Home Loans Radio 09.20.2025 with That Mortgage Guy Don- Rates are the lowest they have been in 3 years!

Home Loans Radio 09.20.2025 with That Mortgage Guy Don- Rates are the lowest they have been in 3 years!

Episode Transcript

Speaker 1 (00:00):
It's time for Home Loans Radio on Real Radio with
that mortgage guy. Don join the conversation. Text us at
seven seven zero three one. Now here's that mortgage guy Don.

Speaker 2 (00:13):
Hey hey hey, hey, hey hey hey, good morning and
welcome to the Home Loans Radio show with that mortgage
guy Don. That's right, it's me. I'm here. We're doing
what we do every single Saturday, and what we've done
every single Saturday for the over three hundred and eleven Saturdays,
zero years since the beginning of time. Welcome to my crew.

(00:35):
Good morning, MJ, good morning, and the fritz Man.

Speaker 3 (00:39):
Is not on.

Speaker 2 (00:42):
Yeah, you too can join the conversation. We are a
live show, the most talked about, the most listened to,
the most live show right here in Real Radio one
oh four point one from nine to ten thirty on
Saturday mornings. You found it. Text in seven seven zero
three one. You want to join the conversation. Tell us
what you're doing out there on a Setaturday while we're
in here doing this here thing that we're doing, uh,

(01:03):
which you're working? You want to text in a question
about a mortgage, question about a home lank tell me
that in luck I'm a mortgage expert, and I will
answer them right here on the air. You can also
go to the website anytime during the show That Mortgage
Guy Don or you can follow me or check out
the stuff on Instagram at that Mortgage Guy don you
know MJ and Fritz just it was just last October

(01:28):
when Fritz was giving me grief about my Instagram, you know,
saying that I had, like, but what was it about
five or six followers, just my my in laws and
dog my dog's former account alive.

Speaker 4 (01:43):
And I feel bad looking back at it now that
was just your private account.

Speaker 5 (01:46):
I didn't know that.

Speaker 2 (01:47):
Oh no, it and you didn't feel bad for that.

Speaker 5 (01:51):
I'll just lighten you up.

Speaker 2 (01:53):
Anyway, we're on the cusp of breaking the three thousand
follower marks. You need, like maybe boy, five more followers
and we'll break the the three thousand marks.

Speaker 4 (02:05):
Only we had five listeners right now, like an Instagram
page for us.

Speaker 2 (02:11):
Yeah, and thank you for all the folks that have
followed and are making the Instagram a lively commentary spot.
That's at that Mortgage guide on. Oh yeah, there's there's
always lots of dialogue and fun in there.

Speaker 3 (02:24):
A mortgage dialogue.

Speaker 2 (02:25):
Well, that's the majority of the questions, I guess, but
I do get questions about the reels that we've been
doing because you know, they're they're a little out of
the box.

Speaker 3 (02:33):
You can check them out.

Speaker 2 (02:36):
You have to find out, am Jay. You haven't you're
not following on Instagram. It's a mandatory show rule. Everybody
on the show has to follow it.

Speaker 4 (02:43):
At that mortgage, I like those like off you know,
out of pocket comments is like hey, Dan, when you're
gonna make your only Don's page?

Speaker 2 (02:54):
Yeah, yeah, there's some of those. There's people, uh westing things. Also,
people want me to do weird dances. Oh oh really,
I haven't worked up to that yet.

Speaker 4 (03:05):
Have you gotten any Illuminati messages yet?

Speaker 2 (03:09):
Not that I can understand?

Speaker 3 (03:10):
Yeah, any alien.

Speaker 2 (03:15):
Yes, for sure.

Speaker 4 (03:15):
I got a couple it was like, hey, do you
want to join the Illuminati? It's like, oh, so it's
so secretive. That's all you need is an Instagram I
got you.

Speaker 3 (03:25):
Yeah, I can be part of a club that wants
me in it.

Speaker 2 (03:28):
There are some posts that could be Illuminati. I just
don't even know what they're trying to say sometimes, but
there you go.

Speaker 5 (03:34):
Hey you liked my post. It's like I didn't know
that was illuminadi. Let me take it back.

Speaker 2 (03:39):
Yeah, we're gonna be around to see you soon one
moment please.

Speaker 3 (03:45):
Also, today we're going to give away some tickets to
Moe's comedy show. What October.

Speaker 5 (03:56):
That's right, comedy jam.

Speaker 2 (03:57):
I'm back.

Speaker 5 (03:58):
I didn't know about that, you know.

Speaker 2 (04:02):
Yeah, I got a little thing here. We got the
the just call mo fourth Annual Comedy Jam at the
Window Funny Bone Club, always so fine. Yes, it's gonna
be Thursday, October second doors at seven, show at eight.
Guess what. The first hundred people to come up and
say hi to me there at the show get a
coupon for a free drink there at the show. It

(04:25):
can be an adult beverage. It can be a non
alcoholic beverage. It can be a cup of coffee.

Speaker 3 (04:29):
If you want to know, do they have coffee?

Speaker 2 (04:31):
Well that's not my problem.

Speaker 3 (04:32):
Okay, it can be a cup of coffey, it's what
you were looking at as a beer. But it could
be a cup of rest.

Speaker 2 (04:40):
I mean they serve a full on dinner.

Speaker 3 (04:42):
I think it's actually always surprising there.

Speaker 2 (04:45):
Yeah, it's your ticket, gets you a ticket. Prices range
between twenty bucks up to one hundred bucks for you know,
depending on the CD or package. Some of the packages
come with dinner or you can add dinner. It's for charity.
It's for the Yellow Brick Road Fund. And the lineup
we got the host, Ross McCoy and Madison back Itch,

(05:05):
Richie Reyes, Sean Finnerty are among some of the performers.
There's some funny people in that lineup. I did a
little digging. Oh yeah, yeah, it's gonna be fun. Well,
guess what. At some point during the show today, we've
got three pairs of tickets to give away to the
Just Call MO show. So we'll let you know where
that is. Stay tuned.

Speaker 3 (05:24):
Should we do it? Maybe I could bring up old
riddles and you could answer them quickly. That sounds I
met for for contestants.

Speaker 2 (05:34):
Maybe like maybe all.

Speaker 3 (05:36):
Right, you know, and they can come in with the
first one who comes in with the answers, they can
they can get the tickets.

Speaker 2 (05:40):
Okay, Well, we do the riddle time at the very
end of the show you're talking about.

Speaker 3 (05:43):
There's some extra riddles that we've already done. Okay, some
previous riddles and.

Speaker 2 (05:48):
As you can see, we've prepared a head for this.

Speaker 5 (05:50):
Yeah, very hard time show planning.

Speaker 3 (05:53):
How many meanings have we had about this? Guys, like
so many?

Speaker 2 (05:57):
Zero did not have?

Speaker 3 (06:00):
We just did not.

Speaker 2 (06:01):
I can't cover that. I can't cover everything in.

Speaker 3 (06:03):
The meeting, So things are a surprise.

Speaker 2 (06:05):
But yes on, stay tuned. Sometime sometime during the show today,
you're going to hear an additional bonus riddle time and
we're going to give away some tickets to the Just
Call Mo fourth Annual Just Call Mo Comedy Jam October
second in Orlando.

Speaker 3 (06:20):
It's gonna be a good time.

Speaker 2 (06:22):
You can also text into the show now or anytime
seven seven zero three one. Tell us what you're doing
out there, what's cooking?

Speaker 3 (06:28):
Usually this is the time where you ask me what's
going on in the mortgage world? And I wanted to know, Hey,
what's going on in the mortgage world. I hear all
this about the rate cut, and I feel like a
lot of people think that's a mortgage cut.

Speaker 2 (06:39):
You're talking about the prime rate reduction.

Speaker 3 (06:41):
Yeah, that is the topic of the confused.

Speaker 2 (06:43):
That is the mortgage news topic that I wrote down here.
A lot of times I'll write a paragraph time at
this time, I just wrote a prime rate and I
know what the question is going to be I have
gotten more than a dozen phone calls, probably a couple
dozen texts, you know, all kinds of emails this week
of folks saying, oh, I heard the FED reduced the
prime rate a quarter point. That's great for mortgages. I'd

(07:05):
like to refinance and I have to, or something along
those lines. You know that now that the Fed is
lowered mortgage rates, you know where are they at that
kind of question. But the reality is that the federal
funds rate cut that everybody heard about is not is
not the actual mortgage rates. It's the prime rate. It's
the Federal funds rate, and that doesn't control directly mortgage rates.

(07:26):
It does directly control other things like the interest rates
that you get on a savings account or the interest
rates that you get on a CD a certificate of
deposit at a bank. Those are immediately changed when the
FED changes. Other things that are impacted, which are good
for all of us, is that it affects credit card
rates right away. So you know, your credit card rate

(07:47):
may go down a quarter point dependent on your plan,
your you know what you what you signed up for,
what you agreed for. Mortgage rates, It does not lower
them instantly or or they're not even tied together in
any direct sort of fashion, but typically happens after a
prime cut. Same the last prime cut we had nine
months ago, guess what interest rates went up for months,

(08:08):
for two or three months, and then they've been coming
back down and down ever since. And the other day
when they did on Wednesday when they said they're going
to lower the prime guess what Mortgage rates went up again. Friday, Monday, Tuesday,
Wednesday they went up again. So it's not a direct correlation.
Now we're still even though I'm saying they went up,
it's a tiny increment. We're still in the best rates
we've had in the last three years right now. But

(08:32):
they were heading, you know, on a down or curve.
And now that's what these grafts do. Whenever you look
at a graph, it's always like it bounces it up
and down and up and down. It's not a straight line.
And so I think we're kind of working our way
down lower and lower. Right now. We are seeing rates
of the lowest they've been in the past three years.
So it's definitely a time to refinance. I locked in
a refinance for someone a thirty year conventional refinance yesterday

(08:53):
in the fives five point nine to.

Speaker 4 (08:54):
Nineh we're getting close for all, Fritzy boy.

Speaker 2 (08:57):
Yeah, and we're getting down to the you know, into
the fives. I think end of the fives is where
where a lot of people are looking as far as
you know, where they're waiting to buy a house or
or waiting to refinance. But if you've got a rate
right now with a high six in it, you know,
six point seventy five, or if you've got to for sure,
if you've got a rate in the sevens or eights,
oh yeah, jump on it. I did a refinance this

(09:19):
month for someone who had a rate of eight point
twenty five, and we got them down to five point
nine nine. We lowered the rate over over two points.
They've got them over six hundred a month like a
credit card.

Speaker 4 (09:31):
So and again, if you just bought a house, you
got to make at least five mortgage payments right to refinance.

Speaker 2 (09:40):
I mean, yeah, Well, there are situations where you can
refinance six months after you purchase, but typically it's a year,
and a year is better because then you can use
a new appraised value, whereas if you if you and
the ones that allow you to refinance after six months
after buying. They're gonna base everything on the purchase price

(10:01):
that you paid rather than what it would be worth,
or if you bought it below value, you're not going
to get the impact of that. But twelve months is
the good target. If you've had your house at least
twelve months and you've got a rate with a high
six or a seven in front of it, or an
eight or dare I say nine but you doubt but
you might, then now it's the time to look at
a refinance. It's really easy to do at our website,
that mortgage guide don dot com. You just apply for

(10:23):
a refine. We do only a soft credit poll. We
send you a quote, and then you decide, hey, this
looks good or this doesn't look good. And then, of course,
if you already got a quote, you just go to
the website and you pop it in the compare quote
to calculator and I'll look at it and tell you
if you can do any better. Simple as that. You're
listening to the Home Loans radio show that mortgage guy Don.
You text in the show at seven to seven zero

(10:44):
three to one. Joined the conversation on this fine fall day.
It feels like fall.

Speaker 3 (10:48):
It's starting to When is faalsterta.

Speaker 2 (10:51):
It's September twenty first, when is fallster?

Speaker 3 (10:53):
I mean, I think for regular people who don't live
in the tropical heat basket that we do, I think
you're false starts in September.

Speaker 5 (11:02):
Tropical heat basket.

Speaker 3 (11:05):
Oh no, there you go. Put that on a T shirt,
a basket, and then under that I'd rather be shooting hoops.

Speaker 2 (11:12):
Yeah, that's a noun. Tropical old tropical heat basket.

Speaker 5 (11:19):
If you catch my drift.

Speaker 2 (11:22):
You say that on the radio. Okay, sorry, we all
live in a tropical heat basket.

Speaker 5 (11:36):
I love those three words together. It gets better and better.

Speaker 4 (11:41):
It's like tropical al right, heat, I get tropical heat basket.

Speaker 5 (11:44):
What the hell?

Speaker 3 (11:47):
It went a little sideways on the basket. I'll speak
to you.

Speaker 4 (11:51):
Sideways on the basket part you heard it happens in.

Speaker 5 (11:57):
Real time, tropical heat basket.

Speaker 2 (11:59):
It's why we call MJ the word smith. It reminds me.

Speaker 5 (12:02):
Of that Melissa McCarthy scene from Bridesmaids.

Speaker 3 (12:06):
Yes, oh dear.

Speaker 2 (12:16):
I'm sorry, don't cry.

Speaker 3 (12:17):
I'm I'm just lit's sign you for one.

Speaker 2 (12:23):
There you go. Yeah, flight of the concord, so I
get that.

Speaker 3 (12:26):
Reference that was that was lots of people are checking
in to say hi, but we do have a few
questions also, So I think for the for the contest,
I'll do an old riddle and the first person that answers,
we'll get tickets.

Speaker 2 (12:40):
Oh you want to do that?

Speaker 3 (12:41):
Now, we'll do it three times.

Speaker 2 (12:43):
Do that now, like.

Speaker 3 (12:44):
Sure, Okay, okay, I'm just gonna remember one, so it'll
just be in min Let's do.

Speaker 2 (12:48):
It now, let's try. Let's give a trial run, see
how it goes. All right, all right, ready, Uh so
we're we're talking about we've got two tickets that we've
got a couple of pairs of tickets, but we're giving
away right now two tickets to the fourth Annual Just
Comedy Jam Show at the Orlando Funnybone Dinner and a
comedy show with five performers, I believe, And we're giving
away two tickets here in just a minute, if you

(13:10):
text into seven seven zero three to one, the answer
to MJ's ridd'll go right.

Speaker 3 (13:16):
I'm just I'm remembering this.

Speaker 2 (13:18):
This is a tropical heat masket.

Speaker 3 (13:21):
Ten people are in a ten people are in a
boat wreck.

Speaker 2 (13:25):
Do you have this written down.

Speaker 3 (13:27):
No, I'm just remembering. Oh no, ten people are in
a boat wreck and everyone dies, not a single survivor. Wait,
I did it wrong.

Speaker 5 (13:42):
Yep, why don't you just look one up?

Speaker 3 (13:46):
I will, I'll do that.

Speaker 2 (13:47):
Yeah, oh there you go.

Speaker 3 (13:51):
I'm ready.

Speaker 2 (13:52):
What's happening right now?

Speaker 3 (13:53):
I'm ready?

Speaker 2 (13:53):
Okay, you ready?

Speaker 3 (13:54):
Yes?

Speaker 2 (13:54):
Oh you got it.

Speaker 3 (13:55):
I have one eye, but I can't see.

Speaker 2 (13:57):
I have one eye, but I can't see.

Speaker 3 (13:59):
One eye but I can't see.

Speaker 2 (14:00):
That's like a pretty easy risk.

Speaker 3 (14:03):
So somebody should be getting.

Speaker 2 (14:04):
A's elementary school riddle.

Speaker 3 (14:06):
Somebody should get it.

Speaker 2 (14:07):
So texting a seven seven zero three to one the
answer if you know it, And then you're also going
to need to text in your name once we tell
you the winter, you have to text in your name
addressing phone number to get your tickets. There you go. So,
uh well, while we wait for those to come in,
we're gonna take a quick break and we'll be right
back after these messages. Hey, hey, hey, it's that mortgage

(14:28):
guy don September is here, and so are the dog
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(14:49):
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(15:09):
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number CGC one five two seven sixty one three.

Speaker 3 (15:25):
Hey, this is Devor Roberts from the Jim Culbert Show,
and you're listening to Home.

Speaker 5 (15:29):
Loans Radio on Real Radio. Now back to the show
with that mortgage guy Don.

Speaker 3 (15:36):
Hey, Hey, you are listening to Homelands Radio with that
mortgage guy Don talking about the mortgages. Also send it
giving away some tickets for most Comedy Jam.

Speaker 2 (15:45):
Yeah, we had a contest rate before the break riddle
contest people texted in. We're supposed to text it answers.
Did anybody get at mjay?

Speaker 3 (15:52):
Dozens of people have texted dozens dozens of people have
texted in, And the answer is, so far, I think
they are eight individual there's all which work.

Speaker 2 (16:01):
So what was the riddle? Till till?

Speaker 3 (16:04):
The riddle was what has an eye but cannot see?

Speaker 2 (16:07):
Okay, so what Fritz and I guess get to if
you get to eight, I get well, of course a needle.

Speaker 3 (16:13):
Yep, that was the one I was looking for.

Speaker 2 (16:17):
Hurricane.

Speaker 3 (16:18):
Yeah, what else?

Speaker 2 (16:21):
The cyclops? That one is not one of the blind cyclops. Okay,
it's one.

Speaker 3 (16:27):
I'll put what I'll put that that wasn't one of
the ones. We got about a potato, Yes, potato, potato
came man, m potato came in.

Speaker 2 (16:41):
I don't know what that was.

Speaker 3 (16:44):
Nowhere. I want to know all about it.

Speaker 4 (16:46):
You two was playing in Springfield and Homer tried to
sneak backstage, so he showed up with a sack and
just goes potato man, and and did guy.

Speaker 5 (16:53):
Work on the door? Goes the guy work at the
door goes.

Speaker 2 (16:56):
Where the hell have you been?

Speaker 5 (17:00):
It's the easiest, Like I don't know, like what do
you call it? When it's like.

Speaker 4 (17:07):
Us makina, you know, it's just like, okay, this is
how it gets backstage.

Speaker 3 (17:12):
That's funny.

Speaker 2 (17:13):
Losing it.

Speaker 3 (17:14):
That was funny.

Speaker 5 (17:15):
It's one of the best.

Speaker 3 (17:16):
And I also love your your accents.

Speaker 5 (17:18):
So where the hell have you been?

Speaker 2 (17:21):
So we've got three? We got three what has an eye?
But I cannot see some of them the other ones.

Speaker 3 (17:27):
Some of them are more wordy about words about letters
maybe right.

Speaker 5 (17:32):
Yeah, oh well, okay, there's an eye on grip.

Speaker 4 (17:37):
Yeah that's true, but it can't see because it's got
an eye.

Speaker 3 (17:42):
One eye has one eye.

Speaker 2 (17:45):
Scintillating scintilating radio.

Speaker 3 (17:47):
Here, folks here from Mortgage Information, and we're arguing about
the letter I. I'm just trying to make this work, baby,
brought to you by the letter I.

Speaker 2 (17:56):
Let's just go ahead and give the answers alphabet the
alphabet has one eye but can't see, all right.

Speaker 3 (18:01):
The actually winning answer, which was one by.

Speaker 2 (18:08):
H.

Speaker 3 (18:08):
Mark. Thanks Mark. Mark's answer was first, and his answer
was seven. The number seven.

Speaker 2 (18:18):
The number seven has one eye, but cannot see. I'm
not getting it.

Speaker 3 (18:25):
Me either, So I don't know.

Speaker 2 (18:29):
If you want, Mark, I'll give I'll give it to you, Mark.
But I told you we should have had a meeting.

Speaker 5 (18:38):
Oh man, people are gonna get upset about this.

Speaker 3 (18:41):
We have more, We'll have more.

Speaker 5 (18:45):
Person who texted in, is that is that why they won?

Speaker 3 (18:48):
Wait? There were several people who said seven, So I
just figured I didn't even there are like several The
answer is always seven.

Speaker 2 (18:56):
The answer okay, who gave the actual right answer?

Speaker 3 (18:59):
And that well, the first actual right answer was potato,
and that was I don't know the name, but I
can find out.

Speaker 2 (19:06):
I'll say, I don't know if that's actually right, because
the question is what has one one eye?

Speaker 3 (19:10):
And the potatoes have lots of eyes.

Speaker 2 (19:12):
We're gonna read, we're gonna, we're gonna we're gonna consult
with the management, a counting firmed, or any break and
figure it out.

Speaker 3 (19:19):
Person who gave me answered needle, which was the answer
we were looking for. It was Dale Dale.

Speaker 2 (19:26):
All right, Dale, You're a winner, baby, Dale, you.

Speaker 3 (19:29):
Are a winner. Also, Mark, since I already told you.
I don't want to I don't want to take take
that away from you, but I need you to explain
to me how.

Speaker 2 (19:40):
You know what I call this contest, rits what a
tropical heat basket?

Speaker 4 (19:45):
Yeah, you know what I call it. I think Moe
just lost out on four tickets instead of two tickets.

Speaker 3 (19:51):
That is what happened.

Speaker 4 (19:52):
But I think let me get them on the phone
and next explain what we just did on live radio.

Speaker 3 (19:57):
I think that was authorized. Yeah, I was authorized there,
you know, and those are those are people who are participating.
So sorry, Carrie, and we have eliminated the potato as
an answer. Let's you have a potato with just one
eyeto just what I.

Speaker 5 (20:16):
Like in real time?

Speaker 4 (20:19):
Donna and I both go all right, seven, and then
we got.

Speaker 3 (20:24):
There were so many answers that were okay. I still
feel like we're missing something.

Speaker 2 (20:29):
I didn't want to sound like a tropical heat basket
and not know why the answer should be seven. But
there you go. Oh dear, wow, we've done a great
job on this.

Speaker 3 (20:38):
Seven is a Seinfeld joke. Someoneld say, Okay.

Speaker 2 (20:41):
Well, then we'll find that out later. You know what
we should do, MJ. Maybe we do one of those
mortgage questions or some of those salutations you had.

Speaker 3 (20:52):
That's a good idea. Somebody who said, I want to
find out about a reverse mortgage and how it works,
but I don't want to do it over online. Can
I set up a meeting face to face? Do you
have a real office. My three sons will want to
come with me too. That sounds like a party.

Speaker 2 (21:10):
My three sons. I do have a real office. Yes,
I have a have a bona fide real office. You
can come in there and sit down. But the question
was to explain a reverse I thought you were going
to say, first, explain a reverse, but we don't want
to hear about it on the radio.

Speaker 3 (21:24):
They don't want to go. They don't want to they
dodn't want to do it online. But they do want
to really understand how a reverse mortgage works. And I'm
guessing how it would work for them.

Speaker 2 (21:31):
A reverse mortgage is a mortgage that's for people that
are over the age of sixty two, all the way
up to whatever you can, whatever you can, whatever you
can do, whatever whatever age you got, and it allows
you to if you have a mortgage now, it allows
you to stop making mortgage payments and also access the
equity that's in your property. You still pay your taxes
and your insurance and your HOA, but you wouldn't have

(21:52):
an actual mortgage payment like where a regular mortgage gets
paid down over time or reverse mortgage goes up over time.
And it can save you a lot of money. And
typically it's for the type of the type of person
that I see take advantage of it, as someone who
is older on a fixed income and money is still
tight and they still have a big fat mortgage payment

(22:12):
to pay, but they don't have that income and salary
they had when they were working. And that's typically a
good vehicle allows you to tap into the equity of
your house. You can you can take the equity out
as a lump sum, you can put it into an
equity line that earns interest, or you can get a
monthly payment, a monthly stipend if you will, you know,
a thousand or whatever dollars you decide. So yes, that's

(22:34):
kind of a brief explanation of reverse mortgage. If you
want to find out more about it, you go to
the website that mortgage guide don dot com. There's a
questionnaire there you can fill out and we will send
you a quote and have our reverse mortgage expert, licensed
reverse mortgage expert on the phone and they'll or in person.
You can come in the office, and it's very common.
I have a lot of times where people that are
doing reverse mortgages want their family members to be involved

(22:56):
in the conversation. So we welcome that. And that's about it.
Great question. Thanks for texting that into seven seven zero
three to one.

Speaker 3 (23:03):
Folks out there, William, Thanks William for being here.

Speaker 2 (23:07):
Brion, Carrey, bri and carry How you doing?

Speaker 3 (23:10):
How you doing? A lot of people answering this question,
which really really just makes the board go nuts. Here's
the one who asks if it's a blind whale? Does
a whale have an eye? If there I don't know.

Speaker 2 (23:21):
Well it said. The riddle was I don't want to
keep doing this the controversy in bordio. Yeah no, I
think the question was what has one eye and what
can't see? Ye? Yeah?

Speaker 3 (23:33):
All right, Well there we go.

Speaker 2 (23:35):
We've done that, the old one eyed blind man.

Speaker 3 (23:37):
So we've given away six tickets, now have we well
four tickets? Okay, so we have two more to give away.

Speaker 2 (23:47):
No, we don't. We'll talk about that during the break. Yes,
we have six pairs over two weeks.

Speaker 3 (23:55):
Oh yes, okay, not anymore.

Speaker 2 (23:58):
All right, Well well well you announced yeah.

Speaker 3 (24:01):
But then I we realized that that was for the
for the answer seven. But I'd already notified that person
that they had won. Yes, so I felt like I
should give them those We're gonna have.

Speaker 2 (24:10):
To have a meeting about this. You are indeed listening
to the Home Loans Radio show with that Mortgage Guide Don,
the most talked about, the most listened to, the most
live show right here on Saturday mornings from nine to
ten thirty. That's right, you found it. You can also
go to the website that Mortgage Guide Don dot com.
You can apply there, you can read our past reviews,
you can read all about it, you can listen to

(24:31):
all the past shows, and can also go to Instagram.
What is wrong with you today? Jay just breaking down
in hysterical laughter and I don't understand. Probably we're gonna
take a quick break. We'll be right back after these messages.

Speaker 5 (24:48):
Hey, this is Ryan from the Monsters and now back
to that mortgage guy.

Speaker 2 (24:51):
Don on Real Radio.

Speaker 4 (24:54):
Welcome back to Home Loans Radio here on Real Radio
one oh four point one We've already given out twelve tickets.
I am Fritz, We got J and that mortgage guy Don.
If you would like to follow him on Instagram, he
just needs five follows. It's at that mortgage guy Don
on Instagram.

Speaker 2 (25:15):
Do it? Yes, Welcome back to the show. We've sorted
out everything so we have we have winner for the
contest that needs to text in their name, email and
phone number to MJ at seven seven zero three. One
who was at MJ.

Speaker 3 (25:31):
Our first answer that was Needle was Dale Dale. I
will I will text you.

Speaker 2 (25:36):
Now, all right, and uh, there you go. Tune back
in at the top of the hour. We got another
set to give away of tickets this week, and we'll
have three next Saturday too, so you know you still
got a chance.

Speaker 3 (25:47):
We'll do this one more time today.

Speaker 2 (25:48):
Yes, we'll do it. We'll do it at the top
of the hour.

Speaker 3 (25:52):
Yes, there you go.

Speaker 2 (25:53):
Welcome back to the Home Loans Radio Show with that
Mortgage Guy Don. That's right, you're here. Congratulations, you're here
with us. I'm here with my crew, MG and Fritz
were doing what we do every single Saturday morning. Guess
what tomorrow is, MJ.

Speaker 3 (26:06):
Hmmm, what is tomorrow?

Speaker 2 (26:08):
This is how we got started. Earlier, I said that
fall was almost tomorrow is fall and you said not
if you live in a tropical heat basket like.

Speaker 3 (26:16):
It was something like that. But go ahead, it's fine.

Speaker 2 (26:18):
Oh well, there we go. Welcome back to the show.
You can text in your questions to seven seven zero
three one. Go ahead, m J. You got some questions
for us over there.

Speaker 3 (26:29):
Sure. And also some people are checking in. Yeah, hey
Breen Carrie, they're looking for pizza deals for Pepperoni Pizza Day.

Speaker 2 (26:37):
Oh it is National Pepperoni Pizza Day.

Speaker 3 (26:39):
I did not know that. I missed that. I saw
it was International International Eat a Apple Day. Oh so
like all around the world people are eating apples, well,
Antarctica exactly if they observe.

Speaker 2 (26:53):
Given a choice, Yeah, I'm going with Pepperoni Pizza Day.
I mean I feel.

Speaker 3 (26:57):
Like pepperoni pizza. I asked if you like pepperoni the pizza.
I think it's not.

Speaker 2 (27:03):
Pizza without PEPPERNI uh, there you go.

Speaker 3 (27:05):
I think anything other than that is something else. But
I'm a big fan of I like the apple.

Speaker 2 (27:10):
Though I probably eat four or five apples a week.
They're good for you.

Speaker 3 (27:12):
Really, all right, what's your favorite way to eat an apple.

Speaker 5 (27:17):
It's a bit personal, is it.

Speaker 2 (27:22):
Uh, First you take it out of the tropical heat basket,
and then you you know where the fruit is stored.
And then no, I like, I like, I don't like
just chomping my teeth into it. Oh, you know, like
holding it in your hand and just going at it.

Speaker 3 (27:36):
I meant like I like mine and pie.

Speaker 2 (27:38):
Oh, I like slicing.

Speaker 3 (27:41):
My favorite waiting an apple is when it sliced up, cooked,
wrapped up in bottomed sugar, and tucked into pastry. Well,
then cider comes with a little vanilla ice cream.

Speaker 2 (27:49):
Yeah, I think cider then would be my favorite way
to eat an apple.

Speaker 3 (27:51):
That's an easy way. Hey William from Titus Field, thanks
for checking in. William on the porch watching some ask
are Yeah.

Speaker 2 (28:01):
As one is wont to do on a Saturday.

Speaker 3 (28:04):
That's right, Right's right? Delivery Dan is delivering packages in Obido.

Speaker 2 (28:08):
There you go. Welcome to the neighborhood.

Speaker 3 (28:10):
So here we are. That brings us to some mortgage questions.
Here's someone says we're looking forward to taking where we're
looking to take advantage of the hometown. Hero is money?
Is there still hometowns here?

Speaker 2 (28:22):
There still is. Yeah, the Hometown Heroes program still in
full effect. That's a down payment assistance program that can
get you up to thirty five thousand, five percent of
the purchase price up to thirty five thousand dollars towards
your down payment and closing costs if you qualify for it.
Is it is occupation specific and you can go to
my Instagram at that mortgage guy don down in the

(28:43):
link tree you can see a list of all the
professions that are eligible, and it's pretty far. It's more
than you think, Like like the one of the professions
is school related, so if you don't have to be
a teacher, you could be a teacher's a. You can
work in the lunch room in a school, you can
work in the office, you can. So basically if you're
a school worker, you know, or if you're in the

(29:03):
school administration, or if you're in the medical so there's if
you work at a hospital, you know, and so there's
a lot of fields that can be included in that.
You can check it out at that mortgage guide once
if you want to find out though if you're eligible
for down payment assistance. Easiest ways to go to the
website and just do a pre approval application, and then
if you're a first time home buyer, we're going to
vet all the different programs that you might be eligible for.

(29:24):
But back to the question it was about.

Speaker 3 (29:26):
The question is can you tell me what the income
limits are for Orange County? So is it different by county?

Speaker 2 (29:31):
It's different by county because it's based on the average
median income of the county, Okay, so different counties have
different average median incomes. Roughly speaking, the family income has
to be below one hundred and twenty thousand roughly so
if you know, we'll vet that out. Depends on the county.
They also do consider all income earning adults in the household,

(29:54):
so there's there's a few factors to it. If you
have a nineteen year old that lives at home and works,
then we got a factor that and so there are
some complication. That's why I say the easiest way to
find out if you're eligible it is for us to
do the full vetting, which we can only do when
you do a you know, a pre approval application.

Speaker 3 (30:10):
And the other question was is that based on taxable
income or gross income, this person makes about one hundred
and twenty five gross You're.

Speaker 2 (30:18):
Right there on the precipice of it, depending on what
county you live in and how many people are in
your household. That's the other thing. It also goes by
number of household occupants. So I'm sorry, what was the
gross income? Yeah, anything in mortgages has to do with
your gross income, not except for if you're self employed,
then it's your taxable income on your tax returns. But

(30:38):
if you're W twoed or what have you, then it's
your gross income. That's what they're looking at. There you go,
great question. Thanks for texting that into seven seven zero
three to one. That's how you do it.

Speaker 3 (30:51):
I'm interested in first time home buyer loans. If I
apply through a lender and get a pre approval, could
another lender use that with the outcome different depending on
the lender I initially play.

Speaker 4 (31:01):
With a.

Speaker 3 (31:05):
Right, Sorry, yes, just long after the application when the
inquiry hits my credit and drops my score. Well, the
next lenders see that, so they're asking about how do
they do this process and you know, not not get
their score dinged? And yeah, and does their application follow
them from lender to lender?

Speaker 2 (31:25):
So it depends on who you're applying with. Everybody's going
to do it different. The way that I do it
is when you do a pre approval, I only do
a soft credit poll, so you're not going to get
a score. Dang. We can find out your score and
your debts and your your liabilities and your credit history
without doing a hard credit poll. So it costs me
more money to do it that way because I pay
for the soft credit poll, and then again later if
you actually move forward with the mortgage, then we have

(31:45):
to pay again for another credit poll. But I feel
like it's better for the people you know to not
have that hard credit poll. So answer number one is
you can do a pre approval and not have a
hard credit pool. You can. You can get a refinance
quote with us, or a helock quote or a reverse quote,
any of those without doing a hard credit and then
if you you know, ultimately if you move forward with
the loan, we'll have to do it. And the other
thing to say so, if you if you've gone to

(32:06):
a lender and they did a hard credit poll, any
other preapprovals or credit polls that you do in the
next forty five days will not be an inquiry. A
hard inquiry will not ding your credit So for for
hard credit approvals, you got a forty five day window
where you can shop for mortgages and go and have
eighteen lenders pull it if you if you want to,
and it won't affect you because you're in that window.

(32:28):
But simple, more direct route I think is just do
a soft credit pool, which is how I do it,
and we can figure it all out for you without
even worrying about dinging your credit. Great question, Thanks for
texting that into seven seven zero three to one.

Speaker 3 (32:41):
Here's the one that says I have a rate of
six point nine on my current VA loan and I
want to pull about one hundred thousand dollars of equity
to upgrade my house and pay off debts. Nice, should
I refinance or get a heelock? I only owe ninety
five on the house and now it is worth about
four hundred K.

Speaker 2 (32:57):
Yeah. I don't think you're in a place where you
get a helock because you're you're able to get a
lower rate on the VA loan right now, I'm seeing
well qualified VA folks in the fives right now, five
point seventy five, five point eight seven five in that range.
And even if you're even if you don't have the
top of the top credit score, you can still get
into the low sixes on a cash out loan, So

(33:18):
you're going to be able to improve your position on
the entire amount of your loan and the part, you know,
the new hundred thousand cash that you want to take out.
So I would say that probably the best BET's going
to be to do a new first mortgage in that case.
Right now, we're seeing rates the lowest we've seen in
almost three years, and if you're well qualified, you can
get a thirty year mortgage in the fives right now.

(33:40):
You know, depending on the down the down payment, depending
on how much you're putting down. That's not like a
five percent down or ten percent down. We're talking about
a twenty or thirty percent down mortgage or refinance where
you have a good amount of equity. You can get
down into the fives, fha VA and the fives right now.
So yeah, I'm telling folks, if you've got a rate,
if you've got a rate right now where you're in
the middle to high sixes or in the sevens or

(34:01):
eight so, you should be looking at a refinance. We're
doing them for folks every day now and saving people
four five, six hundred dollars a month on their mortgage payments.

Speaker 3 (34:09):
Well, that was my next question. My daughter has a
rate of six point eight seven five, lives in Panama
City Beach and wondering if it's a good time to
get a better rate.

Speaker 2 (34:17):
Yeah, you can definitely check into it. And that's why
it's super easy. You just go to the website, you
apply for the refinance side, you fill out the application,
we'll do a soft credit pull. We will put together
a quote and tell you what it is. And then
if you've already got a quote, you can also go
to the website and compare it. There's a tab that
says compare quote. You upload it there and then I
look it over and I tell you what your fees are,
which you're actually paying, what your APR is, and if

(34:38):
you can do any better, if you're leaving money on
the table. So there's a lot of resources there and
you can do that at the website or through Instagram.
At that mortgage guide.

Speaker 3 (34:45):
Don here's someone who says, with the prediction that the
FED is going to continue to lower the rate, should
I look for refinancing my mortgage or should I wait?
And they have a seven point seven to five.

Speaker 2 (34:57):
So the answer is the same. You know, you got
a rate with a high six or seven in front
of it, Refinancing now is a good time. The part
that I'm going to address is what they said in
the mid in the beginning, which is with the Fed
lowering the rate, the Fed does not actually, at least
not Yeah, the Fed does not actually control the mortgage
rates directly. When you hear the news that the Fed

(35:18):
lowered the rate, what that means is they lowered the
prime rate, which is the prime lending rate. This is
the rate that controls savings account interest, credit card interest,
if you have a floating or variable helock, Yes, congratulations,
your rate just went down a quarter of a point.
If you have a floating helock, if it's based on
the prime rate, So it affects those things instantly. The

(35:40):
mortgage rates are more controlled or more in line with
mortgage backed securities, which are in line with the ten
year Treasury. And so since they lowered the FED rate
on this past week, the ten year Treasury has gotten
worse for mortgage rates each day. So it's not an
automatic one moves the other kind of scenario. That's a
great question. Thanks for texting that into seven seven zero

(36:02):
three to one. We are going to take a quick break.
We'll go right back after these here messages.

Speaker 3 (36:08):
Hey, it's Sabrina from the News Junkie. Do you have
a question for that mortgage gud On Text him at
seven seven zero three one no. Back to Home Loans
Radio on real Radio. Hey, hey, you're listening to Home
Loans Radio. We're talking about mortgages mostly, and we're going
to do a riddle at the top of the hour

(36:30):
for the last pair of tickets that were doling out today.

Speaker 5 (36:33):
Give away some more of Moe's money, more of most.

Speaker 3 (36:36):
Comedy Jam sag excited about that. We have lots of
mortgage questions.

Speaker 2 (36:42):
That's right. If you haven't heard about the big show
coming up that just call MO Comedy What is it
the fourth annual? Just call MO Comedy Jam at the
Orlando Funnybone coming up October second, and there are still
tickets available. You can go and buy them online. But
at the ten o'clock hour, at the top of the hour,
we're going to give away a pair here.

Speaker 3 (37:00):
Stay tuned if you can answer the riddle that I
will not make up on.

Speaker 2 (37:03):
The spot with the proper answer.

Speaker 3 (37:05):
With the right answer, which I will not forward you
unless it is the right answer. Here's what it says
my rental home. I have a first I have I
have a first mortgage one hundred fifty three point five percent,
and I have a second mortgage at nine point six percent?
Should I refight any of it? Can I get a
better second mortgage?

Speaker 2 (37:26):
Well, you probably could get a better second mortgage now,
because those rates come down with prime. Those you know,
the helock adjustable rates are actually tied to prime, So
as prime gets lowered, so do those rates. But normally
if it would have to be a bigger loan to
make sense.

Speaker 3 (37:41):
Yeah, it's only forty nine thousand.

Speaker 2 (37:43):
Yeah, No, you're you're You're good where you are. You're
the three and a half's not gonna get any better
anytime soon. I don't know, maybe never. And I've only
seen rates down into the low threes like twice in
my entire career, once during code and you know, like
fifteen years before, So it doesn't happen that often. So
keep that three and a half rate regardless, and then
nine on a home equity line of credit is not

(38:05):
it's not terrible, but we're seeing rates now in the
sixes and sevens, but on a fifty thousand dollars loan,
it's not gonna be worth it to refinance with the
closing costs, and that's small alone and probably only lower
your payment ten or twenty bucks.

Speaker 3 (38:18):
Similar question. Have they have two mortgages? The first one
is it two and a half, which is even better
than three and a half they got it during the crash.
The other one is a six and a half, and
they're wondering should they refinance just the high one or
is it better to combine them. They owe about two
hundred and sixty left in their house.

Speaker 2 (38:37):
You've got a two and a half percent first mortgage rate.
You're not doing nothing. You're going nowhere fast. Yeah, there's
nothing for you to nothing to do, nothing to see.

Speaker 3 (38:43):
Yeah, just be happy about your good fortune.

Speaker 2 (38:46):
Yep, you're in the best possible shape you could be in.
Great questions. Thanks for texting those into seven seven zero
three to one. Thanks for joining the show. MJ. You
know what encryptid is?

Speaker 3 (38:56):
Encryptied like encrypted?

Speaker 2 (39:00):
Jeff, you know what a cryptid is? You probably do
from your fort Fritz expertise.

Speaker 4 (39:03):
Yes, I was gonna make a crypto joke but yes,
it is a is a heretofore not confirmed species of animal.
So it's something largely fictional but could be real.

Speaker 2 (39:17):
It could be folklore, you know, based in fulk Chloria.
We're talking about like the Bigfoot or the Florida.

Speaker 4 (39:22):
I was just about to say, MG, what what's your
favorite cryptid.

Speaker 3 (39:28):
Lockness?

Speaker 5 (39:29):
Yeah, that's good.

Speaker 2 (39:30):
There you go, that's a good one. Yeah, sascratch the
apparently there. We've in Florida that we have the skun Cape,
which is our version of the Big k It's making
a lot of headlines again. And the Tampa Bay and
in the Everglades down near Naples area.

Speaker 3 (39:45):
Uh.

Speaker 2 (39:46):
Several hikers and hunters claim to have spotted large, foul
smelling ape like creatures in conservation areas, and some witnesses
have posted photos of mysterious footprints are dark shapes if
they've spotted on trail cameras. I don't know if that's
hard evidence mysterious footprints or dark shapes.

Speaker 4 (40:07):
No, it's the same old, same old, unless they find
unless they find a corpse. By the way, the skunk
ape is also the same thing as the swamp cabbage man.

Speaker 2 (40:17):
Yes, huh, that's interesting. So nobody's ever found a corpse
of one of the acrisions. Maybe they you know, maybe
they are aliens and the aliens come and take them back.

Speaker 5 (40:27):
Sure that's one theory.

Speaker 2 (40:29):
Hmm, what's another one?

Speaker 5 (40:30):
Another theory is.

Speaker 4 (40:31):
That they're tulpa's, which are thought manifestations that over time,
if enough people believe in them, they manifest and they
become real.

Speaker 5 (40:38):
What So, for instance.

Speaker 4 (40:40):
Hauntings could be tulpas, aliens could be toulpa's. Now that
globally everyone kind of believes in aliens, the Lockness monster.

Speaker 5 (40:49):
Could be a tulpa.

Speaker 3 (40:50):
So when you say they become real, do you mean
they actually like manifest as a real thing or do
you mean that's how many people believe it, that it
just becomes as it becomes accepted as a real thing.

Speaker 5 (41:00):
Well, uh, if.

Speaker 4 (41:01):
If enough people believe in the details behind them, then
that's what that thing has. For instance, tell me about lockedness?
What is lockedness? Uh? Where does it live? What does
it look like?

Speaker 3 (41:12):
Well? I think of it as this you know, long
necked creature, like like a dinosaur, you know, and it
lives in Switzerland, Scotland, Scotland.

Speaker 5 (41:22):
Scotland lives in lockedness.

Speaker 4 (41:25):
So over time, everyone is looking for a dinosaur in lockedness.

Speaker 5 (41:29):
Tell me about Bigfoot? What does Bigfoot look like?

Speaker 3 (41:32):
Big, big, hairy guys?

Speaker 5 (41:35):
Over time?

Speaker 4 (41:37):
Everyone believes that, right, everyone believes that over time.

Speaker 5 (41:41):
What if there's more to the mind than than we realize.

Speaker 2 (41:45):
Well, we have the evidence of Harry and Henderson's I mean,
we know what they.

Speaker 3 (41:48):
Look I haven't seen that looks terrible. Therefore, I've seen
pictures of it.

Speaker 5 (41:52):
Therefore, maybe that's why we don't have corpses.

Speaker 2 (41:54):
Huh, there you go. Well, anyway, you heard it here,
probably not first, but more sightings. And I'm wondering why
the sightings are only in conservation areas. I mean, you know,
I guess that's where they like it best.

Speaker 3 (42:07):
I mean that you if you're if you're yeah, yeah,
you're live in a neighborhood, people around all the time.

Speaker 5 (42:14):
Yeah, I'm not gonna live in bel Air, right.

Speaker 3 (42:16):
And I think if you are a cryptic, your job
is to be cryptic. Like, you can't just be out
walking around. You gotta be like, hey, I'm over here.

Speaker 4 (42:23):
Nope, not Yeah, you gotta be spooky. You gotta wear
a fedora you got every now and then.

Speaker 3 (42:28):
And they know they're like, you saw me, now.

Speaker 2 (42:29):
You don't well, and they've learned about you know, ring
bell cameras and all that stuff, so they got to
stay away from neighborhod.

Speaker 3 (42:37):
Yeah, they gotta be careful.

Speaker 2 (42:38):
When you're listening to the Home Loans radio show with
that mortgage guy don we're here doing what we do.
You can text in your questions comments to seven seven
zero three one. What you got there, m J.

Speaker 3 (42:47):
If you don't have a mortgage in your house is
free and clear, can you still get a reverse mortgage loan?
Would it be based on the value of your house?
How is it based if you don't have a mortgage
in your house?

Speaker 2 (42:58):
Yeah, that is the biggest impactful way to do a
reverse mortgage is if you don't have any mortgage, then
you can you can access the equity in your home
and not have a payment any you know, not have
a mortgage payment of principle and interest. So yeah, if
you have a free and clear house, then you can
take out Depending on your age, the older you are,
the higher the percentage of what you can take out

(43:19):
of the equity, and then you can get that in
a monthly payment. Like if you have a fixed income
and you're making four thousand dollars a month on Social
Security and you own a free and clear house, you
could turn that reverse mortgage into monthly income. You could
get a thousand bucks a month, two thousand bucks a
month to supplement your other fixed income on a reverse
mortgage that you don't have to make the payment.

Speaker 3 (43:39):
Now you don't have a mortgage payment, so not only
do you not have a mortgage payment, it's free and
clear way yeah.

Speaker 2 (43:44):
So yeah, but it's a very impactful way to do it.
If you want to find out more, go to the
website That Mortgage Guide. Don fill out the reverse Mortgage QUESTIONNAIREA.
It's a one page thing with about fifteen questions basic questions,
and then we'll get our licensed to a reverse mortgage
expert on the phone with you and we'll get you
a quote. You what it would look like and how
it works. It doesn't cost you anything to find out.
Quotes are free. Do we do a soft credit pool,

(44:07):
and in fact, on reverse mortgages, we don't even need
to do a credit pool to get you a quote.
In the very beginning, you are listening to the Home
Loans radio show with that mortgage guy Don, we're gonna
take a quick break. We will be right back at
the top of the hour.

Speaker 3 (44:20):
And say how does he care? Listen till your friends
still to cave itself.

Speaker 2 (44:41):
Hey, hey, hey, hey, hey hey hey. Welcome back to
the Home Loans Radio show with that mortgage guy Don
That's me. I'm here with my crew. Good morning MJ.
Good morning mister Fritz. Citation sitations. Bringing us back with
one of Fritz's musical heat heat baskets tropical heat basket

(45:04):
of love from Florida slang, and that one's called Notes
to Myselves And thank you as always for playing your
original music on our show. What what is the what
is the what is the origin of Notes to Myselves?
What's that about?

Speaker 4 (45:19):
Darcy gave me the Paper Girls comic series, I guess
graphic novel and I read that I guess for inspiration.
There's this time traveling part, and there there was one
thing that was really cool where someone time travels and
they get lost in space because they forgot that the

(45:41):
Earth moves in space. So they went back to the
future and they were thrown off the planet. And I
thought that that was cool. And so it's like, you know,
if if your future self came to you, you know,
and said, don't trust this person kind of thing. It's like, Oh,
it's kind of some right there for a song.

Speaker 2 (46:01):
I like it. Your your your music is always thoughtful
and whenever I ask you that question, I know there's
going to be a story and it's not going to
be trite that you put a lot of thought in
uh and creativity into it. And you can follow Fritz
and you can find his music anywhere that you find
music Spotify, Apple whatever under Florida Slang or Chorus Incorporated

(46:23):
or the Real Fritz for his solo work with guests,
and you can also follow him on Instagram at no
Underscore Regrets Underscore Kyote. Welcome back to the Home Loans
radio show with that mortgage guy, don Oh, you got
a show coming up Halloween, right, Jeff, What you're going
to be? You're going to transform, You're going to become

(46:44):
Oh we said that together, You're going to become mister
the Late Great Ozzy Osbourne for one night only.

Speaker 4 (46:51):
I'm going to manifest a tulpa of Ozzy Osbourne and
then I'm going to be Ozzy Osbourne.

Speaker 2 (46:58):
Yes, now what are we are? We manifesting young Ozzy
middle aged Ozzie or it'll.

Speaker 5 (47:03):
Be like probably thirties forties.

Speaker 2 (47:08):
There you go, so you want to see. It's basically
a Ozzy tribute situation. Fritz is going to be failing
filling the role of Ozzy. That's October thirty, first Halloween
Night at Wills Pub. It's going to be a fantastic show.
We'll be there or b square here.

Speaker 3 (47:24):
Somebody says here spraying lawns and loving my Saturday mortgage
and housing lessons.

Speaker 2 (47:28):
Go all right, thank you are there. Well, guess what
we got. Also coming up the big fourth annual Just
Call Mo Comedy Jam Show at the fag Bone on
October second, Doors at seven, show at eight. It's going
to be a great lineup. We've got who's on the
lineup We've got I had a list of it here,

(47:48):
Madison back Atch, Richie, Ricky Reyes, Sean Finnerty Ross McCoy hosting.
It's going to be a lot of fun. Those are
some funny guys and if you haven't been there to
the Funny Bone. It's a fun way to watch a show.
You have like you know, there's like a bar outside
you can get a cocktail or a beverage non alcoholic
beverage you can, and then you go into the show
instead at a table, you order dinner. The food's good,

(48:09):
and then they bring you food. While you're watching the show,
you have a couple of cocktails. Then at the end,
bing bang boom, you're out of there. It's a great time.
You can still get tickets online between twenty and one
hundred dollars if you know if you want the VIP
area or what you what you want. But today we
are giving away two general admission tickets right here, right
now on the show. You're gonna need to be the

(48:29):
person that answers MJ's riddle and text into seven seven
zero three to one the answer first. The first correct
answer will win a pair of tickets.

Speaker 3 (48:39):
We're tightening this up now only only only only real
answers win.

Speaker 2 (48:45):
That's right, only one answer wins.

Speaker 3 (48:48):
So this is a riddle that has been we have
used this on the show. So if you've been a
long time listener, you have heard the answers. Ready for
its Yes, don't google it, but just try to be quick.
But you guys can't answer too quick because none to
text in. Text your answer into seven to seven zero
three one and.

Speaker 2 (49:04):
Then we're going to jump into the compare quote. Soon
as you start the riddle, we'll gather answers that while
we do the compare quote.

Speaker 3 (49:10):
All right, The riddle is, you see a boat filled
with people. It has not sunk, but when you look again,
you don't see a single person on the boat.

Speaker 2 (49:17):
Why one more time?

Speaker 3 (49:19):
Why you see a boat filled with people It has
not sunk, but when you look again, you don't see
a single person on the boat.

Speaker 2 (49:26):
There you go, guess what time it is?

Speaker 3 (49:28):
Also about boats? Don't miss the boat.

Speaker 2 (49:32):
It's time for the compare quote of the week.

Speaker 3 (49:33):
It's right, don't miss the.

Speaker 2 (49:37):
Mortgage dot com. It's a sign of the times, the
compare quote of the week. What's that? What's that? You say? Well,
that's something I came up with a couple of years
ago when I read a study that said less than
twenty percent of people compare their mortgage quote after they
get the first one. That's not good. That's not a
good idea, not a good policy. You should definitely look
around and get that peace of mind to know that

(49:59):
you have a good quote. The reason that people don't
compare their quotes because they say it's too hard. So
my mission. My goal was to create an easy way
for people to compare quotes that so that they can.
You go to the website, you hit the button that
says compare quote, you upload your quote. You tell me
your email address and your credit score. That's right. I
don't need to pull your credit to figure that out,
and then I'll tell you if it's any good or not.

(50:20):
This week is kind of a sign of the time.
We're getting a lot of refinance compare quotes right now.
And the main thing MJ is that people are seeing
a lot of times right now are the ones that
come from their servicer. You know, like you ever get
those frits where you get a letter from your bank
at the current mortgage company and we can give you
million dollars and it costs you nothing kind of letter,

(50:41):
so the go ahead, I just said, yep, yep. So
what we're seeing is that a lot of people are
getting them from their current servicer, meeting the company that
has your mortgage right now, and then what they'll do
is they'll offer you a lower rate than what you
have because they know it's refinance time. You know that
if you've got a rate.

Speaker 3 (50:58):
With US seven.

Speaker 2 (51:00):
I don't want you to refinance. They want you to
keep your loan there and keep paying them interest. So
a lot of times what they'll do is they'll preemptively
send out an offer. But without fail whenever I see
these offers, people send them to me all the time.
I get them in my own mailbox without fail. They're
never offering to lower you down to the lowest rate
that you can get. They're just getting you enough lower
that you'll stay with them, and you'll say, oh, I

(51:22):
can refinance and save two hundred dollars. This is kind
of an example of that. They currently have an eight
point one twenty five rate, and they got an offer,
a quote from their current lender offering to lower them
all the way down to seven percent, and seven percent
was going to save them about two hundred and five
dollars a month. They were they were They're like, okay,
that's worth it. We'll go ahead. We'll go ahead and
do that with the servicer. And they were charging them

(51:44):
about four thousand dollars in discount point fees for that rate.
They sent a quote into me. I was able to
get them five point nine to nine. Wow, So that's
the they're like, well, why would our lender, only our
current lender, who who you know, We've been paying them
for years and you know they love us, We love them.
Why would they only offer us seven percent instead of
five point nine to nine. Well, they're in the business.

(52:05):
Servicers are in the business of making interest money. That's
how they make their money. They collect the interest. When
your loan gets sold to another servicer, they want it
so that they can collect the interest on it. So
for them to go down, they just want to go
down as far as they can and still get you
to stay with them for another three to five years.
So when you get those quotes from your servicer, you
really want to compare those. They're ninety nine percent of

(52:26):
the time not going to be anywhere near the best
that you can get. Bottom line is I was able
to get them down to five point nine to nine,
save them four hundred and twenty dollars a month and
over four thy six hundred less inclosing cost. They had
already started to move forward with their servicer, and then
they heard the compare quote segment just like this two
weeks ago while they were driving around and decided to
find out if they could switch. Even though they had

(52:47):
started the process with their servicer, and they did. We did.
We closed two weeks later. So if you have a
quote from your service or you definitely want to compare
that before you decide to move forward. In summary, the
deal seemed done, their path was clear, yet they still
felt a tiny twinge of fear. Is this quote good?
We don't know. Let's ask that guy on the radio.

(53:09):
They took two minutes to compare and found the first
quote quite unfair. Do you have a quote and want
some peace? Compare with don so you don't get fleeced.
Play the jingle, Fritz.

Speaker 3 (53:20):
Yeah, you don't miss the boat.

Speaker 2 (53:27):
Dot com? All right, we had the big contest going on.
MJA put out a riddle and we were waiting for
answers to be texted into seven seven zero three one
to give out a one pair of tickets to the
first person to get the correct answer. I don't know
the answer. Oh till the riddle again? What was it?

Speaker 3 (53:44):
Do you know the answer? Fritz? Uh? You see a
boat filled with people. It has not sunk. But when
you look again, you don't see a single person on
the boat.

Speaker 2 (53:53):
Why did they go inside?

Speaker 3 (53:57):
What you got, Fritz? Anything?

Speaker 5 (54:00):
Say it again?

Speaker 3 (54:01):
You see a boat filled with people. It has not sunk.
But when you look again, you don't see a single
person on the boat. Keyword there, do you want? The keyword?

Speaker 5 (54:14):
Is that a couple's cruis.

Speaker 3 (54:15):
That's right. Single answer is they're all married.

Speaker 2 (54:20):
I didn't get that one. Good job for us.

Speaker 3 (54:22):
Yeah, so we got that they are all married. That
came right in pretty quick. Some other people said they ducked.
Someone said it's the Titanic. Somebody else said maybe it
got blown up by the government the log ness monster. Yeah. Uh,
and Brice said maybe people jumped the boat for a quote.

Speaker 5 (54:44):
Don't you tell me that the boat quote?

Speaker 3 (54:48):
You don't have to jump the boat.

Speaker 2 (54:49):
There you go. So who's the who's the winner?

Speaker 3 (54:51):
Who got the first I don't know their name, but
I have notified them and they are very excited.

Speaker 2 (54:56):
All right, Well, text in your name, email and phone
numbers M and we will get you your pair of
tickets in the next couple of days. Congratulations on winning
a pair to the just the fourth annual Just Call
Mo Comedy Jam at the Orlando Funny Bone Club. Added bonus,
if you go to the show, you get to I
mean maybe if you come and hang out with me

(55:17):
for a few minutes. If you're one of the first
hundred people there, I'm going to buy you a free drink,
give you a free ticket to go to the bar
and get a drink on me. It can be alcoholic
or it can be a non alcoholic beverage. You can
get a cup of coffee if that's what they serve.

Speaker 3 (55:30):
How to work? When you do that, do they bring
you the ticket later and say here's all the drinks?

Speaker 2 (55:34):
Yeah, they bring me a billity end of the night.
This is I am not It is for charity, but
I am not the charity. It's something I'm sponsoring alongside
Mo de Witt.

Speaker 3 (55:48):
Woh well, that's nice.

Speaker 2 (55:49):
I'm spending it's actual don buying you a drink. If
you're there, I'm giving you the ticket. You ticket to
the bar. At the end of the night, they give
me the pile of tickets and say pay up, mister
mortgage guy, a big shot.

Speaker 3 (56:00):
Here your tickets.

Speaker 2 (56:02):
It's a love of the game, baby, love of the game. Welcome,
you are here listening to us today, just like every day.
And what do we got cooking? We got something else
over there?

Speaker 3 (56:10):
Mjy sure, I'm looking to take some equity out of
my home. That seems to be a running theme.

Speaker 2 (56:15):
You know why. Yeah, because right now in the United States,
we have the most amount of equity ever locked up
in people's homes that has ever happened in history. We're
talking trillions and trillions of dollars in equity locked in
people's homes, and a lot of people want that equity.
They some need it, some want it. Some are paying
credit card bills, you know, twenty to thirty percent interest

(56:37):
or they can get rid of that. Some have student
loans that are super high. Others want to you know,
put in a pool or approve their their nest, so
to speak. But yeah, we're seeing a lot of refinances
right now. I'd say probably about seventy percent of the
applications we're getting in the last three or four weeks
have been refinances because the rates have gone down to
a point where it makes sense. If you've got a

(56:58):
rate into the six six and a half, seven, seven
and a.

Speaker 3 (57:01):
Half, eight years is five point nine to nine.

Speaker 2 (57:04):
Yeah, if you've got a rate up there, you definitely
want to be refinancing what was it called the rate.

Speaker 3 (57:09):
They'd like to do some home improvements, get a new
guest path. They have a rate of five point nine nine,
they want to take out seventy five grand. Do you
think a cash out refight or a helock is the
best way? Their credit score is good.

Speaker 2 (57:20):
I probably need to look at the numbers because we
have been able to get some some rates locked down
into the fives, but cash out loans have a higher rate,
so we'd have to do the math. I need to
see how big your first mortgage is and look at
the second mortgage and kind of see, Okay, basically, what's
the lower payment doing this as two mortgages, you know,

(57:41):
doing a second mortgage with a first or redoing the first.
And but that's a math equation that I would figure
out once you did the basic you know, pre approval
application at the website. Good question. Thanks for texting that
into seven seven zero three to one. What else did
I have? Had? Something else in the world of mortgage Oh?
The other that is that on cash out refinances, normally

(58:04):
for the past however many years, you can only go
up to eighty percent of the value of your home
to take out cash unless you're doing a VA loan
or an FH loan. But on a conventional loan you
could only go up to eighty percent of the value
of the home. Good news, We now have a program,
We've had it for about three months with one of
our wholesale enders where they go up to ninety percent

(58:25):
of the value. So if we are doing a first
mortgage and you need to get more of the equity out,
or you want more of the equity out, we have
an avenue for that. That doesn't you're not gonna be
able to find it at your corner bank. This is
a specific program through a wholesale leender. It's still Fanny
May backed, but it is a specific program. What else
we got You got anything for us? MJ? We got Well,

(58:50):
I think it's time for break. Grade trying to figure
out the hand signals.

Speaker 3 (58:56):
It's time for a break.

Speaker 2 (58:58):
Okay, Well, you can check out the website at that
Mortgage Guide Don dot com or follow me on Instagram.
We'll be right back after these messages.

Speaker 1 (59:06):
Do you have a question for that Mortgage Guide Don
text us at seven seven zero three one. Now back
to Home Loans Radio on Real Radio.

Speaker 5 (59:15):
Oh yea let's dart last second of the show.

Speaker 4 (59:19):
If you do have a question, you can text it
in seven seven zero three one. We'll hold it against you,
although you know probably won't get to it.

Speaker 2 (59:30):
I do I have a question there you go, welcome
back to the Home loans Radio shown. Yes, we do,
go ahead them, Jay, what do you got over there?

Speaker 3 (59:37):
Here's someone who says, I have two homes, my home
and a rental that I inherited most fully renovated. I'd
like to borrow on the equity of the rental to
purchase another small home to flip. What's my best course?

Speaker 2 (59:48):
Well, you're gonna find that when you take cash out
of a property, the interest rate is determined by the
type of property. It's determined by your credit score, the
loans to value, which they say they are, and free
and clear. So you want to borrow like maybe fifty
sixty percent of it to get the best interest rates.
But it depends you get better interest rates borrowing money

(01:00:09):
on your primary residence. So you're going to get the
cheapest money by borrowing it on your house. You know,
if you're super qualified on free and clear property and
you borrow fifty percent sixty percent of the equity, then
you're going to get a rate probably in the low fives,
I'm sorry, low sixes, high fives. Right now, if you're
if you're as you know, as qualified as you can
be on that, if you're taking cash out, it can
be a little higher, you know, load to mid sixes.

(01:00:31):
But on the investment property, you're going to find that
the rate is at least a point maybe a point
and a half higher. So you can take it out
of your investment property to buy a property and flip,
but you're probably going to be better off taking it
out of your primary if you're looking for the cheapest money.
A lot of but I understand a lot of people
don't want to put a lien on their primary. They'd
rather have the lean on the investment property. And that

(01:00:53):
is exactly why rates are higher on investment properties because
you you know, imagine you've got two mortgages. You got
one on a rental property and you got one on
the house you live in. If times get hard and
you've got a part with one or stop making a
mortgage payment on one, which one is it going to be?
It's going to be the investment property. So that's why
they are they're riskier, that's why the rates are higher.
So hit me up if you want to get we

(01:01:14):
can get your quotes on both and then you can
decide at that mortgage guy Don dot com, just fill
out the REFI application and we can put that together
for you. That's a solid question. Thanks for texting that
in big news, big news. What's that?

Speaker 3 (01:01:26):
Big news? Congratulations? Uh huh that mortgage guy Don. You
now have three thousand followers?

Speaker 2 (01:01:33):
What all right?

Speaker 3 (01:01:35):
Three thousand?

Speaker 2 (01:01:37):
How far we've come?

Speaker 3 (01:01:38):
Delivery? Dan was your three thousands fall? Three thousand follower Wow,
and has a picture to prove it.

Speaker 2 (01:01:45):
Well, time to delivery, Dan.

Speaker 3 (01:01:47):
That's amazing and I owe it all.

Speaker 2 (01:01:50):
To Fritz and the fine people that listen to this show.
Less than a year ago we had.

Speaker 3 (01:01:54):
Like three thousand five followers. How exciting.

Speaker 2 (01:01:57):
There you go. What a day?

Speaker 3 (01:01:58):
What a day.

Speaker 2 (01:01:59):
I can just go back to bed after the show
and you know, just relax. It's a it's been a
My day is complete.

Speaker 3 (01:02:05):
Okay, just call it a day. Yeah, just call it
today and say i'll see it tomorrow. I'll wake up
tomorrow to day is already so good.

Speaker 2 (01:02:12):
It'll be fall, it won't It won't be a tropical
heat basket anybody.

Speaker 3 (01:02:15):
Well, I mean, you know, probably still we'll be topical
heat basket.

Speaker 2 (01:02:19):
I don't know.

Speaker 3 (01:02:20):
How that's gonna do.

Speaker 2 (01:02:22):
Guess what time it is, MJ. Is it time for
the speed It's time for the speed round. That's where
MJ's gonna read a bunch of ask me a bunch
of the questions that you've texted in that we haven't
gotten to so far. I'm gonna try and get to
them all. But if I didn't get to yours, it
doesn't mean we didn't want to. It just means we
ran out of time. You can go to the website
or on Instagram and DM me there the question and

(01:02:43):
I'll answer it outside the show.

Speaker 3 (01:02:45):
All right, here we go, same, same, another question, the
same on theme. If I am at seven point two
five percent, is it worth refinancing right now?

Speaker 2 (01:02:54):
Probably? If you've got a loan amount over one hundred
and fifty to two hundred thousand, you know, the smaller
loan amounts it doesn't make as much of a difference.
So the normal thing you want to be able to
do is if it's a bigger loan, like over two
point fifty three hundred, then you want to come down
at least a point. If it's a smaller loan under
two hundred, you probably want to try and come down
a point and a half to two points from where
you are. So that's kind of the general, you know, benchmark.

(01:03:17):
But it's really easy to get a quote. You just
go to the website, you fill in some info, we
send you a quote at the mortgage at the website.

Speaker 3 (01:03:24):
Should I look at refinancing if I have an eight
percent rate?

Speaker 2 (01:03:27):
Sure? Yes, you should run, not walk. You need to
stop whatever you're doing. Pull over to the side of
the road. Fill out that application. We can have you
paying less interest. I had one. Well, the Compare quote
was one a good example. The Compare quote today was
a person who we were able to lower their rate
from I think seven point nine no is eight point
one two five down to five point nine to nine.

(01:03:48):
It saved them four hundred and twenty dollars a month
and pure interest. That's pure interest. That's just the profit
going to the bank. It doesn't affect your principle. You're
just giving less of the principle of the interest to
the bank. So definitely time to consider that.

Speaker 3 (01:04:01):
Here's what It's a little long, but I'm going to
read it fast. I just moved to Florida and I
want to get pre approved. I started my job July. First,
I make seventy five thousand a year salary doing same
work I did in Georgia for three years. How long
do I have to work here before I can qualify?

Speaker 2 (01:04:14):
Same answer as the last one. You can qualify now,
you know, go ahead and do your preapproval application. Yeah.
The two keywords there. One is salary, so I know
they're working forty you know they're working full time. And
the other the salary sounds like it's a reasonable amount
to be able to qualify. So I feel like you're
in good shape.

Speaker 3 (01:04:32):
Here's a question, how do I get started on a
business loan? I've got an idea, an idea.

Speaker 2 (01:04:37):
That's where everything starts.

Speaker 3 (01:04:38):
Doesn't it. You got to have to have an idea.

Speaker 2 (01:04:41):
Fritzya had an idea?

Speaker 5 (01:04:43):
I had an idea once?

Speaker 2 (01:04:44):
Yes, yeah, yeah, I'm sorry.

Speaker 3 (01:04:48):
It was the question how do I get started on
a business loan?

Speaker 2 (01:04:52):
So on my website functions for both purposes of residential
and business loans. So you go to that mortgage guide
don dot com or you can get there from Instagram
at that mortgage guy Don, and you just start there.
There's an information sheet you fill out. It's all like
a one page questionnaire like what are you trying to do?
Where are you going to do it? What kind of
experience do you have? You know, it's not going into

(01:05:12):
your financials. It's just kind of a you know, what's
your business plan? A little bit and it takes it
takes you five minutes to fill it out, and then
we get our commercial expert on the phone with you.
We have a commercial expert that's been doing that runs
the team for me that has been doing commercial loans
for over thirty years.

Speaker 3 (01:05:28):
And are you ready for a riddle?

Speaker 2 (01:05:29):
Now for riddle time. This is the actual riddle time.
No prizes associated, just bragging rights for me and the
fritz Man.

Speaker 3 (01:05:36):
All right, here we go and you if.

Speaker 2 (01:05:40):
You get it and we don't.

Speaker 3 (01:05:41):
What is black when it's clean, and white when it's dirty?
When it's clean? No, white when it's dirty.

Speaker 2 (01:05:50):
What's black when it's clean and white when it's dirty?

Speaker 3 (01:05:55):
M darn it, Black when it's clean, white when it's dirty.
What you want a hint?

Speaker 2 (01:06:03):
Oh? I have an idea?

Speaker 3 (01:06:04):
Do you?

Speaker 2 (01:06:05):
Yeah? Chalkboard?

Speaker 3 (01:06:06):
That's it?

Speaker 5 (01:06:08):
Nice winter winter chicken dinner. You're better than me in
every way, don.

Speaker 2 (01:06:15):
Wow, I'm not as humble. Thanks well folks, you did it.
You successfully wild away another ninety minutes of your Saturday
listening to us right here on National Pepperoni Pizza Day.
Go do it, have fun, Play us out of here
with something cool. Fritz, You've got it.

Speaker 3 (01:06:35):
He loss.

Speaker 1 (01:06:51):
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 on lawn at home Loansradio dot com