Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:05):
Good morning, Lacy Pin.
Speaker 2 (00:06):
You're listening well from home show by Guardian Saving His
Bank Larry Freks. Tim Adam's in here with you this
Saturday morning. We're glad to have you tuned into us.
Hope you enjoyed Tom do pre this morning. He does
a good job with his show. Appreciate listening to him.
Speaker 1 (00:18):
And Banks Hope today from nine to one.
Speaker 2 (00:21):
Phone numbers eight five, nine, eight nine, nine one, nine
three six that's here in Hamburg South and drive is
eight five nine two six three three three three five,
So if you can hear, she can call us. Been
fairly busy this week. June started off on the right
track in my opinion. And Tim, I think you know
the first thing I want to be able to talk
about here is you know we've got this fifteen year
(00:44):
fixed rate special five eight seven five and the low
closing cost of five hundred dollars and that covers everything
other than your recording.
Speaker 1 (00:53):
Fee and any escros.
Speaker 2 (00:55):
So if you're out here listen and you have a
fifteen year that you've got over the last couple of years,
it's more than that. I'd say six percent, six in
and eight depending on the loan size. Tim it won't
want to. It won't take long to break even on
five hundred dollars in closing costs. No, sir, that's one
of the best schorts we've seen a long while. Of course,
(01:16):
that's a game winner, and you certainly should talk to
maybe your financial advisor before you enter into a fifteen
year term. But that's such an investment decision you're making
that you are going to accelerate the principal reduction of
your home and pet off sooner than later. And so
(01:36):
there's a lot of ways to get to being mortgage free,
and we like to discuss all of them on here
from week to week. Uh, there's no iron clad way
to get there. You can pay a little more every month, Larry,
you can do the lump sum with us and recast
a note, or you can go ahead and decide to say, hey, hey,
five point eh seven five on a fifteen year fixed loan.
That's sounds pretty active with our call. Absolutely, So just
(02:01):
keep that in mind. If you've got your own loan
that's above five eight seven five, you've got a family member, friend,
the mom, dad, somebody that you know has bought something
the last eighteen months, twenty four months or a little further.
They have to be on a fifteen year term. You know,
they're probably in the mid sixes and five eight seven,
(02:22):
five and five hundred dollars in closing costs. It will
not take long to break even. And we talk about
this on occasion. We talked about it forever. When we
first started the show seventeen eighteen years ago, Tim that
people used to feel like you had to have a
one percent rate drop for it to make sense to
consider a refinance, and that is not true.
Speaker 1 (02:39):
And the reason that is not true.
Speaker 2 (02:41):
Is because you have five hundred dollars in closing costs,
you know, it's not gonna take you too long to
break even. A one percent rate drop. It's something you're
gonna need with most other lenders out here, because they're
gonna kill you in an equity poll to cover the
cost of a refinance.
Speaker 1 (02:55):
And that's just not what we're gonna do.
Speaker 2 (02:57):
It's five hundred bucks, two fifty application fee and then
two fifty for the rest of it, and that's it.
You're gonna have a filing feed and probably what how
much is a final fee in Faye County eighty bucks?
N you know, eighty bucks. I think and then you're
gonna you know, if you're gonna have s grows and
being then of course set the do date to the
first of the month, so you might have ten days
of interest through.
Speaker 1 (03:16):
Fifteen or whatever.
Speaker 2 (03:17):
But anyway, five hundred dollars covers the appraise will tie
to work, loan closing, processing, underwriting, all the things we
need to put your loan together. And uh, I did
mention the praise a lot, I hope, but that covers
that as well. Yep. And you did you mention the
friendly customer service after the sale? Yeah, so the car
after you close, go ahead to explain to him, you
(03:38):
look going away? Where are your friend for life? And
I have friends that I've made and doing business here
at Guardian Savings Bank over the years, and and uh
one and more friends. And you know, we started as
a business relationship, but more we got to knowingman after
he did a couple of you had some you know,
curveball divorced during his uh his life, and I helped
(03:59):
him through that.
Speaker 1 (04:00):
And you know, now it called.
Speaker 2 (04:02):
Me up, let's go play a little golf.
Speaker 1 (04:03):
Well, okay, so these.
Speaker 2 (04:05):
Are just friendships I've made for a lifetime, really, and
the good thing about that Larry is that he sent
me a gentleman last week and he's a great referral
source and because he knows what we're all about. And
that's what Larry's talking about when we talk about service
after closing, we're not going away. We may bump into
(04:27):
your Kroger, you know, and we don't want to have
to run down the bread ale.
Speaker 1 (04:31):
If you're over in the cheese as.
Speaker 2 (04:32):
Yeah, we walk the walk and talk to talk, or
talk to the talk and walk the walk, however you
want to say it. Yep, it's a I had a
call this week with a good friend of mine. It's
been a client of ours for many, many years. Kim,
I'm not going to mention her last thing she knows,
so she is she worked a bauble in forever and
married a guy named Randy. But anyway, she calls that Larry,
(04:53):
we're changing homeowners insurance and I need I need a
little help make sure I'm doing this right. So guess
what we can help. You know what I'm saying to Ken,
this is what we need to do. Bang bang bang. Now.
The call I got this week is the son of
a guy that's been a client of ours for many
years now, the son's old enough to buy a home,
save some money and is interested in a property, so
I got to pre approval working with him. And that's
(05:14):
happened several times already this year. Where I'm doing the
kids of parents that you know I've did loans for,
you know, over the last eighteen years, Guardian Savings Bank,
And once they get in the family know how it works,
you know, they there's just not much of a better
deal in town that I know of, and we'd like
to beat local, stay local, and buy local. And that's
what you're doing with Guardian Savings Bank. Yep. But five
(05:36):
eight seven five on a fifteen year fixed eight. The
APR on it is five point nine three seven. And
you say, man, that ain't much of a difference between
the rate and the APR is just a breakdown of
what the cost of your loan is. If when you're
including the the cost to do the loan, so when
you're only paying five hundred bucks, the APR isn't much.
Speaker 1 (05:56):
Different than the rate.
Speaker 2 (05:58):
Now, if you had three or four thousand dollars in
flo in cost, you're you know, the APR could be
six in an eighth or six three eight or whatever.
But you have a fifteen year fixed five point eight
seven five percent closing cost of five hundred dollars. You
got title and recording fees, so that's not much at all,
and it's not long to break even. So if you
have a fifteen year fix you've got in the last
(06:19):
couple of years, it's going to be more than that.
If it's a quarter of a point or a half
a point, call us eight five nine eight nine nine
nine three six and tim, I do think that, you know,
this bond market's been fairly consistent this week, but you
know there's some more job reporting that's you know, going
to come out. We're taking this show a little bit
early because we've got stuff to do this weekend, but
(06:40):
you know, at this point everything's holding steady and in
good shape. And what people need to realize him the
mortgage rates are based on the ten year bond. You know,
we talk about this all the time, but a lot
of people pay more attention to what the Fed does with.
Speaker 1 (06:54):
The prime rate. You know what's prime.
Speaker 2 (06:56):
Seven and a half, yes, sir, So you know what
they're talking about is the FED fund, right. I think
that there was some news about that this week they
feel like now the Feds may lower the Fed Fund
rate zero point two five percent, you know, and that
should help in the bond market, which then could help
you know, these rates get a little bit better. And
(07:16):
keep in mind, if you're in the process of trying
to buy, give us a call, let us get your
pre qualified with the rates we have. If things change,
and then we'll you know, stay on top of it.
But the lower of these rates go, the more competition
you're going to have in purchasing.
Speaker 1 (07:31):
And that's a fact right now.
Speaker 2 (07:33):
If you qualify and you were quoted seven percent on
a thirty year fixed and you know, you marry the home,
date the loan, and when the rates come down, we'll
refinance it. And that's the main thing is get it
in getting the home you want and then paying attention
to the market, stand in contact with us, and we'll
keep you up to date and try to help make
sure that you have the best rate available as that
(07:54):
come along and their issue does to be able to offer.
And that's part of what you get at Guardian Savings.
We're going to service your loans, stay on top of
what's going on, and help you as we can. We
are a community bank. And that's the other thing that
we are proud of that comes with your loan servicing
is a bank that really cares about some of the
(08:15):
needs in our community. And I happen to catch on
the news this week our friend Jenny Ramsey, and we're
talking about homelessness in Fayette County here Lexington up thirty percent.
She hasn't seen it this bad in her many years
of providing a wonderful community service to the homeless population.
(08:39):
So I know there's a lot of need out there.
We've got tornado victims down in southern Kentucky and Pulaski
County and Lawl County, but we can't turn our back
on our homeless population as well. There And if you
have a heart for giving, and maybe somebody just needs
a break, And I know the Rescue Mission as we
talk about them every week, they do great things for
(09:01):
our homeless population by providing resources and help maybe to
get someone back on their feet. Maybe that's all it takes, well.
Speaker 1 (09:08):
And we will do what we can to help with that.
Speaker 2 (09:11):
But we want to help people right now get pre
qualified and if you're capable of buying a home, make
sure that happens right, like I say, marry the home,
date the loan.
Speaker 1 (09:18):
But we're involved in several different things.
Speaker 2 (09:20):
We did lunch and learn this week with some people
that we're holding a class on education and recognizing issues
that people may have in the area with Alzheimer's and
to mention those types of things. And there's a lot
of different groups out here that are you know, there's
a lot of people that are dealing with things that
you don't know about and you're trying to talk with
them and handle business. And that was pretty educational. We'll
(09:42):
try to get them to come on the show and
talk a little bit about some of the resources and
things that are out here to help. But you know,
it's more than just mortgages to us here. I mean
we're part of the community, you know, tim building our
wheelchair ramps, trying to feed the homeless, trying to provide
housing for the homeless, and the real the Housing Foundation
has a lot to do with that. They're very generous
(10:02):
and they're very supportive in all of these things. So,
you know, Ant Guardian, you know, like I say, be
local by local and stay local. We're here. I mean,
this is a bank that is right here in this town.
It's you know, we're using local appraisers, local closers. You know,
we service your loans. You know, you're not going to
be paying somebody in Washington or something. You know we're
(10:23):
gonna you can call it, drop in, drop make your
payment right here in the tailor window, or come in
the branch, have some coffee, have a cookie, and make
a payment. People are getting back out again, and you know,
I think people are settling in.
Speaker 1 (10:34):
On the rates that we have.
Speaker 2 (10:36):
You know, I mean this five eight seventy five is
a rate special, and I don't know anybody else that's offering,
but you know we're six eight seven five on a
thirty or fixed and six sixty five on a twenty
and uh and in our fifteen is five eight seven
five And the closing costs on this particular rate specials
five hundred bucks plus titling recording fees. It's not going
(10:56):
to be too much of a burden on you to
break even if we can save your quarterable point half
a point or even more than that, and we put
loans together and help people with that. This year, tim
even though we've taken their you know, some of their
debt maybe from four percent to higher rate. But the
biggest one I did this year was the guy I
put the loan together for him, saving.
Speaker 1 (11:16):
Twenty six hundred bucks a month, you know.
Speaker 2 (11:18):
But he did increase his mortgage interest rate, but he
consolidated enough for the bill e's equity to save twenty
six hundred dollars a month. Man in payments, Tim, can
you imagine that's a twenty six hundred dollars a month
pay raise, you know, pretty much, and consolidated several bills.
Speaker 1 (11:34):
Down into one. So keep that in mind.
Speaker 2 (11:38):
And I can't wait for the arm rates to get
a little bit better and a little bit more in playoff.
That's what I have, and that's what you have. And
you know, that's where you're paying the true cost of money.
And you know, right now at three and a half,
it's in and go up this fall. Things don't change,
but I'll still be below the curve on what other
people are paying. And but I'm you know, I like
(11:59):
that type of loan program, and we sold a lot
of them. Right now, the rates are just not any
better than a fix, So take a fixed. But you know,
once again, marry the home date the loan. You can
refinance at any time. I did have a realtor reach
out to me yesterday Britney Markham, and she was asking me,
do you have to be in the house six months
before you can refinance? You can refinance at any time.
You know, the first year you're gonna get, you know,
(12:20):
the lesser of the two of the purchase pressure, of
the appraise value in what they're gonna assess it at.
But other than that, you can refinance it anytime. If
you're in a two months, three months or whatever. There
is no time limits. We're gonna take our first break
for today. Banks over to day from nine to one.
Phone numbers eight and five, nine, eight nine, nine one
nine three six South and Drive eight five nine two
(12:40):
six three three three three five. So if you can
hear she can call us. You are listening to Welcome
Home Show by Guardian Davies Bank on news Radio six
thirty w LAP. We'll be right back. You're back listening
to Welcome Home Show by Guardian Davy's Bank. Three phrase
ten Madams coming at you the Saturday morning. We appreciate
you tuning in to us. Hope you're having a good weekend.
We are open to day from nine to one. Phone
(13:02):
numbers eight five, nine, eight nine, nine one nine three six.
That's here in Hamburg and here's at this location. Alex Tangle,
Lorie Hawkins, Tim Adams, myself, Larry Friskmmderis, Rob McBride, Southland
Drive eight five nine two six three three three three five.
Same people over there, Erin O'Brien, Jamie Mortimer, Alex Vllani,
Jim mackenzie. I've had the same crew of people in
(13:22):
here doing loans for many years and if we can
help you, please give us a call. If you get online,
you know put that you want to deal with somebody
in Lexington. I want to point that out. You can
go online and find Guardian Savings Bank. But if we're
finding out that there's a person up there that'll take
the phone and he'll he'll help you.
Speaker 1 (13:37):
If you've done.
Speaker 2 (13:38):
Business with us or not down here, well we'd like
to we'd like to do it. We'd like to earn
the money and feed our kids. Yep. So just call
at this location eight five nine, eight nine, nine one
nine three six or Southlands two six three three three
three five. We'll do it. We can't put that loan together. Well,
I just saying since we are the home of the
UK Walcats. I just wanted to congratulate our baseball team.
(13:59):
I watched it every inning of it on Saturday and
doubleheader on Sunday. They played their hearts out. I'm really
proud of the way they pulled together and played. I
think playing two games in one day is just very difficult.
As you know, there's only so many pictures that can
go around, So we might have got a lot of
little light in the picture department on Sunday.
Speaker 1 (14:21):
But the UK.
Speaker 2 (14:23):
Showed a lot of heart and only went down in
the last inning. They won't be advancing in the n
C two A, but I sure was proud of them,
and we put a hurt and on Clemson. That was
as as anything I watched in a while. Yeah, I
didn't watch too much of it. I've been watching the
Women's College World Series, you know. I coached softball for
a long time. And the picture for Texas Tech we
(14:44):
got the face back in the day. We had to
go hide and play because of COVID, and we had
a place down in southwestern Kentucky that we could go
to where the sheriff with leave us alone and all
the kids got out on the field and Tannaday was
the picture for Louis Sluggers. Catcher was from Florida State
last year. A six seven people that we've played against,
and I don't think I've ever seen and many times
in my watching baseball, we had to use our first
(15:06):
basement to pitch, so I've never seen a first baseman
take the mound in the middle of an inny. You know. Obviously,
like you said, they were a little thin on the
pitch it. But I, like I say, I'm a Women's
College World Series fan and now had a girl last
year Pittro, Oklahoma. Now she's a grad assistant, Charlie Keeney,
and she pitched with us a little bit on my
(15:26):
team and just a great family. And then to see
the girl throw every inning of the College World Series
so far that we played against and just good kids. Man.
We had a good time playing against them. Wasn't any
college coaches out, but we you know, got out and
learned a lot. Had a younger team than them. They
were the good little Sluggers always has a nice team.
So it's fun. It's a good time, and that's what
(15:47):
I'm watching. But I watched some of the well, the
Men's World Series when it gets gone and see how
it shakes down that the kid out of a Georgetown,
the Scobie kid out of Georgetown up there, had a
good year for South Carolina. And love to see local
kids get out and do good. And I know there's
a lot of them out there that we aren't familiar
with or maybe overlooked, but I remember his dad from
(16:10):
playing softball and glad to see him get out and
do good this year. So fun time of the year.
Everything's winding down on the college seeing seniors would be
their last go around, but hopefully the momentum of being
in the NCAA tournament will help the guys. The girls
were in it as well, so they didn't fare very
well and last very long, but they it's good for
(16:30):
them to get in. You know what I don't like
now is is that like now, you know, Tennessee's got
to play Arkansas, so we're knocking SEC teams out. The
way the brackets are set up so that it limits
the number of people that can make it to omahall
that represent the SEC. And that's kind of how they
did the basketball tournament as well, in my opinion. But
be fun. Yet, all these super regionals now I'll be
(16:53):
coming together and it'll be fun to watch some of
the games. It's always a good time. So anyhow, get
out to see it and see what's going on around town.
Music wise, there should be some stuff going on to
Fists and Willies or Austin City or Cocktails Too, or
Signature Club. Get some good music on occasion, hire Proof
(17:14):
Bight of Way. There's always got some good music. And
you know, Lexington's got a nice scene. Just get out,
be careful and you know, uber, if you need to
be safe and have a good time, you got to
open night. Mike usually out at the Hotel Lex. Yeah,
Barrel fifty three on Tuesday nights has been open mic
night out there and it's been, you know, fabulous. I mean,
(17:35):
the talent is just unreal that people come out there
and play about three songs.
Speaker 1 (17:39):
They got good sound. But Barrel fifty three.
Speaker 2 (17:42):
Out there at the Hotel Lex right there right off
the Highway, and I enjoy going out there and listen
to Thursday nights or Blues Night Saturday, they'll have a
lot of music. I'm not sure who's out there this evening.
Last Saturday it was eight days sober. It was Elijah and.
Speaker 1 (17:54):
Keith and Justin.
Speaker 2 (17:56):
They put on a really good show, had a packed house.
So anyhow, we are going to take another break. You're
listening to Welcome Home Show by Guardian Savings Bank. We're
open to day from nine to one. Phone numbers eight five, nine, eight, nine, nine, one,
nine three six southn drives eight five nine two six
three three three three five. So if you can hear us,
you can call us. You're listen to Welcome Home Show
(18:16):
by Guardian Savings Bank on News Radio six thirty eight.
Of you, lad, We'll be right back with your back.
Speaker 1 (18:22):
Listening to Welcome Home Show. A boy Guardian Savings Bank.
Speaker 2 (18:25):
I'm Glarry, Frank's come a partner in here, Tim Pinky Adams.
Any of you people have been around Lexington for a while,
No Pinky. I've always said that having that nickname is
the unfair advertising advantage because a lot of people call
you Pinky regardless of where we're at, if we're Canlan
or Double Dogs or Beads or Rafferty's every hey Pinky.
(18:47):
So but I know several Tim Adams. Got some other
Tim Adams this week from Richmond. My engineering buddy got
to see him in my.
Speaker 1 (18:53):
Bible study banks over day from nine to one.
Speaker 2 (18:56):
Phone numbers eight five, nine, eight nine nine one nine
three six Southland Drives eight five nine two six three
three three three five. So if you can hear so,
you can call us talking about our limited time offer.
It's a rate special fifteen year fixed five point eighty
seven five. Closing costs five hundred dollars plus title and
recording fees, So you're going to get a refinance that's
(19:16):
going to be very nominal in fees and the the
servicing and everything that we do have the everything in
line to save you some money if you'll give us
an opportunity. And if you've got a mortgage over the
last couple of years, a fifteen year, you're probably in
the sixes somewhere. I think tim six and a quarter,
(19:37):
six and a half possibly depending on when they got it.
But five eight seven five can make a decent savings.
Have a couple of months without having a payment and
you know, be out of pocket or just.
Speaker 1 (19:46):
Actually use the equity.
Speaker 2 (19:47):
You just have two fifty out of pocket and application
fee you get credit for that, but five hundred dollars
in closing costs. You can't beat it, man, you know,
there's just no better deal in town that I'm aware of.
You absolutely not. It's just it's a great time to
refinance if you're you know whatever, sevens some I've seen
(20:09):
eight even six point seven five. You're dropping almost a
full percentage point. Yeah, and you're shortening your term possibly,
but you know, just give us a call and let
us take a look at If it makes sense, we'll
do it.
Speaker 1 (20:20):
If not, we'll know when we can.
Speaker 2 (20:21):
Don't cost you anything, maybe about five minutes worth of time,
get an application over the phone, get some numbers put together,
and see what we can may have. And that's what
we're here to do. So we just not familiar with
anybody else right now offering five eight seven five, and
we take advantage of it if you can eight five
nine eight nine nine nine three six. We'll see if
(20:43):
we can put it together. Before I was going to
mention ten a little bit about credit again. We've been
talking about over the last couple of weeks and how
important it is to keep your bills paid on time.
One of the things is I've had a lesson that
I've I had to have this spring, and it was
about authorized us and I have two daughters and I
had them on as an authorized user to get them
(21:05):
some credit history started and worked out good for them.
Now they've got their own credit and their own names
and so on and so forth. But authorized users. My
deal that I came across and had a lesson on
is I had a kid that had great credit scores.
He only had two credit items. He had one that
was an authorized user and one was his credit card.
And Freddie Mack had a problem with just him having
(21:29):
those two things and the authorized user part. So when
you get out and you're able to start your credit
on your own, it's a good thing. And if you're
a parent and you're going to help your kids get
started with their credit, and you're going to put them
on as an authorized user as soon as they can
get some cards on their own as far, I don't
care if it's a Circle K gas card and they
pay it in full every month, or they get a
card they put their cell phone on, pay it in
(21:51):
full every month in their own name. You know, those
things are important, and your credit is the heartbeat to
your ability to borrow, and it's easy to maintain once
you get going, but it's important for you to pay
attention to it.
Speaker 1 (22:06):
As it's going, because.
Speaker 2 (22:08):
You know, one flaw, one thirty day passed and so
on and so forth can be you know, detrimental to
the score, and then it changes a whole lot of
the financing options you have as you go along.
Speaker 1 (22:16):
So pay attention.
Speaker 2 (22:18):
And you know, Laurie and I used to do a
class over at the UK and their finance department and
we would talk about credit credit repair and how the
credit report reads and what type of a balance you
can have on your credit card so that it's not
detrimental to your score. And I know right now, with
the economy being what it is, there's a lot of
people with more credit than what they run up than
(22:40):
what they want to have tim I mean, we keep
hearing that all the time, don't It's one of those
things that you know, you just got to be aware of.
But if you're going to help your kids, put them
on as an authorized user and a lightly use account
that you pay on a regular basis. They don't have
to have access to the card. You can just use
them as an authorized user. I only have to know
that you've done it, and then let them get their
(23:02):
own stuff started as they have an opportunity with their
jobs and so on and so forth, and that can
make a big difference in things that they can do
as they go along.
Speaker 1 (23:10):
And it's I haven't talked about it.
Speaker 2 (23:13):
We talked a little bit about it last week and
week before, but that's important. Something else we found out
on insurance claims. You know, we've had a lot of
wind damage, a lot of crazy weather come through here,
and they've changed some of the process on getting funds
to be able to help you know, with your repairs
from your insurance company. So there's always something changing in
(23:33):
the market and the economy, and sometimes it makes it easier,
sometimes it makes it harder. But it's all done for
protection of either you know, the bank and or you
mainly both of us, because if we have your house's
collateral and there's some damage, we want to make sure
that it's put back to market value. You know what
I'm saying to him. Have you ever had to have
any work done at your house and with an insurance claim? No,
(23:56):
not on this house.
Speaker 1 (23:57):
No.
Speaker 2 (23:57):
I did have a roof claim on my other house.
But I get these things in the mail all the times.
Is my home might be eligible for a claim because
of the weather we've had here, but no, I'll never
food a claim in your new house my all my
home insurance. Yeah, we had win hail damage on food, yeah,
and hopefully you don't. And it's just that some of
(24:20):
the that's another process that's changing for us as far
as helping people do that, and it's going to happen
to everywhere. I don't care where you're doing your loan at,
where your mortgage is at. But these rates are getting
a little bit better in my opinion. The bond market
is holding steady. This week. We'll see what happens with
the rest of these reports.
Speaker 1 (24:33):
But the main thing is if.
Speaker 2 (24:34):
Five eight, seven, five fifteen year fixed eight five hundred
dollars in closing costs, then you'll have some a little
bit of title and recording fees, which I don't think
is very much at all. Recording fees maybe eighty bucks
and the titles not much to ninety two fifty to
twenty five something and that's about it. So you could
get refinanced with it and not including your escros for
(24:55):
eight hundred bucks maybe or less. But the main thing
is to just call, let us see if we can
put something to give us. Say as listen to Tim
and Larry, I want to talk to them about this
five eight seven five Every once in a while. These
are for refinances, no cash out refinances. It's just a
reconstruction of your amateurization scheduling rate on a fifteen year fix.
Every once a while we can do purchase at that.
(25:15):
So if we can run it up the pipeline, once
we get enough information from we may be able to
get a purchase approved at this five eight seven five
on a fifteen year fixed and five hundred dollars in
closing costs. Then that could make a difference for some people.
Fifteen year term makes the payment a little bit more,
get more bang for your buck, paying your house off quicker,
And I know you're a big believer in that, but
some people do it. I want to stay on this
(25:37):
thirty year amortized payment because every month more of your
payment goes to principle. If you didn't know how it works,
every month is a little bit more, a little bit more,
so you're building equally a lot faster as you go
down into your mortgage. So I've been in my home
now fifteen years and hopefully I can be out the
next five. Yeah, based on my investments, we'll see how
(25:59):
it goes well. I mean, have you got a vision,
you got a plan, and you're going to try to
get liquidated the next five years. I don't blame you,
and they're not making any more land. You got it
in a great location. You know your house is appreciating
tremendously where it's at. It's been well kept, and I think,
what's would he say that the average increase in central
Kentucky five to eight percent on value? You got five
to eight percent appreciation. You're paying down each month, so
(26:22):
you're creating liquid it's an instigated savings account. We just
hope you'll give us a call eight five nine eight
nine nine one nine three six and see if this
five eight seven five makes sense for your budget. And
as you mentioned earlier, ten, they might want to check
with their financial advisor to see what you know could
be a good strategy for him. And if you're getting
ready to retire and you're getting ready to make some
changes with your income like that, please give us a
(26:43):
call and let us see what we can do mortgage
wise before you get to that point, because after you retire,
there's no more pace up, there's no more overtime, there's
no more bonuses, and it's tough sometimes to make everything
work with the new structure of your income. And we've
had it happen. But if we can get you before
and get it taking care. You know you're going to
retire in September, let's get going. If you're going to
retire this fall, let's get going. Get a plan together,
(27:05):
get your financial advisor, get your flow going, and know
exactly what you're going to have to work with each month.
And it's a big difference to a lot of people.
Ten We've seen it over and over. I'm actually meeting
with a specialist for elder long to make sure all
my ducks in a row for my mother and how
I can best position myself to make sure we have
adequate resources to make sure she's happy. You know, it's
(27:28):
very important to just have simple, simple will, at least
to you know, trying to protect your assets son, to
make sure they go to the where they're supposed to go.
And of course I would tell you to go a
little further and maybe explore a trust to hopefully eliminate probate.
Some of those services get a little pricey, Larry, when
(27:49):
you talk about setting up wheels and trusts. But you
can set up a wheel on a just ain't to
have a eleven sheet of papers. As long as you
sign it and notarize it, I think you would hold up.
But if your estate would probably have to go through
probate unless you have other legal instruments to help, you know,
(28:12):
alleviate that from the from your state going through probate, right,
And I think I'm trying to I understand, and I
think that the trust. I believe in the trust, and
I think there's some people out here that you could
proa pay a flat fee and get yourself set up.
I know, you know. And people think you've got to
have a whole lot of money and a whole lot
of stuff to have to consider a trust. But a
(28:32):
trust just keeps everything in the control of the executors.
And you don't have probate, you don't have an attorney.
You're paying to read everything and oversee every distribution that
the executors trying to do. You know, it can you
can burn a lot of money that you've set back
to try to help the next generation of people in
your family by not having a trust. I mean, a
(28:54):
whill is gonna it's gonna eat up a lot of
your funds. If you don't, you know, don't prepare and uh,
and that's why you're looking into and I know that's
why ever we've seen it happen. So just be aware
of what's available out there and we'll try to guide
you the right way. If you want to give us
a call. We've got some good financial advisors, some people
that help with those types of things. So the main
(29:15):
thing is back to the subject at hand. If you
think that your future and the next several months is
going to be to retire and you're going to go
from having a full time job to a fixed income,
give us a call. Let's take a look at what's
going on. Let's look at what your cash flow is
projected to be. Talk to your financial advisor and if
this five eight seven five suit you, let's do it.
(29:35):
You know, if we need to do something different, let's
have a plan and a vision so that when the
rates get to the right point, we can do it.
But I'm just promising, I promise you that it's easier
to do it while you still have your job. Payment
may not go up too much, but your performance will
go up greatly. Right with a shorter term and lower rate,
(29:56):
and that's what the fifteen year would offer to you
five hundred dollars in closing costs. So if you if
you're in a financial advisor and you're not familiar with
this too awful hunch, just give us a call, and
you know, we can run the numbers and you can
see exactly how much bang for your dollar you're getting
on this tope of a loan program and how you
can help the people that you're advising. It's just something
(30:19):
that's easier to do before you quit your job and
start your retirement income. I mean, it just makes a
big difference easier to do before you do it. Just
plan and then get the thing done, and then if
you retire and then after that you already said yourself
set up. But some people come to us after the fact.
You know, hey, I need to do something. This is
you know, my payments a little bit more than what
(30:39):
I hart and I need to increase my cash flow
a little bit. So house and if you heard it,
freight's go below six.
Speaker 1 (30:46):
I'm in yeah, exactly, ding ding ding ding ding ding.
Speaker 2 (30:49):
Here's a chant exactly. We're got to take another break.
We hope you're enjoying the show. I'm Larry Freight for
Tim Adams. We're going to be right back, and we
got one session left. Banks over to that nine to
one when them is eighty five nine.
Speaker 1 (30:59):
Eight one, nine three six. You're listening Welcome Home.
Speaker 2 (31:03):
Show by Guardian Savings Bank on news Radio six thirty.
That's right here on w LAP.
Speaker 1 (31:09):
Hey, we'll be right back.
Speaker 2 (31:11):
You're back listening to Welcome Home Show by Guardian Savings Bank.
Speaker 1 (31:14):
Very freaks. Tim Adams in here coming at you. I
hope you've enjoyed the show. Appreciate you tuning in and
listening to us. Gotta throw a shout out to my
man Denver down in Richmond.
Speaker 2 (31:22):
I know he's listening in and he'll give me a call,
give me a run down on the information we put
out Tim and let us know how good we did.
So hopefully that'll come in on a good report. He'll
give us an a this week. You're generally happy with
what we have to say. Him and old Rick Jones
down there, Jason Strafman, you know the guy did your
deck over there. He's he likes to listen in see
what we've got to say. But broke to day from
(31:43):
nine to one phone number eight five, nine, eight, nine, nine,
one nine three six South and drives eight five nine
two six three three three three five. So if you
can hear us, you can call us. And we've been
talking about it all day. Five point eight seven five
fifteen years, six five hundred dollars and closing costs. Give
us a call, let us see if we can put
it together for you. Get you on a shorter term,
(32:05):
maybe save you some money. If you're already on a
fifteen year, fix at higher than that, don't take too
long to break even. Talk a little bit about credit
authorized users. Make sure you're paying your bills on time.
Talk a little bit about today if you're getting ready
to retire, reviewing your financial situation, knowing what your incoming
out goes going to be, and let us try to
(32:27):
help you get something, if needed, put in place before
you get to that final retirement date, because it's harder
to do after you've retired and everything starts changing and
tim you just you mentioned earlier, you're getting ready to
start getting some of your Social Security or something right.
You've been through the ringer trying to get that anage. No,
(32:49):
it hasn't been too bad to get to go ahead,
and I'm going to start taking my benefits at my
full retirement age, which is sixty six years and eight
months old. But no, it was all online and been
fairly seamless, and as I understand, if they kind of
they delay the first payment out anyway, but it'll eventually come.
(33:09):
I don't know. It's debated every day on whether when
you should go ahead and text so security. But in
my situation, I don't have to retire and I can
and there are no earning caps now that I've waited
until my full retirement agent. That's always based on your
age and when the day of your birth it's different.
For if you were born in fifty seven, it's going
(33:30):
to be different. Unbelievably. You know everything I was reading
about you know what's happening with some of our agencies.
I was concerned that it would there would be delayed,
but so far so good. Knock on, would there you go?
And it's going to be a change, But you're still
going to be here doing loans absolutely, yeah. I got
(33:52):
kids in college still, so I don't want to retire.
I want to keep doing what I'm doing, and you know,
this can does give me a little bit more flexibility
that at least I haven't something coming in every month
that I certainly can't count on to pay all my bills.
But uh, and that's where you know, what we've done
(34:16):
in our retirement accounts, and that's what you work all
your life for is to build enough up. We're between
your social Security and what you have in your four
oh one K, and you'll you can start taking distributions
if you have to, but I want to hold it
off and taking distributions there because I hope that we
do have a swing here in interest rates. And when
that happens, I think we're going to be busier and
(34:38):
a b yard worker. So you know, that's that's that's
the good news that we keep hearing positive information about
that rates may correct later this year. But you've been
asking for something below six and we're offering that right now.
So a fifteen year fix it could be an ideal
situation for you. So we've talked about that today, and
(34:59):
that's you know, it's time to make those decisions. If
you're paying a higher interest rate, it's time to start
considering changing the direction of your mortgage. Yeah, five eight
seven five on a fifteen years six five hundred dollars
in closing costs. I mean, shop around town see who
else has got it, you know. And the thing about
it is, if we do get it, you're going to
be paying Guardian. We're going to be right here. If
(35:20):
something comes up, something happens, you need help, what have you.
Speaker 1 (35:23):
You know, you're going to be calling Guardian. That's what
you know.
Speaker 2 (35:26):
Our claim to thme is and that's why we say
when you're in the family, you're in the family. We
want to keep you, we want to help you, and
we want you to call call these local numbers eight five, nine,
eight nine nine one nine three six. I've been listening
to ten and Larry. I want to talk to them.
If you get online, you're going to get the same deal,
but you're going to deal with somebody from northern Kentucky.
And we you know, we want to feed our kids.
So just give us a call at this local level.
(35:49):
If you get a hold of somebody up there, they
call you back from something you've done online, just tell
them I want to work with somebody in Lexington. They'll
get you down here. And if you've worked with me
in the past, love to do it again. If you
weren't happy with me, let me find you another one
officer here. The programs are still the same, but I
know there's been times when the appraiser didn't show up
or something happened, and you know, somebody gets gets upset.
Speaker 1 (36:10):
Doesn't happen very often.
Speaker 2 (36:11):
But we'll take care of each other, you know, and
especially if you're listening to the show, give us a call.
We will personally handle your call. Yeah, just calls. I
want to talk to timor Lay and wherever repped. If
we're here, we're going to get the call now. They'll
send it straight to our cell phone and I have
no problem with that. I'll get calls twenty four to seven.
And if you listen off enough, you know it's already. Yeah,
you know, well you know what's going on, so we uh,
(36:32):
you know, well, if it doesn't make sense, they won't
let us do it anyway. But you have nothing to
lose by looking into it to see what we have
to offer. And right now it's five eight seven five
on a fifteen year, fifth thirty or fixes six eight
seven pie, you know. And we've been working with some
sellers that are willing to pay some clothing costs and
we're buying some rates down and that's saving some people
(36:53):
some money and it's making the payment a little cheaper.
So keep that in mind as well in your negotiating tactics,
and if you want some help and advice on that,
we'd be glad to do that as well. But we
appreciate you tuning in to us. You'll listen to some
music today. Of these guys, it's gonna be at the
horse park out of here, at the Bluegrass Spirit of
the Bluegrass, I'm trying to say, So listen to those
guys and see what's going on. Banks over today from
(37:14):
nine to one for numbers eighty five nine eight nine
nine one nine three six Southend Drives eighty five nine
two six three three three three five. You can hear
what you can call us. We appreciate you listening to us.
Hope you have a great weekend. You've been listening to
Welcome Home Show by Guardian Savings Bank on News Radio
six thirty. Let's show you lap be back next weekend.
Good morning, Lacy Pin.
Speaker 2 (00:06):
You're listening well from home show by Guardian Saving His
Bank Larry Freks. Tim Adam's in here with you this
Saturday morning. We're glad to have you tuned into us.
Hope you enjoyed Tom do pre this morning. He does
a good job with his show. Appreciate listening to him.
Speaker 1 (00:18):
And Banks Hope today from nine to one.
Speaker 2 (00:21):
Phone numbers eight five, nine, eight nine, nine one, nine
three six that's here in Hamburg South and drive is
eight five nine two six three three three three five,
So if you can hear, she can call us. Been
fairly busy this week. June started off on the right
track in my opinion. And Tim, I think you know
the first thing I want to be able to talk
about here is you know we've got this fifteen year
(00:44):
fixed rate special five eight seven five and the low
closing cost of five hundred dollars and that covers everything
other than your recording.
Speaker 1 (00:53):
Fee and any escros.
Speaker 2 (00:55):
So if you're out here listen and you have a
fifteen year that you've got over the last couple of years,
it's more than that. I'd say six percent, six in
and eight depending on the loan size. Tim it won't
want to. It won't take long to break even on
five hundred dollars in closing costs. No, sir, that's one
of the best schorts we've seen a long while. Of course,
(01:16):
that's a game winner, and you certainly should talk to
maybe your financial advisor before you enter into a fifteen
year term. But that's such an investment decision you're making
that you are going to accelerate the principal reduction of
your home and pet off sooner than later. And so
(01:36):
there's a lot of ways to get to being mortgage free,
and we like to discuss all of them on here
from week to week. Uh, there's no iron clad way
to get there. You can pay a little more every month, Larry,
you can do the lump sum with us and recast
a note, or you can go ahead and decide to say, hey, hey,
five point eh seven five on a fifteen year fixed loan.
That's sounds pretty active with our call. Absolutely, So just
(02:01):
keep that in mind. If you've got your own loan
that's above five eight seven five, you've got a family member, friend,
the mom, dad, somebody that you know has bought something
the last eighteen months, twenty four months or a little further.
They have to be on a fifteen year term. You know,
they're probably in the mid sixes and five eight seven,
(02:22):
five and five hundred dollars in closing costs. It will
not take long to break even. And we talk about
this on occasion. We talked about it forever. When we
first started the show seventeen eighteen years ago, Tim that
people used to feel like you had to have a
one percent rate drop for it to make sense to
consider a refinance, and that is not true.
Speaker 1 (02:39):
And the reason that is not true.
Speaker 2 (02:41):
Is because you have five hundred dollars in closing costs,
you know, it's not gonna take you too long to
break even. A one percent rate drop. It's something you're
gonna need with most other lenders out here, because they're
gonna kill you in an equity poll to cover the
cost of a refinance.
Speaker 1 (02:55):
And that's just not what we're gonna do.
Speaker 2 (02:57):
It's five hundred bucks, two fifty application fee and then
two fifty for the rest of it, and that's it.
You're gonna have a filing feed and probably what how
much is a final fee in Faye County eighty bucks?
N you know, eighty bucks. I think and then you're
gonna you know, if you're gonna have s grows and
being then of course set the do date to the
first of the month, so you might have ten days
of interest through.
Speaker 1 (03:16):
Fifteen or whatever.
Speaker 2 (03:17):
But anyway, five hundred dollars covers the appraise will tie
to work, loan closing, processing, underwriting, all the things we
need to put your loan together. And uh, I did
mention the praise a lot, I hope, but that covers
that as well. Yep. And you did you mention the
friendly customer service after the sale? Yeah, so the car
after you close, go ahead to explain to him, you
(03:38):
look going away? Where are your friend for life? And
I have friends that I've made and doing business here
at Guardian Savings Bank over the years, and and uh
one and more friends. And you know, we started as
a business relationship, but more we got to knowingman after
he did a couple of you had some you know,
curveball divorced during his uh his life, and I helped
(03:59):
him through that.
Speaker 1 (04:00):
And you know, now it called.
Speaker 2 (04:02):
Me up, let's go play a little golf.
Speaker 1 (04:03):
Well, okay, so these.
Speaker 2 (04:05):
Are just friendships I've made for a lifetime, really, and
the good thing about that Larry is that he sent
me a gentleman last week and he's a great referral
source and because he knows what we're all about. And
that's what Larry's talking about when we talk about service
after closing, we're not going away. We may bump into
(04:27):
your Kroger, you know, and we don't want to have
to run down the bread ale.
Speaker 1 (04:31):
If you're over in the cheese as.
Speaker 2 (04:32):
Yeah, we walk the walk and talk to talk, or
talk to the talk and walk the walk, however you
want to say it. Yep, it's a I had a
call this week with a good friend of mine. It's
been a client of ours for many, many years. Kim,
I'm not going to mention her last thing she knows,
so she is she worked a bauble in forever and
married a guy named Randy. But anyway, she calls that Larry,
(04:53):
we're changing homeowners insurance and I need I need a
little help make sure I'm doing this right. So guess
what we can help. You know what I'm saying to Ken,
this is what we need to do. Bang bang bang. Now.
The call I got this week is the son of
a guy that's been a client of ours for many
years now, the son's old enough to buy a home,
save some money and is interested in a property, so
I got to pre approval working with him. And that's
(05:14):
happened several times already this year. Where I'm doing the
kids of parents that you know I've did loans for,
you know, over the last eighteen years, Guardian Savings Bank,
And once they get in the family know how it works,
you know, they there's just not much of a better
deal in town that I know of, and we'd like
to beat local, stay local, and buy local. And that's
what you're doing with Guardian Savings Bank. Yep. But five
(05:36):
eight seven five on a fifteen year fixed eight. The
APR on it is five point nine three seven. And
you say, man, that ain't much of a difference between
the rate and the APR is just a breakdown of
what the cost of your loan is. If when you're
including the the cost to do the loan, so when
you're only paying five hundred bucks, the APR isn't much.
Speaker 1 (05:56):
Different than the rate.
Speaker 2 (05:58):
Now, if you had three or four thousand dollars in
flo in cost, you're you know, the APR could be
six in an eighth or six three eight or whatever.
But you have a fifteen year fixed five point eight
seven five percent closing cost of five hundred dollars. You
got title and recording fees, so that's not much at all,
and it's not long to break even. So if you
have a fifteen year fix you've got in the last
(06:19):
couple of years, it's going to be more than that.
If it's a quarter of a point or a half
a point, call us eight five nine eight nine nine
nine three six and tim, I do think that, you know,
this bond market's been fairly consistent this week, but you
know there's some more job reporting that's you know, going
to come out. We're taking this show a little bit
early because we've got stuff to do this weekend, but
(06:40):
you know, at this point everything's holding steady and in
good shape. And what people need to realize him the
mortgage rates are based on the ten year bond. You know,
we talk about this all the time, but a lot
of people pay more attention to what the Fed does with.
Speaker 1 (06:54):
The prime rate. You know what's prime.
Speaker 2 (06:56):
Seven and a half, yes, sir, So you know what
they're talking about is the FED fund, right. I think
that there was some news about that this week they
feel like now the Feds may lower the Fed Fund
rate zero point two five percent, you know, and that
should help in the bond market, which then could help
you know, these rates get a little bit better. And
(07:16):
keep in mind, if you're in the process of trying
to buy, give us a call, let us get your
pre qualified with the rates we have. If things change,
and then we'll you know, stay on top of it.
But the lower of these rates go, the more competition
you're going to have in purchasing.
Speaker 1 (07:31):
And that's a fact right now.
Speaker 2 (07:33):
If you qualify and you were quoted seven percent on
a thirty year fixed and you know, you marry the home,
date the loan, and when the rates come down, we'll
refinance it. And that's the main thing is get it
in getting the home you want and then paying attention
to the market, stand in contact with us, and we'll
keep you up to date and try to help make
sure that you have the best rate available as that
(07:54):
come along and their issue does to be able to offer.
And that's part of what you get at Guardian Savings.
We're going to service your loans, stay on top of
what's going on, and help you as we can. We
are a community bank. And that's the other thing that
we are proud of that comes with your loan servicing
is a bank that really cares about some of the
(08:15):
needs in our community. And I happen to catch on
the news this week our friend Jenny Ramsey, and we're
talking about homelessness in Fayette County here Lexington up thirty percent.
She hasn't seen it this bad in her many years
of providing a wonderful community service to the homeless population.
(08:39):
So I know there's a lot of need out there.
We've got tornado victims down in southern Kentucky and Pulaski
County and Lawl County, but we can't turn our back
on our homeless population as well. There And if you
have a heart for giving, and maybe somebody just needs
a break, And I know the Rescue Mission as we
talk about them every week, they do great things for
(09:01):
our homeless population by providing resources and help maybe to
get someone back on their feet. Maybe that's all it takes, well.
Speaker 1 (09:08):
And we will do what we can to help with that.
Speaker 2 (09:11):
But we want to help people right now get pre
qualified and if you're capable of buying a home, make
sure that happens right, like I say, marry the home,
date the loan.
Speaker 1 (09:18):
But we're involved in several different things.
Speaker 2 (09:20):
We did lunch and learn this week with some people
that we're holding a class on education and recognizing issues
that people may have in the area with Alzheimer's and
to mention those types of things. And there's a lot
of different groups out here that are you know, there's
a lot of people that are dealing with things that
you don't know about and you're trying to talk with
them and handle business. And that was pretty educational. We'll
(09:42):
try to get them to come on the show and
talk a little bit about some of the resources and
things that are out here to help. But you know,
it's more than just mortgages to us here. I mean
we're part of the community, you know, tim building our
wheelchair ramps, trying to feed the homeless, trying to provide
housing for the homeless, and the real the Housing Foundation
has a lot to do with that. They're very generous
(10:02):
and they're very supportive in all of these things. So,
you know, Ant Guardian, you know, like I say, be
local by local and stay local. We're here. I mean,
this is a bank that is right here in this town.
It's you know, we're using local appraisers, local closers. You know,
we service your loans. You know, you're not going to
be paying somebody in Washington or something. You know we're
(10:23):
gonna you can call it, drop in, drop make your
payment right here in the tailor window, or come in
the branch, have some coffee, have a cookie, and make
a payment. People are getting back out again, and you know,
I think people are settling in.
Speaker 1 (10:34):
On the rates that we have.
Speaker 2 (10:36):
You know, I mean this five eight seventy five is
a rate special, and I don't know anybody else that's offering,
but you know we're six eight seven five on a
thirty or fixed and six sixty five on a twenty
and uh and in our fifteen is five eight seven
five And the closing costs on this particular rate specials
five hundred bucks plus titling recording fees. It's not going
(10:56):
to be too much of a burden on you to
break even if we can save your quarterable point half
a point or even more than that, and we put
loans together and help people with that. This year, tim
even though we've taken their you know, some of their
debt maybe from four percent to higher rate. But the
biggest one I did this year was the guy I
put the loan together for him, saving.
Speaker 1 (11:16):
Twenty six hundred bucks a month, you know.
Speaker 2 (11:18):
But he did increase his mortgage interest rate, but he
consolidated enough for the bill e's equity to save twenty
six hundred dollars a month. Man in payments, Tim, can
you imagine that's a twenty six hundred dollars a month
pay raise, you know, pretty much, and consolidated several bills.
Speaker 1 (11:34):
Down into one. So keep that in mind.
Speaker 2 (11:38):
And I can't wait for the arm rates to get
a little bit better and a little bit more in playoff.
That's what I have, and that's what you have. And
you know, that's where you're paying the true cost of money.
And you know, right now at three and a half,
it's in and go up this fall. Things don't change,
but I'll still be below the curve on what other
people are paying. And but I'm you know, I like
(11:59):
that type of loan program, and we sold a lot
of them. Right now, the rates are just not any
better than a fix, So take a fixed. But you know,
once again, marry the home date the loan. You can
refinance at any time. I did have a realtor reach
out to me yesterday Britney Markham, and she was asking me,
do you have to be in the house six months
before you can refinance? You can refinance at any time.
You know, the first year you're gonna get, you know,
(12:20):
the lesser of the two of the purchase pressure, of
the appraise value in what they're gonna assess it at.
But other than that, you can refinance it anytime. If
you're in a two months, three months or whatever. There
is no time limits. We're gonna take our first break
for today. Banks over to day from nine to one.
Phone numbers eight and five, nine, eight nine, nine one
nine three six South and Drive eight five nine two
(12:40):
six three three three three five. So if you can
hear she can call us. You are listening to Welcome
Home Show by Guardian Davies Bank on news Radio six
thirty w LAP. We'll be right back. You're back listening
to Welcome Home Show by Guardian Davy's Bank. Three phrase
ten Madams coming at you the Saturday morning. We appreciate
you tuning in to us. Hope you're having a good weekend.
We are open to day from nine to one. Phone
(13:02):
numbers eight five, nine, eight nine, nine one nine three six.
That's here in Hamburg and here's at this location. Alex Tangle,
Lorie Hawkins, Tim Adams, myself, Larry Friskmmderis, Rob McBride, Southland
Drive eight five nine two six three three three three five.
Same people over there, Erin O'Brien, Jamie Mortimer, Alex Vllani,
Jim mackenzie. I've had the same crew of people in
(13:22):
here doing loans for many years and if we can
help you, please give us a call. If you get online,
you know put that you want to deal with somebody
in Lexington. I want to point that out. You can
go online and find Guardian Savings Bank. But if we're
finding out that there's a person up there that'll take
the phone and he'll he'll help you.
Speaker 1 (13:37):
If you've done.
Speaker 2 (13:38):
Business with us or not down here, well we'd like
to we'd like to do it. We'd like to earn
the money and feed our kids. Yep. So just call
at this location eight five nine, eight nine, nine one
nine three six or Southlands two six three three three
three five. We'll do it. We can't put that loan together. Well,
I just saying since we are the home of the
UK Walcats. I just wanted to congratulate our baseball team.
(13:59):
I watched it every inning of it on Saturday and
doubleheader on Sunday. They played their hearts out. I'm really
proud of the way they pulled together and played. I
think playing two games in one day is just very difficult.
As you know, there's only so many pictures that can
go around, So we might have got a lot of
little light in the picture department on Sunday.
Speaker 1 (14:21):
But the UK.
Speaker 2 (14:23):
Showed a lot of heart and only went down in
the last inning. They won't be advancing in the n
C two A, but I sure was proud of them,
and we put a hurt and on Clemson. That was
as as anything I watched in a while. Yeah, I
didn't watch too much of it. I've been watching the
Women's College World Series, you know. I coached softball for
a long time. And the picture for Texas Tech we
(14:44):
got the face back in the day. We had to
go hide and play because of COVID, and we had
a place down in southwestern Kentucky that we could go
to where the sheriff with leave us alone and all
the kids got out on the field and Tannaday was
the picture for Louis Sluggers. Catcher was from Florida State
last year. A six seven people that we've played against,
and I don't think I've ever seen and many times
in my watching baseball, we had to use our first
(15:06):
basement to pitch, so I've never seen a first baseman
take the mound in the middle of an inny. You know. Obviously,
like you said, they were a little thin on the
pitch it. But I, like I say, I'm a Women's
College World Series fan and now had a girl last
year Pittro, Oklahoma. Now she's a grad assistant, Charlie Keeney,
and she pitched with us a little bit on my
(15:26):
team and just a great family. And then to see
the girl throw every inning of the College World Series
so far that we played against and just good kids. Man.
We had a good time playing against them. Wasn't any
college coaches out, but we you know, got out and
learned a lot. Had a younger team than them. They
were the good little Sluggers always has a nice team.
So it's fun. It's a good time, and that's what
(15:47):
I'm watching. But I watched some of the well, the
Men's World Series when it gets gone and see how
it shakes down that the kid out of a Georgetown,
the Scobie kid out of Georgetown up there, had a
good year for South Carolina. And love to see local
kids get out and do good. And I know there's
a lot of them out there that we aren't familiar
with or maybe overlooked, but I remember his dad from
(16:10):
playing softball and glad to see him get out and
do good this year. So fun time of the year.
Everything's winding down on the college seeing seniors would be
their last go around, but hopefully the momentum of being
in the NCAA tournament will help the guys. The girls
were in it as well, so they didn't fare very
well and last very long, but they it's good for
(16:30):
them to get in. You know what I don't like
now is is that like now, you know, Tennessee's got
to play Arkansas, so we're knocking SEC teams out. The
way the brackets are set up so that it limits
the number of people that can make it to omahall
that represent the SEC. And that's kind of how they
did the basketball tournament as well, in my opinion. But
be fun. Yet, all these super regionals now I'll be
(16:53):
coming together and it'll be fun to watch some of
the games. It's always a good time. So anyhow, get
out to see it and see what's going on around town.
Music wise, there should be some stuff going on to
Fists and Willies or Austin City or Cocktails Too, or
Signature Club. Get some good music on occasion, hire Proof
(17:14):
Bight of Way. There's always got some good music. And
you know, Lexington's got a nice scene. Just get out,
be careful and you know, uber, if you need to
be safe and have a good time, you got to
open night. Mike usually out at the Hotel Lex. Yeah,
Barrel fifty three on Tuesday nights has been open mic
night out there and it's been, you know, fabulous. I mean,
(17:35):
the talent is just unreal that people come out there
and play about three songs.
Speaker 1 (17:39):
They got good sound. But Barrel fifty three.
Speaker 2 (17:42):
Out there at the Hotel Lex right there right off
the Highway, and I enjoy going out there and listen
to Thursday nights or Blues Night Saturday, they'll have a
lot of music. I'm not sure who's out there this evening.
Last Saturday it was eight days sober. It was Elijah and.
Speaker 1 (17:54):
Keith and Justin.
Speaker 2 (17:56):
They put on a really good show, had a packed house.
So anyhow, we are going to take another break. You're
listening to Welcome Home Show by Guardian Savings Bank. We're
open to day from nine to one. Phone numbers eight five, nine, eight, nine, nine, one,
nine three six southn drives eight five nine two six
three three three three five. So if you can hear us,
you can call us. You're listen to Welcome Home Show
(18:16):
by Guardian Savings Bank on News Radio six thirty eight.
Of you, lad, We'll be right back with your back.
Speaker 1 (18:22):
Listening to Welcome Home Show. A boy Guardian Savings Bank.
Speaker 2 (18:25):
I'm Glarry, Frank's come a partner in here, Tim Pinky Adams.
Any of you people have been around Lexington for a while,
No Pinky. I've always said that having that nickname is
the unfair advertising advantage because a lot of people call
you Pinky regardless of where we're at, if we're Canlan
or Double Dogs or Beads or Rafferty's every hey Pinky.
(18:47):
So but I know several Tim Adams. Got some other
Tim Adams this week from Richmond. My engineering buddy got
to see him in my.
Speaker 1 (18:53):
Bible study banks over day from nine to one.
Speaker 2 (18:56):
Phone numbers eight five, nine, eight nine nine one nine
three six Southland Drives eight five nine two six three
three three three five. So if you can hear so,
you can call us talking about our limited time offer.
It's a rate special fifteen year fixed five point eighty
seven five. Closing costs five hundred dollars plus title and
recording fees, So you're going to get a refinance that's
(19:16):
going to be very nominal in fees and the the
servicing and everything that we do have the everything in
line to save you some money if you'll give us
an opportunity. And if you've got a mortgage over the
last couple of years, a fifteen year, you're probably in
the sixes somewhere. I think tim six and a quarter,
(19:37):
six and a half possibly depending on when they got it.
But five eight seven five can make a decent savings.
Have a couple of months without having a payment and
you know, be out of pocket or just.
Speaker 1 (19:46):
Actually use the equity.
Speaker 2 (19:47):
You just have two fifty out of pocket and application
fee you get credit for that, but five hundred dollars
in closing costs. You can't beat it, man, you know,
there's just no better deal in town that I'm aware of.
You absolutely not. It's just it's a great time to
refinance if you're you know whatever, sevens some I've seen
(20:09):
eight even six point seven five. You're dropping almost a
full percentage point. Yeah, and you're shortening your term possibly,
but you know, just give us a call and let
us take a look at If it makes sense, we'll
do it.
Speaker 1 (20:20):
If not, we'll know when we can.
Speaker 2 (20:21):
Don't cost you anything, maybe about five minutes worth of time,
get an application over the phone, get some numbers put together,
and see what we can may have. And that's what
we're here to do. So we just not familiar with
anybody else right now offering five eight seven five, and
we take advantage of it if you can eight five
nine eight nine nine nine three six. We'll see if
(20:43):
we can put it together. Before I was going to
mention ten a little bit about credit again. We've been
talking about over the last couple of weeks and how
important it is to keep your bills paid on time.
One of the things is I've had a lesson that
I've I had to have this spring, and it was
about authorized us and I have two daughters and I
had them on as an authorized user to get them
(21:05):
some credit history started and worked out good for them.
Now they've got their own credit and their own names
and so on and so forth. But authorized users. My
deal that I came across and had a lesson on
is I had a kid that had great credit scores.
He only had two credit items. He had one that
was an authorized user and one was his credit card.
And Freddie Mack had a problem with just him having
(21:29):
those two things and the authorized user part. So when
you get out and you're able to start your credit
on your own, it's a good thing. And if you're
a parent and you're going to help your kids get
started with their credit, and you're going to put them
on as an authorized user as soon as they can
get some cards on their own as far, I don't
care if it's a Circle K gas card and they
pay it in full every month, or they get a
card they put their cell phone on, pay it in
(21:51):
full every month in their own name. You know, those
things are important, and your credit is the heartbeat to
your ability to borrow, and it's easy to maintain once
you get going, but it's important for you to pay
attention to it.
Speaker 1 (22:06):
As it's going, because.
Speaker 2 (22:08):
You know, one flaw, one thirty day passed and so
on and so forth can be you know, detrimental to
the score, and then it changes a whole lot of
the financing options you have as you go along.
Speaker 1 (22:16):
So pay attention.
Speaker 2 (22:18):
And you know, Laurie and I used to do a
class over at the UK and their finance department and
we would talk about credit credit repair and how the
credit report reads and what type of a balance you
can have on your credit card so that it's not
detrimental to your score. And I know right now, with
the economy being what it is, there's a lot of
people with more credit than what they run up than
(22:40):
what they want to have tim I mean, we keep
hearing that all the time, don't It's one of those
things that you know, you just got to be aware of.
But if you're going to help your kids, put them
on as an authorized user and a lightly use account
that you pay on a regular basis. They don't have
to have access to the card. You can just use
them as an authorized user. I only have to know
that you've done it, and then let them get their
(23:02):
own stuff started as they have an opportunity with their
jobs and so on and so forth, and that can
make a big difference in things that they can do
as they go along.
Speaker 1 (23:10):
And it's I haven't talked about it.
Speaker 2 (23:13):
We talked a little bit about it last week and
week before, but that's important. Something else we found out
on insurance claims. You know, we've had a lot of
wind damage, a lot of crazy weather come through here,
and they've changed some of the process on getting funds
to be able to help you know, with your repairs
from your insurance company. So there's always something changing in
(23:33):
the market and the economy, and sometimes it makes it easier,
sometimes it makes it harder. But it's all done for
protection of either you know, the bank and or you
mainly both of us, because if we have your house's
collateral and there's some damage, we want to make sure
that it's put back to market value. You know what
I'm saying to him. Have you ever had to have
any work done at your house and with an insurance claim? No,
(23:56):
not on this house.
Speaker 1 (23:57):
No.
Speaker 2 (23:57):
I did have a roof claim on my other house.
But I get these things in the mail all the times.
Is my home might be eligible for a claim because
of the weather we've had here, but no, I'll never
food a claim in your new house my all my
home insurance. Yeah, we had win hail damage on food, yeah,
and hopefully you don't. And it's just that some of
(24:20):
the that's another process that's changing for us as far
as helping people do that, and it's going to happen
to everywhere. I don't care where you're doing your loan at,
where your mortgage is at. But these rates are getting
a little bit better in my opinion. The bond market
is holding steady. This week. We'll see what happens with
the rest of these reports.
Speaker 1 (24:33):
But the main thing is if.
Speaker 2 (24:34):
Five eight, seven, five fifteen year fixed eight five hundred
dollars in closing costs, then you'll have some a little
bit of title and recording fees, which I don't think
is very much at all. Recording fees maybe eighty bucks
and the titles not much to ninety two fifty to
twenty five something and that's about it. So you could
get refinanced with it and not including your escros for
(24:55):
eight hundred bucks maybe or less. But the main thing
is to just call, let us see if we can
put something to give us. Say as listen to Tim
and Larry, I want to talk to them about this
five eight seven five Every once in a while. These
are for refinances, no cash out refinances. It's just a
reconstruction of your amateurization scheduling rate on a fifteen year fix.
Every once a while we can do purchase at that.
(25:15):
So if we can run it up the pipeline, once
we get enough information from we may be able to
get a purchase approved at this five eight seven five
on a fifteen year fixed and five hundred dollars in
closing costs. Then that could make a difference for some people.
Fifteen year term makes the payment a little bit more,
get more bang for your buck, paying your house off quicker,
And I know you're a big believer in that, but
some people do it. I want to stay on this
(25:37):
thirty year amortized payment because every month more of your
payment goes to principle. If you didn't know how it works,
every month is a little bit more, a little bit more,
so you're building equally a lot faster as you go
down into your mortgage. So I've been in my home
now fifteen years and hopefully I can be out the
next five. Yeah, based on my investments, we'll see how
(25:59):
it goes well. I mean, have you got a vision,
you got a plan, and you're going to try to
get liquidated the next five years. I don't blame you,
and they're not making any more land. You got it
in a great location. You know your house is appreciating
tremendously where it's at. It's been well kept, and I think,
what's would he say that the average increase in central
Kentucky five to eight percent on value? You got five
to eight percent appreciation. You're paying down each month, so
(26:22):
you're creating liquid it's an instigated savings account. We just
hope you'll give us a call eight five nine eight
nine nine one nine three six and see if this
five eight seven five makes sense for your budget. And
as you mentioned earlier, ten, they might want to check
with their financial advisor to see what you know could
be a good strategy for him. And if you're getting
ready to retire and you're getting ready to make some
changes with your income like that, please give us a
(26:43):
call and let us see what we can do mortgage
wise before you get to that point, because after you retire,
there's no more pace up, there's no more overtime, there's
no more bonuses, and it's tough sometimes to make everything
work with the new structure of your income. And we've
had it happen. But if we can get you before
and get it taking care. You know you're going to
retire in September, let's get going. If you're going to
retire this fall, let's get going. Get a plan together,
(27:05):
get your financial advisor, get your flow going, and know
exactly what you're going to have to work with each month.
And it's a big difference to a lot of people.
Ten We've seen it over and over. I'm actually meeting
with a specialist for elder long to make sure all
my ducks in a row for my mother and how
I can best position myself to make sure we have
adequate resources to make sure she's happy. You know, it's
(27:28):
very important to just have simple, simple will, at least
to you know, trying to protect your assets son, to
make sure they go to the where they're supposed to go.
And of course I would tell you to go a
little further and maybe explore a trust to hopefully eliminate probate.
Some of those services get a little pricey, Larry, when
(27:49):
you talk about setting up wheels and trusts. But you
can set up a wheel on a just ain't to
have a eleven sheet of papers. As long as you
sign it and notarize it, I think you would hold up.
But if your estate would probably have to go through
probate unless you have other legal instruments to help, you know,
(28:12):
alleviate that from the from your state going through probate, right,
And I think I'm trying to I understand, and I
think that the trust. I believe in the trust, and
I think there's some people out here that you could
proa pay a flat fee and get yourself set up.
I know, you know. And people think you've got to
have a whole lot of money and a whole lot
of stuff to have to consider a trust. But a
(28:32):
trust just keeps everything in the control of the executors.
And you don't have probate, you don't have an attorney.
You're paying to read everything and oversee every distribution that
the executors trying to do. You know, it can you
can burn a lot of money that you've set back
to try to help the next generation of people in
your family by not having a trust. I mean, a
(28:54):
whill is gonna it's gonna eat up a lot of
your funds. If you don't, you know, don't prepare and uh,
and that's why you're looking into and I know that's
why ever we've seen it happen. So just be aware
of what's available out there and we'll try to guide
you the right way. If you want to give us
a call. We've got some good financial advisors, some people
that help with those types of things. So the main
(29:15):
thing is back to the subject at hand. If you
think that your future and the next several months is
going to be to retire and you're going to go
from having a full time job to a fixed income,
give us a call. Let's take a look at what's
going on. Let's look at what your cash flow is
projected to be. Talk to your financial advisor and if
this five eight seven five suit you, let's do it.
(29:35):
You know, if we need to do something different, let's
have a plan and a vision so that when the
rates get to the right point, we can do it.
But I'm just promising, I promise you that it's easier
to do it while you still have your job. Payment
may not go up too much, but your performance will
go up greatly. Right with a shorter term and lower rate,
(29:56):
and that's what the fifteen year would offer to you
five hundred dollars in closing costs. So if you if
you're in a financial advisor and you're not familiar with
this too awful hunch, just give us a call, and
you know, we can run the numbers and you can
see exactly how much bang for your dollar you're getting
on this tope of a loan program and how you
can help the people that you're advising. It's just something
(30:19):
that's easier to do before you quit your job and
start your retirement income. I mean, it just makes a
big difference easier to do before you do it. Just
plan and then get the thing done, and then if
you retire and then after that you already said yourself
set up. But some people come to us after the fact.
You know, hey, I need to do something. This is
you know, my payments a little bit more than what
(30:39):
I hart and I need to increase my cash flow
a little bit. So house and if you heard it,
freight's go below six.
Speaker 1 (30:46):
I'm in yeah, exactly, ding ding ding ding ding ding.
Speaker 2 (30:49):
Here's a chant exactly. We're got to take another break.
We hope you're enjoying the show. I'm Larry Freight for
Tim Adams. We're going to be right back, and we
got one session left. Banks over to that nine to
one when them is eighty five nine.
Speaker 1 (30:59):
Eight one, nine three six. You're listening Welcome Home.
Speaker 2 (31:03):
Show by Guardian Savings Bank on news Radio six thirty.
That's right here on w LAP.
Speaker 1 (31:09):
Hey, we'll be right back.
Speaker 2 (31:11):
You're back listening to Welcome Home Show by Guardian Savings Bank.
Speaker 1 (31:14):
Very freaks. Tim Adams in here coming at you. I
hope you've enjoyed the show. Appreciate you tuning in and
listening to us. Gotta throw a shout out to my
man Denver down in Richmond.
Speaker 2 (31:22):
I know he's listening in and he'll give me a call,
give me a run down on the information we put
out Tim and let us know how good we did.
So hopefully that'll come in on a good report. He'll
give us an a this week. You're generally happy with
what we have to say. Him and old Rick Jones
down there, Jason Strafman, you know the guy did your
deck over there. He's he likes to listen in see
what we've got to say. But broke to day from
(31:43):
nine to one phone number eight five, nine, eight, nine, nine,
one nine three six South and drives eight five nine
two six three three three three five. So if you
can hear us, you can call us. And we've been
talking about it all day. Five point eight seven five
fifteen years, six five hundred dollars and closing costs. Give
us a call, let us see if we can put
it together for you. Get you on a shorter term,
(32:05):
maybe save you some money. If you're already on a
fifteen year, fix at higher than that, don't take too
long to break even. Talk a little bit about credit
authorized users. Make sure you're paying your bills on time.
Talk a little bit about today if you're getting ready
to retire, reviewing your financial situation, knowing what your incoming
out goes going to be, and let us try to
(32:27):
help you get something, if needed, put in place before
you get to that final retirement date, because it's harder
to do after you've retired and everything starts changing and
tim you just you mentioned earlier, you're getting ready to
start getting some of your Social Security or something right.
You've been through the ringer trying to get that anage. No,
(32:49):
it hasn't been too bad to get to go ahead,
and I'm going to start taking my benefits at my
full retirement age, which is sixty six years and eight
months old. But no, it was all online and been
fairly seamless, and as I understand, if they kind of
they delay the first payment out anyway, but it'll eventually come.
(33:09):
I don't know. It's debated every day on whether when
you should go ahead and text so security. But in
my situation, I don't have to retire and I can
and there are no earning caps now that I've waited
until my full retirement agent. That's always based on your
age and when the day of your birth it's different.
For if you were born in fifty seven, it's going
(33:30):
to be different. Unbelievably. You know everything I was reading
about you know what's happening with some of our agencies.
I was concerned that it would there would be delayed,
but so far so good. Knock on, would there you go?
And it's going to be a change, But you're still
going to be here doing loans absolutely, yeah. I got
(33:52):
kids in college still, so I don't want to retire.
I want to keep doing what I'm doing, and you know,
this can does give me a little bit more flexibility
that at least I haven't something coming in every month
that I certainly can't count on to pay all my bills.
But uh, and that's where you know, what we've done
(34:16):
in our retirement accounts, and that's what you work all
your life for is to build enough up. We're between
your social Security and what you have in your four
oh one K, and you'll you can start taking distributions
if you have to, but I want to hold it
off and taking distributions there because I hope that we
do have a swing here in interest rates. And when
that happens, I think we're going to be busier and
(34:38):
a b yard worker. So you know, that's that's that's
the good news that we keep hearing positive information about
that rates may correct later this year. But you've been
asking for something below six and we're offering that right now.
So a fifteen year fix it could be an ideal
situation for you. So we've talked about that today, and
(34:59):
that's you know, it's time to make those decisions. If
you're paying a higher interest rate, it's time to start
considering changing the direction of your mortgage. Yeah, five eight
seven five on a fifteen years six five hundred dollars
in closing costs. I mean, shop around town see who
else has got it, you know. And the thing about
it is, if we do get it, you're going to
be paying Guardian. We're going to be right here. If
(35:20):
something comes up, something happens, you need help, what have you.
Speaker 1 (35:23):
You know, you're going to be calling Guardian. That's what
you know.
Speaker 2 (35:26):
Our claim to thme is and that's why we say
when you're in the family, you're in the family. We
want to keep you, we want to help you, and
we want you to call call these local numbers eight five, nine,
eight nine nine one nine three six. I've been listening
to ten and Larry. I want to talk to them.
If you get online, you're going to get the same deal,
but you're going to deal with somebody from northern Kentucky.
And we you know, we want to feed our kids.
So just give us a call at this local level.
(35:49):
If you get a hold of somebody up there, they
call you back from something you've done online, just tell
them I want to work with somebody in Lexington. They'll
get you down here. And if you've worked with me
in the past, love to do it again. If you
weren't happy with me, let me find you another one
officer here. The programs are still the same, but I
know there's been times when the appraiser didn't show up
or something happened, and you know, somebody gets gets upset.
Speaker 1 (36:10):
Doesn't happen very often.
Speaker 2 (36:11):
But we'll take care of each other, you know, and
especially if you're listening to the show, give us a call.
We will personally handle your call. Yeah, just calls. I
want to talk to timor Lay and wherever repped. If
we're here, we're going to get the call now. They'll
send it straight to our cell phone and I have
no problem with that. I'll get calls twenty four to seven.
And if you listen off enough, you know it's already. Yeah,
you know, well you know what's going on, so we uh,
(36:32):
you know, well, if it doesn't make sense, they won't
let us do it anyway. But you have nothing to
lose by looking into it to see what we have
to offer. And right now it's five eight seven five
on a fifteen year, fifth thirty or fixes six eight
seven pie, you know. And we've been working with some
sellers that are willing to pay some clothing costs and
we're buying some rates down and that's saving some people
(36:53):
some money and it's making the payment a little cheaper.
So keep that in mind as well in your negotiating tactics,
and if you want some help and advice on that,
we'd be glad to do that as well. But we
appreciate you tuning in to us. You'll listen to some
music today. Of these guys, it's gonna be at the
horse park out of here, at the Bluegrass Spirit of
the Bluegrass, I'm trying to say, So listen to those
guys and see what's going on. Banks over today from
(37:14):
nine to one for numbers eighty five nine eight nine
nine one nine three six Southend Drives eighty five nine
two six three three three three five. You can hear
what you can call us. We appreciate you listening to us.
Hope you have a great weekend. You've been listening to
Welcome Home Show by Guardian Savings Bank on News Radio
six thirty. Let's show you lap be back next weekend.
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