Home Loans Radio 01.18.2025 With That Mortgage Guy Don- Artic cold coming and rates heading back down too!

Home Loans Radio 01.28.2025 With That Mortgage Guy Don- Artic cold coming and rates heading back down too!

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 Don.

Speaker 2 (00:13):
Hey hey, hey, hey, hey hey hey, good morning and
welcome to the Home Loans Radio show with that mortgage
guy Don. That's right, that's me. We're here. We're doing it.
We're doing what we do every single Saturday, right here
with my crew. Good morning, MJA, good morning, welcome to
the show. MJ, thank you. Good morning, mister Fritz, Julia,

(00:37):
welcome to the show.

Speaker 3 (00:38):
Hey, thanks for having me here.

Speaker 2 (00:39):
We are doing what we do. Gathered around the old
frosty microphone on Aday on a Saturday morning, getting ready?
Are you getting ready for the polar VOIDEX?

Speaker 4 (00:51):
I don't know. Is it coming here?

Speaker 2 (00:53):
Uh?

Speaker 4 (00:53):
Well, I know it's going to be really scary for
lots of places.

Speaker 2 (00:56):
Less so than than some places.

Speaker 4 (00:58):
That's what I thought.

Speaker 2 (00:59):
I was reading that upwards of one hundred and twenty
million people, about a third of the US, we'll have
temperatures down in the zero range.

Speaker 3 (01:09):
What that's not a number.

Speaker 4 (01:12):
It's not a number. I'm with, Frits. That can't be real.
How do you measure zero.

Speaker 2 (01:18):
I'm a little freaked out about it. So you normally
I wouldn't care because we're only supposed to get down
into the thirties or forties.

Speaker 4 (01:23):
Here. I can do that. I mean, my synchronized swimming
group will cancel their their rehearsal. But other than that,
we'll get through it.

Speaker 2 (01:32):
Yep, yep. So many frits, so many things popped into
my head and got discarded because you know.

Speaker 4 (01:43):
I mean, it's kind of foolish that we do it
in the winter. We're on radio, that's when the pools
are available.

Speaker 3 (01:47):
Well, I heard I.

Speaker 5 (01:48):
Heard sink I heard sinko, like sinko to my ow
and I was like sinking to my we're injin and
then I was like okay, and I swimming.

Speaker 4 (01:57):
I mean we we wear those rubber hats which keeps
our heads work.

Speaker 2 (01:59):
Yeah you say wee. Is there anyone with you?

Speaker 4 (02:01):
Yeah? Yeah, me and my friends. Well they're gonna they're
gonna join me sometime.

Speaker 2 (02:06):
Your Facebook friends.

Speaker 4 (02:07):
No, the synchronized swimming team. I'm working on it.

Speaker 3 (02:10):
Do you actually have one?

Speaker 4 (02:12):
No? No, I mean I'm working on it.

Speaker 2 (02:13):
Yah.

Speaker 3 (02:14):
Yeah, Yeah, it's a it's a it's a dream of yours.

Speaker 4 (02:16):
It is a dream.

Speaker 3 (02:17):
She's a dream.

Speaker 4 (02:18):
Right now. I'm just doing a lot of practice, so.

Speaker 2 (02:20):
It's aspirational at this point.

Speaker 4 (02:21):
Yeah, it's it's kind of just swimming if it's just you.
But when you get someone else to do it with you,
then it can be synchronized.

Speaker 2 (02:27):
You know.

Speaker 4 (02:27):
I always a.

Speaker 5 (02:28):
Dream to be the leader of a small troup of
synchronized swimmers, at least two.

Speaker 4 (02:34):
At least two, I just need one more person and
then we are synchronizing.

Speaker 5 (02:38):
I can see like like everyone's swimming.

Speaker 3 (02:40):
And then at the same time everyone.

Speaker 5 (02:42):
Says, how did it look? How did it look? I
don't know, you're all underwater.

Speaker 4 (02:47):
I have no ah. I think it looked grand. That's
what I think.

Speaker 2 (02:51):
A small team, a small troop.

Speaker 4 (02:53):
This is a small troop.

Speaker 2 (02:54):
Are you Are you just in the pool doing those exercises?
They have the senior people do that.

Speaker 3 (03:00):
It is.

Speaker 4 (03:02):
It was an app that said swim and fit.

Speaker 2 (03:05):
Getting my pool noodles, going to work.

Speaker 3 (03:08):
That's a good time, pol noodles.

Speaker 4 (03:11):
Noodles are a good time. That's right now, like a
good pool noodle.

Speaker 2 (03:14):
I don't know who invented that. I doubt they planned it.
They probably extruded that phone and said, what can we
do with this? Oh? I know, let's try it in
a pool.

Speaker 4 (03:22):
It floats. So you're telling us about this very cold
weatherized swimming dream.

Speaker 2 (03:29):
Yeah, I mean, are you starting a club? Can I
get in? Or what is it?

Speaker 4 (03:32):
Sure? They'll be rehearsals.

Speaker 2 (03:34):
I don't want to be just a second member though,
not rehearsal. Rehearsals.

Speaker 4 (03:38):
So when you when you, uh, what do you try
for it? Auditions?

Speaker 2 (03:42):
Tryouts? Yeah, tryouts, Jeff, you're going to come to the tryouts, right?
I mean I want to be the captain. I don't
want to be the captain though, I don't want to
be the captain. I don't know anything about synchronized swimming.

Speaker 4 (03:58):
It's gonna be great.

Speaker 2 (03:59):
I'm excited for doing a mortgage athlete team. I'll do that.

Speaker 4 (04:02):
Oh, everyone wants to be on that.

Speaker 2 (04:04):
With a sacred and swimming.

Speaker 4 (04:09):
So it's gonna be cold, you say, yes, snow might
be on the way.

Speaker 3 (04:12):
That's exciting.

Speaker 2 (04:13):
Fifty chance of snow up in the panhand like nowhere near?

Speaker 3 (04:18):
I mean unless you're in tallahasse.

Speaker 2 (04:19):
He right now listening right, hold your fears. One member
of the group here will be I got a business.

Speaker 4 (04:24):
Trip to where somewhere Bomby of.

Speaker 2 (04:27):
All places, on Monday, Detroit.

Speaker 3 (04:30):
Oh yeah, that's cold.

Speaker 2 (04:32):
Oh it's snow in there today. I look like I
put the weather on my weather bug app so I
could see what I was in for up in this
in the Arctic circle of Detroit.

Speaker 3 (04:40):
Do you have a nice pea coat you're gonna wear?

Speaker 2 (04:42):
I actually got one recently delivered to my home just Friday.

Speaker 3 (04:49):
Where'd you get it from?

Speaker 2 (04:51):
I don't know. I don't know, somewhere online on Amazon,
like I don't know, saxonline or something like that. Outlet
some outlet online.

Speaker 3 (04:59):
Wasn't Caveart Camar left overt.

Speaker 2 (05:03):
Minnesota, I remember came, aren't.

Speaker 4 (05:05):
Yeah. You can get a great coat Goodwill.

Speaker 2 (05:08):
Good Will, that's true.

Speaker 4 (05:09):
Oh man, they're full of really good coats because people
move here from you know, the other Detroit. Yes, from Detroit,
and they don't need that coat, and they give them
away and they're always really good.

Speaker 2 (05:18):
I need people to tell me how to cope with this.
I mean zero, well, actually worse than zero. On Tuesday.
The high where I'm going to be is supposed to
be uh one and the low is supposed to be
negative four with a minus twenty windshill.

Speaker 4 (05:31):
Jesus understand, and he just freeze like an icicle when
you walk outside.

Speaker 2 (05:35):
If you get locked out of your house, you're in trouble.
You're in like real trouble of a chance of not
making it.

Speaker 5 (05:40):
Yeah, you would have to like bust out a window
to get back in, and then you have a broke window.

Speaker 4 (05:45):
You're in trouble. Then you got to make a hot
bath and stay in it, and then you're in trouble. Well, no, shrively.

Speaker 2 (05:52):
Sounds like I'm going to ask other people for plans
on how to cope. Don't.

Speaker 3 (05:56):
Don't ask me. I have no coe.

Speaker 4 (06:01):
Well that sounds cold.

Speaker 3 (06:02):
You're like, for it's any ideas? Nope, I guess you're
did Bud.

Speaker 2 (06:05):
I got one thing on my agenda. Yeah, I got
one thing on my like someone someone you know, I
used to live up there, And to be real, I
used to live in Wisconsin, you know, forty thirty years
ago when I was in the military. I lived in
Wisconsin for a while. So it's kind of that you
get that same kind of polar vortex weather every once
in a while. And back then when I first moved there,
people said, well, you have to keep a candle and
a lighter in your glovebox. I'm like, Eh, they're pranking me,

(06:27):
you know, but it's true. Like if you have a
candle in your glove box in your car like stalls
and gets on the side of the road, that one
candle can keep your car warm enough inside for you
to survive.

Speaker 4 (06:38):
Yeah, I've heard that.

Speaker 2 (06:39):
There's your there's your Detroit tip from me. Right, you're
listening to the Home Loans radio show with that mortgage
guy Don MJ. Fritz. We're all here doing what we do.
What's that you ask? Well, I'm gonna.

Speaker 4 (06:53):
Tell you understand why you might be asking.

Speaker 2 (06:56):
Snow talk. You gotta get my snow on MJ. Right,
I'm not driving.

Speaker 4 (07:03):
We talk about mortgages, Don, That's what we do. It's
about mortgages. All about the mortgages.

Speaker 2 (07:08):
That's all I do.

Speaker 4 (07:08):
All we fu the reverses, the compare your quotes, the
SBA loans, helock loans, that exemption, yea, all that.

Speaker 2 (07:16):
M there you go. What's going on in the world
a mortgage at Well?

Speaker 4 (07:22):
Please tell us.

Speaker 2 (07:22):
We actually had kind of a big rate rally on
Thursday and Wednesday. Thursday and Friday rates got much improved.

Speaker 3 (07:29):
Rally is rally good.

Speaker 2 (07:31):
Rally is good. That's like when you're in baseball and
your team's behind you, put on your rally cap, you
turn your hat backwards. You know you're gonna have a rally.
You're gonna you're gonna get a bunch of runs, you're
gonna catch up, you're gonna win the game. That's the rally.
We had a bit of a rally we've been having.
The rates have been kind of either sideways since like
two or three weeks before the election, like going either sideways,
like not neither up nor nor down, or over the

(07:54):
last couple of weeks they went they were slowly sloping
upwards and like over about a three week period and
then and in two days they dropped down again and
erased that whole game. So we're actually seeing the thirty
year mortgage rates now back in the sixes. The weird
thing is you're gonna see articles right now that say
mortgage rates go up into the sevens, right because the

(08:14):
thing is there's this Fanny May Report on interest rates
that comes out at the end of every week, so
it comes out on Thursdays. Okay, so it's looking at
what has happened, you know, for the for the previous
seven days, which is that rates went up and they
pushed up over seven percent in some places. But what
actually happened on Wednesday, Thursday, Friday is the rates dropped
back down into the sixes. But that Freddy Mack report

(08:37):
that is all over the news on all the big
outlets on NBC, CVS, CNN, you name it, USA today
all says mortgage rates spiked, but they actually went down
towards the end of the week. So we're going into
the week with good rates. We're seeing them back into
the sixes. I mean, our rates are always lower because
we're a wholesale mortgage brokerage. I'm still I was still
seeing rates down in the low sixes when they were

(08:58):
reporting that they were in the low seven and so
we're we're about a half a point to a point
lower than what you're going to hear in a lot
of cases on the news. But that's really that's really
a big thing. Good rate rally. We'll see what happens.
We got the big inauguration on Monday indoors because it's uh,
it's super cold everywhere.

Speaker 3 (09:14):
When's the last time they've done indoors.

Speaker 4 (09:16):
It's been a while. Ronald Reagan.

Speaker 2 (09:19):
Oh interesting was that weather.

Speaker 4 (09:21):
It was because he'd been shot well that yeah, it
was after his after it was after his second second
or second term, and he had he been shot, so
they didn't think it was a good He was he recovered,
but they didn't think it was a good plan. So
he was inside.

Speaker 2 (09:36):
Well there you go.

Speaker 3 (09:37):
Yeah, I didn't know that.

Speaker 2 (09:38):
The reason, that's the reason that's a pertinent in the
mortgage world, the financial world, the TikTok world, all the worlds,
you know, is that all these policies are going to
come out on Monday. Everybody's going to finally take it out.
Everybody's waiting, you know, the market. That's part of the
reason the markets, I think that the markets have been
going kind of sideways, is because everybody's waiting to see
what the policies are. What are the tariffs going to be,
what are you know, what's everything going to be. How's

(10:00):
it going to affect the financial markets, how's it going
to finance, affect the housing market, the insurance market, the internet,
you know, all these all these things there could be
policy hip.

Speaker 4 (10:12):
Of the hop wait taking the talk.

Speaker 3 (10:14):
Talk yeah, the Supreme fine, TikTok is in trouble.

Speaker 2 (10:18):
The law that was passed to get rid of TikTok
after a certain time if it wasn't divested to a
US company, it was you know, becomes official the nineteenth
and there was a challenge in the Supreme Court as
to whether it was a legal law, and the Supreme
Court said, yep, it's good. You know, so it's a
legal law. It's constitutional, so it's supposed to take effect.

(10:40):
We'll see all kinds of stuff happening in our in
our world.

Speaker 4 (10:43):
Next week, things could be different.

Speaker 2 (10:45):
Yeah.

Speaker 5 (10:45):
I also heard there might be a new amendment, but
the Archivist is probably not going to ratify it.

Speaker 4 (10:52):
She already didn't.

Speaker 3 (10:53):
Yeah, well there we go.

Speaker 2 (10:55):
We've got a long weekend. Martin Luster King Day on Monday.
For those folks that don't work on the Martin Luther
King Day? Are you? Is your job working on Monday?
For its?

Speaker 5 (11:05):
We have like bankers holidays, So no I have Monday off.
Why why you wanna get day drunk?

Speaker 4 (11:10):
Yay?

Speaker 2 (11:11):
Yeah?

Speaker 4 (11:12):
You and me, buddy Donald, Yeah yeah, we'll get drunk
and synchronized.

Speaker 5 (11:17):
We're just floating in the pool, freezing our asshof for
some reason.

Speaker 3 (11:20):
Why we're doing that? Just getting drunk.

Speaker 2 (11:23):
That turn that pool heater up to eighty nine. That's
what you do.

Speaker 4 (11:26):
And then if you wish you had a hot tub.

Speaker 2 (11:28):
Send me a picture of you and your steamy synchronized
swimming practice. Wow that sounded weird.

Speaker 4 (11:38):
Uh.

Speaker 2 (11:38):
Yeah, I'm going to be in Detroit. It's going to
be cold. How cold is zero?

Speaker 4 (11:43):
Well, here's somebody.

Speaker 2 (11:44):
How does it feel in your face?

Speaker 3 (11:45):
Oh no, you can't measure it because it's zero right, Yeah,
I don't know. That's the lack of warmth. How much
warmth is in the air?

Speaker 2 (11:53):
Zero zero?

Speaker 4 (11:54):
Here's somebody says from Detroit here living in Orlando. Layer
your clothes, make sure the thermal sweatshirt or sweater.

Speaker 3 (12:00):
You'll be fine.

Speaker 4 (12:01):
You'll be fine. That's not what they said. That's what
we say.

Speaker 3 (12:04):
On your face.

Speaker 5 (12:04):
To put a mask on and then a mask on
over the mask, and then another mask.

Speaker 2 (12:10):
Yeah, you mean like one of those masks that makes
your skin supple.

Speaker 3 (12:13):
Listen to your heart.

Speaker 4 (12:16):
You mean like a Korean beauty mask.

Speaker 3 (12:18):
Yeah, that'll shock the people.

Speaker 2 (12:19):
Are they warm though? That's the question.

Speaker 4 (12:23):
Gonna look freaky morning. Don and Kobri and carry listening,
you should join uh breeze synchronized golf team.

Speaker 2 (12:32):
Okay, golf, that is a visual. I like people jumping up,
doing dolphin moves and then striking the ball all at
the same time. I now see that that I could
get into synchronize golfing.

Speaker 4 (12:46):
There you go.

Speaker 3 (12:47):
Well, you know, someone like you like if you're out
of sink.

Speaker 2 (12:49):
You know, it adds a stroke to your score. You
gotta you gotta be tight. Youa have the routine down.
You gotta you gotta be moving with the music. Synchronized golf,
that's pretty funny. All right, there's a ok there somewhere.

Speaker 4 (13:01):
Somebody says heading to the gym, have a good day.
Here someone who says, hey, guys love the show. And
they said that before we even talked about mortgages. So
you know, it's then all have to be mortgaged.

Speaker 2 (13:10):
It's a sign.

Speaker 4 (13:11):
Yeah, And then we have a question when you're ready,
There you go.

Speaker 2 (13:14):
You're listening to the Home Loans radio show. This is
a participatory show. We are live here in the middle
of December, getting ready to January. Thank you, Little time,
Jump time hop you know we're in the middle of
January here getting ready for the polar vortex. It's going
to be going to be fun. Well, you know what, MJ.

(13:34):
We're gonna do that question because it's shortly because we
got a break coming up. We're going to be right
back after these here messages. Hey, hey, hey, it's that
mortgage guide Don twenty twenty five is here and the
cold nights are coming. Yet another reason why I'm over
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(13:57):
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(14:18):
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(14:41):
five two seven sixty one three.

Speaker 5 (14:44):
Hey, this is Devor Roberts from the Jim Culbert Show,
and you're listening to Home Loans Radio on Real Radio.

Speaker 3 (14:50):
Now back to the show with that mortgage guy.

Speaker 4 (14:53):
Don Hey, hey, hey, hey, you are listening to Homelands
Radio with that mortgage guide and we are taking a
bellot we'll have it's going to be in Detroit this week.
But also for where our fearless leader is going to
go and be freezing. And also we're talking about mortgages,
of course we are, because what else would we talk about.

Speaker 5 (15:10):
Also singer night swimming because my wife Darcy says that
she will choreograph it for us.

Speaker 4 (15:16):
That's what I've been missing, is a choreographer, right, That's
what I need. Also someone to sit on the sidelines
and say, yep, that looks good.

Speaker 3 (15:24):
We've got our choreo.

Speaker 4 (15:25):
Yes, yes, holding auditions soon stand by, So.

Speaker 2 (15:30):
Is missus frit is going to be the coach or
are you going to be the coach? Are you guys
gonna have to fight it out?

Speaker 4 (15:34):
I defer. I defer to the choreographers. Absolutely.

Speaker 2 (15:38):
She goes about me too.

Speaker 4 (15:39):
Dancing, and I don't bring me, bring me an expert,
and I will listen and bring me the horizon.

Speaker 2 (15:46):
You're listening to the Home Loans Radio show right here
on Real Radio one to four point one live show.
The only live show on Saturday morning is the best one,
by the way. Yeah, and we're here doing what we do.
You can text in your questions, comments, salutations to seven
seven zero three one, and we talk about home loans, mortgages,
business loans, real estate, but pretty much anything. We're very suggestible.
We can talk about synchronized swimming if we have to,

(16:08):
It's true. But texting the seven seven zero three one.
You can also follow me on Instagram at that mortgage guide.
Don get my Instagram watch, I gotta check out. I've
been working, man, I've been working on trying to get
those followers up, making friends, shaking hands, shaking babies, kissing.

Speaker 4 (16:26):
Shaking babies, kissing hands.

Speaker 2 (16:28):
Well, there you go. It's a good thing I'm not doing.

Speaker 4 (16:29):
I mean, who wants to have their baby kiss by people.

Speaker 3 (16:34):
Suppose the pathogens.

Speaker 4 (16:35):
I guess that's like when you make your kid eat dirt. Yeah, yeah,
I don't think that tracks. I understand people do it.

Speaker 2 (16:41):
You make your kid eat dirt.

Speaker 4 (16:42):
No, there was a whole thing about the kids weren't
getting enough germs, and they're like, no, you need to
to get your kid out in the dirt. It's like, okay, man.

Speaker 3 (16:50):
Kids nowadays they don't get enough dirt.

Speaker 4 (16:52):
They just don't get enough dirt.

Speaker 2 (16:53):
Let me tell you. That's why they invented army men.

Speaker 4 (16:56):
Dir Right, that's why I started my baby food company,
dirt for your kid.

Speaker 2 (17:03):
Well, the markup it's probably pretty good.

Speaker 4 (17:05):
That's awesome, it's really awesome. I get an order, I
go out, I get a.

Speaker 2 (17:09):
Scoop Instagram watch were we went up, Like we're trying
to get to the new goal. The new goal is
twenty twenty and twenty five by February fourteenth of twenty
twenty five. That's a new goal. Right. We went from
around twelve twenty up to twelve ninety two. This week,
we're cooking. We're cooking almost at thirteen hundred. Well, I

(17:30):
got another we got a double we got to double
this in six weeks. All right, sure, Now I'm nervous
when I say like that. No, we got this.

Speaker 4 (17:36):
Here's what it says. I'm from Detroit, keyword from nothing
will keep you warm. Only good part is if it's
zero out, it's too cold to snow there to be cold.

Speaker 2 (17:45):
Yeah, but it's snowing all day today and then it's
going to freeze, so that's no. Well, whatever's there will
be solid, I think when I get there. But yeah,
I don't plan on going outside, to be fair, Hopefully
I don't get stuck outside. I guess I will have
to go from the hotel to the car and then
from the car to the building, you know. But yeah, yeah,

(18:05):
outside of that, I'm not experiencing too much zero degree
whether if.

Speaker 4 (18:08):
If all goes well, well try not to squeal, you know,
all right?

Speaker 2 (18:12):
Yeah, I mean does zero degree weather make you squeal?

Speaker 4 (18:15):
It makes me squeal.

Speaker 2 (18:16):
Yeah.

Speaker 4 (18:16):
Right, we have a question.

Speaker 2 (18:18):
Let's do that. You can text yours into seven seventh
zero three one and join the conversation.

Speaker 4 (18:22):
Please do. I'd really appreciate it. Here's one that says
I've had a couple mortgage companies telling people that if
you finance with them, you can refinance it any time
in the next five years for free. Does that mean
that they're paying the state required fees, doc stamps, taxes,
et cetera. It seems too good to be true. But
I'm wondering if that's a real thing.

Speaker 2 (18:40):
Well, I don't know, I haven't heard that, you know, advertisement,
there's no such thing as for free when you close
a mortgage. When you close alone, they were closing costs.
The state of Florida is going to get their doc stamps,
They're going to get their intangible tax they're going to
get the doc stamps on the deed and the mortgage
in certain cases that there's transfer taxes, there's title fees,

(19:00):
there's all of the things that are included. All these
people do jobs during during a mortgage, and you know
there's there are fees for those. Yeah. Otherwise those companies
are bad companies and they don't you know, they don't
stay afloat for very long. So if they're saying they're
going to refinance you and cover all those costs, I
assure you they are somehow building that into the rate
either on this rEFInd you know, either on this deal

(19:21):
or the next deal. Or or somewhere. But those costs
don't go away. We used to have you know that
thing a few years ago. Yeah, there are people that
are saying I'll pay all your closing costs, and it's
just not a real thing. They're not really paying their
closing costs unless they make your rate higher. Then you
get a rebate from Fanny Man or Freddie Mack or
FHA or VA for a higher rate. I've got one

(19:43):
right now that I'm doing for a client. It's a
it's a jumbo loan, and they wanted to keep more
of their cash in their pockets. So instead of the
rate being you know, like six and a half, they
moved the rate up to seven and a quarter. And
because of the loan size, they're getting back thirty thousand
dollars towards their closing costs. So you can you can
arrange that, but you can't do it without raising the rate.

(20:03):
The money comes from somewhere. There is no free nothing.
It's just the way. It is, a great question. Thanks
for texting that in. But yeah, beware if you get
that quote, if you get a quote from somebody that's
telling you that the rate's going to be awful, probably
send it in for the compare quote and I'll tell
you how awful. All right, yeah, good question. Thanks for
texting that into seven seven zero three one. That's how
you do it. That's Fritz. That's how they do it, right,

(20:24):
that's how they do it.

Speaker 4 (20:26):
This is how they do it. That is how you
do things.

Speaker 2 (20:32):
Okay, dance break.

Speaker 4 (20:35):
Oh, we had a home loans radio actually, happy home
mortgage outing.

Speaker 2 (20:39):
That's right. Actually, I was gonna mention that, Ah, you
were Oh man, Jeff wasn't there. Just kidding he was there. No,
I was gonna say, I finally feel like the holidays
ended last weekend for me, because you know, you start
doing holiday stuff in March Thanksgiving, Yeah, and then every
weekend is full of parties and well, if you're popular

(21:02):
like MJ, every weekend is full of parties and celebrations
and yeah, you know, reindeer hunts and whatever else you do.
But the company party I stopped a few years ago.
I stopped doing it in December because it was so
hard because everybody on the team and their significant others
together during one of the four weekends or three weekends
before before you know, Christmas. So we started doing it

(21:26):
in December first or second weekend in December. So why
do I keep saying December.

Speaker 4 (21:30):
You have a little Dyslexi of the month.

Speaker 2 (21:35):
What's your Dyslexi of the month? Well, it's gonna be
saying December when I mean January. Yeah right, it's because
of the whole trial.

Speaker 4 (21:43):
So it's two things, like Dyslexi of the month because
you're getting month mixed up and Dyslexi of the month.
Like I get it, like it all right, thanks for highlighting.

Speaker 2 (21:55):
So we finally ended it h January second weekend in January,
big time. We had fun and Fritz was there, of course,
part integral, completely integral, part of the team. Fritz and
Missus Fritz and all the fine folks from Happy Home
Mortgage were there. It was It was fun. Mja was
dancing on the table, shooting out the lights. Fritz told
her about the tequila and so then she drank it,

(22:17):
and then we had the holiday party and.

Speaker 3 (22:19):
Then she asked for more.

Speaker 4 (22:20):
I had no tequila. Actually no tequila.

Speaker 2 (22:22):
It was a lot of fun. What part did you like, Jeff.

Speaker 5 (22:26):
Just hanging out and talking, chatting and getting to know
the team better and then also the show.

Speaker 2 (22:31):
Yeah, it was it was a lot of fun. We
went to Judson's Live for a show, took the whole team.

Speaker 3 (22:34):
That was a lot of fun.

Speaker 4 (22:36):
Yeah, but the holidays are I had Pink Floyd playing
in my head for the whole week.

Speaker 2 (22:39):
Yeah, that was good. The guy, the guy that was
playing with was named Will Patrick, and they they had
a full band that did all Pink Floyd. How would
you describe it for your musician, I'd rather hear a
musician describe.

Speaker 3 (22:50):
I mean it was like a what a six piece band,
three four, five, six, seven, and and they they played
all the hit it's basically mm hm shine on you
Crazy Diamond, mm hmm. And I can't remember what they
ended with.

Speaker 2 (23:07):
Wish you were here? Yeah, I think yeah, yeah, but yeah,
it was good. But I like MJ. I've had I've
had that music stuck in my head all week.

Speaker 4 (23:15):
Even though it's not the worst music to have rolling
around you. I like it better than like some annoying,
you know, jingle or something.

Speaker 2 (23:21):
Like baby Shark.

Speaker 4 (23:22):
I don't know what that is. Oh, okay, stop, I
don't don't. Don't give it to me.

Speaker 2 (23:28):
Well, it's because you don't have a child under the
age of ten. If you did, know it's true, not
that I do, but I've heard it out there. I
have not texting your questions to seven seven zero three one.
You're listening to the Home Loans radio show. I'll answer
anything anything you ask about home loans, real estate, mortgages,
business loans, you name it.

Speaker 4 (23:44):
Well, here's a question. Why are the rules so different
from for SBA loans from bank to bank and SBA
is small business.

Speaker 2 (23:50):
Small Business Association.

Speaker 4 (23:52):
Yeah, I was offered the completely different terms on a
seven a SBA business loan when the application was identical.
One was telling me that I need twenty percent of
my own funds now that requires thirty percent down but
has better rates. Can you help me understand this?

Speaker 2 (24:07):
I can. Yeah. The thing with SBA Small Business Administration
is they don't actually loan any money. Okay, they securitize
the money or part of the money, usually about thirty
or forty fifty percent depending on how you do the loan,
and the type of SBA is securitized by the Small
Business Administration. So every bank has their own rules on

(24:28):
how they integrate with that part of the SBA. So
the banks make their own rules as far as what
they're going to land to businesses. The differences that a
portion of that is securitized, so that makes the bank
more likely to loan on startups and startup businesses and
other things like that make some of the risk because
the SBA takes some of the risk away. So even

(24:49):
though it's an SBA loan, you are never going to
find the same one twice. When we shop for an
SBA loan, we're probably going to at least a dozen
different banks to see, and a lot of them we
work with all the time, so we know their policies.
So depending on your credit scores, your scenario, what you
have to put down, we then help figure out which
SBA bank you want to send that to you because

(25:09):
you could send that loan to ten SBA banks and
get declined, and you send it to ten different ones
and get approved. So it depends on that bank, their policies,
their appetite for the risk, and the level of the
risk that's being covered by the Small Business Administration. So yeah,
if you get a quote, you definitely want to shop
it at the compare quote on my website, at that
mortgage guide. Don We'll be right back after these messages.

Speaker 3 (25:31):
Hey, this is Ryan from the monsters. And now back
to that mortgage guide Don on Real Radio.

Speaker 5 (25:37):
The only show where you can text them questions about mortgages,
buying a home, selling a home, I don't know, getting
money out from your house, refie, heelock, you name it.
You can text it in right now live and we
will answer it on air seven seven zero three one.
You can also follow Don on Instagram. We have an
Instagram watch going on. Just follow at that mortgage guy

(25:58):
donight right.

Speaker 4 (26:01):
Well, well, people see if they follow you on Instagram.

Speaker 2 (26:03):
Well, let's see, yesterday I posted a video of me. Well,
I did a I had a commercial recorded, a TV
commercial recorded at Channel six, and that is now playing
on Instagram. A couple of days ago. I put that
up so everybody could check it out and you know,
tell me what they think, and only if it's nice,

(26:26):
but otherwise I take a look at the commercial. It's
a it's pretty cool. That's what I'm excited about. That
we worked hard on it. And that's That's an example
of the kind of thing I find on Instagram. I
put up mortgage news, all kinds of interesting stuff on there,
and then my my other fun with what I post.
A couple of times a week are posts that are

(26:46):
one of a kind, originals not available anywhere else on
the Internet in the entire world, because I had a
I create them at my instruction. So all the all
the pictures you see on there that are weird, those
are created by A They're great and they're one of
a kind. Nowhere else in the world will you see
that picture on Instagram. So there you go, that kind
of stuff. And then you can also access the link tree,

(27:09):
Like if you want to listen to all the podcasts,
you can do it there. If you're thinking about getting
a mortgage, you know, first time home buyer next year,
this year, you can listen to podcasts. There's a lot
of information there. You can also apply for a helock
or you get started on a reverse or a commercial loan.
Reverses and helocks right now are the rates are the
lowest they've been in about four years. So if you
have interested in that, this is the time to check

(27:30):
that out. And you can get a quote within twenty
four hours by going on to the Instagram and clicking
the link tree and putting in the information and then
we'll get you back. We don't even do a hard
credit pull, just a soft credit pool to find out
and give you a quote.

Speaker 4 (27:42):
I have a question. It might be silly, not silly
in a fun way, but not.

Speaker 2 (27:47):
Like synchronized swimming.

Speaker 4 (27:48):
Now it's a mortgage question. So you know, a lot
of people are kind of stuck in their houses because
they have good rates, you know, but they also have
their house has appreciated greatly. So let's say this scenario.
I have a three percent mortgage, but I have like
eighty grand built up equity in my house. But I'm
seventy years old? Can I sell my housevny yo?

Speaker 3 (28:09):
Seventy yos seventy yo.

Speaker 4 (28:11):
If can I sell my house and get and buy
a house with a reverse mortgage and keep all the difference?

Speaker 2 (28:18):
You can? Yeah, you can buy a house with a
reverse mortgage. Yeah, but it has to be your primary residence.

Speaker 4 (28:23):
Yeah, I'm saying, So I have all this equity, I'd
like to use it, but I don't want to give
up this great rate. But if I sell my house,
I got nowhere to go because everything else is so
much more expensive in the rates you're so much higher. Yeah, reverse,
could you go in with the reverse mortgage?

Speaker 2 (28:36):
You can? Yeah. People think of reverse mortgages as only refinances.
But a reverse port purchase is a thing. I'd say
it's about thirty percent of the reverses that we do
our reverse purchases. And so what that means is that
you put money into the property. There's going to be
a certain level required depending on yours.

Speaker 4 (28:53):
I sold my house and I made let's say one
hundred grand out of it.

Speaker 2 (28:56):
So we have to figure out the math based on
your age and the purchase price. So forth. You are you?

Speaker 4 (29:01):
No, you look great in this scenario.

Speaker 2 (29:05):
I'm but I don't know the mathematical tables in my
head to tell you the percentage. But let's say you're seventy,
then that means you might have to put down fifty
percent of the of the purchase price. It kind of
allows you to double. Well, the older you get, the
less it is, all right, but let's say it's fifty percent.
It's still very valuable. So let's say you got you
sell your house up north. This is what a lot
of the reverse purchases I get. Are people sell their

(29:27):
house up north that come down here with two three,
four hundred thousand. Let's say you've got three hundred thousand,
so you could buy a three hundred thousand dollars house
cash right, but with a reverse purchase, you can take
that three hundred thousand and put it towards a six
hundred thousand dollars property right and have a reverse mortgage
that you don't make any payments on. So you can
you can use your cash with a reverse for purchase

(29:49):
to buy a much nicer house and not have to
pay payments on it. So instead of having a three
hundred thousand dollars house with no payments, you can have
a six hundred thousand dollars house that's a reverse with
no payments except for your taxes, insurance, and your HOA fees.

Speaker 4 (30:03):
And then and then if you wanted to pass that
to your kids and you died, then they would just
take over, they'd pay off that mortgage.

Speaker 2 (30:08):
There's all kinds of things, you know. The first thing
is that the balance of the reverse can never go
higher than the value of the property, so it can
never be upside down. On reverse mortgage, your family typically
has if you pass suddenly, they typically if they want
to sell the house, they have up to a year
to sell the house and pay off that reverse mortgage,
or they can do a refinance of their own or
they can you know, sell the house. It just depends

(30:29):
on the scenario. But there's always going to be equity there.
It's just a question of how much they could also
you know, get a forward mortgage and move into the
house and live there if they wanted to. So there
you go. Great question, m Jenny, Thanks for texting that
into seven seventh zero three one.

Speaker 4 (30:46):
Here's somebody who said beat up says, Happy Saturday, y'all.
What beat ups? Call on you Outritz what. I always
appreciate the inf I give from this program. Keep up
the good work. Thank you for your encouragement. That's right.

Speaker 2 (31:00):
You about my panic attack yesterday? No, remember a couple
of weeks ago, I told you I got I got
a ticket that I was kind of annoyed about.

Speaker 4 (31:07):
Yeah, seven miles over or something.

Speaker 2 (31:09):
Yeah, when I was in the middle of the night,
like twelve forty twelve forty five in the morning, I
had to go to the all night drug stores get
I was, you know, get illness, you know, fleu, COVID,
whatever it was. I got the ticket on the way back,
very annoyed. Seven eight miles over. Okay, fine, So my
panic attack yesterday was I was thinking in my head

(31:29):
that the date, you know, you have thirty days to
do something with your ticket, And I was thinking that
the day that I had to watch for was like
around the twenty fourth of January. Turns out it was
the eighteenth, which meant I had one day to deal
with said ticket.

Speaker 4 (31:44):
So what'd you do?

Speaker 2 (31:47):
Well? I've got you know those places. Let me tell
you another fun fact. When you get a ticket, like
within three days, you can get about forty five postcards
in your your mail, your US mail, all right, because
I guess they have access to the county records or something.

Speaker 3 (32:02):
And they're all like worried about going to jail. Did
you just screw it up big time?

Speaker 2 (32:07):
Buddy?

Speaker 4 (32:09):
Do our comedy class?

Speaker 3 (32:10):
Yeah?

Speaker 2 (32:11):
Yeah, you get.

Speaker 4 (32:13):
Our classes just puppets, But they always try to make
it something you know you're gonna not hate.

Speaker 2 (32:20):
It's like it's like what they're doing on YouTube with
the Australian Open.

Speaker 3 (32:25):
I don't read about that.

Speaker 2 (32:26):
That's crety. They're showing the Australian Open, but because they
don't have the rights to broadcast it, they're doing it
with little avatars, like like when you used to bowl
on Wii, you know you have your little person you
create they're shutting the Australian Open on TV, but with
we characters. But the play the gameplay is the gameplay
for the game, but with different little avatars. Okay, somehow

(32:48):
that's the thing.

Speaker 3 (32:49):
That's Yeah, that's cute.

Speaker 4 (32:51):
I like it. I might be interested in it.

Speaker 3 (32:53):
You might.

Speaker 2 (32:54):
Yeah, they're saying they're getting hundreds of thousands of They're
saying it's an entire market that would never see regular
TV where it's being broadcast, but on YouTube they have
interest apparently in.

Speaker 4 (33:03):
The like do they fight like in real soccer?

Speaker 2 (33:08):
I think if the referee gets mad you he just
picks you up by your shirt collar like on the
way and moves you over to the side and drops
it like I got distracted.

Speaker 3 (33:17):
Where were we talking about?

Speaker 2 (33:19):
So you don't know, I think about it.

Speaker 4 (33:23):
I would like to buy a piece of land and
a container home. Can you get a loan ticket?

Speaker 6 (33:28):
Yeah?

Speaker 2 (33:28):
You a oh man? So anyway, so I I one
of the one of the You get all these cards
in the mail for attorneys for people. They will fix
it people that money back guarantee if they don't.

Speaker 4 (33:40):
Fix your ticket.

Speaker 2 (33:41):
So yeah, I tried this attorney that says the money
back guarantee if he didn't, you know, fix my ticket.
So we'll see.

Speaker 4 (33:46):
All right, there you go.

Speaker 2 (33:47):
But uh and so apparently you can do that on
the last day before your ticket. Wow, that's cool.

Speaker 4 (33:53):
So he has to quick, quick do something.

Speaker 2 (33:56):
I think, Yeah, they have to. I don't know do
the If I know how to do it, I would
just do it.

Speaker 4 (34:02):
They know how to do this. The secret thing.

Speaker 2 (34:04):
I'm a mortgage expert, he's a ticket experts.

Speaker 4 (34:06):
So there you go, and you know, expert recognizes expert.

Speaker 2 (34:09):
There you go. All right, well we'll see.

Speaker 4 (34:11):
I'll follow up and recognize his game.

Speaker 2 (34:13):
He did. He did tell me that Seminole County was
two months, roughly two months behind on their traffic stuff,
the traffic ticket stuff, court and all that. So I
guess they've been issuing a lot of tickets up in
Smuel County, is what it sounds like. Wow, But we'll see.
I'll report back later and tell you how it went.

Speaker 4 (34:28):
I think the officer was pulling you over because he
thought maybe he'd had too much Christmas cheer. Well, yeah,
he was trolling for people coming home from Patez, not
people going to get a COVID flu test.

Speaker 2 (34:39):
Yeah, and doing his job. You know, I don't want
people driving drunk on the road. It was at a
Saturday a few days before Christmas, at twelve forty five
in the morning. You know, probably a good possibility if
you pull somebody over there.

Speaker 4 (34:50):
He could have once he talked to you and saw
that that wasn't the case. He could have been like,
all right, hope you feel better, go home.

Speaker 2 (34:55):
Yeah, that's that's why. That's why the court is two
months behind.

Speaker 4 (35:00):
He's like, nope. So the question was I want to
buy a piece of land for a container home. Is
that something that you could I get a loan for both.

Speaker 2 (35:07):
You can get it. You can get a loan for
the land, but we don't really have the problem with
the container homes is that you know what I'm gonna
have to We don't have a lot of time on
I want to explain I want to explain it thoroughly. Okay,
So what I'm gonna do is pick that one up
after the break and I just want tonother lettery. But
know you are listening to the Home Loans radio show
with that mortgage guy don We are live. We're right

(35:28):
here on Saturday morning. You can text into seven seven
zero three one and join the conversation. You can also
go to my Instagram at that at that mortgage guide Don.
From there you can get to all the podcasts, the website,
to the applications to the podcast already said that, all
kinds of stuff there. We're going to be right back
after these commercial messages.

Speaker 4 (35:49):
Hey, it's the Brana from the news junkie.

Speaker 5 (35:51):
Do you have a question for that mortgage guide Don
Text him at seven seven zero three one.

Speaker 2 (35:56):
No.

Speaker 3 (35:56):
Back to home Loans Radio on real radio.

Speaker 4 (36:10):
Yeah, like staying for the keyboards.

Speaker 3 (36:16):
Oh I like it.

Speaker 4 (36:17):
You are listening to Home Loans Radio with that mortgage
guy done and Fritz in the high tower making sure
everything happens as it should. Thank you, Fritzy. Thank you.
Text us your questions at seven seven zero three one.
Your questions about mortgages, about SBA loans, about homestead exemptions, forget.
We just keep forgetting. Like last year we couldn't get

(36:40):
enough of it. Now we just keep forgetting it.

Speaker 2 (36:42):
I think we have more news this year.

Speaker 4 (36:44):
Stuff going on, also things questions about he locks. What
you got anyway, tell us what you're doing out there.
I'd like to know.

Speaker 2 (36:53):
That's the number one loan we're doing right now. Lines
of credits. Yeah, he locks anybody who got a mortgage,
their first mortgage, like in the to early COVID post
COVID range, you know, twenty nineteen, twenty twenty, twenty twenty one.
You know, a lot of people have super low rates
like in the twos and threes, even fours, and they
have We're actually at the highest amount of equity that
Americans have ever had locked up in their properties right now,

(37:15):
trillions of dollars, and then people don't want to refinance
and get rid of the you know, they're two percent
or three percent rate. So we are seeing a ton
of people wanting to tap into that equity and doing
a home equity line or fixed rate second mortgages to
do it. I just I'm so amazed at how many
of them are are being done right now. But it
makes sense. You know, the rates are you kind of
stayed up too high to do a refinance to cash

(37:37):
out refinance, and rates on the helocks are the lowest
they've been in four years, so it's it's an ideal
time to do it.

Speaker 4 (37:43):
So we have a question about helocks. But first I'm
going to circle back, circle, circling back.

Speaker 3 (37:48):
On half the circle back.

Speaker 4 (37:49):
But there we go. I like it to the container
home question.

Speaker 2 (37:55):
Oh yeah, yeah, yeah.

Speaker 4 (37:56):
So it was I'd like to buy a piece of
land and a container home. Could you do a loan
for both?

Speaker 2 (38:02):
So currently we can't do loans on container homes. The
main reason is so anytime you're doing a mortgage, the
whole thing is that you have to place a value
on the home for the bank, for the underwriter, and
the way we do that is through an appraisal. And
the way that an appraisal works is like, if your
house is in a neighborhood, they want to find other
houses the same age, the same square footage within a

(38:22):
half mile that have sold within the last three months, right,
and then they look at three to six of those,
and that's how they kind of ascertain your value based
on what the others have been selling for. And if
they can't find them within three months or within half
a mile, then they'll go out to a mile. If
they can't find them there, then maybe they'll go a
little higher, a little lower in age or square footage,

(38:43):
till they find the comparables of other homes that have
sold in the last six months to a year. That
are similar to yours, so they can pin a value
on it and they send that appraisal to the bank,
and that's how the bank knows the collateral is where
it's such and such. Right, the problem with a situation
with container homes is there are no comparables. There's no
way to do an appraisal. We run into that in
some communities, like if you tried to build a log

(39:04):
home in Sanford, there's no other log home comps. You know,
there might be, I mean, I don't know for sure,
but probably very few. Whereas if you're trying to build
a log home in North Carolina, you know, everything's a
log home, so there's plenty of comparables. So the main
issue with building container homes, it's not that there's a
problem with that type of home. It's that there's no
way to value it. There's no way to get comparables

(39:24):
until there are more of them.

Speaker 4 (39:26):
And comparables only count for sales.

Speaker 2 (39:28):
Right.

Speaker 4 (39:28):
It doesn't mean that there's just a home like it.
It means it has to have sold.

Speaker 2 (39:31):
It has to have sold that's yeah.

Speaker 4 (39:32):
In the last six months.

Speaker 2 (39:33):
Right. That gives That tells you what the market value
is is what it's sold for us, you know. Yeah,
it's like if you went around to six stores, six
grocery stores, you could get an idea of what bananas
are selling for, you know, with a good comparable what
this one is a dollar, this one's a dollar ten,
this one's a dollar five, and then you get a
good average of what you know bananas are selling for.
Same with homes, and we had that problem i would

(39:54):
say four or five years ago with the tiny homes
when those neighborhoods started popping up where we didn't have comparables.
Now there are enough comparable nearby in most cases, if
you're buying a tiny home and a tiny home neighborhood
that there are comparables, and we can do those loans
through faha. Now, So it's not about the container home itself,
like that's something we can't do. It's just that there
aren't enough of them yet. So that's the that's the main.

Speaker 4 (40:14):
So if you're building, if you've got land and you're
building a container home in a neighborhood of container.

Speaker 3 (40:18):
Homes, then then we can do the container Then there's
a change.

Speaker 2 (40:21):
Yeah, if they could find six of them that are
sold in the last year, then that's how we know
where at the level where it's something that's going to
be commonly financed, we're not there. And they are also
these prefabricated metal homes. I'm getting a lot of questions
about those. It's like where you go online and you
you look at a picture of the home and you
have the land, you put in, the slab, the foundation, the.

Speaker 4 (40:37):
Electrical thing where the truck goes by with half a
house and then the next truck goes by with another
half a house.

Speaker 2 (40:42):
Well, no, those are manufactured homes or but but it's
basically like a huge box truck that comes Iikia. It's yeah,
and it's all metal, and it's all prefabricated and people
just assemble it on the slab and build those homes.
And those are becoming more more popular. They're about half
the cost of our regular home. How are they a
hurricane Well, I assume they meet hurricane standards. You know,

(41:05):
I don't know. I don't know a lot about it,
but I know the things I get a lot of
questions about. And that's one. Container homes. I'd say probably
once or twice a week I get a question about
container homes. So I think that eventually we will be
able to finance them. It's just a matter of time.
And I've also read that a couple of the people
building those metal homes and building the container homes or
financing themselves, and that's kind of how it get started.

(41:26):
When the builders finance them, and eventually you got a
little community of them, then we can start to see
the comparables and what they're actually worth. Great question. Thanks
for texting that in the seven seven zero three one.
That's how you do it. Go ahead, I m jay,
we got time for a quick one.

Speaker 4 (41:39):
I got two helock questions. Here's one. I'm self employed.
What are the income requirements needed to take a helock?
How far back do you go looking at pay steps?

Speaker 3 (41:46):
That's a good question.

Speaker 2 (41:48):
Yeah, but if you're self employed, unless you're paying yourself
a salary, you're not going to have pay stubs. But basically,
if you're self employed, and we're doing it in a conventional,
conforming kind of way, we have to go back two
years of tax returns and evaluate those your taxable income.
There's certain things we can add back in, like depreciation
and you know, certain expenses and things that little business

(42:09):
losses and things like that. We can factor out, but
we also have this is something we have. I think
it's pretty unique compared to any bank or online helock
that you're going to try and get. We can do
helocks based on your business bank statements, the deposits that
go in there. So like if you have taxes and
you wrote off a bunch of stuff and showed twelve
cents on your taxable income, then we can use the
deposits going into your bank account to verify your income

(42:32):
like twelve months of bank statements. We can also do
p and ls through a CPA. So there's all kinds
of options that we have that other banks don't have
for helocks. You want to find out more, go to
the website that Mortgage guide don dot com. We're going
to take a quick break. We'll be right back at
the top of the hour.

Speaker 6 (42:50):
So hey, hey, hey, hey, hey, hey hey.

Speaker 4 (43:11):
It's just interesting. That does not sound like the usual Fritz.

Speaker 2 (43:15):
Yeah, I'm trying to figure out which one of the
Fritz creations that is. Who? Who is that is that something?
Are you throwing it? Are you throwing me a curveball? Friends?

Speaker 3 (43:22):
Yeah, it's a curveball?

Speaker 4 (43:23):
All right?

Speaker 2 (43:25):
What do you got?

Speaker 3 (43:26):
Who is that that's Sean Moore. He's a good friend.

Speaker 5 (43:29):
Uh, he's been on a bunch of uh Fritz stuff.
But that's his new single, I Reveal came out yesterday,
his first single in like a decade.

Speaker 2 (43:38):
Wow, where they can find his stuff.

Speaker 5 (43:40):
He's a label mate of mine. That's Sean Moore, s
E A N More with two o's and uh, you
just check it out on Spotify wherever you listen to music.

Speaker 2 (43:48):
Sean Moore, there you go.

Speaker 4 (43:51):
Who I like it a good vibe. It's got a
good vibe.

Speaker 2 (43:55):
I'm gonna check it out.

Speaker 4 (43:56):
Me a little of our Pink Floyd that we were
listening to, right, Yeah.

Speaker 2 (44:00):
Fritz bringing us new I like it, new mind, broadening
down music every week and playing Thank you as always
for curating the show's music and using so much of
your own. Yes, you're listening.

Speaker 5 (44:15):
You know, I can only play so much of my own,
and I'm like, I'm getting a little bored.

Speaker 3 (44:19):
I'm going to play someone else.

Speaker 2 (44:22):
I think if you played a song a week, we'd
be able to go for about five years. Yeah, you're
listening to the Holmeloans Radio show with that mortgage guy Don.
That's right, that's me. We're here doing what we do
every single Saturday. What do we talk about here? MJ.

Speaker 4 (44:37):
We talk about the mortgages, and we can't stop talking
about it. It's so good.

Speaker 2 (44:45):
It's funny that you say that, because I feel like
you're always trying to not talk about mortgage.

Speaker 3 (44:48):
That is true.

Speaker 2 (44:49):
Like you brought up, like you talked, You talked about
your new synchronized swimming team that you're creating for Like,
I don't know, forty five minutes earlier today, who's on
the team so far?

Speaker 4 (44:59):
Just me?

Speaker 2 (45:00):
Darcy said she.

Speaker 4 (45:01):
Would I have I have a choreographer and one swimmer.
They'll be tryouts.

Speaker 2 (45:10):
I wish this was real because I would get so
many good videos out of there.

Speaker 3 (45:13):
I was gonna say, I wish she was joking.

Speaker 4 (45:21):
We do have some mortgage questions here on the show.
You can text in your question is seven seven zero
three one and we will answer it. Well, not we
mostly the uh the mortgage guy done, but we have them.

Speaker 2 (45:30):
How do you feel about the TikTok band if it
goes through?

Speaker 4 (45:34):
Man, Well, you know it's out of my hands.

Speaker 2 (45:36):
Yeah, there you go. That's a good attitude.

Speaker 4 (45:38):
You can't you know there it's a long standing law
for the people don't know is that you can't be
a foreign entity and own a communications company in America.
So when Rupert Murdoch bought Fox News and was working
on that media empire, he had to put it on
hold until he became a US citizen. Oh wow, because
he was Australian. So, I mean that's a regular This

(45:59):
has been a law for a long time. So that's
where the TikTok. So it's like two years.

Speaker 2 (46:03):
It's like equivalent with a news outlet. Yea, yeah, that's interesting.

Speaker 1 (46:06):
I did.

Speaker 2 (46:06):
I did read that something yesterday. Man. The data that
it has access to you in your phone is everything.

Speaker 4 (46:13):
Everything in your phone. It can, it can it has
your passwords, your your emails, your it's got your stuff.

Speaker 2 (46:20):
You take a picture of a weird mole in the
middle of your back because you can't quite see it. Well,
TikTok has that. Now.

Speaker 4 (46:26):
It's pretty crazy. And and and you know, the potential
of it being weaponized is not you know, it's there,
So there you go.

Speaker 2 (46:34):
Well, the thing I've been reading about, you know, some
people that are obviously really upset.

Speaker 4 (46:39):
About people that people have their livelihoods on it, influencers.
I love it.

Speaker 2 (46:43):
Yeah, there's one that I was reading about because I'm
in the mortgage business. There's someone who's a mortgage influencer
and had upwards of one hundred and fifty thousand followers
on TikTok, and this was the whole basis for her
business for years. Now is where she's gotten all of
her business, and now that is disappearing. That's that's I mean,
I think it's a good thing if it's if they're stealing,
you know, our information here in the US. But it's

(47:05):
also going to have a big impact.

Speaker 4 (47:07):
Don't you think that someone will come and fill that hole?
You know, somebody will show up and make a version
of it that's safe.

Speaker 2 (47:14):
If you haven't already, you know, I don't know why
you haven't. It's going to be interesting. We'll see. But
TBD on that.

Speaker 4 (47:21):
Right, EBD, we do have some mortgage questions.

Speaker 2 (47:23):
Yeah, go ahead, and you can text in yours to
seven seven zero three one and join the conversation.

Speaker 4 (47:28):
All right, here's a word I'm going to mispronounce. I
don't mean to, but I don't know how to pronounce it.
Thank you for warning, you know, does hey Fritz, we're
building a Q on set home there it is. Yeah, okay,
all right. Home in Belusha. Total build is about seventy
five thousand dollars, so much cheaper and stronger than a home.

Speaker 2 (47:49):
You know what a concet do not. We've actually got
one here in Central Florida, but uh, a quantt like
it used to be in the military. You see. It's
like a imagine you had a big pipe and you
cut it in half, okay, and you took half of
it and that was a house. Okay, So it's big.
You used to see them on a military basis, marine bases.

(48:10):
I think, I get. We've got one in town. What's
that It's like a tube. It's like half of a tube.

Speaker 4 (48:17):
Okay, at the bottom half of.

Speaker 2 (48:18):
The well either way you're going to flip it over
so that it's like a dome.

Speaker 4 (48:23):
I see, Okay, I know what you mean. If you know,
like in the movies in the military base they have
the they have the big dome buildings.

Speaker 2 (48:30):
Yes, we have one nearby in central Florida, over by
the intersection of four thirty six and seventeen ninety two.
There's a Crystals that's been there like, oh okay forty years.
And then just down from that there's a building. I
don't know what's in there, but it's a big metal
silver what mean? Yeah? And I think they some sort
of warehouse or something in that. But yeah, that's a
and you can see why that would be less expensive

(48:52):
than a home because it's strong.

Speaker 4 (48:54):
You can see why it'd be strong. It'd be one
one big piece.

Speaker 2 (48:57):
Yeah. I don't I don't know if I esthetically would
find it pleasing as a home, you know, but I
think it would certainly be efficient. They said they're building one,
or they have one.

Speaker 4 (49:07):
They are building one in Vlusha County, YEP.

Speaker 2 (49:10):
Go follow follow me at that mortgage guy. Don I
love to see a picture of it as it gets together.
Check it out. We'll post it and take a look
at it.

Speaker 4 (49:17):
Thanks. How do you know which is a better fit
helock or a second mortgage? I'll be using it for
home improvement projects.

Speaker 2 (49:23):
Well that's there's two questions there really, But the how
do you know what's better? Well, my helock expert Laura
is going to tell you you know, based on your situation.
Here's how it goes. If you want to apply for
a home equity line of credit, you go to the
website that mortgage guy don or Instagram at that mortgage guy,
don you hit apply for a refinance. Laura, who is
my helock and second mortgage expert, is going to talk
to you and do a little interview process and depending

(49:45):
on what you're gonna do, how how you're going to
use the money, whether you need to do it in
four draws, or whether it's going to be so like
if you're if you're buying a pool, well you're going
to just you know, you're gonna want to do a
loan for sixty eighty grand whatever that pool costs. If
you're going to do a year worth of renovations, then
you might want a helock where every couple of months
you can take a little more money out. So Laura
is going to talk it through with you and figure

(50:06):
out what you're trying to do and which one's gonna
accomplish it. They asked, which is better a helock or
a second mortgage? To helock is a second mortgage. It's
a type of second mortgage. But there's about a dozen
different variations of second mortgage. And that's what we're gonna
help you figure out is based on your needs, what
you're gonna do it, how much money you need when,
and then help you figure it out. And then once
we know the type, then we're gonna shop around because

(50:27):
we've got a dozen different outlets for each type and
get you the best rate and the best deal depending
on your score or your income, your loan to value
and that sort of thing. So best way go to
at that mortgage guide don on Instagram or the website
and start a refi application. Usually within not on the weekend,
but usually within twenty four hours. You'll have a quote,
a written quote in your hand. No hard credit pull.

(50:47):
It's pretty easy.

Speaker 4 (50:49):
Someone who's saying there are many of those huts in
downtown Orlando, especially in the warehouse areas, I do.

Speaker 2 (50:54):
Think I've seen some of those. Yeah, I mean they
were pretty commonly built in the fifty fifties and sixties,
so I think, and you can see they've held up.
And you know you don't need a roof. You don't
know you don't need a roof.

Speaker 3 (51:08):
Go ahead and saying that for a decade.

Speaker 2 (51:11):
I mean, you wouldn't need to put you don't put
shingles on it. I guess that's what I'm saying. There's
not a piece of the conset hut replace every twenty years.
You might have to put some I think they paint
them with rubberized paint so that they don't leak.

Speaker 4 (51:22):
Here's somebody said, morning, happy, gloomy Saturday, working out in
the shed, and my daughter decided to join me. Give
Georgia a shout out. Georgia, Hey, Hi Georgia, Hey Georgia.

Speaker 2 (51:32):
Welcome to Welcome to the family.

Speaker 4 (51:34):
Is it time for the uh? Compare your quote?

Speaker 2 (51:37):
Took the words right out of my mouth. Yeah, guess
what time.

Speaker 4 (51:40):
It is, m J Time for the compare quote.

Speaker 2 (51:42):
It's time for the compare quote of the week. There's
the jingle just like it says, don't miss the boat,
compare your quote. What's that you asked? Well, something I
came up with a couple of years ago to try
and make it. There's a report that came out at
the time that said that less than twenty percent of

(52:04):
people compare their quote their mortgage quote when whether they're
buying or refinancing or getting a helock or averse. Only
less than twenty percent compared their quote. That's actually gone up.
A new study came out this year that says twenty
four percent. Maybe I'm moving the need Yeah, I don't know,
but you can compare your quote right there on the website.
You don't have to you don't have to have a
credit pill. You just go in, you put in your name,

(52:25):
you tell me your credit score, you upload the quote
you have. I personally, I do every single one of
the compare quotes myself because I want to make sure
that they're one hundred percent accurate. So I don't I
don't farm these out to my team. I do every
single one of them. And I'll call you and talk
to you and review your quote, and then we'll tell
you if it's any good, we'll let you know. If
it's bad, I'll let you know what we could do instead,
and we'll go from there. This week, this was a

(52:47):
new purchase client, a VA veteran client. As you know,
I'm a veteran. I'm an Army veteran, and I really
try and take good care of the veterans that apply.
And I'm also an expert in VA lines. And that's
that's not to underestimated because the VA is kind of
like part of the military, and there can be some
confusing rules, you know, in VA loans, and the rules
were written thirty years ago and they've hardly changed. But

(53:10):
so you really want someone who's an expert on VA loans.
And this is a perfect example. These folks had they
got a quote of seven and a half on a
VA loan, and they had good credit. I knew right
away that's terrible. You should be in the sixes for sure.
The other thing they had on their quote was that
they were charging them sixteen thousand dollars for the upfront
VA funding fee. So what this person didn't do as

(53:32):
part of their quote when they did the application for
these folks would go to the VA portal and pull
up their certificate of eligibility, and if they had done
it like I did, they would see that they had
ten percent disability rating from the military. What that means
is you're you're exempt from that funding fee of sixteen
thousand dollars. You don't have to pay it. It doesn't
go on the loan that's normally added on top of

(53:53):
the loan. So that a loan saved them sixteen thousand dollars.
The other company was also charging them for that seven
and a half rate sixty two hundred dollars in origination fees.
After I got the VA certificate of eligibility. Saw the exemption.
They're also going to be exempt from part of their taxes.
Down the road, our rate was five point ninety nine
with zero fees, So they were they were offering them

(54:13):
seven and a half with twenty two hundred dollars twenty
two thousand dollars in fees, and I was able to
get them five point nine to nine with none of
those fees.

Speaker 4 (54:22):
Wow.

Speaker 2 (54:23):
Imagine if they didn't compare for twenty two thousand.

Speaker 4 (54:25):
How did they respond? Did they like do carwheels? They
jumping up and down or over.

Speaker 2 (54:29):
The moon, you know? And they said, I I planned
all along on getting you know, comparing the throat with you.
I wanted to compare it with my credit union, and
as as promised, you know, you did a much better deal.
One and a half points less is a lot on
a mortgage on a mortgage payment.

Speaker 3 (54:44):
Wow.

Speaker 2 (54:44):
Saves them over six hundred a month.

Speaker 4 (54:46):
Wow. And that giant amount that they would have had
to pay they don't have to pay.

Speaker 2 (54:51):
They're going to save forty nine thousand in interest over
the first five years, plus the twenty two thousand they
already saved. How did they do it? You ask, Well,
they compared their quote and friends. Don't let friends get
mortgages without comparing their quote with that mortgage guy. Don
and please, if you're a veteran, make sure you're talking
to somebody that knows VA loans and knows whether you

(55:11):
have to pay those VA funding fees. Sometimes they're reduced.
Sometimes there are different ways to do it, but you
want to make sure that you're talking to somebody that
knows it. Anybody who's out there or knows a veteran,
if they got a quote, please tell them to come
to me. I'm going to take a look at it.
Ninety nine times out of one hundred, they'll be able
to get a better deal. Uh. And as the jingle says,
you know what, I'm gonna have a little fun with
us today. You know the jingle says, don't miss the boat.

(55:35):
Compare your quote. I've been I've been trying to think
of some other ones that could that could fit in there.
Here's what I have. Don't smell like a goat. Compare
your quote.

Speaker 3 (55:44):
Yeah, I like that one.

Speaker 2 (55:45):
You like that one?

Speaker 3 (55:46):
I don't record that all right?

Speaker 4 (55:48):
Jump over the moat. Compare your quote.

Speaker 2 (55:49):
There you go, don't don't fall in the moat. Compare
your quote.

Speaker 3 (55:52):
Okay, what you or I.

Speaker 2 (55:53):
Had that one? What do you got, Jeff? You got
another one? We got to.

Speaker 4 (55:59):
Take a are your quote?

Speaker 2 (56:00):
Oh Jesus, that's fun but not rhyming. And then you
go quote you could say, get a free tote. Compare
your quotes.

Speaker 4 (56:11):
Okay, all right, all right.

Speaker 2 (56:13):
Don't get yourself smote.

Speaker 3 (56:16):
Yeah, very biblical.

Speaker 4 (56:18):
Yeah it's biblical.

Speaker 2 (56:19):
Yeah, avoid the bloat. Huh, I'm just making this up.
I uh, what else? What we got? Don't missed the boat?
Compare the quote?

Speaker 4 (56:33):
Plays the jingle. I don't know that we can improve
upon that.

Speaker 2 (56:45):
No beautiful jingle written by Fritz and performed recorded with Missus. Fritz,
and thank you so much for making such a cool jingle.
I've had a few people recently asked me about the
jingle and now they want to get a jingle. I'm like,
reach out to Fritz, change out to me at no
underscore regrets, underscore coyote. You two can have a cool jingle.

Speaker 4 (57:06):
What if I just want to jingle just from my sale,
that's fine, sure, just like an MD jingle. Yeah. Sure,
It's like when I enter rooms, I'm gonna hit it.
It'll be like MJ.

Speaker 2 (57:14):
You just hold up your smart speaker and play it in.

Speaker 4 (57:16):
When I walk in, everybody like, oh, I'm jazy.

Speaker 2 (57:18):
I like it a lot. We're gonna be right back
for the final segment of today.

Speaker 1 (57:22):
Do you have a question for that mortgage guy Don.
Text us at seven seven zero three one. Now back
to Home Loans Radio on Real Radio.

Speaker 5 (57:31):
That's it the final segment of the show. But you
can still text in those questions. If you have any
lingering doubts about buying a home or selling a home,
or helock or refinancing, just send it to seven seven
zero three one.

Speaker 3 (57:45):
Text it in seven seven zero three one.

Speaker 5 (57:47):
You can also follow Don at that Mortgage Guy Don
on Instagram.

Speaker 2 (57:53):
There it is welcome back to the Home Loans Radio
show with that Mortgage Guy Don. As the man said,
follow me on Instagram. We're up over thirteen hundred man,
such a far cry from just a couple months ago
and we had zero plint two followers on Instagram. Follow
us there at that mortgage Guy Don. Try and post
interesting cool stuff all during the week. I'm thinking about

(58:14):
I know you've got those sunflowers growing in your yard, Fitz.
I think we should post a weekly update of the
Fritz's Flowers. We could call it. What do you think
I like that?

Speaker 5 (58:22):
I mean, you know, it's just flowers that squirrels planted,
but I love it.

Speaker 3 (58:27):
Is that all that makes it better?

Speaker 2 (58:30):
I also forgot to mention in the mortgage news it
is that time of year to file your homestead exemption.

Speaker 4 (58:37):
It is.

Speaker 2 (58:37):
If you have not done it, then now's the time.
If you bought your house any time in twenty twenty
four and it's your primary residence, you can get a
tax break right now, only for about six more weeks.
It's a limited time offer. Every the's not like a
commercial right thing. If you bought your house, you have
to go and file a certain form with the county
at the County of Property Appraiser's website, tell them that

(58:59):
you bought the house last year, that you're living in it,
and then when your tax bill comes out in November,
you will have a big discount. Or if you've never
filed your homestead exemption in the past, you can do it.
It's like so, even if you bought seventy years ago
and you didn't do it, you can do it now.
And if you're not sure, here's how you find out.
You go to the county property appraiser and you look
up your tax bill and it will show you if

(59:19):
parts of it are being discounted for homestead exemption. Either
twenty five thousand or fifty thousand are the most common
exemptions you see. If you haven't done it, make sure
you do it because February it ends in February. If
you don't do it by March first, you have to
wait a whole another year till next January. I guess
what time?

Speaker 4 (59:36):
It isn't time for the speed round?

Speaker 2 (59:38):
It is time for the speed Round.

Speaker 4 (59:43):
It is all right, Well, I was gonna ask about
homestay exemption?

Speaker 2 (59:46):
Can okay? Marking off the.

Speaker 4 (59:48):
List I did?

Speaker 2 (59:50):
I'm j's gonna filed again. I'm's gonna get to ask
me a bunch of the questions that we haven't gotten
to so far today, and I'm going to try and
answer them as quickly and efficiently as I can. If
if I don't get to years, it doesn't mean I
didn't want to. Just go to the website or instagram
at that mortgage guide don and text me the question
off air and I will answer it for you after
the show.

Speaker 4 (01:00:09):
All right, does the mortgage guy do mortgages in other
states I do.

Speaker 2 (01:00:14):
It just depends as far as Fanny May Freddie Mac residential,
primary residence, I am only licensed to do those in Florida.
But anything having to do with investment properties, commercial properties,
business loans DSCR loans, which are loans that investors use
to buy rental properties without proving their income. It's based
on the income that the property generates. All of those

(01:00:37):
I can do in all fifty states, So it just
depends on the product.

Speaker 4 (01:00:40):
All right, I'm starting a salary job in a week
and also want to refinance. How long do I have
to wait to apply with you? My income is increasing?

Speaker 2 (01:00:47):
Then yeah, that's good. Just congratulations. You don't have to wait.
You can apply now with a salary. It's different because
you'll get an offer letter. It tells us what your
salary is going to be, and then they just verify
that with the employers. So you can start that right
now away as long as the new job is going
to start before the loan closes, so you don't have
to wait to apply. We can go ahead and do

(01:01:08):
that now, get you your quotes and you can you know,
chopping around, make sure it's what the type of helock
that you want, and get it all prepared that way.
Once you start the job. We're just getting ready to close.

Speaker 4 (01:01:16):
We have an existing mortgage and a second mortgage. We're
looking to add another second third mortgage to pay off
the debt. Or can I put it all into one mortgage?
Can you have three mortgages?

Speaker 2 (01:01:26):
Most lenders the thing, so like if you have a
let's say you have a primary mortgage where you bought
your house, that's your first mortgage, right, and then you
can get a second mortgage, which is like a heelock
or an equity line to take money out of your
equity to use for things without messing with your first mortgage.
Or you could refinance that first and get cash out
that way, or you can combine them all three into one.

(01:01:47):
What should you do? Well, that's kind of what we
help you figure out when you go into the application.
We'll look thro where everything, look at what your goals are,
what you're trying to do, and then we'll do the
math and see which one is going to be better
for you math wise. So it comes down to the
pain ultimately, like for you to get what's the cheapest money,
that's what I'm always looking at what's the cheapest money.
How can we get it for You will analyze everything
and we'll be able to tell you that by the

(01:02:08):
time we finished.

Speaker 4 (01:02:10):
All right, can you tell us again about homestead exemptions.

Speaker 2 (01:02:14):
Homestead exemption you gotta file it now. You go to
your county property appraiser website. If you bought your house
in twenty twenty four, it doesn't matter if it was
January of twenty twenty four, a year ago, or if
it was just a week before the end of twenty
twenty four. If you bought it in twenty twenty four,
you have to go file now before March first at
your county's Property appraiser website. It will give you about

(01:02:34):
a twenty percent discount off your taxes. Don't fail to
do that, you're just throwing money away.

Speaker 4 (01:02:39):
If you do all right, real time, real little time.
It's an easy one. So we're gonna go with speed.
Oh boy, whichever one of you answers quickly.

Speaker 2 (01:02:46):
Fritz has the advantage. He's faster than me. Well, he's
like a little.

Speaker 4 (01:02:50):
Ninja he is, So you know, step up your game.

Speaker 2 (01:02:53):
Pure there's Fritz. Was that Fritz back? I can't see
you was so fair.

Speaker 4 (01:02:56):
All right, ready, here we go. What has a head,
a foot and four legs ahead?

Speaker 2 (01:03:02):
A foot and four legs a cow ahead a foot
and four legs a bed?

Speaker 4 (01:03:10):
Yep, you beat them.

Speaker 2 (01:03:19):
Wow, folks actually have thirty seven?

Speaker 3 (01:03:27):
Now we ain't got it?

Speaker 5 (01:03:28):
Uh?

Speaker 2 (01:03:29):
Well, you are listening to that mortgage Guide Don follow
me on Instagram at that mortgage Guide don dot com.
You can follow Fritz at no Underscore Regrets, Underscore Coyote
and I think that's about all we got you. You well, folks,
you did it, you did. You wiled away another ninety
minutes of your Saturday morning listening to us. Wow, prattle
on about all of the things. Play us out of

(01:03:50):
here with something cool, Fritz.

Speaker 4 (01:04:04):
Skimmer, what's up, closer?

Speaker 1 (01:04:19):
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Guide Don Join us every Saturday at nine am on
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