Home Loans Radio 10.04.2025 With That Mortgage Guy Don- Rates in the 5s again for some loans.

Home Loans Radio 10.04.2025 With That Mortgage Guy Don- Rates in the 5s again for some loans.

www.thatmortgageguydon.com

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 to 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. I'm here. We're doing it. We're
doing what we do every single Saturday for how many
Saturdays in a row? MJ?

Speaker 3 (00:29):
Three hundred?

Speaker 2 (00:31):
Well you're very close, yeah, for over three hundred Saturdays
in a row right here.

Speaker 3 (00:36):
Every Oh, I totally get.

Speaker 2 (00:37):
Single Saturday morning live on Real Radio one to four
point one here with my crew. Good morning, MJ, the
aforementioned MJ. Good morning. Also, good morning mister Fritz.

Speaker 4 (00:49):
Start on it dancing.

Speaker 2 (00:51):
Well, we're here, we're doing it. Welcome to the Home
Loans Radio Show with that Mortgage guy Don. That's right,
you can text it and live show. Seven seven zero
three one is the number two text. We are here.
It is October. Welcome to October. You like October, mjy
are you one of those people that get giddy with
pumpkin spice?

Speaker 3 (01:10):
October is not my December? No, you know, there's those
people who like, this is my Christmas. This is all
I care about. Spooky season is everything for me. It's
meth you know spooky?

Speaker 2 (01:22):
How about you, Fritz?

Speaker 4 (01:24):
Yes, this is my favorite month.

Speaker 2 (01:28):
You already have the house decorated.

Speaker 3 (01:31):
That's awesome.

Speaker 2 (01:31):
To decorate your neighbor's house too.

Speaker 4 (01:34):
If I could, I would just spray paint everything black.
What the hell are you doing?

Speaker 3 (01:39):
Shut up, Greg, don't worry about it.

Speaker 2 (01:43):
It's my Christmas. Greg.

Speaker 4 (01:45):
Don't come out of the house unless you want to
get spray painted.

Speaker 3 (01:48):
And leave these pumpkins just where I leave them.

Speaker 2 (01:52):
You carve pumpkins when you are pumpkin? Is a pumpkin
carving part of your Halloween decorations?

Speaker 4 (01:57):
I did it for the first time last year. Oh
yeah in your life? Yeah wow?

Speaker 3 (02:02):
What kind of childhood did you have that you never
carved a pumpkin?

Speaker 4 (02:05):
I was never allowed to play with knives.

Speaker 2 (02:08):
Das just you or your siblings too.

Speaker 4 (02:11):
Oh no, they were all older than me, so they did.

Speaker 3 (02:14):
Oh so you watch them do it?

Speaker 5 (02:16):
Yep?

Speaker 3 (02:16):
Maybe you were the scooper.

Speaker 4 (02:18):
I mean that would help. Yeah, you know, that's what
little brothers do.

Speaker 2 (02:21):
Yeah, well that's fine. So now that you're now that
you're a homeowner. You decided you needed your own dang
pumpkin out there.

Speaker 4 (02:27):
Right, Yes, definitely, I need several pumpkins.

Speaker 2 (02:31):
All right, Well that's great, it is October. I'm not
one of the people it's all fired up about the
latte this and the pumpkin this.

Speaker 3 (02:40):
Oh I'm I am. I am anti pumpkin things, which
I know, I know, I know, come after me, but
I'm just not about pumpkin spice. It's like a hard no,
thank you for me.

Speaker 2 (02:50):
Yeah, I've got you know, I've got an office and
there are some people in the office who like bringing
in their cinnamon broom or wherever it is. Cinnamon broom
smell makes the place smell like, you know, cinnamon and nutmeg.
And yeah, people are already. I can't. I think it
was Thursday Friday. Went in the office. People were there.

(03:11):
They're pumpkin spice. Somebody brought in pumpkin spice, cookies and
doughnuts and all this stuff. I was like, oh man,
is it time for that already?

Speaker 3 (03:20):
People like it. I'm actually going to a wedding on Tuesday.
That is a spooky wedding.

Speaker 2 (03:25):
A wedding on Tuesday.

Speaker 3 (03:27):
On Tuesday, and it is a spooky wedding.

Speaker 2 (03:30):
It's unconventional.

Speaker 3 (03:31):
It is unconventional. They're unconventional folks who are getting married.
But the guests are asked to wear black with pops
of color, nice and with spookyuta malt.

Speaker 2 (03:41):
Well, that's fun. That's an outfit outfit. Anybody can come.

Speaker 3 (03:44):
Up with your up sure, sure, well.

Speaker 2 (03:46):
That should be exciting.

Speaker 3 (03:48):
Yeah, weird.

Speaker 2 (03:50):
Well here right now, right now, you're listening to the
Home Loans radio show. I'm a mortgage expert. You can
text in your questions anything having to do with that buying, home, selling, homes, refinancing.
You got a hot burning helock question in your hand
you've been holding since last Saturday. Well, that's good, you
can text it into the show seven seven zero three one.
You can also go to the website that Mortgage Guy
Don and do all kinds of fun stuff there. Listen

(04:11):
to three hundred plus past shows of this little presentation
we do each Saturday morning. You can apply for a loan.
You can see if you're eligible for down payment assistance.
You can find out about reverse mortgages or business loans
all that at the website That Mortgage Guide Don. But
today text it into seven seven zero three to one.
And also you can follow you on Instagram at that

(04:34):
mortgage guide, Don. What do we talk about here, MJ.

Speaker 3 (04:37):
Well, we talk about lots of things, mostly mortgages. But
I did want to tell you there is a winner
in the fat bear contest.

Speaker 2 (04:45):
Oh I saw that. Yeah, well it was just about
to end. We were talking about it last Saturday in
the National Park, which was the name of the park anyway,
I can't remember. Alaska Cat Cat May Cat May, Alaska
the National Park there, they have this contest where you
can go online and look at the bears and vote
on which one is going to eat the most salmon
and get the biggest before it's time to hibernate. And

(05:08):
that ended last Sunday. And yeah, they did have a winner.
And as a matter of fact, I was prepared to MJ.
If you look at Instagram at that mortgage guy, Don,
I put a picture of the winner.

Speaker 3 (05:19):
The winner's name is.

Speaker 2 (05:20):
Uh thirty two Chunk. Chunk.

Speaker 3 (05:24):
Chunk is his name, thirty two is his bear number,
and Chunk has a broken jaw. Yeah, that's crazy, and
he still managed to get that salmon down. You know
where there's a will there's a way.

Speaker 2 (05:36):
Yeah, they have pictures of him where you can see
he's got a messed up grill. It looks like he's
been He looks like a tough bear man.

Speaker 3 (05:42):
He got all over his got his he got his
salmon in.

Speaker 2 (05:46):
He's got scratches and scars all over his muzzle, his
bottom jawl. It looks like the end of it was
just broken. So those teeth are pointing forward. It's quite
a picture. Check it out on at that mortgage guy
done or google the fat bear con test winner. But
it is a big bear here. Yeah, you got pictures
of them.

Speaker 3 (06:05):
I do, but I don't see and none of them
are of his grill. But he yeah, he won the winner.
And there weight. What do you think he weighed? I
guess you know what do you think he weighed?

Speaker 2 (06:21):
They weighed them.

Speaker 3 (06:23):
They have a number here.

Speaker 4 (06:24):
I'm going to say twenty two hundred pounds, one high
one ton.

Speaker 3 (06:29):
One thousand pounds, twelve hundred, twelve hundred pounds. That's that's
a lot, though, that's a lot of bears, A lot
of bear. What weighs twelve hundred pounds? A little car, uh,
a little car, I don't know. A lot more riding
a lot more like what weighs.

Speaker 6 (06:50):
Twelve hundred pounds, well, adult cows, moose through horses, many
small bison, and the equivalent of a than bags of cement.

Speaker 3 (07:01):
There you go, that's something I can get my head around,
all right, cement. No, I can't get an idea of that.
I mean, I mean one, Yeah, I can that that
makes sense to me. I can't. I can't get around
a moose.

Speaker 2 (07:15):
You've been slinging cement in your free time?

Speaker 3 (07:17):
No, no, I have it.

Speaker 2 (07:18):
I've never even seen a moose outside of you know,
in person.

Speaker 3 (07:22):
In the movies, yeah TV.

Speaker 2 (07:24):
I know, A trip to Canada and what was that Newfoundland?
I was there for a week. Everywhere you go, you
can't throw a rock without hitting a sign that says
beware of moose. I never saw one moose the whole
time I was there, or was there a week?

Speaker 3 (07:36):
Those signs were dangerous.

Speaker 2 (07:37):
I was disappointed. Come on, moose? Is that the plural
of moose? Mooses? Moose?

Speaker 3 (07:45):
I don't know.

Speaker 2 (07:45):
You guys are leaving me hanging here.

Speaker 3 (07:47):
A sorry, deb says she grew up in South Florida
and never carved a pumpkin until she owned her own
home in her thirties. I guess that happens.

Speaker 2 (07:57):
That's true.

Speaker 4 (07:57):
Plural of moose is moose, all right, they had to
look it up unlike geese, right, it would not be mee.

Speaker 3 (08:06):
That's what I was thinking, because if it was MEAs
that you know, that's nice. So that would be very
confusing to keep it simple up there, there's a bunch
of MEAs in my yard. It's like, oh, that's that's
no big deal. Oh wait, that's a big deal.

Speaker 2 (08:20):
So when you're talking about that. Also, after the show
last week, we went to the Pubs and Pints event
out in Mount Door. That was a lot of fun.
That was cut the dog washing and all that. That
was a lot of fun thanks to Deb and the
Culbert folks. And I saw Ross Paget out there hanging
out with his little family. It was a nice event.

(08:41):
It's always a nice event in Mount Door. It's like
it's like I feel like I'm going back to you know,
like it was that Star's Hollow.

Speaker 3 (08:48):
Okay, is that the right Gilmour.

Speaker 2 (08:50):
Girl fictional city from the Gilmore Girl.

Speaker 3 (08:53):
Yeah, I actually had that thought too. But they have
that that that pavilion that's very similar to the one
you know, right downtown.

Speaker 2 (09:02):
Right in the middle of the town's in the park.

Speaker 3 (09:04):
That is. That did ping for me as well.

Speaker 2 (09:05):
They got some cool stuff coming out.

Speaker 3 (09:07):
Except you know, that town really did smell like wet dog.

Speaker 2 (09:09):
Gotta say, maybe it's not always like that. Maybe it's
just during the big dog watching of that much.

Speaker 3 (09:15):
Smelled like wet dog. They were just dogs everywhere that
were so good wet and that's a particular smell, that
musty wet dog smell. But they were clean presumably there.

Speaker 2 (09:26):
It was a lot of fun. It was fun, good
job that was. I think the third annual will be
out there next year, assuming there's a fourth annual, that'll
be a lot of fun. Today you can text in
your questions comments salutations to seven seven zero three one.
Tell us tell MJ. What you're doing out there on
this fine day. Looks like we got a little little
rain going on. What have you got cooking over there? MJ.

Speaker 3 (09:47):
Well william says, it's a beautiful, stormy morning in Titusville
and the humidity with eighty six percent humanity in a
windy breeze. Let's learn good morning, here's someone and we
out here. My graveyard is up ghost in the window,
orange lights a glow, happy spooky season. I think they
mean snoopyright no. Spoopy is is.

Speaker 4 (10:10):
Uh oh yeah, spooky is like teach spooky.

Speaker 2 (10:14):
Okay, it means spooky.

Speaker 4 (10:17):
Yeah, spooky is spoopy is a new word.

Speaker 3 (10:19):
All right, thank you. Well it doesn't seem more efficient
than spooky, but it.

Speaker 2 (10:25):
Seems more excellent potential on the radio.

Speaker 4 (10:28):
Yes, it's just it's a it's a silly word.

Speaker 3 (10:32):
Okay, thank you.

Speaker 2 (10:35):
Fritz, A resident young person keeping us up on all
the trends.

Speaker 4 (10:41):
Forty year old, resident young person.

Speaker 3 (10:45):
It's all relative, it's all relative. Who knows, Yeah, what
counts as young? Dollywood closed? No? Really, yeah, forever.

Speaker 2 (10:56):
I never got to go.

Speaker 3 (10:57):
I know, I feel like I feel very remiss that
I know ever got to go to Dollywood.

Speaker 2 (11:01):
Why did it close?

Speaker 3 (11:03):
Just you know, they had two parks and they closed
because they had a close.

Speaker 2 (11:10):
Action reporter.

Speaker 3 (11:17):
They didn't give a whole lot of specifics except that
it's the climate, bloody blah, costs a lot of money,
bloody blah. Not working out it anyway.

Speaker 2 (11:27):
Boy, what's the difference between the frits on the street reporting? Yes,
and that's true. MJ. On the web reporting.

Speaker 3 (11:35):
That's true. That's do a very good job.

Speaker 2 (11:38):
So it had to close because of you know this
and that and bloody blah. That's funny. Yeah, I don't
we don't have to do the full journalism. Okay, I
just thought it was funny.

Speaker 3 (11:47):
Okay.

Speaker 4 (11:47):
Hindustand Times dot Com says it's not permanently closing.

Speaker 2 (11:51):
Hindu stand Oh yeah, oh yeah, that says.

Speaker 3 (11:54):
Literally permanently closes to amusement parks.

Speaker 4 (11:56):
Well, they permanently closed too, and they were the ill
do Norcross in Gwynett County and Mountasia and Marietta. They
are unrelated to Dollywood. It's the same company that owns
all three.

Speaker 3 (12:08):
Interesting that Herschel company.

Speaker 2 (12:09):
All right, cool, well there you go. There's a chance
the more you know.

Speaker 3 (12:12):
You heard it right here first on Good Dollywood.

Speaker 2 (12:16):
It's on your bucket list.

Speaker 3 (12:18):
It was here's a big al says good morning, gang.
I was so looking forward to meeting Don at Funny Bones,
but got ended on the way to the show. No,
it's no good.

Speaker 2 (12:28):
Yeah, the traffic was atrocious on oh man, Well that's terrible.
I hope you're okay. That was it was a fun show.
I have it on my list here to talk about.
We went there, had an hl R field trip there
on what Thursday, Yes, and saw the fourth annual Just
Call Mo Comedy Show. It was a lot of fun.
We're gonna talk a little bit later about it.

Speaker 3 (12:51):
It was so fun. I really had a nice time.
I was a lot I liked about that show.

Speaker 2 (12:55):
It was a well done, well organized, great great job there,
John Bus Deckord and all that.

Speaker 3 (13:00):
Yeah, a man, a lot of fun.

Speaker 2 (13:03):
You are listening to the Home Loans Radio show with
that Mortgage Guide Don. You can check out the website
at that mortgage Guide Don dot com. Also check me
out on Instagram at that Mortgage Guide Don. You want
to see a picture of the Fat Bear Winner, It's
right there at that Mortgage Guide Don, and then give
us a follow up. You're there. Chunk is his name.
We'll be right back after these messages. Hey, Hey, hey,

(13:25):
it's that Mortgage Guide Don. October is here, and so
is the Pumpkins spice. My house is feeling cozy and
quiet thanks to my impact resistant windows from Renewal by Anderson.
These windows are made right here in the US with
Anderson's exclusive Fibrix composite material, which is twice as strong
and lasts twice as long as Vinyl. Renewal By Anderson

(13:45):
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(14:05):
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Speaker 4 (14:21):
Hey, this is Devor Roberts from the Jim Culbert Show.
And you're listening to Home Loans Radio on Real Radio.
Now back to the show with that mortgage guy Don.

Speaker 3 (14:32):
Hey, Hey, hey, you're listening to Home Loans ready with
that mortgage guy Don, and we're talking about mortgages mostly.
Glad you're here. Welcome. Brian from Everness is currently driving
south heading to Santa Bell Island to enjoy a beautiful
day at the beach.

Speaker 2 (14:49):
That seems like the propety grade show the proper coast
to be on.

Speaker 3 (14:53):
I agree, you need to be heading west for the beach.
Seems like east is going to be a little store.

Speaker 4 (14:57):
I was just about to look up to Santa Bel.

Speaker 2 (15:00):
He's Santa Bell's down by kept tiva it is. They
got really damaged in the last big hurt, yes two
or three years ago.

Speaker 3 (15:09):
Yeah, really wrecked that whole island. But I think it's
come back around.

Speaker 2 (15:13):
That sounds like fun.

Speaker 3 (15:14):
Heather's heading to work at Typhoon Lagoon. Hey, Heather, love
listening to you guys on the way.

Speaker 2 (15:18):
Driving through a typhoon on the way to the.

Speaker 3 (15:21):
Lagoon, Bus Decker says, thanks for the shout out. Also,
that guy who got rear ended should call.

Speaker 4 (15:25):
Mo just he's always on you gotta love him.

Speaker 2 (15:30):
It's Saturday, Bus Decker, take a little time off.

Speaker 4 (15:33):
You know, I realized something recently. Bus Decker is the
boss that you face after the final boss of the
game and you don't beat him. He just tells you
to replay the game and get stronger. Replay the game,
get stronger. You come back and you're like, all right,
maybe I'll beat him now. He goes, Nope, go back,
try try a harder difficulty.

Speaker 2 (15:52):
Yes, you can't.

Speaker 4 (15:54):
You can't win.

Speaker 2 (15:55):
There's a lot of good. They raised a lot of
money for charity for the Yellow Road Foundation. I believe
it is a fund Yeah, and that was a lot
of fun. It was good. I think I think they
said we raised over ten thousand dollars at the Funny
Bone for the charity, So that's fantastic.

Speaker 4 (16:12):
Wow.

Speaker 3 (16:13):
And the charity that's their big fundraiser of the year
and that money sustains them for the year, so that's
pretty amazing.

Speaker 2 (16:21):
There you go. It was a good time.

Speaker 3 (16:23):
It was was MJ. I mean, me and Carrie are
listening Take Morning MJ, Non and Fritz. Then the Just
Call Most show was fantastic, very funny comics. I really
enjoyed the actual comedy on the show a lot. I
felt like it was all really funny, but not none
of it was like angry, you know, like we went
I went to one where a couple of years ago

(16:44):
where the guy just seemed like he was just so angry,
especially at the ladies, you know, just kept talking about
like women and how you know women damn. Yeah, it
was just like it was bummer. It was a bummer,
you know.

Speaker 4 (16:56):
It was like salgony is always funny, it's.

Speaker 3 (16:59):
Hysterical, you know. Also racism so fun So I enjoyed that.
There wasn't any of that that. It was just funny,
you know. It was funny in a in a way
that was not punching down.

Speaker 2 (17:10):
Had three comics. Yeah, all three were funny. Madison was
very funny. She she had some good stuff. Ricky Reyes
is funny. I've seen him a couple of times before. Yeah,
he's he's hilarious.

Speaker 4 (17:19):
What a delightful smile.

Speaker 2 (17:21):
Yes, yes, and then Sean Finnerty closed it out. He's
an Irish comedian and super super funny.

Speaker 3 (17:29):
He enjoyed all of them. They didn't have any super
cringey moments.

Speaker 2 (17:33):
You know, Sean did a lot of stuff with the audience.
So there was one point, one of my favorite moments,
he was like, we have any realtors here, and Fritz
goes yeah, in a very quiet room, and we were
also seated like what three feet from the stage.

Speaker 4 (17:47):
We were on the stage basically.

Speaker 3 (17:49):
Basically the guy in the corresponding table on the other
side had his foot on the stage with his leg
up on us.

Speaker 2 (17:56):
Rude.

Speaker 3 (17:56):
That guy was rude. He was rude, the alleged No
I could know he was. He was like arms cross scowling.
I'm like, dude, if you're in the very front row,
you at least have to be like, have a have
a kind face.

Speaker 4 (18:12):
Well, apparently he was being guarded to laugh when I
was just having a good time eating my impossible burger
and just whooping it up because I knew that the
entire place was filled with real litors. I mean, I
met Paul, didn't say anything. It was a little quieted
up for people like Paul who didn't say anything. And
then I get singled out. I'm like, this is not funny.

(18:34):
Move on, buddy, Yeah, come on, I'm just here trying
to have a good time. And then you're like trying
to ice me.

Speaker 2 (18:40):
You know, you're in jeopardy when you sit right by
the stage that a comedian is gonna focus on you
at some point for something. But he's like any realtors
here and friends goes yeah, in the as I said, quiet,
quiet room, and then so then the comedian then hears
that it comes over to focus directly on us. Yeah,
tell me about that or something like that, and Fritz

(19:01):
is just eating it's impossible.

Speaker 3 (19:03):
I don't know what you're talking.

Speaker 2 (19:04):
Then the guy looks at me. I'm sitting next to Fritz.

Speaker 3 (19:06):
He thinks I'm the one that said, well, I mean
that goes to show.

Speaker 2 (19:10):
And I'm just like, Nope, not me. I'm looking at
Fritz's impossible burger too, And then he focused on someone else.

Speaker 3 (19:15):
He moved on. Yep.

Speaker 2 (19:17):
It was a good show, a lot of good a
lot of good comedy, three comics. It was. I didn't
need any more than that. It was playing well run laughing.

Speaker 3 (19:29):
Yeah. The guy who put his whole leg on the stage,
that was something I was like, I don't know. That
felt like, I don't know, like marking the stage.

Speaker 2 (19:38):
Well, man, that's a bummer that you're on your way
to to a show and you get your rear ended
by something awful, not even your phone awful.

Speaker 3 (19:45):
Right.

Speaker 2 (19:46):
I was sitting at a traffic light this past week
and the car to the right of me and the
lane to the right, you know, we're on like a
road like a loma, waiting to go across to the light,
and the car sitting directly next to me. I'm just
kind of looking around, and all of a sudden, a
truck slams into the car next to me. Oh no,
and knocks it forward into the car in front of that.

Speaker 3 (20:07):
Oh no.

Speaker 2 (20:07):
I'm just sitting there like, man, I feel like I
just dodged a bullet of sorts. It's kind of Yeah,
it's disturbing. It's like, wow, that was really really close.
That sound that it makes. Man, when the car's.

Speaker 3 (20:17):
Hit it unmistaken, and you you just know somebody was
on a phone.

Speaker 2 (20:23):
Yeah, I don't know. The light turned green and I
moved on. I didn't see what happened.

Speaker 4 (20:26):
Yeah, it's always rough when you can see that happening
in real time. You know, like, yeah, you're like this
person is not slowing down, and like they never pump
the brakes. They're just looking at their phone and then bam,
and then it's just an explosion of plastic parts everywhere.

Speaker 2 (20:42):
I looked back to see like who was driving the
truck or whatever, I couldn't see anything because the air
bag had deployed it there. I think everybody was fine.

Speaker 3 (20:52):
I saw someone the other day driving so radically on
the highway. They were like just weaving all around, and
I thought maybe they're even having a medical issue, like
like there's something really wrong with this car. Got up close.
It's just just an old lady on her phone, just texting,
like with her phone in front of her and her
finger out like wing woop boop boop, like oh my god.

Speaker 2 (21:11):
Oh like knee driving just.

Speaker 3 (21:12):
Like I don't know what I'm just driving like all god,
she was hitting three lanes constantly. You're bouncing from lane
to lane, not in the middle lane. Yeah, just texting.

Speaker 2 (21:22):
That was one of one of the comedian Ricky Reye's'
ideas was that you just make all the highways like
bumper car arenas, right, so you just bump your way home, right. Yeah.

Speaker 3 (21:32):
Here's someone who says, my daughter was most server. He
was so generous. She worked there since she was sixteen
while she was going to college. This was Monday to
North Carolina to get a real job in aviation.

Speaker 4 (21:42):
If it's the same waitress or wait we wait waiter
waitress server server that we had.

Speaker 2 (21:48):
Makes I don't know.

Speaker 3 (21:49):
Thanks for making her night great.

Speaker 2 (21:51):
She was great.

Speaker 3 (21:51):
There you go. And here's someone who's Joey says Fritz
is a total rock star. Agreed.

Speaker 2 (21:56):
Duh. Everybody knows that.

Speaker 3 (21:58):
Yeah, everybody knows that.

Speaker 2 (21:59):
I've got four T shirts that say so, you're listening
to the Home Loans radio show with that mortgage guy.
Don believe it or not, you text into question? Is
seven seven zero three to one anything having to do
with home loans, mortgages?

Speaker 3 (22:10):
Real estate people do text. We do have some mortgage questions.

Speaker 2 (22:13):
Oh well, do tell MJ.

Speaker 3 (22:16):
Here's somebody as I'm texting to ask you about applying
for an equity loan or cash out loan on my properties.
I have three houses free and clear, and I'm working
on a major improvement and I want to use a
bank statement loan only. Can you do that? Yeah, three
free and clear properties.

Speaker 2 (22:31):
Well well done, Yeah, well done. Good, good for you.
That's a good place. A lot of people are taking
out equity. Big reason. His rates are the lowest we've
seen in about three years right now. If you're, you know,
looking to refinance, I locked loans in the five several
of them this week. You know, people that had seven
and a half rates are now down and we're able
to lock them in at five point seven five, five

(22:51):
point eight seven five. In some cases you have to
you have to have good credit scores, you know, to
get the rates down in the fives, but in fifteen
year loans down there as well. But what they're asking
about is a helock with a program, a bank statement program.
What that means is that instead of using their this
is something that's a lot of the time for self
employed folks, So instead of using your tax returns because

(23:11):
as a self employed person myself, you write off everything
the IRS will let you write off, so sometimes your
taxable income can look lower. Or if you do like
a big improvement, let's say you I don't know, you
add a warehouse or something. All that comes out of
your profit, so it may look like on paper that
you didn't make any money when you did. And an
alternative to that, we have home equity lines and equity

(23:33):
lines and even first mortgages that you can do where
we look at your last year or two years of
business bank statements and the amount of money being deposited
through the account, and that is what they use to
determine your income factor. So there's there are definitely ways
to do that. The way to get started is pretty simple.
You go to the website that mortgage guide don dot com.
You hit the apply button, you fill out the basic info.

(23:56):
We will gather those bank statements from you, do a
soft credit pull and give you a quote, and then
you know, if you like it, we'll go forward from there.
Simple as that has it going on.

Speaker 3 (24:04):
Are lots of people doing that.

Speaker 2 (24:06):
We just had We just had September was the busiest
month I've ever had since we've owned the mortgage company.

Speaker 3 (24:13):
Wow.

Speaker 2 (24:13):
So yeah, it's very, very busy. We were always busy
with purchases. But what's coming back and really quadrupling right
now are the refinances and the home equity lines. We're
seeing two things happen at the same time now. One
we're seeing the highest the record high for the number
of credits that people are holding on credit cards right now,

(24:33):
trillion in the trillions, So people have a lot of stuff.
Charge that they're paying on time on credit cards right now,
the highest this year, the highest we've had in several years.
And the other part of that is also the highest
amount of equity that people have locked up in their
homes because rates have been high, so people haven't been
refinancing to take that money out. So those two things

(24:54):
together are creating a lot of a lot of refinance activities.
So we're yeah, we're seeing the We're the busiest we've been,
and I think that that's going to continue. There's now
a prediction with the last couple jobs reports that came
out from ADP, that there's going to be, you know,
the rates, kind of another prime rate drop potentially this

(25:15):
year from the Fed, maybe two. So we'll see how
all that goes. But it's definitely heading in the consumers direction,
which is what I'd like to see. It makes it
more of a buyer's market. It makes it better for consumers.
They can lower their payments, they can lower their interests,
they can pay off interests, so all of those things
are I think good, great question. Thanks for texting that
into seven seven zero three to one.

Speaker 3 (25:36):
So I know we're not getting official jobs numbers because
the government shut down. They also shut that down, which
has not happened before, but it has happened this time.

Speaker 2 (25:43):
Yeah, the Business of Labor Statistics is supposed to put
out a report on Friday, the monthly Jobs Report of
how things went the month before. We did not get
that report, so they're basing a lot of what we're
seeing in the markets right now is because of the
ADP report, which is one of the largest payroll companies.
Still not the same as the the BLS, the Bureau
of Labor Statistics report that won't come out until the

(26:06):
til the government is back open.

Speaker 3 (26:08):
That's interesting though, that there is another another place to
get that information with a DP. So you're saying that
the that the FED will actually look at that information.

Speaker 2 (26:16):
And well, I think they take it into consideration because
it's the you know, the only jobs information that's out
right now, and it was consistent with the trends, and
it's looking like they're they're you know, I think it's
likely that they're going to do another prime reduction. The
other thing that since you mentioned it and you know
it's part of the news. The other thing that the
government being shut down affects in a big way. You know,

(26:38):
we do SBA loans and business loans that is completely
frozen right now. I have people that were days away
from closing a business loan or an SBA loan and
it just locks down and nothing moves forward until after
the government shutdown. So that's if you're in the middle
of an SBA loan or getting ready to do one,
that's definitely an immediate impact to you.

Speaker 3 (27:00):
Wow. So when it comes back around and they open it,
how hard is it to pick that back up?

Speaker 2 (27:04):
Well, it's like it's like a conveyor belt that you
shut off and when you come back, you turn it
back on. And guess what after shut down for a
week or weeks or months, then it's jammed up. It
will definitely be a logjam after they get it gone.

Speaker 3 (27:17):
And then do they have to redo things like documents
and things that are old now?

Speaker 2 (27:21):
Yeah, if anything goes over thirty days old, we have
to reproduce it. You have to you know, update it.
So it's it's definitely a mess. I remember this. The
last time it happened, there was a shutdown for I
think thirty five days or thirty nine days, and it
put the SBA loans back about about six months or so. Wow. Yeah,
so that's a bad part. It has an effect, you know,
in fact, it slows the economy. It slows people trying

(27:44):
to grow businesses. It's a part of the effect for sure.

Speaker 3 (27:47):
Is there still hometown here money available? My daughter graduated
from nursing school, past her license exam and is working
full time at a hospital. Is considering a purchase of
her first home. Does she have to work there a
certain time amount of time before she can qualify for
the Hometown Heroes or for mortgage great question.

Speaker 2 (28:04):
Congratulations on that. We're gonna We're gonna have to take
that one up right after these messages, Hey, this.

Speaker 4 (28:12):
Is Ryan from the Monsters. And now back to that
mortgage Guy Don on Real Radio. Yes, welcome back, Welcome
back Home Runs Radio. I am Fritz, We've got MJ
and that mortgage guy Don. Follow him on Instagram at
that Mortgage Guy Don. You can also go to that
Mortgage Guy don dot com and listen to past shows.
That Mortgage Guy Don, That mortgage Guy Done.

Speaker 2 (28:36):
Don't say it three times. It's like beetlejuice and I
gotta come to work on a Saturday morning wearing pinstripes.
I like pins.

Speaker 4 (28:43):
That's a good look for you.

Speaker 2 (28:44):
Actually, I gotta wait, wait a minute, what do you
what do you mean by that?

Speaker 4 (28:50):
I mean that's where you could be a star, maybe
a bullpen picture for the New York Yankees.

Speaker 2 (28:56):
All right, all right, all right, it.

Speaker 4 (28:58):
Would make you look taller six eight, six.

Speaker 2 (29:03):
Nine, uh you know, six twoish somewhere around there.

Speaker 4 (29:06):
Well, you would look six eight or six nine.

Speaker 2 (29:08):
Well done, sell all my class.

Speaker 3 (29:10):
That's how those stripes.

Speaker 2 (29:11):
Work now, the horizontal ones, they make you look.

Speaker 3 (29:14):
Shorter or like you're in prison. Ah like uh shawandadycom
Yeah yep, he got five years yet five but they
counted the time serve, so it's only four in a
couple of months. He has already been in for a while.

Speaker 2 (29:30):
So anything more than zero days in prison is too many.

Speaker 3 (29:34):
First this guy, Yeah, sure not.

Speaker 2 (29:36):
We had We had a question right before the break
we did.

Speaker 3 (29:39):
Is there still Hometown hero money available? My daughter graduated
from nursing school, past her license examine, is now working
full time at a hospital and is considering a purchase
of her first home. Does she have to work there
a certain amount of time before she can qualify for
Hometown's Hero for a mortgage?

Speaker 2 (29:54):
Hometown Heroes, Hometown Heroes, thank you for texting that in
the seven seven zero three one. That's how you do it.
Hometown Heroes is still available. There are still funds as over.
The last time I looked, which was Friday morning, there
were thirty one million of the original fifty million still left,
so it's lasting a lot longer this year because they
reduced the occupations you know, back to what it was

(30:16):
originally specific to Hometown heroes, medical employees, first responders, educational employees.
On my Instagram at that mortgage guide down there's a
link that takes you right to the page that shows
you all the professions that are eligible and it can
get you up to five percent of your purchase price
for your down payment and closing costs. So like on
a three hundred k house, that's fifteen grand that you

(30:38):
can get for your down payment, and that program is available.
It is, so it sounds like she would qualify. So
there's two questions there. One is does she have to
be there a certain amount of time to qualify for
the Hometown Heroes. The answer to that is no. If
that's where she's working, she's gainfully employed there and it's
in a place that has you know, a location in Florida,
that's one of the things. So it's a hospital in

(31:00):
provar Congrats on that though, getting going to school, getting
out of school, getting a job in a hospital. Good
job on that. And to answer your question on the education,
like when you finish school and just start working, there's
also a provision. So normally they want to see two
years in your profession. Sometimes there's exceptions for one year
or less, but the two years is not really a thing.

(31:23):
So if you're a brand new hospital employee and you
can show that you went to school, then we can
count your time in school your transcripts as part of
your two years of experience in that job field. So
the next thing to do is go to the website, apply,
and then we'll put you formally through the vetting for
the Hometown Heroes, do the pre approval process. We look
at all the first time home buyer programs when you

(31:44):
apply for a pre approval and if you're you know,
first time home buyer, and see which ones apply and
then we go from there. But yeah, pretty simple. We've
done a lot of the Hometown Heroes on so it's
a great place to if you're interested in that. Go
to the website, get started, hit the pre approval. That's
how you do it.

Speaker 3 (31:58):
Hi to do a reverse mortgage, the house have to
be paid off completely. I still one hundred and thirty
K on my mortgage. If I take cash out of
my equity with the reverse is that money taxable? So
two questions there.

Speaker 2 (32:09):
Yeah, reverse mortgage. So well, the first question was, tell me.

Speaker 3 (32:14):
The first part, they still have a mortgage.

Speaker 2 (32:16):
Oh no, you don't. You can. So when you do
a reverse mortgage, it's based on your age. So the
older you are, the more of the equity you can
take out of your house through the reverse mortgage. So
the it is not taxable. Anything you take out of
there is not taxable.

Speaker 3 (32:33):
Yep.

Speaker 2 (32:33):
And the I'm.

Speaker 3 (32:35):
Sorry, and that reverse mortgage will pay off.

Speaker 2 (32:37):
Oh yeah, it's so if you have enough, That's what
I was saying. Sorry, if the age determines the equity
you can take out, and if the equity you can
take out is more than the mortgage you have on
the house, then it just gets paid off and you
get extra on top of that. So I see it
all the time where people will pay off you know,
they got one hundred thousand mortgage left, they'll pay that
off as part of the reverse and then they'll also
get another one hundred or two hundred or you know. However,

(33:00):
the math works out that they can either put into
an equity line that grows over time. It's an it's
an interest earning equity line. Or you can get a
monthly payment, or you can get a lump sum payment
of your your funds or you can divide it over
a couple of years. Uh, there's part and there's a
portion you can't get until the second year. You do,
you can get you can draw it all out, but
you can do it. You have to do it over

(33:21):
two years for you know, for the safety and consistency
of keeping the equity there. But a great question. Thanks
for texting that into seven seven zero three to one.

Speaker 3 (33:30):
Did you see that story about the peacocks?

Speaker 2 (33:33):
No, what are they doing?

Speaker 3 (33:35):
No, it's really crazy. So, uh, it's a bus It's
very bizarre.

Speaker 4 (33:40):
Okay.

Speaker 3 (33:41):
A man ate his own pet peacocks to spite his neighbor.
His neighbor and he were having a long standing fight
because the neighbor kept feeding his peacocks and he did
not like it. So to spite him, he told him
he was going to eat the peacocks, and the neighbor
challenged that. Luckily they were fattened up by the feet

(34:01):
of the neighbor. But he ate his peacocks.

Speaker 2 (34:04):
Any chances happened in Florida, it did.

Speaker 3 (34:08):
That's a national the national thing for weird news. And
then Florida always makes the cut. Florida always makes the cut. Yep,
it was Florida said he cooked him in a frying pan.

Speaker 2 (34:19):
Well that's a I mean, peacocks are good size.

Speaker 3 (34:23):
How horrible is that?

Speaker 4 (34:24):
Yeah? Maybe maybe an animal warning next time.

Speaker 3 (34:27):
I'm sorry, trigger warning people are yep, they ate the peacocks. Yep,
it's pretty terrible. Well, problem solved, so absurd you just
feel sad.

Speaker 2 (34:42):
Well, I'm sorry, I don't know. It's just oh yeah, well,
what are you gonna do to make you better? You're
gonna raise some peakle.

Speaker 3 (34:48):
I'm gonna quick complaining about my neighbor's barking dog. I
don't want them to eat it.

Speaker 2 (34:56):
Well, that's not Yeah.

Speaker 3 (34:58):
I don't think that's how that works. That's just one
person who is clearly a little you know something going
on there.

Speaker 2 (35:05):
You are listening to the Home Loans radio show with
that mortgage guy don You can text in your comments
questions salutations to seven to seven zero three one. Where
where did that take place? What part of the Florida?

Speaker 3 (35:15):
It just says Florida. I need to look narrow that down. Yeah, matter,
it doesn't. Yeah, all right, what.

Speaker 2 (35:23):
Do you get? What do you get coming in there?
M J? We got some Let's do a couple of
those before we get too backed up.

Speaker 3 (35:29):
Don thank you so much for doing the show.

Speaker 2 (35:31):
Oh you're welcome.

Speaker 3 (35:32):
That's nice. It's so helpful. That's also nice.

Speaker 2 (35:34):
Are you just saying nice things?

Speaker 3 (35:39):
I currently live in a home that was my mom's
and inherited with my sister. I've lived there for two years.
Mom added me and my sister to the deed with
her a couple of years ago. I have a good job,
decent credit, but I've never had a mortgage. My sister
lives up north, and I need to get her one
hundred k from the equity as her share of the inheritance.
Can I get a mortgage if I've never bought a
house before. Can you help me sort this out?

Speaker 2 (36:00):
Yeah, you can get a you could refinance a home.
If you've never bought a home with a mortgage before,
that's not a problem. You're you're in a pretty pretty
good position. I think really what we need to do
is just kind of look at all the math of
the situation and make sure that you can qualify for
the mortgage. So we'd look at your credit, your employment
and so forth, and the debt ratios and figure out,
you know, if we can do a cash out loan

(36:21):
that will get you one hundred thousand out to give
to your sibling. And then as part of that closing,
there would be deed changes, you know, appropriate quit claim deeds,
putting you on there by yourself or is there three
siblings or was there two two, So the deeds would
be changed just putting you solely on the deed, and
your sister would sign something when they get their funds,

(36:42):
you know, taking themselves off the deeds. So then it
would be your house that you inherited, your mortgage on
the property, and your sister will have gotten paid. We
do this all the time if you're dealing with a
situation where you inherited property, or you're trying to split
up a property or getting divorced, or you you know,
maybe even you're not married, but you owned a house
together and now you got to figure out how to
get money out to give to one person or the other.

(37:03):
Where we are pretty good at it. A lot of
I work with a lot of local attorneys in these
type of situations getting them sorted out. So best practice.
Just go to the website and we can either set
up a time to chat and go over the details,
or you can just jump right in the application and
then we can get you the information you need and
get your quote so you can decide if it is
what you want to do. You're listening to the Home

(37:24):
Loans Radio show. We're going to take a quick break.
We'll be right back after these messages.

Speaker 3 (37:28):
Hey, it's Sabrina from the news junkie.

Speaker 4 (37:30):
Do you have a question for that mortgage guide on
Text him at seven seven zero three one.

Speaker 2 (37:35):
Now back to Home Loans Radio on real radio.

Speaker 5 (37:38):
You do do do Do Do Do Do Do Do
do doo.

Speaker 3 (37:52):
Yeah, you are listening to Home Loans Radio talking about
the mortgages. Tell us what are you thinking about mortgages?
How are you thinking about it? What are your questions?
We want to know. We can't just talk about peacocks.
Although I am really interested in this story because it's
so strange. How old do you think the gentleman is

(38:13):
who carved up his own peacocks, which he killed with
a knife and cooked in a frying pan.

Speaker 2 (38:17):
Why did he do that?

Speaker 3 (38:18):
Because he had to spite his neighbor who kept feeding
those peacocks. He was so mad.

Speaker 2 (38:22):
So this is a news story we read before the break.

Speaker 3 (38:24):
It is and then now that I've looked it's like everywhere.
It's like in the New York Times. It's all over
the place, but there with you. The rest of the
story is that he was charged with a felony account
of aggravated animal cruelty after he placed the letter in
the neighbor's mailbox telling her that he had killed two
of his peacocks because she continued to feed them. Showed her.

Speaker 2 (38:45):
So, you're not allowed to eat your own peacocks.

Speaker 3 (38:47):
Apparently not. Apparently not, But.

Speaker 2 (38:49):
You can eat your own chickens.

Speaker 3 (38:51):
I don't know, can you? What's the rule? What are
the rules if you can't eat your own peacocks?

Speaker 2 (38:56):
I mean I can go I can go the Pope's
and eat chickens.

Speaker 3 (38:59):
But right, but I don't know if you're allowed to
kill you I mean you can't go to Popeyes and
get peacocks. No, that's true, they do not have that.

Speaker 2 (39:07):
I think if there was a good commercial peacock farming,
you know, burger industry, that it would have happened by now.
But interesting, I'm curious as to why it's illegal to
kill your own peacocks.

Speaker 3 (39:18):
Someone texted in Hudson, Florida's near Tampa Saint Pete the
monsters did a whole bit for two years where they
marked every single Florida man story on a map, which
is true. I remember that, and they noted the Saint
Pete Tampa area was the largest quantity by a huge margin.
They would put pins in the map, and they had
to start putting the pins out in the ocean because
it was so full.

Speaker 2 (39:36):
That checks out.

Speaker 3 (39:37):
I think peacocks make the pin, for sure. They get
a pin. You eat your own peacocks, you get a pin.
And the weird Florida man stories I have.

Speaker 2 (39:45):
I've not eaten peacock.

Speaker 3 (39:46):
But how old do you think this gentleman was? This
is a young man.

Speaker 2 (39:50):
Let's see that seems like I would say, fifties, sixties.

Speaker 3 (39:55):
Sixty one.

Speaker 2 (39:56):
Yeah, yeah, there you go.

Speaker 3 (39:58):
Mister Craig bought lived his whole life and then at
sixty one said, you know, today's the day I'm going
off the edge. You know, sometimes those damn peacocks.

Speaker 2 (40:06):
Sometimes you just had enough and you can't take it
no more. If something's going to happen in Hudson, Florida.

Speaker 3 (40:12):
Ah, the eating though is yeah.

Speaker 2 (40:16):
You're listening to the Home Loans radio show with that
mortgage god Don we're here doing what we're doing. We've
got what two and a half segments left, So text
in your comments questions to seven seven zero three one.
Anything having to do with mortgages, real estate, business loans,
or you know, we'll ask us anything. Well, yes, anything,
we'll sort it out.

Speaker 3 (40:33):
He did say upon his release from jail, he plans
to kill all his peacocks to prevent anyone from taking
custody of them. That'll show everyone.

Speaker 2 (40:40):
Well, it seems like he'll be back, it doesn't.

Speaker 3 (40:45):
It just seems like it seems like maybe you should
quit telling everyone the crimes you're gonna do, well, you know,
writing letters about the crimes you did.

Speaker 2 (40:54):
No to self, MJ Right, if you're gonna do crimes.

Speaker 3 (40:56):
If you're I'm gonna do crimes, I should not put
letters around telling people of my crimes. There you go,
we're telling you ahead of time. Yeah, here's some one
that says I want to get a loan for a
commercial franchise, which would include buying the land, building the restaurant,
and startup funds for the business. Is that something that
you do?

Speaker 2 (41:13):
It is something that we do?

Speaker 4 (41:14):
What kind of what kind of restaurant?

Speaker 3 (41:16):
Yeah?

Speaker 2 (41:17):
Right, Yeah, it depends on the restaurant. It depends, you know,
if it's like a franchise restaurant, that's an easy thing
to do. Like if you're if you're putting, you know,
you're doing the Sonic of your own or McDonald's of
your own or something. We can do SBA loans for that. Ordinarily,
right now, because of the government shutdown, all SBA loans
have halted in their tracks. Uh And so no, no

(41:37):
SBA loans move forward or close until that's that's done with.
But yes, we can go ahead and get the ducks
in a row and start to figure it out. We've
done a lot of them, so yeah, hit me up
at the website if you if you want to do
an SBA loan or a business loan, you just go
to the website that mortgage guy don there's a commercial
information tab at the top. You just type in there
what type of loan you're doing, and it comes to

(41:58):
me and we'll get together with you and sort it
out and figure out what we can do for you.
But yeah, you can buy the land, you can build
the building. A lot of times it's easy with a
franchise because they already have all the packaging it's like
a SBA loves it like that. So if the SBA
is already done, you know, whatever overs a thousand culvers,
you know, across the country, they've got a package for

(42:18):
it already. So it's very easy. It's almost like a
turnkey thing. You just picked the land and then everything
else kind of falls into place the way that it's
designed to go. If it's a franchise, they've got it
all down, pat I mean, it happens very easily. And
even if it's not, you're gonna have your own general
contractor you're going to figure it out and we can
work with those folks as as well.

Speaker 3 (42:36):
William says, in Titusville you cannot use chickens for meat.
Maybe different other places, but I guess they have rules.
You know, you can't eat your own chicken.

Speaker 2 (42:43):
You think the rules in Hudsoner is exceptionally tight.

Speaker 3 (42:46):
I don't know. It must be because he went to jail.
Here's someone who says, I owe eighty three five on
my first mortgage. On my mortgage, which is seven point
five percent, thinking of paying twenty two twenty thousand of
it off on the principle would that make my payments lower?

Speaker 2 (43:04):
Well, not if you do it that way, Like if
you just go and make your payment and you say, hey,
here's twenty thousand, put it towards the principle, it's not
going to make your your payments lower. It's just going
to lower the amount. It'll lower the number of months
that you're paying because you'll finish pain sooner, but the
actual payment itself won't change. If you want to try
and lower the payment, you have to check with your servicer,

(43:26):
which is the entity to whom you make your mortgage payments,
and ask about something called a recast. Recast will have
specific rules. Some servicers do it, some don't offer it.
Some well, you can do it one time. Some might
have a minimum of twenty five thousand that you put
towards it. But what recast does is that they they

(43:48):
do the down and then they redivide it over the
amount of time that you have remaining, or you can
choose a different time of how much you know you
may be able to shorten that by five years on
how much you're remaining, and then reapportion the payments. So
the only way to change the payment is through that
recast process. If you just send it in, it's just
going to lower the number of months that you're gonna
pay overall. Great question. Thanks for texting that into seven

(44:08):
seven zero three to one. You're listening to the Home
Loans Radio Show with that Mortgage Guide Don. You can
go to the website That Mortgage Guide Don dot com
do all the things you do in a website. You
can apply for a loan there, listen to over three
hundred of our past shows, our past Saturday shows right there.
You can also follow me on Instagram at that Mortgage
Guide Don. We're gonna take a quick break. We will

(44:29):
return at the top of the hour. Hey hey, hey, hey,

(45:26):
hey hey hey, welcome back to the Home Loans Radio
Show with that Mortgage Guy Don. I'm gonna let you
tell her the name of this one, Fritz, because I
pronounced it wrong shot in Freud and that is from
the real Fritz.

Speaker 4 (45:42):
That is the real Fritz.

Speaker 2 (45:44):
There you go. Album two. Oh there's a bell.

Speaker 4 (45:49):
That album. That album is called enough about Me.

Speaker 2 (45:52):
There you go. You Thank you as always for playing
your original music during the show. You can follow Fritz anywhere.
I mean, you can find Fritz's music anywhere you find music,
you know, Spotify, Pandora, Apple, music and you can follow
him on No Underscore Regrets Underscore Coyote at Instagram.

Speaker 3 (46:12):
That realter, Paul says, good morning. Had a great time
to just call my comedy jam and I got to
meet Fritz.

Speaker 2 (46:17):
Good seeing you out.

Speaker 3 (46:17):
That's great guy in person as well.

Speaker 2 (46:22):
Paul won some tickets MJ's Big riddle.

Speaker 3 (46:27):
He awesome.

Speaker 4 (46:29):
You know how like when you meet someone and and
you notice that they're they're wearing a shirt and the
color just like grabs you. I was like, that's like
one of my favorite colors. It was like this light
purple pink shirt and and it was great. And like
he's like talking to me and I'm just looking at
his shirt. I'm like, I'm sorry, I gotta interrupt. I

(46:51):
love this shirt, so sorry. If I was a creep, No,
he thought it was great.

Speaker 3 (46:58):
He enjoyed the flattery.

Speaker 2 (46:59):
I think, is it like a peachy color?

Speaker 3 (47:02):
No?

Speaker 4 (47:02):
No, no, the lighting was kind of all over the
place in there wasn't all right. I thought it was
like a purple.

Speaker 3 (47:08):
Here's someone that said there was an old man who
swallowed a bird. How absurd to swallow a bird? I agree?
And then if it's your peacock apparently yep.

Speaker 2 (47:16):
Also, speaking of Fritz's music, Yeah, we got a big
exciting event coming up at the end of October, just
weeks away. Nah, Fritz is going to transmorph trans morphous
ties to change into Ozzy Osbourne for one night only,
all right, and doing a live show. I think, what
the eight songs? Ten songs? Forty songs doing eight songs? Baby,

(47:40):
that's right, there we go.

Speaker 4 (47:45):
There.

Speaker 3 (47:45):
You sound terrific. That sounds amazing.

Speaker 2 (47:50):
You have been rehearsing.

Speaker 3 (47:51):
It's so good. You know.

Speaker 4 (47:53):
It's funny every time I sing, because I was never
really properly trained to sing. Every time I do live,
I will push myself a little bit and I come
away a little horse. But this time practicing. You know,
Ozzie had an incredible range. I hope people know that
his range was really high up there for metal, but

(48:16):
even pop music, especially in his forties and fifties. So
I'm trying to like belt but also use head voice, right,
and each practice the next day I'm not horse at all,
So I'm like, this is rad, dude, Like I want
to just keep singing and keep playing. You know, I'll
be like, yeah, can we do that one more time?

(48:37):
And you know, we're all learning these songs. We're like yeah,
I'm like awesome. After that, I'm like, do you mind
if we do the first one again? And people are
like no, no at all. And then I'm like cool,
you guys want to run the set? Like yeah, I'm
like awesome. I was like, all right, let's take a
five minute break, come back in. You guys want to
do it again. Yeah, I'm like awesome, Like it's so
much fun singing Ozzy Osbourne.

Speaker 2 (48:55):
Well, I'm excited to see the results. You can, you too,
can join us at Will's Pub on October thirty. First,
they're going to be selling selling tickets or what's what's
the situation there?

Speaker 4 (49:05):
Yeah, just go to let's see if I got this right,
wilspub dot org. Yeah, yeah, Willspub dot org. You can
buy your tickets there for the Halloween show Ozzy Osbourne
also a Misfits cover sets and yeah, just a whole
bunch of fun.

Speaker 2 (49:24):
Well, I'm going to be there for sure, as long
as I don't get rear ended on the way to
the show like the poor guy did on the way
to the comedy show.

Speaker 3 (49:33):
That's no good.

Speaker 2 (49:34):
I'm excited about it. Looking forward to it. You all
can go as well. It's going to be an event.
We will be there.

Speaker 3 (49:39):
Here's someone who's looking to purchase an investment home for
four hundred and ten thousand dollars in spring Hill, Florida.
Comps on the street will fall between four seventy and
six point fifty. Looking to do a stated income, good
credit scores, large down payment. Is that something you can
help me with?

Speaker 2 (49:54):
Yeah, there's there are programs stated income. What they mean
by that is so when on certain properties I can
invest properties you can. There are programs that we have
that your typical bank's not going to have, where there
are various ways to prove your income. So it could
be a stated loan, meaning that you don't show your
own income. Like on an investment property. We can do
a loan that's called the DSCR stands for Debt Service

(50:16):
Coverage Ratio. What it means is that it's treated like
a business loan since it's an investment property. So they
look and see what the income the property will generate,
and that is how you qualify for the mortgage. You've
got to have twenty percent down of your own money,
and you've got to have a year's worth of reserves
and a like a six eighty or better credit score.
But they don't look at your actual tax returns to

(50:36):
qualify you for the loan. They look at the profit
that the business will make. And there's various ways that
we figure out what the rents are going to be
and calculate that and so forth. So if you are
someone who has good credit and you have money, and
you want to buy an investment property, then you can
do it without bringing your personal tax returns or your
personal w two income into the picture. Great question, Did

(50:57):
I answer the whole question? M Jay?

Speaker 3 (50:58):
I think so yeah.

Speaker 2 (51:01):
So that we're looking to do a business.

Speaker 3 (51:03):
Loan, an investment loan an investment home and.

Speaker 2 (51:07):
The question I think I didn't hear. The question was that.

Speaker 3 (51:11):
They wanted you stated income. Okay, so yes, we can
do and they have a large down payment, then it.

Speaker 2 (51:15):
Sounds like this would be the thing to do. The
way to find out, you know, you get started is
to go to the website that mortgage guide don and
hit the application proces, you know, do your pre approval application,
and then we can show you what the numbers look
like on that. Now, the rates are slightly higher when
you're talking about a stated loan or a loan that
doesn't require you to prove your income. But I'm seeing
them like in the sevens and a lot of cases,

(51:35):
so not super crazy, but not as low as you
can get because you can get down into the sixes
and fives on regular conventional, conforming loans right now if
you're well qualified. Great question. Thanks for texting that into
seven seven zero three to one. Guess what time it is.

Speaker 3 (51:49):
Mjoh Time to compare quote.

Speaker 2 (51:52):
It's time for the compare quote of the week. What's
that you ask him, Jay I did, I'll tell you
compare quote of the week. I want to compare quote
is something I came up with a couple of years
ago after reading the study that said the less than

(52:13):
twenty percent of people get a second quote after they
get their first mortgage que quote to compare it. And
I can tell you, uh, empirically that that's a mistake
because I see them all the time, and often the
first quote is not going to be your best the
second or in today's today's example, not even their third
quote is going to end up being the final quote.

(52:34):
They're folks that listen to the show regularly. They're probably
they're probably listening now. And they had heard about the
compare quote. They knew they were going to compare their
quote when they you know, when they were doing their
loan and this was a VA loan. So they said,
we're going to get three quotes. They're basically putting me
to the test. They said, we're going to get three
quotes and then we're going to send the best one
to don And so that's what they did. They see

(52:54):
what happened. Yeah, they're like, you know, hold my beer,
here's the quote. Beat this mortgage.

Speaker 3 (52:59):
Guy, you said, challenge.

Speaker 2 (53:00):
Except so they uploaded it at the website. It's really
easy to do. If you want to compare your quote,
you just go to the website, take a picture of
it at the button that says compare. You can take
a picture of it and upload it. You can scan it,
you can put a PDF in there, whatever works. They
went to the website upload it was a pretty decent quote.
It was a six point twenty five rate and they
were charging them as a VA loan, a six point
twenty five rate, costing around four thousand dollars in points.

(53:24):
I was able to give them five point seventy five
with two thousand in points, so you know, not a
quarter point lower, but a full half point lower in rates.
So there's four stops in between there, you know, because
they're six and a quarter six and an eight six
percent five point eight seven five. We got them down
to five point seven five, So that's a big drop
in fact, saving them over two hundred dollars a month,

(53:46):
cutting their costs in half, lowering their cost by two
thousand dollars. They they told me that they were really
surprised that they had been told by all three of
the other lenders that they had gotten quotes from that
fives were not even in the conversation right now, Wow,
and we got them not five point nine to nine,
We got them five point seven to five. Saved them
a bunch of money. They're super happy, you too can

(54:08):
get that piece of amazing. Yeah. In summary, they came
to me a quote in hand, a quote they thought
was really grand at six two five with fees galore,
four grand in costs, who could want more? I dropped
it down a half percent, two thousand less in fees
they spent. We knocked the ball out of the park
compared with don don't miss the mark, play the jingle, Fritz.

Speaker 4 (54:32):
I gotta said before I play this jingle, that is
your finest hour. Come on, Protty baby boy. That was great.

Speaker 2 (54:46):
It was so funny at the Just Call Mo comedy
show where you know, they were talking about the sponsors
or whatever, and people were singing the jingle back to
Ross McCoy a, and I was like, I had so
many people, Jeff, They're like, curse you and your jingle
and sticks in my head. I said, oh I can
right over there. There's demand to officially go blame, go

(55:07):
tell them. But we had a lot of fun there.

Speaker 3 (55:11):
You are celebrated for your jingle prowess. Thank you for
that's right.

Speaker 2 (55:14):
Hey, if you're out there and you need a jingle
for your business.

Speaker 3 (55:16):
I know a guy get a jingle.

Speaker 2 (55:18):
Hit him up at No Underscore Regrets Underscore Coyote on Instagram.

Speaker 3 (55:21):
Weed Man Joe checking in saying the best part about
fall is its harvest season.

Speaker 2 (55:26):
It is fall. Yeah, I was the other day. I
was driving to work and I did not expect us
and I looked and there was a it was a
little windy with the tropical you know, stuff off the coast,
and leaves were falling out of the trees. I'm like,
it is fall, that's actually happening. The sycamore trees are
dropping their leaves already.

Speaker 3 (55:44):
Oh wow, Well, there's not so many trees here that
do that. I mean a lot of our trees are evergreen,
so we don't have as much of that.

Speaker 2 (55:49):
I like it when it gets darkerly, that's true. Yeah,
I like it when it gets darkerly. Like I'm one
of the people that's happy when it's getting dark at
five thirty.

Speaker 4 (55:57):
Sure, then you can't go for walks, you know, it's
like it's already can dark out? Yeah, sure you can.
But what I'm saying is like, you're not you're not
visible to other motorists who are drawn at home in
the dark.

Speaker 3 (56:10):
Right, It's different More night Less Day. I'm always from
More night Less Day myself. When I go to New
York and it's like dark at four o'clock, I'm like,
that's I like it. I like it. It's cool.

Speaker 2 (56:21):
I like when you you know it's dark and you
think it's late, and you eating your dinner and you've
done all your stuff and you look up at six
twenty five, it's like, oh, all right, there you go.

Speaker 3 (56:29):
Here's someone who's saying a little bit of shade. We'll
see what you think. Uh, what you fail to mention
is how much these people are paying to buy down
those rates. My buyers just got five point four two five,
but it cost them twelve hundred dollars.

Speaker 2 (56:42):
Yeah, that's that's really kind of you know, the way
that it works. When I look at rates, there's a
there's a list of rates. There's always been, even two
years ago when the you know, the par rate was
eight percent. There's there's always a list of rates. So
when I go to quote someone a rate, there's not
like one rate that's flashing knee on there that's you
get five point seventy five. They all have there's a
par rate in the middle where it doesn't cost anything, right,

(57:03):
and if you pay a little extra, then you can
buy the rate down to the to further and further rates.
But there's a point at which it doesn't make sense mathematically.
Or if you're a little short, let's say you're short
on your clothes, it costs a couple thousand dollars, Well,
then you could make your rate a little higher and
the lender will give you the money for you know,
that shortage. But the par rate is the one in
the middle that is closest to par meaning it's not

(57:26):
going to cost you any money to buy it down
or anything to you know, you're not getting any money back.
So that twelve hundred dollars that you're buying down, you
got to look at the math. If it saves you
fifty dollars a month on your payment, well you're going
to recoup that, you know, very quickly, in less than
twelve months. So the part of deciding about a buy
down and if it makes sense is up to the buyer.

(57:46):
We don't just tell them they're going to have a
fee of twelve hundred dollars. We tell them, hey, you
can get this rate of five point four to nine
for twelve hundred dollars, or you can get five point
six for no dollars, or you can get five point
seven and it gives you three thousand dollars towards your
clothes costs. So all that when I'm dealing with people
and talking to them about locking in their rate, all
of that's part of the conversation. So we're discussing that

(58:08):
and we decide together whether they want to do a
buydown or not. A buydown and we look at the
math of how fast it pays for itself and so on.
So great question. Thanks for texting that into seven to
seven zero three to one. You're listening to the Home
Loans radio show with that mortgage guy Don you can
you can do just that. Text in your comments or
questions to seven seven zero three to one.

Speaker 3 (58:27):
I have very little income since I retired Social Security
of two thousand a month. I do have a retirement
account with about five hundred k in it that I
could use if I want to buy a home cash,
but I don't want to do that. I want to
stop renting, but I'm being told I don't qualify. My
Credit's good. I have five hundred K and retirement and
one hundred K and savings. Any solution to help me.

(58:47):
I'm seventy. Perhaps I'm just too old to buy my
first house. I'm only looking to buy a home at
two ninety five.

Speaker 2 (58:54):
It's going to be tough on the debt ratio because
that is what we you know, we use your social
Security income on a fixed income, and that's the that's
what we have to use and usually so if you're
making two thousand a month, then your house payment. The principle,
the interest, the taxes, the insurance would all have to
be you know, under about one thousand dollars a month.

(59:15):
Because of your total income, they'll let you debt ratio
with about fifty percent of that. So the only the
only way I could see really did they say their age,
they're over sixty two seventy seventy. So you could look
at a reverse purchase, a reverse mortgage purchase, and that's
where you know, you put up maybe two hundred thousand
of your own and the reverse mortgage will give you

(59:36):
the rest and you don't have to pay any mortgage
payments on it. A lot of people don't realize that.
They think a reverse mortgage is only for refinancing or
taking equity out of your property. You can actually do
a reverse purchase where you use some of your cash
as a down payment and then it's not subject to
debt ratios because it's not a forward mortgage. I think
that might be the solution for you. If you want

(59:56):
to talk about it, hit me up at the website
or on Instagram and we can and have a conversation
and I can explain to you how it works, and
we can put together some numbers and see if it's
something that might make sense. But we do them all
the time, the reverse purchases. It's exactly that when you
can't qualify but you've got cash to put down. If
you've got about fifty sixty percent of what you need
for the purchase, then the rest can be done in
reverse mortgage, depending on your age. Great question. Thanks for

(01:00:19):
texting that into seven seven zero three one. You are
listening to the Home Loans Radio show with that Mortgage
Guide Don. We will be right back for the final
segment of today.

Speaker 1 (01:00:28):
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 4 (01:00:39):
Tis the final segment of today, But you can still
text this seven seven zero three one. We might answer it.
You might save it for next week. You don't now
unless you chat in Texas. Seven seven zero three one.
I am Fritz. We got MJ and that mortgage guy
Don Don Don Don.

Speaker 2 (01:00:55):
Hey, Hey, hey, welcome back to the show. We're here,
we're doing it. What do you got, MJ? You you
got a quick question?

Speaker 3 (01:01:03):
I do I have a question. Here's a question regarding
reverse mortgages. Is it true? That when you get a
reverse mortgage, if your home value falls due to market conditions,
that you can actually owe money. I was told of
a case that somebody actually lost their home because of
a reverse mortgage. Their home value fell and the reverse
mortgage no longer paid the amount.

Speaker 2 (01:01:20):
That that was probably possible thirty some years ago. They've
they've modeled. You know, they just invented the reverse mortgage
about forty years ago, so it had some early iterations.
It's a government program, it's part of the FHA program,
and it's had changes over the years to improve it. Now.
The case is that you you can never be upside
down in any case. If it comes time for your family,

(01:01:42):
your heirrorshmever to pay off the mortgage, they always set
the payoff. If it's gone up higher, they set it
at five percent below the value of the home at
that point in time. So if values have gone down, well,
then they're going to look at that. They're going to
evaluate the property, and the amount owed to pay it
off is five percent less than what it's worth. So
that means that someone can buy it. You can always

(01:02:04):
sell it. It will never be up underwater. When you're
talking about a reverse mortgage. Great question, thanks for texting
that into seven seven zero three to one. You know,
we were just out at Point Orlando for the for
the at the Funny Bone for the just call Mo thing.
I just saw this story which is apropos because it's
going to be at Point Orlando. This from my good

(01:02:24):
friend Brandon O'Connor at the Orlando Shine. Check out the
Orlando Shine website if you want to see local news
and happenings around town, get all the scoops. Yeah, Orlando
Shine dot com. A new nightlife destination is coming to Orlando,
The Still Lounge by Dre and Snoop. Doctor Dre and

(01:02:45):
Snoop are opening a night you know, an entertainment, live hospitality,
entertainment thing there at Point Orlando is supposed to open
open soon October sixteenth, so something big. They They've got
two of them. So this is something that is coming
to Orlando. It's going to be interesting.

Speaker 3 (01:03:05):
So that out that sounds like fun.

Speaker 2 (01:03:07):
Thanks to Brandon at the Orlando Shine for breaking that story.
At least for me, that's where I found it, right.

Speaker 3 (01:03:12):
And here's just one last thing before we go to
our speed round. William wrote a little poem Okay, William,
it's so amazing makes me rise from bed on Saturday
morning with my three best friends learning of Plock's business
and fees. Wow, this show, Thank you William.

Speaker 2 (01:03:28):
Guess what time it is, MJ.

Speaker 3 (01:03:31):
Well, it's time for the speed It's time for.

Speaker 2 (01:03:33):
The speed round. That's right. That's where MJ's going to
try to get to a bunch of the questions that
you've texted into seven seven zero three, one that I
haven't gotten to yet. If we didn't get to yours
or you didn't hear the answer, that's fine, text me
after the show, hit me up on Instagram at that
mortgage guy don with a DM and I'll answer it
outside of the show for you.

Speaker 3 (01:03:54):
Here's the woman asking what is the best place to
look for insurance for a rental property?

Speaker 2 (01:03:59):
For a rental property, I don't know if they mean
as a tenant or an owner, but the answer is
still going to be the same. One of the sponsors
of the show, and someone I've worked with for decades
now is Greg Haming, one of the owners of Express
Insurance of Longwood. So look them up Express Insurance of Longwood,
or you can. There's a link to their site on
my site at that mortgage guide don dot com.

Speaker 3 (01:04:20):
Here's one is asking new listener here, do you do
loans for a beat up mobile home on a couple
acres of land?

Speaker 2 (01:04:26):
You make it, make it sound delightful. It's just like
any home. You know, if it is in good enough
shape to the you know that that the bank is
willing to lend on it. You get we have to
get an appraisal done. And if the when they do
a property on an appraisal, when they rate it, they
rate it in a condition from C one to C six,
C one, C two, C three, C four and so on.

(01:04:46):
C one is a brand new construction house, U C
six is a mess. It's probably you know, condemned, and
we can't loan on those. But if it's a you know,
if it's in between the others and it meets the guidelines,
then yeah, we can do mobile home purchases or refinances.

Speaker 3 (01:05:02):
I have an adjustable helock right now with a fed
prime rate reduction. Help if there are two more cuts
to the prime this year.

Speaker 2 (01:05:08):
Absolutely, and it's looking favorable now. The odds are saying
that we will have one more prime rate reduction this year,
maybe too, depending on what happens with the job numbers,
but that's a little confusing because there are no job
numbers during the government shutdown because the Bureau Labor Statistics
is not open, so it's going to be interesting to
kind of track that. But if the prime rate is reduced,

(01:05:32):
most people that have adjustable rate helocks are on that index,
so you would see a reduction in your monthly interest
each time the prime drops. It doesn't automatically drop mortgage rates.
That's different than an adjustable helock rate.

Speaker 3 (01:05:44):
What is the out of pocket costs to do reverse mortgage?

Speaker 2 (01:05:48):
Out of pocket costs really pretty marginal. There's a there's
a class that consumers have to take to make sure
that they understand the program and that they're educated. So
HUD has a class. You have to take it at
one of the HUD approved facilities online. That costs somewhere
around one hundred, one hundred and fifty dollars, and then
if an appraisal is required, then then that costs about

(01:06:10):
five hundred dollars six hundred dollars and that can and
both of those can be put on a credit card
and paid off at the closing because you get cash
back on a reverse mortgage. So but those are the
upfront costs, probably about six seven hundred dollars total. In
most cases.

Speaker 3 (01:06:25):
My husband and I are interested in a helock for
home renovation and some debt consolidation. How do we get
to quote?

Speaker 2 (01:06:31):
So easy? You go to the website that mortgage guy.
Don you hit the button at the top that says apply.
You fill out the side for refinance, and then on Monday, Laura,
the the helock whisperer as we call her, will send
you some quotes in your email. Simple as that.

Speaker 3 (01:06:45):
Here we go with a little riddle, riddle time, riddle time.
I carry so many eyes, but I never blink. What
am I.

Speaker 2 (01:06:54):
Carry so many eyes?

Speaker 3 (01:06:57):
Yep? It was right? There was right there.

Speaker 4 (01:07:05):
Belongs to hera, the Greek goddess.

Speaker 2 (01:07:08):
There you go, well done, Well done, MJ tying it
into the show. Look at you go?

Speaker 3 (01:07:13):
You got it. Fritz is a winter baby.

Speaker 4 (01:07:17):
I'm married to Zeus.

Speaker 2 (01:07:20):
Well done, Fritz. Hey, thank you starting out your Saturday
with a bell in your pocket?

Speaker 4 (01:07:25):
That's right?

Speaker 2 (01:07:26):
Nothing feels better right?

Speaker 4 (01:07:28):
I hit the wrong button?

Speaker 2 (01:07:32):
Did I just get buzzed? I?

Speaker 4 (01:07:34):
Oh yep?

Speaker 2 (01:07:36):
Oh, well there you go. Well folks, you did it.
You successfully wiled away another ninety minutes of your Saturday
listening to us right here on Real Radio one o
four point one doing what we do every single Saturday.
Play us out of here with something cool.

Speaker 6 (01:07:50):
For it's right.

Speaker 5 (01:08:02):
All alum.

Speaker 1 (01:08:05):
Value you've been listening to Home Loans Radio with that
mortgage guide. Don join us every Saturday at nine am
on Real Radio one oh four point one and check
us out online at home Loansradio dot com