
out of a house. You don't know how to do
a heelock or any of that stuff. Commercial loans, SBA loans,

(02:59):
business loans reverse, Sure, we can talk about that.

Speaker 3 (03:02):
Oh, I think we should talk about homestead exemption.

Speaker 2 (03:05):
Oh this is the month. You know what, I didn't
even write that down.

Speaker 3 (03:09):
We got You.

Speaker 2 (03:12):
Gave me so much grief last year for doing it
eight weeks in a row. I go where I'm like,
I'll talk about that a little bit.

Speaker 3 (03:18):
But you can disappoint the people.

Speaker 2 (03:19):
Homestead exemption. Yeah, and you can text in those questions
you're wondering how do we find out what your questions
are so that Fritz and I and MJ can answer them. Well,
you text them to seven seven zero three one, that's right,
Or you can go to the website at that mortgage
or that mortgage guy Don dot com all during the week,
but today we're here, so you may as well, you know,

(03:40):
take advantage of that, sure and tell us what you're
doing out there. It's it's a gloomy Saturday morning. We
are doing our show live. We didn't stop at the
end of the year like a lot of other show.
We did the show during the week of Christmas, we
did the show after Christmas, we did the New Year's
the show after New Year's and here we are marching
on our second show of the Home Loans Radio Show.

(04:02):
This season, season seven of our our podcast is in
full force. We got the first episode up there and
you can always get to those at the website, or
you can follow me on Instagram at that Mortgage guide
Don and there you go. We're up to twelve hundred
and seven followers on the Instagram Case Your Keepers.

Speaker 3 (04:20):
Waby Wow twelve hundred, The Crested twelve hundred.

Speaker 2 (04:25):
That's right, man, that's I mean, wuld you expect.

Speaker 3 (04:30):
I'm so impressed your hard.

Speaker 2 (04:32):
Work four months ago when we were at twelve.

Speaker 3 (04:35):
You know, twelve now and twelve hundred. I know, that's amazing,
super impressed.

Speaker 2 (04:41):
What's going on with your week, Fritz?

Speaker 4 (04:43):
Oh god, you know, don't get me started now.

Speaker 2 (04:47):
I had a traffic ticket on the way out and can.

Speaker 5 (04:50):
I went to Dragonfly Sushi last night, very right, tasty place.

Speaker 4 (04:54):
Where's that that was over? I want to say, like
the I drive area?

Speaker 3 (04:59):
Okay, okay, yeah, yeah, like restaurant row ye.

Speaker 2 (05:03):
Okay, I've had sushi before, but not with dragonflies. Is
that is that? Is that good?

Speaker 3 (05:08):
They only live one day? Yeah, you got to catch
him in the morning, get him in the afternoon.

Speaker 4 (05:13):
Fifty dollars per bike. But man, was it worth it?

Speaker 3 (05:15):
No?

Speaker 4 (05:15):
It was really really good.

Speaker 5 (05:17):
The uh the the miso soup was we got it
with like blue crab truffle butter. It was delicious. It
was divine, really really fancy. And then it was it
was a late birthday dinner. And then we went to
the uh the Commissioned Bear Chamber on curry Ford and
UH tied one on and into the night right with

(05:38):
some Chaco bell.

Speaker 2 (05:42):
Boy.

Speaker 4 (05:42):
Last night was pretty rad.

Speaker 3 (05:43):
If you're out there like with your.

Speaker 4 (05:45):
Bingo scorecard, it was it was.

Speaker 5 (05:48):
I like some soup, sushi, some nice craft beers, and
then taco bus.

Speaker 3 (05:53):
Dart fancy and in dirty. That's how that's a good night.

Speaker 5 (05:56):
And then I woke up at seven thirty and I
wasn't hungover. I'm like, I'm gonna make some coffee.

Speaker 3 (06:01):
There you go, that's the taco bell. That's that's that's the.

Speaker 4 (06:04):
Power of the beautiful taco bell.

Speaker 3 (06:05):
But that is the power of taco bell before bed.
You are, You're good to go.

Speaker 2 (06:09):
There's two levels of that taco bell before bed. Yeah,
there's three. Really, there's where you, you know, eat the
tacos in the car before you get.

Speaker 3 (06:16):
Home, which is what you want because you don't want
to wake up in a pile of taco bells.

Speaker 2 (06:22):
I was going to ask Fritz were there?

Speaker 3 (06:24):
Did you got a shame in that?

Speaker 2 (06:25):
Did you see or touch any taco bell wrappers in
your bed this morning?

Speaker 4 (06:29):
I did not know.

Speaker 5 (06:30):
You never really want to, like, you know, get to
your car and you know, you got your bag with
your headphones and everything everything you need for the show,
and you just open it up and there's like little
pigadigayo tomato and shred.

Speaker 4 (06:40):
Of cheese just sitting where your ass is gonna go.
That's never like it good.

Speaker 2 (06:47):
That's yeah. When you eat them in the car. You know,
you step in the car first thing in this morning,
you're like, oh right.

Speaker 3 (06:52):
That's human and yeah, yeah, taking enjoy it on the
way to work. Throw a little cheese out the window.

Speaker 2 (06:59):
Yeah.

Speaker 5 (07:00):
Then yeah, if you party too much and then you wait,
you open up your car door and you.

Speaker 2 (07:04):
Go, oh god, that sounds delicious. We uh so is
the birthday season? Was that the finale? The wrap up
of the fritz fortieth birthday season? Yeah?

Speaker 5 (07:15):
I mean that was the tenth and my birthday was
the seventh, and we've been partying since the fourth, So
I think that's enough.

Speaker 3 (07:22):
He should be a solid ten days.

Speaker 4 (07:23):
Thank you.

Speaker 3 (07:24):
I absolutely think.

Speaker 2 (07:26):
We had a We had a blast at the Fritz
birthday party, The Lordy Lordie Fritz's forty Party. I named
it that no one else was.

Speaker 4 (07:33):
They were talking about it Thursday on the show.

Speaker 5 (07:37):
About uh it was let's see, Sabrina was out, so
it was Josh and Sea Lane and it was the
live read for the next episode, and Ceiling goes, yeah,
you're gonna like Donnie's a pretty nice guy, you know,
and they're like, pretty nice guy, what.

Speaker 4 (07:53):
Are you talking about?

Speaker 5 (07:53):
And then he's like, man, I saw photos of that
party and it just starts like it's it's Sonny out
and everyone's you know, drinking and you know, doing karaoke, and.

Speaker 4 (08:01):
Then the last photo it's pitch black night.

Speaker 2 (08:04):
Man.

Speaker 4 (08:04):
You guys raged all day at that party.

Speaker 3 (08:07):
Yeah.

Speaker 2 (08:08):
I started at one thirty, went into the dark. I
posted it, so that's where I was going. I posted
a few pictures on my Instagram at that mortgage guy,
don If you want to take a look at the
karaoke festivities, you can do it because you follow me
on Instagram. At that mortgage guy, don.

Speaker 3 (08:21):
I was convinced to do some karaoke, which I don't you.

Speaker 2 (08:24):
Nobody convinced you. You popped up like a jack in
the box on the second song.

Speaker 3 (08:28):
Come on.

Speaker 2 (08:28):
She was like, come on, kill on, kill on, kill
on maybe the third song.

Speaker 3 (08:32):
And the third the third come on. I was like,
all right, I was proud of you.

Speaker 2 (08:36):
You're you're bold man I I and and of course
Fritz that sings you know of course for a living. Yeah,
uh a karaoke you song? What did you sing? You
sing a bunch of stuff.

Speaker 4 (08:49):
I mean it was just like, you want to do that one, right?
I did a Dwight yoakum.

Speaker 2 (08:53):
Yeah.

Speaker 4 (08:54):
I didn't do car Ma Chameleon, that's my go to.

Speaker 2 (08:57):
You did one that your brother was going to do
that Dirt was going to do. I can't remember what
that one was out, but it's probably not suitable for air.

Speaker 4 (09:06):
Knowing my brother.

Speaker 3 (09:08):
A good time was had by all.

Speaker 2 (09:10):
It was fun. We had a blast. It was very nice.
I oh, we got to hang out with Papa and
Mama illin Fritz for a while. That was fun. Got
to chat with your dad for a little while. Always
great time and it was fun. We had a lot
of fun. It was so got to rest up for
next year. All right, then we'll do it all over again.

Speaker 3 (09:30):
Getting ready.

Speaker 2 (09:32):
You are listening in case you want what is this
that mortgage guy? Don I'm here with my crew, MJ
and Fritz doing what we do every single saturday. You
text in your questions comments, anything happen to do with
mortgage homelans. I'm an expert at that stuff and I'll
answer your questions here on air if you want. If
we don't get any we're just gonna talk about whatever
pleases us.

Speaker 3 (09:52):
Oh, please give us questions.

Speaker 2 (09:56):
One woven, You're.

Speaker 3 (10:01):
One Texas and a question that you.

Speaker 2 (10:04):
Got It's at the MJ reset button.

Speaker 4 (10:06):
Yeah, you guys, you guys talk for a little bit. Oh,
I got it.

Speaker 2 (10:13):
You got it all right? Well that's quick. You had
a little fun, you had a little side trip. Did
you want to bring did you want to talk about
that at all?

Speaker 3 (10:21):
Yeah? I went to see Sarah Silverman last night.

Speaker 4 (10:23):
It was that nice. I love it so much.

Speaker 3 (10:25):
I love her so much too, just just so much,
you know, so much.

Speaker 4 (10:30):
Absolutely hilarious.

Speaker 3 (10:32):
It was not hilarious. She was working through some stuff
about the death of her parents. So it was it
was it was important, It was poignant, It was thought
thought provoking, and sometimes funny, but not in a ha ha,
I can't believe you said that kind of way, which
is the kind of funny that we I have come

(10:54):
to expect from miss Silberman. It was a good time, unexpected,
an expected you know, level of serious what it was
a little bit of a door I was very much
looking forward to just like putting the world aside and
just laughing at all the absurd things that Sarah's.

Speaker 5 (11:14):
I would be the guy, like she's like really going
through through something really heavy right now.

Speaker 4 (11:18):
I would be in the back gun.

Speaker 2 (11:22):
Hilarious toes. I had read funny. I had read that
she had did she turned fifty, and that both of
her parents had died in pretty short order, but I
didn't know that that was going to be the show.

Speaker 3 (11:35):
Yeah. One of the first things she said was my
parents died, and everybody went on, and then she goes,
it's okay. They gave me an hour and a half
of material, and I thought, oh, how long is this show?
That's just like the is it gonna be like three
hours and it's going to be like we get through
this hour and a half of death material and then
we get to like the funny stuff.

Speaker 4 (11:54):
You immediately get up just to get another drink.

Speaker 2 (11:56):
You go.

Speaker 4 (11:57):
Honestly, it was just like.

Speaker 2 (12:00):
Going to see Uh.

Speaker 3 (12:01):
It took a big goal, but you know, I was like, Okay,
here we go.

Speaker 2 (12:04):
It's like going to see the Chili Peppers. They don't
play Bridge.

Speaker 3 (12:07):
Talking about I'm still mad the.

Speaker 2 (12:11):
Chili Peppers concert MJ saw where they.

Speaker 3 (12:14):
They said, don't don't come here. Expecting us to play
all our hits. I'm like, what, pretty sure, that's why
I'm here.

Speaker 2 (12:23):
That's what we're instead, we're going to do our hour
and thirty minute long new album, just jamming.

Speaker 3 (12:29):
We're just all going, each of us are gonna jam
for a while and you're gonna love it. And everyone
at La La Plue said peace out. The whole place
just exited left.

Speaker 4 (12:36):
Oh it was Lolla Pluza. So they don't care.

Speaker 3 (12:38):
Yeah, yeah, yeah, They're like, we.

Speaker 5 (12:40):
Made three point five million dollars showing up. Here's the
here's a Jimmy Hendricks cover.

Speaker 3 (12:47):
That would have been fun. It was literally they just
jammed like they thought they were a different kind of band.

Speaker 2 (12:52):
Like, you know, tonight, we're gonna do Journey. That's fun.

Speaker 3 (12:57):
As I left, I looked behind me and saw all
the people also leaving, like.

Speaker 4 (13:01):
Oh, reading from the California Wikipedia entry.

Speaker 2 (13:05):
Here you are listening to the Home Loans Radio Show
with that mortgage Guide Don Fritz and MJ. We're going
to be right back next segment to answer all the
questions you've been texted in two seven seven zero three one. Hey, Hey, hey,
it's that mortgage guide Don twenty twenty five is here
and the cold nights are coming. Get another reason why
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(13:28):
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(13:48):
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(14:09):
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Windows Florida dot com License number c GC one five
two seven six one three.

Speaker 6 (14:25):
Hey, this is Devor Roberts from the Jim Culbert Show,
and you're listening to Home Loans Radio on Real Radio.
Now back to the show with that mortgage guy Don Hey.

Speaker 3 (14:35):
Hey, if you've been listening, you might be wondering, what
is this show? Well, it's a mortgage show. Believe it
or not. We're going to get to that. So please
text me your mortgage questions. What you got whatich thinking about?
You're wondering, is it time to step in and get
a mortgage? Is it time to figure it out? Give
us your questions. We'd like them. Seven seven zero three one.
Looking forward to it.

Speaker 2 (14:55):
You know what I forgot to do in the first segment,
what's that mortgage news? That's right, That's why people don't know?

Speaker 3 (15:00):
Yeah, yeah, like what is this?

Speaker 2 (15:02):
What's going on in the world of mortgagin is? I'm John?

Speaker 3 (15:04):
I don't know. I can't wait to find out. Though.

Speaker 2 (15:08):
The biggest thing that everybody's been watching are the rates,
of course, and they have been not like a drastics
deep incline, but ever since about two weeks before the election,
they have just been kind of slowly trickling upwards. And
then this past week they were kind of I'd say
the last two or three weeks have been kind of sideways.
But the average rate i'm seeing on a thirty year fix,

(15:29):
it's probably about six point five for well qualified people.
On the fifteen years, we're still seeing them down in
the fifteen year range. Same thing. On the reverse mortgages,
we're seeing those rates down in the sixes, in the
fives in a couple of cases, and then and VA
loans we're seeing those down in the low sixes. So
rates are doing pretty good. We had an employment report

(15:50):
yes Friday that made the rates a little worse for
the afternoon. It's always odd how it works. But the
jobs report, you know, non farm payrolls came out saying
that we had added way more jobs than we thought
we were gonna add.

Speaker 3 (16:05):
So that ma badness.

Speaker 2 (16:07):
Yeah, So that makes the rates worse because when everything
is hummin on all cylinders, it makes inflation higher. So
it's a complicated formula, but all in all, overall, everyone
is predicting that they're going to keep, you know, coming
down throughout the year of twenty twenty five. They never
just go in one direction. It's always like they'll go
down for a while and up a little, down a little.
You know, if you look at the graph, that's why

(16:28):
you need a graph. It goes up and down. But
I think we're going to see a lot of improvement.
We are seeing. We had a record number of homes
sold in December really for since twenty nineteen. It was
the biggest busiest December in Florida for home sales. So
that that's an interesting sign. And a lot of that
has to do with the also having the highest amount

(16:49):
of inventory, meaning the house is for sale that we've
had in several years. Right now. That the inventory they
say a sixty to ninety day inventory, and that's kind
of traditionally what it's been pre COVID. It was alway
is you know, put your house on the market. You
might sell it in thirty days, but expect sixty, expect ninety.
Usually do a three month or a six month you know,
a contract with a realtor. And then we got we

(17:10):
got spoiled because during COVID, it was you know, people
put their house on the market on Friday and it
was sold by Saturday, and the people moved in on Sunday.
You know, I'm exaggerating, but there were a lot of
people looking because they were low inventory. Now the inventory
problem is corrected. So what I'm saying a lot of
people that I preapproved last year that either got disheartened
because they couldn't find what they wanted or for whatever

(17:33):
reason they decided to wait. They're all back. Everybody's calling
me to refresh those pre approvals that we did last year.
It's going to be a busy I think first quarter
for Homeland. A lot of people have been waiting, and
a lot of people say, you know, I can't wait anymore.
I don't want to wait anymore. I talked to a
I talked, now, go ahead. I like it.

Speaker 4 (17:55):
That's how I am.

Speaker 2 (17:59):
Dog gone. I was talking to a couple.

Speaker 3 (18:01):
This uh good.

Speaker 2 (18:05):
I need you guys to take this seriously. We are
we are, we are, go on. Let's just sing songs.
I like him. Oh.

Speaker 3 (18:19):
People were waiting and now they're not waiting. They're just saying,
you know what I want to do it I want
to get a house.

Speaker 2 (18:24):
I had a couple they're bursting at the seams. They
have a three bedroom place right now that they're renting,
and they have another baby. Do soon there's gonna be
six people in a three the house and they're like,
we need to move, we need to buy our house,
go to go.

Speaker 5 (18:39):
Kind of the opposite of how we bought our house.
In twenty twenty two, me and Misfritz, we had a
contingency buy where the couple their family was growing, she
was pregnant, and they had to get a bigger house.

Speaker 2 (18:52):
That's that's you know a lot of reasons people end
up moving, either from renting to buying, or from you know,
having that that small condo that was a person condo
to buying you know, when the when the family starts
to grow. So we're definitely seeing a lot of that.
I think it's gonna be a very busy purchase season.
If you did your pre approval, you know, anytime last year,
all you have to do is call back and we'll
refresh it. We'll get a couple of new past dubs,

(19:14):
a couple of new bank statements, and you'll be good
to go, ready to start looking again.

Speaker 3 (19:18):
When you do those, do you find that everything has
stayed the same, or sometimes people's situation got better, or
sometimes people's situation got worse.

Speaker 2 (19:25):
I haven't seen anybody who's has gotten worse. I think
everybody that we're talking about kind of new that they
were aiming for first of the year. Let's put you know,
let's let's look at the first of the year and
it's uh and and a lot of people are so
it's going to be a busy season, but I think
it's going to be a good time to buy when
we'll see some things coming down. Hopefully we'll get some
things coming back. The other last piece of news you

(19:45):
mentioned it earlier, is that this is the home seat
exemption week or month set exemption. Yeah, home set exemption
month January February. What does that mean, Well, if you
bought your house last year, then you have to file
your homestead exemption to show and say that you are
living in the house, and you go online to the
property appraiser's website. You show them your driver's license, you know,
your address, something with your mortgage statement or something that

(20:08):
shows you know that you that you're living there, and
then you get a break on your taxes, your property taxes.
You get a discount. It's usually around twenty percent or so,
and you get that in November when the tax bill
comes out. So that's important. If you did that last year,
you only have a two month window right now, January
and February. You got to go fillow that homestead exemption.
Anybody who bought a house last year, it looks like

(20:29):
you got some questions coming in. We want you do.

Speaker 3 (20:33):
I would like to get a business loan to start
my own plumbing company. Can I do this to start
a company to start a company, or do I need
to already have a business going. I have about fifty
thousand dollars saved and raised and I need about two
hundred k more. I have been a plumber for fourteen years,
but my bank told me I have to be able
to show two years tax returns for a business, which
I don't have yet.

Speaker 2 (20:54):
Yeah, we do SBA loans. We do business loans, and
we have over i'd say over one hundred banks right
now that we can work with. That we do work with,
and every bank on commercial loans is going to kind
of have their own rules to a certain degree because
it's there. You know, it's not if if if a
bank is giving you a business loan or a business
line of credit or something like that, that's one thing
they you know, they make up their own rules. Then

(21:16):
we have the SBA loans, which are kind of government
run but even those are the rules change from bank
to bank Because SBA doesn't really loan money. They guarantee
a portion of the loan, like around thirty or forty percent,
which makes the banks you feel more comfortable about loaning
the money. Yeah, so what was the second part of

(21:36):
the question, Oh about the plumbing. So they a lot
of companies, a lot of places are going to tell
you that you can't get a business loan without two
years of business history. Business you do an SBA start
up plan, which is something that we do all the time.
I've done quite a few of them, and this is
like the ideal candidates. When you know your business, you've
been doing your business, you can you can get a loan.

(21:58):
You can get up to maybe three hundred fifty thousand
dollars working capital loan. If you don't need that much,
you can get a smaller one. And what they look
at is your your past, your history, your level of experience,
your level of licensing. You know what you've done, and
then they also want you to have a little skin
in the game yourself. A lot of people think you
do a business loan on your on the business's credit,
which obviously isn't there, but it's actually on your personal credit.

(22:21):
You can get up to the point where your business
has built up credit and you can do loans that way.
But ninety percent of people when they're doing a business loan,
they are doing it based on their personal credit, especially
when you're starting a business. And so what they'll want
the SBA wants to see usually ten percent or twenty
percent of the loan amount. They want you to put
your own cash injection into the new business. And I
think they said they had forty to fifty thousand in
the question.

Speaker 3 (22:41):
Yeah, they said they had fifty thousand dollars.

Speaker 2 (22:43):
So you know, so if you get a two hundred
thousand dollars loan, they want you to put somewhere between
twenty and forty of it into the business yourself. But
it's still your money, it's in your business. So that's
definitely something that's doable. The easiest way to find out
is to go to the website or go to Instagram
at that mortgage guide don and you can there's a
there that says commercial loans on the commercial loan page.
You just click that and fill out the info and

(23:04):
I'll get in touch with you and well, we'll get
it started.

Speaker 3 (23:06):
Here's what I says. Hello, Don, I'm jan Fritz first
Happy birthday, Fritz, bring and Cary listening and cleaning for
an open house to sell their house.

Speaker 2 (23:14):
They have been doing a couple open houses. I think
I think it's time. I'm feeling I'm feeling like January
is going to be the time for them.

Speaker 3 (23:22):
But they want us to know that they learned a
lot about grant programs that some homes are eligible for,
and that was very helpful for them.

Speaker 2 (23:29):
Yeah, there's a lot of grant programs out there. The
easiest way to find out is to at the website.
You can do a pre approval application to buy, and
when we run that, if you're a first time home buyer,
will look through all the programs that we have for
grants for down payment assistants and bring those to you
as well. You can't really do it beforehand, Like people
call me up and they say, well, what tell me
what you have for down payment assistant And there's fifty

(23:50):
programs out there. We've got to We've got to do
the pre approval, which is kind of like the you
know when you go to the doctor, you get it.
You got to do that check up before they can
prescribe you whatever your you know, treatment you need. It's
kind of it's same way with us. You got to
we got to look at the situation and figure out
what you qualify for. Because some down payment assistance programs
are based on income, some have income caps, some are
based on a credit.

Speaker 3 (24:11):
Score, some are based on where the home is, so.

Speaker 2 (24:13):
Some are not even well, some are based on where
the home is that you're buying, and some are even
based on where you're renting or living. Now. There are
grants that just based on the census tract of where
you are. You can be living with your parents if
that's one of the first things we do. We pop
in the address you're living. There's a search tool and
it will tell us if there are any grants based
on where you're living now. So there's a lot of
things out there, but we've got to do the work.

(24:33):
It's not like I can just you know, people want
me to email them a list of the grant programs
that it doesn't quite work that way. We got to
do it as a preapproval and then then it's very
targeted and we can make sure what we're talking about
is actually something you can get. Awesome, great question. Thanks
for texting that into seven seven zero three to one.

Speaker 3 (24:50):
Here's a question. So my wife and son owned my
house until Christmas, my wife and son. Now myself and
my wife own it and our son is off of it.
Do I need to redo the homestead? Well, so the
wife and the son owned the house and now this
person and the wife own it and the sun is off.

(25:10):
Well they change who owned it.

Speaker 2 (25:12):
Yeah, I don't think you would have to change that
because the I mean you could go in and correct
the ownership at the property of Appraiser's office, but you
and yours on the website, I mean on the website Shore. Yeah,
you and your spouse are still on the deed and
title and you still followed your homestead exemption, so it
doesn't go away. But you can, you can take a
person off of it just so they have accurate records.
But they're two different department, they're two different things. I

(25:33):
see the place where the property Appraiser's website where you
go and file your homestead exemption is different than the
other one. You're listening to the Home Loans radio show.
We'll be right back after these messages.

Speaker 4 (25:45):
Hey, this is Ryan from the Monsters. And now back
to that mortgage got done on Real Radio.

Speaker 5 (25:50):
Oh yeah, the greatest Saturday radio show in the history
of Saturday radio shows to uh, this.

Speaker 4 (25:56):
Is home Lands Radio. I am Fritz. We got MJ
and that mortgage got done.

Speaker 5 (25:59):
If you have a question about buying a house, selling
a house, refinancing, heylock loans, you name it, that mortgage
guy Don will answer it live on air. Just text
it to seven seven zero three one. You can also
follow him on Instagram. Instagram Watch is an effect. And
that's at that mortgage guy done.

Speaker 2 (26:18):
That's right. We got to get to we haven't set
the goal yet. We got to get to two thousandi.
What's what do you think is a reasonable goal? M Jay?

Speaker 3 (26:25):
Seems to be happening pretty quick now.

Speaker 2 (26:27):
Maybe one point five million, that should be the goal.
All right, well, let's just try for two thousand. Let's see,
we're gonna worried.

Speaker 4 (26:42):
Oh, that should be the goal.

Speaker 2 (26:44):
We're going really, we're going to try for two thousand
and nine by Valentine's Day?

Speaker 4 (26:52):
All right, two nine, feeling nine five?

Speaker 2 (26:57):
I like that, m Jay? You know what goal? Twenty
twenty five and twenty twenty five by Valentine's Day. You
can help me do it. Follow at that mortgage guy,
don why would you do that? Wow, there's such amazing
content on there. Well, for one, you can go see
some pictures of Fritz doing karaoke at his birthday.

Speaker 4 (27:15):
Party dressed up as a mobster slash Scotti pizza.

Speaker 2 (27:19):
That's right, very cool, a good Fellow's themed party. It
was super fun and you had three outfit changes during
the party as a birthday boy.

Speaker 3 (27:28):
Should you know that is the way of birthday divas.

Speaker 2 (27:31):
Yeah.

Speaker 3 (27:31):
At the party, you change your you change your enseng.

Speaker 2 (27:34):
The first outfit had a You had a full head
of bushy seventies black hair and a seventies mustache.

Speaker 3 (27:40):
Three different people said to me, I don't know where
Fritz is, And I said, you walked by Fritz on
your way here.

Speaker 4 (27:45):
That even my brother.

Speaker 2 (27:47):
Ye. There was someone who said I came in with
you know, with some beers in him and says, where
where's Jeff? Where's the birthday boy? I said, your butt
is nearly touching his butt. You guys were standing back
to It was a fun time. How about these fires
in California? Have you watched any of this on the news?

Speaker 4 (28:05):
Yeah, I saw the video of the couple driving through
the tunnel.

Speaker 2 (28:10):
I didn't see that one. I was I was watching
one one guy trying to get his father in law
out of the out of the mountains and they didn't
have a car, and Good Samaritans were picking them up,
and then all the traffic stopped and everybody had to
get up run and people with walkers trying to run
from the fire. And then like less than twenty minutes later,
all those cars burst into flames that were in the

(28:31):
traffic jam, just from the heat, like there were you know,
they're on a road, so there's not like the road's
not on fire, but there's just so much heat next
to the road that that that the car is just
spontaneously burst into fire. You know how hot that has
to be. That's incredible. You know, thoughts going out to
all those folks, but that's going to be a major
major deal for that.

Speaker 3 (28:49):
Watch some of it. It's just heartbreaking. I've watched.

Speaker 2 (28:52):
Yeah. Yeah, I had a couple I heard a couple
of people say, well, it's rich, rich people houses. No, No,
they were entire that entire city that burned. Yeah, and
a lot of them were houses that were small like
little one thousand and fifteen hundred square foot houses that
have been there since the twenties, like entire you know,
ten square blocks of houses. It's it's crazy, it's it's
an amazing thing.

Speaker 4 (29:12):
Have you guys seen that.

Speaker 5 (29:15):
It was like a side by side video of Joe
Rogan in July of twenty twenty four, and it was
like I was talking to a firefighter who said, it's
it's just a matter of time before La goes up.
And on the right side of the screen it's the
like January seventh, twenty twenty five, you know, the fires.
Then he goes, La just keeps getting lucky. All it
takes is a forty mile per hour sustained winds, a

(29:37):
dry winter. And on the right it was like, this
was the driest winter they've ever had and sustained winds
at forty five miles per hour, and he goes and
that fire is just going to go right through and
that's exactly what's happening.

Speaker 2 (29:47):
Yeah, And it's well, the forty mile wind is not
an if thing. It's almost every year they have the
Santa Ana wins, which is a seasonal thing, so you
can expect those really strong winds. Sometimes there they went
up to much higher than that.

Speaker 3 (29:58):
They were like fifty yeah, yeah they were hurricane hurricane.

Speaker 2 (30:01):
Sometimes they're you know, higher or lower. But it's an
annual phenomenon, and it's it's pretty crazy. I well, it's
you got firestorms in the California, you got snowstorms, and
in Atlanta and northern Florida even they got some snow
and winter storms here. It's just like it's like, it's
like that, what.

Speaker 3 (30:18):
Was it one of us falling out of trees in Miami? Right?

Speaker 2 (30:21):
Fire and ice? Anybody read revelations if it's one of
the signs. And I don't know.

Speaker 3 (30:27):
Here's someone who says this sounds silly, but I panic
about everything. If we were thinking of moving out of state,
would we need to be preapproved by somewhat in the
state we're moving to also best wishes to on the birthday?

Speaker 2 (30:37):
Good question, that's an excellent question. Yeah, I mean there
are there are companies. I mean, I guess it depends
on let me say this, to get the best deal,
you're going to want to get pre approved with somebody
that's in the state where you are. Why do I
say that, It's because it's really like three main ways
you can get a mortgage. You can get one through
your bank, you know, like wherever you do your checking

(30:57):
and savings. In my experience, they tend to have of
the highest rates out of the three choices where you
can get a mortgage. And why is that? I think
it's like it has to do with overhood. Overhead, you know,
like Wells Fargo has over five hundred branches in Florida.
Imagine the cost of that just on a monthly basis.
And so when you're doing mortgages, you have to make
up the cost of doing business out of what you

(31:18):
make on a mortgage and paying the people. The next
way you can do them is through a national retail bank.
So those you can get pre approved in any state
by calling you know, you don't have to call the
state you're in. But the retail leenders that's going to
be people big companies like Quickened Loans or Rocket Mortgage
or Loan Depot, which are you know, obviously there's solid
huge companies, but in my experience, their rates tend to

(31:40):
be about half a point or so higher than what
you can get through a mortgage a wholesale mortgage brokerage
and that's what I am. What we are as a
wholesale mortgage brokerage. That means that we deal with wholesale
banks all over the country that do Fannie Mae, Freddie
mac Va, you know, the regular government insured loans. But
they don't have fifty five hundred branches. They have one

(32:01):
place where they do where their bank is. They don't
have all the nowimal fifty states. They don't have those
client facing people sitting down in front of them doing
a mortgage. They rely on us, the mortgage brokerages, to
do that. So they save huge on their overhead and
their costs and their labor costs, and as a result,
wholesale mortgage brokerage is where you're going to find the
best rate in most cases. So you can go to

(32:23):
the state there and talk to a mortgage brokerage. There's
a good website you can use called mortgage matchup dot
com and you just put in the zip code where
you're thinking about buying and it will show you by order.
They're actually ranked in there. It's not something you pay for.
You're ranked by performance in this website and reviews are
on there. So you go there to mortgage matchup dot com.
You put in the zip code and it will recommend

(32:45):
like the top twenty mortgage brokerages in that area, and
then you can interview a couple people. And I think
that would be the best way to go. Great question.
Thanks for texting that into seven seven zero three to one. Here.

Speaker 3 (32:56):
Someone who says morning dry January is boring is boring.
But what I'd say is you feel so good, though,
don't you.

Speaker 5 (33:03):
Yeah, falling to like falling asleep immediately and then waking
up eight hours later in the same position is amazing, Like,
oh my god, that's possible.

Speaker 2 (33:14):
It's called sleeping on a pillow of chardinay.

Speaker 4 (33:18):
No, no, no, no, yeah, flip being.

Speaker 2 (33:21):
So the problem Fritz of dry January is your birthday
is right in the first week.

Speaker 5 (33:28):
Yeah, I mean, you don't see me doing it right.
And also you know, February has less days, my man,
you know what I mean.

Speaker 2 (33:34):
That's true.

Speaker 3 (33:35):
I do a thing called damp January not quite dry,
not quite dry. If I'm with friends and I'm doing
something out then and then I feel like a drink
is in order. But I don't drink at home during
January at all. Like, so there's no you know, no
wine with dinners. No, nothing like that. Instead of like drinking,
it's just much less. Maybe three times in the month
of January, I will have a drinker.

Speaker 2 (33:56):
I was going to say, do you got something planned
all thirty days?

Speaker 3 (33:58):
Yes, every day I have to find a friend and
say please meet me anywhere so that I can qualify
for a damp January or.

Speaker 2 (34:08):
Like MJ just go to Wallis and meet a new friend.
Everybody does it. It's fine.

Speaker 3 (34:14):
Yeah, you're right, Fritz, February is shorter.

Speaker 2 (34:17):
No, there you go. You are listening a lot of
people there it is, and a lot of people telling
me they're doing the you know, the draw, you know,
trying to drink, drinking, not drinking. I had someone tell
me they were doing a dry twenty twenty five and
I was like, well at that point, you may as
well just quit. And they're like, oh, no, I'm drinking
in twenty six.

Speaker 3 (34:33):
Yeah, I hyeah, it might not.

Speaker 2 (34:35):
They said, my liver is me and my liver are
renewing our vows. So there you go. There's all kinds
of ways to uh to go out of a thing.

Speaker 3 (34:45):
Well we can.

Speaker 2 (34:46):
Yeah.

Speaker 5 (34:46):
I was just gonna say, live your life. A friend
of mine at my birthday party. I was like, you know, yeah,
I think I'm done, you know, done drinking, because I
was like, you know, would you like to do a shot,
And he's like, no, I think I'm done. I'm like, cool, man,
that's awesome. As I'm pouring myself a shot. You know,
it's like different strokes for from folks.

Speaker 2 (35:01):
It's right, it's your birthday. That's that's not a time
to quit anything.

Speaker 4 (35:05):
To tell him to change his religion. I'm not gonna
tell him, no, you could take a shot.

Speaker 3 (35:09):
Oh no, that's that guy. Yeah No, that's rud Why
what's wrong with you?

Speaker 2 (35:13):
Body with me? It's rudrue.

Speaker 3 (35:16):
A lot of people, though, who do the year don't
don't ever drink again. They find out that within that year,
how much their life is enriched by uh, not drinking.

Speaker 2 (35:25):
This are the heels of the news that we've all
been seeing that they've decided that alcohol causes cancer.

Speaker 3 (35:30):
Yeah, scary stuff.

Speaker 2 (35:31):
And then they say the headline at the top, no
amount of alcohol is safe to drink. Because I guess
they used to tell you that a glass or two
of wine or whatever is good for you. Nowaday to drink.
Now they're saying that it's not so no thanks.

Speaker 3 (35:47):
Here's the one who says, selling my four hundred thousand
dollars house, what can I expect in my closing costs?
And putting down two hundred thousand on a two hundred
and fifty thousand dollars house, what can I expect my
mortgage to be? They have a great credits grade twenty.

Speaker 2 (36:00):
Well, we've got that's that's an excellent question. We're gonna
we'd have to answer that one after the break day.
We're coming up against the break here. You are listening
to the Home Loans Radio show with that mortgage guy Don.
M jan Fritz will be right back after these.

Speaker 4 (36:13):
Hey, it's Sabrina from the news junkie.

Speaker 5 (36:15):
Do you have a question for that mortgage gude down
Text him at seven seven zero three one.

Speaker 2 (36:20):
No.

Speaker 3 (36:20):
Back to Home Loans Radio.

Speaker 2 (36:21):
On Real Radio.

Speaker 3 (36:24):
Right you're listening to Homelands Radio with that mortgage guy Don,
and we're talking about mortgages and you're here for it.
You want to know what you don't think?

Speaker 2 (36:32):
You do?

Speaker 3 (36:33):
You maybe you're not sure, but you do you do
because you want a house one day. Tell them I'm
Jack or you want to get out of the house.
You're in we want to find a different house m hm,
or you just don't have a lot to do right now.

Speaker 2 (36:44):
There you go.

Speaker 3 (36:45):
Either way, welcome, We're going to do here.

Speaker 2 (36:46):
There you go.

Speaker 3 (36:47):
Please text me your questions is seven seven zero three one.

Speaker 2 (36:50):
We had one right before the break that we didn't
get answer. You want to you want to pop back there?

Speaker 3 (36:53):
Sure? Well, I'm selling my four hundred thousand dollars house.
What can I expect in my closing costs and putting
down two hundred on two hundred and fifty thousand dollars house?
What can I expect my mortgage to be? And the
credit score is grade eight twenty.

Speaker 2 (37:08):
Yeah. The when you're selling a house, I usually tell
people to figure roughly seven percent is the figure that
I use of your sales price would be what you
would expect to pay out you know, as the seller,
what are those well you're going to have if you
if the seller, usually the real estate commissions make up
a big part of that. So the if it's a

(37:28):
normal transaction, you know you have three percent to your
your listing agent that sells the house, and you have
three percent to the buyer's agent that brings the buyers
to buy your house, and then usually about a one
percent for the dock stamps on the deed you know,
and other other fees that you pay for the seller.
Usually it's the owner's title policy and the doc stamps
on the deed. So if you have a four hundred
thousand dollars house, you can figure I would say about

(37:50):
twenty eight thousand you know, would come out of that.
Let's just say thirty for easy mass, So you should
be able to walk away with three seventy minus whatever
you owe your mortgage if you have a mortgage, and
then you can kind of figure it out from there,
but you can get more accurate when you're selling your house.
Your realtor will be able to figure out, you know,
there's a sheet they can figure out, proceedge sheet they
can figure out to give you a good idea and

(38:10):
show you what those costs are and what the breakdown is.
But usually roughly about seven percent is what I calculate
in my head. The other question, what would a mortgage
be on a fifty thousand dollars loan? Probably not much.
You might have a hard time finding someone to do
a fifty thousand dollars mortgage. Fifty thousand dollars. Helock is
easier to find mortgages most slenders like, our minimum is

(38:31):
seventy five thousand, and it's not because we don't want
to do mortgages below that. It's because the fees that
are on a mortgage are federally capped. You can only
charge so much, and if you and it's a small amount,
so let's say a fifty thousand dollars mortgage, you can
only charge a total of three percent in fees on
the entire mortgage. That's not just the fees going to
the mortgage brokers. That's fees going to the title company.

(38:53):
That's fees going here, fears fees going there. So on
smaller mortgages, there's not enough fees to pay to do
the job, frankly, is what it comes down.

Speaker 3 (39:00):
Because you have to pay the title company no matter what.

Speaker 2 (39:01):
Yeah, they're not going to work for free, so you
have to pay. So we found that the place where
we can do it is right around that seventy seventy
five thousand dollars mark. You might find another lender that
can do it. Lower elocks are different, or you know,
equity lines are different, but they're going to have a
higher rate so you got to you got to weigh
that out. When it's time to do it, hit me
up at the website and I'll put together some numbers.
I'll see how low we can get and still make
it work. Other lenders, I'm telling you their lenders out

(39:24):
there that have a minimum I talked to someone yesterday
minimum of one hundred and fifteen thousand dollars loan. So
I keep ours at seventy five. It's like the best
we can do in most cases. But that's a great question.
Thanks for texting that into seven seven zero three one.

Speaker 3 (39:38):
Here's a question that I think I know the answer
to and the answer is, oh no. But the question is, well,
there be another Hometown Hero's program in the second half
of this year.

Speaker 2 (39:46):
That's a good question. Let me throw out. You're listening
to the Home Loans radio show right here on Real Radio,
and you can text into the show at seven seven
zero three one. You can also go to the website
that Mortgage Guide dot dot com and say it again,
will there.

Speaker 3 (39:59):
Be another Home Town Heroes program in the second half
of this year?

Speaker 2 (40:02):
So let me tell you what that is. For folks
that don't know, Hometown Heroes is a let's say, was
for the last three years down payment assistance program from
just the state of Florida, and it allowed Initially it
was only first responders and people like that three years ago,
and then they opened it up to be basically anybody
employed by a company where they have bricks and mortar

(40:23):
in Florida. Your company does, and also you could you
could make up to one hundred and forty four thousand,
which was unique for down payment assistance programs because most
of them cap much lower than that, like if you
make too much money, you can't get the down payment assistance.
And last couple of years they've announced right beforehand. They
came out July first, the last couple of years, and

(40:44):
last year was one hundred million that they put into
that fund. It was gone by the end of August
July first, and then it was gone by the end
of August, so less than two months they ran out
of those funds. And they didn't announce for sure that
they were going to do it again until June. So
a long story to tell you a short to answer.
I don't know, but we'll find out in June. And
if you listen to the show or you follow me

(41:05):
on Instagram at that mortgage guy done, You'll be the
first to know because I will certainly post it when
it comes up. Yet another reason to follow on Instagram.
If you were waiting for hometown heroes to come back,
follow me on Instagram at that mortgage guy done, You'll
be the first to get the announcement.

Speaker 3 (41:18):
So when it did come around before, is it something
that legislature voted on or is it something that just
came through from Tallahassee.

Speaker 2 (41:24):
It came through from Tallahassee, and I didn't do a
whole lot of digging to find out exactly who the
path authorizes it. Whether there's a special budget, whether it
was a vote, whether it was a bill. I don't know,
you know the exact details of it, but it was
from the State of Florida's budget. Yeah, so I don't know.
Maybe they look and see how much they have left over,
because the year before they only did fifty million. Then

(41:48):
the next year they did one hundred million. But the
year they did fifty million, they came back later and
did another I believe, twenty million later in the year.
So it's we don't know what they're going to do.
But I tend to think it has to do with
what the budget looks like after other things are paid for.
Would be my speculation.

Speaker 3 (42:03):
Okay, here's what I says. I have paid for one
and a half acres with a portion on it that
has a home in it. Should I divide that portion
to sell the side with the home, which would leave
me with an acre and money to build future rentals?
Or should I keep the whole thing and ask the
bank for a loan to build? So what are their
options there? Well, it seems like they want to build
future rentals.

Speaker 2 (42:23):
Mm hmm. It could depend on your experience with that,
because we may be depending on whether you're talking about
a duplex or a four plex, or if you're talking
about twelve town homes. Those are different kind of loans.
We do all the construction loans. I can do residential
construction loans. I can do business construction loans. So if
you're and and once you get over four units, it's
considered a business type loan. So we'd have to kind

(42:44):
of analyze your financial picture and see before we decided
about the property you're still going to need. Well, if
it's free and clear, we can use the value of
the property and the value that's there now to as
equity on the construction. So there's a lot of things
we can do. There's different ways to go at this.
I need a little bit more info, but definitely get

(43:04):
with me at the website that Mortgage Guy Don dot com.
There's a boxer that says, asked on a question, just say, hey,
I talk to you about this construction thing on air,
and then we'll connect and have a phone call were
and gather a little more info. But there's definitely options
for that. And owning the land already is good because
it counts as a down payment. Great question. Thanks for
texting that into seven seven zero three to one. Did

(43:27):
you did you read about? I was? I was, oh,
actually we got to take a break.

Speaker 3 (43:32):
No, you know what what.

Speaker 2 (43:35):
I was getting ready to talk about. I'm not going
to talk about it. We'll talk about it right after
these messages. Hey hey, hey, hey, hey, hey hey, welcome back,

(44:14):
Welcome back. You're listening to the Home Loans Radio show
with that Mortgage Guide Don right here live on Real
Radio one four point one on a Saturday morning, doing
what we do. Boy, we're in twenty twenty five second
show of the new year. You can join us for
another thirty minutes or so text into seven seven zero
three one. You can also follow me on Instagram to

(44:35):
get all the coolest things and be one of the
coolest kids at that mortgage guide Don. You want to
see a couple of picks from the Fritz's birthday party,
you can check those out the karaoke festival and you
can also go to the website that mortgage guid don
dot com. That was a face paint. Was the name
of that songwriter, Fritz.

Speaker 4 (44:55):
That is correct, the mundo that's.

Speaker 2 (44:57):
By one of Fritz's one hundred and ninety four ends
for it, and we It was fun meeting I've met
so many people at your party that I had I've
heard their music on your album, on your podcast or yeah,
and I got to meet everybody that was That was
so fun.

Speaker 4 (45:12):
It was like a Nicky Boys, Pry Spry, Yeah.

Speaker 2 (45:15):
Yep, yep, nick Spry, Angela and man Daddy, all those folks,
Uh Whalen, all the guys. Everybody was there. It was
a fun time. It's funny to be at a party
with a lot of musicians and creatives and people that
want to sing and people that want to do karaoke.
It's a lot of fun. It was a great time,
but now I'm coming. I wouldn't have it any other way.

(45:38):
Even if you hadn't invited me, I still would have
been there. And you know that thanks for including may
as well invite them.

Speaker 3 (45:45):
So I got some questions for you.

Speaker 2 (45:47):
M Day's got some questions for me that you have
texted in the seven seven zero three one you you
can join the party too.

Speaker 3 (45:53):
What do you think about a reverse mortgage? My dad,
eighty yo needs to do a lot of home improvements
to keep insurance coverage. Needs a new roof, too hot water,
here said an update electric box. He's eighty yo.

Speaker 2 (46:07):
I believe the yo means a year old.

Speaker 3 (46:09):
Maybe maybe they met eighty year but they said eighty yo.

Speaker 2 (46:15):
What I hear?

Speaker 3 (46:16):
It's like eighty yo?

Speaker 2 (46:17):
Yo? Allow, I'm down yo. That is eighty all right.

Speaker 3 (46:21):
He needs a new roof, he needs too hot water eaters,
he needs update electrical box, and it's gonna cost eighty
five K and he does not have the savings or
enough income to get alone. I'm worried because I've heard
good and bad things about reverse mortgages. But I trust
your opinion from listening to your show for so many years.
First of all, thank you for.

Speaker 2 (46:38):
That, Thank thank you for listening. My opinion on reverse
mortgages and there's people that have good there's people that
have bad. But my opinion is if in the right situation,
it is an absolute life saver, my lifesaver, house safer
keeps can keep you from from losing your house. And
I had another couple recently there was in a similar situation.
Their roof was going to be ninety five thousand, and

(47:00):
it was one of those tile roofs, and it was
actively leaking. Like they had two rooms in their house
where the dry wall had fallen down because the roof
was leaking. They had no money to replace it. They
they were, you know, the family member, the kids. They
were trying to take out loans on their house to
help mom and the parents, and you know, then they
looked into the reverse mortgage, and in that situation, I

(47:21):
feel like it is the absolutely best thing that you
can do. It's if you don't have any other way
to get the money to fix your house. And you
know what happens when your roof gets old, they cancel
your insurance right uh, and then and then you've got
and these folks had had water leaking into their house. Uh.
And these the ones that texted in today also need
to replace hot water heaters and an electrical box. So

(47:42):
they've got to get And when they're telling you for
your insurance that you need to replace your electrical box,
that's usually something you want to get on top of.

Speaker 3 (47:49):
It's more, I don't think you want to get on
top of the electrical No.

Speaker 2 (47:53):
No, not literally, but you know, but if they're telling
you we can't give you new insurance until you update
that old timey elect trickle box, you strongly want to
consider that. And the reason is that the reason they
won't allow that electrical box is because they've had claims
that you know, that were caused by those type of
electrical boxes. So I would say that I think in
this case it might be a very good situation. But

(48:15):
it depends on how much equity they have, how what
their ages are, because the it doesn't really matter by
credit score, but a lot of how much equity you
can take out of the property on a reverse mortgage
depends on how old you are at the time you're
doing it. You have to be at least sixty two
or one of you has to be sixty two. If
one of you is sixty two, the younger spouse can
be has to be at least fifty five. Great question.

(48:36):
Thanks for texting that in. If you want to find
out more, good to the website or my instagram at
that at that what the heck is it? At that
mortgage guy done? And right there on the link tree,
there's a little questionnaire is a reverse questionnaire, and you
fill in some info and then my reverse expert will
call you and ask you some questions and kind of
figure out some options and tell you what it would

(48:57):
look like. And I'm also happy to talk to you.

Speaker 3 (48:59):
You know what, Fritz is forty.

Speaker 2 (49:01):
Yo fortyo forty ooh man, he's Fotio. So when you
read the newspaper and he's like forty forty year old man,
you picture it as forty yo.

Speaker 3 (49:11):
Well, I mean they literally texted in forty eighty yo.
And I just thought they were going like eighty yop.

Speaker 2 (49:18):
Hey, I think I think that.

Speaker 3 (49:19):
I think that's good.

Speaker 2 (49:21):
All right, I'm going with it. I'm down.

Speaker 3 (49:23):
Deputy Scott said he's out uh freezing, teaching fourteen more
teen drivers to drive defensively. Thank you for that, Deputy
Scott fourteen one?

Speaker 2 (49:32):
What was that? Fourteen one?

Speaker 3 (49:33):
Teenagers?

Speaker 2 (49:34):
Fourteen? Teenagers?

Speaker 3 (49:35):
How to drive defensively? Deputy Scott teaches kids how to drive?

Speaker 2 (49:39):
How do you teach fourteen at once? The thirteen watching.

Speaker 3 (49:41):
Or turns in the car.

Speaker 2 (49:44):
They use them as cones.

Speaker 3 (49:47):
Then they'll be defensive. But you know, Christy was ugly
on Facebook.

Speaker 2 (49:51):
I'm wondering why they're so defensively.

Speaker 3 (49:54):
Teaching him to drive defensively.

Speaker 2 (49:57):
Like you did you tell you did you have drivers
in your school in high school?

Speaker 3 (50:01):
I did?

Speaker 2 (50:02):
Yeah, you did too, Fritz. Yeah, I went to Oakridge
High School. We had drivers that that was one of
my favorite classes. They don't do it anymore, but they
used to actually have like eight or ten cars there
that were newer cars that they you know, they they
got and a lot of them had the double double
pedals so the teacher could stump on the bridge from
the other on the other side if you were being defensive.

Speaker 3 (50:23):
Yeah, our school didn't have that kind of money. It
was just more of a screaming situation.

Speaker 2 (50:27):
Would say stop there you go, Yeah that old that'll work.
And they also you also got to go a lot
of drivers. Ed was watching movies.

Speaker 3 (50:35):
Of car res oh Man. Yeah, I remember that. That
was very traumatic.

Speaker 2 (50:39):
Here's why you don't you know if you're going on
off ramp off the highway, you know the ones that
loop around a full circle, and it's like, here's why
you don't go above thirty five and showed people sliding
off the.

Speaker 3 (50:49):
That is why I have that dream. Really, I'm pretty
sure I figured it out.

Speaker 2 (50:52):
What dream tell the dream?

Speaker 3 (50:53):
Why fly off the off, the off, the on ramp?
I have it all regularly.

Speaker 2 (50:59):
You have a dream yourself about when you're driving.

Speaker 3 (51:01):
I'm driving and I fly off that thing.

Speaker 2 (51:03):
Yeah, and you think it's from drivers figured it out
ten years ago?

Speaker 3 (51:07):
Yeah, I think. I think. I think that is what happened.
I think that was in my head and I've been
dreaming it my whole life.

Speaker 2 (51:14):
I've been telling you the show can be cathartic.

Speaker 3 (51:16):
Back now, you know you're listening to therapy on that
hope we work out our childhood traumas right here on
the air.

Speaker 2 (51:25):
Turn up your child turn up your white noise machine
and give us a call. What were you talking about?

Speaker 3 (51:36):
I don't know, but some of us sent me a riddle.
I think I'm going to use it little time.

Speaker 2 (51:40):
Deputy Scott, thanks for texting in. As always, got out
there doing the good work, doing.

Speaker 3 (51:44):
The good work of teaching teenagers how to drive in
a nice way.

Speaker 2 (51:48):
I'm hoping the first thing you do is say hand
me your phone and you just throw it like a
football one hundred yards away and we'll get that later
when you're done driving.

Speaker 3 (51:55):
Kid, Teach them to get a little tiny motorcycle and
drive like they don't care if they live for another minute.
Oh no, that's not a ninety five miles an hour.
We've all in and out of traffic. You're every single
person on the road goes the fist.

Speaker 2 (52:09):
As many times as I see that, you'd think there
was a class.

Speaker 3 (52:12):
Honestly, I bet there's a YouTube tells you how to
do it.

Speaker 2 (52:16):
There you go.

Speaker 3 (52:17):
Here's someone's getting ready to try out some ribs at
the ten ten brewing rib Cookoff.

Speaker 2 (52:23):
Oh that's right, rib cookoff. There's a thing going on.
Most got a thing going on today, a rib eaten
contest and some other stuff. Mode de Witt.

Speaker 3 (52:30):
Is that what that is?

Speaker 2 (52:31):
I don't know. I have to look it up on Instagram.
I'll take a look at that.

Speaker 3 (52:34):
All right.

Speaker 2 (52:34):
Well, I was gonna I was gonna throw a promo
out there, but I gotta look. Go what you got? MJ?
You got a question over there?

Speaker 3 (52:40):
No, I don't here. Someone says MJ's on a roll,
not literally, MJ.

Speaker 2 (52:45):
Hah, what do you mean? Oh?

Speaker 3 (52:48):
Uh yeah right, I'm not literally on a roll, but
I like a role.

Speaker 2 (52:53):
Is that the same person that sent you the riddle?

Speaker 5 (52:55):
No?

Speaker 3 (52:56):
Different person?

Speaker 2 (52:57):
The uh did you hear this? The Supreme Court indicated
that it would allow TikTok to be shut down in
the US side government, voicing national security concerns, but a
full filing a full ruling could come by the end
of next week. According to The New York Times, that's
the thing.

Speaker 3 (53:15):
Wow, we didn't even know how that works. I mean,
there's so many people. I mean, someone's got to be
doing this. Some American company's got to be working on this, right, well,
that was.

Speaker 2 (53:23):
The deal that it had to be bought by an
American company, but they got to be willing to sell it.
And I just say, you know, forget you.

Speaker 3 (53:29):
I mean, somebody's got to be working on making an
equivalent thing. It's not you know, not fraught.

Speaker 2 (53:34):
I don't know if TikTok stops were just going to
see kids laying all over the streets with their fonds
rest in peace. I don't know what to do with myself.

Speaker 4 (53:43):
Yeah, I can't influence anyone anymore. I was an influencer,
damn it, man, Now it's just me.

Speaker 3 (53:51):
Yo.

Speaker 2 (53:51):
I could have been an influencer.

Speaker 3 (53:53):
Yo, I could have been somebody.

Speaker 4 (53:55):
But now nobody cares about me.

Speaker 3 (53:57):
They don't even know my real name. I just dance
in the mirror by mussel in a mirror, yeah, instead
of on the tick dock.

Speaker 2 (54:07):
Well, a lot of the a lot of them are
in a mirror. There's filming themselves in a mirror.

Speaker 3 (54:10):
Yeah, fair enough. And the the the rib the rib
kickoff at the top ten bring is most kickoff? Is
most rib kickoff? Same thing I.

Speaker 2 (54:19):
Read one other thing that you've seen all these advertising
now that now that the sports book gambling is legal
all over the place. You see all these commercials where
they're trying to get you to gamble.

Speaker 3 (54:28):
What could go ridiculous?

Speaker 2 (54:29):
Whe they're showing you how.

Speaker 3 (54:30):
Fun it is, so fun. And you know, I love
the commercial that says, because it's just a feeling you.

Speaker 2 (54:35):
Have, Okay, it's called a gambling.

Speaker 3 (54:40):
That's a feeling and when you get a rush when
you gamble your money. Yeah.

Speaker 2 (54:44):
The reason they weren't allowed to advertise, you know, and
do it the way it's being done now for so long,
it's because they're worried that people lose their life savings
and stuff and uh now and and it's like they
even give you a taste. You know, Hey, your first
one hundred dollars you lose, we'll give it right back
to Yeah, like yeah, but not in dollars. You still
have to bet it.

Speaker 3 (55:02):
You know.

Speaker 2 (55:03):
The reason.

Speaker 3 (55:04):
You know, you have a feeling and you're good. Yeah,
you're gonna win. It's all gonna be fine.

Speaker 2 (55:10):
I just read that DraftKings and Delta Airlines. That's right,
the airline that they're either doing or considering a partnership
where you could be able to gamble while you're flying.

Speaker 3 (55:20):
Awesome, gamble every moment of your life.

Speaker 2 (55:23):
If you're just sitting in the middle seat and you're
thinking life's not good, go ahead and start gambling online,
right and see how that goes.

Speaker 3 (55:30):
Well, you could get on a plane with like twenty
thousand dollars in your bank account and depart with none.

Speaker 2 (55:36):
Wow, that would be that would be I'm.

Speaker 3 (55:39):
Gonna have to change my flight home because it turns
out I have no more money.

Speaker 2 (55:43):
And by change, I mean change it into a bus.

Speaker 3 (55:47):
Like I'm glad that my suit Kate has wheels because
it's a long walk to Minneapolis. I'm sorry. We just
but you know, be careful with that. It's really, it's really,
it's really touchy scary. Here's what it says. We just
got a pre approve a level from letter from your company.
It was such a nice, easy process. We're shopping for
houses right now. What are the current indust rates and

(56:08):
what do you think it will when do you think
it will trend higher or lower in the next month
or two? And then of course we have a big
thing happening in ten days.

Speaker 2 (56:16):
Yeah, it's kind of hard to predict. I thank you
so much for working with us to do your pre approval.
We do make it super easy. I mean, you just
go to the website at that mortgage guide don or
you know my Instagram at that mortgage Guide don and
you can start the application right there, and you know,
you fill it out. We ask you for assuming documents,
if you know. Pretty easy. We figured it all out
and tell you, hey, you're pre approved for this, this
is what a payment looks like. And then we get

(56:37):
you the letter that you're going to need for your
realtor the official pre approval letter, and then you're you're
you're on your way. Rates are hard to predict right now.
It's been like everything goes off book when you have
big major events, like if there's a war, or you know,
or an election or these things. Like normally they're controlled
by inflation, by this and by that, and you know,
all of the things combined, and you can kind of

(56:59):
predict by what's going on with the treasury bonds and
the treasury yields, and you can kind of get an
idea of whether you're headed up or down. But about
two weeks before the election, it became completely untethered from
the normal indicators, and I'm, I'm it's still just been
kind of going sideways, like it would go up two
days and down two days, and up two days and
down two days. And I think once we get the

(57:19):
inauguration and everybody in the financial world can see what
the actual policies are going to be, can see what
the actual framework of tariffs might be, you know, then
they can then everybody can kind of simmer down, simmer down. Basically,
I think that once I do think in later in
the month, in January, we're going to see the rates
come down a little bit and start trending that way.

(57:40):
That's my thought. But you know, if I knew all
that perfectly, I've probably been retired ten years.

Speaker 3 (57:45):
It would be bad on it from your middle seat, right.

Speaker 2 (57:46):
Well, I wouldn't know from first class, not my middle seat.
But I think they're going to continue to trend down.
But that doesn't mean they won't bump up for a
month or two, you know, and they because graphs are graphs,
they're like mountain ranges, you know. So it's gonna go
up a little bit and they'll go down. The idea
is if there's more downs than up for a couple months,
then overall the rates will improve. Great question. Thanks for

(58:08):
texting that into seven seven zero three one. Follow me
on Instagram at that Mortgage guide Don. You can also
go to the website that Mortgage guide don dot com.
You can check out all the past shows, you can
apply for mortgages, you can get all kinds of information there.
And we'll be right back for the final segment of today.
Right after these messages.

Speaker 1 (58:26):
Do you have a question for that mortgage guide, Don,
text us at seven seven zero three one. Now back
to home Loans Radio on real Radio.

Speaker 4 (58:36):
That's right.

Speaker 5 (58:36):
If you have a question, you can text it in
seven seven zero three one.

Speaker 4 (58:40):
Don, we'll answer it on the air.

Speaker 5 (58:42):
Or you can just follow them on Instagram at that
mortgage guide Don. You can also go to that mortgage
Guide Don dot com. You can email him. Right, is
that still a thing? Or do you want people to
just leave you alone?

Speaker 2 (58:55):
Well, let's talk about that. No, you at the website. Yeah,
there's a place for the box where you can say,
says ask Don question. You just put it in there
and it goes right to my email. See he told
you there. Well done, Thank you. You're listening to the
show with uh Me and uh Fritz. We're doing the
last segment of the day. Here. What have we got

(59:17):
time for him? You got one more question there?

Speaker 3 (59:19):
No, but I was going to tell the beautiful human
who sent me the riddle about Ireland. I need some clarification.
So think about it. Read what you wrote and send
me it again and I'll use it next week.

Speaker 2 (59:31):
All right, There you go, m I had something I
wanted to tell you about. Oh, no, Chase Bank JP
Morgan Chase. All right, one of the biggest banks in
the world, three hundred thousand employees. You know what they
told everybody this week, but get back to work. Oh,
no more homeworking, no more hybrid working, no more working

(59:52):
from home. Everybody back to the bank.

Speaker 3 (59:55):
Interesting.

Speaker 2 (59:55):
That's interesting.

Speaker 3 (59:56):
It feels like they would make money. I mean, it
feels like it would be a cost effective thing to
have people, you know, working from home as opposed to
managing them all in spaces at work.

Speaker 2 (01:00:05):
You mean, like yeah, like overhead wise, just the cost
of toilet papers. Yeah, yeah, I don't know. I mean,
I'm sure they you know, they're a big bank. I'm
sure they evaluated it somehow, and basically, nobody has a choice,
so either you come back to work or you don't.
I thought that was pretty a lot. More and more
companies are doing that, but not my company.

Speaker 3 (01:00:26):
Nope.

Speaker 2 (01:00:27):
People who want to work at the office work at
the office. The people that want to work at home
work at the home. And I find that when everybody
is happy where they're working, they work, they're more productive.

Speaker 3 (01:00:35):
So it's nice.

Speaker 2 (01:00:36):
Yeah, that's a good thing for me. I'm not Chase Bank,
but obviously, Well what do we got him to? You?
Guess what time it is? It's time for the speed round?

Speaker 3 (01:00:46):
You know you didn't do it compare quote.

Speaker 5 (01:00:48):
Oh that is true, and also the channel is not
on it.

Speaker 2 (01:00:52):
Hey, there we go, we are we I didn't do
the compare quote this week. Maybe we should do the
compare quote instead of the speed round. Okay, yeah, I'll
do it next time for the speed round.

Speaker 3 (01:01:06):
That's where. Well did you have one? Was it good?

Speaker 2 (01:01:10):
I do have one. M I'm gonna do it. I'm
gonna do Okay, we'll do that instead of the speed round. Jeff,
guess to what time it is?

Speaker 4 (01:01:18):
Is it time for the speed Round?

Speaker 2 (01:01:20):
It's time for the compare quote of the week Live Radio.
Heck yeah, compare quote of the week this week. It
was actually a reverse mortgage this week. So we I'm
bringing this up because we had some folks that had
asked the week before, you know, if they should shop

(01:01:42):
for a reverse mortgage or not, or if they would
all be the same. And they were asking questions about
whether they were federally insured and things like that, and
I said, oh, heck yeah, absolutely, you have to compare
your quote. Well, so they did. We were able to
get them cash back. Well, I don't I don't need
to say. We were able to get them on the
same reverse mortgage, because reverse mortgage is how much you
can get is based on your age, and then the

(01:02:04):
closing costs that the lender charges, and then what's left
over is what you get is your cash back. We
were able to get them back twenty six thousand dollars
more cash back than what the other lender was giving them,
which means that we moved that much in fees that
we don't charge a lot of the fees that they
were charging. Our actual lender fees were six thousand less
on that side, and then we were able to get

(01:02:25):
them a much better deal. Their daughter called me to
thank thank me for doing the show and for saving
her parents so much money, which was really cool. And
if you're doing any loan, any loan at all, you
need to compare your quote. It's kind of the moral
of the story. I do all the loans, heylocks, non
non QM, reverse mortgages, purchases, debt consolidations, cash out, construction SBA.

(01:02:47):
Any loan you're getting you should compare your quote. How
do you do it? You go to the website or
Instagram at that mortgage guide don dot com and you
put it in there where there's a button says compare quote.
You put in your name, you tell me your credit score.
I'm not going to pull your credit and then you
upload the quote and then I'll look it over. I
tell you if it's any good, say it with me.
Fritz and MJ. Please don't miss the boat. Compare your ques.

Speaker 4 (01:03:10):
Do you want to say O? Say it now?

Speaker 3 (01:03:11):
Or say it I'm not.

Speaker 2 (01:03:14):
Come on, come, okay, there you go.

Speaker 3 (01:03:20):
You know, let's do a little mini speed round. We
have time. No, No, well, I mean I feel bad
because I saved these questions.

Speaker 2 (01:03:29):
Go ahead, go ahead? Yah.

Speaker 3 (01:03:29):
Yeah, So I just do a couple real quick. I
want to buy a home this year. I'm W two
now and they're giving me the option to become ten
ninety nine contractor at the end of the month. Other
guys that have done this tell me they end up
making more money. But will it be an issue with
buying a house this year, Yes.

Speaker 2 (01:03:44):
It's gonna. It's gonna it could be an issue because
when you're if you're W twoed, you know, we go
buy your past ups. But if you're becoming a self
employed or a ten ninety nine contractor. Then the only
way to tell what your income is to wait till
the end of the year and see the tax returns
that you file. And most lenders want you to have
at least one year of taxes, and a lot of
them will want two years of full taxes at the

(01:04:04):
new job. So you either want to hurry up and
buy a house while you're still w twoed, or you
know you may have to wait a little longer. There
are some options using business bank statements and so forth,
but you still got to be self employed for a year.

Speaker 3 (01:04:16):
And lastly, can you tell again about home set exemption
and how I file it? I came and write at
the end of that topic earlier.

Speaker 2 (01:04:23):
Yeah, you go to the website for your county's property appraiser,
so you know simon County Property appraiser website. Make sure
you're on the government website. You'll be able to tell
and then you just file up the paperwork that they
ask you for and then in November you will you
will get a tax break of about twenty percent if
you're living in the home. This is for anybody who
bought a house at any time in twenty twenty four,

(01:04:43):
from January to December, the whole year. If you bought it,
if you've never done it, or you've never done it before,
then now it's the time to file for your homestead exemption.
You only have till March first.

Speaker 3 (01:04:52):
To do it, all right, real quick? He is the riddle,
What is taken before you get it?

Speaker 2 (01:04:55):
Riddle time? What is taken before you get it?

Speaker 4 (01:04:59):
A photo?

Speaker 2 (01:05:00):
A photograph?

Speaker 3 (01:05:00):
Yep, yeah, Fritze, All right there, we did it. We
did it.

Speaker 2 (01:05:08):
Well, folks, you did it. You successfully wild away the
ninety minutes of your Saturday morning and listening to us
praddle on about all the things out there. Play us
out of here with something cool.

Speaker 3 (01:05:18):
Fritz By, you got it, and you should listen to me. No,
you can find you too. Then you clag your bag album.

Speaker 1 (01:05:49):
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