Episode Transcript
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Speaker 1 (00:04):
Good morning, Lexington.
Speaker 2 (00:05):
Your list of Welcome home show by Guardian Savings Bank
up here with Tim Adams is Saturday morning.
Speaker 1 (00:11):
Got a short show for You're gonna be.
Speaker 2 (00:12):
On here about a half hour and Matt Jones and
his crew is going to be on here and take
you on up to the UK Murray State game here
this afternoon.
Speaker 1 (00:19):
So s tay you tuned for a little bit.
Speaker 2 (00:23):
We'll get you updated a little bit on what's going
on if we can here. Uh, kind of crazy week,
you know, had the election last week and everything the
stock market and bond market's a little crazy, but we'll
talk about that and kind of how we're going about
our business in here. But bank is open today from
nine to one. One numbers eight five nine, eight nine,
nine one nine three six. That's here in Hamburg Southland
(00:45):
drives eight five nine two six three three three three five.
Speaker 1 (00:48):
So if you can hear she can call us.
Speaker 2 (00:50):
Be glad to help you out and help you with
any of your real estate needs. Can't do any car loans,
boat loans, note loans or any of those types of things,
but we will help you get any real estate thing,
taking care of it you need. And recently we had
some calls in and I was able to take advantage
of THEKHC money. We've got five and a half percent
(01:10):
on a thirty year fix it's it actually went up
a little bit this week just because they needed to
make some changes on the bond and stuff that are
offered in that program. But it's five point seventy five
little is three and a half percent down on a
first time home by our program. There is some one
hundred percent financing loans out here as well, so thirty
or fixed rates still six seven five eight six eight
seveny five somewhere in that neighborhood. But this this first
(01:32):
time Home by our program had some people call and
got some action on it. So if you're looking for
something and your first time home buy, let's take a
look at that program and see what we can do.
Speaker 1 (01:43):
There's not any location.
Speaker 2 (01:45):
Limitations or restrictions, and there's no income imitation and restrictions
per se. There are some, but I've not had any
that have that have hit me yet, so there's a
little bit in there, but it seems to be pretty
a genuine program. That's I did a lot of them
back years ago and then just started doing conventional because
we were so busy doing that, Tim, and it's just
(02:07):
easier for me to to coordinate those types of loans
with this loan here. I think it was going to
be a call to action for me in twenty twenty
five at first time homeb Are and getting that kind
of stuff going on and making things happen for some people.
But you know, you're you're going to be at least
one percent less or more than what people can do
unconventional financing. If you're interested in taking a look at it,
(02:29):
give us a call eight five nine eight nine nine
nine three six. That's here in Hamburg, or you know,
you can give Aaron Brown a call over there at Southland.
Speaker 1 (02:36):
That's where she's at. She was on the show with
us a couple of weeks ago.
Speaker 2 (02:39):
I think next week maybe, Tim, if you don't care,
I'm gonna get some of my Nascar by Fantasy NASCAR
people in here.
Speaker 1 (02:44):
That's that's come to an end.
Speaker 2 (02:47):
And the summary of that is as Hummer won that
with the Legano went in the championship. But that you know,
those those vaveling guys and that baveling uh NASCAR Fantasy
league that I'm involved in is fun and I like
get they're all local people and some of our clients
and friends and maybe get Woody and then come on
here and talk about it a little bit. But right now,
(03:09):
I mean, I've I've turned in several applications. I've got
some stuff rolling along on that first time home buyer
stuff and that's what I'm you know, trying to keep
moving forward with. And uh, you know, if you're interested
in it, give us a call and we'll go from there.
We've got all kinds of various things. Now, we got
our processor in here April. When April, I was going
to ask you something. When people get into the credit reporting,
(03:30):
you know, and they have a credit report pulled, what
is what is it that you guys primarily look at
on that when you're when you get a loan in
processing and you're going to you know, you share it
with the loan officers and what we do. What do
you see the biggest thing that people do that they
can do different with their credit.
Speaker 3 (03:47):
I would say, making sure you pay your mortgage payment
on time, making sure you've paid your credit cards all time,
and your balance is keeping your balance to a minimum,
your available availability. You know, that's really going to build
your credits if you're maxed out on a credit card,
and it's probably gonna hurt your credits, all.
Speaker 2 (04:05):
Right, So this is what I really I just threw
you on the spot for that question. Let me ask
you another question. This has come up a couple of
times this week. What is the difference between what these
people are seeing on credit Karma and what we pull
on a residential mortgage credit report, because we hear it
all the time. I had somebody go, well, my credit
Karma shows this, and I'm like, well, this is what
the credit report shows. And I was talking to you
(04:26):
and Jackie about it, and Jackie said, ours are generally
always lower than credit Carmer. But I can't say why
you know, can you?
Speaker 1 (04:33):
I mean, what do you.
Speaker 2 (04:33):
Think the difference is between Credit Carmen and rmc ar
I mean you here too.
Speaker 4 (04:39):
Yeah, we we call it.
Speaker 3 (04:41):
I know that any place you go mortgage credit is,
you know, so much different than Credit Karma and free
Credit report dot com that kind of stuff. I'm not
so sure that credit every lender or every bank reports
to each of those each of the time, like, for example,
one day may not report to all three bureaus, and
(05:04):
Credit Karma only picks up certain things, whereas a mortgage report,
like you have residential mortgage up, it's it's looking for
everything and it goes all the way back until you know,
it can go back well years and.
Speaker 1 (05:17):
Years from that kind of thing.
Speaker 3 (05:18):
So it's that's the uh, you know, the number one
thing every lender that's gonna for a mortgage is.
Speaker 1 (05:26):
Gonna pull the residential mortgage everyone. And you know, I
didn't mean to put you.
Speaker 2 (05:30):
I didn't need to put you on the spot, but
I didn't mean to put you on the spot. So
I know you didn't have a chance to think up
an answer every better. But those things are some you
know that we've had happen here recently where people's like, well,
my credit KRMA showed this and then it was different,
and I tried to explain to them that each one
of them is different.
Speaker 1 (05:44):
So that makes sense.
Speaker 2 (05:45):
Not everybody reports to credit Karma, and not everybody is
you know, as in thorough as the residential mortgage credit reports.
Speaker 5 (05:51):
Well there's different algorithms, yeah and yeah, these credit karmas
are based on and there's far different than you know,
we're pulling at her from TransUnion April back to at
experience it's just it's just.
Speaker 4 (06:03):
A little it's just a little more conservative method.
Speaker 1 (06:08):
To arrive at.
Speaker 4 (06:10):
You know, the credit scores you may see on credit
Karma typically don't relate to a mortgage credit score. Unfortunately.
Speaker 2 (06:17):
Yeah, next, because of the algorithms, all of the loans
we've done in here over the last several years, and
you know, we've we've done more volume in in central
Kentucky than most. April is the you know, the straw
that sterves the drinking here, and she's the one that
pulls the credit and takes care of order, the appraisals
and all that type of stuff. And and once we
get the file in, we give a turn, she runs with.
If she gets an issue, she'll come back to. But
(06:40):
you know, I've been fortunate enough to have her on
our team and for a long time.
Speaker 1 (06:45):
She does a good job. So as things change.
Speaker 2 (06:47):
And she see things changing too because of what she does,
she's like, hey, you're probably gonna need to get this
from your client or you're going to need to get that,
you know, and we can head off some of the
underwriting stuff at the past. And you know, we do
in house processing, in house underwriting, we service our loans
and that it's always been our quaim to fame in here.
So we are a bank, by the way. We only
lend on real estate, but we have checking and savings
(07:08):
and CDs and so on and so forth. We promoted
our five to five five there for quite a while
and got a tremendous response from that with a lot
of our clients. And now I think the the ap
WI and some of our CDs is what four and
a half somewhere in the forest, tim, I think it's
gone down a little bit, but still, you know, you're
going to get an interest compounded daily with the minimum
five hundred or deposit on any.
Speaker 1 (07:26):
Of those CDs that we have in here.
Speaker 2 (07:28):
It's a great gift or a great learning tool for
your kids, your grandkids, your nieces, your nephews, whoever. On
how compounded daily works and those types of things. But
you know, keep us in mind for that type of stuff.
And then conventional financing, Yes, adjustable rate mortgages.
Speaker 1 (07:46):
We do our in house money. Yes, we do V A, F, H, A,
K HC.
Speaker 2 (07:51):
USDA, all kinds of you know, different loans in here.
Some of them we don't service, and the government loans
we don't because of the way that they're set up
and structured. But we do have over billion and a
half in servicing, Tim.
Speaker 4 (08:07):
Yeah, the Felt loans and mortgages.
Speaker 1 (08:09):
How about them? You cats this week? Oh against dude?
Oh yeah, dupe.
Speaker 4 (08:14):
Down earlier in the week. Yeah, that was very satisfying
for me, Larry, It was that was fun.
Speaker 2 (08:18):
And you know, I was just at the second half
of the game and UK down by four points, five points,
and you know, the announcers like, this is a critical
bucket for UK, and I'm like, there's seventeen and a
half minutes left in the game. Why is this so critical?
I just couldn't put my finger on. Of course they're
thinking that. You know, with these three freshman All American
we've been there. We have turned this whole thing around, Tim.
(08:40):
This is this is it in a nutshell for you
fans want to listen to the show. And I don't
know what they're gonna say about football here in a minute,
but I know they're going to talk some basketball, but
Matt Jones and then they're probably going to say the
same thing.
Speaker 1 (08:49):
We've gone full circle.
Speaker 2 (08:50):
We went from having one and Dons that were seventeen
and eighteen years old one and duns that are twenty
one and twenty two years old, and those are the
teams kept knocking Cow off in that first round the
last couple of years.
Speaker 1 (09:01):
So these guys, I mean that Cooper Flag is a stud.
He is a stut.
Speaker 2 (09:05):
And his other two all Americans on the team, are good,
but they've been playing seventeen eighteen year old kids. They
ain't used to playing twenty one twenty two year old menu.
It ain't gonna quit. I mean, you get in the
barroom fight, you get somebody's fought a lot, you're gonna
have your hands full. But if you go in and
you punching bullets and you know that they ain't been
punched before that, it was it was fun to watch
in My favorite thing and I had this conversation yesterday,
(09:27):
was when he drew up the out of bounds play
with with about five seconds left and threw at the
length of the court. Has nothing to lose in that play.
We'd never seen that from cal through it the length
of the court. If we touch it, it goes out
of bounds. They got to throw it all the way
back down the court, try to score if they catch,
If we catch it, they gone foul us. We're going
to the free throw line, which is what happened. If
nobody touches it, we're in trouble because it starts right
(09:48):
back where they do it out of bands. But they
you know what I mean, The worst case scenario is
the Tye ball game. I just love that, you know,
you got to see some stuff that you would be
like just regular good old basketball. And I liked watching
the po demeanor on the sideline as he's talking to
the guys and and just their enthusiasm and grit. But
you know, I'll be honest with you, I got a
fan duel camp and I looked at the over. I
(10:09):
thought one hundred and fifty nine a half man with
these teams been scoringsh I do the over. But I
just took UK plus the five and a half and
obviously won the bet put in twenty got you know,
one twenty, So that was my deal. But yeah, it
was a great game, Tim. I know that the fan
base is excited. I'm glad that then you know, the
Pope put the devil and where it needed to be
that night, and you know, I'm and I'm sure Cooper
(10:30):
Flags want them.
Speaker 1 (10:31):
Dudes.
Speaker 2 (10:31):
It's you know that, Yeah, that's a loss, but he'll
take that loss. But he's also learning. He's learning. Okay,
now what's it gonna take. We run up somebody like
that again, you know. And uh so it was fun
to watch, and yeah, I truly appreciated the effort and
all of the you know, athleticism that was brought in.
And I just you know, hey, you get you know,
(10:53):
eight guys, nine guys, how me they got that came
in from the transfer portal that's played for top notch
programs all over the country. They've been well too, and
they've been you know, got some record to go by.
You know how many points they scored, you know how
many menus they played, you know what their free throw
percentage is. You know, you're not just picking people out
of the dust and trying to figure out exactly what
they can bring to the table. They've got a little
(11:14):
bit of a history that you can hang your hat on.
Speaker 1 (11:16):
And I hate that.
Speaker 2 (11:17):
You know, these people are upset that some of the
Kentucky grown guys aren't getting to play as much. But
coaches out here to win and do a job. And
if they were capable of playing, and they're going to
be competitive and health the team they're going to. But
just because they're from Kentucky doesn't mean they should play.
It doesn't mean they got to play. They will earn
it and they will get to play when the time
is right. And I'm glad that the Posts laid that
(11:39):
out and kind of said that in the conference. You know,
there's now I guess these RPI range are these power
rankings and stuff do depend on how much you win
by and how much of a spread there is in
those games.
Speaker 1 (11:49):
So you're not going to be able to just put
them in.
Speaker 2 (11:51):
You know, we went by a long time with barely
winning games on teams we should blow out sometimes and
getting beat by teams we shouldn't get beat by because
of the way that you cow did stuff. But that's
just his philosophy. That's what's fun about it. You'd coach
a different than I would. I'd coach a different than
you would. And Pop's got his thing going and I
hope that they'd run off well fifteen wins without losing
anything and they win them all. That's fine. Tough to do,
(12:14):
but hopefully they don't have any injuries, no issues, and
go from there. So we're gonna take our first break.
We just got one more small session. UK is going
to be on here this afternoon. Matt Jones and his
crews coming on right after our show. We know he's
gonna have some good information for you and some football
and basketball information. What hell whatever else, But we're over
to day from nine to one.
Speaker 1 (12:32):
Well numbers eight.
Speaker 2 (12:33):
Five, nine, eight nine, nine one nine three six that's
here in Hamburg, Southland drives eight five nine two six
three three three three five. So if you can hear
as you can call us. You are listening to Welcome
Home Show about Guardian Savings Bank on news Radio six
thirty w lad we'll be right back. You're back listening
to the Welcome Home Show about Guardian Savings Bank. I'm
Larry breaks Tim Adams in here with me this Saturday morning.
(12:53):
We appreciate you tuning in to us. He's got a
short show today. Cats are coming on here before too.
Speaker 1 (12:58):
Off along.
Speaker 2 (12:59):
Matt Jones going to be on here in about I
don't know, five or six minutes, so you can catch
him and see what he's got saved about the sports
world and what's going on. I'm sure he'll talk a
little basketball like we just were and a little bit
of football stuff for the game and then think Dave
Baker and then come on after him and get you
on into the football game. So Murray's State Racers are
coming in and Kattel had to hopefully win one today
(13:22):
and get something else going. But uh, you know, we've
just talked about the basketball team. I'm happy that the
success they had down in Atlanta against Duke and rates.
As far as the mortgage business, we're about six eight
seven five six seven five on thirty of your Fix.
We do have first time home buyer money that's in
the in the mid fives if you're a first time
home buyer and there's there's not any location restrictions, there's
(13:43):
some income restrictions. I'm not coming across anybody yet on
the three or four loans. I've smitted the last couple
of weeks for that program. But you know, give us
a call. We could put something together for you. And
do you know you can look us up online if
you want to, but call the local number if you
happen to call the eight hundred number to get somebody
up north deal with here locally. I mean, I've got
people sending me tax bills. They call and ask me
(14:04):
questions about different things. And had a buddy mine hit
me up this week on Veteran's Day, and I was
so glad to hear from him. We've been friends for
about fifteen years. I wouldn't know the guy if I
wasn't an employee of Guardian and told me what great
day he had for Veterans Day. You know, and get
people call and asked about this and that. Tim, you
the same way. You know, it's more than just a
mortgage business. We take a lot of pride in the
personal relationships we build here at the bank, and we
(14:25):
love it and it's important to us.
Speaker 1 (14:27):
But give us a.
Speaker 2 (14:27):
Call this local number eight five nine eight nine nine
three six. For some reason, I'm out and about doing whatever. Hey,
just say hey, transfer me to Larry's cell phone or
text me. I'll call you and we'll do what we
got to do to make stuff happen. So I got
to throw a shout out to Tim. I know we
got a short show today, but close my garage door
down on something the other day that was in the
way and threw it off the hinges, and I had
(14:50):
a buddy come out referred to me and came out
fixed a guy by the name of Jake Calvert. He's
with thirty one w insulation. And you know people think
thirty one w insulation that's all your getting. What they
do garage doors, doors and all cabinets and all kinds
of stuff. But Jacob over out of Nicholasville, Garrett County resident.
But I just had to throw a shout out and
he just came over and fixed it for me. I
couldn't close it. It was at springs and the wheel
(15:12):
was loose. I shut it down on a wheel or
tire or something right by the edge of the garage.
And to one to throw him a shout out. In Denver,
Humphrey and my boys down there, Rick Jones, so they
can you know, I appreciate them looking after us. But
you got your construction loan closed. I've got had a
couple of long closed in this week on purchases and
I'm happy for that. It's you know, business is picking up.
(15:32):
It is picking up. Don't miss the boat. The more
the lower rates go, the harder it's going to be
for you to bid on a home. And if you're
not finding what you want, you're interested in building. We've
got a few people that can help you with that too.
Speaker 1 (15:42):
Give us a.
Speaker 2 (15:43):
Call our bridge loan doing a lot of bridge loans
where people don't have to worry about selling the home
to buy something else. That's a little tricky in today's
economy and with the way the market is as well,
So we can do that. What else, Penn, Tim, We
got just a few seconds, two, a few minutes left here.
You know, we always come on here and we try
to give our opinion on where are the market's going.
(16:03):
Of course, we've seen the stock market just explode after
the election, so I don't know. You know, we've talked
about the top three concerns amongst Americans and it's the
cost of gas, groceries, and mortgages. So I would be
tending to believe that Trump will do everything in his
power to help mortgage rates, because we know there's some
(16:25):
builders with houses they.
Speaker 4 (16:26):
Can't sell because of mortgage rates across the countries.
Speaker 2 (16:29):
And the Feds did lower rates again, but that is
not a direct revelation with mortgage rates. The ten year
bond is what dictates these thirty year bond, these thirty
year mortgage rates.
Speaker 1 (16:38):
And people did.
Speaker 2 (16:39):
They said they just and we talk about it all
the time. And it's just the Feds lowered rates today,
but that's not a can direct correlation with the mortgages.
And what's going on is people know Trump's going to
be strong for the economy.
Speaker 1 (16:50):
So people are either going to get the.
Speaker 2 (16:51):
Stock market try to make all the money back they
felt they lost, or they going to get the bond
market and protect what they have. And right now it's
kind of a one two punch on the bond market.
Everybody's excited that there's going to be some changes and
there's gonna be some regulations and things made it different
so that things can go easier in some respects and
it'll trickle down. But I know still's not a bad
(17:12):
time to consider buying. And like I say, marry your home,
but date your loan. You don't have to keep your
loan forever. You can refinance it any time. We don't
have any pre payment penalties. Most mortgages don't have any
prepayment penalties on them.
Speaker 4 (17:24):
Don't wait because of rate.
Speaker 1 (17:26):
Yeah, don't wait because all's going to cost you more.
Speaker 2 (17:28):
Oh, I had that conversation the other day. A house
that you're looking at right now for two fifty, you're
going to wait for rates to go down. By the
time that rate goes down, it how it gonna be
two sixty five or two seventy. You know, we appreciate
the people that understand. Share a name, share a number,
and if you know me and you and Tim, give
them our cell phone number.
Speaker 1 (17:44):
Havn't called us.
Speaker 2 (17:44):
I mean, we're losing business to an eight hundred number
that goes to guard and you're still getting the same
deal up north. But we want to keep you here local.
We want to see you when you need to see
this and take care of the things we got to do.
So you know, just keep that in mind. Be local
by local and stay local, and that's what you get
when you're with the Guardian Savings Bank.
Speaker 1 (18:00):
We'll keep you in tune on what's going on with
these rates. But give us a call.
Speaker 2 (18:04):
Let's get a plan in order, get a vision in
place and move forward with you. So Matt Jones and
his crew will be on here in just a minute,
so stay tuned for them. I hope Cats win this afternoon.
Congrats to the Cats for a big win against Duke
earlier this week, and we'll be back next Saturday. Banks
open all day from nine to one for number is
eight five nine eight nine three six. You've been listening
(18:24):
to Welcome Home Show by Guardian Savings Bank on News
Radio over the Wildcats w Lap go Get them on
the Field Boys be back next Saturday.
Good morning, Lexington.
Speaker 2 (00:05):
Your list of Welcome home show by Guardian Savings Bank
up here with Tim Adams is Saturday morning.
Speaker 1 (00:11):
Got a short show for You're gonna be.
Speaker 2 (00:12):
On here about a half hour and Matt Jones and
his crew is going to be on here and take
you on up to the UK Murray State game here
this afternoon.
Speaker 1 (00:19):
So s tay you tuned for a little bit.
Speaker 2 (00:23):
We'll get you updated a little bit on what's going
on if we can here. Uh, kind of crazy week,
you know, had the election last week and everything the
stock market and bond market's a little crazy, but we'll
talk about that and kind of how we're going about
our business in here. But bank is open today from
nine to one. One numbers eight five nine, eight nine,
nine one nine three six. That's here in Hamburg Southland
(00:45):
drives eight five nine two six three three three three five.
Speaker 1 (00:48):
So if you can hear she can call us.
Speaker 2 (00:50):
Be glad to help you out and help you with
any of your real estate needs. Can't do any car loans,
boat loans, note loans or any of those types of things,
but we will help you get any real estate thing,
taking care of it you need. And recently we had
some calls in and I was able to take advantage
of THEKHC money. We've got five and a half percent
(01:10):
on a thirty year fix it's it actually went up
a little bit this week just because they needed to
make some changes on the bond and stuff that are
offered in that program. But it's five point seventy five
little is three and a half percent down on a
first time home by our program. There is some one
hundred percent financing loans out here as well, so thirty
or fixed rates still six seven five eight six eight
seveny five somewhere in that neighborhood. But this this first
(01:32):
time Home by our program had some people call and
got some action on it. So if you're looking for
something and your first time home buy, let's take a
look at that program and see what we can do.
Speaker 1 (01:43):
There's not any location.
Speaker 2 (01:45):
Limitations or restrictions, and there's no income imitation and restrictions
per se. There are some, but I've not had any
that have that have hit me yet, so there's a
little bit in there, but it seems to be pretty
a genuine program. That's I did a lot of them
back years ago and then just started doing conventional because
we were so busy doing that, Tim, and it's just
(02:07):
easier for me to to coordinate those types of loans
with this loan here. I think it was going to
be a call to action for me in twenty twenty
five at first time homeb Are and getting that kind
of stuff going on and making things happen for some people.
But you know, you're you're going to be at least
one percent less or more than what people can do
unconventional financing. If you're interested in taking a look at it,
(02:29):
give us a call eight five nine eight nine nine
nine three six. That's here in Hamburg, or you know,
you can give Aaron Brown a call over there at Southland.
Speaker 1 (02:36):
That's where she's at. She was on the show with
us a couple of weeks ago.
Speaker 2 (02:39):
I think next week maybe, Tim, if you don't care,
I'm gonna get some of my Nascar by Fantasy NASCAR
people in here.
Speaker 1 (02:44):
That's that's come to an end.
Speaker 2 (02:47):
And the summary of that is as Hummer won that
with the Legano went in the championship. But that you know,
those those vaveling guys and that baveling uh NASCAR Fantasy
league that I'm involved in is fun and I like
get they're all local people and some of our clients
and friends and maybe get Woody and then come on
here and talk about it a little bit. But right now,
(03:09):
I mean, I've I've turned in several applications. I've got
some stuff rolling along on that first time home buyer
stuff and that's what I'm you know, trying to keep
moving forward with. And uh, you know, if you're interested
in it, give us a call and we'll go from there.
We've got all kinds of various things. Now, we got
our processor in here April. When April, I was going
to ask you something. When people get into the credit reporting,
(03:30):
you know, and they have a credit report pulled, what
is what is it that you guys primarily look at
on that when you're when you get a loan in
processing and you're going to you know, you share it
with the loan officers and what we do. What do
you see the biggest thing that people do that they
can do different with their credit.
Speaker 3 (03:47):
I would say, making sure you pay your mortgage payment
on time, making sure you've paid your credit cards all time,
and your balance is keeping your balance to a minimum,
your available availability. You know, that's really going to build
your credits if you're maxed out on a credit card,
and it's probably gonna hurt your credits, all.
Speaker 2 (04:05):
Right, So this is what I really I just threw
you on the spot for that question. Let me ask
you another question. This has come up a couple of
times this week. What is the difference between what these
people are seeing on credit Karma and what we pull
on a residential mortgage credit report, because we hear it
all the time. I had somebody go, well, my credit
Karma shows this, and I'm like, well, this is what
the credit report shows. And I was talking to you
(04:26):
and Jackie about it, and Jackie said, ours are generally
always lower than credit Carmer. But I can't say why
you know, can you?
Speaker 1 (04:33):
I mean, what do you.
Speaker 2 (04:33):
Think the difference is between Credit Carmen and rmc ar
I mean you here too.
Speaker 4 (04:39):
Yeah, we we call it.
Speaker 3 (04:41):
I know that any place you go mortgage credit is,
you know, so much different than Credit Karma and free
Credit report dot com that kind of stuff. I'm not
so sure that credit every lender or every bank reports
to each of those each of the time, like, for example,
one day may not report to all three bureaus, and
(05:04):
Credit Karma only picks up certain things, whereas a mortgage report,
like you have residential mortgage up, it's it's looking for
everything and it goes all the way back until you know,
it can go back well years and.
Speaker 1 (05:17):
Years from that kind of thing.
Speaker 3 (05:18):
So it's that's the uh, you know, the number one
thing every lender that's gonna for a mortgage is.
Speaker 1 (05:26):
Gonna pull the residential mortgage everyone. And you know, I
didn't mean to put you.
Speaker 2 (05:30):
I didn't need to put you on the spot, but
I didn't mean to put you on the spot. So
I know you didn't have a chance to think up
an answer every better. But those things are some you
know that we've had happen here recently where people's like, well,
my credit KRMA showed this and then it was different,
and I tried to explain to them that each one
of them is different.
Speaker 1 (05:44):
So that makes sense.
Speaker 2 (05:45):
Not everybody reports to credit Karma, and not everybody is
you know, as in thorough as the residential mortgage credit reports.
Speaker 5 (05:51):
Well there's different algorithms, yeah and yeah, these credit karmas
are based on and there's far different than you know,
we're pulling at her from TransUnion April back to at
experience it's just it's just.
Speaker 4 (06:03):
A little it's just a little more conservative method.
Speaker 1 (06:08):
To arrive at.
Speaker 4 (06:10):
You know, the credit scores you may see on credit
Karma typically don't relate to a mortgage credit score. Unfortunately.
Speaker 2 (06:17):
Yeah, next, because of the algorithms, all of the loans
we've done in here over the last several years, and
you know, we've we've done more volume in in central
Kentucky than most. April is the you know, the straw
that sterves the drinking here, and she's the one that
pulls the credit and takes care of order, the appraisals
and all that type of stuff. And and once we
get the file in, we give a turn, she runs with.
If she gets an issue, she'll come back to. But
(06:40):
you know, I've been fortunate enough to have her on
our team and for a long time.
Speaker 1 (06:45):
She does a good job. So as things change.
Speaker 2 (06:47):
And she see things changing too because of what she does,
she's like, hey, you're probably gonna need to get this
from your client or you're going to need to get that,
you know, and we can head off some of the
underwriting stuff at the past. And you know, we do
in house processing, in house underwriting, we service our loans
and that it's always been our quaim to fame in here.
So we are a bank, by the way. We only
lend on real estate, but we have checking and savings
(07:08):
and CDs and so on and so forth. We promoted
our five to five five there for quite a while
and got a tremendous response from that with a lot
of our clients. And now I think the the ap
WI and some of our CDs is what four and
a half somewhere in the forest, tim, I think it's
gone down a little bit, but still, you know, you're
going to get an interest compounded daily with the minimum
five hundred or deposit on any.
Speaker 1 (07:26):
Of those CDs that we have in here.
Speaker 2 (07:28):
It's a great gift or a great learning tool for
your kids, your grandkids, your nieces, your nephews, whoever. On
how compounded daily works and those types of things. But
you know, keep us in mind for that type of stuff.
And then conventional financing, Yes, adjustable rate mortgages.
Speaker 1 (07:46):
We do our in house money. Yes, we do V A, F, H, A,
K HC.
Speaker 2 (07:51):
USDA, all kinds of you know, different loans in here.
Some of them we don't service, and the government loans
we don't because of the way that they're set up
and structured. But we do have over billion and a
half in servicing, Tim.
Speaker 4 (08:07):
Yeah, the Felt loans and mortgages.
Speaker 1 (08:09):
How about them? You cats this week? Oh against dude?
Oh yeah, dupe.
Speaker 4 (08:14):
Down earlier in the week. Yeah, that was very satisfying
for me, Larry, It was that was fun.
Speaker 2 (08:18):
And you know, I was just at the second half
of the game and UK down by four points, five points,
and you know, the announcers like, this is a critical
bucket for UK, and I'm like, there's seventeen and a
half minutes left in the game. Why is this so critical?
I just couldn't put my finger on. Of course they're
thinking that. You know, with these three freshman All American
we've been there. We have turned this whole thing around, Tim.
(08:40):
This is this is it in a nutshell for you
fans want to listen to the show. And I don't
know what they're gonna say about football here in a minute,
but I know they're going to talk some basketball, but
Matt Jones and then they're probably going to say the
same thing.
Speaker 1 (08:49):
We've gone full circle.
Speaker 2 (08:50):
We went from having one and Dons that were seventeen
and eighteen years old one and duns that are twenty
one and twenty two years old, and those are the
teams kept knocking Cow off in that first round the
last couple of years.
Speaker 1 (09:01):
So these guys, I mean that Cooper Flag is a stud.
He is a stut.
Speaker 2 (09:05):
And his other two all Americans on the team, are good,
but they've been playing seventeen eighteen year old kids. They
ain't used to playing twenty one twenty two year old menu.
It ain't gonna quit. I mean, you get in the
barroom fight, you get somebody's fought a lot, you're gonna
have your hands full. But if you go in and
you punching bullets and you know that they ain't been
punched before that, it was it was fun to watch
in My favorite thing and I had this conversation yesterday,
(09:27):
was when he drew up the out of bounds play
with with about five seconds left and threw at the
length of the court. Has nothing to lose in that play.
We'd never seen that from cal through it the length
of the court. If we touch it, it goes out
of bounds. They got to throw it all the way
back down the court, try to score if they catch,
If we catch it, they gone foul us. We're going
to the free throw line, which is what happened. If
nobody touches it, we're in trouble because it starts right
(09:48):
back where they do it out of bands. But they
you know what I mean, The worst case scenario is
the Tye ball game. I just love that, you know,
you got to see some stuff that you would be
like just regular good old basketball. And I liked watching
the po demeanor on the sideline as he's talking to
the guys and and just their enthusiasm and grit. But
you know, I'll be honest with you, I got a
fan duel camp and I looked at the over. I
(10:09):
thought one hundred and fifty nine a half man with
these teams been scoringsh I do the over. But I
just took UK plus the five and a half and
obviously won the bet put in twenty got you know,
one twenty, So that was my deal. But yeah, it
was a great game, Tim. I know that the fan
base is excited. I'm glad that then you know, the
Pope put the devil and where it needed to be
that night, and you know, I'm and I'm sure Cooper
(10:30):
Flags want them.
Speaker 1 (10:31):
Dudes.
Speaker 2 (10:31):
It's you know that, Yeah, that's a loss, but he'll
take that loss. But he's also learning. He's learning. Okay,
now what's it gonna take. We run up somebody like
that again, you know. And uh so it was fun
to watch, and yeah, I truly appreciated the effort and
all of the you know, athleticism that was brought in.
And I just you know, hey, you get you know,
(10:53):
eight guys, nine guys, how me they got that came
in from the transfer portal that's played for top notch
programs all over the country. They've been well too, and
they've been you know, got some record to go by.
You know how many points they scored, you know how
many menus they played, you know what their free throw
percentage is. You know, you're not just picking people out
of the dust and trying to figure out exactly what
they can bring to the table. They've got a little
(11:14):
bit of a history that you can hang your hat on.
Speaker 1 (11:16):
And I hate that.
Speaker 2 (11:17):
You know, these people are upset that some of the
Kentucky grown guys aren't getting to play as much. But
coaches out here to win and do a job. And
if they were capable of playing, and they're going to
be competitive and health the team they're going to. But
just because they're from Kentucky doesn't mean they should play.
It doesn't mean they got to play. They will earn
it and they will get to play when the time
is right. And I'm glad that the Posts laid that
(11:39):
out and kind of said that in the conference. You know,
there's now I guess these RPI range are these power
rankings and stuff do depend on how much you win
by and how much of a spread there is in
those games.
Speaker 1 (11:49):
So you're not going to be able to just put
them in.
Speaker 2 (11:51):
You know, we went by a long time with barely
winning games on teams we should blow out sometimes and
getting beat by teams we shouldn't get beat by because
of the way that you cow did stuff. But that's
just his philosophy. That's what's fun about it. You'd coach
a different than I would. I'd coach a different than
you would. And Pop's got his thing going and I
hope that they'd run off well fifteen wins without losing
anything and they win them all. That's fine. Tough to do,
(12:14):
but hopefully they don't have any injuries, no issues, and
go from there. So we're gonna take our first break.
We just got one more small session. UK is going
to be on here this afternoon. Matt Jones and his
crews coming on right after our show. We know he's
gonna have some good information for you and some football
and basketball information. What hell whatever else, But we're over
to day from nine to one.
Speaker 1 (12:32):
Well numbers eight.
Speaker 2 (12:33):
Five, nine, eight nine, nine one nine three six that's
here in Hamburg, Southland drives eight five nine two six
three three three three five. So if you can hear
as you can call us. You are listening to Welcome
Home Show about Guardian Savings Bank on news Radio six
thirty w lad we'll be right back. You're back listening
to the Welcome Home Show about Guardian Savings Bank. I'm
Larry breaks Tim Adams in here with me this Saturday morning.
(12:53):
We appreciate you tuning in to us. He's got a
short show today. Cats are coming on here before too.
Speaker 1 (12:58):
Off along.
Speaker 2 (12:59):
Matt Jones going to be on here in about I
don't know, five or six minutes, so you can catch
him and see what he's got saved about the sports
world and what's going on. I'm sure he'll talk a
little basketball like we just were and a little bit
of football stuff for the game and then think Dave
Baker and then come on after him and get you
on into the football game. So Murray's State Racers are
coming in and Kattel had to hopefully win one today
(13:22):
and get something else going. But uh, you know, we've
just talked about the basketball team. I'm happy that the
success they had down in Atlanta against Duke and rates.
As far as the mortgage business, we're about six eight
seven five six seven five on thirty of your Fix.
We do have first time home buyer money that's in
the in the mid fives if you're a first time
home buyer and there's there's not any location restrictions, there's
(13:43):
some income restrictions. I'm not coming across anybody yet on
the three or four loans. I've smitted the last couple
of weeks for that program. But you know, give us
a call. We could put something together for you. And
do you know you can look us up online if
you want to, but call the local number if you
happen to call the eight hundred number to get somebody
up north deal with here locally. I mean, I've got
people sending me tax bills. They call and ask me
(14:04):
questions about different things. And had a buddy mine hit
me up this week on Veteran's Day, and I was
so glad to hear from him. We've been friends for
about fifteen years. I wouldn't know the guy if I
wasn't an employee of Guardian and told me what great
day he had for Veterans Day. You know, and get
people call and asked about this and that. Tim, you
the same way. You know, it's more than just a
mortgage business. We take a lot of pride in the
personal relationships we build here at the bank, and we
(14:25):
love it and it's important to us.
Speaker 1 (14:27):
But give us a.
Speaker 2 (14:27):
Call this local number eight five nine eight nine nine
three six. For some reason, I'm out and about doing whatever. Hey,
just say hey, transfer me to Larry's cell phone or
text me. I'll call you and we'll do what we
got to do to make stuff happen. So I got
to throw a shout out to Tim. I know we
got a short show today, but close my garage door
down on something the other day that was in the
way and threw it off the hinges, and I had
(14:50):
a buddy come out referred to me and came out
fixed a guy by the name of Jake Calvert. He's
with thirty one w insulation. And you know people think
thirty one w insulation that's all your getting. What they
do garage doors, doors and all cabinets and all kinds
of stuff. But Jacob over out of Nicholasville, Garrett County resident.
But I just had to throw a shout out and
he just came over and fixed it for me. I
couldn't close it. It was at springs and the wheel
(15:12):
was loose. I shut it down on a wheel or
tire or something right by the edge of the garage.
And to one to throw him a shout out. In Denver,
Humphrey and my boys down there, Rick Jones, so they
can you know, I appreciate them looking after us. But
you got your construction loan closed. I've got had a
couple of long closed in this week on purchases and
I'm happy for that. It's you know, business is picking up.
(15:32):
It is picking up. Don't miss the boat. The more
the lower rates go, the harder it's going to be
for you to bid on a home. And if you're
not finding what you want, you're interested in building. We've
got a few people that can help you with that too.
Speaker 1 (15:42):
Give us a.
Speaker 2 (15:43):
Call our bridge loan doing a lot of bridge loans
where people don't have to worry about selling the home
to buy something else. That's a little tricky in today's
economy and with the way the market is as well,
So we can do that. What else, Penn, Tim, We
got just a few seconds, two, a few minutes left here.
You know, we always come on here and we try
to give our opinion on where are the market's going.
(16:03):
Of course, we've seen the stock market just explode after
the election, so I don't know. You know, we've talked
about the top three concerns amongst Americans and it's the
cost of gas, groceries, and mortgages. So I would be
tending to believe that Trump will do everything in his
power to help mortgage rates, because we know there's some
(16:25):
builders with houses they.
Speaker 4 (16:26):
Can't sell because of mortgage rates across the countries.
Speaker 2 (16:29):
And the Feds did lower rates again, but that is
not a direct revelation with mortgage rates. The ten year
bond is what dictates these thirty year bond, these thirty
year mortgage rates.
Speaker 1 (16:38):
And people did.
Speaker 2 (16:39):
They said they just and we talk about it all
the time. And it's just the Feds lowered rates today,
but that's not a can direct correlation with the mortgages.
And what's going on is people know Trump's going to
be strong for the economy.
Speaker 1 (16:50):
So people are either going to get the.
Speaker 2 (16:51):
Stock market try to make all the money back they
felt they lost, or they going to get the bond
market and protect what they have. And right now it's
kind of a one two punch on the bond market.
Everybody's excited that there's going to be some changes and
there's gonna be some regulations and things made it different
so that things can go easier in some respects and
it'll trickle down. But I know still's not a bad
(17:12):
time to consider buying. And like I say, marry your home,
but date your loan. You don't have to keep your
loan forever. You can refinance it any time. We don't
have any pre payment penalties. Most mortgages don't have any
prepayment penalties on them.
Speaker 4 (17:24):
Don't wait because of rate.
Speaker 1 (17:26):
Yeah, don't wait because all's going to cost you more.
Speaker 2 (17:28):
Oh, I had that conversation the other day. A house
that you're looking at right now for two fifty, you're
going to wait for rates to go down. By the
time that rate goes down, it how it gonna be
two sixty five or two seventy. You know, we appreciate
the people that understand. Share a name, share a number,
and if you know me and you and Tim, give
them our cell phone number.
Speaker 1 (17:44):
Havn't called us.
Speaker 2 (17:44):
I mean, we're losing business to an eight hundred number
that goes to guard and you're still getting the same
deal up north. But we want to keep you here local.
We want to see you when you need to see
this and take care of the things we got to do.
So you know, just keep that in mind. Be local
by local and stay local, and that's what you get
when you're with the Guardian Savings Bank.
Speaker 1 (18:00):
We'll keep you in tune on what's going on with
these rates. But give us a call.
Speaker 2 (18:04):
Let's get a plan in order, get a vision in
place and move forward with you. So Matt Jones and
his crew will be on here in just a minute,
so stay tuned for them. I hope Cats win this afternoon.
Congrats to the Cats for a big win against Duke
earlier this week, and we'll be back next Saturday. Banks
open all day from nine to one for number is
eight five nine eight nine three six. You've been listening
(18:24):
to Welcome Home Show by Guardian Savings Bank on News
Radio over the Wildcats w Lap go Get them on
the Field Boys be back next Saturday.
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