Home Loans Radio 06.28.2025 With That Mortgage Guy Don- Is hometown heroes back? Not quite, check out the pinned memo on Instagram.

Home Loans Radio 06.28.2025 With That Mortgage Guy Don- Is hometown heroes back? Not quite, check out the pinned memo on Instagram.

Episode Transcript

Speaker 1 (00:00):
It's time for Home Loans Radio on Real Radio with
that mortgage guy.

Speaker 2 (00:04):
Don.

Speaker 1 (00:05):
Join the conversation text us at seven seven zero three one.
Now here's that mortgage guy Don.

Speaker 3 (00:13):
Hey hey, hey, hey, hey hey hey, good morning and
welcome to the Home Loans Radio Show with that mortgage
guy Don. That's right, you did it. You're here, You're
here with me and my crew. Good morning, MJ. Good morning,
Good morning, mister Fritz.

Speaker 4 (00:28):
Soio start on a dancer.

Speaker 3 (00:32):
Oh yeah, welcome to the Home Loans Radio Show. We're
here doing it right here, live on a Saturday morning,
Real Radio one to four point one, the only live,
the most talked about, the most listened to, live real
radio show about mortgages and stuff right here every Saturday morning.
Isn't that right? Mjay?

Speaker 5 (00:49):
That's right.

Speaker 3 (00:50):
Anything you want to add, it's fantastic. Ah, that's right.

Speaker 5 (01:00):
Eight happy mortgage right, that's right, that's it.

Speaker 3 (01:03):
You nailed it. I'm a mortgage expert and I'm here
here to answer your questions. You text them in live
to seven seven zero three one. We get them into
MJ and we get them answered on air. You can
also just Texas tell us what you're doing out there?
Anything you want to tell us what you're doing, You're working,
what's happening, what's going on with you on this fine?
So far, so far, sunny Saturday morning. I'm already hearing

(01:25):
the the the resident thumping of mortars in the air.
Does that mean that? And I don't mean like you
know in the Middle East, I mean like here coming
up on fourth of July.

Speaker 5 (01:36):
Right, which is which day?

Speaker 3 (01:38):
Not for another six days? Yeah? Next Friday?

Speaker 5 (01:42):
Yeah, yeah, Friday. It's already happening.

Speaker 3 (01:45):
I heard a mortar at about eighth five this morning.
At least I hope it was a mortar.

Speaker 5 (01:48):
That's what you hope, because when you hear it, you think,
oh my gosh, then you think oh right, or at
least a month out from some holiday where people shoot
things into the air.

Speaker 3 (01:57):
I read a blurb somewhere where they were saying a
couple counties are going to make it harder for people
to get the fireworks, and they're also going to make
it making it easier for enforcement of said fireworks.

Speaker 5 (02:10):
They made some rules. You can do it the day
before in the day after, but then you cannot do
it anymore. Please.

Speaker 3 (02:17):
Yeah. I once was in the in my backyard setting
off a couple of mortars. I think it was like
a day or two after New Year's and Castlebury police
officers showed up and said, do you know what today's
date is? Like? January second? He said, that's correct. Are
over all right, sir? Have a nice day. I haven't.

(02:39):
I haven't. I haven't messed with the mortars in a while.
But I guess they're also adding some sort of now
a licensing fee in certain counties, like you have to
buy a permit for one hundred dollars, so they're I
guess they're trying to rein it in a little bit.
I don't know, but that's coming up next weekend. We
got the fourth of July. But I want to talk
about last weekend. I'm going to go back in time.

(03:00):
I'm gonna go back in the way back machine here
for a minute. And as as if you're a regular
listener of the show, you know, we were going out
on a field trip to see Fritz's band at Luscious
Lisa last week in Sanford at Toughy's Music Box and
it was a it was a fantastic show. First time
I've ever seen Luscious Lisa. Fritz and I gotta tell

(03:22):
you way way way under sell undersold to me what
you do in the show.

Speaker 5 (03:31):
I'm just you know, I'm part of the show.

Speaker 3 (03:32):
How you told me what I had asked you before? What?
What do you you know? What is your part in
the show? Betther than writing all the songs? You said,
I'm kind of a hype man.

Speaker 4 (03:40):
Yeah, I'm a song and dance man. I'm a toe tapper.

Speaker 3 (03:42):
There you are. That's a a toe tapper. What I
saw and helped me describe this MJ. Because I don't
know if I have enough words, and that's going to
surprise a lot of people who know me. But it
was you are. It was forty seven. I'm gonna use you.
I'm gonna steal your description. First of all, was it
forty seven minutes of high intensity cardio? Yeah? Would be

(04:05):
one thing. But you sing, you dance, you're on the stage,
you're off.

Speaker 5 (04:10):
The stage, you swivel, you.

Speaker 3 (04:13):
You nay nay, you tata.

Speaker 5 (04:15):
Whatever that is, Kiki, I mean it is something.

Speaker 4 (04:19):
I show a lot of skin. I try to you do.

Speaker 5 (04:22):
I know you a little better today than I did.

Speaker 3 (04:24):
Then you show a lot of skin. You wear a
lot of protective gear, like good like you're I don't know,
rollerblading or playing hockey goldie or something. You got like
shin guards and pads, and.

Speaker 5 (04:35):
Which is good because you slam yourself all around.

Speaker 3 (04:37):
And then I'm like, I couldn't even find out where
you were. I was down on the floor in front
of this, you know, not on the floor, standing in
general admission style in front of the stage, and then woo,
there you go right by me, but on your back
on the floor, shooting around, and then you know, I'm like,
where's he? Where's he? And then boom you you're on
your back on the floor, people standing all around you,
and you bring the mic up and boom, hit the

(04:58):
hit the lyrics, hit the rap right on time, playing
there on your back on the floor. I'm like, man,
this is amazing something and I don't want to take
away from the rest of the cast either. Really fantastic
doing Lisa lusciousness that she does, dan back there on
the on the on the yeah yeah, and then not

(05:21):
even mentioned Sabrina Ombra tap dancing, wearing squirrel heads t
Rex outfits. Uh, that's that's if you ever get a
chance to see the Luscious Lisa Show again and you
don't go do it. Well, shame on you. You have
missed out. I warned you you.

Speaker 5 (05:37):
Will regret it the rest of your.

Speaker 3 (05:39):
Super fun I am so happy that I got to go.
I've seen you in a lot of different live shows.
I've seen you, you know, doing your solo thing is
the real Fritz live playing the guitar one man's show.
I've seen you and Sabrina with a full band doing
the Chorvus stuff on.

Speaker 2 (05:55):
Stage outing a little bit not I've seen you and
the fringe and a play, you know, doing on stage
doing Foley sound and you know, being on stage in
a fringe play.

Speaker 3 (06:06):
But Luscious Lisa was a whole different Fritz. It was
a thing to be reckoned with.

Speaker 4 (06:12):
So I'm glad that you enjoyed it.

Speaker 3 (06:14):
It was fantastic, man, what a great show. I was
very I can't imagine that you're not storing you. You
literally did not stop jumping, dancing, moving, sliding, falling, back, flipping,
bridging whatever for the entire length of the show until
a little bit in one of the final songs. You

(06:34):
just laid down, completely out of breath, on the stage
and people applauded that just a man on the stage
breathing heavily.

Speaker 5 (06:45):
But you earned that break. We all were there for it.
We were there when you were earning it, and we
wanted you to have it. It was amazing.

Speaker 3 (06:53):
That was so much fun. Yeah, great, And the music
and the songs and the lyrics were just so funny. Yeah. Anyway,
I had a blast Booty Bouncers.

Speaker 6 (07:01):
I was talking to Dave Lamb, he's the lead guitarist
for American Party Machine and and he was like, yeah,
he was like, you know, how was the show.

Speaker 4 (07:08):
I was like, it was good.

Speaker 6 (07:10):
It wasn't as packed as we necessarily were hoping for.
But you know, when it's not that packed, you have
more space, you have more flour, especially for Scottie Pizza.
So I you know, when that happens, I have a
you know, a blank canvas, and I'm just gonna smear

(07:31):
my paint all over the place and try to make
it the best show for the people who did show up,
because when it's packed, you can't do that because for
safety security and you know, you can't get back to
the stage in time. So I was like, all right,
then I'm gonna I'm gonna have to ratchet up like
up to one hundred and he goes, I'd never thought
about that before. He goes very interesting.

Speaker 4 (07:52):
It's like when it's packed, you can't really move around.

Speaker 6 (07:54):
You want everyone to be safe, so you just have
to focus on being tight and enunciate and hit everything.
But when it's not, you can, you know, blur the
lines and you can go iggy pop.

Speaker 5 (08:06):
Yeah, that's uh, iggy pop. You did, my friend, Sure, Pop,
you did.

Speaker 3 (08:10):
For sure. That was a lot of fun to see. Uh.

Speaker 6 (08:12):
I seen Pop and he did not do that.

Speaker 5 (08:17):
He did not do that. He was probably came off
the stage, but he just ran around with the mic.
He did not slide around on his back. He did
not do any of those things.

Speaker 3 (08:24):
I was thinking about it on Sunday. I was like, man,
he must be so sore today, Like just the sheer
effort of what of the show? But any it was,
it was fantastic. Uh, five thumbs up. Highly recommend go
see it if you ever get a chance. You know,
we'll let you know if it's gonna well it will
of course, we'll let you know when the next one
is going to be. Uh. That was a lot of fun. Man.
I'm glad we got I'm glad we got to go I.

Speaker 5 (08:46):
Enjoyed Stiletto as well, and I enjoyed the uh PJ
stylings of I don't remember sab Rangoon. I actually had
actually a couple of crab rangoons in my fridge when
we left. I was really trying to think of what
I could do with them.

Speaker 4 (09:05):
But you're like, full circle.

Speaker 3 (09:07):
I'm glad God you didn't bring that.

Speaker 4 (09:10):
Pelting here with with.

Speaker 5 (09:13):
Making them into ear rings or something. Yeah, well that.

Speaker 3 (09:17):
Was that was. It was a blast. I had a
great time. It was a great show. Scotty Pizza, that's
your alter ego, h and that's your that's your stage presence.
I'm not eve gonna say stage name because you you
morphed into the character of Scotty.

Speaker 5 (09:31):
Pizza, and Scotty Pizza is awesome.

Speaker 6 (09:33):
Like at church, he's part wrestler, part trash can, a
naughty bad man.

Speaker 3 (09:43):
Yes, well, well, John, a lot of fun.

Speaker 5 (09:46):
You well done.

Speaker 3 (09:47):
You are listening to the Home Loans radio show with
that more each guy done. I'm here with them, Jay
and the Fritz Man. We're recapping our field trip last
Saturday to Fritz's show. Luscious Lisa, easy for me to say,
a show in Sandford, what a good time. If you
get a chance to go, you need to go and
look up the music online where you find music, because

(10:08):
the songs are fantastic. But today we're gonna talk about mortgages.

Speaker 5 (10:15):
So yeah, that's right time.

Speaker 3 (10:20):
Both of your enthusiasm definitely bridled. But we're going to
work on that.

Speaker 4 (10:27):
Head but each other and talk about mortgages.

Speaker 5 (10:32):
I got to bring it on down mortgages.

Speaker 3 (10:36):
How do you do that? Well, you text into seven
seven zero three one, and he's got the big board
over there. She can tell you. She tells us what's
going on. She tells us what the people are saying
out there. She's got her finger on the pulse of
humanity right here over fifteen counties of central Florida and
beyond via the internet right here live. Text into seven
seven zero three one. That's how you do it. I
got a little bit of mortgage news. Oh boy, see

(10:58):
the building layers. He got a bill layer. So the
excitement MJ. Now, the the Hometown Heroes program is not back.
I've got my question seventy five times in the last
couple of weeks. What's the t MG?

Speaker 4 (11:12):
I hate that.

Speaker 3 (11:14):
Yeah, so it's not quite back yet, and it it
just but they did put out another bulletin.

Speaker 5 (11:18):
Okay, and is it as snarky as the last one.

Speaker 3 (11:21):
It kind of was. It was it was pretty terse.
I'm gonna say terse.

Speaker 5 (11:26):
Uh, you know State of Florida bringing the snack.

Speaker 3 (11:30):
Well, I mean it is, Yeah, it's a it's a
I don't know if it's a state entity. So I
don't want to, you know, nail that down, but uh,
it is E Housing and they handle all of these
these down payment assistance programs like the Florida Bond and
the Hometown Heroes program. So we found out the other
day they posted another bulletin online that the Florida Legislature
had passed the budget, the twenty twenty five twenty six

(11:53):
fiscal budget on June sixteenth, and it's on its way
to the Governor's desk for him to sign off on
it still as far as as of yesterday at five
pm when I was looking this up. But they they
have the pigeon anyway, they're busy. They're building prison in
the Averagilides or whatever. I don't know. The legislature did

(12:18):
pass or put on there a fifty million dollar budget
for Florida Housing and that's half of what it was
last year. Last year was one hundred million. They put
in fifty million this year for funding of the Hometown
Heroes program. But they've made some big changes, big, big,
big changes. Which are you know, when it was originally out,
it was only for military personnel, you know, Hometown Heroes,

(12:39):
It was for frontline workers, it was for some local
municipal workers and that kind of thing. And then the
second year they made it for anybody who has a
job based in a Florida company. Third year, same thing,
anybody who has a job based in a Florida company.
Well today, this time, if it stands, you know, if
it gets signed as is on the Governor's desk, it

(12:59):
is to being only for certain professions. Yeah, so they
moved it back. If you're a healthcare worker, you work
in a school, or first responder, public safety, we work
for the court, or says childcare worker, anyone who's a
service member or veteran of the military, or the National
Guard or the Coast Guard. And they're gonna and basically

(13:22):
they said, do please do not call us asking if
specific occupation qualifies, we will send out an announcement with
public in public and publish a new guide that tells
you all the details. So this is what happens at
E House, and when a bunch of people call and
ask questions, then they put out a bulletin to make
it stop, and that's kind of what they did. But

(13:44):
there definitely says in the bulletin that the funding will
not start on July first, which is what Tuesday I think,
So we're not planning on that, but if it does.
When it does start, it's going to be back to
the original format. It looks like, just for specific professions,
and I think they think that that the funds are
going to last a little bit longer that way. So
they only did half as much, but we'll see. It's

(14:07):
a TBD, but you can count on getting the real
information here first. And people all over the internet saying
it was already out when I looked around on Friday,
it's not. If you're seeing that online, if you're seeing
it on social media, it is not out. Go to
the source. And actually I posted the thing on my
Instagram from E Housing. The official letter is at that
mortgage guide don if you want to see it, it's
pinned to the top of the posts there and you

(14:29):
can actually go read it and lay eyes on it
yourself and put to rest all those rumors that Hometown
Heroes is already out. I probably had ten phone calls
last week of people saying I'm ready to do the
Hometown Heroes, and we have to keep telling them it's
not out and it's not finalized. But soon, I think
within the next week or two, we're gon. We're gonna
hear that you are listening to the Home Loans radio
show with that mortgage guide Don. We're going to take

(14:50):
a quick break right after these messages. Hey, hey, hey,
it's that mortgage guide Don. June is here and so
are the summertime thunderstorms, high heat in her hurricanes. Get
your home ready for all the summertime fun. My home's
already feeling cool and quiet thanks to my impact resistant
windows from Renewal by Anderson. These are by far the

(15:10):
best windows I've ever had. They are made right here
in the USA with Anderson's exclusive Fibrics 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 and safe 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

(15:30):
appreciate style, durability and five star installation and service, do
what I did and call Renewal by Anderson today. Tell
them that mortgage guy Don said to call and ask
about the June special thirtieth anniversary sale by any windows
or patio doors and get the second thirty percent off
and up to eighteen months no interest financing restrictions do apply.
Get all the details at the website today Best Windows

(15:52):
Florida dot com. That's best Windows Florida dot com. License
number CGC one five two seven six one three.

Speaker 7 (15:58):
Hey, it's differs. Did you have a question for that
mortgage guy Don? Text him now at seven seven zero
three one. Now back to Home Loans Radio on Real Radio.

Speaker 5 (16:10):
Good morning, Good morning to you, Good morning, good morning morning.
Here you are listening to mortgages as you do. Good book.
So what were you nominated for their sir?

Speaker 3 (16:24):
Oh, I'm back, all right, Welcome back to the Home
Loans Radio show. That mortgage guy Don, that's me, that's right,
I'm here with them Jay and the fritz Man. We're
doing the thing you can text in live seven seven
zero three one. Well, I answer your questions on air live.
You can also just tell us what you're doing out there,
doing something fun today on the Eland Saturday, something interesting
or just the same old thing you do every Saturday,
while you'd like to hear about it. Yes, we were.

(16:48):
We were nominated. The Orlando Weekly nominated me last week.
I thought we were. I knew that we were nominated
for Best Local Financial Institution. Somebody, a friend had called
me and told me we were nominated for that. And then
I found out after the fact that I was nominated
for Best Local Radio Voice, which I had no idea. Wow,

(17:09):
and up against some serious I can't pull it up
right now who it is, but it's it's a lot
of people who are radio professionals, and you know, but hey,
go to the Orlando Weekly, throw us a vote, Best
Financial Institution, Best Radio Voice. I'll looked it up when
I have a minute and tell you who I'm up against. Yeah,
I want to know, but yeah, researches on it. We'll

(17:32):
figure it out. But right now. Oh, and if you
want to vote easily, I forget. If you want to
vote easily, you go to the Instagram at that mortgage Guy.
Don There in the bio is a link to the
weekly's site and you can you can vote. So far
we have it linked up to do the best financial
institution one. I got to set the other one up.
But hey, if you go and throw us a vote,

(17:52):
please and thank you.

Speaker 5 (17:53):
If you're enjoying the lovely voice of that mortgage guide
La la, vote for the voice that mortgage guy.

Speaker 3 (18:01):
That's my entire range.

Speaker 5 (18:02):
That's it.

Speaker 3 (18:03):
There you go, I have range.

Speaker 4 (18:04):
That's three notes.

Speaker 3 (18:05):
I think.

Speaker 5 (18:08):
You know, it's good to just find your sweet spot
and living it. You don't need to reach too far
into the up and to the down because you know
it might not be where you belong.

Speaker 3 (18:17):
Some people talked about, you know, being five or six octaves.
I got, I got five or six notes.

Speaker 6 (18:21):
Yeah, most I mean to be honest, most people are
one octave anyway.

Speaker 3 (18:25):
Yeah right if it yeah, one octave that sounds right.

Speaker 4 (18:29):
Yeah, so your five notes would fit in there.

Speaker 3 (18:33):
Very cool goals. Yeah, welcome back to but yeah, of
course we're honored to be nominated. And those were nominated
by people you know, writing in essentially write in votes
when they first when they first did it thank you.

Speaker 5 (18:45):
This must be the people who did that.

Speaker 3 (18:47):
Yeah, I don't know.

Speaker 5 (18:48):
Listening right now? Thank you?

Speaker 3 (18:50):
They say we're doing well. That's that's what they say.
But check it out. And then next week we got
another big announcement about some some local contests. But I
can't talk about it. And you know what happens in
this can't happen until after July second, So I got
to talk about it next week. But anyway, stay tuned
if you're listening, be here next week for a big announcement.

Speaker 5 (19:09):
All right, have a mortgage question for sure, let's do it.

Speaker 3 (19:12):
You can text yours into seven seven zero three to one.
Here's how you do it.

Speaker 5 (19:15):
I have a three quarter eight of an acre with
an eighty seven fleetwood mobile home double wide. It's twenty
four by eighty. It's probably not relevant, but I do
still have a mortgage of thirty thousand dollars on it.
I want to build a home in that place. Can
I get alan to build a house before I move
the existing home away? I do currently live in this home.
I'm also wanting to put a barn dominium styled home

(19:38):
on it. Do bank loan studos?

Speaker 3 (19:41):
Well? Those are good questions so they're talking really about
a construction loan, not so much about the manufactured home.

Speaker 5 (19:48):
They're going to move that out, yeah double wide and
build a house.

Speaker 3 (19:53):
So it's going to be kind of a you're in
a tough in between place, you know, because you to
get financing through a traditional It's like Fanny May or
Freddie Mac, you can't have you can't build a construction
house on a piece of real estate that already is
real estate. Like a piece of land that has a
mobile home attached to it's already real estate. So you
can build on that land, but the getting the financing

(20:15):
has different rules. So what they would want Fanny May,
Freddie Mack would want is for that mobile home to
be cleared out of there before prior to starting the
construction loan. Yeah. Oh there's the trick. Yeah, So either
we'd have to go through a non fully conventional source
for the construction loan. They you know, have other banks

(20:36):
that have loans that aren't tied to those exact rules.
But it's it's gonna be it's gonna be a tough
sell because normally that's what they want the people that
they don't want you to get halfway through the construction
and then just move into your mobile home and not finish,
you know what I mean, so that they really want
there to be one home own there and for the
final loan, they might even want the mobile home removed

(20:57):
unless you're going to try and do it with two
structures on the property, which is very, very complicated, and
the only landers that are going to do that are
maybe like some local credit union or local bank. But
that's a great question. What was the last part of
it was about they.

Speaker 5 (21:12):
Want to get a loan to pay the mortgage off
of the double wides, they can build the house.

Speaker 3 (21:16):
Okay, so could you get The question is could you
find another way to do it? Maybe taking cash out
of the manufactured home. I've seen people also split the
land into two parcels and put the new house on,
you know, they just kind of carve out, you know,
a lot for the new house and do it that way.
So there are ways to think about it. I think

(21:37):
we got to get a little outside of that box
and figure out a way to do it. But the
way I've seen people do it before, and I've done
this recently, is that they had one family, they had
five acres, and they wanted to build two houses on it.
So they ended up chopping it up into five pieces,
five one acre pieces, and building homes on two of
those parcels. It can take a while, depends on the county.

(21:57):
It can take three to six months though, to divide
up a parcel, and you got to get it all surveyed,
and it costs a little bit to survey large acres.
You know, you might spend fifteen hundred or twenty five
hundred just on the survey to reparcel it. A great question.
Hit me up offline at the website, that mortgage guy, Don,
if you want to talk more into it. I think
we might be able to find a solution to get
some money out of the mobile home perhaps and you

(22:17):
use that for the construction. But I think we're going
to have to look outside the box a.

Speaker 5 (22:20):
Little bit morning, Don, Mjy and Scottie Pizza.

Speaker 3 (22:24):
Scottie Pizza, Well, he's not Scotti Pizza today. That Scotty
Pizza only appears under certain astrological circumstances.

Speaker 4 (22:32):
Yeah, he's usually riding the rails.

Speaker 5 (22:34):
Right rails in general style admission style listening to the
show before Brie goes to an audition, Less Lisa is beyondwards.
They are a mussy to Bali.

Speaker 3 (22:45):
Yes, pri was there watching the spectacular spectacular funny. Another
funny part that just popped in my head about the
show is that many people who had seen the show
before were not watching the show in the beginning. They
were watching me to see how I was going to Rea.
Why are you all looking at me like we want
to see your face?

Speaker 4 (23:06):
Well, all right, it's a good people watching experiment.

Speaker 3 (23:10):
I'm pretty sure you know the emoji. You know, you
get a choice to like a post, to get like
the happy emoji or the heart or the the one
that's a big surprise face, you know, home alone face.
That was probably my face for the for the first
forty five minutes of the show.

Speaker 5 (23:25):
It was just speechless.

Speaker 3 (23:27):
It was your joy. I had such a great for me. Yeah,
it was just joy. I love a show. And I
said this at the show. I love a show or
art that that takes you somewhere else. It makes you
forget about It gives you a feeling, it makes you
feel something that makes you. I felt like happy, joyous.
I forgot about the world and the tariffs and all
the nonsense for the whole the whole show great job.

Speaker 4 (23:49):
As you're watching a man you know do, corpse drops
right in the middle of the stage.

Speaker 3 (23:55):
Duh, I mean what.

Speaker 5 (23:57):
My brain can only hold that? Yeah, right, yeah, it's
all my brain can on. It's not all the other
noise just fell away while I watched you do what
you do.

Speaker 3 (24:05):
Pretty fun, pretty fun, amazing.

Speaker 5 (24:08):
They did say that mobile home will definitely be moving.
I just don't know if they can move it until
the first mortgage is satisfied. But they're gonna leave it out.

Speaker 3 (24:15):
There's there's ways, there's ways to do that. Hit me up,
we'll chat, we'll chat through it, but we're gonna have
to I'm gonna have to find out what some of
your other resources are in different ways to kind of
make it work.

Speaker 5 (24:24):
My partner are looking or looking to buy our first home,
and we need some guidance on where to start. My
name has been on a mortgage, and indeed previously when
it was added during a refi and it was later
removed during a divorce in twenty twenty one, I've not
been through the home buying process. My partner has never
had a mortgage, and we're looking to see if we
can qualify for assistance as first time home buyers, the
mortgage would be in his name with my name as

(24:47):
a co buyer. So one of them has been on there. Yeah,
one person has been on a mortgage before.

Speaker 3 (24:55):
The key, the key to determining whether you're a first
time home buyer or not is going to be if
you been on the deed to a home in the
past three years. Okay, so if you've Some of the
programs allow if one of the people is a first
time home buyer. Others require both people to be a
first time home buyer something. We have caps on your income.
As far as down payment assistance, some will have caps

(25:16):
on you know, you've got to have at least a
certain credit score. Some require you to bring a certain
amount of your own money. So I can't give a
blanket answer about every situation whether it'll qualify for down
payment assistance. The way to find out is to go
to the website and do the pre approval. When you
click on the pre approval, you fill all that out.
We'll gather some documents and then we'll determine for sure
that your first time buyer eligible. And then we'll check

(25:36):
out all the programs we offer and see which ones
you qualify. You can do that right there at the
website at that mortgage guide Don dot com. We'll be
right back after these messages.

Speaker 5 (25:44):
Hey, it's Ryan for the monsters. Do you have a
question for that mortgage got Don's text him at seven seven.

Speaker 3 (25:49):
Zero three to one.

Speaker 4 (25:50):
Now back to home Loans Radio on Real Radio, Dear
Live on air, Central Florida, Real Radio one up four
point one.

Speaker 6 (25:58):
Talking about mortgages, buying a house, selling a house, refinancing, YadA, YadA, YadA.
You get the idea, just text in a question. We
answered it right here, live on the air seven seven
zero three one on Fritz, and we got and that.

Speaker 4 (26:12):
Mortgage God Don, voice of God? He is, oh, voice
of God?

Speaker 3 (26:18):
Yeah, what's that voice coming out of my car speakers?

Speaker 4 (26:21):
God?

Speaker 3 (26:22):
Yeah? No, no, so yeah. What Fritz is referring to
is we were blessed to be nominated by you the people.
I don't know who nominated me, but we were nominated
for a couple of things in the Orlando Weekly. You
know you you you shop local, you eat local. You
got a mortgage local too. I'm I'm a local small
business here, you know, in Central Florida. That's so mortgage local.

(26:45):
But we were nominated for a couple of things in
the Orlando Weekly. Please go and vote for us if
you're so inclined. But this one I mentioned earlier, Best
local radio Voice, I was. I was surprised that the
voting was out for two weeks before I even knew
I was in this categor or even I didn't even
have any idea best local radio voice. Nominated are, of course,

(27:06):
are beloved Deb Roberts from Jim Colbert Show. Also Jim
on the from The Jim Colbert Show. That's m J
saying that they're Brandon Kravitz, Jim listens sometimes you know, no,

(27:27):
Brandon Kravitz, Johnny Magic, Julie Wilder, Tullia Blake, and that
mortgage guy Don. I'm like, I'm definitely the David in
this Goliaths and here these are all professional broadcasters. I
just pretend on Saturday. Yeah, but hey, you know, even

(27:49):
even if I get to third or fourth or fifth
or sixth, I'm definitely going to get at least seventh
place because there's just only seven of us. But if
you're so inclined, to go to the Orlando Weekly Best
of Competent contest and nominate me or vote for me
for best local radio voice. You can do it every day,
every day, every twenty four hours, you can vote. And
also for best local financial institution. You know that that

(28:10):
old saw.

Speaker 5 (28:12):
But that's an exciting category.

Speaker 3 (28:15):
Yeah, I guess I don't fit into some of the
other categories. But there you go, and you can find that.
There's a link to it on my Instagram. At that
mortgage guy, where where is this?

Speaker 5 (28:24):
What is this for the weekly?

Speaker 3 (28:25):
The Orlando Weeks? They do it every year, They've been
doing it for I don't know a couple of decades.
Where they they celebrate local notables, local businesses, local you
know everything. If you name it, it's in there. You go,
start at the front, go through and vote for all
the local people that you think do a good job
at what they do.

Speaker 5 (28:42):
All right, awesome. Here's someone who says who has two
thumbs and listening to the best mortgage guide done this, lady,
that a great day. Guys, There you go, thank you, There.

Speaker 3 (28:53):
You go, thank you doing that so you don't have
to have a mortgage question. That's how you do it.
You joined the show. You your participation elevates it, at
widened and broadens the conversation that brings in people. We
have a large tense here at the Home Loans radio show.

Speaker 4 (29:06):
Yeah, we didn't give you a self validation, you know,
just just sexist.

Speaker 3 (29:10):
Right you go.

Speaker 5 (29:12):
Anthony says, Hairspray caught that, Fritz Hi Mjay, Thanks Anthony, Oh.

Speaker 4 (29:16):
Yeah, Hairspray. Good morning from my wife Darcy.

Speaker 6 (29:21):
When I first started working at for Baltimore, iHeart media
and every time you mentioned Baltimore, I just and she
started singing, there you go.

Speaker 5 (29:30):
I love that. Happy Saturday, Hi Darcy, Hi Darcy, Happy
Saturday from de Land. Also yay. And here's someone who says,
just call him dirty Jim. He loves it.

Speaker 3 (29:41):
Oh okay, well all right, I'll dump it.

Speaker 5 (29:46):
Sorry Jim. Sorry sorry. Here's some one that says, I
own about three point five million in investment properties and
only oh about two hundred and seventy five thousand at
the present at present? Can I take out home equity
loans on these properties to purchase additional properties? Your answer
is yes, sure you can't.

Speaker 3 (30:04):
I mean, if you qualify. There's a number of different
ways to do it. We have special loans that are
just for investors where you use the you know, the
income of the property to qualify. You can use your
personal income to qualify. You can use tax returns, or
if the tax returns don't show enough income, you can
use you know, business bank deposits. There's all kinds of

(30:25):
ways to do it and to get the cash out
of them. Typically they have to be done individually, so
you know, sometimes I'll do one, two, or three or
four properties, but they'll each have their own individual loans.
Most banks don't want to group properties together. Sometimes people
will call me and say, hey, I want to I
want to get a blanket loan on these four properties.
But it's really not the wisest way to go. Let's

(30:47):
say you have some sort of unexpected financial trouble and
you know the property is the collateral. You don't want
them all kind of tied together. You want, well, just
take this one. You know, I'll give you a board
walk if you leave me alone.

Speaker 5 (30:58):
That's what I was exactly in my mind. But I
was gonna say McDonald's, but.

Speaker 3 (31:03):
Monopoly, McDonald's monopoly, Remember that game, bring it back. I
watched the whole documentary about how it was people.

Speaker 4 (31:12):
Yeah, mcmillions or whatever.

Speaker 3 (31:14):
Yeah, I think that is what it was called. Yeah,
that that was surprising. I tried really hard to win
that monopoly game by finding some fries every week or
a month.

Speaker 6 (31:24):
Man, And they looked so smug, like they were getting
away with it.

Speaker 4 (31:29):
It was a really good documentary.

Speaker 5 (31:30):
How were they eating?

Speaker 3 (31:31):
They were doing fake They made their own you know,
how you get the little scratch off things they had.
They'd come up with fake ones, and then then there
were people that were supposed to check them, that knew
they weren't real, and I don't know, I don't remember
all the details.

Speaker 6 (31:44):
They also would only make one or two of them,
and then the person in charge would give them to
his friends or would just you know, like go to
people who really needed the money and would say, well
you will keep half, I will keep half, and you
need to shut your mouth about it. And then so
they took half, but then they were taxed on one million,

(32:06):
and then they're quickly in the hole and they're like, hey,
that no, that's not right.

Speaker 5 (32:10):
That didn't work out for me.

Speaker 4 (32:11):
That did not work out. And then they eventually went
to the FEDS.

Speaker 3 (32:14):
And yeah, that was the thing that they had.

Speaker 5 (32:16):
It was an inside jet yep.

Speaker 3 (32:18):
And there was also in Shenanigans with the company that
made the special or whatever. Anyway, it was a whole thing.
Who can you trust if you can't trust McDonald's. Of course,
this was what thirty years ago, a long time ago
to hear that was.

Speaker 5 (32:35):
Our legal compliance department.

Speaker 3 (32:36):
I was like, Ohn, all, I've heard that.

Speaker 5 (32:41):
I hear a briefcase.

Speaker 3 (32:44):
I've heard Ronalds. Ronalds and Burglars are very re litigious.

Speaker 4 (32:47):
So that more money than me.

Speaker 3 (32:50):
Don No, kidd, you ain't just whistling, Dixie pal. You're
listening to the Home Loans radio show. That's what you're doing.
You can text and your questions comments conversation to seven
seven zero three one m Jay, you get it on air?
What you got there? I see a few popping.

Speaker 5 (33:06):
Up, Yeah, we do. But here's one that says, this
is the only place to hear Fritz. We all dearly
miss Fritz on the street. That's nice to hear. I
also like listening to what is Possible. I'm thirty seven,
still working on the first one. I'm guessing house never
a bad thing to know more. Keep up the good work.
And you know one thing that we do find out,
or you have told us many times on the show,

(33:26):
is people are often more ready than they think they are.

Speaker 3 (33:29):
Oh, I would say, I can't even tell you, Fritz
being one of the biggest Yeah.

Speaker 6 (33:34):
Change my life a couple of years ago, all this
imaginary money as mine.

Speaker 3 (33:41):
Someone will give me a quartz million dollars to buy
a home.

Speaker 4 (33:44):
Right.

Speaker 6 (33:45):
I didn't even know that I could take money out
of my four one K, which is you can do
that and you're not taxed on it, so you know.

Speaker 4 (33:51):
You get a paycheck every two weeks. And I didn't know.

Speaker 6 (33:55):
I forgot, I guess because I hadn't checked how much
I had over there.

Speaker 4 (33:58):
And then when I did check it, I was, oh,
good god, yeah, I have the money to put down.
Now there you go. I had no idea.

Speaker 3 (34:06):
Yeah, when you first asked me about it, you're like, well,
I think I might want to buy a house next.

Speaker 5 (34:09):
Year and a couple of years.

Speaker 3 (34:11):
I said, all right, well, let's see what you need
to work on. Let's do the application, we'll see if
you're ready. And then we looked at it. I said,
well you can buy now you want to go look
at some You're like, all right, all right.

Speaker 4 (34:19):
How does Saturday work? And then no kidding, two saturdays later,
I'm I'm like this is.

Speaker 3 (34:25):
The one yep, that's that's how it goes. But m J,
you're correct. I would say probably seven out of ten
people that tell me they don't think they're ready are
actually right there already, or they're closed two weeks away
or a month away or three months away, you know.
And that's part of what we do. When you do
the pre approval is I'll tell you what if you
if you're not quite ready, then we'll make a plan,

(34:46):
kind of like a prescription. I'll tell you, Okay, you
need to do this over the next couple of months.
You need to open up a new credit card, you
need to pay this credit card down five hundred.

Speaker 5 (34:52):
Bucks, you know, don't pay this credit card yeah, or or.

Speaker 3 (34:55):
Don't close anything, you know, so we can look at
it and tell you what you need to do if
you're not quite ready. But if you want to find
out or if you want to find out if you're
eligible for the down payment assistance for first time home buyers,
you just go to the website, fill out the pre
approval application. We'll get you in contact with a loan officer.
We'll collect your documents. Only do a soft credit poll,
no hard credit polls for for pre approvals for us,

(35:16):
and we'll let you know either Hey you're ready, let's go,
or hey, here's what you need to do and how
long it's going to take. Thank you for your listening
to the Home Loans radio show with that Mortgage Guide Don.
You can go the website at that Mortgage Guide don
dot com. You can also follow me please do on
Instagram and vote for us in the Orlando Weekly for
best local radio voice and best local financial Institution. Will

(35:38):
be right back after these messages.

Speaker 6 (35:41):
It's okay, it's Sabrina from the news Junkie and that
Mortgage Guide Don is my best friend.

Speaker 4 (35:45):
And now back to that Mortgage Guide Don on Real Radio.

Speaker 5 (35:51):
Quest stay lightning because it does. There you go flap there.

Speaker 4 (35:58):
Light We got lightning in a bos here.

Speaker 5 (36:02):
Yeah we do. That's what they say about this show.
You are listening to Domeloads radio.

Speaker 3 (36:06):
That seems unsafe.

Speaker 5 (36:09):
We were talking open the bottle ye.

Speaker 3 (36:12):
I was saying during the break in between that you know, Fritz,
you had just come back from your honeymoon recently. And
then I was saying when there was someone last week
struck by lightning over on the coast on the East Coast,
and died and they were I think in their twenties
there on their honeymoon. Was like man. Then we started
talking about lightning. Don't mess with lightning, It'll kill you.

Speaker 5 (36:31):
Lightning does not mess around as you go.

Speaker 3 (36:34):
If you're at the beach, starts lightning out there. If
you can see lightning and get inside, Wow.

Speaker 5 (36:38):
If you have a feeling of lightning, trusted text us
at seven seven zero three one. I'd really like to
know what you're doing out there today, and I would
also really like your mortgage questions. So yeah, hit me out,
let me know what you're thinking about. Thank you, Yeah,
thank you, thank you, thank you.

Speaker 3 (37:00):
Yeah, all right, that all you got. MJ.

Speaker 5 (37:04):
No, I mean I have I have mortgage questions.

Speaker 3 (37:06):
I know. No, that's good. Welcome back to the Home
Loans radio show with that mortgage guy Don. You're listening
to us live right here on a Saturday morning. You
can text into the show seven seven zero three to one.
It is a participatory show, please and thank you. You
can also go to the website at that mortgage guide
Don dot com to apply for a loan or even
to listen to over two hundred and eighty four episodes

(37:26):
we've done over three hundred. I think I've got two
hundred and eighty four up on the podcast site. They
only they only let you keep so many, so as
you go forward, you got to drop off some of
the old ones, you know, or pay for a trillionaire storage.
But anyway, you can go to the website that mortgage
guide don dot com or follow me on Instagram at
that mortgage guy Don. There you go, Well, go ahead, MJ.

(37:47):
You got a question.

Speaker 5 (37:48):
Yeah, my fiance and I lived together, but he had
no job and no not good credit when we bought it,
so I guess they bought a house. He put down
one hundred k down payment, though when we bought the house,
I put fifty in. But he's not on the deeder
mortgage and we've split the mortgage payment's fifty to fifty
for four years. Now. Is there a way for him
to buy the house for me to do a mortgage

(38:09):
he has a good job in credit now and get
me my fifty k back so I can go buy
elsewhere we are splitting up. I kind of got that
from the question, but thank you.

Speaker 3 (38:18):
Give him my money.

Speaker 5 (38:19):
We're out.

Speaker 3 (38:21):
But they started with my fiance had lived together, probably
no live it's his live Okay. Oh I see all right,
Well yeah, I think you can probably if he's not
on the deed. Now, who's on the deed, m jay,

(38:41):
he is not on the deed okay, so yes?

Speaker 6 (38:43):
Or the mortgage out the house, yeah, you can sell
you or this person the house.

Speaker 3 (38:51):
You can actually, you can actually do what's called a
gift of equity purchase, which is really a good way
to do it. You can only do a gift of
equity purchase when you're buying a home that you're not
on the deed of, and you're buying it from someone
that is a family member, and when you fiance counts
so or you know, a spouse. But if they're a fiance,
then you can buy it using the equity and the

(39:13):
property fifty thousand dollars worth of the equity and the
property that was put in to count as your down
payment and closing costs. That's kind I need to get
a little more detail and dig into it, but it
sounds like on the surface that's that's something we would
be able to do if he was qualified to buy. Now,
of course, you have to have the right credit score.
We need the best place to start us with the

(39:35):
pre approval. But the ideal way is if we can
do that purchase where you can sell and of course
you get when when the house is purchased, you get
whatever profit there is depending on where you set the
sales price, and they can use the equity in the
house as their down payment and closing costs. So you
should be able to do this without a ton of
money out of pocket. Maybe you know a thousand dollars

(39:55):
or so for appraisals, inspections, that kind of thing. Great question,
thanks for tech seen that into seven seven and zero
three one. That's how you do it right there.

Speaker 5 (40:03):
And I would just say, maybe he's not your fiance anymore.

Speaker 3 (40:06):
Well, they're working on something. None of my beeswax.

Speaker 5 (40:09):
We're splitting up. I don't know.

Speaker 3 (40:12):
I did a mortgage for some folks last month. They
have been divorced for twenty years but still live together
in the same house spens. But it can be a
little complicated legally when you've got people that you know
are co borrowers, co signers both on the deed but divorced,
so it can it can be a little complicated.

Speaker 5 (40:29):
I just feel like the word fiance is like something
that's gonna happen, not like wife. Like wife is something
that's happened. You know, you're legally spouses. But fiance is like,
I don't know.

Speaker 3 (40:39):
I promise. Yeah, it's a it's a it's an in
between her.

Speaker 5 (40:44):
I mean, once you've broken up. I think the fiance part.

Speaker 3 (40:47):
Maybe they think the best thing for their relationship would
be to live separately. I don't know. O, not my circus,
not my monkey. But I can help you with the house.

Speaker 4 (40:57):
I can.

Speaker 5 (40:59):
As I parsed the relationship through the question that you
have sent me. There you go, Yeah, sorry about that. Hello,
there are recently built a home in Marion County. I served.
I served as an owner builder, so we did not
need a GC, which is a general contractor.

Speaker 3 (41:13):
Yeah, I'm guess I'm a general contractor.

Speaker 5 (41:15):
This saved us a lot of money. I want to
sell the house to a family member now, but I'm
being told that I can't since I did not get
a GC. Oh is it correct that I have to
wait a year to sell it? Anyway around this?

Speaker 3 (41:27):
This is uh, this is true. This is there's a
Florida law that you have to be basically a general
contractor to be able to build a house constructed and
then turn around and sell it for profit. Right, So
they want you to be licensed to do that, but
they do a lot of counties have a provision where
if you have the knowledge or in the experience under
your own you can build your own house and not

(41:47):
have to pay a general contractor. You have to you know,
follow the rules and do inspections and there's a number
of things. But one of the caveats of that is
if you do that, yes, you have to wait a
year before you can sell it. The stipulation you have
to I'd have to go and read the Florida statute.
It may be about selling it for profit, but if
you're selling it to if you built it and you're
living elsewhere, you're selling it to a family member, that's

(42:07):
probably going to apply. So I would say in most counties, yeah,
that that year long waiting period is going to apply
for you in this situation. The idea is they don't
want unlicensed people acting as general contractors building houses and
flipping them. They want you to have the option. If
it's your house you're going to live in and love
and stay there, then they want you to have the
option to do that. But they don't want the other.

(42:28):
The opposite side of that is which you know unlicensed contractors.

Speaker 5 (42:32):
That they could do anything.

Speaker 3 (42:33):
You need to go get your license if you want to,
you know, build in flip houses. That's the bottom line.
So there's a tiny carve out and the in exchange
for that carve out. Yeah, you've got to own it
for a year before you can transfer the title in
most counties in Florida. As far as I know, a
great question, I haven't got I don't think I've gotten
that one on air before. Thanks for texting that into
seven seven zero three one, so good job texting in

(42:54):
question we haven't gotten before.

Speaker 5 (42:56):
Thank you.

Speaker 3 (42:57):
We're we're here doing what we do. You can please
go to Instagram and follow me there at that mortgage
guy don You can also follow the Fritz Man at
No Underscore Regrets Underscore Coyote and follow him there. You're
you're close to finishing up your next big album for
the real Fritz right. How much how long till till

(43:17):
we get to lay our eyes and ears on that jewel?

Speaker 6 (43:20):
Well, I'm gonna try to release it next month at
the end of next month, because my first album came
out July twenty third two thousand and five when I
was twenty and this is twenty twenty five, so twenty
years of boy releasing music. So I'm trying to release
it on the twenty fifth of July.

Speaker 3 (43:36):
That's exciting. You're gonna have a big party. You're gonna
have a launch party, You're gonna perform live, you go
to do you got planned or is it all the
secret at this point?

Speaker 4 (43:44):
Don, I have nothing planned.

Speaker 6 (43:47):
I'm just releasing an album as a twenty years all right,
and then I will take your time off and work
on the next one.

Speaker 3 (43:54):
Can't wait to can't I can't wait to hear it,
and that'll be your third Reel Fritz album.

Speaker 4 (43:58):
That is correct, a mundo, Very good.

Speaker 3 (44:00):
You're listening to the Home Loans Radio Show. We're going
to take a quick break. We'll be right back at
the top of the hour. Hey hey, hey, hey, hey,

(44:36):
hey hey, welcome back to the Home Loans Radio Show.
Fritz just said something funny in my ear. Whole new whole,
new mental picture. All right, welcome back to the Homelannes
Radio show with that mortgage guy Don And that's right,
we're here. We're with my crew MJ and Fritz and
that was who is that you that rejoined Fritz? Who

(44:58):
are you bringing us back with?

Speaker 6 (44:59):
That was Florida slang. That song is called Casual Sects. Yeah,
the title was really funny and then it was a
good story that I had in mind.

Speaker 4 (45:10):
So there you go.

Speaker 3 (45:11):
Well that's uh beautiful. As always, you can always go
and find Fritz's music anywhere you listen to music, you look,
you look for Fritzman. You can also follow him on
Instagram at No Underscore, Regrets, Underscore, Coyote, and also other
band names Lussias Lisa, Florida slang, Corvus Incorporated, the real
Fritz Moon from Moonmen from Mars, all of Fritz's musical joints.

(45:34):
You can find all that music online. And thank you
as always for playing your legit tunes here on our
little mortgage show on Saturday Morning's.

Speaker 5 (45:43):
Right, you don't forget to vote for best Radio Voice
and best financial Institution at your land right.

Speaker 3 (45:49):
We were nominated. You can there's a direct link in
my bio on Instagram at that mortgage guy don If
you want a shortcut there it is, do it. You
can vote every every single day, apparently, yeah, are you
voting every day?

Speaker 5 (46:03):
M j Where do you vote. I'm on it. It's
gonna happen.

Speaker 3 (46:11):
Fritz will show you.

Speaker 4 (46:12):
Okay, thank you, Orlando Weekly Dot.

Speaker 3 (46:15):
Go, thank you for your support.

Speaker 5 (46:17):
Got it. I'm on it. I'm on it voting right now.

Speaker 3 (46:20):
There you go. We got a little I'm gonna do
a little recap of mortgage news, you know, because a
lot of people are asking about that Hometown Heroes program.
There's a big down payment assistance program that typically has
come out every July for the last this will be
the fourth year, but it's not coming out July first
this year. The government got the budget over to the
governor on June sixteenth. It hasn't been signed apparently yet,

(46:42):
and then once it does, they will let us know
when those funds are available. But there are long I
don't know. The Governor's busy, and I don't know how
they do it. Normally it's approved like after the legislative
session in April, but it's dragging on. But the bottom
line is they are saying, yes, there's fifty million dollars allocated.
They've they've acknowledged that for the Hometown Heroes program, which

(47:04):
is down payment assistance for first time home buyers. But
they've gone back to the they say they're going back
to the original rules where it's only going to be
certain professions, certain jobs, nursing, teaching, you know, municipal employees.
There's a list, there's a kind of a bare bones list.
They haven't really they say in healthcare workers. But when
they actually put it out, they'll have a list of

(47:25):
you know, it'll probably be fifteen pages long, of all
the various occupations that apply. But we don't know yet,
so I can't give you any answers, but to stay tuned,
you can see I'm going to keep the there's a
lot of fake news on Instagram and social media about
this program being back already. Sure, but if you want
the actual real source, go to my Instagram at that

(47:46):
mortgage guy. Don I post the bulletins right from the
source there and pin them to the top there on Instagram.
You can go read it and see what it says
about the Hometown Heroes program if that's something that you're
thinking about. Very soon, you are listening to the Home
Loans radio show. Guess what time it.

Speaker 5 (48:03):
Is, Oh, what time is it?

Speaker 3 (48:05):
It's time for the compare quote.

Speaker 5 (48:07):
Of the week.

Speaker 3 (48:15):
What's the compare quote? Of the week. You ask, well,
I'm going to tell you. That's something I came up
with a couple of years ago after a study that
said that less than twenty percent of people compare their
mortgage quote after they get the first one. And I
decided that's bananas because I see those quotes that people get,
those first quotes, and so I started this thing where
you could just upload your quote, tell me your score.
I don't need to pull credit. I just can tell

(48:36):
most of what I need to know from the other quote,
and I'll look it over. Within a short amount of time,
I can tell you, hey, this is a great quote,
or no, this is garbage. You're in a heap of
trouble here, and you can do better by this amount.
But the other thing I've been telling people is not
just for purchases, it's not just for refinances. It's not
just for commercial loans that we do or reverse mortgages.

(49:00):
Also for helock. So this is the one. Helock is
a home equity line of credit. So this one was
for a home equity line of credit, basically a second
mortgage quote. They had gotten it, they'd gotten it all.
They'd gotten it through Rocket Mortgage, a big national lender,
and they were pretty happy with their quote. The rate
on it was ten point seven to five. That didn't
shock me at first, because depending on people's credit scores,

(49:20):
I see the helock rates somewhere between, you know, the
sixes and the tens or elevens, depending on how much
you're trying to take out. But in this case, this
was on a thirty year fixed second mortgage, and so
that what that means. It's different than a helock in
some ways, like you could take out all the money,
but a lot of times they'll have a draw period.
This one didn't. It would be you take out all

(49:41):
the money and then boom, you just start paying it back.
On three hundred and sixty payments over thirty years, the
rate was ten point seven to five, and when I
compared our our rate, our rate was seven point twenty five.
But not only that, so at seven point twenty five,
the payment was about two hundred dollars less than what
they were going to get through the other lender. But
I looked at doing it as a twenty year loan,

(50:03):
and the rate was even a little lower on the
twenty year loan, but the payment still came in one
hundred dollars lower than the other payment that they were
doing a thirty year loan on. So that means that
we were able to shorten their term of repayment by
one hundred and twenty payments or ten years worth of payments,
and the payment was still one hundred bucks less per month,
So it ended up saving them. I did the if

(50:24):
you do the math on the savings of the interest
for one hundred and twenty payments, they saved over sixty
five thousand dollars. Wow, second mortgage. By comparing their quote,
not only is it one hundred dollars less per month,
they're painted off ten years sooner, and the rate was
three points better and so overall it's saving them over
sixty five thousand dollars. They were absolutely shocked. They told

(50:46):
me that the only reason, Fritz, that they even compared
their quote is because they kept hearing the jingle when
they were driving around and they turned up the radio
to see what the jingle was about. That's awesome, and
ended up comparing their quote that same day. So, uh, wow,
the day the power of music, the power of the jingle.

Speaker 5 (51:07):
They're like, wait a minute, that's about us.

Speaker 3 (51:08):
Here's the recap they'd heard the jingle crisp and bright
and new. Comparing it felt quite right. Their original quote
turned out to be grim, like swimming laps when one
can't swim. We got a lower quote, they got a
better rate. They chose to compare it. It changed their fate.
They saved a pile, and it's time to gloat because
they did not miss the savings boat. You know what
to do, Fritz.

Speaker 4 (51:36):
One more time.

Speaker 3 (51:45):
It's my good friend. Fritz and Darcy created saying, performed, organized,
and arranged that jingle, and I want to do with
these buttons.

Speaker 5 (51:58):
Somebody just said nobody can underst and the first part
of the jingle. I disagree. Nobody. Maybe nobody, maybe not.

Speaker 3 (52:04):
Nobody knows.

Speaker 5 (52:07):
Don't miss the boat. Compare your quote. There you go
with that mortgage guy. There you go.

Speaker 3 (52:13):
We're gonna get it on bumper stickers.

Speaker 4 (52:16):
Dot com in case you can. At that point.

Speaker 5 (52:20):
It's tricky, but you can. You can do it.

Speaker 3 (52:22):
It's like many songs you don't you don't know all
the words, but you find yourself singing along anyway, and
then you belt out the parts that you know, like
at the end, like dot com. Right, That's how I
do it.

Speaker 6 (52:32):
Yeah, I got news for you. I still don't know
what the hell bon Jovi is singing about.

Speaker 4 (52:37):
Yeah, but I know the songs.

Speaker 5 (52:39):
There are lots of songs I got very wrong.

Speaker 3 (52:41):
Yeah.

Speaker 5 (52:41):
What's that foreigner song urgent.

Speaker 4 (52:46):
Where he just has urgent?

Speaker 3 (52:47):
Yeah?

Speaker 5 (52:48):
I thought it was virgin for many years then he
was going like Virgin like. At the time, I was
a young person driving my car, thinking is he singing.

Speaker 3 (52:59):
To me the best oil?

Speaker 5 (53:02):
Why is he? Why is he dissing me?

Speaker 3 (53:05):
Only the best olive oil? You know qualifies as e
v Oh, there you go, that's true. All right, go ahead,
I'm there.

Speaker 5 (53:15):
I have a mortgage question. I'm looking for help. Don
will you've come to the right My insurance is going
to be canceled in July due to some issues with
my home. I own a home that needs a new roof.
It's leaking and new plumbing. Tree place, polybudle.

Speaker 6 (53:31):
Piping, polybutle poppy, poly boodle.

Speaker 3 (53:38):
You don't know it's polybutling piping. Okay, I'll explain it.
Go ahead with the course.

Speaker 5 (53:44):
They don't like their piping. Who knew? And illumin aluminum wiringmum? Yeah,
before they will insure it. I don't get insurance. If
I don't get insurance, my mortgage company is going to
force me force place insurance four times more than what
I have now. I can barely afford the twenty four
hundred dollars mortgage payment as it is. I cannot sell

(54:05):
the house because I have no other place to live
or family to take me in, and I want to
stay here. I am seventy years old. The house is
over three hundred k in equity. I've been turned down
for a helock because my income is thirty five hundred
dollars a month.

Speaker 3 (54:20):
Well, you answered, basically if I was on a phone
call with them, those are all the questions I would
have asked. Thank you for being thoroughed. So you're not
able to qualify for a helock or another mortgage. I
don't know what your grade is, but I don't even
think a refinance would necessarily help you because you're Social
Security income needs to be normally double what your house
payment is to qualify. So you know, if your house

(54:41):
payment's twenty four and your income is thirty five, we'd
have to get that eight hundred dollars less. And that's
if you don't have any car payments or credit cards.
I really think like I think this is probably more
of an ideal solution for a reverse mortgage. I don't
know if you've looked at those yet, but a reverse
mortgage would allow you to take care out of your
property to get those things fixed up, and it would

(55:03):
also make it so you didn't have to pay mortgage
payments going forward, and you could live in your house
for as long as you want, only paying the taxes
the insurance you know in the ho WA, So that
may be the ideal way to go. I don't hear
anything there that tells me that you wouldn't qualify. The
difficulty is that we need to close before your current
insurance insurance is canceled, and then we would probably need

(55:26):
to do those repairs right away, or we might even
need to do some of the repairs before closing, and
we have a contractor that will you know, put on
a roof or do a repipe and then get paid
at the closing from the proceeds from the reverse mortgage.
So I do think you have a lifeline here, but
really the only one I can see that makes sense
for you in your scenario would be a reverse mortgage.

(55:47):
You want to find out the details. There's no hassle,
there's no costs, there's no quote, there's no hard credit pull.
You just go to the website that mortgage Guide done.
You click where it says reverse. There's a one page
information thing. You fill out and then we'll get a
get with our our reverse mortgage bank and get you
a quote and then you know, talk it through with
you and see if you like it. If you want
to come in the office and do an appointment, that way,

(56:07):
we can do it too. Whatever whatever works for you.
Great question. Thanks for texting that into seven seven zero
three one. The good news is, I think you have
a solution. I was feeling I was feeling a little
worried until you said what your age was, because to
do a reverse you have to be over age sixty two.
So there is a solution. Good news, good news on that.

Speaker 5 (56:25):
That's awesome and for the people it works for, it's great.

Speaker 3 (56:28):
Oh yeah, if you're you know, if you're in a
fixed income and you want to stay in your house,
but because you're no longer working, the Social Security isn't
you know, you're not making you're making half of what
you used to make. If you don't have a lot
of retirement, a lot of savings, you know, and you're
trying to figure out, like this person, they're roofs leaking,
they're they're polybutal piping. Polybutal piping is a piping that
was put in homes in the seven seventies and eighties

(56:51):
in Florida, and what they found out, sadly after thirty
years or so, is that it gets brittle and cracks
and leaks.

Speaker 5 (56:58):
So what's it made of?

Speaker 3 (57:00):
Beutling?

Speaker 5 (57:01):
You keep saying that word. I don't know, but like,
is it like plastic?

Speaker 3 (57:03):
It's like a version of PVC. Okay, like yeah, but
it's an older version. Now they use pecks in different
different types of plumbing. Yeah, for for plumbing, because your
your addicts in Florida get up to you know, one
hundred and thirty one hundred and forty degrees and over
thirty years, they found out that this polybutling piping becomes brittle,
so they won't ensure over that same thing with the

(57:24):
aluminum wiring. It used to be cheaper to wirehouses with aluminum,
but they found out over time that you know, insurance
companies say it's a higher risk for for fires. So
when they're when you're in this situation, they want you
to fix those old things and you know, get them
up to date, and then your insurance will probably be
a lot less if you have a new roof and
no polybutle piping and no aluminum wiring or at least

(57:46):
the upgraded you know, safety parts that can make that
wiring safe, safer than you want to fix that anyway,
and your insurance prices are probably gonna drop. So that's
a great question. Thanks for texting that into seven seven
zero three to one.

Speaker 5 (57:59):
Here's someone who said they got this lyric wrong. Like
a twister I was born to walk alone.

Speaker 3 (58:05):
Yeah, like a twister. I like that. The ones that
I always have trouble with would be like Pearl jam
you know, like no, no him, him. You know, it's
like I don't know what he said, but it sounds.

Speaker 5 (58:17):
Good like doing. Here's what it says. You're currently helping
me with a reverse mortgage for my mom, and we
are running it's that same repair roadblock.

Speaker 3 (58:26):
Yep, it can happen, you know, it's uh, but there
are ways around it. And that's the that's the solution
we have is we've worked really hard to find a
contractor that I trust, and I've been doing this with
for about three or four years. I know they'll actually
do the job well, do it properly, not overcharge you know,
they're they're competitive and willing to do the job and

(58:46):
get paid later after closing. That's a big risk for
a contractor to take because, uh they if you know,
you can't go get your roof back once you put
a roof on, you know, if the loan doesn't close,
it can be it can be problematic.

Speaker 5 (58:57):
What are you doing, I'm pulling out all this wiring.

Speaker 3 (58:59):
Yeah, so that's why. But yeah, that's why they trust
me because they know I'm not gonna turn them loose
and say, okay, let's put on the new roof if
we're not, you know, really ninety nine percent sure the
loan is actually going to close, so we wait till
that point in the process to make that happen. You're
listening to the Home Loans Radio show. We're gonna be
right back after these messages for the final segment of today.

Speaker 1 (59:18):
Yay, do you have a question for that mortgage guide?
Don text us at seven seven zero three one. Now
back to Whole Loans Radio on Real Radio.

Speaker 4 (59:29):
Oh yeah, it's coming to a close, but you know
what isn't coming to a close, not yet anyway. Voting
at the Orlando Weekly dot com, you can vote for
best Radio godhead of the universe of Central Florida. Vote
for that mortgage guide Don.

Speaker 3 (59:47):
What were they thinking? How'd they nominate me for best
local radio voice? Were they against?

Speaker 5 (59:53):
Yeah, it's smooth, it's got a nice timba.

Speaker 3 (59:56):
People driving off the street, sleeping.

Speaker 5 (59:59):
Snooze only in the best way.

Speaker 3 (01:00:01):
I think it was like a rental car commercial where
they had the sensed candles in the back, like yeah.

Speaker 5 (01:00:07):
So people are sending in some lyrics that they've gotten
wrong through the years. Once and I always thought the
a CDC song was dirty Needs, Dirty knees and thunder Chief.

Speaker 3 (01:00:18):
You're going to need the dump button ready? I like that.
I like that.

Speaker 5 (01:00:22):
And here's somebody who says, instead of there's a bad
moon on the rise, I heard there's a bathroom on
the right.

Speaker 3 (01:00:30):
There's a song Calledamera.

Speaker 5 (01:00:33):
Okay, yeah what they say? Yeah, I always thought it
was one ton Tomato.

Speaker 3 (01:00:40):
I thought it was one Don Almeida.

Speaker 5 (01:00:43):
I like that one ton of meta. I always okay,
So here's your assignment. Uh, gentle listeners. Uh, bring me
your weird lyrics. I'm all about it. I want to
hear the songs that you've gotten right, I mean wrong,
or maybe you had them better.

Speaker 4 (01:01:01):
One to Maato out that's a big tomato.

Speaker 5 (01:01:05):
Yes, yeah, one toime to Maata. That's the point of
writing a song.

Speaker 4 (01:01:08):
One ton tomatoes is funny too.

Speaker 5 (01:01:11):
I'm pretty sure one time tomato.

Speaker 3 (01:01:13):
It's one don almetah.

Speaker 5 (01:01:15):
Okay, that's me.

Speaker 6 (01:01:15):
All right, all right, I guess the world will never know. Well,
let's do the speed round.

Speaker 5 (01:01:20):
We'll just come in early.

Speaker 3 (01:01:21):
Guess what time it is? Time for the speed round? Yeah,
there's Ramjay's gonna ask me a bunch of the questions
we haven't gotten too yet so for today, and I'm
going to answer them as quickly as possible. If we
don't get to yours, it doesn't mean I didn't want
to go to the website and put or Instagram and
send me a message and I will answer it after
the show.

Speaker 5 (01:01:39):
All right, here's one. What's the youngest age for reverse mortgage?

Speaker 3 (01:01:43):
Technically sixty two, but if you're sixty two and your
partner is fifty nine, then that might work. So you
can be like one of you has to be sixty two.
The other one can be up to three years younger.

Speaker 5 (01:01:55):
Okay, can a six fifty credit score qualify for helot sure?

Speaker 3 (01:01:59):
Yeah, we've got credit scores well, I mean down to
six forty is kind of the bottom threshold for home
equity line second mortgages, that kind of thing. But yeah,
if you're if you're above six forty, then we gotta
we can get you a quote. It's really easy to
get you just go to the website.

Speaker 5 (01:02:13):
Do you have to pay closing cost out of pocket
on a reverse mortgage.

Speaker 3 (01:02:17):
No, you don't. Typically we're going to try and structure
that so all the costs are included and you're actually
getting money back, you know, in the scenario. In some cases,
we've had it where the equities just barely on the edge,
you know, where somebody might need to bring a small
amount if they choose to. But by and large, ninety
percent of the time, the closing costs are included into
the whole the whole thing.

Speaker 5 (01:02:38):
I've got somebody complaining. Now you have me singing the song.
We're guessing that is one ton tomato.

Speaker 3 (01:02:44):
Quan ton of meta. There you go, one ton to mado.

Speaker 5 (01:02:52):
Tom petty is tree frogging tree frog?

Speaker 3 (01:02:57):
That's funny.

Speaker 5 (01:02:58):
Anyway, there's lots of the My son always thought Garth
Brooks I'm shameless, was actually I'm shaving. And Steve Miller
big old jet had a light on.

Speaker 3 (01:03:09):
Yeah it jet had a light on.

Speaker 5 (01:03:12):
Jat had a lad. I like it. I like it
a lot. Anyway, bring me those next year, I mean
next week. I want them so much. Here's when Bob Siegert.

Speaker 2 (01:03:19):
Nice boobs, Oh, talking about some nice boobs.

Speaker 3 (01:03:25):
I don't know if we have to dump that or not.

Speaker 4 (01:03:28):
Fine, yeah, booby, summertime.

Speaker 3 (01:03:31):
I told you to be ready. Go ahead, I'm Ja's
speed round.

Speaker 5 (01:03:34):
Sweet sweet summertime. All right, all right, now it's time
for the riddle.

Speaker 3 (01:03:38):
Oh is that it for speed round?

Speaker 5 (01:03:39):
I could do more?

Speaker 3 (01:03:40):
No, let's let's uh yeah, do one or two more
a little early?

Speaker 5 (01:03:44):
Okay? Can I get a gift from a family member
for all the down payment and the closing cost on
a purchase I give? Can you get a gift for everything?

Speaker 3 (01:03:54):
You can? You can get a gift for a down
payment on your primary residence or second home. It gets
a little complicated if you're getting a gift and you're
trying to buy an investment property, A lot of landers
won't allow that. But buy and large for your house,
for your first home or your home that you're going
to live in. Yeah, you can get a gift for
the full amount from a family member.

Speaker 5 (01:04:12):
That's so cool. For a refinance with a cash out,
can I how long does it take me to get
my money on.

Speaker 3 (01:04:17):
A cash out refinance? Yeah? Probably three weeks, four weeks,
you know, from when we get started, if it depends
on if we have to have an appraisal or not
a lot of times, so we get an appraisal waiver
and that saves a week or two, but pretty quick.
Three weeks, four weeks at the tops. And then once
it closest you get ready, it's wired to your bank account. Yeah.
And then you also usually get to skip a mortgage

(01:04:38):
payment when you refinance. That's cool because you know there's
an in between place and sometimes you can even skip
two mortgage payments. We can set that up and arrange
that if the timing works, all right, there you go,
Riddle time.

Speaker 5 (01:04:52):
It's an easy one. So I think it should be
a race. Oh okay, all right, between you and Fritz.
Are you ready?

Speaker 4 (01:05:00):
Yes?

Speaker 3 (01:05:01):
You ready? Fritz.

Speaker 5 (01:05:03):
Where can you finish a book without finishing a sentence?

Speaker 3 (01:05:08):
Where can you finish a book prison?

Speaker 5 (01:05:10):
Yep? Well done, well done.

Speaker 3 (01:05:15):
Yeah, that's that checks out that Fritz will know about that,
and not.

Speaker 5 (01:05:20):
Because Fritz has read a book.

Speaker 4 (01:05:21):
ID I did the sentence?

Speaker 5 (01:05:27):
Oh notre sentence, I see, without finishing a sentence.

Speaker 3 (01:05:31):
Yes, well done, here's one.

Speaker 5 (01:05:35):
Instead of my world crumbles when you're not there. I
thought it was I blow bubbles when you're not there.

Speaker 3 (01:05:40):
I think that works though.

Speaker 5 (01:05:43):
All right, next week, please bring me and be thinking
about the songs that you have wrong in your head.

Speaker 3 (01:05:48):
I love the song lyrics.

Speaker 5 (01:05:50):
In your head instead of that's like in your bed. Sorry,
go on, Well, folks, you did it like a drifter.
I was born to walk alone. Always thought it was twister,
white snake. Here I go again.

Speaker 4 (01:06:02):
Oh all right, time to go?

Speaker 3 (01:06:04):
All right, all right, well, folks, you did it. You
successfully wiled away another ninety minutes of your Saturday listening
to us Pratt alone about all the things right here
on real Radio one oh four point one. Follow me
on Instagram at that mortgage guy don and while you're there,
give us a vote. We're nominated for Best Local Radio
Voice and best local financial Institution. What a surprise, and

(01:06:25):
thank you for nominating us. Play us out of Here
with Wooden Windows by the Real Fritz Fris.

Speaker 1 (01:06:41):
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 loans Radio dot com