Home Loans Radio 05.17.2025 With That Mortgage Guy don. We talk Reverse Mortgages and a live interview with Rauce Padgett abt Orlando Fringe

Home Loans Radio 05.17.2025 With That Mortgage Guy don. We talk Reverse Mortgages and have a live interview with Rauce Padgett about Orlando Fringe

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. Welcome
to the Home Loans Radio with that mortgage guy Don.
That's right, it's me. I'm here. We're doing what we
do every single Saturday morning, and I do it here
with my crew. Good morning, MJ. Good morning, Good morning,
mister Fritz.

Speaker 3 (00:30):
So I asked, that's it.

Speaker 2 (00:32):
Oh yeah, welcome to the Home Loans Radio show. That's right,
the most talked about, the most listened to, the most live,
the most fun and fantastic mortgage show. You're gonna hear
right here. Oh I spoiled it. I was gonna say,
what are we talking about here? MJ?

Speaker 4 (00:48):
Well, you know, it's National Fiddle.

Speaker 2 (00:50):
Day, National fiddle.

Speaker 4 (00:52):
Day, it is, but we ain't fiddling around.

Speaker 2 (00:55):
I didn't. Yeah, that's a that's a question. Are we
talking about the verb or the now No, it's the
noun or adjective, I guess. In the case of fiddle faddle.

Speaker 4 (01:06):
I liked that. There's so many ways that that word
can be used. But we're not fiddling.

Speaker 2 (01:09):
Around National Fiddle Day.

Speaker 4 (01:11):
We're here to give quality mortgage information to the folks.
Quit fiddling with they want it so bad.

Speaker 5 (01:16):
Yeah, yeah, can I can I ask maybe a silly question,
I hope you do of the three of us or
any of us hungover?

Speaker 4 (01:24):
No, well, I can only speak for me likewise, Okay.

Speaker 2 (01:33):
Why would we be c oh, I don't know. No, No,
we were all we were all hanging out at the
Fringe Festival. Last night. We went out and went to
see your show, your show it's showing, which you are
a cast member, and uh, it was fantastic.

Speaker 4 (01:52):
Thank joyed the show so much. I was very excited
when I saw you coming out walking carefully not to
click clack your your tap shoes, the tap shoes hoping
for ball and chain and you know, arms out.

Speaker 2 (02:03):
But that's all you need, right if you want an
excuse as to why you should go see Until next
time the play the name of the play is until
the name of the show, I should say, uh, is
until next time. There's there's your teaser right there, fritz
and tap shoes and running the fully sound and it
was it was a lot of fun.

Speaker 3 (02:23):
Really great acting too.

Speaker 4 (02:25):
Yeah, it was really good.

Speaker 5 (02:26):
It always amazes me how fast they can learn lines
and then deliver all of them in a forty five
minute play.

Speaker 2 (02:33):
It was well well done. I had no idea that
I don't.

Speaker 4 (02:37):
Want to I don't want toil anything.

Speaker 2 (02:39):
Well, I'm not going to say anything that's not any
The surprise was good.

Speaker 3 (02:42):
Well, I'm not going to die at the end. There
you go, And what a death it was. And that's
a lie. I just lied to you.

Speaker 2 (02:50):
What an exit. I'm not going to say anything that's
not in the process.

Speaker 3 (02:55):
Must die.

Speaker 2 (02:58):
Well, it seems to me that I'm just going to say,
you've been saving the planet for over one hundred years
in this in this, in this show, so well done,
unexpected guardians of our galaxy situation in the program, you
know mentioned aliens, cowboys, you name it, it's there. But uh, yeah,

(03:19):
the writing was really really good. Hats off to to
Jarman the.

Speaker 3 (03:23):
Writer, arm Day and Julie Hart was the director.

Speaker 2 (03:26):
Yeah, and the cast was good. The acting was good.
There's a really really concise and interesting and funny, funny
of course.

Speaker 4 (03:34):
A show about the radio.

Speaker 2 (03:37):
It's a show about close to all of our hearts
and you know, maybe it's just me. Maybe it's because
I'm partial to Fritz, but I feel like you kind
of stole the show even though you didn't have but
maybe one line.

Speaker 3 (03:52):
Yeah, and it was improv.

Speaker 4 (03:57):
And he wasn't supposed to have any.

Speaker 2 (04:01):
Because you're doing the fully. You're doing the fully, You're
doing all the sound effects for the for the radio
plays multiple uh, And I just couldn't wait to see
what you're gonna pull out of your your box over
there and and make sounds with next. It's kind of
like you're reminding me of you know, like Penn and
Teller Help, even though it has no lines, can sometimes
steal the show with the comedy aspect. And then I

(04:22):
feel like you did that. It was really good, so
I'm I'm giving it five thumbs up. I think people
should go see until next time at the Fringe for sure.

Speaker 4 (04:29):
And what was the little thing that made the made
the otherworldly sounds?

Speaker 3 (04:33):
The box? Yeah, I'm glad you asked. That is a
creak box.

Speaker 5 (04:38):
And if anyone wants to imagine it in their mind's eye,
think of like a big, like two by four picture
frame about two feet by two feet, and then in
the middle are three parallel wooden dowels. And attached from
the top is a the thinnest rope, in the middle

(04:58):
a little thicker one, and then at the very end
the thickest rope. And if you pull, if you turn
the dowels, because the rope is knotted around it, it
will creak and the entire box resonates. So when you
hear doors opening, that is a fully creek box. Instead
of having an actual door in a studio, they just
bring in that little creek box. And my friend Daniel

(05:20):
Bushy made it for me the materials alone, who's just
one hundred bucks, And I'm going to keep it forever
and use it for different sound effects for Fort Fritz
and well worth it.

Speaker 3 (05:29):
But it always gets questions, which is it's.

Speaker 2 (05:32):
My favorite, it's cool? My favorite sound effect bar none
is always the reliable slide whistle.

Speaker 3 (05:37):
Oh yeah, you gotta have that for me.

Speaker 4 (05:40):
It's the coconuts.

Speaker 3 (05:41):
Yeah, the coconuts.

Speaker 4 (05:42):
Yeah, I count on the coconuts. I wait for the coconuts.
There better be a horse and everything.

Speaker 2 (05:47):
Well, if you haven't figured it out by now, the
Orlando Fringe is back on in full force this weekend,
all week really and next weekend and all the way
through Memorial Day on the twenty sixth.

Speaker 4 (06:00):
But good Fringe, I mean, Fringe is always good. I
love Fringe. But there's so many great shows this year.
Yeah that I mean I personally know of. I mean
I have ten twelve shows of my own friends. Ah yeah,
which is very exciting.

Speaker 2 (06:14):
So if you want to see until next time at
the Fritz, at the Fritz, at the Fringe with Fritz
and the crew and the cast that did an amazing job.
You got a show today right after this show.

Speaker 5 (06:27):
Right, that's right, twelve to fifteen. All time is eleven fifteen.
We're all there at ten to twenty eight, so all right, nice,
we got to run up there. Hopefully parking isn't too
bad because that's always an issue. But I've been getting
Lucky Knock on a load for the past two shows.

Speaker 2 (06:43):
Yeah, it's a lot of fun down at the Fringe.
The lawn is the lawn is kind of redesigned a
little bit out there. I like the changes that they made.
But your your show is going to be today at
twelve fifteen, right just afternoon. You got tomorrow.

Speaker 3 (06:56):
That's in the Election of the Yellow Venue.

Speaker 2 (06:59):
Which is at the Sheiks, The Orlando Shakes.

Speaker 4 (07:01):
Venue, Yellow Venue, which is very cool and chilly and nice.

Speaker 2 (07:05):
Right, and then you've got a show tomorrow night, which
is Sunday. You got Tuesday night, you got Friday, you
got next Sunday. So people got five chances to see
your show until next time. I dug it. I really
enjoyed it.

Speaker 4 (07:17):
There's a lot of good shows to watch it. Friend,
there's really something for everybody.

Speaker 2 (07:21):
There.

Speaker 4 (07:21):
You go, whatever you're into, and you can look it
up and there's little descriptions of all of them on
the website. Yeah everyone, do you?

Speaker 2 (07:29):
Yeah, but you are listening to the Homeland Radio show
where we talk about mortgages. Yeah, I am a mortgage
expert and right here on the radio every Saturday morning,
answering your questions. You can text them into seven seven
zero three one. That's right. Live show going to be
one hundred and fifty five degrees today apparently outside what

(07:51):
I don't know. It's supposed to be hot. That's how
I heard record heat today. That should be fun. And
there you go. But what do we talk about here?
People text into seven seven zero three one. You can
text in questions anything having to do with real estate, mortgages,
buying a home, selling, a home commercial loans, SBA loans.
You know you're getting a divorce. You want to figure

(08:12):
out how to split up the property and give each
other some money on the way out the door. We
can we can answer those questions and more or just
text MJS are what you're doing out there? So I'd
just like to know seven seven zero three. One. Of course,
you can always go to the website that mortgage guide
don dot com. Yeah, what do you got cooking? MJ
anything fun?

Speaker 4 (08:33):
I mean mostly fringy fringe French French. Someone's asking what
is show.

Speaker 2 (08:38):
Called until next time?

Speaker 4 (08:40):
Until next time?

Speaker 2 (08:41):
It's a play on a on a I guess it
would have been an outro on on radio shows back
in the day. You know they live play radio shows.

Speaker 5 (08:49):
And don the little radio quiest for you. Do you
know what that that outro is called? What's the start
of a show?

Speaker 2 (08:55):
Called uh intro?

Speaker 5 (08:58):
It starts with hand handoff at the hand that's right,
until next time is a handoff And then when you
start a show and.

Speaker 3 (09:05):
You say hey, hey, hey, hey hey, that is a handshake.

Speaker 2 (09:08):
There you go learning all the radio things, right, but yeah,
until next time at the fringe Fritz is in there
and is you'll you'll be watching to see what Shenanigan's
he's going to do next. It's pretty funny.

Speaker 4 (09:23):
So for me, I'm just mostly excited about fringe. Lots
of lots of different kinds of shows, every kind of show.

Speaker 2 (09:28):
Yeah, yeah, well there you go.

Speaker 5 (09:30):
Yeah, got and text in seven seven zero three one
if you have a question about refinancing mortgage in your fringe,
you're trying to buy a fringe, sell your fringe seven
seven zero three ones.

Speaker 2 (09:42):
Yes, yes, And and then that's one of the two
shows that I sponsored that that Mortgage Guy Don team
sponsored was until Next Time Fritz's Show, and then also
Ross Paget's Ross Paget's Show ten Sketches. We also saw.

Speaker 3 (09:57):
Lass Radio's Golden Boy Radio's Back.

Speaker 2 (10:00):
More more about that later. Ross is gonna check in
with us a little later in the show, so stay
tuned for that.

Speaker 4 (10:08):
So how fun. Here's someone who says they thought Fritz
was done with iHeart. Well he's not done with.

Speaker 2 (10:13):
Us, No, no, not, he's done with portions. Oh well,
you you say I'm not gonna steak for you you know, Well.

Speaker 5 (10:22):
No, I'm not done with iHeart. I'm in the they
re hired me for a part time role. So I have,
you know, a new job that I'm starting on Monday,
which is cool, and I get benefits and all that,
but they still allow me to come in and hit buttons.

Speaker 4 (10:36):
Yeah, we're so grateful.

Speaker 5 (10:38):
Yeah, but you know, Fritz on the Street might be
off the air for a while while I transition to
the new job and then see if I have time
to do it.

Speaker 2 (10:45):
But so here on the weekends, it's happened before You'll
be back. You'll be back, that's what they say.

Speaker 4 (10:51):
Well, that's what we all hope.

Speaker 3 (10:53):
Then they let me go twice, so.

Speaker 4 (10:57):
I know I'm thinking about that last night. That's all right, we'll.

Speaker 2 (11:00):
Text your questions into seven seven zero three to one.
We got why don't we show people how it's done, mjay.
We'll start out with one, sure do it and get
that going. And we got plenty to talk about.

Speaker 4 (11:11):
How do I get a reverse mortgage quote? Where do
I apply? What qualifications do I need? I own my property,
no payments. I'm seventy two, my wife is seventy eight.
We would love to live a little easier. House value
eight hundred k. Well done, Well, yeah, can you give
me an idea of how this could help our fixed
income now and things are tight, Yeah, fixed income now,
and the house is worth eight eighteen hundred Yeah, and

(11:33):
I have no no, no payments, no mortgage.

Speaker 2 (11:36):
I would say a reverse mortgage could definitely change your
what was it call I want to make it life easier? Yeah, yeah,
I think you know, fixed income can be tough. But
you've got eight hundred thousand dollars of stored equity that
you've put there for your seventy two or you know,
maybe not your seventy two and seventy eight, but you've
been putting that equity in there, paying that home off,
or maybe you bought it cash. I don't know, but

(11:57):
you haven't mortgaged it. So that's a that's a huge asset,
and it must really you know, it can be frustrating
that you're sitting there, you've got eight hundred thousand dollars
that you can't touch, Yeah, because you can't take out
a loan on it because of a fixed income. And
that's what that's exactly what a reverse mortgage can do.
It can it can allow you even though you may
not have a job, you know, or be working or employed,

(12:18):
it allows you to take the equity out of that property,
and sometimes people will do it just to fix up
the house, you know, to do the roof, to have
walking around money. But the way a reverse works is
that you get you can take out a mortgage. The
older you are, the better the terms are. It's more
your credit score matters a little, but debt ratio doesn't matter.
They don't look at your income. They don't look at

(12:38):
the debt ratios of you know, what you've got outgoing
versus ingoing, because you're going to be generating income from
the house at that point. So depending on your age,
you may be able to take out forty to fifty
sixty percent of the equity of your house, and then
you can decide how you do that. You can get
that as a lump sum that's divided over two payments
in you know, you get one right away at the closing,

(13:00):
and then you can do another one a year later.
You can move it all into an equity line of
credit that you can just draw on as needed. But
the key there is it's actually an equity line that's
earning you interest from the equity of your home. Or
you can get a monthly dividend sent to you. You
can get a check if a thousand bucks or two
thousand bucks a month, that just comes to you as income.
And the idea is that instead of like a reverse

(13:22):
mortgage that you pay down I mean, I'm sorry, a
regular mortgage that you pay down over time, this mortgage
goes up over time, but it can only go up
to a certain amount and you can then later pay
it off. It can be converted by a different mortgage,
but you don't ever have to make payments on the mortgage.
On the principle and interest payment of that money that
you're that you're taking out of your house. You still
pay your taxes and your insurance and your HOA. But

(13:44):
outside of that, how to do it? They said, what
are the qualifications? You just have to be over the
age of.

Speaker 4 (13:49):
Sixty two seventy eight.

Speaker 2 (13:51):
Yeap. You have to have to have perfect credit, but
you've got to have some credit. But I've seen them
approve of scores in the five hundreds before, So that's
not the main thing. The main thing is about the
equity and the equity and your property.

Speaker 4 (14:05):
So so you get to spend your house.

Speaker 2 (14:07):
Simple way to do it. You just go to the website
that mortgage guide don dot com and you click the
button that says reverse mortgage. It's like a one page
probably take you one minute to fill out questionnaire, or
you can call in and we can fill it out
over the phone. Great question. Thanks for texting that into
seven seven zero three one. That's how you do it.
We're gonna take a quick break and we'll be right

(14:29):
back after this. Hey, hey, hey, it's that mortgage guide
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(14:49):
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(15:11):
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(15:33):
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Speaker 3 (15:45):
Hey, this is Devor Roberts from the Jim Culbert Show.
When you're listening to Home Loans Radio on Real Radio,
now back to the show with that mortgage guide.

Speaker 6 (15:54):
Don.

Speaker 4 (15:56):
You are listening to Home Loans Radio with that mortgage guide, Don,
I'm in and we've got Fritz in the tower making
it all ping and sing. We're here today so excited
to talk about mortgages, and you know you're here for it.
That's right, that's right, that's what you're here for.

Speaker 2 (16:12):
That's right.

Speaker 4 (16:13):
Thank you.

Speaker 2 (16:13):
It's the Home Loans Radio. Thank you for being here
right here.

Speaker 3 (16:16):
We appreciate you live.

Speaker 4 (16:18):
Text me your mortgage questions at seven seven zero three one. Also,
I love to know what you're doing. Tell me what
you're doing on this fine Saturday morning. We do have
some questions here.

Speaker 2 (16:27):
I know what I'm gonna do later have neglected. Yeah,
well well let's do that. I know what I'm doing.
After the showing, I'm gonna go see some friend shows
downtown at the the lock Haven Park.

Speaker 4 (16:40):
I saw some saw a couple shows last night. They
were very good. Saw Fritz's show.

Speaker 2 (16:45):
Yes, Fritz's show, highly recommend until next time.

Speaker 4 (16:51):
Until next Thanks is that?

Speaker 2 (16:53):
But more on stuff next segment. We got a special
guest supposed to be joining us, Ross Padet going to
come in talk to us for a couple of minutes.
So so stay tuned for that. But go ahead, let's
what what do you? You can text in your questions
to seven seven zero three one. M J will get
them on the area, or just tell us what you're
doing out there, what your what's your planning, You're what's
going on on your It's fine Saturday morning.

Speaker 4 (17:15):
Graveler says, Hi, guys, saw all of us at Ross's show,
Ross and Joel's Friends show last night. Didn't get a
chance to say, Hi, I hope you guys enjoyed it.
I know I was laughing hysterically. Yeahs show on Sunday. Yeah,
I enjoyed Ross and Joel's show very much. Yes, it
was Sunday school robbery, robbery, some shopping pleasure, and the

(17:36):
widest man in his skiddies. I'm telling you. If that
doesn't bring you in, I don't know.

Speaker 2 (17:42):
Yeah, I don't know. Yeah, I'm saving I've got some comments.
I'm going to save them for for the.

Speaker 4 (17:49):
Lots of people talking about the shows.

Speaker 2 (17:51):
And and I heard Graveler was there. I didn't didn't get.

Speaker 4 (17:55):
To rights right, bre and carry were there, says can
I tell you? Can you tell us the name of
Fritz show? I don't want to wait until next time.

Speaker 2 (18:03):
See what you did there?

Speaker 4 (18:04):
Yeah, they saw the whole mortgage team last night. That's true.
We had a field trip yep, hl R field trip.
And we have here's a question. Don I have a
house that I would guesstimate is worth three oh five.
That's a pretty tight guestimate. I owe one hundred and fifty.

Speaker 2 (18:19):
Three five three hundred or three h five, four hundred.

Speaker 4 (18:22):
I need to know, just guessing I owe one hundred
and fifty, what is the best way to go about
obtaining about sixty to pay off credit cards and put
a new roof on. Thank you for any information.

Speaker 2 (18:32):
Well, thanks for texting into seven seven zero three one.
That's how you do it. The question they oh, one hundred, Yeah,
you have equity, that got one hundred and fifty thousand
dollars of equity sitting in their empty in five Yes.
And it's actually the story with a whole lot of
America right now that the I was reading recently that

(18:54):
the amount of equity that people have locked up in
their homes right now is the highest in the US
in the highest ever in history. And the numbers are
in the trillions of dollars that people have. And part
of that reason that it's locked up, so to speak,
is that rates have been kind of high for like
the last two years. I mean we had rates a
year go up to close to eight percent. Now they're
down into the you know, mid to lowt sixes. In

(19:16):
a lot of cases, you know, depending on how well
qualified you are, fifteen year loans you can still get
down into the fives. But in your scenario, it's going
to come down to one major point, which is what's
your current interest rate on your home right now? Because
if you have a rate that's, you know, in the
sevens or sixes, then you would probably want to refinance that.

(19:36):
Or if you have an fah loan with PMI on it,
maybe we can refinance to get rid of that PMI payment.
But you can do a cash out refinance in that case,
which means you're refinancing your entire first mortgage, paying off
that existing mortgage, and having one noon mortgage. So instead
of having a mortgage for one hundred and fifty, you'd
have a mortgage ver say, you know, two ten, and

(19:56):
that would get you the sixty thousand dollars that you're
looking for. Or if you have a good rate on
your first mortgage, like if you if you were lucky
and did it during COVID time, you know where you've
got the rates in the twos threes fours, then you're
not gonna want to mess with refinancing that. I would
consider doing a home equity line of credit or a
helock or a second mortgage, and we offer about a

(20:18):
dozen different types of those. So typically the way people
when we're trying to figure this puzzle out, people will
go to the website. They'll do the application for a
refinance on my website, that Mortgage guide don dot com,
and then our helock experts will put together a quote
for you and send it over usually within you know,
a couple hours after looking through your application and figuring
out your goals, they'll send that over to you. We

(20:39):
have a dozen different types of helocks, and so that's
that's the story. If your rate is low, you're probably
gonna want to do it with a second mortgage. If
your current rate is high or medium, then you may
want to look at refinancing or refinancing to get rid
of the PMI great question. Thanks for texting that into
seven seven and zero three one. Did I answered the
whole thing? I think? So all right, there you go.

(21:00):
You are listening to the Home Loans radio show. You
can check us out on the website at that Mortgage
guide don dot com. You can also, please and thank
you follow me on Instagram all kinds of exciting stuff there.
You can follow me on Instagram and you always have
incident access to the podcast just by going to the
bio and the link Tree and over two hundred and
seventy five podcasts there also. I haven't really mentioned it much,

(21:21):
but I've been doing a I've been doing a weekly
blog for quite some time. So if you're a blog person, yeah,
I have different topics about the mortgage world. So you
can also go there and see tens and tens of
blog posts if you're interested. I started at the beginning
of the year and been doing one every week, but
it's cathartic. Every Monday, I have to write my blog
post and post it on the website at that mortgage

(21:43):
guy Don dot com. Yes, I like it.

Speaker 4 (21:48):
I have to read about it.

Speaker 2 (21:50):
Xoxo listeners.

Speaker 4 (21:53):
Here's a question, Hey, y'all, does Don refinance? I'm just
doing an accent because it seems like appropriate. All right,
does Don refinance? I mean it seems like you do.

Speaker 2 (22:02):
I thought that was your exit. Oh, yes, we refinance.
We do purchases, we do refinances, we do home equity lines,
we do reverse mortgages, FHA, USDA VA, commercial loans, business loans.
There's more private equity go on right now.

Speaker 4 (22:18):
I bought a house for two twenty eight and it's
not worth a little over for it's now worth a
little over four hundred am I able to pull out
from the house and build a pool. Is this something
you can assist with.

Speaker 2 (22:27):
One hundred percent? Yeah, we're kind of in the same
scenario as the previous question, which was you know how
to take that money out? Is what we would look
at whether it would make sense, based on your current
mortgage rate to do a refinance with cash out, to
either spread your loan back out over thirty years or
maybe shorten it to fifteen or twenty years, or there's

(22:47):
a number of things you can do with a refinance,
getting cash out is one of them. It sounds like
you certainly have enough equity, but if you've got a
pretty good rate on the first mortgage, then the key
is going to probably be a look at a HELOCK
which stands for home equity lineup credit or a fixed
rate second mortgage. When it's a when it's a big
lump sum like something like a pool, I'll usually recommend
a fixed rate second rather than so. A home equity

(23:09):
line is more like what I would call a reusable
line of credit, like you can you can charge it up,
pay it down, so it's reusable and.

Speaker 4 (23:17):
A credit card on your hand.

Speaker 2 (23:18):
Yeah, and it's but it's still a mortgage. But yeah,
it's a credit line against your house that you can reuse,
charge up and down over a certain amount of time,
like a three year or a ten year period, uh,
depending on what you opt for. And then after at
the end of that draw period, that's what that's called,
then it converts to a fixed rate mortgage of usually
twenty years, and then you just pay it off and

(23:39):
you know, one month payments for twenty years and then
it's paid off in full. The when when you're doing
something like a pool or something you know, or something
that's a big thing where you don't need the reusable
line of credit, you're just buying a pool, you're paying
it off. Then we would probably go with a what
they call a heat loan, home equity loan, or a
fixed fixed rate second mortgage, and those can be ten, fifteen, twenty,

(24:02):
twenty five, thirty years, however long you want to spread
the payments out. But that leaves your first mortgage entirely
alone and just gives you a loan that specifically for
the pool. We're going to need a pool this weekend.
It's going to be supposed to be record hot today.

Speaker 4 (24:15):
Yes, and that person came back to say thanks for answering,
expect to call so sooner rather than late it.

Speaker 2 (24:20):
There you go. You go to the website that mortgage
guide don dot com. That's how you do it. We'll
figure out the numbers and send them to you. We
don't even do a hard credit poll to figure out
the numbers we do. I don't like doing that hard
inquiry on people when we're just figuring out numbers and
just getting them a quote. So even though it costs
me extra as a company because I pay for the
soft credit poll that we have to do, and then
later if they're doing the loan, I also have to

(24:41):
then pay for the hard credit poll, but I just
feel like it's a better service to people to do that.
In case they don't like the quote, or it's not
the right time or whatever, then that way we haven't
you know, you haven't had to have a hard inquiry
just to find out some answers.

Speaker 4 (24:56):
So we don't get that deluge of interest because you
got to up on your credit.

Speaker 2 (25:00):
That's the other thing. When you have your credit pulled
for a mortgage or anything similar, you're gonna get just
bomb blasted. You know, when you do the hard pool.
I always warned people you can go and opt out
ahead of time. If you opt out like seven weeks,
you can opt out of most of the telemarketing calls.
But I have people tell me they still get dozens
because there's I guess companies out there that aren't following
the rules. But yeah, when you get your credit done

(25:23):
with a hard pull, it triggers Equifax and Experience to
send out what they to sell, not send out. They
sell what they call trigger leads, which are leads that
tell other people who applied for a mortgage. And there's
legislation in place. I hope it goes through this year.
Three years in a row. It's gotten started and then
just never went anywhere, but legislation to make it so

(25:43):
that the credit bureaus can't just arbitrarily sell the fact
and information that you had your credit pulled for a mortgage,
and then you get bombed by all the credit the telemarketers.
But the good news is usually in about twenty four
hours they move on to someone else. All Right, you
are seen to the Home Loans radio show with that
mortgage guid don We're gonna take a quick break. We'll

(26:04):
be right back after these messages.

Speaker 6 (26:07):
Hey, this is Ryan from the Monsters and now back
to that mortgage guy Don on Real Radio.

Speaker 5 (26:13):
That's right, baby, you're listening to Home Loans Radio on
Real Radio.

Speaker 4 (26:17):
One oh four point one.

Speaker 5 (26:20):
We got Don MJ. I'm Fritz and if you would like,
please do actually follow Don on Instagram, that mortgage guy Don.

Speaker 2 (26:29):
That's right. Welcome back, welcome back, Welcome back to the
Home Loans Radio show with that mortgage guy Don. We
are live right here on this fine Saturday morning in
the middle of fringe. And speaking of which we got
we got a special guest checking in with us. Do
we have him on the line, he can answer that. Hello,
good morning, mister am I speaking to mister Ross Paget.

Speaker 6 (26:55):
You are And just so you know, that's my yearly
quota of talking to myself in third person, So no
more for the rest of this call. Happy to care,
Mortgage Guy, Dawn, Dude, Fritz, Happy.

Speaker 2 (27:07):
Fringea, happy fringe. Yes, we're we're talking about the fringe today.
And we went on we went on a field trip.
We went to see some shows last night, went to
see Fritz's show until next time. That was that was
a blast. We talked about that one a little earlier.
We're going. We also went to see well the two shows.
Two of the shows that I sponsored as that Mortgage

(27:28):
Guy don at the Friends. I like to sponsor some
some of the artists, and we sponsored Ross's show which
is called ten More Sketches, and we also sponsored Fritz's
show Until next time. I highly recommend both of them. Ross,
your show was hilarious.

Speaker 4 (27:44):
Oh my gosh, what a what a fun time.

Speaker 6 (27:48):
That's well shooting for You know, I am by all means.
I love George Carlin, I love Richard Pryor, but I
also know that that I'm not trying to teach anything
to anybody with my comedy eyes. I'm just there for laughs.
I'm not trying to challenge people. And last last night
that was That's why you do fringe, because that was

(28:11):
we could not have done that script, I think any
any much better than we did. And you were in
the audience Mortgage Guy down. It was so awesome scene.
As soon as Curtin call went up, I got to
walk over to you and give you a quick dap.
I was like, damn, I feel cool right now.

Speaker 2 (28:27):
Oh okay, that venue is great for your for your
show that the Peach. The Peach Venue, it's huge. It's
a three sided venue. You know, you got a big
space to roam around and do Russ and Joel stuff
in the middle, which was super fun.

Speaker 4 (28:40):
I mean, for anyone who doesn't know about the show,
it's it's sketches and they're hilarious and so fresh and
so funny.

Speaker 6 (28:48):
It's called ten More Sketches, and we're doing our part
that try to make sketch comedy still a thing, and
I think people forgot that one sketch comedy is going. Well. Man,
there's some really big laughs in there. I do have
a crazy story to tell you. Don Yeah, right before
the first let me just starting off this story about
it going. Have you guys ever been taste?

Speaker 2 (29:11):
No, I'll play the fifth.

Speaker 6 (29:18):
So I have never been taste until about fifty forty
five seconds before I walked out to do my friend
show last night.

Speaker 2 (29:31):
What You're in trouble with the Law?

Speaker 6 (29:35):
No, there was this freak incident. I think I'm still
hyped from. I don't know if it was The Good
Show last night or literally writing some lightning on accident.
I was backstage and I see a flashlight or so
I saw it up. I picked up this flashlight, Fritz.

(30:00):
I feel the soft rubbery on the like a button.
I'm like, oh yeah, I think Prince is with me.
Once we feel the softness of a rubbery button and
if it's in our hands, like we're gonna push it right.

Speaker 3 (30:11):
It wasn't a trigger, was it, because that's different.

Speaker 6 (30:15):
Yeah, it was was. And I tased myself right before
I went out on that stage last night. Gone, And
I've been waiting to tell somebody who was at that
show that that happened. And I gotta tell you. I
think I would do it again. That got some food
to perform.

Speaker 2 (30:35):
I think I think you should. I was saying to myself.
I'm like, man, this show is electric. Maybe you need
to do this before every show.

Speaker 6 (30:43):
It's it's legal cast. It's legal cappuccino on top of
Monster Energy drink on top of other uh you know,
gray Area simulants. It was something else, but it got me.
I've never been tased, and of course it happens as
I'm going over the lines in my head.

Speaker 2 (31:01):
Well well done. Were you like, did you fall to
the floor and have to lay there and flop about
for a minute or was it a.

Speaker 6 (31:06):
Quick I quickly threw the thing down a hallway.

Speaker 2 (31:13):
And a more important question, the most important question, did
you pee your pants? I hear a lot of people
pee their pants when they get tasted.

Speaker 6 (31:21):
I am proud to say because it was before, immediately
before the show, I had just gone to the bathroom
for like, okay, show nerves like trying to get the butt.
If I wasn't, if I wasn't proactive on taking care
of my nerves, I would have done that show with
the need of a new pair of pants.

Speaker 2 (31:41):
More on that later. I enjoyed the show. The sketches
were all fresh and just like everyone you know, every
time I thought I knew where it might go, I
was wrong, pleasantly surprised. And I feel like though you
might have been working, or you and Joel might have
been working through some of your personal trump like the
sketch I don't want to reveal too much, but about

(32:03):
how you found out about your second your dad's second family.

Speaker 6 (32:07):
You know, Jerry, we could talk about one of the
concepts absolutely, that was a sketch that we thought of
last year, but we could not figure out the back
half of the scene, so that I could make an
argument and say that that specific sketch when I am
on the roller coaster is my dad, and at the

(32:29):
very top of the roller coaster he confesses to something.
That sketch is probably seventeen months in the making and
it's seen a half minutes long.

Speaker 2 (32:41):
Okay, well, it's a lot of fun. People can still
see your show at the Fringe. But you don't have
one today, right, Your next one is Sunday?

Speaker 6 (32:50):
Right, yes, tomorrow, beieve it is seven thirty five.

Speaker 2 (32:57):
We've got one coming up on Sunday, Tuesday, Thursday, and
then next Saturday and Sunday. There's no reason not to
go see ten sketches. It's a big venue. Buy your tickets,
don't get don't get shut out of it.

Speaker 4 (33:11):
If you don't know how Fringe, just go to the
website and buy your tickets and your button. But do
it ahead of time because sometimes show sell out, sell out,
and this show certainly will.

Speaker 2 (33:22):
That's right. What were you saying, Ross?

Speaker 6 (33:25):
It was just I was gonna just double down on
what MJ was saying, is that Fringe is the most
inclusive events that you can possibly throw. If I just
my biggest fear for anybody who is on the edge
or on the fence of going down to the grounds
to the festival grounds, is that they they might feel

(33:48):
little intimidated. And it's the last thing you should feel
out of Fringe Festival in the perfect date night. There's
no reason to stay in your home on the last
two weeks of May, because it's basically a modern day
vaudeville and Orlando has one of the best vaudeville two
weeks in the world.

Speaker 4 (34:09):
It's true, and we are Orlando. Fringe is world famous
people artists come from. I mean, we have our awesome
homegrown artists like Ross and Fritz but and Tamisha and
you know. But then people come from all over the
world and bring shows to us. So it's amazing. You
can see shows from people from everywhere.

Speaker 2 (34:26):
I normally see at least ten shows every Fringe and
I'll be back down there today all day. I've got
a whole lineup. I got tickets already. That's what I'm
doing with my day, going to watch people do fun things.

Speaker 4 (34:37):
And there's something for everyone. Whatever your jam is, you
can find something at Fringe.

Speaker 2 (34:43):
If you're on the fence about going to see Ross's show,
Ross tell us one thing that would help get somebody
off the fence from going to see your show.

Speaker 6 (34:50):
I know it is through and through uncut comedy, where
there is not a single narrative that we are trying
to do anything. And to me, if you ask me
what is the best way to spend a night out,
it's trying to have other people make you laugh as
hard and as much as we possibly can. And so

(35:11):
far we are two four to two on our shows.
I'm doing that. We worked, all these artists work as
hard as they possibly can. This is the end result
of a million and a half thoughts. I know friend
has definitely gone through those million and a half thoughts
with his fringe show, and it's just it's just amazing.
It's so cool. Yeah, I do think we're worth a babysitter.

Speaker 2 (35:34):
I'll say it, Oh for sure. You know, if you
if you're still on the fence, I'm gonna say that
you also may or may not get to see ross
pretty much naked.

Speaker 6 (35:46):
That is also true. I do may or may not.
Maybe it looks like I'm still wearing an undershirt. I
am that white. But if you do get to see something,
you get to see some skin, but not in a
sexy light just all a comedic baby.

Speaker 2 (36:02):
Yeah you do, you do really stand out in a
black light.

Speaker 4 (36:05):
You bear your soul about it.

Speaker 6 (36:08):
I damn translucent, translucentes you.

Speaker 4 (36:12):
Why I enjoyed seeing your whole circulatory system.

Speaker 2 (36:15):
F it's anything you wanted to to to point out
or add, No.

Speaker 4 (36:21):
Not at all.

Speaker 5 (36:21):
I mean, yeah, you guys are talking about Ross's show.
Uh and uh you've you've been doing this for three
years now, Ross.

Speaker 6 (36:28):
Fo You know. It's a weird answer because I've also
traveled all over the world doing fringes because of my brother.
My brother's a full time one man show. I went
to Edinburgh back in twenty ten. I've but to actually
be doing fringe. Apply, write a show, do your best,

(36:50):
I would say that, yes, this would be my third
year of writing a script, getting those lines in and
then performing the living the hell out of it.

Speaker 4 (36:59):
There you go, and you did. It's amazing. I loved it.
It was a herculing effort. I say that right, Probably.

Speaker 2 (37:05):
Not close enough, but it was.

Speaker 4 (37:08):
It was so much energy and so bright and so us.
I just I enjoyed it very much, and each sketch
was completely different than the last, and a surprise. Each
one so good.

Speaker 6 (37:19):
Before I get go and say goodbye to you guys, though,
I want to let all of your listeners know, Uh,
just this, You're probably going to feel uncomfortable Don, but
it's worth same. Don is the man the fact when
he talks about supporting Central Florida and the arts, you're
I am currently you are hearing someone's voice who's on

(37:41):
the other end of that statement. Thank you so much,
Don for sponsoring our show. It's awesome to have you
be on board, to have you on the poster. Uh,
it just makes me so happy. Thank you so much,
Don for being cool. Thank you today for being even cooler.

Speaker 2 (37:56):
Thank you thanks for joining us. Ross and uh oh
and I'm let's plug the podcast too. I'm gonna be
joining you soon on your on an episode of your podcast.

Speaker 6 (38:07):
Yeah, let's go on this wild ride. Don, You're going
over to my house, my next the woods where everything
is still kind of the same as.

Speaker 4 (38:16):
My question is, will you be wearing your clothes?

Speaker 2 (38:19):
Tell people where they can find your show good Sauce.

Speaker 6 (38:23):
Uh, you can find it on all streaming platforms that
we also post our video YouTube podcasts every week. That's
Ross Patches on YouTube. Good Sauce on Real Radio Wednesday's
at eight Old podcast platforms from iHeart all the Way
to Spotify. Good Sauce with Ross and Joel.

Speaker 2 (38:42):
That's it. Thanks for joining us, Ross, So we're gonna
take care. We're gonna take a quick break. We'll be
right back after this.

Speaker 3 (38:49):
Hey, it's Sabrina from the news Junkie. Do you have
a question for that mortgage guide down?

Speaker 4 (38:53):
Text him at seven seven.

Speaker 3 (38:54):
Zero three one No Back to Home Loans Radio on
Reel Radio.

Speaker 4 (39:02):
Hey, hey, you are listening to Homelands Radio. How lucky
were we to have a guest today?

Speaker 2 (39:08):
Very exciting. Thanks thanks Ross for coming on and talking
about your friend show. Everybody, go the Fringe Downtown Orlando,
Ver see Ross's show. Ten more sketches with Joel and Ross,
and go see Fritz's show.

Speaker 4 (39:21):
Yeah he got and he yeah himself.

Speaker 2 (39:25):
Himself before the show. Yeah, you know, look forward to
that for the next show.

Speaker 3 (39:31):
Yeah, he better keep it.

Speaker 4 (39:32):
Up right the he's gonna have to. I was thinking,
if tasing really gives you a rush, you know what,
how does that? You know, how do you keep going
on that? Yeah, you know, like a drug, you start
with just a little.

Speaker 2 (39:43):
Then.

Speaker 4 (39:45):
Yourself how do you chase that electric.

Speaker 3 (39:48):
Dragon you have in your front pocket? You just look
it every now and then out you're.

Speaker 4 (39:53):
Sticking your tongue and outlets before you get in.

Speaker 2 (39:56):
No way are we recommending tasing yourself.

Speaker 4 (39:59):
No, I know it's not a good idea, but.

Speaker 2 (40:03):
A fun story. Thanks for joining us. It was a
lot of fun.

Speaker 4 (40:06):
Did spark a lot of creativity.

Speaker 2 (40:08):
There you going here? It is well done. You can
text in your questions to seven seven zero three one.
You are listening to the Home Loans radio show. I
am that mortgage guy, don I'm an expert on mortgages,
business loans, all that kind of stuff and some other
things I don't you know, talk about, but you know,
try me. Let's say, text into seven seven zero three one,
or just tell MJ what you're doing out there? What

(40:28):
you're doing? What fringe shows are you going to go see?
Maybe you'll see me there to see us there later
we're going to we're going on a field trip this
afternoon down to the fringe.

Speaker 5 (40:36):
Also, somebody texted in and said, was there a weird
vibe between Fritz and.

Speaker 4 (40:42):
I?

Speaker 5 (40:42):
Was just I was just letting him talk. I mean,
you know, I was letting him promote a show radio.
You know you got to you gotta be able to
talk and then listen. But yeah, I'm gonna kick his
ass later. If you're listening to me, Ross, you better beware.

Speaker 4 (40:54):
I mean, what you're saying that is a conversation requires
two people.

Speaker 3 (40:57):
Yes, that's a turn back to the show.

Speaker 4 (41:01):
Yeah, there it is. We call inside information case in
case you know you know. Yeah, if you don't, you
better ask somebody.

Speaker 2 (41:08):
Text text in your questions to seven seven zero three
to one, as these fine people have.

Speaker 4 (41:13):
Yes they have. I recently retired and I have a
nice chunk of deferred compensation. Nice in addition to my pension,
I owe roughly one hundred thousand on my mortgage and
I'm thinking about paying it off. Would it be more
fiscally responsible to pay it off or continue as it is?
The current rate is four point two five.

Speaker 2 (41:29):
Well, yeah, thanks for texting that into seven seven zero
three to one. It's a it's a good question. It's
it's tough for me to analyze that without knowing a
better picture of your financials. But the rate of what
was the rate four percent? Four point five four point five,
So a simple explanation of the math that I would
do on that is the money that you're going to
pay it off with. Is it earning more than four

(41:50):
and a half percent interest for you right now?

Speaker 4 (41:53):
Or could it?

Speaker 2 (41:54):
Or could it? Or does it? Is it going to
continue to compound for the next ten or twenty years
and grow? So you know, if that one hundred thousand,
if you leave it, if it's earning more than the
interest you're paying on your house and letting it sit
there for three years more or five years more or
ten years more, you know, increases or doubles that hundred grand,
then I'd probably just keep paying the mortgage payment. You

(42:15):
could pay it off faster. But it also a lot
of times when you get down to the end of
your mortgage, like if you're doing a thirty year mortgage,
the way that they're amortized. In the very beginning, like
years twenty, the first three years, you're paying like ninety
plus percent interest with every mortgage payment that you send in,
and only a small percentage goes towards principle. But when

(42:35):
you get towards the end of your mortgage, you know,
maybe you got five years left. Almost every payment that
you make as principle anyway, you're paying like eighty ninety
percent principle and just a tiny percent of interest at
that point. So I tend to lean towards just continuing
to make the mortgage payment if you've got that kind
of a low interest rate, just because you've already front
loaded and paid most of the interest on this loan,
just so you're just paying off the principle in majority

(42:58):
at this point. A great question, and thanks for texting
that into seven seven zero three to one.

Speaker 4 (43:04):
My Heaby and I bought our home twenty years ago.
When we got the loan, we were full time working musicians,
all right, So our interest has always been about six
point twenty five. We've never had never been laid on
a payment, we've never touched the equity, and now we
have many things to do. We own a small business
and are petrified of paperwork. What would be your best suggestion?

Speaker 2 (43:23):
Yeah, they owning a business is not a trust me.
I know, I own this my business, you know, happy
home mortgage. It is not for somebody who's averse to paperwork,
that's for sure.

Speaker 4 (43:36):
Well, they already own a small business. They're trying to
figure out, I guess how to get some money out.

Speaker 2 (43:41):
Yeah, it can be tough qualifying for a mortgage as
a self employed person, sometimes because a lot of the
things you have to write off for your company, you know,
get subtracted out of your income. Sometimes you own a company,
you'll pay yourself a small salary, you know, and build
the company and put everything else back into the company.
So it could be tough to call. But we we have,
of course, the conforming government Fanny May FREDDIEMAC FHA loans.

(44:05):
Those allow you to use your tax returns to prove
your income. But if it's more challenging, you can also
use bank statements or even a P and L from
your CPA. There's all kinds of ways to do loans
as a self employed person. The best way for the
best rates is going to be with using your tax returns.
But we can also do the same thing with the
home equity line. I don't know if they're looking at,

(44:26):
you know, a second mortgage in the form of a
home equity line of credit, what did they say the
first rate the mortgage on their first loan was, So
you're right, you're kind of at that cusp. I'd want
to do the math and figure it out. The simple
way to get that started. You know, you're talking like
you get it started. We can get you some answers. Monday,
you go to the website. You fill out the refinance application.

(44:47):
We'll look at the two paths you could do, depending
on how much you want to borrow, and see which
one gets you the cheapest money. Is what it comes
down to. How the one, the scenario that's going to
have you paying the least interest on the money each month,
is the one that Math's going to lead us to.
Math neverlives. When you get these scenarios, it just tells
you the answers.

Speaker 4 (45:05):
Yeah, Math, Math.

Speaker 2 (45:07):
It's the story, the story, the fabric of the universe.
Are you cursing the universe?

Speaker 3 (45:16):
Fritz, I'm cursing Sir Isaac Newton, Thank you very much.

Speaker 2 (45:20):
They didn't make it up. He just pointed it out.

Speaker 3 (45:22):
He invented gravity. Without him, we wouldn't have it.

Speaker 2 (45:25):
That's like me.

Speaker 4 (45:26):
I think we'd still have it. I think maybe we
just wouldn't know what it was.

Speaker 3 (45:29):
It's the way of my dream to fly.

Speaker 6 (45:31):
MJ.

Speaker 3 (45:31):
Let me have this.

Speaker 4 (45:33):
I think if it wasn't for that one guy, we'd
all be floating around.

Speaker 2 (45:38):
That's why trampolines exist. You are listening to the Home
Loans Radio with that Mortgage Guy Don. We're going to
take a quick break. We'll be right back at the
top of the hour.

Speaker 7 (46:00):
You yes, every day.

Speaker 4 (46:24):
Hey hey hey, hey, hey hey hey.

Speaker 2 (46:26):
Welcome back to the Home Loans Radio show with that
Mortgage guy Don. That's right, it's me. I'm here. We're
doing what we do every single Saturday here with my crew.
Good morning, m J, good morning, Good morning, mister Fritz. Salutations, salutations,
bringing it down, bringing it quieter.

Speaker 4 (46:45):
I always forget that we're doing the show when the
when the songs. When Fritz's song plays at the top
of the air, because it's always so good. When you interrupted,
I'm like, rude, let the song play.

Speaker 5 (46:55):
I always go, well, maybe he's gonna go the entire
quo on the bridge, all right, and do the bridge
to all right, we're into the solo now, you know.

Speaker 4 (47:04):
I like to just forget. I'm like listening to the
song like so happy.

Speaker 2 (47:09):
I like to hear it, you know, I like to
get I'd like to get the feel of it. I
don't want to be too short. I want to hear
part of the the chorus or you know, the parts
and uh cool, song always, uh, I should say it's
really nice?

Speaker 4 (47:22):
Yeah? Nice.

Speaker 2 (47:23):
What's the name of that one that is called nice?

Speaker 4 (47:26):
Oh?

Speaker 2 (47:26):
There you go. Nice by Florida Slang, which is Jeff
and Darcy's Jeff and Darcy band creation. You can find
Florida Slang anywhere you find music. You can also follow
Fritz on Instagram at no Underscore Regrets, Underscore Coyote and
check out all of his music. Supports local artists right, support,

(47:49):
local businesses, local, local, local, mortgage local. I'm a local
mortgage company. Mortgage local. That's the new that's the new catchphrase.
It's gonna it's gonna catch on the.

Speaker 4 (47:58):
Quilifile see it on billboards right.

Speaker 2 (48:03):
Yes, and thanks as always for playing your music, your
original tunes here on our little show of course. Welcome back.
You can also follow me on Instagram at that mortgage
Guy Don. You can also follow away go on the
website that mortgage guy don dot com see how we
made those the same for easy recall. There you go,
Welcome back. We were talking about all kinds of things

(48:23):
we had we had. We were talking earlier about the
fringe a little bit Orlando Fringe downtown shows happening all weekend,
all week all next weekend. Support local artists, all artists.
It's going to be a lot of fun. Fritz's show
was so fun last night. Called until next time, So
make sure you get that one on your list. You
can see it at what twelve fifteen today?

Speaker 3 (48:45):
That's right.

Speaker 2 (48:47):
You got to say we get out of the show
at ten thirty. You got a call time at eleven.

Speaker 5 (48:51):
It's eleven thirty. Call time now, it was eleven fifteen.
Just got the text, come on out and have a
liquid brunch with me.

Speaker 4 (48:57):
All right. There is and and the the fringe is
separated from many venues, and they're all kind of in
the same place, but there's lots of them. But you
can be outside in the lawn having some food, listening
to some live music and all that cool stuff. But
then when you go into the yellow venue, no, which
is which is Fritz's venue, the element correct until next time,
nice and cool, and there's a bar right there. There's

(49:18):
lots of art. It's nice.

Speaker 2 (49:19):
It's nice to have chairs, yeap chairs.

Speaker 4 (49:22):
It's like rap, they're hot. And you walk in you're like.

Speaker 2 (49:24):
Oh and and Fritz and Frets utilizes tap shoes for
his show. I'm not going to say anything more. Yeah,
you'll have to figure it out. To go see the
show to find out if you want to be in
the know. In the text in your questions to seven seven,
zero three to one. You got one there, MJ.

Speaker 4 (49:41):
I do it, says, Hey, it's Curtis. I just have
a question. I'm trying to start a business. I don't
have good credit, but I need about one hundred thousand
dollars to get started. Is that possible? How do I
do that?

Speaker 2 (49:53):
There's a number of ways to do it. I mean,
we we have business loans, We have SBA loan loans,
all kinds of private business loans. We also have you know,
if you own a home, there might be a way
to take money out of your home in the form
of an equity line or cash out of your equity.
So it depends on how long you are. Like for SBA,

(50:15):
for example, they want to see a track record of
some knowledge in the industry that you're trying to start
a business in. So like if you've been a plumber
for a decade and now you want to start your
own plumbing company, well that's going to check out. That's
going to make a lot of sense. But if you
you know, you come in and say I'd like to
borrow two hundred thousand dollars to do a thing that's
never been done before. Well, that's going to be harder money.

Speaker 4 (50:36):
To aily business.

Speaker 2 (50:37):
Yes, I I am an engineer and I want to
make clay sculptures. I need two hundred thousand dollars. You know,
it's going to be a little harder to get that fun.
So it's kind of a it's kind of like putting
together a resume you get a job almost when you're
talking about a startup business like that, we have to
look at your experience, your life experience, what you're doing,
what your expertise is in that area, what money you
have of your own to put into the business. Do

(50:59):
you have any investors? So there's all kinds of ways
to put this together. I've had plenty of people come
to me with a business idea but didn't have the
capital he it started, But after we had a couple
of meetings and explain it, they come back with an
investor or someone to help bring capital in, and then
we're able to do the loan. So there's a number
of ways to skin a cat. But really it starts
with a conversation. If you want to find out about

(51:20):
a business loan or an SBA loan, you go to
the website that mortgage guide don dot com. There's a
button up at the top says commercial loans. You go
there and there's an information for them. It'll take you
ten seconds to fill out. That comes to me, we
start a conversation. We'll see if we can figure out
a way to do it. There's a lot of creative
ways to make it happen. A great question. Thanks for
texting that into seven seven zero three to one. Guess

(51:42):
what time it is, mj oh I know it's time
for the compare quote of the Week.

Speaker 3 (51:49):
Oh, of course I don't have these on Come on,
tell me, oh I.

Speaker 2 (51:59):
Was flat and do that over all, right. I was joking,
not about the flat I was flat, But that's right.
Compare quote of the week. What's that you ask? Well,
I'm going to tell you that's something I came up
with a couple of years ago because I saw a

(52:19):
study that said less than twenty percent of people got
a second quote after they got the first quote for
a mortgage. And to me, that is a terrible call
because I see so many quotes that are so widely
spread and how far apart the rates are, or how
high or low the fees are, or how much people
are being charge that it really really if you don't
compare your quote, you're you're really not doing yourself any

(52:40):
any favors. And the reason that most people cited in
the study that they didn't compare their quote was that
it was too hard. It was a pain in the
neck to go and do a second application. So my
goals make that as easy as possible. If you get
another quote, all you have to do is go to
the website that mortgage guide don dot com. You upload
the quote, I look it over. I review every single
one of these personally, and I look it over. I
give you call and I tell you, hey, this looks

(53:02):
good or this looks bad, or you can do this,
or we can do better, or here's what we could
save you, and then you go from there. This week's
Compare quote of the Week was this one was an
investor based loan, which is a DSCR loan which stands
for debt service compare ratio. The only people that do
this type of loan are people that are buying an
investment property. The benefit of it. The beauty of it

(53:24):
is that you don't necessarily qualify. You don't have to
qualify with your personal income. You qualify with the income
of the property you're buying. So if you're buying a
rental property, the income that it's going to generate has
to exceed the monthly payment by a certain amount, and
then you don't have to show your income. What you
do have to have is good credit at least a
six' eighty seven hundred plus. Score you also have to

(53:45):
have twenty percent, down which is a big chunk of,
change and you have to have enough reserves for at
least a year worth of payment sitting in the bank at.
Closing so that's why they're able To they don't look
at your personal. Income they are able to securitize it
with all the money and credit that you're putting into the.
Transaction SO I Digress Investor Base, loan A dscr loan

(54:05):
sent me a quote that they were requiring twenty five percent,
down and we're offering them a rate of eight point
six y, two charging them eighteen hundred dollars in fees and.
Points most, lenders like most corner, banks are not going
to offer THESE dscr, loans and the ones that typically
do offer them only have one. OPTION i have dozens
of options, though of these type of this type of.

(54:25):
Loans we shopped around over a dozen different. Lenders because
we're a wholesale, BROKERAGE i was able to find them
a rate of seven point five and in this particular,
LOAN i got them a credit, back a cash credit
back of five thousand dollars towards their closing. Costs so
the other one was eight point sixty, two costing them eighteen.
Hundred this one was seven and a, half giving them
five thousand dollars towards their closing. Costs this was an

(54:48):
investment property In North. Carolina save them two hundred and
seventy dollars a month on their monthly payment and six
eight hundred dollars in closing costs just by taking two
minutes to compare their. Quote but, wait there's. More they
were making them put down twenty five. Percent we only
needed twenty percent down to do the same, loan so
they were able to keep another five percent or twenty

(55:09):
k in their pocket to do some renovations that they
wanted to do on the. Property it saves them they
save sixteen thousand in, payments they said seven thousand in closing,
costs just by taking two minutes to compare their. Quote
where else can two minutes of effort earn you forty
four thousand? Dollars that mortgage guy don that's where he'd

(55:31):
gotten a quote of eight point sixty. TWO i took
one look and, said, bro that rate's. Pooh let's find
you a deal that's better for. You we found a
good rate that was not just some. Jive we found.
It we locked it at seven point. Five you did.
It be. Happy you should get to quote because of your.
Wisdom no missing a. Boat play the jingle.

Speaker 4 (55:48):
Frosts come well, done there you, go well. Done that
was Very. SUSSIAN i enjoyed, It.

Speaker 2 (56:00):
Oh like Doctor.

Speaker 4 (56:02):
Sus yeah, yeah, YEAH i liked it very.

Speaker 2 (56:05):
Much there you. Go Doctor seuss always lives in my, head,
right IT'S i Observed Doctor sussian When i'm just in,
traffic keeps me. Entertained there you, go compare a quote
of the. Week what else we got? Cooking? Do you
can text in your questions to seven seven zero three to.

Speaker 4 (56:21):
One here's someone who, said just finish getting a, divorce
which took four. Years oh, boy that's sounds like a fun.

Speaker 2 (56:27):
Time oh, yeah forty eight. MONTHS i mean one of
the reasons it could take forty eight Months either either
it's like scorched, earth, yeah contesting. Everything that's my, basil you,
know that's my shaker of. Salt. Yeah or it could
be lack of. Commitments, yeah you're, Like i'm not, sure but,

(56:50):
ANYWAY i. Digress, okay four.

Speaker 4 (56:51):
Years four years now it's. Complete i'm looking to get
money out of the, house WHICH i have no. MORTGAGE
i need one hundred and thirty thousand to satisfy the divorce,
decree AND i would also like fifteen to pay off
a LOAN i had to get to get up a
new roof put on my house to satisfy the insurance.
Company SO i need about one hundred and forty Five
can you help? ME i don't know what kind of
a LOAN i. Need how long DO i need to

(57:12):
wait after the divorce to pull up. Cash she's still
on the title and the current. Mortgage is that a? Problem?

Speaker 2 (57:19):
So, Yeah normally the divorce decree is gonna line, out you,
know when a divorce is. Finished we can also sometimes
do this before a divorce is finalized if everybody's happy and.
Amicable but once you have the divorce, decree it tells
you exactly you have to provide, us as the mortgage,
person the divorce decree because we have to provide it
to the. Underwriter everybody needs to look at. THAT a
lot of times people are skittish about why do you

(57:41):
need my divorce. Decree it's, like, well it's literally a
court order once a judge signs, that so we have
to follow. It the title companies have to follow, it
the lenders have to Follow we all have to do
what's you, know what's being. Prescribed so we would look at,
that make sure of exactly how it shows that things
need to be split, up and then we would do
a cash out refinance loan or possibly a home equity
line of, credit dependent on the. Scenario did they say

(58:03):
have to have a first mortgage, now, yeah so you
know it depends probably a first. Mortgage then we would
do that and then you can take out enough money
to get the one hundred and forty five that you're
looking for plus the other. Fifteen you can even roll
in the closing. Costs we just need to do the
numbers and make sure you qualify for the debt ratios
and so. Forth there's no waiting period after a, divorce

(58:25):
and the fact that your wife is still on the
title and the mortgage is pretty. Common usually part of
the divorce decree is saying you have to get that
person financed off of that and give them a certain
amount of, money you, know as part of their divorce.
Separation so all that would be accomplished at closing when
we do the, mortgage our closing company and they're the
title company's attorneys do all the paperwork in such a

(58:48):
way that your ex wife will be quick claimed off
of the property at the same time she receives her
money at the end of the. Refinance so it's all
done at the. Transaction it's all done. Legally it's all
tied up and record and done exactly as the divorce decree.
Says and sometimes you, know her attorney or your attorney
may want to review the mortgage. Documents we can do
that as well, beforehand but typically they know we're following

(59:11):
the letter of the divorce, decree so it's not a
problem that it was just you know that the divorce
was just. Finalized great. Question thanks for texting that into
seven seven zero three to. One go, AHEAD. Mj what
do you?

Speaker 4 (59:24):
Got my wife AND i are seventy years old and
are considering a reverse. Mortgage we have a mortgage for
fifteen years and we have fifteen years left on our
mortgage and it's three thousand dollars a. Month we have
some retirement, income and my husband is working a part
time job thirty hours a, week but he'd like to.
Quit this covers the mortgage. Payment could a reverse mortgage
help give us more breathing? Room can we speak with

(59:45):
you in? Person we filled out the thing online and
got over one hundred.

Speaker 2 (59:49):
Calls not, well probably filled out something, online not on
my web. Site like if you go and fill out
something online AT i don't, know a Lending tree or
Bank create or one of those big, websites it's your
phone is going to explode with. Calls so a lot
of those aren't actually people that do the. Mortgages they're
more like aggregators and they sell they sell the. Lead
same thing happens happened to me recently WHEN i went

(01:00:10):
and tried to get some new car insurance. Quotes, yeah
AND i got blown up you, know one of those.
Services but, yeah it sounds absolutely like a reverse mortgage
could help solve your. Problem it would allow you to
take the equity out of the property so you didn't
have that mortgage payment. Anymore and if your part time
job at seventy you know you're doing a thirty hour
week part time. Job, yeah maybe you're tired of. THAT

(01:00:31):
i think a reverse mortgage may be a great. Solution
simplest way go to the Website That Mortgage Guide don dot.
Com fill up that questionnaire that's on the. Website it's
literally a one page, questionnaire and then we will contact
you at the beginning of the week And i'll talk
it through with you and we'll see what we can
do to figure out your. Situation we put some numbers
in front of. You if you like it, Great we're
not gonna there's no, obligation no, hassle no hard credit

(01:00:53):
pull to figure out what you can. Do you're listening
to The Home Loans radio show with That Mortgage Guide.
Don we'll be right back after these messages for the
final segment of.

Speaker 1 (01:01:01):
Today do you have a question for That Mortgage Guide
don text us at seven seven zero three. One now
back To Home Loans radio On Real. Radio Home Loans.

Speaker 3 (01:01:12):
Radio live here On Real radio one or four point.

Speaker 5 (01:01:15):
One last segment text in seven seven zero three one
or Follow don On instagram That Mortgage Guide, don and
you can also go to That mortgage guid don dot
com dot.

Speaker 2 (01:01:25):
Com welcome, Back welcome back to The Home Loans radio.
Show we're here doing what we do every single. Weekend
you can text into seven seven zero for you one
you got a few. Seconds you can also go to
the website all during the week at That Mortgage guide
don dot com or follow me On instagram at That
Mortgage Guide. Don as the man, said this little piece of.
NEWS i saw this this. Morning four out of five

(01:01:47):
dentists In florida are super. Happy, now oh, no because
it's no. More the governor signed a law to prohibit
fluoride and public water, supplies Making florida the second state
in the country to uh to do. That it's, uh
what do you think about? That M? J, well are
you partial to The Floria do you think it's it's, UH.

Speaker 4 (01:02:09):
I, mean it's one of those things you don't know,
about so you know about. It SO i was reading about,
it and they, said literally in six to eight weeks
there will be an uptick in, Cavities like that's how
fast it.

Speaker 2 (01:02:18):
Happens four out of five putting in order for a
New mercedes this.

Speaker 4 (01:02:22):
Week it's like one of those things that we've never you,
know thought, about that we benefited, from and now we're
going to find, out you know how really be diligent
on your on your, teeth rush them. Down that's that's MY.

Speaker 2 (01:02:35):
Psa be diligent on your.

Speaker 4 (01:02:37):
Teeth if you if you don't have good dental, hygiene
it will affect you the. Worst because literally WHAT i
learned is that the florida in our water bathes your
teeth all day long while you drink, water and it
just maintains this level and if you when we when
it goes, away you have to either find it or
you will just not have that benefit. Anymore and it

(01:02:57):
makes it so you don't have tooth tocake because.

Speaker 2 (01:03:00):
WHEN i got WHEN i go to get my teeth,
cleaned they like they'll ask if you want a fluoride
treatment so you can get like Supplemental yeah. Florid well that's.

Speaker 4 (01:03:07):
Like that SOME i don't think easy to, do but,
yeah did you know?

Speaker 2 (01:03:10):
That when when do you THINK i was reading on?
THIS i found some interesting. Trivia when do you imagine
dental fluss was.

Speaker 4 (01:03:18):
INVENTED i don't know the first time anyone had a
thread of.

Speaker 2 (01:03:20):
Something, WELL i mean as a as a specific item
that was sold and. Marketed we'll say the.

Speaker 3 (01:03:27):
Fifties When, Fritz i'll, say in nineteen.

Speaker 2 (01:03:30):
Fifties, yeah longer farther than. That. Eighteen pick a, Number
i'm sure. Eighteen, yeah well you're you're well closest to
the pen for. Sure eighteen. Nineteen, okay it was the
first marketed official invented using a waxed silk. THREAD a
guy Named Levi Spear palmley In New orleans dental flus

(01:03:52):
in eighteen. NINETEEN i don't know how many shout outs he,
gets but there you. Go also In New orleans or In.
Louisiana just see about. That all the prisoners that, Escaped.

Speaker 4 (01:04:04):
NO i didn't yesterday any of them like running across the.
Street there's like ten of. Them it's.

Speaker 2 (01:04:08):
Bonkers there's they like In, louisiana there was a jail
they said originally, eleven BUT i guess one of them
was in the infirmary so they found. Him he wasn't.
Escaping there was a false. Advertising but they they pulled
out a you, know like a metal sink toilet, situation
dug out a hole behind it and crawled out through.
There they're saying they might have had an inside. Help

(01:04:29):
but the video they have a video of like ten prisoners.
Skidadelie you, know some wear in orange, suits some, not
some wear in gray, suits just running then running ACROSS i, ten,
uh pretty pretty. Interesting they are armed and, dangerous they,
say several of them convicted murderers and. Robbers one of
them was found just a few hours. Later guess where

(01:04:49):
at a Bar French French. Quarter, NICE i just got
out of, jail And i'm going to The French. Quarter
you gotta hang out and have some fun down On Bourbon.
Street well you know you got six.

Speaker 4 (01:05:02):
Hours, yeah there you, go make it, less make it.

Speaker 2 (01:05:05):
WORK i don't. KNOW i thought that Was and of
course that's. Interesting you got a jail break in. People you,
know ten people that think they captured seven seven are
on the list, now but just running around Downtown New orleans. Somewhere,
yeah all, right that's that's.

Speaker 4 (01:05:20):
Scary there you.

Speaker 2 (01:05:22):
Go guess what time it, is M J time for
the Speed. Round it's time for the speed.

Speaker 4 (01:05:26):
Round So i'm going to continue this little little sojourn
on new. Riddles, okay a favorite riddle, Today so all
of you out, there get your get your text and
fingers ready seven seven zero three, one tell me your.
ANSWER i would like. It you guys will know the
answer because it's a RIDDLE i have done.

Speaker 2 (01:05:44):
Before, sure put your name there so you can get
a shout out if you get the answer.

Speaker 4 (01:05:48):
First shout out from. ME i hope that's worth your.

Speaker 2 (01:05:51):
While but first we're gonna do the speed. Round that's
Where MJ's gonna ask me a bunch of the questions
we haven't gotten to so far. Today she's gonna ask
him real. Fast i'm going to answer them. Slow and
if we don't get to your, question then please do
go to the website that mortgage Guy don dot com
after the show posted in there AND i will get
you an answer outside of the.

Speaker 4 (01:06:09):
Show all, Right, well here's some literally THAT i need
to do real. Quick where Does don shop for cheaper car? Insurance?

Speaker 2 (01:06:15):
Oh Express insurance Of longwood sponsor the, show Good, Friend
and that's where that's WHERE i ended up getting my auto.
INSURANCE i did do some shopping, around but that's WHERE
i found the best.

Speaker 4 (01:06:25):
Deal and no spamming for them from.

Speaker 2 (01:06:27):
That, no, no, okay they shop around for. You they're
an insurance. Brokerage you can give use them for homeowners.
Insurance they're a sponsored the. Show you can find their
info on my. Website there's a link to, theirs but
at The Express insurance Of.

Speaker 4 (01:06:40):
Longwood here's someone who, Says i'm confused by. THIS i
was always told floride is a good. Thing why are
they taking it? Out, well that's because it's political.

Speaker 2 (01:06:47):
Stuff, well, yeah there are. THEORIES i don't know who.
Knows look it.

Speaker 4 (01:06:50):
Up here's someone who, SAYS i have a house paid
for AND i am self. EMPLOYED i need to get
a new. Roof how CAN i go about? THAT i
need a loan for the. Roof, well a.

Speaker 2 (01:06:59):
Lot of time the roofing companies will, have you, know
loans that you can apply, for but that may not
be the cheapest way to get the. MONEY a lot of,
times borrowing money out of your house through a first
mortgage or through a home equity line of credit is
the best. Way if if you want to find out
about a home equity line or a second, mortgage we
have over a dozen different types and different. Banks even
if you're self, employed we have some that will do

(01:07:20):
it just with your bank. Statements is proof of income
with YOUR p AND l instead of the full tax.
Returns there's all kinds of options with. Us so the
easiest way to find out is go to the website
that mortgage guide don dot com and hit the refinance
button and fill in your info and then our helock
specialists will talk to you about your goals and give
you some. Options all we do is self credit, poll no,
obligation no hard credit.

Speaker 4 (01:07:40):
Pull how much DO i need to put down to
buy a duplex and live on the on one side of?

Speaker 2 (01:07:44):
It, well the key is to answer the you, know
if you just asked me the first part of the,
question how much to buy a? Duplex any investment property
is normally going to be a minimum of twenty percent.
Down sometimes you can get fifteen percent, down but it's
pretty hard to. Do but twenty percent down is the.
Norm but if you're going to live in one, side

(01:08:05):
that is a whole different. Animal this is the best
way by far to buy a duplex in my, opinion
is if you do it as AN faha loan and
you're going to live in one, side then you only
have to put down three and a half percent to
buy and get an investment duplex or a triplex or a.
Quadplex you so you could buy a quadplex with, faha
live in one of the four, units rent out the other,
three and you know and do pretty. Well that's.

Speaker 4 (01:08:27):
Awesome of course they're hard to. Find all, right here's the.
Riddle get, ready somebody give me a cowboy rode into
town On. Friday he stayed in town for three days
and wrote out On, friday how is that? Possible?

Speaker 2 (01:08:39):
Ah an, oldie but an oldie but good texting seven
seven zero three answer gets bragging. Rights you remember this, One?

Speaker 4 (01:08:50):
Fritz oh, yeah, okay cowboy rode into town On, friday
went stayed in town for three, days and also wrote
out On, friday.

Speaker 2 (01:09:00):
Went through the desert on a horse with no.

Speaker 3 (01:09:02):
Name if, hell get me out of the.

Speaker 2 (01:09:04):
Wrong there you, go.

Speaker 4 (01:09:06):
Well, clues the heat was. Hot all, right there you,
Go all, Right, Mark, mark you are a. Winner there
you go, Here, gloria here love the. Show friday is
the horse's?

Speaker 2 (01:09:16):
Name that's, Right. Gloria there you, Go, well, folks you did.

Speaker 4 (01:09:20):
It Thanks, gloria.

Speaker 2 (01:09:21):
You successfully Wild, away another ninety minutes of Your saturday.
Morning go See something at The. Fringe go See Until Next,
Time Fritz's. Show go see ten sketches With ross And.
Jewel go See. Legends go see.

Speaker 4 (01:09:32):
All The legends show look in The, Bandit.

Speaker 2 (01:09:35):
Sinko, pullok in The, bandits all of my favorite. Shows
play us out of here with something, cool.

Speaker 4 (01:09:39):
Fy you got?

Speaker 3 (01:09:40):
It and that is this right?

Speaker 7 (01:09:43):
Here sell you.

Speaker 3 (01:09:57):
Like, jimmie.

Speaker 1 (01:10:00):
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