Home Loans Radio Show 07.12.2025 With That Mortgage Guy don- Whats the craziest thing you have snuck into a Movie theater?
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
It's time for Home Loans Radio on real Radio with
that mortgage Guy. Don joined the conversation text us at
seven seven zero three one. Now here's that mortgage guy Don.
Speaker 2 (00:13):
Hey hey, hey, hey, hey hey hey, good morning, welcome
to the Home Loans Radio Show with that Mortgage Guy Don.
That's right, that's me.
Speaker 3 (00:21):
You're here.
Speaker 2 (00:22):
You did it. I'm here doing what I do every
single Saturday, and I do it with my crew. Good morning,
mj ooh it so often. You're also mindful. I hear it,
I hear it. I'm with it. Good morning, mister.
Speaker 4 (00:37):
Fritz starting a DNS.
Speaker 2 (00:41):
Oh wait, we tacked on an ouga to the beginning there.
Speaker 5 (00:45):
I've been watching a lot of the Elmer Fud carttoons.
He's funny man. That kind of makes me laugh.
Speaker 3 (00:55):
Yeah, yeah, he's funny rabbit.
Speaker 2 (00:58):
Oh yeah. A lot of the the cartoon characters don't
wear pants. You ever notice that some of them wear
shirts but no pants.
Speaker 3 (01:05):
Maybe pants are hard to draw, like.
Speaker 2 (01:07):
You know, like Winnie the Pooh or or Porky Pig.
Speaker 6 (01:10):
Doubt the Brenda Carpenter is really taking on the old
Elmer put in her everyday life.
Speaker 5 (01:15):
Now you never ever see her wear pants.
Speaker 3 (01:18):
No no, and I say, you go girl, you do you?
Speaker 2 (01:24):
I hadn't noticed that. It's a chance you have.
Speaker 3 (01:29):
She wears pants. They're just very small.
Speaker 2 (01:32):
Well that's same here they.
Speaker 3 (01:34):
Look like underpants, but their pants.
Speaker 2 (01:37):
Never know what we're going to talk about here on
Saturday mornings on the Home Loans radio show.
Speaker 3 (01:41):
Tuning in, this is a mortgage show.
Speaker 2 (01:43):
That's right, you did it.
Speaker 3 (01:46):
We're going to talk about mortgagees.
Speaker 2 (01:48):
I was reading about something recently on a newsletter that
I get well courtesy of the morning Brew newsletter they
put on there. One of my coworkers have been has
been testing the limits of what he can sneak into
a movie theater. Oh recently he brought in a full
rotisserie chicken and a mini waffle maker, which he plugged
into an outlet in the lobby and made waffles without
(02:09):
getting caught.
Speaker 3 (02:10):
That's weird.
Speaker 5 (02:11):
Is that against love?
Speaker 2 (02:12):
I don't know.
Speaker 3 (02:13):
I mean, it's just weird.
Speaker 2 (02:14):
What's here? There's a few more here. What's the craziest
thing you've ever taken into a movie theater? Here's one
that said in two percent milk and water bottles, bags
of lucky charms under my puffy coat. And plastic spoons
and a bowl in my pockets.
Speaker 3 (02:27):
I've definitely taken drinks in my pockets because I used
to always want drinks. They never have.
Speaker 6 (02:31):
Yeah, I've never done a whole like three course breakfast
meal though.
Speaker 2 (02:35):
No. I've taken in microwave popcorn that I brought from home.
Speaker 3 (02:39):
Okay, yes, I've done that. Yeah, I've done that, just
in its microwave bag, right in my dough back.
Speaker 2 (02:45):
That lady smells like popcorn smells delicious. Well, you can't tell.
Speaker 4 (02:49):
In a movie theater, everybody smells like.
Speaker 2 (02:52):
There's someone that said they took an entire steak dinner
with a bottle of champagne glasses and a folding table
to eat it on.
Speaker 3 (02:59):
That's absurd.
Speaker 2 (03:00):
Yeah, I have not gone that far. This one says
a shrimp cocktail that seems difficult to eat and probably
not smelling good. This person says, I bring in protein
drinks and workout bands.
Speaker 3 (03:17):
I did not want to be sitting by the guy
who's working out at the movie theater.
Speaker 2 (03:21):
This this person, Uh, I snuck in cat food and yes,
also my.
Speaker 3 (03:25):
Cat a movie. That means one thing to bring in
your cat, but your cat's got to eat during the
movie I.
Speaker 2 (03:34):
Snuck in oh meat, and my friend snug in a
loaf of bread by cramming into our baseball hats. That
bread's not good anymore.
Speaker 4 (03:44):
Well, there you go.
Speaker 2 (03:45):
I thought that was interesting. Sure, if you haven't snuck
anything into a movie theater, I think this is a
challenge for you, MJ. I think you know what, what
would what do you think you? What do you think
you would be?
Speaker 3 (03:55):
I have stuck quite a bit in movie theaters. There's
a part of my time that I was, you know,
financially challenged, so there was just no way I was
going to be able to afford any of those snacks
that were, you know, the price of rent.
Speaker 4 (04:09):
So eleven whatever.
Speaker 3 (04:11):
So yeah, man, I always had a little baggy of
something yeah from my house.
Speaker 2 (04:16):
Yeah, And and.
Speaker 3 (04:18):
Beers in our socks.
Speaker 4 (04:19):
Somebody says, I like that, Well, now I got news
for you to.
Speaker 3 (04:23):
Feed your bell bottoms. But I like that. I like
the where that's going.
Speaker 2 (04:26):
Piers in your socks. Someone texted that in the seven
seven zero three, when's.
Speaker 3 (04:30):
Text in what you brought to a movie? I mean,
keep it clean, but I don't care what you say.
I can decide whether we put it out there.
Speaker 2 (04:36):
I'd be impressed if somebody could get a whole pepperoni
pizza in there.
Speaker 3 (04:39):
Yeah.
Speaker 6 (04:39):
I just fold it up, put it in their pocket.
No lugging, Like as you're walking that security make the
box into a hat.
Speaker 2 (04:48):
You're just it's you're going in wearing a trench coat
and it's ninety six degrees out in Florida.
Speaker 3 (04:53):
And you open it it's full of beer.
Speaker 2 (04:55):
Were I was thinking of pepperoni pizza on each side
hanging there. Yeah, you know, we're a big slih burrito.
Speaker 3 (05:01):
Definitely had a burrito in the movie theater before. And
if you go to the Enzion and you get used
to eating in the dark, you know some foods are
better than others.
Speaker 2 (05:11):
Well you yes, but be careful what you say.
Speaker 5 (05:16):
Yes.
Speaker 3 (05:16):
Yeah, Well lately, whenever I've gone to the Zion the
last couple of years, the lights have stayed pretty up. Yeah,
you know, they used to be dark. You used to
get really dark in there. So it's my favorite. But
if you like dig into your nachos in the dark,
like you don't know if you've got like a nacho
full of sour cream or a nacho full of plapinos.
Speaker 2 (05:33):
That is the thing you have to weigh when you
go to where those theaters where you are eating in
the dark, is the level of difficulty of what you're like,
you know, chicken wings or nachos in the darkest.
Speaker 3 (05:42):
Even salad. It's like you're trying to get a bite
as salt. You're like, I don't know what's on this fork,
but here we go. It's like all the Peppertini's okay.
Speaker 2 (05:51):
Eating salad in the movie theater. We'll see there you go.
There's a benefit.
Speaker 3 (05:58):
But now they keep the lights up so a little
bit so you can see.
Speaker 2 (06:01):
Well, that's because you were sneaking in beers in your socks.
Speaker 3 (06:05):
That would be rude at.
Speaker 2 (06:07):
You are listening to the Home Loans radio show with
that mortgage guy Don We're here every single Saturday. That's right.
I'm a mort mortgage expert and you can text in
your questions to seven seven zero three one. We were
a live show. We're here, we're doing it.
Speaker 5 (06:20):
Yeah.
Speaker 2 (06:22):
Last week was fourth July. I heard of mortar last
night at like midnight. Really, I was shaking my fist.
Well it's been a week and it wasn't far. I
think I know who it was down the street all right,
Mortar time is over right? Is that fair? Should it
be like the entire month of July been mortars?
Speaker 3 (06:42):
No?
Speaker 6 (06:43):
No, you know this was This was the quietest July
fourth I think we've had.
Speaker 2 (06:48):
I disagree.
Speaker 3 (06:49):
I feel like mine was pretty quiet. I mean it's
some on the night, but I mean I've lived places
where that went on for weeks.
Speaker 5 (06:56):
Like like last year.
Speaker 3 (06:58):
Yeah, oh yeah, two o'clock on a Monday.
Speaker 6 (07:01):
Yeah, everyone looked around and realized that they were the
only one on their city block happy about July fourth,
and they stopped.
Speaker 5 (07:10):
That's what it seemed like.
Speaker 2 (07:12):
Somebody in my neighborhood.
Speaker 5 (07:13):
It was a collective shame that we had this year.
Speaker 2 (07:16):
Oh yeah, maybe so, but uh, I don't know if
it seemed noisier. It seems like, well, it seemed like
they started a week before the fourth of July and
they're still going on a week after the fourth of July.
So I feel like it stretched out to a two
week period in my area. Either that or somebody bought
all the fireworks and feels like they must get rid
of them.
Speaker 3 (07:33):
I don't mind. Just don't do what I'm trying to sleep,
so stop doing it. At noon, I.
Speaker 2 (07:41):
Thought that was private. I thought, you know, your sleep
schedule is your own business.
Speaker 3 (07:46):
I jest. I here's someone who says, I go to
the movie theater and the mall. I bring popcorn, pop
from home, snacks from home. I buy a beverage downstairs
in the food court, go upstairs and grab a ticket
for the movie. I put everything inside a game stock bag.
They're not going to stop me because they think I've
been shopping at that mall. That's funny.
Speaker 2 (08:04):
They're like, here comes GameStop guy again. Think any slick.
We just don't want the confrontation like last time.
Speaker 3 (08:10):
The other thing that's awkward in the movie theater now
is often there's not many people in the theater, so
you know that guy upstairs is just like you know, oh,
there's that one lady in there, you know, making a salad.
Speaker 2 (08:21):
I used to work in a place, so it's like
kind of a cubicle farm. You're like one hundred cubicles
in one big room. And they made it a rule,
like some people would eat at their desk, but they
made it a rule if you had smelly food, you
had to go to the kitchen. Like you could not
sit at your desk and open up a can of
sardines or a can of tuna. Oh my god, you know,
and set off a tuna bomb. And so tuna might
(08:42):
be a fun thing to sneak in the movie theaters.
Speaker 3 (08:44):
Sure. KIPPERD Snacks. I don't know what it is, but
it's a can of some very smelly fish that my
mama used to eat. It felt like it's KIPPERD snacks.
I think it's a kipper the fish. I don't know.
Researches on it. It's a little can and it says
KIPPERD snack.
Speaker 6 (09:00):
Kipper is a whole herring of small oilyfish.
Speaker 3 (09:04):
Smelli wa sell it. Yeah, yeah, that's what I like.
Oi fish.
Speaker 2 (09:09):
You can texting your questions, comments, salutations, tell us what
you're doing out there, or asking mortgage question.
Speaker 3 (09:14):
We have some mortgage questions.
Speaker 2 (09:15):
All right, maybe maybe I'll be in the mood for that.
One day we finished talking about kippered snacks.
Speaker 3 (09:21):
Somebody also reminds us that, you know the Rocky hor
Picture Show, a lot of stuff got snuck in the theater.
Speaker 2 (09:26):
Oh yeah, well, of course, toasts, what toilet paper and
yeah that was.
Speaker 3 (09:32):
A particip involved. So whatever one group was doing, you know,
now they're doing something else. I'm sure it's.
Speaker 2 (09:39):
Involved like a game of telegraph, though, because I think
it went wrong, because some of the things I just
don't understand. Yeah. I haven't been to a Rocky horror
picture show, uh, you know, participatory event in quite a
long time. I remember going to one back in the day,
like in the nineties where they searched people on the
way in making empty out your pockets of toast and
then people still figure it away. Yeah, well, but I digress.
(10:03):
You're listening to the Home Loans radio show. You can
text in questions about anything having to do with the
mortgages Home loans, want to buy a home, sell a home,
refinance a home, questions on reverse mortgages, elocks.
Speaker 4 (10:12):
Yeah, it was business loans.
Speaker 3 (10:14):
I was talking to a friend recently and they were
lamenting the situation that their parents were in where they were.
They they had a house that they owned, very fancy
house that they owned, and it needs a bunch of
work and they're trying to figure out how to will
it to the kids in a way that they'll be
able to do this work. And I was like, you know,
you could you might consider reverse mortgage And they're like, wait,
what is that. I mean, it might be a way
(10:37):
that you could do all that work for sure, and yeah,
I don't know if they're going to look into It's
weird when when you like, because we do this show,
we know stuff, when you tell people, it's almost like
you're selling it. I don't know, Like I don't want
to be telling my friends, hey, you should do this, right,
but at the same time, I want to tell my friends, hey,
you should do this.
Speaker 2 (10:53):
Well, give them my number.
Speaker 3 (10:54):
Yeah that's what I said, look at that, but that's awesome.
Speaker 2 (10:57):
We're probably working on at least a dozen reverse mortgages
right now, and that is the common theme on I think,
with maybe one exception, that is the common thing. Whereas
people that are retired, they have a house that's paid for,
house that used to be where two or three hundred,
five or ten years ago, and now it's where it's
five or six hundred, and they've got a good amount
of equity in there, but they're living on, you know,
(11:18):
retired income, so they can't debt ratio for a heelock
or for a forward mortgage. And then you get to
the point where I have a couple right now where
their insurance has been canceled because their roof is leaking.
Have one that has They couldn't get insurance anymore because
they had aluminum wiring and they have to rewire the house. Yeah,
some older house. This is like one hundred year old house, Yes,
(11:41):
and they can't get insurance and they don't to rewire.
One hundred year old house is around one hundred thousand
dollars prospect is what the quotes they've been getting, and
they had no way to come up with a one
hundred grand So they're in the you know, a situation,
do we sell this house and move into something way
less cool than our one hundred year old, free and
clear house, or you know, do we find a way
(12:01):
to do it. So that's a very common theme with
reverse mortgages that you know, if you're retired in on
a fixed income, you have to be over the age
of sixty two. But it allows you to take out
cash or equity, get lump some payments even or get
monthly payments delivered to you and then you don't have
to pay a mortgage payment on it. You just pay
your taxes and insurance and your HIA. Still, but it
(12:23):
definitely works for a lot of folks. That can be
kind of a lifesaver in those situations where you're up
against it. You have no way to repair the roof
or the electric and no way to get the money,
and the reverse mortgage can be a big savior for
a lot of people.
Speaker 3 (12:35):
Here's the one's asking why can't a seller request a
new appraisal if it's faha, even if all parties agreed
that the appraisal was so poorly executed. Even when you
get a dud and everyone knows it's a dud, maybe
it was his first day.
Speaker 5 (12:50):
Everybody, like everybody knows it sucks.
Speaker 3 (12:52):
Everybody looks at it and goes, uh uh, not right,
not cool. Well, disagree just because you don't like the
color mob doesn't mean you can in my house.
Speaker 2 (13:01):
But it's it's subjective. So you know, when they say
everyone disagrees, what I usually hear is that they disagree
on the price. But when you go in and analyze them,
uh and look at the comps where that were available,
and the ones that are most similar, the ones that
are closest, the ones that are the most recent, the
ones that are the same square footage, the same age.
You know, a lot of times people want to compare
(13:22):
them with something two neighborhoods over, you know, that's worth
a lot more and not the house next door that sold,
you know, for for less than what they're looking at.
It's it's the appraisals are certainly subjective.
Speaker 3 (13:34):
Uh, what if one is really bad? Just like everyone
looks at and goes, all right, this guy does not
know what he's doing, like he's new, like and you
go to his supervisor and say, like, what's up with
this appraisal?
Speaker 2 (13:43):
Doesn't it doesn't happen because when you're new, you have
a supervisory appraiser that has to sign off on your appraisal.
I see, So there you're you're you're on training wheels
for your first couple of years as an appraiser. There's
a there's a rebuttal process that you can do. If
your realtors find other comparables that you think should have
been used, you can put together rebuttal and they you know,
we send it into the appraiser and they consider the properties.
(14:05):
Sometimes something has sold that's not you know, in the
regular listings, or a cash sale or something like that
that they can add in and I al would say,
frequently we get appraisal values adjusted by providing additional evidence.
But you can't just go and say I don't like
what the appraiser said. It has to be based on
some other evidence that we provide that changes the appraisal.
(14:27):
Great question. We're going to take a quick break. We'll
be right back after these messages. Hey, hey, hey, it's
that mortgage guide Don July is here and the summer
is sizzling. But my home is feeling cool, quiet and
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(14:47):
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(15:09):
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Speaker 3 (15:32):
Hey, this is Devil Roberts from the Jim Culbert Show.
Speaker 5 (15:34):
And you're listening to Home Loans Radio on Real Radio.
Speaker 4 (15:38):
Now back to the show with that mortgage guy Don.
Speaker 3 (15:42):
Hey, Hey, you listening to Home Loans Radio today. We're
gonna talk about some mortgage stuff. You're here for it.
Speaker 2 (15:50):
You want it, that's right.
Speaker 5 (15:52):
That's right.
Speaker 3 (15:53):
You didn't know you needed it, but you'll be glad
once you have it.
Speaker 2 (15:55):
Text into seven seven zero three one. Yes, we are
here live today in the middle of the summertime. Summer.
Summer's in full force.
Speaker 3 (16:04):
It's so weird to think it's the middle of the summer.
Speaker 5 (16:06):
But I meant.
Speaker 2 (16:09):
The uh. It's still hurt of mortar. Last night, people
a week after the fourth agir.
Speaker 3 (16:16):
Celebrating the summer, Continuing to celebrate, here's someone who says,
if you've got a quote for one hundred thousand dollars
to rewire a house, you might just want to buy
a new house. I'm an electrician, and that is ridiculous.
They should shop that around.
Speaker 2 (16:29):
There's something to do with the historical facade has to
be preserved because it's in a it's a historical home,
and that apparently jumps up the difficulty. But you know,
maybe maybe so Yeah, I don't know that that's what
they said. One hundred thousand dollars quote to rewire the
entire home so that it can get insured. But you
(16:52):
know they've had it for since the eighteen hundreds that
somebody has, so yeah, maybe you got to update it
from time to time.
Speaker 3 (17:02):
Joe and Delan is finishing the painting the wings today. Wow, congratulations.
Speaker 2 (17:07):
Well let us know when the inaugural flight has just
been working on a building plane an aircraft's uh self
driving air not self driving an aircraft for themselves to fly.
Speaker 3 (17:18):
I mean, the self driving car is scary, but the
self driving airplane no, thank you.
Speaker 2 (17:22):
Yeah. Yeah, they're really good, except for the takeoffs and landing.
Speaker 3 (17:26):
That's the tricky part. Good morning, team, Mortgage being carried that.
We brought the entire dollar store into the movie theater, snacks, candy, sodas,
even monopoly in case we get bored.
Speaker 2 (17:39):
Wow, yeah, we get that board in a movie. You
need to just go on out to the lobby and you.
Speaker 3 (17:44):
Bought a board in in case they get bored. You know.
Speaker 2 (17:47):
Nice.
Speaker 3 (17:47):
Here's someone who says, why is it hard to get
pre approved when you own a business.
Speaker 2 (17:52):
Well, it can be challenging, but there are also some
loans that are open to self employed people that aren't
available for other people. A lot of times it has
to do with the way you file your taxes. That's
the first, you know, first hurdle when people are doing
are self employed and are doing a loan, then you
have to use two years history of your tax returns,
and a lot of times people will write off expenses
(18:13):
or big capital improvements. You know, you have somebody that
could show you know, they might have made five hundred
thousand dollars in their business, but they put four hundred
into a warehouse and bought a new car for the company,
and bought this or that, and then all of a
sudden you write that. Often it's like he looks on
paper like you didn't make any profit that year. So
that can be tough depending on how your taxes are filed.
(18:35):
But there are other options for self employed people that
you can't do if you're not self employed, like using
your deposits into your bank statement. So like if you're
a business that has a lot of cash incoming, we
can use your bank statements instead of your tax returns.
We can use your ten ninety nines in some cases
instead of your tax returns. So there's options out there
(18:56):
for self employed people to pursue. So if you've got
turned down for self employed loan at your bank or
what have you, they're probably not going to have a
bank statement loan. This is something I have because I'm
a wholesale mortgage brokerage. We have over one hundred different
lenders that we can do business with, and some of
them allow other ways to prove your self employed income.
But you're typically not going to find a loan like
that at the bank or the credit union or wherever.
(19:18):
You're going to have to go to a brokerage like myself.
And you can start that journey at that mortgage guide
don dot com.
Speaker 3 (19:24):
How do you do it?
Speaker 2 (19:25):
You just go there, hit the apply now button for
a refinance or a purchase, and then we'll jump in,
do a pre approval, do a soft credit report, and
let you know what we see?
Speaker 3 (19:36):
All right? And what about a reverse mortgage? How do
you do that? Isn't it just a questionnaire?
Speaker 2 (19:41):
Yeah? On the website, there's a form, like a one
page form you fill out if you have questions about
a reverse so it can get you a quote. You
can do it right there at the website. You can
also follow me on Instagram at that mortgage guide Don,
and if you're so inclined, give us a follow there.
But also we've been nominated that I've been nominated. My company,
Happy Homework has been nominated as the best local financial institution.
(20:04):
You can vote for us there at the Weekly Please please,
and thank you. You know you eat local, your shop local?
Why not mortgage local?
Speaker 5 (20:12):
Yeah?
Speaker 2 (20:13):
Support support. You know, I'm a small local business. So
to throw us a vote there you can all kind
of talk, yeah, thank you for noticing. You can you
can kind of. You can also go there at the
at the bio of my instagram at that mortgage Guy, Don,
you can there's another link where you can vote. I
was also nominated for best Local Radio Voice. And either
(20:33):
give me encouragement or discouragement there as you see fits
at that mortgage Guy Don on Instagram. What you got him, Jay,
you got some questions coming in there.
Speaker 3 (20:42):
Yeah, here's one. I'm seventy seven and my husband passed
away last year. Where are we were already on a
fixed income and he's passing cut that even less. I
want to know if you think reverse mortgage would help me.
I only have about ninety thousand left on the mortgage,
but the payment is twenty six hundred a month, and
I'm taking about one thousand a month from savings cover
the shortage. This is not a long term solution and
(21:03):
I want to keep my house.
Speaker 2 (21:04):
Yeah, so sorry for your lost it another thing to
check into that. You know, we talk about the homestead
exemption to get your property taxes down lower, but a
lot of people don't realize that if you become a
widow or widower, you can also go to the county
and let them know that and your taxes can be reduced.
You can get a tax reduction because of that.
Speaker 3 (21:23):
Well, there you go there something.
Speaker 2 (21:24):
Yeah, and yeah, I think a reverse mortgage might very Well.
You know, if you're taking one thousand dollars out of
savings each month and you've got ninety thousand dollars, well
that means you're kind of on a clock and you know,
get ninety months, that's that's what eight years, seven eight
years or eight and a half years, So that's not
that's not a lot. But you know, we can definitely
talk about it. We do a consultation on the phone
(21:47):
with people that want to do a reverse or you
can come into the office, or you can fill out
the questionare online. But the way we do it is,
you know, we put we it's not even contingent on
your credit score, but we'll we'll do the application, I mean,
the the information form that you fill out online and
then we put a quote together and then we review
it with you. So we can do that in person
or on the phone however you want to do it,
(22:08):
and then if it makes sense, then it takes about
twenty thirty days to get it closed and get everything sorted.
Speaker 3 (22:13):
Wow, could be the answer to all the problems right there.
You could be it.
Speaker 2 (22:18):
You're listening to the Home Loans radio show. You can
text in at seven seven zero three one join the conversation.
We are live doing what we do every single Saturday
for over three hundred and five saturdays in a row.
Speaker 3 (22:29):
When you say it like that, it seems like a
long time.
Speaker 2 (22:32):
Well, it's it's not a lot if you're doing five
days a week shows, but if you're doing only one
every Saturday, three hundred and five is a long time.
Is a while?
Speaker 3 (22:40):
Yeah, I would like to do a helock on my
home my partner that my partner and I own outright.
We tried to get one at our bank, but we
were turned down. We own a good business, but income
looks low on the tax returns due to our write offs.
Do you think you can help me own their house
outright and they want to get a helock.
Speaker 2 (22:57):
Yeah, there's a couple things there.
Speaker 4 (22:58):
One.
Speaker 2 (22:59):
I don't know if if the helock is necessarily the
right vehicle. It depends on what you're getting cash out for.
Like if you're getting cash out for a pool or something,
you know, a new kitchen or something like that, or
to consolidate debt, you might just want to do a
cash out mortgage because those rates tend to be a
little lower than the helocks, depending on your credit score.
But if you want the flexibility of having a line
(23:20):
that you can draw on here and there and everywhere,
then a helock might work, but it might have a
slightly higher rate for the privilege and what was.
Speaker 3 (23:28):
The Their bank turned them down as their income seemed
low even though they their house is paid off.
Speaker 2 (23:34):
Just like I would mentioned earlier for self employed people
that you know, we have bank statement loans and ten
ninety nine loans and things we can do like that,
we can also do those on helocks. So whereas ninety
eight percent of the places you go or not going
to offer a bank statement loan for a helock or
ten ninety nine or anything like that. And then also
if you own a business, you know there's a potential
(23:54):
to borrow money on you know, the business. Also, I
had someone that we had turned down for a home
equity line of credit because of the debt ratios for
their personal expenses, but when we looked at the business,
we were able to give them a business line of credit.
So they had applied for a fifty thousand dollars helock
and gotten turned down. But because of the way the
calculations are done so differently on a financial loan, on
(24:15):
a business SBA loan, we were able to get them
a three hundred and fifty thousand dollars SBA loan when
we couldn't get them approved for a fifty thousand dollars
home equity line. So there's all there's one. There's more
than one way to skin a cat in a lot
of cases. You are listening to the Home Loans Radio
show with that mortgage guy Don. We're going to take
a quick break and come back right after these here messages.
Speaker 3 (24:37):
Hey, this is Ryan from the Monsters, and now back
to that mortgage guy Don on Real Radio.
Speaker 6 (24:42):
Oh yeah, you're the real magic happens off air.
Speaker 5 (24:47):
Yeah, we just talk about John Botton Jovi.
Speaker 3 (24:50):
It's gonna we catch up hilarity.
Speaker 7 (24:53):
Uh.
Speaker 6 (24:53):
Yeah, you're listening to Home Loans Radio, Real Radio one
to four point one.
Speaker 5 (24:56):
I'm Fritz. We got MJ and.
Speaker 6 (24:58):
That mortgage guy Don. Have a question texted in seven
seven zero three one.
Speaker 5 (25:03):
Vote for Don in the Orlando Weekly Best of category
Best Voice, Best local Voice.
Speaker 2 (25:08):
Right, best local radio show voice.
Speaker 3 (25:12):
Say it with a little more timber, A.
Speaker 2 (25:13):
Little more No, that's all I got. That's all the timber.
Speaker 6 (25:16):
Yes, Don, the mid Atlantic accent. I think you would really.
Speaker 2 (25:21):
Get that Atlantic like Jimmy start.
Speaker 3 (25:23):
Yeah.
Speaker 2 (25:26):
Well you see, ma, I went over to the uncle's
house and he was on the phone. So I'm back
over here now here. Yeah, indeed, indeed.
Speaker 3 (25:40):
Chad is wondering from Charleston. Wow, Chad, you're listening to
us from Charleston. That's so cool, Charleston, Chadarson, Chad.
Speaker 2 (25:48):
You can text in your comments questions join the conversation
at seven seven zero three one. We are live. Tonight's
the night. Tonight's the big night. I'm going to be
there for the Ryan Holmes comedy show Dora. Yeah, in
the Mountain Dora Community Center. Well, just the one Florida,
Florida Mountains, ok. Yeah, yeah, and uh, that's gonna be fun.
(26:11):
It's gonna be a lot of fun. That's it's almost
sold out. I just look, there's about twenty something tickets left. Okay,
that's a six hundred seat theater. What yeah, it's it
is pretty much sold out. You got a chance to
buy ticket their twenty blogs.
Speaker 3 (26:24):
How much is the the other place that we go
to for the for the.
Speaker 2 (26:28):
Comedy, Oh, the one out the improv out there? I
don't know how many seats do you think that? Is that?
The improv when we go out there or the Funny
Bone or whatever the current name and what do you
think it is? Fritz?
Speaker 5 (26:41):
Sorry, Microsoft, I don't know. Three hundred.
Speaker 2 (26:46):
Yeah, I think it's probably two or three hundred ish.
Speaker 3 (26:48):
And well, there you go.
Speaker 2 (26:50):
So that's gonna be a lot of fun. We're gonna
be there the shows at the doors. The show starts
at eight, but the show starts at six, if you
know what I mean. Because Ryan Holmes is going to
be in a dunk tank, so that is going to
be fun. I am watched. As soon as the show's over,
I'm gonna go out and practice whipping some baseball, know,
and then for his show.
Speaker 3 (27:09):
This seems bad.
Speaker 2 (27:11):
That is exactly what savannahs.
Speaker 3 (27:13):
This seems really, this seems backwards. I don't I don't understand.
You're gonna get up there with the ears full of water.
Speaker 2 (27:20):
Jeff Howel's going to be playing there at six, and
it's a whole Shenanigans. It's going to be fun there
in out Dora.
Speaker 3 (27:27):
Beer beer beer.
Speaker 2 (27:28):
Oh, I don't know.
Speaker 3 (27:30):
I love that when I sticks in my head though.
By the way, I was closed.
Speaker 6 (27:33):
So the total capacity is four hundred. This is according
to AI, so it's probably you know, yeah, don't take
this for a fact. The main theater seats three fifty
in the bar area can hold three hundred.
Speaker 3 (27:46):
Oh Wow, all right, it's two fifty. Uh Bree says
it the funny bone.
Speaker 2 (27:50):
All right, there you go.
Speaker 3 (27:52):
Chad from Charleston has it has a question on the table,
So aiya.
Speaker 5 (27:57):
Actually three fifty funny done. Thanks for listening, Jack.
Speaker 2 (28:00):
Thanks Jack Bradshaw. I'm making sure we making sure we
do a good job here.
Speaker 3 (28:06):
Fritz, thanks yet, sit up straight, all right, we still
have a question from Jack.
Speaker 2 (28:10):
I was going to tell you something that Fritz said,
if you can trust the AI. I was looking at
something yesterday on AI. I looked up an electric vehicle.
I won't say what type. It wasn't a test, a
different electric vehicle and I looked it up, and you
know about what how do you open the doors because
a lot of them have a manual release inside in
case the full batteries die, and you know you everything's
(28:31):
electrically powered. And AI told me that you should get
your key fib out and open the end of it
and then there's a key and then you should insert
that in the tailgate of the car and open the
car and crawl through the front and unlock the door.
Oh but my question was if you're inside and you're
locked in, and it said the solution was to get outside,
(28:52):
going through the tailgate and crawl out through the door.
I was like, yep, not ready for prime time yet,
AI I.
Speaker 3 (28:57):
Stand corrected and I wasn't sure, so thank you for
correcting me. But someone is saying, don't besmirch the name
of musical genius. Bubba. Bubba did beer beer beer and
and I'm so sorry.
Speaker 2 (29:07):
I knew that. But they still play the solid Yeah.
Russ wrote it and they still play it every fro.
Speaker 3 (29:14):
Yeah, and if I hear it, But you're right, I
apologize for disrespecting Bubba will Pass Wilson.
Speaker 2 (29:20):
Yeah, and they still may. It's a very popular fan song.
Speaker 3 (29:24):
But Jeff how still sings really good songs too. I
remember back in the day when all those people were
on the same show.
Speaker 2 (29:30):
Well they still are, oh are they? Yeah? Juff comes
on occasionally occasionally. He's still he's an occasional guest.
Speaker 3 (29:37):
All right, I did not know that. There you go,
here's someone Chad from Charleston.
Speaker 2 (29:40):
Charleston Chad. I'm going to change it up.
Speaker 3 (29:42):
Still waiting for us go ahead. Hey, y'all, I just
changed insurance companies after six years, and I received a
refund of six hundred dollars. Nice sources say, I need
to sign that over to my mortgage company. Is that true?
The new policy is six hundred dollars cheaper? Love you guys.
Speaker 2 (29:58):
No, if you're unless your escrow account is short, you
know you don't need to sign.
Speaker 3 (30:03):
It over if you that's what they're getting mixed up.
Speaker 2 (30:04):
Yeah, if if the fact that you got cheaper, it's
mixing people up because nobody gets cheaper insurance.
Speaker 3 (30:11):
Right insurance? Rats on that, Chad. And obviously, Chad, you're
not in Florida, so you know, insurance.
Speaker 2 (30:17):
Just keeps going up and up every year. Normally, it
seems to be the norm even if you don't get
any claims, which I don't think is right. I feel like,
if you know, I haven't had a claim on insurance
on homeowners insurance in twenty years, and my insurance still
goes up every year, I think there should be a
benefit for not having, you know, claims.
Speaker 3 (30:35):
I understand the confusion though, because what I think Chad's
talking about is when people get a refund from their
escrow accounts and then you need to put that back
into your escrow account, like if something changes or something.
Speaker 2 (30:46):
Now, if you get a refund from the insurance company.
It probably means that you like when you when you
replace an insurance policy and they send you a refund check,
that means you had some time left on your year,
because you buy a policy a year at a time, right,
So if you got twenty days or thirty days or
six months left, you're going to get a check back
for that. But your Escro company will have your Escro account,
(31:06):
will have funded a whole new insurance policy and bought it.
So if if that makes your account short at your lender,
then you do need to send in that refund check
that you got so it can be put into your
Escro account.
Speaker 3 (31:18):
So how do you find out?
Speaker 2 (31:19):
You can, you know, go online most likely and see
what's in your your Escro account, or you can ask
them to do an Escro audit where they'll look at
it and tell you if you're you know you're in
a good place or you know, or look at your
statement it'll tell you the balance of your Escro account.
Or you can call your servicer and talk it through there.
But if your insurance is lower and there's still enough money,
(31:41):
like they paid you the new policy out of your
Escro account and there's still money in there enough for
the taxes which will be due in well in Florida
in October November timeframe, then you don't need to put
any more money into that account if it looks like
it's not going to have enough when it's time to
pay those but then yeah, you should probably send it in.
Speaker 4 (31:58):
Okay, but I think not.
Speaker 2 (32:00):
Since they drive, since their insurance went down six hundred
a year, they're they're probably good.
Speaker 4 (32:04):
Uh.
Speaker 3 (32:04):
Bree says that Charleston Chad is better than a Florida Chad.
That would be the Florida hanging Chad.
Speaker 2 (32:08):
Oh, yes, you're talking about one.
Speaker 3 (32:11):
If anyone gets named Chad in Florida.
Speaker 2 (32:13):
Oh, I know a lot of Chad.
Speaker 3 (32:14):
What is Chad short for? Is it just Chad? Is
that the name Chad? Chad?
Speaker 2 (32:19):
I was going to say that Chad that I know
is Chadwick. Yeah.
Speaker 3 (32:22):
Interesting, okay, Uh cool, cool, cool cool cool.
Speaker 2 (32:28):
Well MJ's out of here, Yeah.
Speaker 3 (32:32):
Chad says, thanks lol. I was surprised too at the
lower cost and my pm I fell off last month.
Speaker 4 (32:37):
Yeah, there you've got a bad month. No, that's good, Chad.
Speaker 3 (32:40):
You are doing great.
Speaker 2 (32:42):
There you go. Congratulations on that.
Speaker 3 (32:44):
Yeah, you can. Uh, you're in Charleston, you go have
a I don't.
Speaker 2 (32:48):
Know, Charleston chew.
Speaker 4 (32:49):
Yeah, is that a thing?
Speaker 3 (32:50):
Sure?
Speaker 2 (32:51):
Why do I what is the Charleston choo choose the thing?
Speaker 5 (32:54):
Yeah?
Speaker 2 (32:54):
Is it bubble gum? Or is it tobacco?
Speaker 5 (32:56):
I think it's Oh, I don't know.
Speaker 2 (32:58):
I thought for some reason, I was thinking chewing tobacco.
Speaker 5 (33:02):
Get it's a bar. Yeah, get covered in chocolate.
Speaker 2 (33:06):
So definitely not tobacco, marshmallows flavored.
Speaker 6 (33:10):
I guess maybe it was Charleston. And then they were like, oh,
you know what, let's market this's the kids.
Speaker 3 (33:17):
Yeah.
Speaker 5 (33:17):
Remember when that candy cigarettes?
Speaker 2 (33:20):
Yeah, good times.
Speaker 3 (33:22):
Here's someone who says I'm taking I'm looking to take
some equity out of my home to pay off some
debt and do some improvements like a new guest bathroom.
That's nice for you. Yes, I have a rate of
five point ninety nine. I want to take out seventy
five thousand. Do you think you cash out REFI or helock?
Speaker 2 (33:38):
You kind of on the you're kind of on the cusps.
The reason you would, you know, take out a heelock
instead is to keep that five point nine to nine rate.
You know, if you refinance that first mortgage, then you
go with whatever the new rate is, which is so
I mean, it's going to depend on the credit score.
It's going to depend on the loan to value, meaning
how much of the equity you're borrowing. Like if you're
borrowing the max you can do on a cash out
(34:00):
ninety percent up to ninety percent of the value. But
if you're doing ninety percent, that has a higher rate
than if you're doing fifty percent. It's just what the
banks consider a higher risk when you take more equity out.
And then the credit score matters. Every twenty points on
your credit score, Like so if you're six sixty to
six eighty, that's one rate. If you're six eighty to
seven hundred or seven hundred to seven twenty, each of
(34:20):
those tiers or buckets so to speak, has a different rate.
So it's I can give a range, but the range
that I'm seeing on the cash out loans, it's somewhere
in the low sixes if you're really well qualified, and
you might be able to buy it down to five
point nine nine, So it might make sense, or you know,
depending on what kind of a helock rate you can get,
you might be able to get a helock rate down
(34:40):
in the fives or sixes or seven. So it's kind
of those things we kind of have to evaluate. The
best way to do it is if you go to
the website the go to the apply now section and
fill out an application for a refinance, and then I'll
kind of do the analysis and figure out which way
works better math wise for you over the short term
and over the long term. And we can look at
(35:01):
different terms, maybe a fifteen year loan because we are
seeing fifteen year loans down in the mid five so
we might be able to reduce your rate if you're
okay with going to a fifteen year term. So all
kinds of options, but really the only way to get
into it is to go to the website at that
Mortgage guide don dot com, start to pre approval, hit
the apply button. We're not going to pull a hard
credit report. We only do a soft credit report, which
(35:23):
means you get nodings on your credit and no hard
inquiries to figure out quotes. Ultimately, if we go forward
and do the loan, yeah, the little bank's going to
want to do a full hard credit report, but we
can get you all the answers without that happening without
any cost or anything. Great question. Thanks for texting that
into seven seven zero three to one. That's how you
do it. You can text us there, you can go
(35:44):
to the website. You can also follow on Instagram at
that mortgage guide Don and there you go. What do
you got him? Jay?
Speaker 3 (35:52):
Here's someone that says I inherited a small, older nineteen
fifties house in Titus.
Speaker 2 (35:55):
Spell congratulations on the house.
Speaker 3 (35:58):
The agreement with the owner was to sell it for
one hundred and fifty thousand to her grandson. He has
paid approximately twenty five thousand in payments as a down payment.
What kind of job history and or credit score would
he need to purchase the house? So they'd like to
go ahead and get this done. Sell it sounds like
sell it to the grandson who's inheriting it. They inherited
the house. Their job is to sell it to the grandson,
(36:20):
and they're wondering how he could qualify. He's already put
twenty five thousand in payments as a down payment.
Speaker 2 (36:26):
If it's a I'm trying to be clear if their
family members are not better selling to each other, because
if it's a parent selling to their child, then you
can do something called a gift of equity purchase, and
we'll talk more about that. We're gonna have to take
a quick break. I want I don't want to give this.
I want to give this question. It's due. So we're
going to take a quick break and I will revisit
(36:47):
it afterwards. We'll be right back after these messages.
Speaker 5 (36:51):
Hey, it's Sabrina from the news junkie.
Speaker 6 (36:53):
Do you have a question for that mortgage guide on
text him at seven seven.
Speaker 3 (36:57):
Zero three one. Now back to home Loans radio on
real radio. Yeah, yep, yep, you are listening to that
mortgage guy Don Homelands Radio. Did that backwards?
Speaker 2 (37:14):
It's okay.
Speaker 3 (37:17):
Where we talking about market is with that guy? Fine?
Speaker 2 (37:21):
Thank you.
Speaker 3 (37:22):
Here we go. We had a question on the table.
Speaker 2 (37:25):
Yes, you can text in your questions to seven seven
zero three one. You can also go to the website
anytime at that mortgage guy Don dot com. Text it
into seven seven zero three one right now, though, like
this fine person did go ahead him.
Speaker 3 (37:38):
So the question was that this person had air inherited
a small, older nineteen fifties house in Titusville, the agreement
with the owner, and now we know because they let
us know the owner is was the grandmother was his grandmother.
So grandma said, you sell this for one hundred and
fifty to her grandson, which is the owner's nephew. Okay,
he's paid approximately twenty five thousand payments as a down payment.
(38:00):
What kind of job is or credit score would he
need to purchase the house?
Speaker 2 (38:03):
Okay? So when you're when you're selling to a family member,
there's a specific type of purchase that you can do
called a gift of equity purchase. And that's the only
way you can do it. Is a direct family member
selling to a direct family member. That like a nephew
selling to any direct family member by birth or marriage.
So it can be your mother in law, it can
(38:25):
be your sister, brother, uncle, nephew, you know, direct family
and in that that's people that are selling it can
sell it to them for if they sell it for
less than what it's worth. So the purchase price is
to be one hundred and fifty thousand if it's worth
more than that, so yeah, which is probably I don't
know where you can get one hundred and fifty thousand
dollars house, you know, I mean there are few, but
(38:48):
it's probably worth more than that, and if not, we
could still adjust that a little bit and make it
and make it work. But the equity in the property
that is above and beyond the one hundred and fifty
can be used for the down payment and the closing costs,
so don't really need any money out of pocket. The
twenty five that they've already put in, can we can
also maybe use that if you want to put that
(39:10):
into the equation. But their immediate question was about job
history and credit score. Credit score minimum is probably going
to be around five eighty for an FHA loan. Sometimes
we can get lower than that. It just depends on
the overall credit history and then the minimum down payment. Oh,
(39:31):
job history was the other question. Job history normally we
want to see two years at a job, but there
are exceptions for that. You know, if you've had if
you've been doing the same kind of job at three,
two or three places over the last few years. It
just has to show job stability. So if it's a
newer job, but you can show for six months every
week like clockwork, you work forty hours and it's not variable,
(39:55):
so there's different Some of it's underwriter discretion. So basically
the way to find out is for that person to
go and fill out the application for a preapproval. Then
we collect their income documents, we look at their job history,
and then I try and see if I can find
a place to put it. And as part of the
reason I have over forty different residential lenders for this
(40:15):
type of loan is so that if we don't if
it doesn't work at one place, you know when it's
underwriter discretion. So an underwriter has to decide on an
FHA loan, is this income stable and likely to continue?
Those are the questions, and if they determine that it is,
then they can move forward with very minimal job history.
In some cases, so we can also go to a lender,
(40:36):
and if that underwriter doesn't see it that way, we
can go to a different underwriter, to another bank or
lender and see if that underwriter sees it the same way.
So we have options. Even if they were to get
turned down, we can we can try try again. But
the way to get started is to do the preliminary
pre approval application.
Speaker 3 (40:54):
And then also, as I've learned on the show, even
if they do the pre approval and they don't quite
measure up, it might give them the tools of how
to do that. Yeah, in the next few months, you
need to do this, you need to do that, and
then that'll get you there.
Speaker 2 (41:07):
Yeah, thanks for reminding me. That's exactly right. Even if
I look at them and they're not ready, I can.
I can get most anybody ready in a year, you know,
if they work with me. Sometimes it's three months. Sometimes
they needed six months. But we can go in and
do the examination and then kind of do to compare
it to a medical visit, you know, that's what their
(41:28):
pre approval is. It's like going to the doctor for
a checkup and then they find something and they say, okay,
you know, here's the prescription to fix it. And that's
kind of how we do it. Either we say you're
ready to go with, let's start the process, or we say, okay,
here's what you need to do over the next thirty
days or here's what you need to do over the
next ninety days, and then we can get ready. So, yeah,
that's an excellent question. Thank you for texting that into
seven seven zero three to one. That's how you do it.
Speaker 3 (41:51):
Here's the one that says we live in Edgewater and
we purchased our home in twenty twelve, a new roof
was put on before we moved in. Now four to
twenty twenty five, we're seeing a lot of people getting
dropped for their home insurance because of a lifetime. The
lifetime of the roof. My husband seems to think we
have some more years left on the roof, but I
keep telling him, I guarantee we're going to get a
letter from the homeowners saying, homeowners saying, it's been almost
(42:14):
fifteen years, need replace your roof. How do I explain
to my husband to get this reroof roof before we
lose our homeowners insurance?
Speaker 2 (42:21):
Well, you're going to get Typically it doesn't start to
become a problem for insurers to ensure it if it's
not damaged. You know, if it's fine, if it looks fine,
it is fine, it's working fine. Usually you're not going
to have any issues till after it's fifteen years old.
And then it's almost fifteen yeah, and I think they
said thirteen or twenty twelve.
Speaker 3 (42:43):
Now it's twenty twenty five.
Speaker 2 (42:44):
Yeah, so they got thirteen years on it. So you
probably have a year or two before you really start
to get any sort of hassle from the insurance companies
unless you've already gotten a letter or something. But if
it's not leaking, there's nothing wrong. You don't have to
worry about that right now because soon you want to
wait as long as you can, because as soon as
you replace replace it, you're starting that fifteen year o'clock again. Yeah.
(43:05):
So there are companies though, that will ensure above fifteen years,
sixteen seventeen, up to twenty in some cases. The metal
roots or tile roofts can be up to thirty in
some cases. So it depends on what's going on in
that scenario. Did I answer the whole question? Was there
a piece?
Speaker 3 (43:23):
Yeah? She or he wants to know how do they
explain to their husband to get this roof re roofed?
And you've said, basically, I.
Speaker 2 (43:31):
Mean, I wouldn't do it if you don't have to. Now,
if you get your insurance renewal this year and it
goes up one thousand dollars, well then you know you
can shop around. There are companies that you can shop with.
You can do anytime, really, like one of the sponsors
of our show is Express Insurance of Longwood, and you
can send them your current quote and they'll shop around.
With over thirty different companies and tell you if there's
anything cheaper or better out there, so you may want
(43:52):
to do that. Of course you can. You can reach
out to them and find out if you can get
a better deal right now. And they can also tell
you about the roof. You know that insurance carry. You
can tell them I have a thirteen year old roof.
Should I be replacing this now? Will it save me
a lot of money? If I do? They can give
you some really specific answers to help you with your question.
Speaker 3 (44:13):
Maybe that's a math problem that you figure.
Speaker 2 (44:14):
Out it is it is, but I don't if it's
not leaking or anything. You don't have an emergency right
now unless you get a renewal where they start jacking
it up, which you do see as you get closer
to that fifteen year. But it's not it's not like
they're just going to cancel you. They're gonna warn you.
They're gonna give you a three month warning, sometimes a
one year warning. My cousin recently went through this, and
he sent me a letter that said, you know, basically,
(44:35):
I think he had one hundred and twenty days. They said,
if you don't get your roof straightened out. You know,
then we're going to cancel you in six months. So
usually they're going to give you a warning and it's
not going to be a surprise. You're listening to the
Home Loans Radio Show with that Mortgage Guy Don. We're
gonna be We're gonna take a quick break and we'll
be back at the top of the hour.
Speaker 8 (44:57):
Ca Hey, hey, hey, hey, hey hey, good.
Speaker 2 (45:31):
Morning, and welcome to the Home Loans Radio Show with
that Mortgage Guy Don. That's right, that's me. We're here
doing what we do every single Saturday. Joining me is
my crew. Good morning, m J, good morning, Welcome to
the show. Mister Fritz.
Speaker 4 (45:47):
Hey, hey, got that mic on?
Speaker 5 (45:51):
Yeah, I was gonna do again. I was like, no,
I only do that once a day. What I do?
Speaker 2 (45:57):
Hey, you can live your life if you do whatever
you want.
Speaker 5 (45:59):
Yeah, I will. You know what A ask me again?
Speaker 2 (46:05):
Oh?
Speaker 5 (46:05):
I forgot what?
Speaker 2 (46:09):
Well done?
Speaker 3 (46:11):
All right? Now? I want it so bad.
Speaker 2 (46:13):
There you go. Welcome back. That's rejoined courtesy of our
own very own mister Fritz and your band Florida Slang
from the Canal Flowers album That's Importance of Family. Thank
you for sharing your original music here on the show
so wonderful every single Saturday. No other place you can
(46:34):
hear it except on everywhere, Spotify, Apple, Pandora, you name it,
you can find it. Look up Florida Slang or the
Real Fritz or Corbus Incorporated or Luscious Lisa, you name it.
Fritz has written a song about it. And thanks as always.
Speaker 5 (46:54):
Buddy, Hey, thank you for having me.
Speaker 2 (46:56):
Where can people find you on social media.
Speaker 6 (46:59):
At new Underscore Regrets, Underscore Coyote on Instagram.
Speaker 2 (47:04):
There you go, and uh follow us at that mortgage
guy don give us a follow on Instagram. You can
also go there to the Instagram more directly to the
Orlando Weekly site because we are in the Best of
Orlando contest, the Best of Orlando contest category of what
is it? Best local financial institution for my company, Happy
Home Mortgage, and best local radio Voice. I don't know
(47:28):
how that happened. I'm up against a bunch of actual
professional radio people, but anyway, there it is.
Speaker 3 (47:33):
Well, they weren't always right, yeah, and they weren't born
that way. I mean they became you know, they got
a job, so there you go. I made a professional. Otherwise,
they were just people with good voices.
Speaker 2 (47:44):
Check that out at that. Very true, MJ. They all
have things to say. They all have that that makes
you good at radio. Having nothing to say is really
boring on the radio.
Speaker 3 (47:54):
Thanks for a nice sleepy show.
Speaker 2 (47:56):
Right, you could just talk about whatever like and like
you know what, like like public radio, you can talk about.
Speaker 4 (48:04):
Muffins like SMR.
Speaker 2 (48:06):
Oh, don't don't even go there.
Speaker 6 (48:10):
Boss, Manti Rice Fine, Global implications.
Speaker 2 (48:16):
So fluffy, so delicious.
Speaker 6 (48:20):
And there's always some you know, retired middle school teacher
somewhere going. I've been saying this for years.
Speaker 5 (48:26):
I've been saying this for years.
Speaker 2 (48:28):
Yeah, nobody listened, Bert, that's the problem with these kids
these days.
Speaker 5 (48:32):
Oh shut up, Angie. M PR only the things that matter.
Speaker 2 (48:39):
There you go. I do enjoy the MPR.
Speaker 5 (48:42):
I do enjoy I do too.
Speaker 6 (48:43):
I just like a talking crap about it because it's like,
you know, we need MPR and obviously people know that, right, No, yeah,
go ahead, defund it.
Speaker 3 (48:51):
Yeah, I mean we kind of need someplace that will
tell us what's happening, when the hurricane's coming and when
you know whatever, that's what we count on.
Speaker 2 (48:59):
There you go. I'm going to be at the Ryan
Holmes Comedy Show tonight in Mount Dora. Yeah, m j
You're gonna be there. M Jane's going to be there too,
and we're gonna go see the show. Check it out
you can. There's still I just looked a couple of
breaks ago, and there's still like twenty tickets left. Maybe
it's a six hundred seat theater and only twenty seats left,
(49:21):
so if you are interested, you better jump upon it
and buy your ticket twenty bucks. Come on. Yeah, it's
going to be a blast. All the people from the
Monsters in the Morning will be there. Ryan Holmes and
a dunk tank. That's just the part I am looking
forward to. I've got a whole milk crate full of
baseballs out in the backyard. I'm gonna go out and practice,
(49:41):
make sure that I do not miss the target on
the dunk tank, and we can place bets, you know
all that stuff. It's gonna be fun going buy your tickets,
go out there doors. Well. The festivities start at six,
comedy show at eight. It's gonna be a blast. Ryan
Holmes is the what do they call it? When you're
the anchor, you're the closer, you're the headliner, and there
(50:05):
are five or six other comics that Ryan picked and
it's gonna be it's gonna be a lot of fun.
I'm looking forward to it. Guess what time it is,
MJA It's time for the compare quote of the week.
Speaker 4 (50:23):
Dot com dot com.
Speaker 2 (50:25):
That's right, what's the compare quote of the week. Well,
you're about to experience it. That's something I came up
with a couple of years ago when I read a
survey study that said that less than twenty percent of
people got a second quote after they got their first
mortgage quote. And that's pretty crazy to not get a
second quote. And I can say that because a lot
of people since I created this thing on my website
where you could just upload your quote and I would
(50:47):
look it over for you as a professional and tell
you if it's garbage, or tell you if you're getting
jacked up, or tell you if you could do better.
And I see them every week, lots of them every week,
and I would say ninety eight percent of the time
we are able to save people one knee, you know,
not a little bit, but we're talking thousands. Here's a
good example this week. This past week we closed one
(51:08):
they had there was a three hundred and thirty five
thousand dollars purchase. And they had a quote from a
local retail lender. Retail let me. I guess I should
explain a retail lender. There's three ways you can get
a mortgage, right, you can get a mortgage, like from
your corner bank or your credit union, that kind of place.
Those are the corner bank mortgages. They tend to have
in my experience, the higher rates. You can also go
to a retail company that is kind of a bank,
(51:31):
but they only do mortgages. Think of your your loan depot,
your your rocket mortgage, the big national online companies. Yeah,
with a person faceless person far away in another land
or you know, another AI state or yeah, what have you.
And then you've got the local mortgage brokerage, and that
we work with dozens of wholesale lenders. These are banks
(51:52):
that only work with mortgage brokerages and their wholesale because
they don't have any facility for doing mortgages with people.
They don't have loan officers, they don't have office, they
had one building where they where they do this, and
therefore they can offer lower rates. And I passed those
rates onto you. So they were talking to a retail ender,
and they had gotten a quote of a rate of
(52:12):
seven point seventy five with a discount fees to buy
down the rate of nine thousand, four hundred dollars. They
were being charged on a three hundred and thirty five
thousand dollars house.
Speaker 4 (52:22):
That's high.
Speaker 2 (52:23):
Their payment was going to be twenty three hundred and ten.
Their whole deer the deal, their whole fear they've they've
been they've never had a home, and they'd been renting
for over twenty years, and their whole fear of buying
a house was that they didn't want their payment to
be over two grand. So their payment with these folks
was going to be two thousand dollars. I was able
to get them six point four to nine with zero
(52:43):
zero loan discount fees, and we were able to get
their payment down to drum roll, guess what we got
the payment down to.
Speaker 5 (52:54):
They wanted it to be.
Speaker 2 (52:55):
They wanted it to be two thousand, and I was.
They had gotten quoted twenty three to ten.
Speaker 5 (53:00):
I'm going to say twelve hundred.
Speaker 2 (53:03):
Nineteen hundred and ninety eight dollars, very close, very close.
So the other company was at twenty three to ten
We were able to get them on the same moreas
under two thousand by a couple bucks, and all because
they didn't just go with their first quote. You know,
they didn't like that payment. They wanted it to be lower.
(53:23):
They wanted it to be under two thousand.
Speaker 3 (53:25):
Over the life of the loan. That's a ton of money.
Speaker 2 (53:27):
Yeah, well, it's three hundred dollars per month. That's thirty
six hundred dollars in savings a year, or thirty six
thousand dollars over ten years. That's a significant savings. Three
hundred dollars a month. And they didn't They had ninety
four hundred dollars more in their pocket at closing than
they would have because they were charging them nine four
hundred dollars. We charged them zero for that for the
(53:49):
discount fee. So saved a nine grand right off the bat,
and then three hundred per month. Thank goodness. They compared
their quote. That first quote gave them payment pain too
high to keep their budgets, saying the fees were wild,
the rate was steeped, they couldn't close and still get sleep.
I slashed the rate and cut the fluff. Now their
(54:11):
payments just enough. Another winner compared with us and did
not miss the savings bus. Play the jingle.
Speaker 4 (54:17):
Fritz I missed the bus.
Speaker 2 (54:27):
I decided to not only don't miss the boat, but
I'm going to do other vehicles. So's thes either, don't
miss the boat. Compare your quote, don't miss the bus.
Compare with us more.
Speaker 4 (54:40):
Stuff coming, but.
Speaker 5 (54:44):
To work with us?
Speaker 2 (54:46):
Yeah, don't lose your hut. Compare your quote, you.
Speaker 3 (54:49):
Not your butt?
Speaker 5 (54:53):
Can we just put in a song?
Speaker 4 (54:57):
But surely yes, no idea.
Speaker 2 (55:01):
It is a bad idea, right.
Speaker 3 (55:02):
I disagree with that. So I meant just with this team, okay, okay,
when when workshopping, yes, but in life there's lots. It's
a really bad idea. Yeah, don what do you think
what you should do is go up to the area
where the dunk tank is and just tell him you
want to check to see the distance, so you know,
you could be at the proper aim and then just
push the button.
Speaker 2 (55:21):
Just karate kid that thing and see the crane post
and do a kick and just kick it.
Speaker 3 (55:26):
That just seems like people would talk about that.
Speaker 4 (55:28):
I'm gonna do it, be like no, I'm do People.
Speaker 3 (55:30):
Are gonna be like that mortgage guy down cheated.
Speaker 2 (55:32):
Maybe I shouldn't. Maybe I shouldn't announce ahead of the event.
Speaker 5 (55:36):
What am I gonna do?
Speaker 3 (55:37):
But no one's listening.
Speaker 4 (55:40):
Probably we're good.
Speaker 2 (55:42):
Well there you go, wait to bring it down.
Speaker 3 (55:45):
I just like, I don't think Ryan's listening, so he's
probably safe. But yeah, I don't know. I feel like
that's bad sportsmanship.
Speaker 2 (55:51):
But funny, I need if you see me anywhere near
the video, anywhere near the dunk tank, MJ. You need
a video of what's happening.
Speaker 3 (55:58):
Okay, okay, okay, we'll do.
Speaker 2 (56:00):
We'll do. It might be a classic.
Speaker 3 (56:01):
Deputy Scott says, Happy twenty fifth birthday to my baby boy.
Sponge Bob square Pants pool party tomorrow.
Speaker 2 (56:08):
Oh, that sounds like a treat.
Speaker 3 (56:09):
That's awesome. I like's twenty five and he still wants
a SpongeBob square Pants party.
Speaker 2 (56:14):
That'll soak all the water right out of the.
Speaker 3 (56:18):
If everyone is a sponge, right, it's funny.
Speaker 2 (56:21):
They need everybody to come in their life size sponge Coob.
Speaker 3 (56:24):
ID ask you. You know, there was a time when
we were really working on your social media following. So
is that what is that number now? Back when we
were counting down those numbers. Yeah, we were started last
so big now it doesn't matter.
Speaker 2 (56:37):
One hundred million followers. Yeah, no, I'm joking, of course, No,
it's it's it has gone up exponentially. I I the
last time I checked, we were in the two thousands. Okay,
I'm catching up on Fritz. Oh no, yeah, I might.
I might pass him.
Speaker 6 (56:54):
Up to you created a monster, yeah, just last year.
Speaker 3 (56:59):
For you're like, let me help the guy out. He's
got four followers and yeah, two of them are relatives
and one's his dog, and.
Speaker 2 (57:08):
Six of them are Fritz's burner accounts, right.
Speaker 3 (57:13):
And now look at him go.
Speaker 2 (57:15):
Yeah, well thanks thanks to all the folks out there.
You can check us out at that mortgage guy don
on Instagram and yeah, check it out. Follow and you
can also go and vote for us there. We've been
so grateful to be nominated by the good folks of
Orlando and the Orlando Weekly for best local financial Institution
and best Local Radio Voice. So all right, if you
(57:37):
go to my Instagram right down in the bio, there's
a link you can throw us a vote. Thank you
so much, and you know, give us a follow tell
your friends.
Speaker 3 (57:45):
All right, well we have a question here. All right,
I have been searching for a good investment property, and
I came across a mobile home park with sixteen least
units in Geneva, Tennessee. Seems to be consistent with a
good return, even at asking price. I'm wondering if I
can get a conventional third year on this type of property,
or is it a commercial or SBA loan. I haven't
made the offer yet since I wasn't sure about loan
(58:06):
options or rate planning on a twenty five percent down payment,
but can certainly do more if needed. Credit score around
eight hundred, self employee ten ninety nine, contractor for many years,
already own a homestead property. This is strictly investment. How
do I start that? How do I get started?
Speaker 2 (58:21):
And it's a sixteen unit mobile home park?
Speaker 3 (58:25):
Yeah, sixteen least units.
Speaker 2 (58:27):
Okay, Yeah, it's able home park. Okay, Yeah, we can
absolutely do those. That's not that's not a conventional type
mortgage loan though, that is a for sure a business loan,
probably an SBA loan. I think we did one on
a mobile home park about six months ago, and that's
that's going to be the way to go. We need
to get more information on the details, more information on
(58:49):
the business. You know the previous business financials, and you're
putting down enough money that's a twenty five percent is
a good down payment. But we can definitely help you
sort this one out. Best way to go is to
go to the website that mortgage guide Don dot com.
At the top there's a button for commercial loans and
there's an information form that comes to my email. So
just tell me a little bit about your business on
(59:10):
there and it comes to my email. I'll call you
and we'll see what we can figure out for you
and get you some quotes. You're listening to the Home
Loans Radio show. We'll be right back for the final
segment of today.
Speaker 1 (59:21):
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 (59:29):
All just like that, the show is almost over.
Speaker 6 (59:32):
You can still text this seven seven zero three one,
but you know, we'll probably get to it next week.
Speaker 5 (59:36):
And go to orlandoweekly dot com. Vote for Don best
local radio voice, and I think that's it.
Speaker 6 (59:45):
Oh, also Onstagram at that mortgage guy Don give him
a follow.
Speaker 2 (59:49):
There you go, please and thank you. Welcome back to
the Home Loans radio show. We're here. We're on the
final segment of Today. You can, if you're quick, you
can text something into seven to seven zero three one,
or if or not, go to the website anytime during
the week at that mortgage guy don dot com and
do it. There. Interesting the lending Tree. Lending Trees like
a real estate company, and they do different kind of
(01:00:12):
studies and surveys and you know, informational studies. And it turns
out they did a study on the top to the
top ten fastest growing metros in the in the country,
in the country, any idea, what would you guess is
number one? Any any well, who would you guess is
on the list? Top top top I mean, i'd expect us.
(01:00:32):
And I will tell you that five out of the
top ten are in Florida.
Speaker 3 (01:00:36):
I'm not surprised. I would expect Saint Pete Jacksonville. I
don't know what what are they?
Speaker 2 (01:00:44):
Well, it's interesting, it's Orlando. It's number two. Austin, Texas
is number one. Fastest growing metro Orlando, Florida number two. Northport,
Florida is number three. I don't know where Northport is.
Where's Northport? I have to look that one up. Sounds north.
And then we got Nashville, Tennessee, Cape Coral, Florida, and
(01:01:05):
then Colorado Springs, Charleton, Charleston, South Carolina, Lakeland, Florida, Deltona, Florida,
and Denver, Colorado. All right, so a lot of growth
in Florida, Texas, Colorado, South Carolina. Interesting, where would you
imagine the slowest growing the slowest growing metros are metros?
Speaker 3 (01:01:28):
I don't know.
Speaker 2 (01:01:29):
Any any shots at that one for.
Speaker 5 (01:01:30):
It's slowest growing metros in the country. New York, Yeah, New.
Speaker 2 (01:01:36):
York, New York's on the list, but Rochester, New York
is number eight.
Speaker 5 (01:01:43):
Frenches Mustard's from.
Speaker 2 (01:01:47):
Number three is Worcester, Massachusetts.
Speaker 3 (01:01:50):
That's where wor South comes from.
Speaker 2 (01:01:52):
That's a theme. Number two Cleveland, Ohio, Mayo, May Ohio,
Number one, New Orleans, Louisiana growing metros, and then also
on the list Toledo, Ohio, Curris curist here, yes, Joel,
New York. I don't know if I'm saying that right right, Well, Memphis, Tennessee.
(01:02:13):
It's interesting. So Nashville is on the top list, Memphis
is on the opposite list in the same state, and
then Chicago and a place called San Jose California also
on the list. But it's interesting Orlando number two fastest
growing metro in the United States.
Speaker 3 (01:02:28):
So is that part of what's going on with our
home prices?
Speaker 5 (01:02:30):
Is that good?
Speaker 3 (01:02:32):
Yeah? What does that mean? What does it mean? Breaking
down for tell us tell Us, tell Us tell us.
Speaker 2 (01:02:41):
It means that traffic sucks. Okay, Yeah, that's what it means.
It means every time I drive somewhere I'm in, I'm
in a traffic jam. But uh, it means growth. It
means building, It means building more apartments. It means more businesses.
Speaker 3 (01:02:56):
Any apartments.
Speaker 2 (01:02:57):
Yeah, and you know why, Well, Florida's is good if
you've ever been in sub zero weather and you know,
I don't know southern Canada or northern North Dakota or wherever.
You know, it's definitely different weather. Prevalence of jobs in Orlando,
you know, tourist dollars, and it's a it's a good
place to live. I like it here. I've lived here
(01:03:18):
my whole life. Guess what time it is, MJ.
Speaker 3 (01:03:22):
Oh, it's time for a speed It's.
Speaker 2 (01:03:24):
Time for the speed round.
Speaker 3 (01:03:26):
As the MJ said, Yeah, yeah, I'm gonna ask you
a bunch of questions I'm gonna ask them quick, and
you're gonna answer them like you do. Are you ready?
Speaker 2 (01:03:37):
Uh MJ's gonna ask a bunch of the ones we
didn't get to today real quick. If we didn't get
to yours, it does not mean I didn't want to
answer it. It just means we didn't have time. But
do copy paste it and send it to me DM
me on Instagram or send it to my email you can,
or at the website that Mortgage Guy Donna, and I
will answer it after the show.
Speaker 3 (01:03:55):
All right, Josh sent a question. It's a little long,
but the answer is short. I don't know about you,
but when I moved here, I felt like I got
bamboozled on my loan. It may or may not be
financially sound or refinance, but my current payment is about
to put me under. Could I send you my current
loan payment information or my mortgage statement from last year
to see if any relief is possible to get that
monthly payment down.
Speaker 2 (01:04:16):
Yeah. I go to the website that Mortgage Guy don
dot com. There's a place there that says asked on
a question, or actually go to the compare quote and
then just upload your mortgage statement in there and you
can write a note and say, hey, this is my
current mortgage statement, my situation. Can can you do any better?
And I'll take a peek at it for you for sure?
All right?
Speaker 7 (01:04:32):
Cool?
Speaker 3 (01:04:32):
Easy?
Speaker 2 (01:04:32):
Pas?
Speaker 3 (01:04:34):
How long does it take to close on an SBA
loan with you? Which is a Southern Voting Association, Southern
Battle Association, Southern Belle Association.
Speaker 2 (01:04:45):
Yeah, sneaky bratt.
Speaker 3 (01:04:48):
Smell that association, none of those things.
Speaker 2 (01:04:54):
Okay, Small Business Administration loan? What was what was the question?
Speaker 4 (01:04:58):
How long does it take a close one?
Speaker 2 (01:05:00):
Uh, thirty to fifty days, depending on you know, whether
it's one where it's going to be a structure built
or whether it's just a business entity that's being purchased.
So thirty days, forty five days, it's kind of the norm.
Speaker 3 (01:05:14):
How long did sorry? Can you do commercial loans in Georgia?
We listen online and we want to talk to you
about a commercial loan?
Speaker 2 (01:05:22):
Absolutely I can do. I can do commercial loans in
all fifty states and even in Puerto Rico.
Speaker 3 (01:05:28):
Puerto Rico.
Speaker 2 (01:05:29):
There you go.
Speaker 6 (01:05:30):
Yeah, that's America to me, baby, There you go, America
to everyone.
Speaker 3 (01:05:34):
Hit me up, well most everywhere. If my neighbor's tree
fell on my yard during the hurricane and caused damage
to my fence. Does their insurance cover it or does mine?
Speaker 2 (01:05:44):
That's a mystery. Yeah, it's going to be go.
Speaker 3 (01:05:48):
Look at the video.
Speaker 2 (01:05:49):
It's probably going to unless they were negligent in some way,
it's probably going to be on your insurance. But if
the tree was like rotted and stuff, then it could
be on their insurance. So that you get an insurance
adjuster out there, you know, from your insurance company and
take a look at it and they'll they'll tell you
like whether it's you or whether it's the other guy.
I think it's probably the best way to go.
Speaker 3 (01:06:10):
Finally, if you do a reverse mortgage, do you still
own your home?
Speaker 2 (01:06:14):
Yeah, it's no different than any other mortgage or like
you know, eighty percent of homes have a mortgage on them,
and there's that's still your house. You're still in the
deed entitle. A reverse mortgage is you get to stay
in your home after reverse mortgage for as long as
you want.
Speaker 4 (01:06:28):
To live there.
Speaker 3 (01:06:28):
Okay, here's our riddle. Liddle time a word. I know
six letters, it contains remove one letter and twelve remains.
Speaker 5 (01:06:40):
One more time.
Speaker 3 (01:06:41):
Okay, a word I know six letters it contains, remove
one letter and twelve remains.
Speaker 2 (01:06:49):
Hmmm, won't carry the fun.
Speaker 3 (01:06:54):
Think of a word that means.
Speaker 2 (01:06:56):
Twelve, doesn't I have that one?
Speaker 3 (01:06:57):
Okay? Then how could you add a letter to that? Dozens? Yep?
Speaker 2 (01:07:03):
Wow, I think we set up at the same time.
Speaker 3 (01:07:07):
Well, you're both with us.
Speaker 4 (01:07:08):
Baby, there you go.
Speaker 3 (01:07:09):
You have one.
Speaker 4 (01:07:10):
You did it, Yes, you did it.
Speaker 2 (01:07:12):
So the solution was to take off the s Yeah. Sorry,
you didn't write it. Yeah, just reads it, I.
Speaker 3 (01:07:22):
Jose, But it's getting pickens are slim out there, folks.
Speaker 2 (01:07:25):
Three hundred and five shows of riddles, well done. Yeah,
I'm jay. You know they can't all be banged.
Speaker 5 (01:07:31):
That one.
Speaker 2 (01:07:31):
That one's pretty good. We've had worse we have.
Speaker 4 (01:07:35):
That's why I like to keep the bottom every once
in a while.
Speaker 2 (01:07:39):
It's good to lower that bar down.
Speaker 3 (01:07:40):
Yeah, you know, keep things reasonable.
Speaker 2 (01:07:42):
Well, folks, you did it. You successfully wild away another
ninety minutes of your Saturday listening to us right here
on Real Radio one to four point one. Come and
check out the Ryan Holmes Comedy Show. There was a
handful of tickets left, so if you're lucky, you can
still get one. I'll be there tonight, tell you and
hi to folks, and that's it. Us out of here
with something cool all right the bone.
Speaker 7 (01:08:07):
You can think, you blag your.
Speaker 1 (01:08:32):
You've been listening to Home Loans Radio with that mortgage
guide don Join us every Saturday at nine am on
Real Radio one oh four point one and check us
out online at home Loans Radio dot com
It's time for Home Loans Radio on real Radio with
that mortgage Guy. Don joined the conversation text us at
seven seven zero three one. Now here's that mortgage guy Don.
Speaker 2 (00:13):
Hey hey, hey, hey, hey hey hey, good morning, welcome
to the Home Loans Radio Show with that Mortgage Guy Don.
That's right, that's me.
Speaker 3 (00:21):
You're here.
Speaker 2 (00:22):
You did it. I'm here doing what I do every
single Saturday, and I do it with my crew. Good morning,
mj ooh it so often. You're also mindful. I hear it,
I hear it. I'm with it. Good morning, mister.
Speaker 4 (00:37):
Fritz starting a DNS.
Speaker 2 (00:41):
Oh wait, we tacked on an ouga to the beginning there.
Speaker 5 (00:45):
I've been watching a lot of the Elmer Fud carttoons.
He's funny man. That kind of makes me laugh.
Speaker 3 (00:55):
Yeah, yeah, he's funny rabbit.
Speaker 2 (00:58):
Oh yeah. A lot of the the cartoon characters don't
wear pants. You ever notice that some of them wear
shirts but no pants.
Speaker 3 (01:05):
Maybe pants are hard to draw, like.
Speaker 2 (01:07):
You know, like Winnie the Pooh or or Porky Pig.
Speaker 6 (01:10):
Doubt the Brenda Carpenter is really taking on the old
Elmer put in her everyday life.
Speaker 5 (01:15):
Now you never ever see her wear pants.
Speaker 3 (01:18):
No no, and I say, you go girl, you do you?
Speaker 2 (01:24):
I hadn't noticed that. It's a chance you have.
Speaker 3 (01:29):
She wears pants. They're just very small.
Speaker 2 (01:32):
Well that's same here they.
Speaker 3 (01:34):
Look like underpants, but their pants.
Speaker 2 (01:37):
Never know what we're going to talk about here on
Saturday mornings on the Home Loans radio show.
Speaker 3 (01:41):
Tuning in, this is a mortgage show.
Speaker 2 (01:43):
That's right, you did it.
Speaker 3 (01:46):
We're going to talk about mortgagees.
Speaker 2 (01:48):
I was reading about something recently on a newsletter that
I get well courtesy of the morning Brew newsletter they
put on there. One of my coworkers have been has
been testing the limits of what he can sneak into
a movie theater. Oh recently he brought in a full
rotisserie chicken and a mini waffle maker, which he plugged
into an outlet in the lobby and made waffles without
(02:09):
getting caught.
Speaker 3 (02:10):
That's weird.
Speaker 5 (02:11):
Is that against love?
Speaker 2 (02:12):
I don't know.
Speaker 3 (02:13):
I mean, it's just weird.
Speaker 2 (02:14):
What's here? There's a few more here. What's the craziest
thing you've ever taken into a movie theater? Here's one
that said in two percent milk and water bottles, bags
of lucky charms under my puffy coat. And plastic spoons
and a bowl in my pockets.
Speaker 3 (02:27):
I've definitely taken drinks in my pockets because I used
to always want drinks. They never have.
Speaker 6 (02:31):
Yeah, I've never done a whole like three course breakfast
meal though.
Speaker 2 (02:35):
No. I've taken in microwave popcorn that I brought from home.
Speaker 3 (02:39):
Okay, yes, I've done that. Yeah, I've done that, just
in its microwave bag, right in my dough back.
Speaker 2 (02:45):
That lady smells like popcorn smells delicious. Well, you can't tell.
Speaker 4 (02:49):
In a movie theater, everybody smells like.
Speaker 2 (02:52):
There's someone that said they took an entire steak dinner
with a bottle of champagne glasses and a folding table
to eat it on.
Speaker 3 (02:59):
That's absurd.
Speaker 2 (03:00):
Yeah, I have not gone that far. This one says
a shrimp cocktail that seems difficult to eat and probably
not smelling good. This person says, I bring in protein
drinks and workout bands.
Speaker 3 (03:17):
I did not want to be sitting by the guy
who's working out at the movie theater.
Speaker 2 (03:21):
This this person, Uh, I snuck in cat food and yes,
also my.
Speaker 3 (03:25):
Cat a movie. That means one thing to bring in
your cat, but your cat's got to eat during the
movie I.
Speaker 2 (03:34):
Snuck in oh meat, and my friend snug in a
loaf of bread by cramming into our baseball hats. That
bread's not good anymore.
Speaker 4 (03:44):
Well, there you go.
Speaker 2 (03:45):
I thought that was interesting. Sure, if you haven't snuck
anything into a movie theater, I think this is a
challenge for you, MJ. I think you know what, what
would what do you think you? What do you think
you would be?
Speaker 3 (03:55):
I have stuck quite a bit in movie theaters. There's
a part of my time that I was, you know,
financially challenged, so there was just no way I was
going to be able to afford any of those snacks
that were, you know, the price of rent.
Speaker 4 (04:09):
So eleven whatever.
Speaker 3 (04:11):
So yeah, man, I always had a little baggy of
something yeah from my house.
Speaker 2 (04:16):
Yeah, And and.
Speaker 3 (04:18):
Beers in our socks.
Speaker 4 (04:19):
Somebody says, I like that, Well, now I got news
for you to.
Speaker 3 (04:23):
Feed your bell bottoms. But I like that. I like
the where that's going.
Speaker 2 (04:26):
Piers in your socks. Someone texted that in the seven
seven zero three, when's.
Speaker 3 (04:30):
Text in what you brought to a movie? I mean,
keep it clean, but I don't care what you say.
I can decide whether we put it out there.
Speaker 2 (04:36):
I'd be impressed if somebody could get a whole pepperoni
pizza in there.
Speaker 3 (04:39):
Yeah.
Speaker 6 (04:39):
I just fold it up, put it in their pocket.
No lugging, Like as you're walking that security make the
box into a hat.
Speaker 2 (04:48):
You're just it's you're going in wearing a trench coat
and it's ninety six degrees out in Florida.
Speaker 3 (04:53):
And you open it it's full of beer.
Speaker 2 (04:55):
Were I was thinking of pepperoni pizza on each side
hanging there. Yeah, you know, we're a big slih burrito.
Speaker 3 (05:01):
Definitely had a burrito in the movie theater before. And
if you go to the Enzion and you get used
to eating in the dark, you know some foods are
better than others.
Speaker 2 (05:11):
Well you yes, but be careful what you say.
Speaker 5 (05:16):
Yes.
Speaker 3 (05:16):
Yeah, Well lately, whenever I've gone to the Zion the
last couple of years, the lights have stayed pretty up. Yeah,
you know, they used to be dark. You used to
get really dark in there. So it's my favorite. But
if you like dig into your nachos in the dark,
like you don't know if you've got like a nacho
full of sour cream or a nacho full of plapinos.
Speaker 2 (05:33):
That is the thing you have to weigh when you
go to where those theaters where you are eating in
the dark, is the level of difficulty of what you're like,
you know, chicken wings or nachos in the darkest.
Speaker 3 (05:42):
Even salad. It's like you're trying to get a bite
as salt. You're like, I don't know what's on this fork,
but here we go. It's like all the Peppertini's okay.
Speaker 2 (05:51):
Eating salad in the movie theater. We'll see there you go.
There's a benefit.
Speaker 3 (05:58):
But now they keep the lights up so a little
bit so you can see.
Speaker 2 (06:01):
Well, that's because you were sneaking in beers in your socks.
Speaker 3 (06:05):
That would be rude at.
Speaker 2 (06:07):
You are listening to the Home Loans radio show with
that mortgage guy Don We're here every single Saturday. That's right.
I'm a mort mortgage expert and you can text in
your questions to seven seven zero three one. We were
a live show. We're here, we're doing it.
Speaker 5 (06:20):
Yeah.
Speaker 2 (06:22):
Last week was fourth July. I heard of mortar last
night at like midnight. Really, I was shaking my fist.
Well it's been a week and it wasn't far. I
think I know who it was down the street all right,
Mortar time is over right? Is that fair? Should it
be like the entire month of July been mortars?
Speaker 3 (06:42):
No?
Speaker 6 (06:43):
No, you know this was This was the quietest July
fourth I think we've had.
Speaker 2 (06:48):
I disagree.
Speaker 3 (06:49):
I feel like mine was pretty quiet. I mean it's
some on the night, but I mean I've lived places
where that went on for weeks.
Speaker 5 (06:56):
Like like last year.
Speaker 3 (06:58):
Yeah, oh yeah, two o'clock on a Monday.
Speaker 6 (07:01):
Yeah, everyone looked around and realized that they were the
only one on their city block happy about July fourth,
and they stopped.
Speaker 5 (07:10):
That's what it seemed like.
Speaker 2 (07:12):
Somebody in my neighborhood.
Speaker 5 (07:13):
It was a collective shame that we had this year.
Speaker 2 (07:16):
Oh yeah, maybe so, but uh, I don't know if
it seemed noisier. It seems like, well, it seemed like
they started a week before the fourth of July and
they're still going on a week after the fourth of July.
So I feel like it stretched out to a two
week period in my area. Either that or somebody bought
all the fireworks and feels like they must get rid
of them.
Speaker 3 (07:33):
I don't mind. Just don't do what I'm trying to sleep,
so stop doing it. At noon, I.
Speaker 2 (07:41):
Thought that was private. I thought, you know, your sleep
schedule is your own business.
Speaker 3 (07:46):
I jest. I here's someone who says, I go to
the movie theater and the mall. I bring popcorn, pop
from home, snacks from home. I buy a beverage downstairs
in the food court, go upstairs and grab a ticket
for the movie. I put everything inside a game stock bag.
They're not going to stop me because they think I've
been shopping at that mall. That's funny.
Speaker 2 (08:04):
They're like, here comes GameStop guy again. Think any slick.
We just don't want the confrontation like last time.
Speaker 3 (08:10):
The other thing that's awkward in the movie theater now
is often there's not many people in the theater, so
you know that guy upstairs is just like you know, oh,
there's that one lady in there, you know, making a salad.
Speaker 2 (08:21):
I used to work in a place, so it's like
kind of a cubicle farm. You're like one hundred cubicles
in one big room. And they made it a rule,
like some people would eat at their desk, but they
made it a rule if you had smelly food, you
had to go to the kitchen. Like you could not
sit at your desk and open up a can of
sardines or a can of tuna. Oh my god, you know,
and set off a tuna bomb. And so tuna might
(08:42):
be a fun thing to sneak in the movie theaters.
Speaker 3 (08:44):
Sure. KIPPERD Snacks. I don't know what it is, but
it's a can of some very smelly fish that my
mama used to eat. It felt like it's KIPPERD snacks.
I think it's a kipper the fish. I don't know.
Researches on it. It's a little can and it says
KIPPERD snack.
Speaker 6 (09:00):
Kipper is a whole herring of small oilyfish.
Speaker 3 (09:04):
Smelli wa sell it. Yeah, yeah, that's what I like.
Oi fish.
Speaker 2 (09:09):
You can texting your questions, comments, salutations, tell us what
you're doing out there, or asking mortgage question.
Speaker 3 (09:14):
We have some mortgage questions.
Speaker 2 (09:15):
All right, maybe maybe I'll be in the mood for that.
One day we finished talking about kippered snacks.
Speaker 3 (09:21):
Somebody also reminds us that, you know the Rocky hor
Picture Show, a lot of stuff got snuck in the theater.
Speaker 2 (09:26):
Oh yeah, well, of course, toasts, what toilet paper and
yeah that was.
Speaker 3 (09:32):
A particip involved. So whatever one group was doing, you know,
now they're doing something else. I'm sure it's.
Speaker 2 (09:39):
Involved like a game of telegraph, though, because I think
it went wrong, because some of the things I just
don't understand. Yeah. I haven't been to a Rocky horror
picture show, uh, you know, participatory event in quite a
long time. I remember going to one back in the day,
like in the nineties where they searched people on the
way in making empty out your pockets of toast and
then people still figure it away. Yeah, well, but I digress.
(10:03):
You're listening to the Home Loans radio show. You can
text in questions about anything having to do with the
mortgages Home loans, want to buy a home, sell a home,
refinance a home, questions on reverse mortgages, elocks.
Speaker 4 (10:12):
Yeah, it was business loans.
Speaker 3 (10:14):
I was talking to a friend recently and they were
lamenting the situation that their parents were in where they were.
They they had a house that they owned, very fancy
house that they owned, and it needs a bunch of
work and they're trying to figure out how to will
it to the kids in a way that they'll be
able to do this work. And I was like, you know,
you could you might consider reverse mortgage And they're like, wait,
what is that. I mean, it might be a way
(10:37):
that you could do all that work for sure, and yeah,
I don't know if they're going to look into It's
weird when when you like, because we do this show,
we know stuff, when you tell people, it's almost like
you're selling it. I don't know, Like I don't want
to be telling my friends, hey, you should do this, right,
but at the same time, I want to tell my friends, hey,
you should do this.
Speaker 2 (10:53):
Well, give them my number.
Speaker 3 (10:54):
Yeah that's what I said, look at that, but that's awesome.
Speaker 2 (10:57):
We're probably working on at least a dozen reverse mortgages
right now, and that is the common theme on I think,
with maybe one exception, that is the common thing. Whereas
people that are retired, they have a house that's paid for,
house that used to be where two or three hundred,
five or ten years ago, and now it's where it's
five or six hundred, and they've got a good amount
of equity in there, but they're living on, you know,
(11:18):
retired income, so they can't debt ratio for a heelock
or for a forward mortgage. And then you get to
the point where I have a couple right now where
their insurance has been canceled because their roof is leaking.
Have one that has They couldn't get insurance anymore because
they had aluminum wiring and they have to rewire the house. Yeah,
some older house. This is like one hundred year old house, Yes,
(11:41):
and they can't get insurance and they don't to rewire.
One hundred year old house is around one hundred thousand
dollars prospect is what the quotes they've been getting, and
they had no way to come up with a one
hundred grand So they're in the you know, a situation,
do we sell this house and move into something way
less cool than our one hundred year old, free and
clear house, or you know, do we find a way
(12:01):
to do it. So that's a very common theme with
reverse mortgages that you know, if you're retired in on
a fixed income, you have to be over the age
of sixty two. But it allows you to take out
cash or equity, get lump some payments even or get
monthly payments delivered to you and then you don't have
to pay a mortgage payment on it. You just pay
your taxes and insurance and your HIA. Still, but it
(12:23):
definitely works for a lot of folks. That can be
kind of a lifesaver in those situations where you're up
against it. You have no way to repair the roof
or the electric and no way to get the money,
and the reverse mortgage can be a big savior for
a lot of people.
Speaker 3 (12:35):
Here's the one's asking why can't a seller request a
new appraisal if it's faha, even if all parties agreed
that the appraisal was so poorly executed. Even when you
get a dud and everyone knows it's a dud, maybe
it was his first day.
Speaker 5 (12:50):
Everybody, like everybody knows it sucks.
Speaker 3 (12:52):
Everybody looks at it and goes, uh uh, not right,
not cool. Well, disagree just because you don't like the
color mob doesn't mean you can in my house.
Speaker 2 (13:01):
But it's it's subjective. So you know, when they say
everyone disagrees, what I usually hear is that they disagree
on the price. But when you go in and analyze them,
uh and look at the comps where that were available,
and the ones that are most similar, the ones that
are closest, the ones that are the most recent, the
ones that are the same square footage, the same age.
You know, a lot of times people want to compare
(13:22):
them with something two neighborhoods over, you know, that's worth
a lot more and not the house next door that sold,
you know, for for less than what they're looking at.
It's it's the appraisals are certainly subjective.
Speaker 3 (13:34):
Uh, what if one is really bad? Just like everyone
looks at and goes, all right, this guy does not
know what he's doing, like he's new, like and you
go to his supervisor and say, like, what's up with
this appraisal?
Speaker 2 (13:43):
Doesn't it doesn't happen because when you're new, you have
a supervisory appraiser that has to sign off on your appraisal.
I see, So there you're you're you're on training wheels
for your first couple of years as an appraiser. There's
a there's a rebuttal process that you can do. If
your realtors find other comparables that you think should have
been used, you can put together rebuttal and they you know,
we send it into the appraiser and they consider the properties.
(14:05):
Sometimes something has sold that's not you know, in the
regular listings, or a cash sale or something like that
that they can add in and I al would say,
frequently we get appraisal values adjusted by providing additional evidence.
But you can't just go and say I don't like
what the appraiser said. It has to be based on
some other evidence that we provide that changes the appraisal.
(14:27):
Great question. We're going to take a quick break. We'll
be right back after these messages. Hey, hey, hey, it's
that mortgage guide Don July is here and the summer
is sizzling. But my home is feeling cool, quiet and
safe thanks to my impact resistant windows from Renewal by Anderson.
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(14:47):
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(15:09):
and call Renewal by Anderson today. Tell them that mortgage
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Speaker 3 (15:32):
Hey, this is Devil Roberts from the Jim Culbert Show.
Speaker 5 (15:34):
And you're listening to Home Loans Radio on Real Radio.
Speaker 4 (15:38):
Now back to the show with that mortgage guy Don.
Speaker 3 (15:42):
Hey, Hey, you listening to Home Loans Radio today. We're
gonna talk about some mortgage stuff. You're here for it.
Speaker 2 (15:50):
You want it, that's right.
Speaker 5 (15:52):
That's right.
Speaker 3 (15:53):
You didn't know you needed it, but you'll be glad
once you have it.
Speaker 2 (15:55):
Text into seven seven zero three one. Yes, we are
here live today in the middle of the summertime. Summer.
Summer's in full force.
Speaker 3 (16:04):
It's so weird to think it's the middle of the summer.
Speaker 5 (16:06):
But I meant.
Speaker 2 (16:09):
The uh. It's still hurt of mortar. Last night, people
a week after the fourth agir.
Speaker 3 (16:16):
Celebrating the summer, Continuing to celebrate, here's someone who says,
if you've got a quote for one hundred thousand dollars
to rewire a house, you might just want to buy
a new house. I'm an electrician, and that is ridiculous.
They should shop that around.
Speaker 2 (16:29):
There's something to do with the historical facade has to
be preserved because it's in a it's a historical home,
and that apparently jumps up the difficulty. But you know,
maybe maybe so Yeah, I don't know that that's what
they said. One hundred thousand dollars quote to rewire the
entire home so that it can get insured. But you
(16:52):
know they've had it for since the eighteen hundreds that
somebody has, so yeah, maybe you got to update it
from time to time.
Speaker 3 (17:02):
Joe and Delan is finishing the painting the wings today. Wow, congratulations.
Speaker 2 (17:07):
Well let us know when the inaugural flight has just
been working on a building plane an aircraft's uh self
driving air not self driving an aircraft for themselves to fly.
Speaker 3 (17:18):
I mean, the self driving car is scary, but the
self driving airplane no, thank you.
Speaker 2 (17:22):
Yeah. Yeah, they're really good, except for the takeoffs and landing.
Speaker 3 (17:26):
That's the tricky part. Good morning, team, Mortgage being carried that.
We brought the entire dollar store into the movie theater, snacks, candy, sodas,
even monopoly in case we get bored.
Speaker 2 (17:39):
Wow, yeah, we get that board in a movie. You
need to just go on out to the lobby and you.
Speaker 3 (17:44):
Bought a board in in case they get bored. You know.
Speaker 2 (17:47):
Nice.
Speaker 3 (17:47):
Here's someone who says, why is it hard to get
pre approved when you own a business.
Speaker 2 (17:52):
Well, it can be challenging, but there are also some
loans that are open to self employed people that aren't
available for other people. A lot of times it has
to do with the way you file your taxes. That's
the first, you know, first hurdle when people are doing
are self employed and are doing a loan, then you
have to use two years history of your tax returns,
and a lot of times people will write off expenses
(18:13):
or big capital improvements. You know, you have somebody that
could show you know, they might have made five hundred
thousand dollars in their business, but they put four hundred
into a warehouse and bought a new car for the company,
and bought this or that, and then all of a
sudden you write that. Often it's like he looks on
paper like you didn't make any profit that year. So
that can be tough depending on how your taxes are filed.
(18:35):
But there are other options for self employed people that
you can't do if you're not self employed, like using
your deposits into your bank statement. So like if you're
a business that has a lot of cash incoming, we
can use your bank statements instead of your tax returns.
We can use your ten ninety nines in some cases
instead of your tax returns. So there's options out there
(18:56):
for self employed people to pursue. So if you've got
turned down for self employed loan at your bank or
what have you, they're probably not going to have a
bank statement loan. This is something I have because I'm
a wholesale mortgage brokerage. We have over one hundred different
lenders that we can do business with, and some of
them allow other ways to prove your self employed income.
But you're typically not going to find a loan like
that at the bank or the credit union or wherever.
(19:18):
You're going to have to go to a brokerage like myself.
And you can start that journey at that mortgage guide
don dot com.
Speaker 3 (19:24):
How do you do it?
Speaker 2 (19:25):
You just go there, hit the apply now button for
a refinance or a purchase, and then we'll jump in,
do a pre approval, do a soft credit report, and
let you know what we see?
Speaker 3 (19:36):
All right? And what about a reverse mortgage? How do
you do that? Isn't it just a questionnaire?
Speaker 2 (19:41):
Yeah? On the website, there's a form, like a one
page form you fill out if you have questions about
a reverse so it can get you a quote. You
can do it right there at the website. You can
also follow me on Instagram at that mortgage guide Don,
and if you're so inclined, give us a follow there.
But also we've been nominated that I've been nominated. My company,
Happy Homework has been nominated as the best local financial institution.
(20:04):
You can vote for us there at the Weekly Please please,
and thank you. You know you eat local, your shop local?
Why not mortgage local?
Speaker 5 (20:12):
Yeah?
Speaker 2 (20:13):
Support support. You know, I'm a small local business. So
to throw us a vote there you can all kind
of talk, yeah, thank you for noticing. You can you
can kind of. You can also go there at the
at the bio of my instagram at that mortgage Guy, Don,
you can there's another link where you can vote. I
was also nominated for best Local Radio Voice. And either
(20:33):
give me encouragement or discouragement there as you see fits
at that mortgage Guy Don on Instagram. What you got him, Jay,
you got some questions coming in there.
Speaker 3 (20:42):
Yeah, here's one. I'm seventy seven and my husband passed
away last year. Where are we were already on a
fixed income and he's passing cut that even less. I
want to know if you think reverse mortgage would help me.
I only have about ninety thousand left on the mortgage,
but the payment is twenty six hundred a month, and
I'm taking about one thousand a month from savings cover
the shortage. This is not a long term solution and
(21:03):
I want to keep my house.
Speaker 2 (21:04):
Yeah, so sorry for your lost it another thing to
check into that. You know, we talk about the homestead
exemption to get your property taxes down lower, but a
lot of people don't realize that if you become a
widow or widower, you can also go to the county
and let them know that and your taxes can be reduced.
You can get a tax reduction because of that.
Speaker 3 (21:23):
Well, there you go there something.
Speaker 2 (21:24):
Yeah, and yeah, I think a reverse mortgage might very Well.
You know, if you're taking one thousand dollars out of
savings each month and you've got ninety thousand dollars, well
that means you're kind of on a clock and you know,
get ninety months, that's that's what eight years, seven eight
years or eight and a half years, So that's not
that's not a lot. But you know, we can definitely
talk about it. We do a consultation on the phone
(21:47):
with people that want to do a reverse or you
can come into the office, or you can fill out
the questionare online. But the way we do it is,
you know, we put we it's not even contingent on
your credit score, but we'll we'll do the application, I mean,
the the information form that you fill out online and
then we put a quote together and then we review
it with you. So we can do that in person
or on the phone however you want to do it,
(22:08):
and then if it makes sense, then it takes about
twenty thirty days to get it closed and get everything sorted.
Speaker 3 (22:13):
Wow, could be the answer to all the problems right there.
You could be it.
Speaker 2 (22:18):
You're listening to the Home Loans radio show. You can
text in at seven seven zero three one join the conversation.
We are live doing what we do every single Saturday
for over three hundred and five saturdays in a row.
Speaker 3 (22:29):
When you say it like that, it seems like a
long time.
Speaker 2 (22:32):
Well, it's it's not a lot if you're doing five
days a week shows, but if you're doing only one
every Saturday, three hundred and five is a long time.
Is a while?
Speaker 3 (22:40):
Yeah, I would like to do a helock on my
home my partner that my partner and I own outright.
We tried to get one at our bank, but we
were turned down. We own a good business, but income
looks low on the tax returns due to our write offs.
Do you think you can help me own their house
outright and they want to get a helock.
Speaker 2 (22:57):
Yeah, there's a couple things there.
Speaker 4 (22:58):
One.
Speaker 2 (22:59):
I don't know if if the helock is necessarily the
right vehicle. It depends on what you're getting cash out for.
Like if you're getting cash out for a pool or something,
you know, a new kitchen or something like that, or
to consolidate debt, you might just want to do a
cash out mortgage because those rates tend to be a
little lower than the helocks, depending on your credit score.
But if you want the flexibility of having a line
(23:20):
that you can draw on here and there and everywhere,
then a helock might work, but it might have a
slightly higher rate for the privilege and what was.
Speaker 3 (23:28):
The Their bank turned them down as their income seemed
low even though they their house is paid off.
Speaker 2 (23:34):
Just like I would mentioned earlier for self employed people
that you know, we have bank statement loans and ten
ninety nine loans and things we can do like that,
we can also do those on helocks. So whereas ninety
eight percent of the places you go or not going
to offer a bank statement loan for a helock or
ten ninety nine or anything like that. And then also
if you own a business, you know there's a potential
(23:54):
to borrow money on you know, the business. Also, I
had someone that we had turned down for a home
equity line of credit because of the debt ratios for
their personal expenses, but when we looked at the business,
we were able to give them a business line of credit.
So they had applied for a fifty thousand dollars helock
and gotten turned down. But because of the way the
calculations are done so differently on a financial loan, on
(24:15):
a business SBA loan, we were able to get them
a three hundred and fifty thousand dollars SBA loan when
we couldn't get them approved for a fifty thousand dollars
home equity line. So there's all there's one. There's more
than one way to skin a cat in a lot
of cases. You are listening to the Home Loans Radio
show with that mortgage guy Don. We're going to take
a quick break and come back right after these here messages.
Speaker 3 (24:37):
Hey, this is Ryan from the Monsters, and now back
to that mortgage guy Don on Real Radio.
Speaker 6 (24:42):
Oh yeah, you're the real magic happens off air.
Speaker 5 (24:47):
Yeah, we just talk about John Botton Jovi.
Speaker 3 (24:50):
It's gonna we catch up hilarity.
Speaker 7 (24:53):
Uh.
Speaker 6 (24:53):
Yeah, you're listening to Home Loans Radio, Real Radio one
to four point one.
Speaker 5 (24:56):
I'm Fritz. We got MJ and.
Speaker 6 (24:58):
That mortgage guy Don. Have a question texted in seven
seven zero three one.
Speaker 5 (25:03):
Vote for Don in the Orlando Weekly Best of category
Best Voice, Best local Voice.
Speaker 2 (25:08):
Right, best local radio show voice.
Speaker 3 (25:12):
Say it with a little more timber, A.
Speaker 2 (25:13):
Little more No, that's all I got. That's all the timber.
Speaker 6 (25:16):
Yes, Don, the mid Atlantic accent. I think you would really.
Speaker 2 (25:21):
Get that Atlantic like Jimmy start.
Speaker 3 (25:23):
Yeah.
Speaker 2 (25:26):
Well you see, ma, I went over to the uncle's
house and he was on the phone. So I'm back
over here now here. Yeah, indeed, indeed.
Speaker 3 (25:40):
Chad is wondering from Charleston. Wow, Chad, you're listening to
us from Charleston. That's so cool, Charleston, Chadarson, Chad.
Speaker 2 (25:48):
You can text in your comments questions join the conversation
at seven seven zero three one. We are live. Tonight's
the night. Tonight's the big night. I'm going to be
there for the Ryan Holmes comedy show Dora. Yeah, in
the Mountain Dora Community Center. Well, just the one Florida,
Florida Mountains, ok. Yeah, yeah, and uh, that's gonna be fun.
(26:11):
It's gonna be a lot of fun. That's it's almost
sold out. I just look, there's about twenty something tickets left. Okay,
that's a six hundred seat theater. What yeah, it's it
is pretty much sold out. You got a chance to
buy ticket their twenty blogs.
Speaker 3 (26:24):
How much is the the other place that we go
to for the for the.
Speaker 2 (26:28):
Comedy, Oh, the one out the improv out there? I
don't know how many seats do you think that? Is that?
The improv when we go out there or the Funny
Bone or whatever the current name and what do you
think it is? Fritz?
Speaker 5 (26:41):
Sorry, Microsoft, I don't know. Three hundred.
Speaker 2 (26:46):
Yeah, I think it's probably two or three hundred ish.
Speaker 3 (26:48):
And well, there you go.
Speaker 2 (26:50):
So that's gonna be a lot of fun. We're gonna
be there the shows at the doors. The show starts
at eight, but the show starts at six, if you
know what I mean. Because Ryan Holmes is going to
be in a dunk tank, so that is going to
be fun. I am watched. As soon as the show's over,
I'm gonna go out and practice whipping some baseball, know,
and then for his show.
Speaker 3 (27:09):
This seems bad.
Speaker 2 (27:11):
That is exactly what savannahs.
Speaker 3 (27:13):
This seems really, this seems backwards. I don't I don't understand.
You're gonna get up there with the ears full of water.
Speaker 2 (27:20):
Jeff Howel's going to be playing there at six, and
it's a whole Shenanigans. It's going to be fun there
in out Dora.
Speaker 3 (27:27):
Beer beer beer.
Speaker 2 (27:28):
Oh, I don't know.
Speaker 3 (27:30):
I love that when I sticks in my head though.
By the way, I was closed.
Speaker 6 (27:33):
So the total capacity is four hundred. This is according
to AI, so it's probably you know, yeah, don't take
this for a fact. The main theater seats three fifty
in the bar area can hold three hundred.
Speaker 3 (27:46):
Oh Wow, all right, it's two fifty. Uh Bree says
it the funny bone.
Speaker 2 (27:50):
All right, there you go.
Speaker 3 (27:52):
Chad from Charleston has it has a question on the table,
So aiya.
Speaker 5 (27:57):
Actually three fifty funny done. Thanks for listening, Jack.
Speaker 2 (28:00):
Thanks Jack Bradshaw. I'm making sure we making sure we
do a good job here.
Speaker 3 (28:06):
Fritz, thanks yet, sit up straight, all right, we still
have a question from Jack.
Speaker 2 (28:10):
I was going to tell you something that Fritz said,
if you can trust the AI. I was looking at
something yesterday on AI. I looked up an electric vehicle.
I won't say what type. It wasn't a test, a
different electric vehicle and I looked it up, and you
know about what how do you open the doors because
a lot of them have a manual release inside in
case the full batteries die, and you know you everything's
(28:31):
electrically powered. And AI told me that you should get
your key fib out and open the end of it
and then there's a key and then you should insert
that in the tailgate of the car and open the
car and crawl through the front and unlock the door.
Oh but my question was if you're inside and you're
locked in, and it said the solution was to get outside,
(28:52):
going through the tailgate and crawl out through the door.
I was like, yep, not ready for prime time yet,
AI I.
Speaker 3 (28:57):
Stand corrected and I wasn't sure, so thank you for
correcting me. But someone is saying, don't besmirch the name
of musical genius. Bubba. Bubba did beer beer beer and
and I'm so sorry.
Speaker 2 (29:07):
I knew that. But they still play the solid Yeah.
Russ wrote it and they still play it every fro.
Speaker 3 (29:14):
Yeah, and if I hear it, But you're right, I
apologize for disrespecting Bubba will Pass Wilson.
Speaker 2 (29:20):
Yeah, and they still may. It's a very popular fan song.
Speaker 3 (29:24):
But Jeff how still sings really good songs too. I
remember back in the day when all those people were
on the same show.
Speaker 2 (29:30):
Well they still are, oh are they? Yeah? Juff comes
on occasionally occasionally. He's still he's an occasional guest.
Speaker 3 (29:37):
All right, I did not know that. There you go,
here's someone Chad from Charleston.
Speaker 2 (29:40):
Charleston Chad. I'm going to change it up.
Speaker 3 (29:42):
Still waiting for us go ahead. Hey, y'all, I just
changed insurance companies after six years, and I received a
refund of six hundred dollars. Nice sources say, I need
to sign that over to my mortgage company. Is that true?
The new policy is six hundred dollars cheaper? Love you guys.
Speaker 2 (29:58):
No, if you're unless your escrow account is short, you
know you don't need to sign.
Speaker 3 (30:03):
It over if you that's what they're getting mixed up.
Speaker 2 (30:04):
Yeah, if if the fact that you got cheaper, it's
mixing people up because nobody gets cheaper insurance.
Speaker 3 (30:11):
Right insurance? Rats on that, Chad. And obviously, Chad, you're
not in Florida, so you know, insurance.
Speaker 2 (30:17):
Just keeps going up and up every year. Normally, it
seems to be the norm even if you don't get
any claims, which I don't think is right. I feel like,
if you know, I haven't had a claim on insurance
on homeowners insurance in twenty years, and my insurance still
goes up every year, I think there should be a
benefit for not having, you know, claims.
Speaker 3 (30:35):
I understand the confusion though, because what I think Chad's
talking about is when people get a refund from their
escrow accounts and then you need to put that back
into your escrow account, like if something changes or something.
Speaker 2 (30:46):
Now, if you get a refund from the insurance company.
It probably means that you like when you when you
replace an insurance policy and they send you a refund check,
that means you had some time left on your year,
because you buy a policy a year at a time, right,
So if you got twenty days or thirty days or
six months left, you're going to get a check back
for that. But your Escro company will have your Escro account,
(31:06):
will have funded a whole new insurance policy and bought it.
So if if that makes your account short at your lender,
then you do need to send in that refund check
that you got so it can be put into your
Escro account.
Speaker 3 (31:18):
So how do you find out?
Speaker 2 (31:19):
You can, you know, go online most likely and see
what's in your your Escro account, or you can ask
them to do an Escro audit where they'll look at
it and tell you if you're you know you're in
a good place or you know, or look at your
statement it'll tell you the balance of your Escro account.
Or you can call your servicer and talk it through there.
But if your insurance is lower and there's still enough money,
(31:41):
like they paid you the new policy out of your
Escro account and there's still money in there enough for
the taxes which will be due in well in Florida
in October November timeframe, then you don't need to put
any more money into that account if it looks like
it's not going to have enough when it's time to
pay those but then yeah, you should probably send it in.
Speaker 4 (31:58):
Okay, but I think not.
Speaker 2 (32:00):
Since they drive, since their insurance went down six hundred
a year, they're they're probably good.
Speaker 4 (32:04):
Uh.
Speaker 3 (32:04):
Bree says that Charleston Chad is better than a Florida Chad.
That would be the Florida hanging Chad.
Speaker 2 (32:08):
Oh, yes, you're talking about one.
Speaker 3 (32:11):
If anyone gets named Chad in Florida.
Speaker 2 (32:13):
Oh, I know a lot of Chad.
Speaker 3 (32:14):
What is Chad short for? Is it just Chad? Is
that the name Chad? Chad?
Speaker 2 (32:19):
I was going to say that Chad that I know
is Chadwick. Yeah.
Speaker 3 (32:22):
Interesting, okay, Uh cool, cool, cool cool cool.
Speaker 2 (32:28):
Well MJ's out of here, Yeah.
Speaker 3 (32:32):
Chad says, thanks lol. I was surprised too at the
lower cost and my pm I fell off last month.
Speaker 4 (32:37):
Yeah, there you've got a bad month. No, that's good, Chad.
Speaker 3 (32:40):
You are doing great.
Speaker 2 (32:42):
There you go. Congratulations on that.
Speaker 3 (32:44):
Yeah, you can. Uh, you're in Charleston, you go have
a I don't.
Speaker 2 (32:48):
Know, Charleston chew.
Speaker 4 (32:49):
Yeah, is that a thing?
Speaker 3 (32:50):
Sure?
Speaker 2 (32:51):
Why do I what is the Charleston choo choose the thing?
Speaker 5 (32:54):
Yeah?
Speaker 2 (32:54):
Is it bubble gum? Or is it tobacco?
Speaker 5 (32:56):
I think it's Oh, I don't know.
Speaker 2 (32:58):
I thought for some reason, I was thinking chewing tobacco.
Speaker 5 (33:02):
Get it's a bar. Yeah, get covered in chocolate.
Speaker 2 (33:06):
So definitely not tobacco, marshmallows flavored.
Speaker 6 (33:10):
I guess maybe it was Charleston. And then they were like, oh,
you know what, let's market this's the kids.
Speaker 3 (33:17):
Yeah.
Speaker 5 (33:17):
Remember when that candy cigarettes?
Speaker 2 (33:20):
Yeah, good times.
Speaker 3 (33:22):
Here's someone who says I'm taking I'm looking to take
some equity out of my home to pay off some
debt and do some improvements like a new guest bathroom.
That's nice for you. Yes, I have a rate of
five point ninety nine. I want to take out seventy
five thousand. Do you think you cash out REFI or helock?
Speaker 2 (33:38):
You kind of on the you're kind of on the cusps.
The reason you would, you know, take out a heelock
instead is to keep that five point nine to nine rate.
You know, if you refinance that first mortgage, then you
go with whatever the new rate is, which is so
I mean, it's going to depend on the credit score.
It's going to depend on the loan to value, meaning
how much of the equity you're borrowing. Like if you're
borrowing the max you can do on a cash out
(34:00):
ninety percent up to ninety percent of the value. But
if you're doing ninety percent, that has a higher rate
than if you're doing fifty percent. It's just what the
banks consider a higher risk when you take more equity out.
And then the credit score matters. Every twenty points on
your credit score, Like so if you're six sixty to
six eighty, that's one rate. If you're six eighty to
seven hundred or seven hundred to seven twenty, each of
(34:20):
those tiers or buckets so to speak, has a different rate.
So it's I can give a range, but the range
that I'm seeing on the cash out loans, it's somewhere
in the low sixes if you're really well qualified, and
you might be able to buy it down to five
point nine nine, So it might make sense, or you know,
depending on what kind of a helock rate you can get,
you might be able to get a helock rate down
(34:40):
in the fives or sixes or seven. So it's kind
of those things we kind of have to evaluate. The
best way to do it is if you go to
the website the go to the apply now section and
fill out an application for a refinance, and then I'll
kind of do the analysis and figure out which way
works better math wise for you over the short term
and over the long term. And we can look at
(35:01):
different terms, maybe a fifteen year loan because we are
seeing fifteen year loans down in the mid five so
we might be able to reduce your rate if you're
okay with going to a fifteen year term. So all
kinds of options, but really the only way to get
into it is to go to the website at that
Mortgage guide don dot com, start to pre approval, hit
the apply button. We're not going to pull a hard
credit report. We only do a soft credit report, which
(35:23):
means you get nodings on your credit and no hard
inquiries to figure out quotes. Ultimately, if we go forward
and do the loan, yeah, the little bank's going to
want to do a full hard credit report, but we
can get you all the answers without that happening without
any cost or anything. Great question. Thanks for texting that
into seven seven zero three to one. That's how you
do it. You can text us there, you can go
(35:44):
to the website. You can also follow on Instagram at
that mortgage guide Don and there you go. What do
you got him? Jay?
Speaker 3 (35:52):
Here's someone that says I inherited a small, older nineteen
fifties house in Titus.
Speaker 2 (35:55):
Spell congratulations on the house.
Speaker 3 (35:58):
The agreement with the owner was to sell it for
one hundred and fifty thousand to her grandson. He has
paid approximately twenty five thousand in payments as a down payment.
What kind of job history and or credit score would
he need to purchase the house? So they'd like to
go ahead and get this done. Sell it sounds like
sell it to the grandson who's inheriting it. They inherited
the house. Their job is to sell it to the grandson,
(36:20):
and they're wondering how he could qualify. He's already put
twenty five thousand in payments as a down payment.
Speaker 2 (36:26):
If it's a I'm trying to be clear if their
family members are not better selling to each other, because
if it's a parent selling to their child, then you
can do something called a gift of equity purchase, and
we'll talk more about that. We're gonna have to take
a quick break. I want I don't want to give this.
I want to give this question. It's due. So we're
going to take a quick break and I will revisit
(36:47):
it afterwards. We'll be right back after these messages.
Speaker 5 (36:51):
Hey, it's Sabrina from the news junkie.
Speaker 6 (36:53):
Do you have a question for that mortgage guide on
text him at seven seven.
Speaker 3 (36:57):
Zero three one. Now back to home Loans radio on
real radio. Yeah, yep, yep, you are listening to that
mortgage guy Don Homelands Radio. Did that backwards?
Speaker 2 (37:14):
It's okay.
Speaker 3 (37:17):
Where we talking about market is with that guy? Fine?
Speaker 2 (37:21):
Thank you.
Speaker 3 (37:22):
Here we go. We had a question on the table.
Speaker 2 (37:25):
Yes, you can text in your questions to seven seven
zero three one. You can also go to the website
anytime at that mortgage guy Don dot com. Text it
into seven seven zero three one right now, though, like
this fine person did go ahead him.
Speaker 3 (37:38):
So the question was that this person had air inherited
a small, older nineteen fifties house in Titusville, the agreement
with the owner, and now we know because they let
us know the owner is was the grandmother was his grandmother.
So grandma said, you sell this for one hundred and
fifty to her grandson, which is the owner's nephew. Okay,
he's paid approximately twenty five thousand payments as a down payment.
(38:00):
What kind of job is or credit score would he
need to purchase the house?
Speaker 2 (38:03):
Okay? So when you're when you're selling to a family member,
there's a specific type of purchase that you can do
called a gift of equity purchase. And that's the only
way you can do it. Is a direct family member
selling to a direct family member. That like a nephew
selling to any direct family member by birth or marriage.
So it can be your mother in law, it can
(38:25):
be your sister, brother, uncle, nephew, you know, direct family
and in that that's people that are selling it can
sell it to them for if they sell it for
less than what it's worth. So the purchase price is
to be one hundred and fifty thousand if it's worth
more than that, so yeah, which is probably I don't
know where you can get one hundred and fifty thousand
dollars house, you know, I mean there are few, but
(38:48):
it's probably worth more than that, and if not, we
could still adjust that a little bit and make it
and make it work. But the equity in the property
that is above and beyond the one hundred and fifty
can be used for the down payment and the closing costs,
so don't really need any money out of pocket. The
twenty five that they've already put in, can we can
also maybe use that if you want to put that
(39:10):
into the equation. But their immediate question was about job
history and credit score. Credit score minimum is probably going
to be around five eighty for an FHA loan. Sometimes
we can get lower than that. It just depends on
the overall credit history and then the minimum down payment. Oh,
(39:31):
job history was the other question. Job history normally we
want to see two years at a job, but there
are exceptions for that. You know, if you've had if
you've been doing the same kind of job at three,
two or three places over the last few years. It
just has to show job stability. So if it's a
newer job, but you can show for six months every
week like clockwork, you work forty hours and it's not variable,
(39:55):
so there's different Some of it's underwriter discretion. So basically
the way to find out is for that person to
go and fill out the application for a preapproval. Then
we collect their income documents, we look at their job history,
and then I try and see if I can find
a place to put it. And as part of the
reason I have over forty different residential lenders for this
(40:15):
type of loan is so that if we don't if
it doesn't work at one place, you know when it's
underwriter discretion. So an underwriter has to decide on an
FHA loan, is this income stable and likely to continue?
Those are the questions, and if they determine that it is,
then they can move forward with very minimal job history.
In some cases, so we can also go to a lender,
(40:36):
and if that underwriter doesn't see it that way, we
can go to a different underwriter, to another bank or
lender and see if that underwriter sees it the same way.
So we have options. Even if they were to get
turned down, we can we can try try again. But
the way to get started is to do the preliminary
pre approval application.
Speaker 3 (40:54):
And then also, as I've learned on the show, even
if they do the pre approval and they don't quite
measure up, it might give them the tools of how
to do that. Yeah, in the next few months, you
need to do this, you need to do that, and
then that'll get you there.
Speaker 2 (41:07):
Yeah, thanks for reminding me. That's exactly right. Even if
I look at them and they're not ready, I can.
I can get most anybody ready in a year, you know,
if they work with me. Sometimes it's three months. Sometimes
they needed six months. But we can go in and
do the examination and then kind of do to compare
it to a medical visit, you know, that's what their
(41:28):
pre approval is. It's like going to the doctor for
a checkup and then they find something and they say, okay,
you know, here's the prescription to fix it. And that's
kind of how we do it. Either we say you're
ready to go with, let's start the process, or we say, okay,
here's what you need to do over the next thirty
days or here's what you need to do over the
next ninety days, and then we can get ready. So, yeah,
that's an excellent question. Thank you for texting that into
seven seven zero three to one. That's how you do it.
Speaker 3 (41:51):
Here's the one that says we live in Edgewater and
we purchased our home in twenty twelve, a new roof
was put on before we moved in. Now four to
twenty twenty five, we're seeing a lot of people getting
dropped for their home insurance because of a lifetime. The
lifetime of the roof. My husband seems to think we
have some more years left on the roof, but I
keep telling him, I guarantee we're going to get a
letter from the homeowners saying, homeowners saying, it's been almost
(42:14):
fifteen years, need replace your roof. How do I explain
to my husband to get this reroof roof before we
lose our homeowners insurance?
Speaker 2 (42:21):
Well, you're going to get Typically it doesn't start to
become a problem for insurers to ensure it if it's
not damaged. You know, if it's fine, if it looks fine,
it is fine, it's working fine. Usually you're not going
to have any issues till after it's fifteen years old.
And then it's almost fifteen yeah, and I think they
said thirteen or twenty twelve.
Speaker 3 (42:43):
Now it's twenty twenty five.
Speaker 2 (42:44):
Yeah, so they got thirteen years on it. So you
probably have a year or two before you really start
to get any sort of hassle from the insurance companies
unless you've already gotten a letter or something. But if
it's not leaking, there's nothing wrong. You don't have to
worry about that right now because soon you want to
wait as long as you can, because as soon as
you replace replace it, you're starting that fifteen year o'clock again. Yeah.
(43:05):
So there are companies though, that will ensure above fifteen years,
sixteen seventeen, up to twenty in some cases. The metal
roots or tile roofts can be up to thirty in
some cases. So it depends on what's going on in
that scenario. Did I answer the whole question? Was there
a piece?
Speaker 3 (43:23):
Yeah? She or he wants to know how do they
explain to their husband to get this roof re roofed?
And you've said, basically, I.
Speaker 2 (43:31):
Mean, I wouldn't do it if you don't have to. Now,
if you get your insurance renewal this year and it
goes up one thousand dollars, well then you know you
can shop around. There are companies that you can shop with.
You can do anytime, really, like one of the sponsors
of our show is Express Insurance of Longwood, and you
can send them your current quote and they'll shop around.
With over thirty different companies and tell you if there's
anything cheaper or better out there, so you may want
(43:52):
to do that. Of course you can. You can reach
out to them and find out if you can get
a better deal right now. And they can also tell
you about the roof. You know that insurance carry. You
can tell them I have a thirteen year old roof.
Should I be replacing this now? Will it save me
a lot of money? If I do? They can give
you some really specific answers to help you with your question.
Speaker 3 (44:13):
Maybe that's a math problem that you figure.
Speaker 2 (44:14):
Out it is it is, but I don't if it's
not leaking or anything. You don't have an emergency right
now unless you get a renewal where they start jacking
it up, which you do see as you get closer
to that fifteen year. But it's not it's not like
they're just going to cancel you. They're gonna warn you.
They're gonna give you a three month warning, sometimes a
one year warning. My cousin recently went through this, and
he sent me a letter that said, you know, basically,
(44:35):
I think he had one hundred and twenty days. They said,
if you don't get your roof straightened out. You know,
then we're going to cancel you in six months. So
usually they're going to give you a warning and it's
not going to be a surprise. You're listening to the
Home Loans Radio Show with that Mortgage Guy Don. We're
gonna be We're gonna take a quick break and we'll
be back at the top of the hour.
Speaker 8 (44:57):
Ca Hey, hey, hey, hey, hey hey, good.
Speaker 2 (45:31):
Morning, and welcome to the Home Loans Radio Show with
that Mortgage Guy Don. That's right, that's me. We're here
doing what we do every single Saturday. Joining me is
my crew. Good morning, m J, good morning, Welcome to
the show. Mister Fritz.
Speaker 4 (45:47):
Hey, hey, got that mic on?
Speaker 5 (45:51):
Yeah, I was gonna do again. I was like, no,
I only do that once a day. What I do?
Speaker 2 (45:57):
Hey, you can live your life if you do whatever
you want.
Speaker 5 (45:59):
Yeah, I will. You know what A ask me again?
Speaker 2 (46:05):
Oh?
Speaker 5 (46:05):
I forgot what?
Speaker 2 (46:09):
Well done?
Speaker 3 (46:11):
All right? Now? I want it so bad.
Speaker 2 (46:13):
There you go. Welcome back. That's rejoined courtesy of our
own very own mister Fritz and your band Florida Slang
from the Canal Flowers album That's Importance of Family. Thank
you for sharing your original music here on the show
so wonderful every single Saturday. No other place you can
(46:34):
hear it except on everywhere, Spotify, Apple, Pandora, you name it,
you can find it. Look up Florida Slang or the
Real Fritz or Corbus Incorporated or Luscious Lisa, you name it.
Fritz has written a song about it. And thanks as always.
Speaker 5 (46:54):
Buddy, Hey, thank you for having me.
Speaker 2 (46:56):
Where can people find you on social media.
Speaker 6 (46:59):
At new Underscore Regrets, Underscore Coyote on Instagram.
Speaker 2 (47:04):
There you go, and uh follow us at that mortgage
guy don give us a follow on Instagram. You can
also go there to the Instagram more directly to the
Orlando Weekly site because we are in the Best of
Orlando contest, the Best of Orlando contest category of what
is it? Best local financial institution for my company, Happy
Home Mortgage, and best local radio Voice. I don't know
(47:28):
how that happened. I'm up against a bunch of actual
professional radio people, but anyway, there it is.
Speaker 3 (47:33):
Well, they weren't always right, yeah, and they weren't born
that way. I mean they became you know, they got
a job, so there you go. I made a professional. Otherwise,
they were just people with good voices.
Speaker 2 (47:44):
Check that out at that. Very true, MJ. They all
have things to say. They all have that that makes
you good at radio. Having nothing to say is really
boring on the radio.
Speaker 3 (47:54):
Thanks for a nice sleepy show.
Speaker 2 (47:56):
Right, you could just talk about whatever like and like
you know what, like like public radio, you can talk about.
Speaker 4 (48:04):
Muffins like SMR.
Speaker 2 (48:06):
Oh, don't don't even go there.
Speaker 6 (48:10):
Boss, Manti Rice Fine, Global implications.
Speaker 2 (48:16):
So fluffy, so delicious.
Speaker 6 (48:20):
And there's always some you know, retired middle school teacher
somewhere going. I've been saying this for years.
Speaker 5 (48:26):
I've been saying this for years.
Speaker 2 (48:28):
Yeah, nobody listened, Bert, that's the problem with these kids
these days.
Speaker 5 (48:32):
Oh shut up, Angie. M PR only the things that matter.
Speaker 2 (48:39):
There you go. I do enjoy the MPR.
Speaker 5 (48:42):
I do enjoy I do too.
Speaker 6 (48:43):
I just like a talking crap about it because it's like,
you know, we need MPR and obviously people know that, right, No, yeah,
go ahead, defund it.
Speaker 3 (48:51):
Yeah, I mean we kind of need someplace that will
tell us what's happening, when the hurricane's coming and when
you know whatever, that's what we count on.
Speaker 2 (48:59):
There you go. I'm going to be at the Ryan
Holmes Comedy Show tonight in Mount Dora. Yeah, m j
You're gonna be there. M Jane's going to be there too,
and we're gonna go see the show. Check it out
you can. There's still I just looked a couple of
breaks ago, and there's still like twenty tickets left. Maybe
it's a six hundred seat theater and only twenty seats left,
(49:21):
so if you are interested, you better jump upon it
and buy your ticket twenty bucks. Come on. Yeah, it's
going to be a blast. All the people from the
Monsters in the Morning will be there. Ryan Holmes and
a dunk tank. That's just the part I am looking
forward to. I've got a whole milk crate full of
baseballs out in the backyard. I'm gonna go out and practice,
(49:41):
make sure that I do not miss the target on
the dunk tank, and we can place bets, you know
all that stuff. It's gonna be fun going buy your tickets,
go out there doors. Well. The festivities start at six,
comedy show at eight. It's gonna be a blast. Ryan
Holmes is the what do they call it? When you're
the anchor, you're the closer, you're the headliner, and there
(50:05):
are five or six other comics that Ryan picked and
it's gonna be it's gonna be a lot of fun.
I'm looking forward to it. Guess what time it is,
MJA It's time for the compare quote of the week.
Speaker 4 (50:23):
Dot com dot com.
Speaker 2 (50:25):
That's right, what's the compare quote of the week. Well,
you're about to experience it. That's something I came up
with a couple of years ago when I read a
survey study that said that less than twenty percent of
people got a second quote after they got their first
mortgage quote. And that's pretty crazy to not get a
second quote. And I can say that because a lot
of people since I created this thing on my website
where you could just upload your quote and I would
(50:47):
look it over for you as a professional and tell
you if it's garbage, or tell you if you're getting
jacked up, or tell you if you could do better.
And I see them every week, lots of them every week,
and I would say ninety eight percent of the time
we are able to save people one knee, you know,
not a little bit, but we're talking thousands. Here's a
good example this week. This past week we closed one
(51:08):
they had there was a three hundred and thirty five
thousand dollars purchase. And they had a quote from a
local retail lender. Retail let me. I guess I should
explain a retail lender. There's three ways you can get
a mortgage, right, you can get a mortgage, like from
your corner bank or your credit union, that kind of place.
Those are the corner bank mortgages. They tend to have
in my experience, the higher rates. You can also go
to a retail company that is kind of a bank,
(51:31):
but they only do mortgages. Think of your your loan depot,
your your rocket mortgage, the big national online companies. Yeah,
with a person faceless person far away in another land
or you know, another AI state or yeah, what have you.
And then you've got the local mortgage brokerage, and that
we work with dozens of wholesale lenders. These are banks
(51:52):
that only work with mortgage brokerages and their wholesale because
they don't have any facility for doing mortgages with people.
They don't have loan officers, they don't have office, they
had one building where they where they do this, and
therefore they can offer lower rates. And I passed those
rates onto you. So they were talking to a retail ender,
and they had gotten a quote of a rate of
(52:12):
seven point seventy five with a discount fees to buy
down the rate of nine thousand, four hundred dollars. They
were being charged on a three hundred and thirty five
thousand dollars house.
Speaker 4 (52:22):
That's high.
Speaker 2 (52:23):
Their payment was going to be twenty three hundred and ten.
Their whole deer the deal, their whole fear they've they've
been they've never had a home, and they'd been renting
for over twenty years, and their whole fear of buying
a house was that they didn't want their payment to
be over two grand. So their payment with these folks
was going to be two thousand dollars. I was able
to get them six point four to nine with zero
(52:43):
zero loan discount fees, and we were able to get
their payment down to drum roll, guess what we got
the payment down to.
Speaker 5 (52:54):
They wanted it to be.
Speaker 2 (52:55):
They wanted it to be two thousand, and I was.
They had gotten quoted twenty three to ten.
Speaker 5 (53:00):
I'm going to say twelve hundred.
Speaker 2 (53:03):
Nineteen hundred and ninety eight dollars, very close, very close.
So the other company was at twenty three to ten
We were able to get them on the same moreas
under two thousand by a couple bucks, and all because
they didn't just go with their first quote. You know,
they didn't like that payment. They wanted it to be lower.
(53:23):
They wanted it to be under two thousand.
Speaker 3 (53:25):
Over the life of the loan. That's a ton of money.
Speaker 2 (53:27):
Yeah, well, it's three hundred dollars per month. That's thirty
six hundred dollars in savings a year, or thirty six
thousand dollars over ten years. That's a significant savings. Three
hundred dollars a month. And they didn't They had ninety
four hundred dollars more in their pocket at closing than
they would have because they were charging them nine four
hundred dollars. We charged them zero for that for the
(53:49):
discount fee. So saved a nine grand right off the bat,
and then three hundred per month. Thank goodness. They compared
their quote. That first quote gave them payment pain too
high to keep their budgets, saying the fees were wild,
the rate was steeped, they couldn't close and still get sleep.
I slashed the rate and cut the fluff. Now their
(54:11):
payments just enough. Another winner compared with us and did
not miss the savings bus. Play the jingle.
Speaker 4 (54:17):
Fritz I missed the bus.
Speaker 2 (54:27):
I decided to not only don't miss the boat, but
I'm going to do other vehicles. So's thes either, don't
miss the boat. Compare your quote, don't miss the bus.
Compare with us more.
Speaker 4 (54:40):
Stuff coming, but.
Speaker 5 (54:44):
To work with us?
Speaker 2 (54:46):
Yeah, don't lose your hut. Compare your quote, you.
Speaker 3 (54:49):
Not your butt?
Speaker 5 (54:53):
Can we just put in a song?
Speaker 4 (54:57):
But surely yes, no idea.
Speaker 2 (55:01):
It is a bad idea, right.
Speaker 3 (55:02):
I disagree with that. So I meant just with this team, okay, okay,
when when workshopping, yes, but in life there's lots. It's
a really bad idea. Yeah, don what do you think
what you should do is go up to the area
where the dunk tank is and just tell him you
want to check to see the distance, so you know,
you could be at the proper aim and then just
push the button.
Speaker 2 (55:21):
Just karate kid that thing and see the crane post
and do a kick and just kick it.
Speaker 3 (55:26):
That just seems like people would talk about that.
Speaker 4 (55:28):
I'm gonna do it, be like no, I'm do People.
Speaker 3 (55:30):
Are gonna be like that mortgage guy down cheated.
Speaker 2 (55:32):
Maybe I shouldn't. Maybe I shouldn't announce ahead of the event.
Speaker 5 (55:36):
What am I gonna do?
Speaker 3 (55:37):
But no one's listening.
Speaker 4 (55:40):
Probably we're good.
Speaker 2 (55:42):
Well there you go, wait to bring it down.
Speaker 3 (55:45):
I just like, I don't think Ryan's listening, so he's
probably safe. But yeah, I don't know. I feel like
that's bad sportsmanship.
Speaker 2 (55:51):
But funny, I need if you see me anywhere near
the video, anywhere near the dunk tank, MJ. You need
a video of what's happening.
Speaker 3 (55:58):
Okay, okay, okay, we'll do.
Speaker 2 (56:00):
We'll do. It might be a classic.
Speaker 3 (56:01):
Deputy Scott says, Happy twenty fifth birthday to my baby boy.
Sponge Bob square Pants pool party tomorrow.
Speaker 2 (56:08):
Oh, that sounds like a treat.
Speaker 3 (56:09):
That's awesome. I like's twenty five and he still wants
a SpongeBob square Pants party.
Speaker 2 (56:14):
That'll soak all the water right out of the.
Speaker 3 (56:18):
If everyone is a sponge, right, it's funny.
Speaker 2 (56:21):
They need everybody to come in their life size sponge Coob.
Speaker 3 (56:24):
ID ask you. You know, there was a time when
we were really working on your social media following. So
is that what is that number now? Back when we
were counting down those numbers. Yeah, we were started last
so big now it doesn't matter.
Speaker 2 (56:37):
One hundred million followers. Yeah, no, I'm joking, of course, No,
it's it's it has gone up exponentially. I I the
last time I checked, we were in the two thousands. Okay,
I'm catching up on Fritz. Oh no, yeah, I might.
I might pass him.
Speaker 6 (56:54):
Up to you created a monster, yeah, just last year.
Speaker 3 (56:59):
For you're like, let me help the guy out. He's
got four followers and yeah, two of them are relatives
and one's his dog, and.
Speaker 2 (57:08):
Six of them are Fritz's burner accounts, right.
Speaker 3 (57:13):
And now look at him go.
Speaker 2 (57:15):
Yeah, well thanks thanks to all the folks out there.
You can check us out at that mortgage guy don
on Instagram and yeah, check it out. Follow and you
can also go and vote for us there. We've been
so grateful to be nominated by the good folks of
Orlando and the Orlando Weekly for best local financial Institution
and best Local Radio Voice. So all right, if you
(57:37):
go to my Instagram right down in the bio, there's
a link you can throw us a vote. Thank you
so much, and you know, give us a follow tell
your friends.
Speaker 3 (57:45):
All right, well we have a question here. All right,
I have been searching for a good investment property, and
I came across a mobile home park with sixteen least
units in Geneva, Tennessee. Seems to be consistent with a
good return, even at asking price. I'm wondering if I
can get a conventional third year on this type of property,
or is it a commercial or SBA loan. I haven't
made the offer yet since I wasn't sure about loan
(58:06):
options or rate planning on a twenty five percent down payment,
but can certainly do more if needed. Credit score around
eight hundred, self employee ten ninety nine, contractor for many years,
already own a homestead property. This is strictly investment. How
do I start that? How do I get started?
Speaker 2 (58:21):
And it's a sixteen unit mobile home park?
Speaker 3 (58:25):
Yeah, sixteen least units.
Speaker 2 (58:27):
Okay, Yeah, it's able home park. Okay, Yeah, we can
absolutely do those. That's not that's not a conventional type
mortgage loan though, that is a for sure a business loan,
probably an SBA loan. I think we did one on
a mobile home park about six months ago, and that's
that's going to be the way to go. We need
to get more information on the details, more information on
(58:49):
the business. You know the previous business financials, and you're
putting down enough money that's a twenty five percent is
a good down payment. But we can definitely help you
sort this one out. Best way to go is to
go to the website that mortgage guide Don dot com.
At the top there's a button for commercial loans and
there's an information form that comes to my email. So
just tell me a little bit about your business on
(59:10):
there and it comes to my email. I'll call you
and we'll see what we can figure out for you
and get you some quotes. You're listening to the Home
Loans Radio show. We'll be right back for the final
segment of today.
Speaker 1 (59:21):
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 (59:29):
All just like that, the show is almost over.
Speaker 6 (59:32):
You can still text this seven seven zero three one,
but you know, we'll probably get to it next week.
Speaker 5 (59:36):
And go to orlandoweekly dot com. Vote for Don best
local radio voice, and I think that's it.
Speaker 6 (59:45):
Oh, also Onstagram at that mortgage guy Don give him
a follow.
Speaker 2 (59:49):
There you go, please and thank you. Welcome back to
the Home Loans radio show. We're here. We're on the
final segment of Today. You can, if you're quick, you
can text something into seven to seven zero three one,
or if or not, go to the website anytime during
the week at that mortgage guy don dot com and
do it. There. Interesting the lending Tree. Lending Trees like
a real estate company, and they do different kind of
(01:00:12):
studies and surveys and you know, informational studies. And it turns
out they did a study on the top to the
top ten fastest growing metros in the in the country,
in the country, any idea, what would you guess is
number one? Any any well, who would you guess is
on the list? Top top top I mean, i'd expect us.
(01:00:32):
And I will tell you that five out of the
top ten are in Florida.
Speaker 3 (01:00:36):
I'm not surprised. I would expect Saint Pete Jacksonville. I
don't know what what are they?
Speaker 2 (01:00:44):
Well, it's interesting, it's Orlando. It's number two. Austin, Texas
is number one. Fastest growing metro Orlando, Florida number two. Northport,
Florida is number three. I don't know where Northport is.
Where's Northport? I have to look that one up. Sounds north.
And then we got Nashville, Tennessee, Cape Coral, Florida, and
(01:01:05):
then Colorado Springs, Charleton, Charleston, South Carolina, Lakeland, Florida, Deltona, Florida,
and Denver, Colorado. All right, so a lot of growth
in Florida, Texas, Colorado, South Carolina. Interesting, where would you
imagine the slowest growing the slowest growing metros are metros?
Speaker 3 (01:01:28):
I don't know.
Speaker 2 (01:01:29):
Any any shots at that one for.
Speaker 5 (01:01:30):
It's slowest growing metros in the country. New York, Yeah, New.
Speaker 2 (01:01:36):
York, New York's on the list, but Rochester, New York
is number eight.
Speaker 5 (01:01:43):
Frenches Mustard's from.
Speaker 2 (01:01:47):
Number three is Worcester, Massachusetts.
Speaker 3 (01:01:50):
That's where wor South comes from.
Speaker 2 (01:01:52):
That's a theme. Number two Cleveland, Ohio, Mayo, May Ohio,
Number one, New Orleans, Louisiana growing metros, and then also
on the list Toledo, Ohio, Curris curist here, yes, Joel,
New York. I don't know if I'm saying that right right, Well, Memphis, Tennessee.
(01:02:13):
It's interesting. So Nashville is on the top list, Memphis
is on the opposite list in the same state, and
then Chicago and a place called San Jose California also
on the list. But it's interesting Orlando number two fastest
growing metro in the United States.
Speaker 3 (01:02:28):
So is that part of what's going on with our
home prices?
Speaker 5 (01:02:30):
Is that good?
Speaker 3 (01:02:32):
Yeah? What does that mean? What does it mean? Breaking
down for tell us tell Us, tell Us tell us.
Speaker 2 (01:02:41):
It means that traffic sucks. Okay, Yeah, that's what it means.
It means every time I drive somewhere I'm in, I'm
in a traffic jam. But uh, it means growth. It
means building, It means building more apartments. It means more businesses.
Speaker 3 (01:02:56):
Any apartments.
Speaker 2 (01:02:57):
Yeah, and you know why, Well, Florida's is good if
you've ever been in sub zero weather and you know,
I don't know southern Canada or northern North Dakota or wherever.
You know, it's definitely different weather. Prevalence of jobs in Orlando,
you know, tourist dollars, and it's a it's a good
place to live. I like it here. I've lived here
(01:03:18):
my whole life. Guess what time it is, MJ.
Speaker 3 (01:03:22):
Oh, it's time for a speed It's.
Speaker 2 (01:03:24):
Time for the speed round.
Speaker 3 (01:03:26):
As the MJ said, Yeah, yeah, I'm gonna ask you
a bunch of questions I'm gonna ask them quick, and
you're gonna answer them like you do. Are you ready?
Speaker 2 (01:03:37):
Uh MJ's gonna ask a bunch of the ones we
didn't get to today real quick. If we didn't get
to yours, it does not mean I didn't want to
answer it. It just means we didn't have time. But
do copy paste it and send it to me DM
me on Instagram or send it to my email you can,
or at the website that Mortgage Guy Donna, and I
will answer it after the show.
Speaker 3 (01:03:55):
All right, Josh sent a question. It's a little long,
but the answer is short. I don't know about you,
but when I moved here, I felt like I got
bamboozled on my loan. It may or may not be
financially sound or refinance, but my current payment is about
to put me under. Could I send you my current
loan payment information or my mortgage statement from last year
to see if any relief is possible to get that
monthly payment down.
Speaker 2 (01:04:16):
Yeah. I go to the website that Mortgage Guy don
dot com. There's a place there that says asked on
a question, or actually go to the compare quote and
then just upload your mortgage statement in there and you
can write a note and say, hey, this is my
current mortgage statement, my situation. Can can you do any better?
And I'll take a peek at it for you for sure?
All right?
Speaker 7 (01:04:32):
Cool?
Speaker 3 (01:04:32):
Easy?
Speaker 2 (01:04:32):
Pas?
Speaker 3 (01:04:34):
How long does it take to close on an SBA
loan with you? Which is a Southern Voting Association, Southern
Battle Association, Southern Belle Association.
Speaker 2 (01:04:45):
Yeah, sneaky bratt.
Speaker 3 (01:04:48):
Smell that association, none of those things.
Speaker 2 (01:04:54):
Okay, Small Business Administration loan? What was what was the question?
Speaker 4 (01:04:58):
How long does it take a close one?
Speaker 2 (01:05:00):
Uh, thirty to fifty days, depending on you know, whether
it's one where it's going to be a structure built
or whether it's just a business entity that's being purchased.
So thirty days, forty five days, it's kind of the norm.
Speaker 3 (01:05:14):
How long did sorry? Can you do commercial loans in Georgia?
We listen online and we want to talk to you
about a commercial loan?
Speaker 2 (01:05:22):
Absolutely I can do. I can do commercial loans in
all fifty states and even in Puerto Rico.
Speaker 3 (01:05:28):
Puerto Rico.
Speaker 2 (01:05:29):
There you go.
Speaker 6 (01:05:30):
Yeah, that's America to me, baby, There you go, America
to everyone.
Speaker 3 (01:05:34):
Hit me up, well most everywhere. If my neighbor's tree
fell on my yard during the hurricane and caused damage
to my fence. Does their insurance cover it or does mine?
Speaker 2 (01:05:44):
That's a mystery. Yeah, it's going to be go.
Speaker 3 (01:05:48):
Look at the video.
Speaker 2 (01:05:49):
It's probably going to unless they were negligent in some way,
it's probably going to be on your insurance. But if
the tree was like rotted and stuff, then it could
be on their insurance. So that you get an insurance
adjuster out there, you know, from your insurance company and
take a look at it and they'll they'll tell you
like whether it's you or whether it's the other guy.
I think it's probably the best way to go.
Speaker 3 (01:06:10):
Finally, if you do a reverse mortgage, do you still
own your home?
Speaker 2 (01:06:14):
Yeah, it's no different than any other mortgage or like
you know, eighty percent of homes have a mortgage on them,
and there's that's still your house. You're still in the
deed entitle. A reverse mortgage is you get to stay
in your home after reverse mortgage for as long as
you want.
Speaker 4 (01:06:28):
To live there.
Speaker 3 (01:06:28):
Okay, here's our riddle. Liddle time a word. I know
six letters, it contains remove one letter and twelve remains.
Speaker 5 (01:06:40):
One more time.
Speaker 3 (01:06:41):
Okay, a word I know six letters it contains, remove
one letter and twelve remains.
Speaker 2 (01:06:49):
Hmmm, won't carry the fun.
Speaker 3 (01:06:54):
Think of a word that means.
Speaker 2 (01:06:56):
Twelve, doesn't I have that one?
Speaker 3 (01:06:57):
Okay? Then how could you add a letter to that? Dozens? Yep?
Speaker 2 (01:07:03):
Wow, I think we set up at the same time.
Speaker 3 (01:07:07):
Well, you're both with us.
Speaker 4 (01:07:08):
Baby, there you go.
Speaker 3 (01:07:09):
You have one.
Speaker 4 (01:07:10):
You did it, Yes, you did it.
Speaker 2 (01:07:12):
So the solution was to take off the s Yeah. Sorry,
you didn't write it. Yeah, just reads it, I.
Speaker 3 (01:07:22):
Jose, But it's getting pickens are slim out there, folks.
Speaker 2 (01:07:25):
Three hundred and five shows of riddles, well done. Yeah,
I'm jay. You know they can't all be banged.
Speaker 5 (01:07:31):
That one.
Speaker 2 (01:07:31):
That one's pretty good. We've had worse we have.
Speaker 4 (01:07:35):
That's why I like to keep the bottom every once
in a while.
Speaker 2 (01:07:39):
It's good to lower that bar down.
Speaker 3 (01:07:40):
Yeah, you know, keep things reasonable.
Speaker 2 (01:07:42):
Well, folks, you did it. You successfully wild away another
ninety minutes of your Saturday listening to us right here
on Real Radio one to four point one. Come and
check out the Ryan Holmes Comedy Show. There was a
handful of tickets left, so if you're lucky, you can
still get one. I'll be there tonight, tell you and
hi to folks, and that's it. Us out of here
with something cool all right the bone.
Speaker 7 (01:08:07):
You can think, you blag your.
Speaker 1 (01:08:32):
You've been listening to Home Loans Radio with that mortgage
guide don Join us every Saturday at nine am on
Real Radio one oh four point one and check us
out online at home Loans Radio dot com
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