Home Loans Radio 04.19.2025 With That Mortgage Guy- Reverse Rates are Down and so are Purchase rates= Great time for a HELOC.

Home Loans Radio 04.19.2025 With That Mortgage Guy- Reverse Rates are Down and so are Purchase rates= Great time for a HELOCs too.

Episode Transcript

Speaker 1 (00:00):
It's time for Home Loans Radio on real Radio with
that mortgage Guy. Don joined 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. Welcome
to the Home Loans Radio show with that mortgage guy Don.
That's right, that's me. What are we doing. I'm an
expert in the mortgage biz and we're here to talk
about it. I'm here with my crew. Good morning, MJ,
Good morning, Good morning, mister Fritzy.

Speaker 3 (00:33):
Start on again.

Speaker 4 (00:34):
Say you're about to call me miss Fritz. Weren't you?

Speaker 2 (00:37):
No. I was gonna say mister fritzter or something, but
I realized we had a recall at the last second.

Speaker 4 (00:49):
Here we are, mister sister.

Speaker 5 (00:51):
That was a band, right, mister, mister twisted Sister, and
I got Christian.

Speaker 4 (01:00):
It was a song, this song Bye who did motor?

Speaker 5 (01:06):
And it was about I think someone who had a
wheel a wheelchair.

Speaker 2 (01:10):
I did not know that.

Speaker 6 (01:11):
Yeah, but.

Speaker 4 (01:13):
Night Ranger, Night Ranger. Yes, you know why I know
because that song really.

Speaker 2 (01:20):
Because back in the day, you know, if you went
to school here locally. I went to Okurage High School,
graduated in eighty three, Back then, they had a thing
at Disney called grad Night. You'd go out there like
at ten o'clock at night and come home at four
in the morning. They'd have all these either older bands
like The Temptations or new bands. And Night Ranger was
playing on my grad night. Oh really, Yeah, I don't

(01:43):
remember what they looked like at all, and I'm pretty
sure they don't look the same now because it's been
about ninety five years since then.

Speaker 3 (01:50):
I'm pretty sure that's their one big.

Speaker 2 (01:52):
Song, right, I think that's one, the most well known one.

Speaker 3 (01:56):
It might be a one hit wonder. Research is on it, but.

Speaker 2 (01:59):
We are here doing what we do every single Saturday,
talking about what MJH talking about.

Speaker 5 (02:05):
Mortgage amazing, Oh my goshkey, Sister Christian, Don't tell me
you Love me when you close your eyes, Rocking America,
Sentimental Street, sing Me.

Speaker 2 (02:15):
Away, Rocking America. Yeah, that was another one.

Speaker 5 (02:18):
Sorry, you had to research on it, Sister Christian.

Speaker 2 (02:24):
Trivia or Night Rangers trivia. Right, I'm in, I'm in.
I'm in the hell of switching between two phones right now,
you know when you regular? Yeah, yeah, now, I'm probably
gonna cost some outrage. You can text in your questions
to seven seven zero three one, anything I'm going to
do with mortgages, home loans, real estate or whatever we're

(02:46):
talking about, or what you're doing out there, or you know,
if you had a good time at the bowling tournament
last week. Oh yeah, that was fun. We're were talking
about that some. But yeah, I mean, I'm in this
place of switching phones and it's kind of a nightmare
where you you know, I had I wanted to try
I've had an Android for years, right, and everybody wanted
me to try an iPhone. I'm like, no, I'm not

(03:06):
doing it. I don't want to do that. I don't
want I don't want to be an iPhone person. Plus
all my other devices are not you know, on that
that same network. So I decided to try the Google
Pixel phone.

Speaker 3 (03:16):
Okay, how do it work out?

Speaker 2 (03:18):
I do not like it? No, I don't like it.
Like the the interface for dialing and for finding numbers
and for voicemails and all that. Well, that's about ninety
percent of my life as don the mortgage guy, is
being on my phone dialing and you know, dialing and
talking to people. But I'm switching back to the Android
and now I'm in that awkward phase where the phone

(03:39):
is turned on for calls and stuff, but has none
of my apps on it, none of my passwords on it,
none of the things that make life work easily. So
that's that's what's going on in my world. What's going
on in your world? Don't not that you ever had
a Google Pixel phone? No, no, And I don't recommend it,
but I mean I'm not personally didn't like it. Yeah,

(04:01):
the UI and it's just not your jam.

Speaker 6 (04:04):
No.

Speaker 2 (04:05):
Yeah, well there you go. Enough about me. Happy Easter weekend.

Speaker 4 (04:10):
Hey, thank you you too, Yeah, thank you.

Speaker 3 (04:12):
That means the equinox, the blad blade, the equinox something.

Speaker 5 (04:16):
That's how we get blood. The blood, the blood, that.

Speaker 3 (04:21):
Whole formula about the equinox, how we get Easter and
what day the Easter is.

Speaker 4 (04:25):
Oh yeah, it's.

Speaker 2 (04:26):
A yeah, like you never know what day Easter is
going to be.

Speaker 3 (04:29):
The mystery. It's all of it's miss.

Speaker 2 (04:31):
Unless you look it up, because yeah, there is a
complicated formula for determining which Sunday at Easter is going
to be.

Speaker 3 (04:37):
I read it. I still find it to be a mystery.
Well that's just me though.

Speaker 2 (04:41):
I think the cosmics, the universal whatevers are lining up
right now because not only is it Easter tomorrow, it's
also for twenty and I don't recall that happening, and
you know, at least the recent history of me, I feel.

Speaker 3 (04:53):
That that's what was missing in all my easters.

Speaker 2 (04:56):
You know, people are complaining about the price of eggs,
but I think if you combine the four twenty with
the eggs, you really only need about three eggs. You
just keep hiding those over and over and then at
the end you eat them because you're hungry. So there
you go.

Speaker 3 (05:09):
People are painting potatoes because they can't afford eggs.

Speaker 2 (05:12):
I saw that, But potatoes are more a bag of potatoes.

Speaker 3 (05:15):
Paint just paint rocks.

Speaker 2 (05:17):
What are eggs?

Speaker 7 (05:17):
Six bucks, a dozens some Yeah, it's like a price range,
you know. Yeah, it's like how much you want to
spend on a car, ten thousand or one hundred thousand, you.

Speaker 3 (05:29):
Know, depends on if you're just buying a regular street
egg or if you're buying a very high you.

Speaker 2 (05:34):
Know, if there's six dollars special egg.

Speaker 3 (05:37):
That comes from a special chicken that lives on the
top of a mountain, they're.

Speaker 2 (05:39):
Six dollars a dozen. That's fifty cents each. Right, that's
that's for a childhood memory, to secure childhood memories. Is
it worth fifty cents? I don't know. I always like
the plastic eggs. I thought they were These.

Speaker 3 (05:50):
Eggs are full of candy. Yeah, the real eggs are
full of ooh.

Speaker 4 (05:56):
Yeah, but then you get to eat eggs.

Speaker 2 (05:57):
You know. There's another thing that they're doing there, a
couple of companies capitalized. They're doing marshmallows and marshmallow dying kids.

Speaker 3 (06:06):
Oh okay, you just throw marshmallows round of your yard.
I don't think you can eat them after you hide them.

Speaker 2 (06:12):
Well, I'm sure you can. The question is, should you actually.

Speaker 3 (06:15):
Saw something on the news that there was a city
party where they threw marshmallows out of a helicopter. No,
the whole town was waiting.

Speaker 2 (06:25):
Yeah. I think the plastic eggs are good because you
can go hide those outside and they don't, you know,
get full of ants in a couple hours. But anyway,
I digress. Happy for twenty weekend. Happy Easter weekend. Hey,
thanks much ever you're celebrating. Also magic in the playoffs
this weekend tomorrow we're playing We got the seventh seed.
We're playing Boston, which we're gonna We're gonna do great,

(06:49):
but they are the number, you know, the former, the
current champs, so that might be a tough row. Last
time we played Boston was in twenty ten when we
were going to the finals with Dwight Howard. I believe, Yeah, yeah,
in the Eastern Conference finals, and that that broke our hearts. Well,
we won that series, but we lost. We lost in
the finals, I believe. And people will correct me if

(07:09):
I'm on my sports knowledge, which.

Speaker 3 (07:12):
Is we won the Cavs.

Speaker 2 (07:16):
Yeah, I'm not trying to remember what we did in
twenty two.

Speaker 4 (07:21):
I'm not trying to remember.

Speaker 3 (07:23):
I'm not trying.

Speaker 2 (07:24):
I just not even got to try.

Speaker 4 (07:26):
I'm not trying.

Speaker 2 (07:26):
Today I started to do that thing where you know,
you kind of look up like you're remembering stuff and
you look up at the ceiling, and I was like, now,
I'm not trying to remember that.

Speaker 3 (07:36):
I'm gonna just start using that all the time.

Speaker 4 (07:37):
Yeah, why do I do this to myself?

Speaker 2 (07:40):
I don't know.

Speaker 5 (07:41):
I told myself yesterday I wasn't gonna remember stuff today.
I told myself yesterday, I'm just gonna go on a
bender some eggs.

Speaker 2 (07:51):
Or twenty it up and then try and find them.

Speaker 4 (07:52):
Yeah, and then wake up hopefully it's Monday.

Speaker 3 (07:55):
Somebody had given us a throwback with God is my witness.
I thought marshmallows could fly a reference to w KRP
where they threw live turkeys out of a helicopter.

Speaker 2 (08:06):
Yeah, and you know, less Nessman tragedy ensued.

Speaker 3 (08:10):
Yeah, that's what I thought. Actually when the marshmallow is.
When I saw that, I immediately thought of the same thing.

Speaker 2 (08:15):
That's one of the few things I think you can
drop out of a helicopter.

Speaker 3 (08:18):
Fairly see, there's still going to land and be full
of dust and dirt and worms and stuff.

Speaker 2 (08:24):
I didn't say anybody was gonna like it.

Speaker 3 (08:26):
They were all scrambling around grabbing up marshmallows and filling
their little little cheeks.

Speaker 2 (08:30):
Yeah. Well, you know what I'm going to miss. Wells
that for the last few Easters, I don't know several
years now, go down to Lake ivan Hoe to the
Hammered Lamb and they would hide Easter eggs on the
lawn adult adult Eastern egg tosses. And sadly the Hammered
Lamb had to close this year because the people that
own the buildings, sold the buildings.

Speaker 3 (08:50):
So well, that was always such a good time.

Speaker 2 (08:53):
What am I going to do for Easter?

Speaker 3 (08:55):
I don't know.

Speaker 2 (08:56):
Well, luckily it's four twenty and Easter and the playoffs.
I'm sure I can find some something forever, some potatoes
to paint. I'll figure something out.

Speaker 3 (09:05):
Graveler says, awesome getting to meet you guys, and Bawl
right next to you. Thank you for letting us borrow
a ball a few times.

Speaker 2 (09:11):
Yeah, that was a lot of fun. Yeah great, yeah,
great hanging out with Graveler.

Speaker 3 (09:15):
Some shenanigans were a foot in Watson's lane where our
balls were getting stuck behind the pins and not coming back.
That happens, it's.

Speaker 2 (09:21):
True a lot. Yeah. Lane ten, Yeah, attention, you need
you need to fix Lane ten. The ball we had,
like you know how you have the whole tray of
bowling balls full where there's like ten bowling balls and
two lanes are sharing them. Oh yeah, one of the
lanes just kept eating the balls, so we'd be down
to like three balls. Last year, everybody was trying to
throw balls that didn't fit their hands and fit their fingers,

(09:41):
and it was quite a shenanigans. We'd have to go
over and say, hey, can you send someone to fix that?
But they got it fixed.

Speaker 3 (09:47):
Here's the one that says grad Knight was great.

Speaker 2 (09:49):
Yeah, you know, I don't know. I don't know if
you could do it these days, but it was fun
back in the day.

Speaker 3 (09:54):
I didn't go to grad Night, but I went to
a thing that was like a party at Disney where
they had lots of bands. It wasn't called it wasn't
for grads, but it was just a They used to
have these nights where they just had lots of bands everywhere.
Okay a concert, yeah, like a big concert. It was everywhere. Yeah,
I did that. I was I think I was in
seventh grade and I saw the village people, the village people,

(10:15):
Casey in the Sunshine band.

Speaker 2 (10:16):
Wow, what were you three.

Speaker 3 (10:20):
Long time ago? It was a long time ago.

Speaker 2 (10:23):
Well that's that's that's you know. I don't know how
many people have seen the actual village people live, but
there you go.

Speaker 3 (10:28):
Here's someone says, ha ha don with a burner.

Speaker 2 (10:31):
Uh no, yeah, I keep it tape to the back
of the toilet tank. And that's the right humidity.

Speaker 5 (10:38):
Right next to the snub nose and forty six thousand
dollars petty.

Speaker 3 (10:42):
Cash in your bottle of pappy.

Speaker 2 (10:47):
Well yeah, there's really not room for anything in the
toilet tank. It's just full of liquor and.

Speaker 5 (10:54):
Uh all full of go bag. Yeah, put my go bag,
I go back. I have my second passport in there.

Speaker 2 (11:03):
Right, filterless pall mall cigarettes, the whole couple of emergency
eggs yeah, yeah, and a bag of marshmallows take out.

Speaker 3 (11:14):
We do have some actual questions.

Speaker 2 (11:17):
Get there. You're listening to the Home Loans Radio Show
with that mortgage guy down. We're here. We're doing the thing.
You can text in your questions. Please do anything having
to do with mortgages, home loans, real estate, buying a home,
selling home. I'll answer those and in between we're just
gonna do what we want to do that's right and
have a good time right here on the Home Loans
Radio Show. Text into seven seven zero three one. That's
how you do it. Seven seven zero three one. Tell

(11:38):
MJ what you're doing out there, and you know, we'll
chat about it.

Speaker 3 (11:43):
How are the sunflowers doing great?

Speaker 4 (11:45):
Yeah, they're let's see they're in the third generation.

Speaker 2 (11:50):
Wow.

Speaker 5 (11:50):
So this is you know, it's wild too, because there's
other plants growing with them.

Speaker 4 (11:56):
Now, I don't know if there are some patico with
other species. There's no huge I mean, you know.

Speaker 5 (12:02):
Obviously weeds, but huge like long, almost like a snake
plant is like growing with it. And I wonder if
that's being blown in from somewhere or maybe the bees
or like pollinating other plants. I don't know, but uh,
it's kind of interesting to see what's gonna grow from it.

Speaker 2 (12:23):
Maybe the squirrels and the birds are propagating other seeds there.

Speaker 4 (12:26):
That damn squirrels.

Speaker 5 (12:29):
I got to go out there with olive oil, and
I have to grease the like shepherd's crook that has
the like sunflower seeds because those squirrels will hang upside
down and we'll just go to town. Or they climb
up the stalks of the sunflowers and also hang upside down,
which is really cute.

Speaker 2 (12:46):
They're just feed the squirrels, Yes.

Speaker 5 (12:49):
I did, but now I want them to go away.
You know, we're like having a tree that gives them
the food they need. I don't understand why they need
to ransack my garden.

Speaker 3 (12:59):
Now, eat the delicious sunflower seeds that you yourself eat.

Speaker 5 (13:03):
And I can't eat because I'm trying to cure them.
Now the sun has to dry them out, and they're
just out there. Oh man, you know what, one squirrel
I felt really bad for him. But one squirrel was
eating this like I guess fermented sunflower and he got
drunk and his buddies were like around him. It was
really cute because his buddies were waiting for him to

(13:23):
sober up, and he was just like kind of like, oh,
what's going on?

Speaker 4 (13:26):
And they did not leave his side.

Speaker 5 (13:29):
Oh, and like I even I went out there and
like threw some seeds to him and they're like thanks pal. Yeah,
he's just you know, he tied one on. I'm like, yeah,
I get it. And they're like how are you? And
they're like drinking water next to me, and like they
were like totally cool with me.

Speaker 4 (13:43):
And then the guy like did a where am I?
And then they ran up the tree.

Speaker 7 (13:48):
Ah.

Speaker 2 (13:49):
Just like college. You're listening to the Home Loans radio show.
We're going to take our first break. We'll be right
back after these messages. Hey, hey, hey, it's that mortgage
guide don. April is upon us and hurricane season is
right around the corner. But I feel great because I
already replaced my windows with Renewal by Anderson. These are

(14:10):
by far the best windows I've ever had. They're made
right here in the USA with Anderson's exclusive five Bricks
composite material, which is twice as strong and lasts twice
as long as vinyl. Renewal by Anderson windows and doors
are designed to keep homes comfortable year round, reducing energy
bills and insulating you from the outdoor weather and noise.
If you're in the market for new windows or doors
and you appreciate style, durability, and five star installation and service,

(14:35):
do what I did and call Renewal by Anderson today.
Tell them that mortgage guide Don said to call, and
you'll be able to take advantage of a huge April
discount of three hundred and fifty dollars off every window
and eight twenty five off of each patio door. Restrictions
do apply. I get all the details at the website
today Best Windows Florida dot Com. License number CGC one
five two seven six one three.

Speaker 5 (14:55):
Hey, this is Devil Roberts from the Jim Culbert Show.
Lend you're listening to home line radio on Real Radio.

Speaker 4 (15:02):
Now back to the show with that mortgage guy Don.

Speaker 3 (15:05):
Hey, hey, hey, you are listening to Homelands Radio with
that mortgage guy Don and Fritz. They were talking about mortgages.
We're gonna anyway, eventually we're gonna come round of that.
In case you're waiting at the edge of your seat
for quality mortgage information, hang on, it's coming.

Speaker 2 (15:21):
I'm dying potatoes coming.

Speaker 3 (15:23):
It's coming. We're getting our marshmallow launches ready. But we're
glad you're here. Thanks for coming round.

Speaker 4 (15:30):
Hey, thanks for having me.

Speaker 2 (15:31):
You know, oh, thanks for having me.

Speaker 3 (15:33):
I'm John really couldn't do it with Dodga.

Speaker 2 (15:35):
Welcome back to the Home Loans Radio Show with that
mortgage guy Don. That's me. That's right. You've been texting
your questions into seven seven zero three one. We'll answer
a couple of those this segment. What else we got cooking?
Let's let's jump into a couple of things. You gotta
hang over there and.

Speaker 3 (15:49):
Joe Sure, good morning. I have two investment properties that
are fully paid off. Can I do a ten thirty
one on one of the properties that I sold and
use the capital gangs for the other property to upgrade
and remodel. I have questions. What's a ten.

Speaker 2 (16:03):
Thirty one ten thirty one exchange is if you if
you own investment properties and you sell one, the cash
you make on it is tax you know, is taxable.
It's a capital it's a capital gain, it's profit, so
you're supposed to pay a tax on it. A ten
thirty one exchange. Let's you take that profit and within
there's rules about it a certain amount of time, you
know a certain amount of number of days, and if

(16:24):
you buy a new investment property with the money from
the one you just sold, then you can defer the
taxes to a later date. In other words, you're taking
that profit, putting it into another profit. You're not keeping
it as cash. Uh So the question was can they
take the profit? Read me the last one again. I
want to make sure I hear it.

Speaker 3 (16:43):
They want to take Can I do a ten thirty
one on one of the properties that I sold and
use the capital gains for the other property to upgrade
and remodel.

Speaker 2 (16:54):
Capital gains. I'm not sure I'm understanding the question, but yeah,
the one, if you sold one, you can take that
profit and put it into a new one through a
ten thirty one.

Speaker 3 (17:01):
Exchange and put it in the one they already have
to make it better.

Speaker 2 (17:04):
And I don't think so. I think that would be
capital gains at that point. Then you're taking you're taking profit,
and you're using it for something else. The only thing
that ten thirty one allows you to do, to my knowledge,
is to buy a new future investment property, and you
can keep doing that, Like you can buy an investment
property when you're nineteen and sell it after two years,
put the profits into a bigger Let's say you started
out with a little one hundred thousand dollars property, you know,

(17:25):
and you sell that and go to a two hundred
thousand and then to a four hundred thousand. You could
do that your whole life till you're fifty years old
and buy an investment properties and never pay any of
the capital gains taxes on it if you're constantly investing
it forward, which would mean you'd have to be getting
bigger and bigger properties, or more and more properties. It's
a great way to invest, and it's a nice way
to not have to pay those capital gains. And the

(17:47):
real reason that I think it's done is that it
encourages people to invest in real estate, which is a
you know, a really good long term investment in my opinion.
All right, great question. Thanks for texting that into seven
seven zero three one. That's how you do it right
here on the Home Loans radio show. Oh, I got,
I gotta, I gotta tell people about the thing. We
were nominated by readers of The Orlando Sentinel as the

(18:10):
best local No, well no, it's about the mortgage.

Speaker 3 (18:14):
Company, mortgage shows, not the showy morning show.

Speaker 2 (18:18):
Stop Mjack. I'm gonna tell.

Speaker 3 (18:21):
You radio personality.

Speaker 2 (18:23):
Man, all those things sound great, but no, not any
of those. We're nominated as the best local mortgage company. Okay,
you know I've been saying eat local, buy local, and
mortgage local. I think you know why not. But yeah,
we've been nominated. You can You can actually help us
get there if you go to my Instagram at that
mortgage guy Don right there. My bio is the link.

(18:44):
You just click it. It's not one of those links
that takes you to the page and you gotta sift
through one thousand pages to find what you're looking for.
We created a one click link to vote. So there
you go. You go to the bio at that mortgage
guy Don. There's the thing in the bio says vote.
You click that and then when you get to the
next it's the boat. It'll be my smiling boat. I'm
jaming that it'll be It'll be my smiling face right there.

(19:06):
You just click the X next to happy Home mortgage
for that mortgage guy down and there you go. You've
voted for us and we would appreciate.

Speaker 3 (19:14):
It so so nice.

Speaker 2 (19:15):
And while you're there, go ahead and follow uh follow
me on Instagram if you haven't already had that mortgage guy.
We're getting We're almost at a respectable place. Isn't that
the goal in life? I'm almost at a respectable place. No,
we're closing in on two thousand and followers. You know,
not bad considering we started out with twelve about you know, October.

Speaker 3 (19:36):
We knew him thanks to the power of her when
it was just him and his cat.

Speaker 2 (19:41):
That's right. I did want to talk more about the
bowling timement. I had a really I had a great time.
I met so many people there, listeners, people that we've
done mortgages for. Graveler was was on Sean Watson's lane
and next to us. It was nice to meet him.
I always texting funny things to the show, and uh
who was on the left of us? We had the

(20:01):
Jack Bradshaw lane to the list of us. Oh yeah,
they were all dressed in captain's nats. And then next
to that we had Ryan Holmes. We had the whole
We had to hold the whole tournament ten minutes, well
until Ryan Holmes showed up. So that was fun. He
loves that I'm telling this. He's of course not. That's funny,

(20:23):
of course not. It was a fun, good time, raised
over twenty five k for the charity and just got
to hang out and have a blast. I can't wait
for next year. When are we doing it? When are
we doing it?

Speaker 5 (20:32):
Mo?

Speaker 2 (20:32):
I'm ready?

Speaker 3 (20:33):
All right?

Speaker 2 (20:34):
I heard the next thing. The next thing that MO
was gonna do is a a skating charity thing like
you know, like you used to skate when you were
in high school, like the skating rink. So that should
be interesting and hopefully they have some paramedics standing by
for me.

Speaker 3 (20:51):
Serious people are gonna If people are pounding drinks like
they were at the bowling Alley, well skating is going
to be I'm.

Speaker 2 (20:57):
Sure they were all responsibly drinking up to their own standards. Well,
of course, of course, but yeah, that sounds fun, and
I definitely think you should wear a helmet. You're you're
prone to gravity related problems.

Speaker 3 (21:11):
Gravity is my enemy. Yeah, I scoring gravity often arm
raised to the sky.

Speaker 2 (21:16):
Gray because you're dropping things, because you're falling.

Speaker 3 (21:19):
Down, because gravity just conspires against me. Happens all the time.
I think maybe other people, but especially me.

Speaker 2 (21:27):
It's a punishment for things you did in a former life.
That could be all right, well here we are, you
can text in you.

Speaker 4 (21:35):
That was some black metal lyrics.

Speaker 3 (21:39):
Now I feel so sad about my past life.

Speaker 4 (21:41):
Now just wait for the breakdown.

Speaker 3 (21:49):
And carry listening. They said they had a great time
at Bola Rama at the Easter. Peeps can't fly into
the garbage. Not a fan of the peep.

Speaker 5 (21:56):
Yeah, I know people don't like peeps, and I know
people who don't like circus peanuts. But I also know
one Canadian who works here who loves circus peanuts.

Speaker 2 (22:06):
Okay, and peeps circus peanuts sore. That's that's not actually food,
is it.

Speaker 3 (22:11):
It's like a marshmallowy thing? Yeah, Orange, I think does
it do fun things in the microwave like peeps do?

Speaker 4 (22:16):
I don't know.

Speaker 2 (22:18):
I think everything does something in the microwave.

Speaker 3 (22:20):
I know, peeps like it really big in the microwave,
but I think then they go, I don't know.

Speaker 2 (22:25):
Man, if you got money to burn peeps in your microwave,
you get a Ford Eggs. For goodness sake.

Speaker 3 (22:31):
I was just a child trying to have fun.

Speaker 2 (22:35):
Text your questions into oh boy, Text your questions into
seven seven zero three one and uh. The question go
ahead him Jay.

Speaker 3 (22:44):
The question the question that everyone who's listening is thinking about.
Basically everyone is thinking about, which is do you think
mortgage interest rates are going to go down? I have
a seven point thirty nine and I need to refinance.

Speaker 2 (22:56):
Seven point thirty nine. You could probably get.

Speaker 3 (22:59):
You're probably ready.

Speaker 2 (23:00):
Yeah, if your scores are are not, you know, in
the in too low of a range, you could probably
refinance now and get down about a point. We're talking
in rates in the low sixes for well qualified people
and thirty year loans of fifteen you can get down
into the fives. Fha va down into the fives. So
we've definitely seen some improvements over the last few weeks.
It's it's been a wild ride. I will say that

(23:22):
you know the tariff that you know nobody knowing what's
happening with tariffs or what's going to be tariff or
any of that really kind of threw the markets into
a tailspan where they.

Speaker 3 (23:30):
Would say that defends the bond market, which offends.

Speaker 2 (23:34):
And the mortgage backed securities. But when so when the
tariffs went out, you know that they were going all
things and computers and electronics and all that. The rates
got bad for a few days. The stock market we
got bad, the bond market got bad. And then when
they put a pause on it for ninety days, you know,
with ten percent tariffs, and then it changed and then
it changed again. But right now, we'll see how things

(23:56):
go come Monday. We always get this kind of a
lull right before holiday weekends. So what happened Thursday and Friday, Well,
the markets are closed, you know, the bond markets closed
on Friday. So we'll see what happens on Monday. But
in general they are moving down. We've been doing a
lot more refinances. I would say last year our business
was around eighty five percent purchase and fifteen percent refinance

(24:17):
as a mix for the mortgage company. Right now we're
going about fifty five percent refinances and forty five percent purchases,
and it's not because the purchases have gone down. We
were actually had having record months of purchases. So people
are refinancing, especially people that are in the sevens. If
you got a seven in front of your rate, you
can probably get it down close to a point lower

(24:38):
right now, So it's definitely time to look at it.
Why would you do that, Well, let's say you got
a three hundred thousand dollars loan and you can get
your loan down a point from say seven and a
half to six and a half. That's going to save
you about three hundred bucks a month in pre interest,
so nobody wants to pay that.

Speaker 3 (24:52):
And then of the life of the loan.

Speaker 2 (24:54):
Yeah, I mean, if you're paying you know, one thousand
dollars a month in interest, that can and you can
lower that down to seven hundred month, that saves you.
You know, on a thirty year loan, that's three hundred
dollars times three hundred and sixty that's one hundred and
four thousand dollars roughly. I mean, I'm calculating that in
my head.

Speaker 3 (25:09):
Yeah, it's amazing, but yeah, that's.

Speaker 2 (25:11):
It's it's definitely a good time. The question is do
I see them going down further? All the predictions right
now are that they will continue to go down slightly
for the rest of twenty twenty five, and we'll see.
But the tariffs are affecting things that I saw an
article yesterday that new home builders are saying that sixty

(25:32):
percent of the pieces that go into a new home
are now subject to tariffs. Sixty percent of a house
is going to be tariffed, So we'll see how all
that works out. You're listening to the Home Loans radio
show with that mortgage guide down. We'll be right back
after these messages.

Speaker 3 (25:47):
Hey, this is Ryan from the Monsters and now back
to that mortgage guy Done on real radio.

Speaker 5 (25:52):
You out there listening, You might have a question that
we can answer on air right now. Text it to
seven seven zero zero three to one. If it has
anything to do with buying a home, selling a home, refinancing,
how do you start the application process? That mortgage guy
Don can hook you up seven seven zero three one.
You can also follow him on Instagram at that mortgage

(26:15):
Guy Done.

Speaker 2 (26:17):
That's right. Speaking of which, I just did a photo
drop of a bunch of pictures from the bowling tournament.
You can check those out to just call most celebrity
bowling tournament from last week.

Speaker 3 (26:26):
There you go.

Speaker 2 (26:28):
We our team. Our team had ups and downs of
bowling well and then bowling not well.

Speaker 3 (26:35):
I had a lot of trouble with the balls. I
could not find a ball that my fingers fit into
a million pounds which I could hardly hold onto. Then
my fingers like loosen there and I was like gripping
it with all my might, and then I would just
bounce it down the lane.

Speaker 2 (26:53):
Yeah, you know when you have every lane full of
six people, you know, and most of them, a lot
of them apparently didn't have their own bowling balls. They
were using the house bowling ball. Every single rack in
the bowling alley was empty except for like.

Speaker 3 (27:07):
The really weird balls, like the giant balls or the tiny,
tiny like baby balls.

Speaker 2 (27:16):
And there are times I go up there. I have
kind of you, I'm a large handed person, so I
would go up there and the balls were well, you
couldn't even put your hand, your fingers in any of
the holes, so you just had to hold it in
your palm like a kickball, like a shot foot, like
a volleyball, Roll up there and roll it and hope
for the best.

Speaker 3 (27:35):
Yeah, I've determined that next year, I got to find
a ball. I don't know what I got to do.
Go up. The day before Squirrel my ball away.

Speaker 2 (27:43):
I was walking down the lanes looking for a ball
that would that would work for me, it would fit.
And I found one in the lane next to us,
and I grabbed it and the guy said, hey, man,
that's my ball. I brought it from home. That's a
really nice volleyball.

Speaker 4 (27:55):
Work.

Speaker 3 (27:55):
Is guy down trying to steal my?

Speaker 2 (27:57):
I did, and I'm sorry. I didn't mean. I had
a feeling it might belong to somebody, but there you go.

Speaker 3 (28:04):
It said like Rob on it. No, I didn't Rob's
balls picture.

Speaker 2 (28:10):
If it did, I didn't notice it. But anyway, all's well.
It went back to its owner.

Speaker 3 (28:14):
There you I just I think the ball is tricky.
If you can find a ball.

Speaker 2 (28:18):
That works, you know, you can just buy one, I've heard, but.

Speaker 3 (28:20):
It's a whole thing, right, You got to go get well.

Speaker 2 (28:24):
Uh yeah, you go, you get measured, you pick out
the ball. They drill the holes the way you want them,
the right angles depending on what kind of a you know,
whether you throw a hook or.

Speaker 4 (28:31):
A curve, or whatever they got it like that.

Speaker 2 (28:34):
It's it's not as much as a dozen eggs, but
it is.

Speaker 4 (28:38):
No, I think eggs are more expensive.

Speaker 3 (28:41):
Okay, can you can you just throw eggs down the bowling.

Speaker 2 (28:45):
Yeah, then you're then you're blacklisted from that bowling alley
like all the other ones. MJ.

Speaker 3 (28:50):
You have to really hurl him to get a pin down.

Speaker 2 (28:53):
Yeah, I think that would take a lot of eggs. Yeah. Yeah, Well,
there you go. That was a good time I posted
so speaking which I just posted a bunch of pictures
from that. At that mortgage guide Don. While you're there,
a couple couple of tasks you can do. Help us out.
Vote for us for best of Orlando in the in
the Orlando Sentinel local mortgage company. There right there in
the bio, there's a link. You click it you can

(29:14):
vote one click link to vote for us, and please do.
And also while you're there, follow us at that mortgage
guide Don on Instagram.

Speaker 3 (29:21):
All right, don't miss the vote. Record your vote. Here's
someone who said, first of all, thanks a lot. I
absolutely can't get your jingle out of my head. Yeah,
do I complain to complain to me? You can register
your complaints how can they register their complaints.

Speaker 2 (29:38):
Text them into seven seven zero three Tension Fritz the
Musical Genius And if you want a jingle created for
your business or just for your for you, just for Instagram,
it's like them day right now.

Speaker 4 (29:51):
I'm an award winning musician.

Speaker 2 (29:53):
That's right you. Yes, you won an award. What would
tell you about the award that you won? Last Saturday?

Speaker 5 (29:59):
The I which is the organization of independent filmmakers, They
do a competition each year. I think it's a short
like a nine minute short film competition, and out of
eight rom coms, I was chosen along with two other films,
as the best score, and I won.

Speaker 2 (30:19):
That's amazing score, That's amazing.

Speaker 5 (30:22):
I think it was like, let's see eighteen plus eight, yeah,
twenty four, twenty four films, and in the rom com category,
not all of them had scores, you know, some use
like stock music. Yeah, but yeah, it was three nominated
from each category. But I just had to win in
my category and I did.

Speaker 2 (30:39):
So. You scored, so you wrote, imagined, recorded the music
for the entire moviep and you won an award for it.

Speaker 6 (30:46):
Yep.

Speaker 5 (30:47):
And it was my first time doing it, and I'll
do it again. No, I don't know if I will,
but I would like to try with you. If anyone
out there has anything for me to score, send it
my way.

Speaker 2 (30:57):
Yeah. Or if you need a jingle, you can follow
Fritz at no underscore regrets underscore Coyote, no underscore regrets
underscore coyote, and you know, commission him to do your jingle.

Speaker 3 (31:09):
Finishing up this question, I absolutely can't get your jingle
out of my head. Who do I complain to? We've
established complained to for it directly?

Speaker 2 (31:16):
Ye, yep.

Speaker 3 (31:16):
I own my house in Ovido, Florida. I have a
first mortgage with New Res at four percent rate. Ont
know what that means.

Speaker 2 (31:23):
New Res is a servicer that you pay your your
payments to like mister Cooper or Nation Starred, so they
when they write their check for their mortgage, it goes
to New Res.

Speaker 3 (31:33):
Four percent rate. But we have over three hundred thousand
inequity in the house and have waited long enough to
put the pool in that we want and buy a
new windows and a roof. It all in all will
be one hundred thousand dollars. Can we do an equity
line for two hundred but only use one hundred?

Speaker 2 (31:45):
Right?

Speaker 3 (31:45):
Now and just keep the rest available for a rainy
day or a future project.

Speaker 2 (31:49):
Absolutely, yeah, I mean assuming you're qualified. But yeah, you
can do a home equity home equity line of credit,
which I wouldn't refinance the first at this point. Four
percent rate is good. You know you want to keep that.
And so the home equity line of credit lets you
tap into the equity in your home and take it
out to use for other things without messing with that
first mortgage at all. Your payment doesn't change on that

(32:09):
first mortgage. You're just adding a new payment on top
of that. That's a second mortgage, and you can absolutely
do that. You need a six sixty score. You can
go up to ninety five percent of the value of
your home. So what they do is they take the
first morgue. Let's say it's taking up sixty percent of
the value of your home. Then that leaves you another

(32:30):
thirty five percent of the value that you could actually
take out on a home equity line of credit. You
have to take out fifty thousand when you first do it,
which it sounds like they're going to spend one hundred
to get the pool. And I think they set a roof,
which is good that might help you get lower insurance
rates too, so that could be helpful. And then you
can just leave the rest there. You can take it out.
You know, there's a draw period when we set up

(32:52):
the home equity line of credit, it's going to have
a draw period, but you get to choose that draw period.
So it could be three years, it could be ten years.
That that money can sit there that you can draw
on it. And it's a it's a good way to
do it. I have a I have an equity line
myself that I don't use. I have it sitting there
in case I see an investment property or you know,
a rainy day fund or something like that that I
that I would want it for. You know, if you

(33:14):
need quick quick funds, then having I could buy a
bowling ball with, but probably wouldn't do it with my
equity line. I don't think they cost quite that I
mean not for my skill level. I don't think they
cost more than a couple hundred bucks.

Speaker 4 (33:27):
Oh yeah, you could pay it off quick though, right yeah.

Speaker 2 (33:29):
Right, right, that's true. But uh yeah, so that's a
that's a great way to do it. It's simple too.
You just go to the website at that mortgage guy.
Don you go to apply refinance and then you put
in your information and then Monday morning, Laura, the helock
whisper will call you and give you some numbers and
simple as that, no hard credit pull. You look at
the numbers. If you like it, then then it's go time.

(33:51):
If not, I have a nice daytime and all that.
So Laura was fun at the bowling tournament too. Those
a lot of people were telling me they're very excited
to meet Laura because she has talked two hundreds of
our clients and she she had I saw at least
a dozen picture people taking pictures with Laura. It's amazing
the helock whisperers. So that was fun.

Speaker 3 (34:10):
That's awesome. Here's what it says. In the mid eighties,
when I was in fifth and sixth grade and seventh grade,
all the kids used to go to the American roller
rink in Alzimont every weekend, and that back then, they
would have all night skates.

Speaker 2 (34:21):
Yeah, your parents.

Speaker 3 (34:22):
Would lock lock, They would lock you in at seven
o'clock and your parents would pick you up in the morning.

Speaker 2 (34:27):
I had been to one of those. Yeah, yeah, I
mean back in that time frame, the only thing keep
in mind, this was like before cell phones. You had
two things to do before time. Yeah, you could go
to the mall, okay, or you could go to the
to the skating rink. There were the things you could
do when it wasn't high school football season.

Speaker 3 (34:43):
Okay, yeah, there you go.

Speaker 2 (34:44):
But a lot of a lot of youth spent in
roller rinks myself.

Speaker 3 (34:48):
I mean, I mean you're sleeping on the floor a
roller rink.

Speaker 2 (34:52):
Yeah. Well, the parents didn't know everything that was going on.

Speaker 3 (34:55):
I can tell you that that probably probably wouldn't fly.
Now here's somebody who says, I'm in Tijuana eating barbecue iguana,
and I'm wondering, are we really in Tijuana?

Speaker 2 (35:04):
No, they're on a Mexican radio. Oh oh, I'm on
a Mexican radio.

Speaker 6 (35:10):
I like it.

Speaker 2 (35:11):
Yeah, who's that Wingo Boingo? Is that Mexico?

Speaker 3 (35:18):
Yeah?

Speaker 2 (35:18):
All right, Well tell me who it is.

Speaker 3 (35:20):
Sorry, I just know, I just I know it's not
bo Yeah.

Speaker 4 (35:23):
Well of voodoo.

Speaker 2 (35:24):
There you go. That's what I mean to say, you know.

Speaker 4 (35:27):
Uh, let's see.

Speaker 5 (35:29):
Sabrina recently went to San Diego, and she was shocked
when I told her how close Tijuana was, and when
she looked on a map and it looks like one
big city.

Speaker 4 (35:38):
She was like, I didn't know Tijuana was right right
next door to it.

Speaker 3 (35:40):
That's amazing. I didn't either.

Speaker 2 (35:42):
You're talking about Sabrina oubre yep.

Speaker 3 (35:44):
Did she pop into Tijuana?

Speaker 2 (35:45):
No?

Speaker 4 (35:45):
They had a pretty busy schedule.

Speaker 5 (35:47):
But she was like, it's tempting. It's like twelve minutes.
The border was like twelve minutes away from uh, like
where where they were at?

Speaker 2 (35:54):
Tijuana? Tijuanna's too busy for Sabrina to visit because they
had a busy schedule.

Speaker 5 (35:58):
Now I think she was too busy. She was too busy,
meaning Sabrina not the city of too lunch.

Speaker 2 (36:05):
Turns out you don't need to go into Mexico to
listen to Mexican radio, right, you know it travels across
the border apparently.

Speaker 3 (36:13):
Deputy Scott says, good morning crew, taking the day off
from the community, headed to breakfast with my amazing son.
It's some therapeutic yard work. Have a great day. What
is therapeutic yard work?

Speaker 2 (36:22):
What that is? Thanks for texting and deputies. Now that
means you've got a great attitude about life. If you're
calling yardwork therapy, you're definitely a glass full person.

Speaker 5 (36:31):
All right, yeah, I would imagine that would be like
dead heading plants so that, you know, looks prettier and
can foster growth.

Speaker 4 (36:41):
I wouldn't consider weeding to be.

Speaker 3 (36:46):
But when you're done, you know, it's such a gratifying
thing because it can be like such a mess, and
then when you're done, it's.

Speaker 4 (36:50):
Like, oh, yeah, for sure.

Speaker 3 (36:52):
Yeah, one of those jobs that you do it and
it's like.

Speaker 5 (36:55):
Yeah, the other the other day, I cut off one
bunch of coconuts from my coconut tree and then I
think I got like two pictures of coconut juice out
of it.

Speaker 2 (37:05):
That was a good time.

Speaker 3 (37:06):
What was so impressed with the food making ability of
your yard? What was you've got sunflower seeds happening coconuts?

Speaker 2 (37:14):
Was it a lovely bunch of coconuts?

Speaker 4 (37:15):
There is a lovely bunch of coconuts?

Speaker 2 (37:20):
What a lovely bunch of coconuts? You're listening, believe it
or not, to the Home Loans radio show that mortgage
guy don texting your questions comments to seven seven zero
three to one will be right back after this break.

Speaker 4 (37:31):
Hey, it's Sabrina from the news junkie.

Speaker 5 (37:33):
Do you have a question for that mortgage guy down
text him at seven seven zero three one No back
to home loans radio on real radio.

Speaker 3 (37:44):
Yeah, you're listening to homelands radio with that mortgage guy.
Don got Fritz and MJ. That's me. Yeah, I wanted
to know you guys. Ever heard of slow TV?

Speaker 2 (37:54):
Slow TV like s l O E, s l O
W s l O it's slow like the slow horses.

Speaker 3 (38:03):
Well no, not like that, those are spies. So here's
the Sweden's big hit in slow TV is the Great
Moose Migration. Oh boy, so far fourteen moose have crossed
the river and the annual migration. This is a show
that started on April fifteenth and goes until May fourth,
and you watch it in real time. It's just on

(38:25):
your TV all the time. And every now and then
a moose shows up.

Speaker 4 (38:28):
That reminds me of the fish doorbell.

Speaker 2 (38:31):
Oh yeah, yeah, we were talking about that like a
week ago. Yeah, let's tell people what that is. A
fish doorbell.

Speaker 5 (38:37):
It's a I think Switzerland or Netherlands. Yeah, there's a
dam in the Netherlands.

Speaker 2 (38:45):
That water.

Speaker 5 (38:46):
Yeah, they can't keep it open all the time because
predators will eat the fish. But if a fish needs
to get out and swim. I guess upriver. There's a
little button on this website and you hit it and
it momentarily opens a little fish door and they can
go and slip out.

Speaker 3 (39:01):
Yeah, anyone can do it. Yep, it's uh.

Speaker 5 (39:04):
The website is v I S D E U R
B E L like visitor Bell vs. Doorbell dot NL.

Speaker 2 (39:14):
There you go. Yeah, there's there's locks. There's locks in
the river and they need the fish to get upstream,
you know, to be able to propagate. So they have
underwater cameras there by the locks. And when people see
a bunch of fish waiting, they push the doorbell. They
open the locks, and then the fish can go up
and then the lock closes again. It's pretty crazy.

Speaker 4 (39:32):
Wow, and they're having the public do it, which is awesome.

Speaker 3 (39:35):
I love it.

Speaker 4 (39:36):
Right now, there's a thousand people on this website.

Speaker 2 (39:39):
Wow, that's crazy. I mean you just go there and
watch for fish. Well, I mean yeah, I mean Spearage.
I have a website that I watched pretty frequently that
has a you know, uh, an eagle pair taking care
of two baby eagles. Used to be three but they
had a blizzard. But yeah, it's it's kind of interesting

(39:59):
background TV that kind of stuff.

Speaker 3 (40:01):
Yeah, it's interesting. This the slow TV concept be started
at Norway in two thousand and nine and it was
about a train ride through snowy scenery.

Speaker 2 (40:08):
Oh wow.

Speaker 3 (40:09):
And it lasted for many, many hours. And then people
have been inspired looking for things in this migration of
Moose is a thing. There you go, I'm gonna check
it out.

Speaker 2 (40:19):
All right, You are listening to the Home Loans radio
show with that Mortgage Guy Don. What do we do here?
We talk about all the stuff. But also you can
text in your questions to seven seven zero three one
a thing having to do with home loans, real estate mortgages.
You can also go to my website, that Mortgage Guide
Don dot com or follow us on Instagram at that
Mortgage Guy Don. Right now, please go to the Instagram
and check it out at that Mortgage Guy Don. We've

(40:40):
got a bunch of pictures I posted up there from
the bowling tournament. If you're there, you might be in them.
And also hey now, and also we're so excited we've
been nominated as the best local mortgage company. You got
you got a mortgage local. Everybody says they eat local,
shop local. Mortgage local, mortgage local. You know, the big

(41:00):
ginormous mortgage companies. They don't care about you like I do.
You know, right, mortgage local. But you can go there
and vote for us. Right in my bio there's a
quick link one click link that says vote, and you
click that you vote for us, and thank you, please
and thank you.

Speaker 3 (41:15):
That sounds amazing.

Speaker 2 (41:16):
Texting your question seven seven zero three one, go ahead.
I'm genuinely getting a couple over there.

Speaker 3 (41:20):
I just sold a mobile home and two acres of
land and walked away with about two hundred K. I
want to buy a new place near my kids without
two acres and yard maintenance.

Speaker 2 (41:29):
There you go.

Speaker 3 (41:29):
See, they don't consider that therapeutic two acres.

Speaker 2 (41:33):
I think there's a limit of therapy. I think there's like, I.

Speaker 3 (41:36):
Think you're counted as I got two acres of stuff
to do.

Speaker 2 (41:40):
Two acres of yard maintenance is a lot of yard.

Speaker 3 (41:42):
Oh I am seventy nine yo.

Speaker 2 (41:44):
Well there that helps explain why you're tired of maintaining.

Speaker 3 (41:48):
Two acres seventy nine Yoh? You don't want two acres?

Speaker 2 (41:51):
Wow?

Speaker 3 (41:52):
And I can't do the more the mowing anymore. But
I'm being told I do not qualify to get a
home because my SSA is only fifteen hundred dollars a
month and I cannot find a place like in that
less than two hundred k price range. I think I
heard you mentioned a reverse mortgage for people over sixty two.
Could that help me at all?

Speaker 2 (42:08):
That is exactly what I was thinking as you were
reading the question. I think that this would be a
good candidate for something called a reverse for purchase.

Speaker 3 (42:16):
Okay.

Speaker 2 (42:17):
And so there's a reverse mortgage where you're refinancing your
home to make it so that you don't have to
pay a mortgage payment anymore. You have to be over
age sixty two. You still pay your taxes, insurance, you know,
in your HOA, but the actual mortgage payment gets it's
a reverse mortgage. So on a regular mortgage, you're paying
it down each month. On a reverse mortgage, it goes
up each month, but you can live there as long

(42:37):
as you want to live there, and it can never
go above the appraise value of the home when you
do the reverse. But there's another version of that that's
not a refinance, it's a reverse purchase. And so what
they could do is take their two hundred thousand and
put it towards a house. So right now they could
buy is a house where two hundred thousand or less,

(42:58):
and we know that that could be problematic. You're not
going to get you know, it's hard to find in
an area you might want or buy. You know, I
don't know where their family is, but it's hard to find.
So right now they're capped at a two hundred thousand
dollars purchase. But if you do a reverse purchase and
they're seventy nine, so they probably would qualify for close
to fifty percent of a reverse purchase. Meaning you could

(43:20):
take your two hundred thousand dollars buy a four hundred
thousand dollars house or a three hundred thousand dollars house,
you know, anywhere in between there and and still not
have to make a mortgage payment on that second part
because you're putting so much money into it. And then
the mortgage just a cruise and you get to live
there as long as as long as you want to
live there.

Speaker 3 (43:38):
And then if you pass there and you want to
give that house to your kids and just pay off
the mortgage.

Speaker 2 (43:42):
Yeah, I mean it's just like any other finance. Yeah,
you're that is a misconception. People think that it goes
to the bank after you know, a reverse mortgage doesn't.
You will it to whomever you want to will your
house to or your property to. And just like if
you still had a forward mortgage on your house, they
get a house to as a mortgage on it. If
they want to sell the house and pay off the mortgage,
they can, If they want to refinance it and live

(44:04):
in it, they can. And so none of that changes
with a reverse mortgage. But I think a reverse for
purchase mortgage would really give you a lot more buying
power and more more importantly, more choice of where you
live and peace of mind. And you know, maybe you
can find something you like for three hundred and keep
one hundred in the bank so that you got a
nest egg. And then also the majority of what you're
getting in SSA could be used for other things because

(44:26):
you wouldn't have a mortgage payment on that brand new
three hundred thousand dollars house. You just pay the taxes
and the insurance either annually or monthly. That's a great question.
Hit me up at the website at that mortgage guide
don dot com and there's a there's a form there
that says reverse reverse Mortgage Questions. It's just like a
one page information form, and then my reverse expert will

(44:46):
give you a call and we'll figure out the numbers.
If you like them, we go forward. There's no obligation,
there's no credit pull, there's no hassle. We're not gonna
follow you around trying to, you know, sell you on it.
We just give you the quote and if you like it,
that's great. You're listening to the Home Loans Radio Show
with that Mortgage Guide. Don, We're gonna be right back
at the top of the hour.

Speaker 3 (45:28):
There was no one.

Speaker 6 (45:32):
No one can see.

Speaker 3 (45:40):
There was no one there.

Speaker 2 (45:45):
Hey hey, hey, hey, hey, hey hey, welcome back. Welcome
back to the Home Loans Radio Show with that Mortgage God. Don,
there's someone here. There is someone here. Uh hello, who
was that? Who was that? For us?

Speaker 4 (45:57):
That was moon min from Mars.

Speaker 2 (46:00):
Some of your early work.

Speaker 4 (46:02):
Yeah, like a couple of years ago.

Speaker 2 (46:04):
Yeah, twenty twenty two, a couple of years ago.

Speaker 4 (46:07):
But ten bands. I think that was like two twenty six,
twenty fifteen.

Speaker 2 (46:12):
Yeah, twenty fifteen, that's ten years ago. Man. Yeah, Time
March is Time is Flying. One of your many bands
Moonman from Mars. You can find music from Fritz everywhere
on the Internet. You can search Florida Slang. You can
search the real Fritz, you can search moon Men from Mars.
You can search Corvus Incorporated. All original music from our

(46:35):
illustrious musical show, Resident Genius and thank you as always
for playing your original music on our show.

Speaker 4 (46:42):
Hey, thank you for having me.

Speaker 3 (46:44):
Jason is checking in from Daytona, Stock and Booze for
the weekend and Daytona it's a three for four twenty
Easter and the Jeep Beach.

Speaker 2 (46:51):
The Jeep Beach. Have you ever been over there during
Jep Beach?

Speaker 6 (46:53):
I have.

Speaker 3 (46:54):
There's lots of jeeps. I just thought, what are all
these jeep people doing here? It's Jeep Beach.

Speaker 2 (46:58):
I was over there a couple of years ago. I
was driving driving beach, driving down the you know the
parts of the beach where you can drive, you know,
in a Daytona area and along the shore. There were like,
I don't know, two hundred jeeps, all shapes and sizes,
people showing off their jeeps on the beach. Very very exciting.

Speaker 3 (47:17):
The Easter grass is a little different, so hopefully East
forget where the eggs are hidden for the little one.

Speaker 2 (47:23):
How did I not think of that joke? For four
twenty and Easter Grass? Well done, well done, Thank you
for texting that. And you can follow Fritz also at
I'm sorry not that that's me follow me at that
mortgage Guy down. But you can follow Fritz at no
Underscore Regrets, Underscore Coyote. And also, please, while you're on Instagram,
take a look at the website. I posted a bunch

(47:44):
of pictures from the last week's MOW Celebrity Bowling tournament
for charity. And also we we've been nominated for best
Local Mortgage Company right here in our city in the
Orlando Sentinel. And you can help us, you know, win.
Go there to my Instagram I'm at that mortgage Guy
done right there in the bio. There's a link and
one click link to vote for us. And thank you,

(48:05):
please and thank you texting your questions to seven seven
zero three to one. We got a couple over there,
m jaylists.

Speaker 3 (48:12):
I have a co signer on my loan, but they
do not live at the residence nor do they pay
for the mortgage.

Speaker 2 (48:17):
Okay, cool?

Speaker 3 (48:18):
Do I still need them to be able to apply
for helock or refinance. My income is much higher now
and I'd like to get cash out or helock, depending
on which is smarter. My current rate is six point
three seven five.

Speaker 2 (48:29):
Oh, there you go. So that's what they mean by that.
It's like a lot of times when you're buying a home.
I'm assuming this is what they mean. A lot of
time when you're buying a home and you don't necessarily
have enough income yourself, you can have someone on the loan,
a co signer or a non occupying co buyer on
the loan. A lot of times it's your parents. You know,
your your parents, your aunt, your uncle, your grandparents, any
family member can co sign on a loan. But later,

(48:52):
if you're making normany you know you might be able
to qualify for it by yourself. And then what they're
asking is they want to get cash out. Do they
need to involve the first person to refinance, to get
a helock or to refinance. If you're going to refinance,
you probably need to get the first person involved because
they would have to either sign if you needed their income,

(49:12):
or sign off of the loan at the end of
it if you didn't need their income, and you know
they were no longer going to be a co signer
on your loan for you. A lot of times parents
are cool with that, you know, they're like, all right,
I helped tell you co sign it's been on my
credit for ten years or five years or whatever. But
now you're on your own. The training wheels are off,
off you go, and you can do it that way
with a rate of would they say six point what three?

(49:33):
Six point three seven five? I think yeah, so that's
about where rates are right now. So we would definitely
have to do the math to see which is going
to be better. Helock rates are a little higher, so
it may make sense to do a full refinance and
then you if you can qualify on your own, we
can close the loan with just you on it. Or
if you want to have the co signer still on
there and we could do that too. Or you could

(49:53):
do a home equity line and leave the first mortgage
to loan and you don't need the first cost signer
to do a second mortgage home equity line. You can
do that just yourself. It doesn't it doesn't affect them.
That's an excellent question. Thanks for texting that into seven
seven zero three to one. You let's see. I think
it's guess what time it is, Jack, It's time for

(50:15):
the compare quote of the week. That's right time for
the compare quote of the week. What's that you asked, Well,
I'm gonna tell you. Compare quote is something I came
up with a couple of years ago to put it
on the website. To make it super easy, you just
go to the website that mortgage guy don dot com.

(50:36):
There's a button that has compare quote. If you've already
got another mortgage quote you want to find out if
it's any good, if it's trash or treasure, or you're
being raked over the colls. You just go there. You
tell me your name, your email, upload the quote. I
don't need to pull your credit. I can get most
of the information I need to be able to pull
a quote from the existing quote. And then I just
tell you, hey, this is a great quote, or hey,
you're paying five thousand dollars too much, or you could

(50:57):
get a lower interest rate by this much, and and
and then you decide from there what you what you
want to do about it. But the compare quote of
the week this week, These folks are first time home
buyers both in their in their early thirties, uh and
they were just about to have their first child, so
they decided it was time to buy their first home.
They had an fah loan and they were quoted a

(51:18):
rate of seven point five with an APR of eight
point four to five from a local retail ender. The fees,
the discount fees, and the points were being charged of
eight four hundred dollars. That's a lot and origination fees
on an fah loan. And what it means when you
see when you see a rate of seven point five,

(51:38):
but the APR is almost eight point five. But that
tells me right away without even digging into the quote,
is that there's a lot of fees. Because the higher
the fees, the higher the larger the distance between the
rate and the APR. So when you get a loan
that is well priced, usually maybe you'll see a quarter
point maybe the rate will be a quarter point lower
than the APR. But in this case, it was a

(52:01):
full point lower, and so we were able to look
at it. They were being charged a rate of seven
and a half and they had good credit and origination
fees of eighty four hundred dollars. I knew immediately we'd
be able to get them a better deal. We were
able to get them five point ninety nine. So they
went and this is what it was without yeah, without
charging them points on any points on that loan at all.

(52:22):
So we got their rate down from seven point five
to five point ninety nine. Our closing costs, instead of
being seventeen thousand, which is what they had with the
other lander, were a little over nine thousand, so we
saved them over eight thousand dollars their payment. The result
of them shopping and comparing their quote and getting that
peace of mind was that their payment went from three thousand,
three hundred dollars a month to two thousand, eight hundred

(52:44):
dollars a month. So four hundred dollars in savings per month,
that's every month for as long as they have this mortgage,
and eight thousand dollars in savings in just the closing
costs a loan, So that means they walked into this
house with eight thousand dollars more in their pockets than
they would have if they'd gone with the other loan
and not compared their quote so much. It makes sense,
I'm telling you, get that piece of mind. It takes

(53:06):
two minutes to upload your quote. You go to the
website that mortgage got done. You upload it, I'll look
it over. I'll tell you the real deal. If it's good,
i'll tell you. If it's not, i'll tell you, and
then you can decide what to do. They saw the
high quote and gave Donna shout. DoD said, these fees
are wild, bro, let's start them out. He got them
a new quote. Now they're at peace. Thank goodness they
did it, or else they'd be fleeced. Please, don't be

(53:28):
on wise and don't be a fool. Compare your quote
to be totally cool. Play the package for it's.

Speaker 3 (53:40):
Yeah, oh yeah.

Speaker 2 (53:41):
Don't be unwise, and don't be a fool. Compare your
quote to be totally cool.

Speaker 4 (53:46):
Right cool, You're totally cool.

Speaker 2 (53:49):
Totally cool. There you go. That's a compare quote of
the week. Let's see we got time for one more
question before the break.

Speaker 3 (53:56):
I think my home has been in forbearance for three
months and I'm getting ready to pay it the loan
and get it out. How long do I have to
wait to get a helock?

Speaker 2 (54:05):
Well, that is an excellent question. I'd believe normally after
four barons, like if you wanted to try and refinance
after a forebearance, you have to have on time payments
for a couple of years. I'd have to check the guidelines.
A good thing is we have about a dozen different
companies that we do home equity lines with, and there's
not going to be a blanket rule that tells me
how long after a forbearance can you do a helock.

(54:26):
We would have to check with each one of these
helock options because they're each separate banks that we have
access to do the helocks through. I would say that
probably the best way to find out is to go
to the website and do the refinance application and just
make a note in there, Hey, I texted you about
the forebearance and then I can get someone to research
that for us on Monday. Great question, thanks for texting

(54:46):
that into seven seven zero three to one.

Speaker 3 (54:50):
My wife and I live in Florida and own our
home here. We have a home in Pensacola that we
own that presently our son lives in. Our question is
are you able to get a mortgage there?

Speaker 2 (55:00):
M hm.

Speaker 3 (55:00):
We would like to sell the home to our son.
This home last appraised for two hundred thousand, five years ago,
we'd likely sell it to our son for about one
hundred and sixty What would our options be in your opinion?
Thank you for your time. Also, do we need a realtor?

Speaker 2 (55:13):
Those are all great questions. Yeah, so what they live
in Pensaclona. Yes, we do loans in the entire state
of Florida and in many other states, depending on the
type of loan, whether it's commercial or investment property, that
kind of thing. In Pensacola's we do loans from I
don't know, Appalachic Cola to Key West. I can't even
think of anywhere in Florida, Florida, all of Florida. Yes,

(55:34):
we are a licensed State of Florida brokerage. But what
you're looking at there is actually a really good deal
for you and for your son because you can do
something that's called a gift of equity purchase, and we
are right now doing many of these. It seems to
be a common theme right now. I'm not sure why
some of these things ebb and flow, but what it
means is if you're selling, if you are selling your

(55:56):
home to a family member for less than what it
is worth, you can use that the amount that you're
selling it less than it's worth. You can use that
equity for the down payment and closing costs, so you
can get into your son could buy the home and
really not have any money out of pocket with the
base on the figures you're you're telling me, assuming they qualify,
assuming the scores work, and that kind of thing. But

(56:17):
the main difference is that they don't have to come
up with a three percent down payment or a three
and a half percent down payment. They don't have to
come up with closing costs because you are great parents
selling to your son, you know, and less than what
it's worth. Then you can use that money to avoid
the down payment and the closing. You're not avoiding it,
but you're using air money. You're using equity, you're using

(56:38):
value your money. Yeah, air money. You're not really taking
money out of your banks. That way you can. It's
like bitcoin, Am I.

Speaker 3 (56:46):
Get it hard to get those coins?

Speaker 2 (56:49):
Well, it's air money, but there you go. You can.
You can do a gift of equity purchase. Hit me
up at the website that mortgage guide don dot com.
We can get you squared away. You do not need
a real tor. It's you do write a contract, right,
but it's between you and your son, so you can
write that contract. There are we have contracts that are
like blank template contracts that you could fill out and
use and we'll have the title company look it over.

(57:12):
We'll look it over, make sure that you're good. But
you I mean, you can have a realtor if.

Speaker 3 (57:15):
You want to write it up, have your lawyer called
my lawyer.

Speaker 2 (57:17):
Yeah, but you don't need to. You can do your
own contract. This would be considered a physico or for
sale by owner and then for that you don't you know,
you don't. It wouldn't really make sense for you to
pay a commission on that, but some people do pay
a smaller fee to have a real to write their contract.

Speaker 3 (57:33):
Yeah. Where do you get a contract? If you're just
doing a for sale by owner?

Speaker 2 (57:36):
You can get them anywhere online somewhere online office man
state contract. Yeah, you can. You can find them just
about anywhere you want to search legal real estate contract
for my state. You know, if you live in Florida,
then for Florida. But we have some templates that we
get through a couple of different legal sites that we
pay for that we send out to people, you know,
if they're working with us. We'll send them the contract

(57:56):
template and they can fill it out themselves for a
for sale by owner.

Speaker 1 (58:00):
Uh.

Speaker 3 (58:01):
Great, simple enough.

Speaker 2 (58:02):
Yeah, it's it's pretty it's pretty easy to do. Weird.
I'm telling you. If I had to guess, I would
say we have nine of these right now, going in
different stages. It's it's a very common way to do it.
It's an easy way to pass real estate from one
generation to the next without worrying about the probate and
that kind of stuff. You can do a gift of
equity purchase for your child, and I recommend it's a

(58:26):
good way to go. Great question. Thanks for texting that
into seven seven zero three to one.

Speaker 3 (58:31):
Here's someone that says, is it common to roll the
closing costs into the loan on refinancing for a better rate.

Speaker 2 (58:36):
Yeah, it's pretty much the norm. You can pay out
of it. You can pay the closing costs out of
your pocket. The benefit is, you know, let's say the
closing costs we are going to be six thousand dollars,
then you're if you pay them out of pocket, then
you don't have that six thousand dollars anymore. But your
loan is also smaller, you know, so you won't pay
as much interest over the life of the loan. But
I'd say ninety five percent of people just roll the

(58:57):
closing costs into the refinance. And we're figuring out when
we're deciding if a refinance makes sense, is how long
it's going to take to recoup those closing costs if
you finance them into the loan. So if you're recouping
those closing costs in twelve months or something like that,
then that's a great deal. Twenty four months is even
a really great deal. Once it gets out to like
thirty six or forty eight months, it's really what I

(59:19):
would consider probably not the best time for you to
refinance if it's going to take that long to recoup
the costs. You're listening to the Home Loans Radio Show.
We'll be right back for the final segment of today.
Do you have a.

Speaker 1 (59:29):
Question for that mortgage guide? Don text us at seven
seven zero three one. Now back to Home Loans Radio
on Real.

Speaker 5 (59:37):
Radio the Best and Saturday Morning Real State and Home shows.

Speaker 4 (59:46):
Yeah, Home Loans Radio Baby seven seven zero three to one.

Speaker 5 (59:50):
If you have a question about buying a home selling
home Heylock loans, refin you name it. You can also
follow Don at that mortgage guide Don on Instagram and
that mortgage guide don dot com.

Speaker 2 (01:00:02):
That's right, that's right, refinance all that stuff, reverse mortgages,
commercial loans, SBA loans, you name it, residents, residential loans,
we can do it. Follow me on Instagram at that
mortgage guide Don. Also, while you're there, take a peek
at all the pictures from the Just Call Most Celebrity
Bowling tournament and from last Saturday. And you can also

(01:00:23):
vote for us right there in my bio on Instagram
at that mortgage guide dot you can click to vote
for us for best local mortgage Company. Please, thank you,
and we're so grateful for your support. Welcome back to
the Home Loans Radio show with that Mortgage Guide Don.
You might have enough time to text in a quick
question now, m Jason. There's too many on the board.
You're never going to get in.

Speaker 3 (01:00:44):
We're busy. I think we should do our speed round
quick because I have a bunch, oh.

Speaker 2 (01:00:48):
A bunch of speed round. Yeah all right, well guess
what time it is? What time is it time for
the speed round? Oh?

Speaker 4 (01:00:57):
That was hey?

Speaker 2 (01:01:00):
Speed down is where m Jay's going to try and
get to a bunch of the questions we haven't gotten
to on the show. I'm gonna give you a quick answer.
If I don't get to yours, or if I don't
give you a full enough answer, hit me up after
the show on the website and I will answer it.

Speaker 3 (01:01:12):
Do you recommend condo town homes? The assessments every ten
years seem like a good way to stay away from
these kind of properties.

Speaker 2 (01:01:20):
I'm not sure what I mean. There are condos and
there are town homes. I'm not sure exactly what they
mean by a condo townhome because when you're talking about
the designation of condominium or townhome, there are What it
basically is is that the way that the neighborhood rules
are structured, so the covenants of condominium make it a condo,
and the covenants of a planned unit development make it

(01:01:42):
a town home. So and usually you have a fee
for your condo fee, and you have a fee for
your townhome fee. I don't know what a condo townhome is,
and I'm hoping you don't have two fees together. But
that's a I'll look into it, but I don't know
the answer right now to that type of property. I
hadn't heard of it before.

Speaker 3 (01:01:57):
So we have several questions, all in the same kind theme,
from all different people, and they're all about what you
talked about about getting homes within the family. So here's one.
If my mother's brother wants to give her a house,
how can she go about it to become the owner
of the house is paid off?

Speaker 2 (01:02:13):
Well, that one's easy. They just signed the title over
to you. If they're given it to you, okay, yeah,
you just you can get something called a quick claim deed.
You can get it to you know, our people at
all Florida Title that we use can get that deed
done for you, or you can even do it yourself.
It's a quick claim deed. You file it at the
county costs ten twenty bucks and that switches the ownership.

Speaker 3 (01:02:30):
Here's someone else who's asking. When a parent passes and
the mortgage isn't listed in the will, do mortgage companies
automatically recognize sons and daughters as mortgage as the mortgage holder.

Speaker 2 (01:02:38):
They do not know. You got to take action for that,
and there's a specific way to make it happen. But
you know that is not automatic. They're not going to
just assume that, you know, are in charge of the mortgage.
You haven't signed the note, You're not obligated to pay
that mortgage, so they can't just assume it. I will say,
I know of people that have just kept paying the
parents' mortgage and it never came up.

Speaker 3 (01:02:58):
If everyone's in agreement, I guess.

Speaker 2 (01:03:00):
But you know, if you're never late, they're probably not
going to bother you. But you know, that's not a
legal opinion. That's just something I've seen in the past.

Speaker 3 (01:03:06):
Do we need to put our son's name on our
house or sell it to him before something happens to
us it's paid off? This is to prevent him from
having to pay anything once we are gone.

Speaker 2 (01:03:13):
Yeah. Of course, you always want to talk to your attorneys,
you know that handle your estate and that kind of stuff.
But what I would recommend, and what would plan to
do if I was in that situation, was to put
them on the deed now, and then once you pass
it's their house. It doesn't have to be transferred to
them because they already own it. If you put them
on the deed before you're passing.

Speaker 3 (01:03:31):
And the taxes can be substantial.

Speaker 2 (01:03:34):
Yeah, I mean, I'm not a tax account or anything
like that. But I understand that that's a way that
you can save some money for sure.

Speaker 3 (01:03:40):
Well here's another one says, how can they sell How
can my friends sell a house to their son at
a reduced rate below market value. My friend did that
for a sister, and the irs came back and said
he owed taxes on the profit he would have made
if he'd sold it to someone else and he ended
up paying it. How do you get around that.

Speaker 2 (01:03:57):
Well, it's going to depend on how many years you've
been living there out of the last five. Again, this
is a tax question, so you can talk to your
You know, there are gifts are taxable to family members
over a certain amount, so you have to factor that in.
But you always want to talk to your tax professional
on that. Gifts to family members are self reported, you know,
so that I'm not don't You don't have to read

(01:04:17):
anything into that, but that you know it can be done.
But yeah, when we're talking about a gift of equity purchase,
you also want to talk to your tax person about
any any consequences to you, you know, as far as
capital gains. But if they've lived, if you've lived in
the house, it just depends who owns it. You know,
when you you avoid capital gains if the primary resident

(01:04:39):
who owns it has been living there too out of
the last five years. So if you're selling it to
someone at that point, then there shouldn't be any capital gains.

Speaker 3 (01:04:46):
How do I do the compare a quote thingy? I've
heard you talk about it, but I don't know how.

Speaker 2 (01:04:51):
Oh yeah, I got.

Speaker 4 (01:04:53):
Good news for you.

Speaker 2 (01:04:53):
You just yeah, it's easy. You go to the website
that mortgage guy don dot com. You don't even have
to search the whole thing if you star mortgage guy
Don Don the mortgage guy. I looked at the searches
that most people use to find us, and it's all
over the place, but it contains those words. But go
to the website. Right at the top of the page,
in the middle, there's a button that says compare quote.
You upload your quote. Simple as that. I'll I take

(01:05:14):
a look at that. I do all the compare quotes,
so anyone that comes in is going to be reviewed
by me.

Speaker 3 (01:05:18):
Hey, I just wanted to throw in this comment. Your
poems are corny, but I love you all and the show.

Speaker 2 (01:05:23):
Look I am I am happy. They say, no, I
consider that I've been Corny since I was three years old.
That's my brand. Thank you for recognizing I appreciate that
and checking in from Nerdville.

Speaker 3 (01:05:39):
I'm buying a house and I want to know how
to get the appraisal waved.

Speaker 2 (01:05:43):
Well, it's not like something you can do to get
the appraisal wave. When we run alone through the Fannie
May automated underwriting system or the Freddie Mac automated underwriting system.
If they say that they agree with the value, you know,
when we run it through their then they may give
you something called an appraisal waiver, and they just it

(01:06:03):
just says, all right, you don't need a waiver. You
said the house's word four hundred. We looked it up.
We think it's worth more than four hundred, so you
don't need to do an appraisal. Why would they have that, Well,
it might be that Fanny May already has a loan
on that same property, you know, with the current owners.
It might mean that they've have an appraisal that was
done on that property in the past. It might mean
that they just looked that they have several houses in
that neighborhood and they're comfortable with the value but you can't.

(01:06:26):
It's not something you can do to get it. You
just kind of have to go through the mortgage process
and we always try and see if we can get
you an appraisal waiver. It's something you actively have to
do as a loan officer. You can't just it doesn't
happen accidentally. You've got to try for it. You've got
to make sure the numbers are right. The loans of
value has to be right, and the credit scores have
to be right. And I would say, I would say
probably fifty percent of the time, if you're putting down

(01:06:47):
at least ten percent, we're seeing appraisal waivers. Right now.

Speaker 3 (01:06:49):
That's awesome. I'm ready for the riddle.

Speaker 2 (01:06:51):
Reddle time all right, time ready?

Speaker 3 (01:06:54):
What English word retains the same pronunciation even after you
take away four of its five letters? What English word
retains the same pronunciation? Mm hmmm, even when you take
four of its five letters away?

Speaker 2 (01:07:09):
Four of its five letters.

Speaker 3 (01:07:10):
I'll give you a clue when you're ready. Queue it is.

Speaker 2 (01:07:15):
Well done? Who well, way to go done. I wasn't
anywhere close, Fritz, I was away. I was about one
thousand meters away from that answer. Well done, Thank you, well, folks,
you did it right. You successfully wiled away another ninety
minutes of your Saturday morning listening to us praddle on
about all the things. Vote for us. Go to my

(01:07:36):
Instagram at that Mortgage Guy. Don vote for us for
best local mortgage company right there link in the bio.
Play us out of here with something cool.

Speaker 6 (01:07:43):
Fritz scheme.

Speaker 3 (01:08:01):
Seem by backgam.

Speaker 1 (01:08:09):
You've been listening to Home Loans Radio with that Mortgage Guide.
Don join us every Saturday at nine am on Real
Radio one oh four point one and check us out
online at home Loansradio dot com