Home Loans Radio 08.30.2025 With That Mortgage Guy Don - Rates are dropping, it is time to refinance if you have a rate in the high 6s or 7s

Home Loans Radio 08.30.2025 With That Mortgage Guy Don - Rates are dropping, it is time to refinance if you have a rate in the high 6s or 7s

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 show with that Mortgage Guy Don.
That's right, it's me. We're here, We're doing it. I'm
doing it as we do every single Saturday with my crew.
Good morning, Mjay, Good morning, and good morning, and welcome
back to the Sunshine State The Fritzman on what it is.

(00:36):
Oh yeah, here, you're listening to us live right here
on Real Radio one to four point one, the only,
the most talked about, the most listened to, the most
coolest show right here on Real Radio and Saturday mornings
that you can text into at seven seven zero three one.
Join the party. Tell us what you're doing out there,

(00:56):
tell us, you know, just say hey, hey, Mjay, what's up?
You know? Tell us, uh, you know, good things. Tell
us what's going on. You can ask questions about mortgages
and real estate and home loans and all that kind
of stuff, because you know, I'm a mortgage expert. So
that's that's kind of the kind of the deal. But
we like talking about everything under the sun. Right, mister Fritz,

(01:17):
Welcome back to the Sunshine State. I mentioned you I
uh and I'll be here all week. Welcome back. You
were in uh NYC. I saw some social media posts
in NYC. That must be that must have been a blast.

Speaker 3 (01:33):
Yes, I was in New York City. I don't know
where NYC is. New York City.

Speaker 2 (01:39):
They make tremendous salsa. I've heard they.

Speaker 3 (01:44):
Don't take too kindly for people coming in and think
of the new salsa.

Speaker 2 (01:47):
Now New York City, get the rope. Yes, well that
you were there, you were up there for the Lady
Guy Got concert. Must have been amazing.

Speaker 3 (02:01):
Yeah, we went up there to see Lady Gaga on
Wednesday night and Tuesday night we saw Mulan Rouge on
Broadway Broadway on the Big White Way.

Speaker 2 (02:10):
I have I have seen both of those shows.

Speaker 4 (02:13):
Well, not this Lady Gaga.

Speaker 2 (02:14):
No, No, I mean I've seen Lady Gaga when when
in or Yeah, I was looking at tickets to go
or try and find some seats last minute. I didn't,
you know, get them when they were first offered at
the the low prices. But now you got to you
gotta be like Scrooge McDuck.

Speaker 4 (02:32):
How much.

Speaker 2 (02:33):
Oh man, I was looking the ones. I think they're
down in Miami. Yeah, I was looking at anywhere in
the lower bowl. Was looking like three grand per tickets. Yeah,
like that's what it's left. Obviously they sold them, you
know when they first go on to sale. Now they're
with the resellers, and holy moly, I was like, not
gonna see you this time, lady.

Speaker 4 (02:54):
I hope you make a movie. I love it when
you make a movie.

Speaker 3 (02:58):
Yeah, I think she probably will. I mean it was
it was very theatrical. Obviously I'm a little horse from
screaming so much, but it was. It was a lot
of fun.

Speaker 4 (03:08):
That's amazing.

Speaker 2 (03:09):
Were you screaming because of the show or just other stuff?

Speaker 3 (03:12):
Yeah, just constantly shouting out Stephanie, you know, trying to
get her attention from from section two eleven.

Speaker 2 (03:22):
Two eleven sounds close. Where were a Madison Square Garden?

Speaker 3 (03:28):
Madison Square Garden. Yeah, first, I've never been there. In there, yeah,
it was. It was amazing. So they what was called
they opened up their merch area to the public on
days she was she was playing, So even if you
didn't have a ticket, you could go get some like
Lady Gaga merch.

Speaker 4 (03:47):
We were.

Speaker 3 (03:49):
We ended up being first in line. We got there
around like thirty minutes before they opened. We were third
in line, but then they opened up two different security areas.
We went to the left and we were first in line.
So that that was and then got some Lady Gaga
shirts and went back to the hotel and then went
back later that night to see the show so we

(04:10):
didn't have to lug around those, you know, expensive tour shirts.

Speaker 2 (04:13):
That's my least a favorite part of buying merch at
a show is you have to carry it around next
to your seat. It's under your seat, You're wrapping your
beer with it. Where are you going?

Speaker 4 (04:23):
I always think that too, always think. I always think
I'll go online later and get it, and it's never there.
You go online, all that's left are like lighters and
no really weird stuff, extra.

Speaker 2 (04:33):
Small woman's tea.

Speaker 4 (04:34):
Yes, it's like you can get this children's golf visor.
Thank you, you too. I will get the children's golf visor.
It's all you got.

Speaker 2 (04:46):
I'm just gonna put this around my one wood whenever
I play golf.

Speaker 4 (04:51):
That sounds wrong, No, that's a golf club Okay, yeah,
there you go. Not a nickname. Here's somebody says, hanging
on the porch, which feels like fall. That's awesome.

Speaker 2 (05:06):
I haven't. I didn't step outside, you know, is it fall?
Now it's September. We got we got potentially tropical storm
hurricane September going on. Yeah, yeah, they'll hear me. They
were they are doing their own thing and uh over
off the coast of Africa. But we'll see hopefully.

Speaker 4 (05:25):
Now I want ones like beetlejuice. If we say it
three times, it will come.

Speaker 2 (05:29):
Well, that's a terrible thoughts.

Speaker 4 (05:34):
It feels like it's been so quiet. I know. That's
that's all you get lulled in because it's you know,
it feels quiet in August and then September and October
come roaring around.

Speaker 2 (05:43):
We've had it before. We've had a years past where
nothing happens, and all of a sudden, you know, in
the middle of September, you get three or four within
the two week period. We don't But again, no beetlejuice,
or is that twice we've said it? Oh no, I'm
changing the topic. Welcome to the Home Loans Radio Show.

Speaker 4 (06:00):
Thinking about mortgages. So what's going on with mortgages?

Speaker 2 (06:03):
Well, I was wanted to. I was not done with
my debris, folks. Fritz Fritz goes to New York. But
the other show you saw, The Mulin Rouge. That's a
fantastic show. I saw that one a while ago though,
twenty nineteen.

Speaker 4 (06:17):
Somebody, Wow, it's been there a long time.

Speaker 2 (06:19):
Somebody big was starting in it recently.

Speaker 3 (06:20):
Yeah, Wayne Brady was Brady the hair is it Harry
Ziggler U huh yeah? And then the understudy was filling
in for him, but Tay Diggs was the Duke. Oh man,
it was great, Oh, really good.

Speaker 4 (06:38):
The Duke, the Duke, the Duke.

Speaker 2 (06:40):
The Great Duke. It's a great show. And I like
the way they kind of modernized the music a little bit.

Speaker 3 (06:46):
Yeah, they had really great modern songs that they kind
of subbed in and subbed out. Like there was one
time you know where uh, Setene is talking to homeboy
what's his name again?

Speaker 2 (06:58):
I forget.

Speaker 3 (07:00):
Not the Duke the American composer.

Speaker 4 (07:03):
Yeah, I know what you mean.

Speaker 2 (07:05):
But it'll come to me screaming right now.

Speaker 3 (07:08):
Probably she's talking to him and he's all nervous, you know,
fumbling over his his words, you know, and she goes,
shut up and dance with me, and then he goes,
it is my dest knee. She said, shut up and
dance with me, and it was like they go into
that number and it was just really cute. And then, uh,
the start of act two, they are choreographing, you know,

(07:31):
because they have to put on the show that the
Duke is now sponsoring, and uh, they're running through a
Lady Gaga number like as a as a hat nod
to you know her, and then they stop it. They go, uh,
you know, uh, choreo is all right, you know that's
that's okay, but can we go over these lyrics? Raw
rah lah lah.

Speaker 2 (07:53):
Ra.

Speaker 3 (07:54):
So there a topical, yeah, very topical.

Speaker 2 (07:57):
It's cool.

Speaker 3 (07:58):
They they they could pip it.

Speaker 2 (08:01):
That's that's a fun thing. When when I saw the
spectacular spectacular finale, like just glitter falling from the rafters
and not.

Speaker 4 (08:10):
Literally, I hope.

Speaker 3 (08:11):
Oh man, oh man, it made me teary eyed at
the end.

Speaker 2 (08:14):
That was quite a show. I saw it. But I said,
it's been a minute. Well, I'm glad you're back. I'm
glad you had a good time in New York. I'm glad,
you know, you didn't stay there singing in the subway
for for for tuppens.

Speaker 4 (08:27):
Right, do a little buskin?

Speaker 2 (08:29):
Right?

Speaker 4 (08:30):
Yeah, it was good.

Speaker 2 (08:31):
It was.

Speaker 3 (08:31):
It was the first time writing because we flew into
Newark to take the train over. It was the first
time writing the path system and New Jersey trains it
on the way back and it was nice, had nice
seats to sit in, and train whoever it was came
by and clicked the tickets. It was like, oh, okay,
riding the rails.

Speaker 2 (08:51):
You're like like in an old timey movie.

Speaker 3 (08:54):
Yeah, I was like in a cartoon.

Speaker 4 (08:56):
All the what tickets, tickets? All the tickets.

Speaker 2 (08:58):
There you go, a cigarette girl go through the sandwich
is sandwich cigarettes? Well, good, welcome back, Happy birthday to Darcy,
and welcome back to Florida. We're glad you're here. We're
glad this show wouldn't be happening at all if you were,

(09:20):
it would.

Speaker 3 (09:21):
Be happening in some capacity.

Speaker 4 (09:22):
I'm sure it wouldn't be happy.

Speaker 2 (09:25):
There you go. You are listening to the Home Loans
radio show. What's that you asked? Well, we are live,
the most talked about, the most listened to live show
right here on real radio on Saturday mornings, you can
text in your questions anything having to do with home loans,
real estate mortgage loans, business loans, SBA loans, all that
fine stuff. What else do we talk about here? MJ.

Speaker 4 (09:44):
Well, today is National Beach Day, Masha Beach Day, National
cabin Yon Cabernet Savignon Day, and also National White Shark Day.
So get yourself a glass of wine, go to the
beat and celebrate the sharks.

Speaker 3 (09:57):
Look at some sharkys.

Speaker 2 (09:59):
There you go, There you go.

Speaker 3 (10:00):
Christian is his name, by the way, Yes, yes, Christian Christian.

Speaker 2 (10:05):
Yes, well, there you go. Thanks for research.

Speaker 3 (10:09):
Chiming in on.

Speaker 2 (10:13):
Uh so national the other day I heard like Thursday
or Friday was National red Wine Day. Now they've barrowed
it down.

Speaker 4 (10:21):
Now it's down to the.

Speaker 2 (10:23):
Specific, specific varietals of grapes. Yeah, well I'm down. National
Beach Day sounds like, I guess we're in Florida, so
we're kind of spoiled. Like you can't you know, you
go one hundred miles either direction, you're going to run
into a beach. But uh, I guess if you're in
the middle of the country, National Beach Day might hold
some allure. Today is going to be crazy at the beach.

Speaker 4 (10:45):
A lot of the country doesn't have a beach.

Speaker 2 (10:47):
Yeah. I mean even in places that I've lived in,
there were nowhere near a beach. They had like a
lake or lake sand, yeah, or spring.

Speaker 4 (10:55):
Even in Chicago they have like a beach.

Speaker 2 (10:57):
They've got a massive beach in Chicago, one of the
biggest lakes in the in the world. There.

Speaker 4 (11:02):
Yeah, it feels pretty oceany.

Speaker 2 (11:04):
Yeah, but that water cold.

Speaker 4 (11:06):
I wouldn't know. Never tipped a toe in that water.

Speaker 2 (11:09):
There you go.

Speaker 4 (11:10):
Someone is celebrating Happy Jimmy Buffett Day, which technically it
seems was yesterday, but I'm sorry that I missed Jimmy
Buffett Day.

Speaker 2 (11:17):
Jimmy Buffett has a day.

Speaker 4 (11:19):
Yep.

Speaker 2 (11:19):
No, there you go. I guess that explains why they're
they're doing the Mountain Dora Jimmy Buffett parts. He there
that I heard a commercial about a little while ago.

Speaker 4 (11:28):
Yeah, that makes sense.

Speaker 2 (11:29):
There you go. What else you got?

Speaker 4 (11:35):
Someone says, if we say mortgage, mortgage, mortgage, does dawn appear?

Speaker 2 (11:38):
Oh, well, probably dry it out?

Speaker 4 (11:41):
See if that works.

Speaker 2 (11:42):
No, it doesn't. It doesn't make me appear, but it
does cause a facial twitch.

Speaker 4 (11:47):
Oh yeah, So what is I mean, I feel like
the FED is so in the news right now, like
everyone's talking about it. I know there's a whole thing
with it, someone getting fired and blah blah blah. But
how is that affecting race.

Speaker 2 (12:02):
Well, I mean, I don't know how any of it.
It's hard to say how that's affecting mortgag trades. What
we're seeing is that the tenure treasury bond has come
down over the last three four weeks. We're really close
to the lowest rates we've had in a year right now,
right here, right now. We had low rates for about
four days in April where they got down lower than
they are right now, but as of Friday, they're at

(12:26):
the lowest that they've been in a while. It has
to do with the projection primarily that the FED is
telegraphing and Chairman Powell, Chairman FED Chairman Powell has been
telegraphing through his speeches and so forth, that it may
be time, or it's probably time, or it's likely time
for the FED. The federal funds cut to happen September

(12:48):
seventeenth at that meeting, and it's it's likely that it will,
but normally that doesn't automatically affect mortgage rates. It lowers
the prime rate, which is a rate that you know,
entities within the country can borrow federal funds, that companies,
corporations can borrow federal funds from the government, and so forth.
So when that comes down, it can kind of stimulate
activity in businesses, which affects mortgage backed securities in a way.

(13:13):
When the treasury bonds move. It's like a whole daisy
chain of events that have to happen to make mortgage
rates go down. But what we're seeing right now, according
to the economists that I follow about it, that it's
coming down because the anticipation that it's going to come down,
that the federal funds rate is going to come down.
So we'll see if that holds. You're listening to the

(13:34):
Home Loans radio show with that mortgage guide on one
segment in the books already We're going to be right
back after these messages. Hey, hey, hey, it's that mortgage guide.
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(13:55):
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(14:39):
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Speaker 3 (14:44):
Hey, this is Devor Roberts from the Jim Culbert Show.

Speaker 2 (14:46):
ND.

Speaker 4 (14:47):
You're listening to Home Loans.

Speaker 3 (14:48):
Radio on Real Radio. Now back to the show with
that mortgage guy.

Speaker 2 (14:53):
Don.

Speaker 4 (14:54):
Hey, hey, you're listening to Home Loans Radio where we're
talking about mortgages. It's better than it sounds. We talk
about other stuff too.

Speaker 2 (15:02):
Welcome Wait to sell it, m JA Yeah.

Speaker 4 (15:08):
I think if you undersell then people are like, oh,
it's better than I thought.

Speaker 2 (15:13):
It's called the old ere approach.

Speaker 3 (15:21):
Yeah, it's not that bad.

Speaker 4 (15:24):
No, it's fantastic.

Speaker 3 (15:25):
No, I mean like that's our motto.

Speaker 4 (15:27):
Yeah, right, it's not that bad. I made this. I'm
not sure it turned out great. I hope you like it.

Speaker 2 (15:33):
Wait, I eagerly await your opinion. Welcome back to the
Hold Loans Radio show with that mortgage Guide Don. That's right,
that's me. We're here, we're doing it. We're live this
Labor Day weekend. That's right. You're welcome. Text into seven
seven zero three to one and tell us what you're
doing out there. You got a mortgage question, you buying
a house, selling a house, and hearing a house, you're
starting a business, any of those things. You want to

(15:54):
check in and ask your question. Well, you're in luck.
I'm an expert and I can answer your question right
here air. But you can also just text in any
random question and we'll see if we know the answer.
It's hard to stump this panel.

Speaker 4 (16:07):
I mean, it's cool if it's MORTGAGEE, but you know,
if it's not MORTGAGEE, you know, we'll give it a whirl.
Somebody said, aren't most people close to a coast? And
I think the people on the edges are sure, But
then there's that whole middle of America that is like
not so much.

Speaker 2 (16:23):
Well, yeah, most people in Florida are close to a coast.

Speaker 4 (16:27):
Yeah, for sure.

Speaker 2 (16:27):
We're lucky we got the ocean within it.

Speaker 4 (16:30):
We're only a little bit from a coast, no matter
where you are. I bought my house fourteen months ago,
and I have a rate of seven point seventy five
eight hundred scores. What rate do you think I could
get on a refinance for thirty or fifteen year loan?
How much would that say per month on a thirty
year loan? And the loan size is about.

Speaker 2 (16:47):
Four four hundred thousand if they so? Right now, we're
seeing rates I guess I mentioned a little while ago.
We're seeing rates the lowest we've seen. There was one
other time where they were lower this year, but that
was only for like a blip for like five days
back in April. So right now we're back down the
lowest rates. We're seeing a ton of people doing refinancing,
and I've been I've been saying, if you've got a
seven in front of your rate or a high six,

(17:09):
you should definitely be considering it. Depending on the loan size.
They said, they're what's seven point seventy five?

Speaker 4 (17:15):
They said, there's seven point seventy five.

Speaker 2 (17:17):
Yeah, you can probably. It depends on your loan to value,
meaning how much you put down on the house, because
the more the loan to value. I mean, let's say
you owe let's how you have a I don't know,
four hundred thousand dollars house and you owe two hundred Well,
that's fifty percent loan to value. You you you owe
half of what your property is worth. So you're gonna
get a much lower interest rate if you have a

(17:39):
low loan to value than if you have eighty or
eighty five or ninety percent owed on your property. So
it depends on the loan to value to a large degree,
Like every five percent is different. If you do an
eighty percent loan and then look at a seventy five
percent loan, the rates will be like a quarter point lower.
If you look at a sixty five percent loan, they'll
be even lower than that. So if it depends on that,

(18:01):
but on if you get down, if you're at seven
point seventy five and you get down to six and
a half, six in a quarter, something like that was
absolutely achievable right now. In some cases we're with really
loaned you know, well qualified people. We're seeing rates in
the fives right now, So getting down a point to
a point and a half is normally the goal. And
I would say you could save three four hundred dollars

(18:21):
a month depending on a couple of factors. But yeah,
it's definitely a good time. Thanks for texting that into
seven seven zero three one. Did I answer all the
parts of the UH?

Speaker 4 (18:30):
I think you did the question which fifteen year rates
fast fifteen years? Well, if they did a fifteen year loan,
fifteen year.

Speaker 2 (18:36):
Rates are definitely in the fives for most people right
now that are that are you know, have a good
credit score in the in the sevens, you should be
able to get down into the fives on a fifteen
year loan, So definitely the time to start thinking about that.
Are they going to get lower That's the other question
that that that I get asked all the time. Should
I wait? And you know, are they going to get lower?
All the indicators right now seem to say that in

(18:59):
all the predictions say that they're they're gonna stay right
around where they are right now, somewhere between the six
and a quarter to six and a half range for
the remainder of the year. So we'll kind of see,
oh wow, where that goes. But there's new things popping
up all the time. You know, there's questions about the tariffs,
so you know whether they can continue. All kinds of
stuff coming up that can affect rates in the future,

(19:21):
So stay tuned. They could go back up again. You
never know.

Speaker 4 (19:23):
Here's someone who says, I'm looking to do a hee
lock to do some loan renovations.

Speaker 2 (19:27):
It's all caps, all caps, all right, we've.

Speaker 4 (19:30):
Windows, et cetera. How do I go about getting the
process started?

Speaker 2 (19:33):
Maybe they're not shouting, Maybe they accidentally hit the caps
lock button.

Speaker 4 (19:36):
Can you briefly describe the process they went back to
the small letters.

Speaker 2 (19:42):
That's the most annoying thing for me when I'm typing something,
you know, and you realize the accident because I'm not
one of those people that can just look at you know,
not look at the keyboard at all. I have to
kind of look at that both. You know, I type
fairly fast, but I have to look back and forth.
And then you're looking at the keyboard, looking at your
notes or whatever, and then you company you've typed a
half a paragraph in.

Speaker 4 (20:01):
All caps, yelling at people.

Speaker 2 (20:03):
There should be an automatic thing. Maybe someone's going to
tell me there is. There should be a way you
can highlight it and just like say, make it right,
like switch those out right.

Speaker 3 (20:12):
I thought I knew how to do that. I guess
I don't really. I had something to do with four.

Speaker 2 (20:18):
Oh okay, oh maybe there is a thing for that. Yeah,
if so, text into seven seven and improve Don's life.

Speaker 4 (20:26):
Anyway, this person is very excited.

Speaker 2 (20:29):
Oh yeah, what was the question.

Speaker 4 (20:30):
Yeah, they're looking to do a hack to do some
home renovations roof and windows. How do they go about
getting the process started? Can you describe the process?

Speaker 2 (20:39):
Sure? Yeah, it's we try and make it pretty simple,
pretty painless. You go to the website that mortgage guide Don.
You can get there through the internet and you can
also go to Instagram at that mortgage Guide don and
you can get to the website there and you just
go to the refinding inside you apply and you just
put in your basic information and then Laura or Helock
Genius will come back and get you two or three

(21:01):
different quotes. We have over a dozen options. So once
we find out what kind of draw term you want,
you know, whether you want a three year draw or
a five year drawer or a ten year draw or
you don't want any draws, you just want to do
a one time second mortgage and then pay it back
over twenty years or twenty five or thirty. You know,
will kind of narrow down all those options, and then
we'll provide you those numbers, how much it costs, what

(21:21):
the closing costs are, what the rate is, and if
you like it, then we go forward.

Speaker 4 (21:25):
It's all F four.

Speaker 2 (21:26):
It's you're kidding me. Nope, people are saying, I got
to test this theory. So you type a bunch of
stuff in caps and then you highlight it and hit
all F four and it'll fix it.

Speaker 4 (21:36):
That's what That's what the people say.

Speaker 2 (21:37):
Don't be don't be pulling my leg and this is
this is a problem I've been dealing with for years.
But I digress on the helock. The question was how
do you get started process? And just describe the process.
So you go to the website and you hit apply.
Now on the refinance side, we'll note that it's a helock,
you know. Once we start working on it, and then

(21:59):
we'll give you a quote. If you like it, you
move forward, You provide some documents. Two three weeks later,
you close, you get your money, you take your first draw.
Minimum first draw that we can do is fifty thousand dollars,
so we're not able to do some of the You know,
some people are looking for small home equity lines like
five thousand or ten thousand. That's not I don't know
very many banks at all that are willing to do
those right now. Typically, all of the ones that we have,

(22:21):
which is over a dozen, they all have a minimum
of fifty thousand, so and you need to have a
credit score of at least six forty and then bing
bang boom, you're going to get a rate somewhere in
a range I'm seeing from five percent to ten percent
right now, depending on the type of loan, your credit scores,
how much of the equity you're taking out, how big
the loan is factors like that. Great question though, did

(22:44):
I leave anything out? Mjay?

Speaker 4 (22:45):
I don't think so.

Speaker 2 (22:47):
Thanks for texting your question into seven seven zero three
to one.

Speaker 4 (22:52):
Someone asking you about Hometown Heroes.

Speaker 2 (22:53):
How's that going Hometown Heroes. Yeah, it's definitely in full effect.
It came back a couple of weeks ago, not even
two full weeks ago, August eighteenth, and we're doing quite
a few of those. That's a that's a down payment
assistance a program from the state of Florida that is
in effect right now. And it's Hometown Heroes because you
have to have a certain profession in order to qualify

(23:15):
for it. But it's a pretty big net. It's anybody
who's a military veteran with a with a discharge other
than dishonorable. Anybody who's a first responder, who works in
law enforcement, who works in the medical field. Medical field
means if you work in a hospital, if you work
in a doctor's office, you work in any sort of lab.
You know, there's all it's a very very wide list

(23:37):
of occupations. There's educational, if you work in a school
of any sort, if you work in the administration, if
you work if you're a janitor in a school, you know,
any any job at a school, if you're the if
you're the pe coach, you can potentially qualify for the
Hometown Heroes program. You need a six sixty credit score

(23:57):
and you have to be you know, full time ointment
here in the state of Florida. What do you get, Well,
you can get up to thirty five thousand dollars from
this program towards your down payment and closing costs. It's
realistically it's five percent of the purchase price, so and
it goes up to seven hundred thousand in purchase power.
So great program in place. Still plenty of funds available,

(24:19):
and all you have to do to find out if
you're eligible or for any of our down payment assistance
programs is to go to that Mortgage Guide don and
apply for pre approval. As soon as we see that
you're a first time home buyer, we're going to then
look at all of the first all the down payment
assistants and first time homepire perks and additional benefits that
we can get for you, and then we'll let you know, Hey,

(24:41):
you qualify for this one, you qualify for that one.
Here's what your house payment would look like at this
price of house, you know, and then you go from
there you decide if you're ready to start looking for
a house or not. All of that with no cost,
no hassle, no hard credit pool, no ding to your credit.
We do a soft credit pool on all of our
pre approvals and all of our helock and refinance quotes.
So if you want us to get you a quote,

(25:02):
we're gonna be able to get your real one because
we're going to do a soft credit repoord. But you're
not going to get dinged and you're not going to
get hit on your score just to take a look
at a quote. You're listening to the Home Loans Radio
show with that Mortgage Guide Don. We're going to be
right back after these messages.

Speaker 3 (25:17):
Hey, this is Ryan from the Monsters, and now back
to that Mortgage Guide done on Real Radio, the only
live Saturday morning show on Real Radio one to four
point one where you can text in and ask a question.
Do that mortgage Guide Don if you need help buying
a house, selling a house, refinance and you name it
texted into seven seven zero three to one. You can

(25:38):
also follow him on Instagram at that Mortgage Guy.

Speaker 2 (25:41):
Done here you go. Welcome back, Welcome back to the show.
I'm here with my Kru. Good morning, Mjay friends, doing
our thing this morning. U. What's cooking out there? MJ?

Speaker 3 (25:52):
Well, it's Labor Day weekend, that's right, it is labor.

Speaker 4 (25:55):
A lot of people doing stuff in the world.

Speaker 2 (25:57):
A lot of people off on Monday, of people not
off on Monday. I guess it depends on what kind
of kind of work can you do. It's like today,
you know, like Saturday. A lot of people work on Saturday.

Speaker 4 (26:07):
A lot of people do. Yeah, if you're working today,
tell me what you're doing out there.

Speaker 2 (26:10):
And losent and.

Speaker 3 (26:14):
Thank you guys.

Speaker 2 (26:19):
That's funny. I got some other mortgage news.

Speaker 4 (26:22):
Oh yay.

Speaker 2 (26:26):
Did you hear that? Joy? Did you hear that Joy?
Fritz and and Mjay's voice there?

Speaker 3 (26:31):
It was unmistakable legitimate.

Speaker 2 (26:35):
Oh I wanted to bring I've talked about this many times.
You know this thing. If you've ever applied for a mortgage,
you know this pain of when you apply for whatever reason.
It's not for whatever reason, but for most consumers it's
whatever reason. But what happens is that when you apply
and you get a hard credit report pulled that you
get bombarded with telemarketers for like twenty four to forty

(26:57):
eight hours afterwards when you're doing a mortgage and the
reason for that has been and this has been going
on to my knowledge since like two thousand and eight,
that Equifax experience. TransUnion, we're selling leads, I'm doing air quotes,
leads of people looking for mortgages. Anytime you did a
mortgage credit poll and you hadn't opted out of the

(27:17):
you know, the system, which you can do online, by
the way, if you hadn't, if you hadn't opted out
of it, then you would get your The fact that
you had done a mortgage credit poll would get sold
to all these companies and you could get hundreds, if dozens,
if not hundreds of telemarketers calling you saying, hey, I've
got a better mortgage rade, and your you know, your
phone just blows up for two days. A lot of

(27:40):
it turns out to be a big, huge telemarketing groups
and bait and switch type tactics. And it's not not that,
not that all of them are, but a lot of
them are are sold to big, huge conglomerates that just
telemarket from from India or from wherever. Uh And for
years they've been trying to get legislation passed. These leads,

(28:00):
they are called trigger leads, so when you do a
credit report, it triggers this. The Equifax experience to sell
all these and put them out on the market and
then people buy them and it triggers them to call you.
So the good news was a few weeks ago, it
was passed by both the Senate and the Congress and
it was officially landed on the President's desk as of
August twenty fifth, twenty twenty five, and according to the Constitution,

(28:26):
it has ten days to act on that bill, on
that law and sign it into law or not. Hopefully.
It was really a lot of times when you put
a bill together, it has a lot of junk in it,
a lot of extra stuff, a lot of what they
call it pork for this state or that naval base
or this whatever. This bill was solely about protecting the consumer.

(28:46):
It's a very clean bill. So I'm hoping that in
ten days around September fifth and that should get passed,
although they do say it could take up to six
months to implement it, but help is on the way
for that. If you've ever experienced that pain, so hopefully,
hopefully it gets signed. I don't see any reason why
it wouldn't. But I'll but stay tuned here. I'll tell
you when it does.

Speaker 4 (29:06):
You could be surprised.

Speaker 2 (29:07):
Yeah, well I'm always I always leave that option open,
yea being surprised.

Speaker 4 (29:12):
Someone says, I pay twenty three hundred dollars a month
in rent. I have no down payment, my credit score
is great. Any any chance for me?

Speaker 2 (29:21):
Well, you know there are some down payment assistance programs
that are available. The one I mentioned earlier is a
Hometown Heroes program. I guess that one is dependent on
your profession. If you want to find out all of
the professions that it allows. This is a down payment
assistance program that gets you up to thirty five thousand dollars.

Speaker 4 (29:37):
That would do it, wouldn't it.

Speaker 2 (29:38):
Yeah, well, it depends on the size of the house,
but even on like a three hundred thousand dollars house,
it can get you fifteen thousand dollars. And you know
you need a three percent down payment to get into
a house. You also can get a gift from a
family member. You can take money out of your your
four to one K to use as your down payment.
A lot of people don't realize that, Fritz. That's how
you bought your your first house was using the down

(30:01):
utilizing down payment money from your your four to one k. Correct,
that is correct. And uh, people, if you want to
find tell people how you found out about what you
could use of your four o one k for a
down payment.

Speaker 3 (30:12):
Well, you can take out money from your four one
k for three things, one of them being to buy
a house. So we use that and uh it's not taxed,
so that was another plus. And uh, then the money
we had left over we put into things like buying
you know, lamps and furniture and things we needed.

Speaker 2 (30:30):
For the house. Lamps are super important.

Speaker 3 (30:33):
Oh yeah, you got to see what you're doing. You're
just breaking more stuff around your house.

Speaker 4 (30:36):
And the candles are like so smoky and they burn
things down.

Speaker 2 (30:40):
That's what you find though.

Speaker 3 (30:41):
The smokiest candles so smoky.

Speaker 2 (30:45):
You're not supposed to make them out of old shrimp piels.
What I don't know where that came from.

Speaker 4 (30:51):
Can you make a candle out of shrimp piels?

Speaker 2 (30:53):
If you do it, it'll be so smoky.

Speaker 3 (30:55):
Shrimp carapace, Or.

Speaker 2 (31:00):
Just hold a lighter under a can of anchovies and
see what happens now you find out when you move
out of your one bedroom apartment uh into a house
that does multiple rooms, all of a sudden, you're super
short on.

Speaker 4 (31:11):
Lamps, right, yeah, lamps lamps matter.

Speaker 2 (31:14):
I always tell people like, what are you what are
you going to so you got to save some money
for the stuff you need when you buy a house.
They're like like, what, like just wait, like a lawnmower,
like curtains. You know, you look.

Speaker 4 (31:24):
Around and you're like, I've got to do something about
these windows. Hey, neighbor, not only is the sun shining
right on my face, but there you go. All my
neighbors are saying, hey, now just.

Speaker 2 (31:36):
Close your curtains, MJ. And that won't happen.

Speaker 4 (31:38):
You don't. Here's someone who's outspraying lawns and making them healthy.

Speaker 2 (31:42):
There you go, well done.

Speaker 4 (31:44):
Do you have to hear someone asking do you have
to have homeowner's insurance to get a heelock?

Speaker 2 (31:50):
That's a great question, But I forgot I was on
a different tangent. I was going to tell people that
if you want to find out all of the professions
that are available that the last textor I was going
to tell you want to find out which professions are
available for Hometown Heroes. You can go to my Instagram
at that mortgage guy. Don follow give me a follow
while you're there. But you can also go into the
link tree and you'll see a thing that says available

(32:10):
professions for the Hometown Heroes Grant program. You can click
on that and take a look at them yourself. There
are hundreds.

Speaker 4 (32:16):
So do you have to have homeowners insurance to get
a home equity line of credit?

Speaker 2 (32:20):
You have to have homeowners insurance to take out a
loan against your your properties?

Speaker 4 (32:25):
This makes sense, right, Yeah?

Speaker 2 (32:26):
I mean someone's not going to give you fifty grand
or one hundred grand with the property as collateral.

Speaker 4 (32:31):
And then a hurricane.

Speaker 2 (32:33):
Yeah, if the fire burns your house to the ground,
and you know, then you're like, you have no insurance,
You're gonna I'm not going to pay my hee lock anymore.
I don't even have a house. I'm sleeping on a
pile of ashes, you know, So no, they wait a
pan picture, Yeah, there you go. You got to have insurance.
If you're borrowing against collateral, that collateral has to be
insured so that if something bad happens you in the bank,

(32:56):
don't lose your shirts, so to speak.

Speaker 4 (32:58):
All right, here's somebody named coot is doing karaoke at
a resort this evening.

Speaker 2 (33:03):
Coach was if it's the same person. Coach was in
the Monsters Sing. There was a singing competition they had
on Thursday, and I believe he was one of the participants.
So that that I heard. I heard him saying sound.

Speaker 4 (33:18):
Free during good Wow, that's awesome, well done.

Speaker 2 (33:21):
It's thanks for texting into seven seven is use.

Speaker 4 (33:23):
Some karaoke at your own karaoke? Oh maybe you're doing karaoke.
I get it now. I was thinking that you were
having your the host. Maybe.

Speaker 2 (33:33):
It's always fun to see the flow chart of MJ's process.

Speaker 4 (33:38):
We've done here and we end up over here.

Speaker 3 (33:41):
It's always inspiring.

Speaker 4 (33:44):
We have to take a few turns and go up
and under, but then we get there.

Speaker 2 (33:48):
Circuits, active engines go.

Speaker 4 (33:52):
M reporting what it says, taking daughter fishing tomorrow. I
have to clean my house today so she doesn't think
I live in Squalor.

Speaker 2 (34:00):
Well, that sounds like an excellent plan all the way.

Speaker 4 (34:02):
Do you think that's a good plan? But also, you know,
be real to your kid.

Speaker 2 (34:06):
Well, you know, you don't want people thinking you live
in squalid.

Speaker 4 (34:09):
I mean, but also you know, pick up those cat
food kansas all the way along the way.

Speaker 2 (34:15):
Oh you're saying like get up, make your bed every
day kind of philosophy.

Speaker 4 (34:19):
But no, I I appreciate you. Good job, good job.

Speaker 2 (34:23):
I am for sure the person who's cleaning up my
house when I have company. I am not out of
those people who's like, come on over with come on
in now.

Speaker 4 (34:31):
I always say that the sound the smell of all
my parties is candle light and fresh paint.

Speaker 2 (34:37):
Because I've always looked around and go, turn down these eyes.

Speaker 4 (34:42):
I'm gonna need to turn down these lights and I'm
gonna need to paint some stuff.

Speaker 2 (34:46):
What's that smell? Can?

Speaker 4 (34:50):
Yeah, candle light is your is your friend. I recommend
that to you when your daughter comes over, turn the
lights down. It's a big help. Yes, try not tap
people over at high noon. I know you're going fishing,
but maybe after the fishing come over, you know. On
the Porch's Advice Entertaining Tips by MJ. Jake Campbell, light

(35:13):
is your friend.

Speaker 2 (35:14):
I think we got a new segment here, Fritz. You know, like, oh,
a different version than the Martha Stewart version. Entertaining the
opposite version.

Speaker 4 (35:24):
Okay, first you get a big box and you go
through your house and you throw all the things in
the box. It should not be where they are, and
you put that box somewhere where you will forget about
it for about six months, and then you will be
looking at all six months for all of those things.

Speaker 2 (35:37):
And then you go back. He you're like phone charger, and.

Speaker 4 (35:39):
Then you get you don't find that box. It's like,
oh my gosh, those socks I love, and like all
the things that you rounded up.

Speaker 2 (35:47):
And then you're like, why did I have eight phone chargers?
This happens to me every time I have company.

Speaker 4 (35:52):
Here's someone who's serving papers today. No one's home though,
Hey can I check my credit score without getting marted
by telemar marketers?

Speaker 2 (36:00):
Tell a marcher's that's hilarious. That's a whole nother visual picture.

Speaker 4 (36:07):
I can't do it anymore.

Speaker 2 (36:10):
You can you get your score checked? I mean a
lot of there are facilities out there, like you know,
credit karma, and you know a lot of the credit
cards will tell you what your credit score is. But
those aren't going to be the same scores we get
on a mortgage credit poll. When it's a different it's
a different FIGHTO score when you're doing a mortgage credit poll.
It's a different FIGHTO score when you're buying a car,
when you're doing a car loan. So you you know,

(36:30):
just because you get a seven to forty credit score
when you're going to buy a car doesn't mean it'll
be the same for a revolving credit or for for
buying a house. But you can you can get a
free annual credit report online, but that one doesn't tell
you your score unless you pay for it. So it's really
the only way to get your score is through one

(36:51):
of those entities, if you want to do it for free,
or if you go and apply for pre approval and
a loan, then I'll do a soft credit poll and
I can tell you what it is through that process.
You're listening to the Home Loans Radio show with that
mortgage guy down. We'll be right back after these messages.

Speaker 4 (37:04):
Hey, it's Sabrina from the news Junkie. Do you have
a question for that mortgage guy down?

Speaker 3 (37:08):
Text him at seven seven zero three one.

Speaker 2 (37:10):
No.

Speaker 3 (37:10):
Back to Home Loans Radio on real Radio.

Speaker 4 (37:16):
Hey, Hey, listening to Homelands Radio with that mortgage guy Done?
The nice, lovely voice of Sabrina Ambra. I was very
sad to miss her show last Saturday. I'm sure it
was amazing.

Speaker 2 (37:27):
I heard it was through the roof.

Speaker 4 (37:29):
Really, that's awesome.

Speaker 2 (37:31):
The people I have talked to you said it was
so funny, such a great show.

Speaker 4 (37:33):
I'm so bummed to miss it. I absolutely couldn't be there,
but I really wished I could. Mounta Door's got all
kind of stuff going on.

Speaker 2 (37:41):
They're working on it. I know they're focused on it.
Chris over there, the city manager, Deb Robert's significant other,
as they've talked about on air many times, he's bringing
cool stuff to mounta Dora.

Speaker 4 (37:53):
Good job, very very good.

Speaker 2 (37:55):
And you know what I like about Mount Dora Now,
it used to take me like an hour and a
half to get your out of on the east side
of you know, UCF side of town and h before
the expressway. It used to take a long time to
get there. But now it's like, I don't know, thirty
one minutes to get there. Boom boom you get I
can get the Mountain Door faster than I you can

(38:15):
get to Disney.

Speaker 4 (38:16):
Oh wow, crazy, well Disney so hard though, when you
get out towards Disney Vin here.

Speaker 2 (38:21):
Speaking of speaking, which did you see this news story
like a week ago where there were a lot of
people who right around the time of the evening fireworks show,
you know, the Spectacular Laser whatever they do, saw an object,
they said, hovering over Spaceship Earth, a bright light in
the sky, which a lot of people think was a UFO.

(38:44):
A lot of photos, a lot of videos of it. Wow,
And it was there for a few minutes, just to
stationary and then then took off.

Speaker 4 (38:50):
That's right, Yeah, you can that like the top of everything.

Speaker 2 (38:55):
Google it, Google epcot, UFO or what do they call them,
not not UFO's UAPs, Google epcot or Disney UAP and
you can see a video of it. The videos are
a bright light in the sky. You can't really you know,
there's not a lot of detail. But I don't know.
People are talking that this was reported, well, this was

(39:15):
reported in the New York Post, among other places, but
New York Post, it says a video of the sighting
posted on the show's official website. There's a guy named
Husselman observed a light in the sky and posted it,
but a lot of other people did as well, and
the city officials, local officials state NASA. They also, we
have a lot of rocket launches. Could be something about that.

Speaker 3 (39:36):
No, it's not a rocket launch. It seems we know
rocket launches.

Speaker 4 (39:40):
Come on, we see them all the time. Yeah, they
go up, you can go up. They start here, they
go up.

Speaker 2 (39:47):
Well sometimes they go off to the you know, the side,
but they don't hang out in this guy not above spaceship.

Speaker 4 (39:52):
But we're moving.

Speaker 3 (39:53):
No, this thing is. It's stationary.

Speaker 2 (39:56):
Yeah, it just stays in one spot and then it disappears. Now,
something could appear to do that if it was moving
directly away from you, you know, like a okay, a
rocket or something, or maybe it's a UAP.

Speaker 3 (40:08):
I don't know, no, because it dims and then it
gets brighter.

Speaker 2 (40:11):
Yeah. No, there you go.

Speaker 3 (40:14):
Wow, they've been lying about you, everybody, by the way,
for almost one hundred years now. So just keep that
in mind, right, Keep that in mind. Keep that in mind,
is all I'm saying. Ever since nineteen forty seven.

Speaker 4 (40:25):
Yes, and I always remember Senator Harry Reid, who when
he retired from the Senate, went out publicly and said
UFOs are real.

Speaker 3 (40:32):
And then all of the New Jersey sightings from just
a year ago. No explanations, thank you?

Speaker 2 (40:40):
Oh gone, Yes, I know you've covered this in depth
for your Fort Fritz show in the past. Well, and
you're you're a wealth of expertise. But here's a new
one to add to your to your sightings.

Speaker 4 (40:52):
And it makes sense that people would want to check
out disney World, I mean Aliens or wherever. You know,
it's Disney World.

Speaker 3 (40:58):
It's the happiest place on Earth. You can't thinking, right
people place on Earth.

Speaker 4 (41:03):
Let me let's go there, you know.

Speaker 2 (41:05):
I mean, if you're going to go to Epcot, definitely
during the Food and Wine Festival, is sure.

Speaker 4 (41:11):
And avoid the lines, you know.

Speaker 2 (41:13):
Drop it, drop up, drop in by teleporter.

Speaker 4 (41:16):
Yeah, just drop in from a bus.

Speaker 2 (41:18):
It's probably what happened.

Speaker 4 (41:18):
They're probably just enjoying the Laser Show.

Speaker 2 (41:21):
They beamed inside of Spaceship Earth and said not a
threat and they left.

Speaker 4 (41:24):
They're probably there all the time. What in the Laser
Show they just got, you know, noticed o fun. Yeah,
that's fine, right, they're just in there.

Speaker 2 (41:30):
It's actually you're you're you're speculating that the Laser Show
is run by Aliens.

Speaker 4 (41:36):
No, I'm speculating that the Laser Show might be infiltrated
by aliens. They might just be hanging out in there going, oh,
I love this show.

Speaker 2 (41:42):
Seems like a good start to like a War of
the World's movie. You know, people are watching a laser
show and then Spaceship Earth explodes.

Speaker 4 (41:49):
That don't don't put that out in the world. That
sounds terrible.

Speaker 2 (41:53):
I mean, the alien's going to do what alien's going
to do. We don't have any control over it.

Speaker 4 (41:57):
Coach says, yes, that was Cooch.

Speaker 2 (41:59):
There you go, thanks for texting in the show and
check it out.

Speaker 4 (42:04):
And uh, someone is asking, can you please describe how
a VA assumable mortgage works. I have cash to pay
the difference remaining balanced besides what is owed on the house.

Speaker 2 (42:14):
Assumable loans are are a difficult thing to process because
so a VA loan is not held or or serviced
by the Veterans Administration in any way. They're they're you know,
the loans are securitized in other ways by banks or
servicers that own the rights to collect the payments and

(42:34):
the interest on those. The only thing that's VA about
it is that the underwriting, which means you have to
go by VA rules and the fact that if it
gets foreclosed on twenty five percent of the the you know,
the loan amount is covered and securitized by VA, So
that's that's really the difference.

Speaker 4 (42:53):
So can you assume how do you assume that?

Speaker 2 (42:55):
So some of them, a lot of them are assumable.
What that means, though, is that you would have to
go to the current servicer and get approved through them
to qualify to take over that loan, and you'd have
to have the cash to make up the difference. Like
if it's a four hundred thousand dollars purchase and they
owe two hundred thousand on an assumable VA, and you
can talk to that VA servicer and get them to

(43:17):
let you assume it, then you'd have to come up
with the balance of that in cash. I've seen a
lot of people try to get assumable VA loans. I
have not heard of success story yet. If you are one,
text me at seven seven zero three one, tell me
about it. I'd love to talk to you about it more.
But all of the ones that I've seen, it's just
it's too clunky of a process to try and get
the servicer to do that, and most servicers don't have

(43:40):
a facility in place for doing that. It only it
only assumable loans are only desirable at certain places in
the market when rates are you know, we're very low,
and then they go up high as you So when
you leave a trough and then you go into a
higher rate scenario, that's when they are a lot of
desire or interest in assumable loan to keep those two

(44:00):
percent from a few years ago. But none of the
lenders or the servicers rather have a facility in place
that I know to make that process work. So it's
very difficult to do, and it's not something that you
need my help with. Is something that you do directly.
And the problem is you're under contract to purchase during
that time. You got thirty days to close, so it's
kind of a thing you gotta it's got to happen

(44:21):
quick or it doesn't work at all. Great question. Thanks
for texting that into seven seven zero three one. You
are indeed listening to the Home Loans radio show with
that mortgage guide Don m. Jan Fritz. We're gonna be
We're gonna take a quick break. We'll be right back
at the top of the hour. Hey hey, hey, hey,

(45:10):
hey hey, Welcome back to the Home Loans radio show
with that mortgage guy done. I'm here with my crew, MJ.
Good morning, Good morning, mister Fritz. Oh hello hello. That
is one of my favorite Florida slang songs. Florida slang right, yep.
I mean you got so many bands and so many
albums I have I need a catalog card to catalog

(45:33):
cards to keep them straight because you're such a prolific musician.
That one's called heartbeat.

Speaker 3 (45:39):
That is correct.

Speaker 2 (45:40):
Yes, I've told this story before, but one time we
had a celebration. I had a celebration of life for
someone who had just passed at my house and the
music that was playing they had requested, like you know,
they wanted Hank Williams and some country songs. And everybody
was sitting around sad, and everybody had told their stories
and it was just kind of a lull, and I
put that song on Fritz and it just lifted the mood.

(46:01):
Everybody was like, well, that's good. Now we can, you know,
move on with our day. And it just changed the
whole trajectory and everybody who had been really sad was
now uplifted and feeling happy after hearing that song.

Speaker 3 (46:11):
So it was my pleasure.

Speaker 2 (46:13):
That's my story. I'm sticking to it. You can find
Fritz's music anywhere you find music Spotify. Look for Florida
Slang Chorus Incorporated the Real Fritz for some of his
solo work, and follow him on Instagram at no underscore
regrets Underscore Coyota.

Speaker 4 (46:30):
Here's what it says. We're planning to list our house
next spring and rebuying the same area. They're moving beachside
or getting a pool in the mainland. One of us
has good credit seven hundred and a higher income, while
the other has not as good credit but close and
two thirds of the income of the other. So one's
got more and one's got less. The second person has
a crap ton of credit card debt. Should they focus

(46:51):
on paying down the debt of the second and hopefully
raise their score using their income in the mortgage, or
pay down the credit card debt at the first spouse
who just moved all their to a new account at
zero percent for fifteen months. Would you recommend a different plan?
I think you need some information.

Speaker 2 (47:07):
Yeah, I think I would. I think both of those
may be good plans, but there's ways to find out
which one is the better plan. So I would recommend
a different plan, which would be to start your pre approval.
It's it doesn't cost anything and it doesn't hurt you.
What did I say? It's free and easy. You can
go and do a pre approval application where there's no

(47:27):
cost tame.

Speaker 4 (47:27):
Even though they're thinking about this next spring. Yeah, so
helpful to do that now.

Speaker 2 (47:32):
Because it takes time to get a credit score up.
Sometimes if we need to work on it, it can
take time to pay things down or off. But you
want to do that in a targeted way to improve
your score. We've got so you can go to the
website and start the pre approval process and you just
kind of let me know, Hey, I'm looking next year,
I'm looking in spring, but I want to see we're
kind of trying to be smart about this now and

(47:53):
you know, shape what we're what we're doing so that
we have the maximum benefit. Spring's only six seven months away,
you know, we're we're in what September here tomorrow or
the day after, what's today? I don't even know what
today is, August thirtieth. Yeah, So anyway, you start with
the pre approval and part of what we do is
is a credit a soft credit pull, so there's no
ding to your credit, but I can look at everything

(48:14):
and see how it goes. You may be able to
qualify with just the incoming credit of one of the borrowers,
the one with the higher score. Right now, there's also
a tool that we have with our credit bureaus where
we can it's called a what if simulator where we
look at your credit report and I can say, okay,
what if we pay off this credit card? What does
it do to your score? So I don't have to guess,
You don't have to guess. I can actually tell you
based on these These credit simulators are from Equifax, you know, Experience,

(48:39):
and TransUnion, so they're the actual credit bureaus. Is not
you know, a credit repair company telling you what to do.
It's it's a report from the actual bureaus. It costs
me money, but I do it for the people that
are my pre approval clients, and that will tell you, hey,
pay this one down. So what we do on that
and we tell it what do we want to score
to be? We say what do we need to do
in six months to get score up to seven forty?

(49:01):
And it'll say, okay, pay this one down to three hundred,
pay this one down to half of its balance, leave
this one alone. Don't pay for that old collection. It's
too old. It's not going to help you with your score,
and so on. So I can give you an actual
targeted attack or plan or prescription if you will, of
how to approach this and the best way to get
you the you know, the optimal interest rate and the

(49:24):
optimal down payment when it comes time. Great question, Thanks
for texting that into seven seven zero three one. So
the answer is, do a different plan, Go and do
a preapproval application. Let me have, you know, talk with
a loan officer, and then we'll get you situated and
then you work on it and get it. You may
be ready right now, you don't know. A lot of
people don't think they are, but they are, and we can.

(49:44):
If not, we'll tell you the steps to get ready
and be where you want to be.

Speaker 4 (49:47):
Green Carrey listening. They weren't doing anything, but now they're
cleaning because of that question we got about the squalor.

Speaker 2 (49:52):
I'm sure are you expected company?

Speaker 3 (49:56):
And I just want to do say this. Jack and
Naomi Bradshaw are are in with their goslings. They heard
the talking about New Jersey, and he was like, not
on my watch, drove up here?

Speaker 2 (50:10):
Yes, Yankee Jack is a is a New York man.
Oh did you did you?

Speaker 3 (50:16):
Did they have from Jersey? He just happens to really
like Bruce Springsteen and also the New York Yankees.

Speaker 2 (50:21):
Okay, okay, well then be on your p's and q's.
M J. Yes, Fritz, you got the dump button?

Speaker 4 (50:29):
Ready? I always do?

Speaker 3 (50:31):
My man looking at it right now.

Speaker 4 (50:33):
Nalie says she is leasing. They are leasing apartments in
Balden Park neighborhood.

Speaker 2 (50:37):
All right, there you go, people, are you know? We
asked people to tell us what you're doing on this Yeah, Saturday,
we are live here in the radio one of four
point one, the only the most talked about, the most
listened to, the most love, the most textable through seven
seven zero three one and ask your questions here. We'll
answer them. If we don't know, we'll we'll we'll take.

Speaker 4 (51:00):
So this fine human says that my Fico app is
accurate to what you see. They show all the scores
a monthly. It's a monthly fee, but it shows them
accurate scores and their mortgage lender always matches that app.
So if the person who asked, how can I know
my credits card?

Speaker 3 (51:14):
Well, what they were, it's not free.

Speaker 2 (51:15):
Yeah, they were asking if there's a free way to
do it. Yeah, you can. You can pay to get
a credit report anytime you want. But yeah, there's a
number of ways out there through the credit bureaus if
you if you are willing to pay, even through the
free annual credit report, you can pay a little bit
extra and they'll tell you what your scores are. So yeah, great,
thanks for texting that into seven seven zero three to one.

Speaker 4 (51:34):
About Ufosley today, Dave has said that you can go
to Roswell. There's a museum and a research center and
it's awesome.

Speaker 2 (51:42):
Uh huh.

Speaker 4 (51:43):
I wonder if it tells you for sure that there
are aliens. That's what I want to know.

Speaker 2 (51:46):
I think it's run by aliens.

Speaker 4 (51:48):
Oh okay, cool, cool, cool.

Speaker 2 (51:49):
There you go. That's another theory. Someone texting me that
all of Disney was run by aliens. Oh oh allegedly
huh And that was just you know, the dear leader
takeing off.

Speaker 3 (51:58):
Oh, well, that's what they don't want you to know.

Speaker 2 (52:00):
Man. Guess what time it is, m Jay, It's time
for the compare quote of the week dot com. What's
the compare quote of the week? You ask, Don't worry.
I'm going to tell you that that's something I came

(52:21):
up with a couple of years ago because I read
a study that said that less than twenty percent of
people get a second quote after they get their first
mortgage quote, and that the reason why is that it's
too hard to get a second quote, and it takes
a lot of time and a lot of effort. But
I think it's a really bad idea because when I

(52:41):
see people's quotes that they send me, often they are
leaving thousands and thousands. I've seen twenty thousand. I've seen
thirty thousand on the table for additional costs or additional
closing costs that didn't need to be there. I've seen
rates a point two points three points higher than they
need to be. So I am a big believer in
comparing your quote. I set up a thing of my

(53:02):
website where you just go to the website, you hit
compare your quote, you upload the quote you have, I
take a look at it. I don't need to pull
your credit. You don't have to do a big application.
I mean, if we tell you the quote and you
like it and you say you want to move forward,
then yeah, we proceed the normal way. But to find
out if the quote you have is any good, you
get that piece of mind to be able to tell
your spouse, yes, this is a good quote. You know,

(53:23):
it's the first one I got. It's from a company
twenty states away, but it's the best. Well, no, you
don't have to do that. You can. You can go
to that mortgage guy. Don hit the compare quote button,
upload it. I'll tell you if it's good. There are
certainly times that I tell people, yeah, that looks great.
You're in good shape. You have that piece of mind.
This week's Compare Quote of the week this single woman.

(53:43):
She was buying a home, five hundred thousand dollars home,
and she had a huge down payment. She was putting
down three hundred thousand dollars MJ SO on a five
hundred thousand dollars house. She was putting down please everything
one hundred thousand, right.

Speaker 3 (53:57):
And that's what hang off like more than half of it?

Speaker 2 (54:00):
Right? Oh yeah, financing forty percent. When I was talking
about loan to value earlier, forty percent is good. You're
gonna you expect a good interest rate if you're putting
down sixty percent.

Speaker 4 (54:10):
I would think.

Speaker 2 (54:10):
And on top of that, her credit score was an
eight forty five.

Speaker 4 (54:14):
Goodness, Wow, it feels like a very high high level qualifier.

Speaker 3 (54:19):
Yeah.

Speaker 2 (54:20):
It is the single most high score I've ever seen, Wow,
in twenty twenty six years of doing mortgages, because they
only go up to eight fifty. So an eight forty
five credit score is like, I don't know, I've never
even seen one that high. She had gotten a quote
from Rocket Mortgage and they had offered her six point

(54:40):
eight seven five rate with thirty five hundred dollars in
origination fees. She was expecting a much better rate since
her score was eight forty five and she was putting
down sixty percent of the home price, so she compared
her quote with us. She was right, she did. She
should have had a better rate. I was able to
get her down to five point ninety nine goodness on
a thirty year fix instead of six point eight seven five,

(55:03):
And I didn't, And our origination fee was zero wo.
So we got her rate what almost two points lower
and saved her thirty five hundred dollars in the origination fee.
One of the concerns was that we only had three
weeks left to close. That's no problem for us. We
got the loan done with about five days to spare,
so we switched it over and saved her a bunch

(55:23):
of money. This is why you know, I always say
you eat local, you shop local, mortgage local. You know,
give it a shot. You don't want to necessarily be
working with a lander that's fifteen or twenty states away,
doesn't know the area, doesn't know your scenario, and it's
probably not concerned about you know, your future business, or
your referrals or your return business. So anyway, she compared

(55:44):
her quote, got a much lower payment. The payment was
over two hundred dollars a month less in pure interest.
That means interest. That's not like you're going to pay
it off slower, and that means you're paying less money
to the bank. So in summary, she came prepared with
cash in hand, a top shelf score, and three hundred grand.

(56:06):
She thought her quote was way too high, so she
compared with that mortgage guy. I lowered the rate and
removed the fee. We shook our fists triumphantly. Please be wise,
don't be a yokl. Compare your quote and mortgage local
play the jingle Frits Co.

Speaker 4 (56:29):
Well done there, it is well done.

Speaker 2 (56:31):
You heard it here first and only. You're listening to
the Home Loans radio show with that mortgage guy Don
We're here with MJ and Fritz. You can text in
your questions, comments, salutations, tell us what you're doing out
there on this fine labor day. Texting A seven seven
zero three to one and join the conversation. You still
have time. We got a little over a segment left.

Speaker 4 (56:50):
Getting close, Fritz, question for you, when are you releasing
a rap album? I think we've gotten that.

Speaker 3 (56:55):
Question wrap album? Well, I have several already under Lucius Lisa.
Fair enough about the way I found the website I
was trying to find. It's a new fork in u
f O r C dot org. There's a map, a
world map. You can see every UFO UAP sighting starting

(57:15):
from the forties to present day. There are a lot
what is it in you new fork dot org in
U f O r C dot org.

Speaker 2 (57:25):
I'm gonna check that out after the show and Orlando.

Speaker 3 (57:28):
There are four hundred and three sightings from nineteen fifty
seven to twenty twenty five.

Speaker 2 (57:33):
Wow, how many over Epcot five.

Speaker 3 (57:37):
No is it?

Speaker 2 (57:41):
That? Is it that granular? I'll check it out after
the show. But that's interesting there.

Speaker 4 (57:46):
Here's someone who says, my condo is going through the
Millstone and s R R S I R S issues.
Do you know what that is? SR S I serves issues.

Speaker 2 (57:55):
I don't know Millstone.

Speaker 4 (57:56):
They're going through it and we're facing alone that Matures
and Janey. It's roughly sorry, hey, it's all that's what
you got there. Here's someone who says, that was a
great rhyme, A yay, thank you. They're going through the issue.
They're having issues now, they're facing alone the Matures. In January,
it's roughly twenty six ka unit. They have about one

(58:19):
hundred and fifteen inequity there. Should they take the monthly
payment to the condo association at six percent interest for
the next eight years or try to get a helot.

Speaker 2 (58:27):
It sounds like they're talking about an assessment of some
sort of yeah. Yeah, So if you live in a condo,
Let's say you live in a condo billing and there's
ten units and two elevators, and one of those elevators
breaks down, then the residents, you know, the ten units
have to cover that cost, and usually the condo association

(58:48):
will do an assessment. If it's a two hundred thousand
dollars elevator, well then everybody, everybody owes twenty grand. If
there's ten people in that there's also a lot of money.
Six Yeah, there's also a lot of that happening because
there's new law in place, new inspections that condos have
to do in the aftermath of the one that collapsed
in South Florida, and it can be expensive. So it
sounds like there's a big lump some of things they've

(59:09):
got to fix, and the association is maybe offering to
finance it for people, and they're asking whether they can
find it, whether they should finance it or not. Six
percent sounds pretty good. But if you if you we
have done some helocks down in the five so we
might be able to get a little bit better than that.
If you want to hit me up at the website
that mortgage guide don we can get your information and

(59:33):
see what a helock quote would be for you. There's
no cost, there's no hassle, there's no credit pull or
anything to find out, So at least check and see
if we can get you a better rate than what
they're what they're offering. Oh, in math neveralizes. It's the
right the rate, the rate. It's gonna matter. You're listening
to the Home Loans Radio show. Will be right back
after these messages for the final segment of today.

Speaker 1 (59:51):
Do you have a question for that mortgage guide Don
text us at seven seven zero three one. Now back
to Home Loans Radio, Unreal radio.

Speaker 3 (01:00:01):
We talk about anything here on the Homelands Radio. If
you would like to follow Don on Instagram, it's that
mortgage guy Don. If you would like to ask a
question seven seven zero three one. If you would like
to email him, that's that mortgage guy Don dot com.
I am Fritz, We got MJ and that mortgage guy
Don dot com. That mortgage guy Don, That mortgage guy Don.

Speaker 4 (01:00:25):
Here's someone that says yay dot com not a conspiracy theorist.
On the subject of aliens. I saw UFO while living
in Iowa.

Speaker 3 (01:00:35):
I was twenty wow.

Speaker 4 (01:00:36):
There was a solid white light that appeared suddenly over
the horizon, like hitting a light switch. It was almost
five am. It shone straight up into the sky, about
sixty to eighty yards wide, only shine for three to
five seconds, and it trailed off into the sky and
was gone into the universe. I wish I was making
it up. There were three other coworkers with me. Wow,
So I think next week we should do UFOs.

Speaker 3 (01:00:56):
Right, if we could do this Fritz each week, come on,
do it.

Speaker 4 (01:01:00):
Let's do it. Everybody, bring bring me your UFO stories.
Don't just make them up. You know, if you don't
have one, go read about one. Give me bring me that.
I'll be fun.

Speaker 2 (01:01:09):
And I did look up the new Fork website during
the break there turns out I thought that was a
weird name, but it makes perfect sense because it stands
for National UFO Reporting Center. So that's the the acronym
of New Fork. But yeah, that's pretty that's pretty interesting.

Speaker 4 (01:01:27):
Let's do that.

Speaker 2 (01:01:28):
I've never seen it story. Have you had an in
person citing of a of a of a no unidentified
aerial whatever it's called u AP.

Speaker 4 (01:01:38):
I've seen ghosts, but I've never seen a UFO.

Speaker 2 (01:01:40):
You've seen ghosts, different different show.

Speaker 4 (01:01:45):
We'll do ghosts on a different show. But next week UFOs,
I know, I know they're not called UFOs anymore.

Speaker 2 (01:01:53):
Yeah, well, I will tell you fun tip. There's a
there's a there's a website. Like, if you ever see
something above your house or lights or whatever, there's a
website called Or a helicopter above your house or whatever,
there's a website called flight Aware. There's a couple of
them where you can go and it'll show you what
aircraft is above you. If none, then you know it's
a UFO.

Speaker 4 (01:02:14):
Oh I love that.

Speaker 2 (01:02:15):
But you can see, you know, is that a police helicopter?
Is that a military helicopters?

Speaker 4 (01:02:18):
How do you do that?

Speaker 2 (01:02:19):
Oh? Yeah, I do it all the time.

Speaker 4 (01:02:20):
Because I always think that, especially if it's like late, late, late,
at one o'clock in the morning and you hear the
helicopter for a while and you start at first you think, oh,
it's probably metavac or something, But when it keeps going on,
you're like, oh, somebody crawling through my backyard. Yeah, like
are they looking for somebody? Like what's happening?

Speaker 2 (01:02:35):
Nine times out of ten when I look them up
there like the Sheriff's department, you know, Seminole County, Orange
County Sheriff's Department, Sometimes they're metavac, you know, especially if
it's like midnight or one in the morning. Last week,
there was one nearby my house I looked it up,
and like, when you go and look them up, it'll
show you the tail number, it'll show you a photograph,
it'll tell you what you know all about the airplane,

(01:02:56):
the aircraft, whatever it is. This one was all black.
It's it told to tight of helicopter.

Speaker 3 (01:03:01):
And everything else was not available. Right.

Speaker 2 (01:03:03):
It basically said like men in black. It said government
vehicle identification. Need to know basically.

Speaker 4 (01:03:10):
All right, yeah, so you do not need to know.

Speaker 2 (01:03:15):
Well, guess what time it is, MJ.

Speaker 4 (01:03:19):
It's time for the speed round. Here's someone says, hey, hey,
don I love the way the three of you work together.
You're so fun and comfortable. I listen every week. Thank you, Marshall.
I'm Lake George. And here's someone who says, my nine
year is obsessed with aircraft. We use flight radar. It's awesome.
You can track any commercial or non commercial flight in
the world. Cool, cool, cool. Now time for the speed round.

Speaker 2 (01:03:40):
It's time for the speed round.

Speaker 4 (01:03:41):
Let's go. Well done, Okay, here we go. So I'm
going to answer some questions that you're gonna we got
through that I haven't did, I haven't that I didn't
ask you.

Speaker 2 (01:03:54):
You just said you're going to answer them, but I'm not.

Speaker 4 (01:03:56):
I'm gonna ask Them's.

Speaker 2 (01:03:57):
Gonna ask me a bunch of questions real quick.

Speaker 4 (01:03:58):
That I didn't answer them, But you know, I can't
guarantee the answer.

Speaker 2 (01:04:01):
That we didn't get to during the show, and I'm
going to answer them. If I didn't get to yours,
it doesn't mean I didn't want to go to the
website or at Instagram and DM me or send me
an email and I'll get to you get them answered.

Speaker 4 (01:04:11):
For you after the show, Like, oh no, that's not it.

Speaker 2 (01:04:15):
Speed round, MJ speed speed.

Speaker 4 (01:04:18):
Oh in so fast, here's what we've never gotten. Are
you able to get a first time home Buyers program
and a Hometown Heroes program at the same time?

Speaker 2 (01:04:27):
Technically kind of like you can do Hometown Heroes with
an fah loan. An fah loan is often considered to
be a first time home buyer's loan because it has
a low down payment and you can get the Hometown
Heroes with that.

Speaker 4 (01:04:39):
Yes, do you have to be married to apply for
a loan with your partner?

Speaker 2 (01:04:42):
No, not at all. No, you can you can be
bez buddies. You can have four roommates, go in and
buy a house together on an applicant, you know, on
one mortgage if you want, and you don't have to
have a relationship now. I do recommend that if you
are non married, or non partners or just friends, that
you have some sort of agreement written up ahead time,
almost like a prenup of what you guys are going
to do if somebody doesn't want to live there anymore.

(01:05:04):
I had a family or a family a couple not
too long ago, two folks that bought a house together
as roommates, and then like six months later they called
me and said, nope, we're selling. We can't stand each other.
So it happens again.

Speaker 4 (01:05:17):
They just buy one out. I guess you can't.

Speaker 2 (01:05:18):
Well, luckily they were amenable and they they're friends. They
just couldn't stand to live together apparently. Yeah, so I
do recommend that you have some sort of agreement in
place of how that goes down if one party wants
to leave or things aren't going well.

Speaker 4 (01:05:31):
I'm looking to buy a home in Orange County. I
currently have a home in Blue Show with about two
hundred fifty dollars in equity. The kicker is I have
a two point one interest rate. Also have a great score,
I'd be using my VA alone. Any idea about a
ballpark on an interest rate on a sixty six fifty
K home. What's a ballpark rate for someone who's very
well quality and you're.

Speaker 2 (01:05:48):
Doing a VA probably in the high fives right now. Yeah,
it's a five, seven, five eight around that range. And
then if you want to do a fifteen year even
even a little bit lower. We're seeing the best rates
right now. We've only seen rates will lower one time
this year, and that was in April for about a week.
And this has been kind of sustained now for about
three or four weeks. So we're getting a bunch of
people jumping in and refinancing and saving people five hundred

(01:06:10):
thousand dollars a month in some cases on refinances right now.
If you have a rate with a seven in front
of it, then you should definitely be thinking about that
right now.

Speaker 4 (01:06:19):
And lastly, can I come into your office and talk
to you about a reverse mortgage?

Speaker 2 (01:06:22):
Absolutely, my office in Winter Springs near the intersection of
Tuscowill and Redbug and I'm sorry, near Tusco Willa and
four thirty four, and you can set up an appointment
with me and we can talk it through.

Speaker 4 (01:06:33):
All right, here's the riddle real time. This one's a thinker.
You think about it. I'm out.

Speaker 2 (01:06:40):
It's up to you and J need you to be in.

Speaker 4 (01:06:42):
I already know the answer.

Speaker 2 (01:06:43):
MJ. You're our only hope.

Speaker 4 (01:06:44):
No no, what common English verb becomes its own past
tense by rearranging its letters.

Speaker 3 (01:06:52):
Oh dear eat an eight.

Speaker 2 (01:06:57):
Son of them.

Speaker 4 (01:06:59):
You are a winner, baby.

Speaker 2 (01:07:00):
Woo, well done, well done.

Speaker 4 (01:07:05):
Yes, I was not every day. Congratulations, congratulations, Hey, thank
you then, Jay, that was amazing. I am so impressed.
I'm gritty year to ear. Very good.

Speaker 2 (01:07:23):
Well, folks, we did it. You successfully wild away another
ninety minutes of your Saturday morning listening to us right
here on Everybody Weekend. Play us out of here with
something cool. Mister Fritz, I.

Speaker 3 (01:07:33):
Have read about my UFO sighting a good luck.

Speaker 4 (01:07:40):
This suck.

Speaker 2 (01:07:51):
Sound.

Speaker 1 (01:07:54):
You've been listening to Home Loans Radio with that mortgage guide.
Don join us every Saturday at night on Real Radio
one oh four point one and check us out online
at home Loansradio dot com