Episode Transcript
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Speaker 1 (00:07):
Good morning.
Speaker 2 (00:08):
Lets you tell your listen up the home show a
BYuT Guardian save He's bank very freaks, Tim Adams, look
you this Saturday morning, glad to have you tuned into US.
Bank is open to day from nine to one on
numbers eighty five, nine, eight nine, nine, one, nine three six.
That's here in Hamburg, Southam drives eight five nine two
six three three three three five. So if you can
hear she could call us been a up and down
(00:29):
week in the economy, Tim, I mean the information coming
out's good force as far as PPI and CPI. But
then you got all the mainstream media, you know, they
get keep everybody started up, every people.
Speaker 1 (00:41):
I long seventeen thousand dollars on a four O. Why
I said, did you have to use your money today? No?
Well in the what did you lose? Hey? We talked
about it all the time.
Speaker 3 (00:50):
Where are the cycles of life and the cycles of
all things tied to the economy and Wall Street? I
love the smell of Wall straight in the morning, though,
Larry's an exciting time with the tariff, you know, being discussed,
and obviously we saw what a twenty three thousand point
(01:12):
drop one day and a twenty and then a twenty
dreex and so it's that's what it's and a lot
of these smart guys will drive that market down, yeah
with news that didn't buy him.
Speaker 2 (01:25):
When it gets cheaper, let everybody have a fair share.
And but it just it is tough to watch, man,
And it's just it. There is so much information out
here that you can read and teach yourself and learn
how to kind of see what's going on. But people
hear this stuff and just immediately go to a state
of panic.
Speaker 1 (01:44):
Oh, I mean, and I think twenty one was a
twenty twenty one.
Speaker 2 (01:47):
We had like a twenty percent drop in the market,
never heard a word, and then all of a sudden,
now boy, everything's on fire. But you know, the bond
market is what drives these mortgage rates, and it's been
as as low as runing around four on the ten
year bond and then it is up to four thirty seven.
Speaker 1 (02:03):
Four fifty was covering that on Friday.
Speaker 3 (02:08):
So yeah, so yes, people are very confused about that issue.
And you know, we tried to explain it on here
quite often that the Federal Reserve, when you talk about
a cut, they're talking about the Fed Fund rate. So
before you go talking about what you think, you know,
look up the Fed Fund rate and see how the
Federal Reserve operates. You really want to get in a
(02:30):
rabbit hole. Soue who runs it. Yeah, he's surprised. It's
very historical. They're very influential group of men I want
to call. And of course the government appoints a liaison
or spoken. This is Jerome Powell right now. And of
course we have a new Treasury Secretary, mister Bascent, and
(02:51):
I'm impressed with his, uh, you know, his take on everything.
And they're you know, they're working as a team. And
I don't think Americans understand that this is all for
the long term, good for our country. And of course
you see you see them show clips from nineteen ninety six,
we're one side saying that we do need to work
(03:13):
on our trade deficit, and then they come back and
there against now the trade pursuing the Balancing Act with
the trade deficit. So anyway, we don't want to talk
about any of that, but were just on here every
week to kind of let you know what's going on.
And right now we're seeing no improvement in mortgage rates
(03:33):
per se. And I think at Friday, we're at six
point eight seven five on a thirty year fix and
six and a half on a fifteen I did book
something this week, and I got up one morning and
I saw the bomb markets working against us and Larry,
we had to pull of money at one time here
just a few weeks ago, at five point seventy five
(03:55):
on a fifteen year and that's what we're talking about
this cycle. Well, that same line now is six and
a half over this over investor's sentiment about long term
situation with our with the economy.
Speaker 2 (04:09):
Yeah, And the thing about it is, once again, there's
so many resources out here you can look at other
than just listing the mainstreamers. You can get into CBS MarketWatch,
you can go to any type of financial website. You
can last for definitions, look at the terminology and see
what's going on. And really, you know, we're more concerned
with the ten year bond. That's what's dictating our rate.
That's what's telling us exactly what's happening and what the
(04:31):
cost of money is. And that's what you know, rows
the boat in here for us. But you know, there's
still an opportunity for people to borrow. There's still an
opportunity for people to buy, and there's an opportunity for
people to consolidate bills. You know, I put several loans
together for people who had a lower mortgage rate, but
they had you know, twenty five thirty percent on their
credit cards that they needed to consolidate into their mortgage
(04:51):
and we were able to do that. And you know,
that's kind of you know, the people are still going
to need money the world. It's not you know, we're
in no differ from economic condition now than we were
three years ago, when it wasn't that big of a deal.
Speaker 1 (05:04):
But all of a sudden, it's a big deal.
Speaker 2 (05:05):
You know, when we were sitting here and going, oh
my guys, what's going on and we're it's like, you know,
couldn't put our finger on it. And then we start
making some progress and then it goes back. You know,
it's all sicklical. It's been like that. How many times
in our life. You're you're, what's seventy two years old?
Speaker 1 (05:18):
Tim? Oh easy now?
Speaker 2 (05:21):
But I mean it's just one of those things that
you know, we see come and go. So don't you know,
don't believe everything you hear, do a little bit of
homework on your own and put some things together that
you can understand. And you know, if you have a
financial advisor, you know most of those guys are attuned
to what's going on. Some of them are better than others.
There's some darn good ones around here. Mark Cronin and
(05:43):
right and all these guys. There's some good people around
town that you're going to want to listen to and
pay attention to on getting stuff done and making sure
that things are you know, working the right way. But
take your time, do your homework, and don't panic over
what you hear every time. I mean, it's just like
I say, people are like, oh, you know, I lost
all this and lost all that, and I'm like, if
you had to use your money today, didn't Yes, you
did have a loss, but it's going to come back.
Speaker 1 (06:04):
You know, it's going to build back.
Speaker 2 (06:05):
And if you're doing it right, you're buying now at
the lower rate and your your average costs for sharing
some area, this is going to be better. Would you
stay ten? Is that the way you understand how it works?
If you bought some at fifteen dollars and it dropped
around to eleven, and you bought some at eleven for
a while, then it went back to fifteen.
Speaker 1 (06:21):
You know what I mean?
Speaker 2 (06:22):
Now you you know now you got you know, twelve
dollars three cents of share that you averaged out or whatever.
You just well, you know, I recently purchased some NA video.
Speaker 3 (06:30):
Yeah, you know, I'm starting to you know, I want
to get broad my horizons in my four oh one.
So but with just on his hide bed, I did
play a little in the VIDIA. Well you know, I
got hitting them, you know, I got buying sided right
out of the box, and the stock dropped from I
got in at one hundred and seven and then.
Speaker 1 (06:52):
Dropped out of ninety thirty.
Speaker 2 (06:53):
Yeah, so one of my so I should call my
advisor and say, you son of a note, why did you?
Speaker 1 (07:00):
You know you should get him some more money and
buy more if you believe in it, you know That's
what I'm saying.
Speaker 3 (07:04):
Yeah, but what you're hearing this outcry about the markets
is he's caused by four oh one to go down.
Who's he Trump? Oh, that's his all his fault. Yeah,
you know, maybe he is partly to blame.
Speaker 1 (07:17):
Well let me the tariffs are are now.
Speaker 2 (07:19):
It is what it is, it's nerve wrecking for a
lot of people because and I try to buy American
all the time anyway, always have, always will, you know. Unfortunately,
I could get a better foreign vehicle, which is one
of your other than your houses, you know, your next
biggest investment.
Speaker 1 (07:31):
Generally, and you know, and I know, you know, you
know how I.
Speaker 2 (07:34):
Feel about that. But I mean they already owned one,
so I'm not gonna have to worry about it right now.
So you know, it's just one of those things that
you know, it's just they all the news there is
there any is there any good news that ever that
you ever see on TV or there.
Speaker 1 (07:51):
I'm out there, but it's it's more.
Speaker 3 (07:54):
It's all device the p yeah, to take the spotlight
in the media today. You I mean, they do some
of these shows and they go talk to people on
the street and they ask them questions, you know about
who's some people, who.
Speaker 1 (08:09):
Is the first present?
Speaker 3 (08:10):
They don't know who's you know, so and so don't know,
but they've got an opinion about something.
Speaker 2 (08:17):
Some of them don't even know what the arguing over, right,
you know, you go out here to some of these
people that are you know, your protesting today, said do
you know what, uh you know, so do you know,
just do your own homework, do your own homework, find
out what's going on.
Speaker 3 (08:31):
They were at the debate club and high school their
full time career debaters. I guess, I guess there's always
gonna be a descent, Larry. You're never going to get
all the people all the time.
Speaker 1 (08:44):
Yeah, that's a numbers game. I get that.
Speaker 2 (08:45):
But I just hate for people to feel it's depressing, you.
Speaker 1 (08:50):
Know, And I just hate for people to to get
eye into that and be worried and be stressed.
Speaker 2 (08:55):
And the media plays into that. They want they want
the depression, they want the anxiety. They want they want
to get to vision.
Speaker 3 (09:01):
They get tore up over a media commentary, yeah comments.
Speaker 1 (09:04):
And they can bleed and do all the stuff.
Speaker 2 (09:06):
Did you see all the AI stuff that came out
after the Final Four and all the different things they
did to these coaches and stuff.
Speaker 1 (09:11):
It was funny. You know, anything you can play on
the air, but it.
Speaker 2 (09:14):
Was act like they were talking about their players or
their outfit or their new shirt or what have you.
And it was just comical to see all the different
stuff on there. But I mean, you know, they can
bleed all this information in under you know, the voices
and stuff.
Speaker 1 (09:27):
It's crazy, but you know, we've got it.
Speaker 2 (09:29):
We've got to you know, we're very I'm thankful for
the pipeline. We have a lot of people taking advantage
when these rates have been low. Some of them are
still getting things done with their contracts and making things happen,
and and uh, you know, right now it's still a
great time to buy. I mean there's houses out here.
And trust me, when the lower rates go, the more
it is going to be for you to be able to,
(09:51):
you know, have competition alone. If you can buy something now,
buy you, marry the home, date the loan.
Speaker 1 (09:58):
Get it in, get it in your poor they'll get
it in.
Speaker 2 (10:00):
Your possession, and you can refinance it at any time.
And for people that have loans right now that are
seven and a half, seven and three quarters, you refinance
on recent of people's eight in a cord cod you know.
Speaker 1 (10:11):
I mean, if you were to.
Speaker 2 (10:12):
Go to six and a half for six eight, seven
five right now and you're saving what, why would you
not do it? I don't care if you've been in
the home for six months, you know, get taken.
Speaker 3 (10:21):
These particular customers, you know, came from a financial advisor.
Speaker 1 (10:26):
Okay, there's your sign, Larry.
Speaker 3 (10:28):
If a financial advisor says, go ahead and refinance your
loan and get it done right now, start saving, and
then they realize the importance of what we bring to
the table. That's we can refinance them again for very
little yep, if it goes to five and a half.
Speaker 1 (10:43):
And that's what people have to recognize, you know. In here.
Speaker 2 (10:46):
I mean I was talking to somebody and said, but
when you've always heard it doesn't make sense to do
it if you're not saving one percent.
Speaker 1 (10:52):
Yeah, that's true.
Speaker 2 (10:53):
To check your closing costs and your escrows are not
closing costs. You're going to get your escrow money back
from your other lender people. You know, they'll use that
all the time that there's four thousand dollars. You said
it was only going to be nine hundred and.
Speaker 1 (11:05):
Fifty eight, Yeah, or thirty one hundred other dress grows. Well.
Speaker 3 (11:09):
I had a call this week from a customer and
his daughter was buying a home, putting I think five
percent down. They had offered her six percent interest rate
the closing costs for twenty four thousand dollars total settlement
charges including prepaids, and that scrows, Oh, twenty four thousand
dollars to get six percent buying the rate down?
Speaker 1 (11:30):
So many times could she refinand.
Speaker 3 (11:32):
She's going to be bringing in ten percent plus the
whatever the buydown was part of it is the eighteen thousand.
Speaker 1 (11:40):
That she's going to have to borrow now right, Yeah.
Speaker 3 (11:44):
To get six percent, and that that's you know, don't
get me wrong, six percent of when we haven't seen it.
So I understand the shiny ball, oh six percent, but
doesn't understand the bottom line of that buy down fee.
Speaker 2 (12:00):
Yeah, and how long? How many times they could refinance
it and have that money on hand?
Speaker 1 (12:04):
I don't know.
Speaker 3 (12:05):
I haven't seen the actual settlements are the disclosure he
was going to send it to me to just to
look at. From my opinion, I mean, really, twenty four
thousand dollars and closing calls in pre bank.
Speaker 1 (12:17):
Yeah, that's crazy.
Speaker 2 (12:18):
Hey, we're going to take a break in this line
this first session down. We're gonna be right back. Bank
is open to day from nine to one from numbers
eight five, nine, eight, nine, nine, one nine three six
Southland Drives eight five nine two six three three three
three five.
Speaker 1 (12:31):
So if you can hear, you can call us.
Speaker 2 (12:33):
We'll talk a little bit more about what's going on
in the econy, what's going on around the bank, maybe
talking about credit, a few things like that. So you
are listening to Welcome Home Show by Guardian Savings Bank,
Open to day from nine to one on numbers eight five, nine, eight, nine,
nine one, nine three six.
Speaker 1 (12:47):
You listen to us on news radio six thirty w
LA two. We'll be right back. You're back.
Speaker 2 (12:54):
Listened to Welcome Home Show by Guardian Savings Bank. Tim
Adams Larry Frank's in here this Saturday morning with you.
Banks open a day from nine to one, numbers eight five, nine, eight, nine,
nine one nine three six South and Drives eight five
nine two.
Speaker 1 (13:07):
Six three three three three five. So if you can
hear she can call us.
Speaker 2 (13:11):
Be glad to talk to you about some mortgage financing.
Don't do boat loans, note loans or car loans. That
we do mortgage financing. We do a pretty dark good
job at it, don't you think, Tim.
Speaker 3 (13:20):
Absolutely, we're a mortgage bank when our brokers, so our
profitability is taking payments on loans for our investor Freddie
mac Yep, there's another good What we service your loan? Yeah?
Speaker 2 (13:32):
What do you think about Andrew and Hook's the band
that's playing music on the show for us.
Speaker 1 (13:36):
It's very talented artists.
Speaker 2 (13:39):
Yeah, out they got a new album out and they
won some national award of stuff. But Andrew more buddy mine.
He plays down at Brubies all the time. So if
you go down there and hear him on the piano.
And I saw him a couple of years back when
Toby Keith was in for the Derby or Breeders stuff
I can't remember which.
Speaker 1 (13:54):
He got up sang a song with them on.
Speaker 2 (13:56):
Stage and stuff. So he's a good guy man. He's
from down and then in an area baseball.
Speaker 1 (14:01):
Seasons in full swing.
Speaker 3 (14:02):
Yeah, somebody's sent me a picture of river Front Stadium.
It is the river has crested and the fields flooded.
Oh no way, Yes, the water has come up so
far up on the stadium.
Speaker 1 (14:15):
Oh my goodness.
Speaker 2 (14:16):
Well, I don't know how it's gonna be this Saturday,
but I know Texas is coming to town. They're gonna
play UK today and tomorrow at noon. So if it's
warm enough and dry enough and you can get out
and see that, I believe that they're okay, I think,
but just do anything short of lighting they can play
over at uka. You know, this sec this whole thing
and every sport has changed with the addition of these
new teams. And but today at noon here just a
(14:38):
little bit about an hour from when the show's over,
get on over to the UK so weather permitting, and
everything's still going on. I haven't seen any updates on it,
but it should be fun. Fun and see what's going on.
But today or tomorrow at noon. But hey, we're talking
a little bit about credit. I've been looking at a
lot of different credit scenarios for people, and one thing
I like to tell people, oh my, just looking at
(15:00):
the picture of the riverfront, that's crazy. I was talking
to some people and you know, you do have to
pay your bills on time to qualify for a home
tim you know. I mean it's the credit history of
people sometimes and they you know, get their priorities mixed
up on getting a tattoo or a new phone versus
paying their bills, and sometimes it's you know, it can
hurt their credit. The thing with credit I want to
(15:20):
want to point out is, you know, our job is
evolves around the three seas credit capacity and collateral and
credit is the heartbeat of your financial ability to borrow.
And when you have three open lines of credit that
you've paid on time, and you have balances of sixty
percent or less on those things, you're going to have
a maximum score. Most of the time, inquiries can affect
(15:42):
your score, and I want to address that people are
in the first two weeks of mortgage shopping. You can
have mortgage companies for your credit to not affect your score.
A lot of people think, oh, I got my credit
pull so by you know, by my guard you and
I don't know if I can shop any well. First off,
if I get your credit scores, I'm gonna tell you
what they are. And if you cost somebody else shopping,
you can tell them what the score is. They might
be able to get you a quote with using it.
(16:03):
And if I know that somebody's called me and they've
they've had their credit report from a credible source and
then I get a little bit of information, I can
consider that score that's been referred. But what you see
on your phone and what you see from the free
stuff is not always what we see in what we
call residential mortgage credit report, and that's where people get
lost in And I know you've talked to them about
it for a long time, and you know, how do
you try to explain to people the residential mortgage credit
(16:25):
report versus you know, credit report dot com.
Speaker 3 (16:27):
Or Something's a lot of different what we call algorithms
that create credit scores. But I mean we rely on TransUnion, Equifax,
and Experience. That's what we draw our scores from those
three companies. But there's Fiico and there's you know, you
go to other different Experience direct, we'll give you a
(16:48):
credit score. But as long as you limit your credit
inquiries to you know, two weeks is the guideline for
mortgage shopping. For mortgage shop but I don't think as
far as you going to automobile dealership, there's but evelateral
damage from those inquiry, well not much, but there you
(17:09):
get somebody to run about thirteen times if you well,
you go to one car lot and they'll run it
eight times from eight different lenders. Yeah, for because they
shop it. You know, obviously lenders are competing for these
car loans.
Speaker 1 (17:21):
You know, it's just something.
Speaker 3 (17:22):
You've got a monitor you need, You need a monitoring service, really,
and I do. My Discover card offers me a glimpse
of my credit score if I you know, ever any
time I want to. So you got to monitor your
credit of course, because if you see your credit go
down to you know something's caused it.
Speaker 1 (17:39):
So you need to know why.
Speaker 3 (17:40):
You know, we really don't have you know, I've had
had a customer that's done a refine. They had eight
different inquiries for mortgage shopping. But then you know, I
don't know if it made a difference in what their
score would have been if they didn't have them, that
their scores were still adequate enough for compliance with US.
Speaker 1 (17:55):
Yep.
Speaker 2 (17:56):
And we encourage people to shop around for mortages. We're
not going to give them something that doesn't. Yeah, yeah, absolutely,
and that's.
Speaker 3 (18:02):
Why, in fact, I'm talking about these exorbitant closing colls
offered by another lender.
Speaker 2 (18:07):
Hey, we're gonna take another break. Your listen to Welcome
Home Show by Guardian Saves Bank. We are open today
from nine to one. 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 us, you can call us once again.
You're listening to Andrew and Hooch on the radio this morning.
They're playing little music for you. We're gonna be right
back your Listen to Welcome Home Show by Guardian Saves
(18:29):
Bank on New.
Speaker 1 (18:30):
Radio six thirty Home of the Wildcats w LAP. We'll
be right back. You're back.
Speaker 2 (18:35):
Let's to Welcome Home Show by Guardian Savis Bank, Larry Frank,
Tim Adams in here this Saturday morning. We're glad to
have you tuned into us. Yeah, hangs over today from
nine to one. Phone numbers eight five, nine eight nine
nine one nine three six. Southland Drives eighty five nine
two six three three three three five. So if you
can hear, you can call us. We are be glad.
We're glad to be in here. Chat with you a
(18:56):
little bit. It's been crazy, man. Not only is this
stuff going on in your comedy, but just well there
and the flooding and.
Speaker 1 (19:02):
All the craziness.
Speaker 2 (19:02):
We're talking about Riverfront, but I mean, now there's a
lot worse than that going on for people on a
week feel you. We involved in some in a few
different organizations that try to help during these circumstances, and
I'm sure that we're going to be, you know, on
top of it, but we hope that everybody's going to
be okay mentally and can get you know.
Speaker 1 (19:19):
Can get by, but you know we can.
Speaker 2 (19:21):
We'll try to help everybody we can, and there's you know,
all kinds of help that will be available to rebuild
and hopefully save as much of your your personal property
and stuff as there is. But we understand it's it's
crazy out there, and just I don't know that I've
as long as I've been in Kentucky, taim, I don't
know that I've seen it, you know, as dramatic as
it is right now. I know that we've you know,
had some floods and some tornadoes and a few things,
(19:42):
but wow, I mean this area is that you very
seldom here of have really gotten it gotten it bad
this time. So we know, we know you're out there,
we know you need help. We're going to be doing
what we can from our side of it in here
and reach out to the organizations in your area, and
you know, we'll be doing what we can from our
Realder Community Housing Foundation and the other resources that we
work on and our you know, our community reinvestment stuff
(20:03):
and we do a lot of fundraising, a lot of
stuff in years talking about on the radio. This is
what this is for for certain circumstances when people need help,
and you know, things happen that you just can't prepare for,
be ready for, and and you know, we'll we'll, we'll
do what.
Speaker 1 (20:16):
We can to be there.
Speaker 2 (20:16):
But anyway, rates have been up and down this week
and in the last ten days. You know, the tariffs
kicked in, and you know, there's a lot of people
coming to the table try to get to zero tariffs,
and there's some people that are just you know, going
to divide it.
Speaker 1 (20:27):
And that's okay.
Speaker 2 (20:29):
Now, I trust you know that the person running the
country is competent enough to make some decisions. I realize
he's not perfect. I realize he's not gonna do everything
as everybody wants to be done. But I just you know,
heye to gotting. He's going to be here for the
next couple of years. Let's let's see what happens. Let's,
you know, try not to have so much stress and
strife and arguing and fighting over everything that's going on,
(20:51):
and just just sit back and pay attention and see
what's going on.
Speaker 1 (20:55):
We're all in it together. I ain't I ain't paying
any different prices for gas than you are. Tim, I
ain't paying any different in a gallon of milk in
you or it don't make any difference. We can set
here all day long, but we're all living under the
same circumstances and that's the way the country has set
up and found it.
Speaker 2 (21:09):
If we agree with it or not, that's who we
got to deal with and that's what we're going to
be doing. So we feel like, you know, the bond market,
which is what you know, dictates the pricing and everything
that we offer in here, and Tim, you and our
both commission employees, and you know, when things get hired
and things slow down, we're not making as much money.
When things go lower and more people are buying and refinancing,
we make more money.
Speaker 1 (21:29):
But it's just we're riding it with you.
Speaker 2 (21:30):
You know, we are in it with you, and we're
riding it with you, and it's just the way it is.
And we feel like, you know, although these things are
not something we have a crystal ball to understand exactly
how they're going to unfold. I don't think it's as
bad as everybody makes it out to be. There's I
can't ever think of a change, a major change ever
in my lifetime where there wasn't, as you say, tim
a numbers game of you got your people that are
(21:52):
going to descend on it, and now other people are
thankful that we've got to change, you know, and you
just kind of have to ride it out and see,
you know where it's going to unfold. But don't pay
you Yeah, your thoughts of market might be down a
little bit. Your four oh one k would be affected,
But if.
Speaker 1 (22:04):
You didn't have to have the cash today, you ain't
taking a loss out on it. You know.
Speaker 2 (22:07):
That's why I tell people all the time, you ain't
taking a loss unless you sell at a loss, it's
still there. The value is gone down. If you had
to cash out today, I'm sorry about your luck. But
if you're still in it to win it, then buy,
you know, stick it in view bottom to begin with.
Speaker 1 (22:22):
You know, changes are happening. We just have to see
if fittle unfold.
Speaker 2 (22:25):
But tariffs are new to us in US and forcing
them against other countries.
Speaker 1 (22:29):
We paid them, We paid them.
Speaker 3 (22:32):
Yeah, Well, most of the your investments should be i
mean growth, yeah, diversified and based on growth. And as
I'm learning more about the investment game, as far as
my four oh one K, and we're we've been talking
(22:52):
about changes that we're going to maybe implement in our
strategy now and incorporate some more AI or you know, uh,
chip stocks, whatever I've got. I've got a mutual fund
that's blending Apple and Navidia and Broadcom and those are
all very well respected companies and the majority of it
is there.
Speaker 1 (23:12):
And some of those do pay a dividend. Uh, some don't.
Speaker 3 (23:17):
So you know, if you're you've got an account making
a dividend, I mean, you're in it for the growth,
the growth of this account, not for you can't look
at it every day, they'll drive you crazy. Right, So
Americans just need to settle down, simmer sim it down
now because uh, what goes up, goes down, goes up.
Speaker 1 (23:41):
It's a cycle. And don't lose sleep over your four
oh one K this evening. It is my advice to you.
Speaker 3 (23:50):
And if you're listening to us from down in Somerset, Kentucky,
we service that area. So if you're purchasing down in
that area, the Lake Cumberland area area, give us a call.
We do service Somerset and I know that now. The
Somerset Realtors are part of the Bluegrass Realtors or Bluegrass
(24:10):
Reltures Association of Bluegrass Reltuors.
Speaker 1 (24:13):
So I want to throw out there, Larry.
Speaker 2 (24:16):
Yeah, absolutely, And I mean, you know, there's a lot
going on, and there's you know, all kinds of things
in the economy, there's all kinds of things that we're
just living with based on things we can't control.
Speaker 1 (24:29):
We don't think like the weather in some of these things.
Speaker 2 (24:34):
But we just want to try to, you know, make
sure that people know that there is hope, there's people
out here that are going to help, there's.
Speaker 1 (24:40):
People that are willing to help, and you know, we'll
all get through it together. We'll get it.
Speaker 2 (24:45):
And like I say, it, don't make a difference with
side John about what's going on.
Speaker 1 (24:49):
We're all in together.
Speaker 2 (24:49):
We all paying the same for a price of gas,
we're all paying the same for food. You know, some
people are bargain hunters, might have some cubans and that
might save some somebody some money.
Speaker 1 (24:57):
But other than that, we're all in it together.
Speaker 2 (25:00):
We'll get through this. Things are going to happen, some
are good, some are bad. Always that never fails, and
it really just depends on how.
Speaker 1 (25:05):
You look at it.
Speaker 2 (25:07):
That's half fool's a cup half empty, you know, so
it's I'm a half full guy. So we just want
you to know that we're here and we're gonna help.
You're gonna do what we can. And then we participate
in some organizations outside of the bank that help try to.
Speaker 1 (25:23):
Help people get through these times. Tim and we will
be good. Uh.
Speaker 3 (25:27):
We will be attending and board meeting for the Realtor
Community Housing Foundation and you'll hear their their little PSA
announcement on here every week. And we mainly install wheelchair
ramps for the folks in need of accessible accessibility into
their homes. But we're going to talk about sending more
(25:47):
relief funds over at Eastern Kentucky this week, Larry and
our next Monday. And so we're part of a of
a of organizations that are that do make a difference
in this community. And we're very proud to be our
you know, Lexington Community Bank serving the Central Kentucky So
(26:10):
you can be proud of the fact that if you
get a mortgage with us, you know it's a bank
that has a heart. We do have empathy and we
should be helping people in need in our footprint or
we do business and make money.
Speaker 2 (26:25):
Well, you go far beyond our footprint. Have We've been
at Western Kentucky helping people. We've been way over in
eastern Kentucky helping people. And that's you know, that's we
just we can talk about the economy and make fun
of the different things. But I mean, you know, there's
there's a lot more going on to MECII and you
know all the people went through that stuff over North Carolina.
I mean, you know they're making a comeback. Everything will
be okay. We're gonna get there and get things taken
(26:46):
care of.
Speaker 3 (26:46):
But if you hit the wonder if you live in
Dawson spring they got hit by a tornado five years ago,
they got hit by another tornado a year ago, and
now they've been flooded. Yeah, I mean, if you're living
in Dawson Springs, you got to think and what Lord
did we do yep to deserve this type.
Speaker 1 (27:03):
Of feather they're producing.
Speaker 2 (27:04):
Chris Mencer, Yeah, Now, Chris is a good guy.
Speaker 1 (27:08):
He's doing his have done them. And Patrick Robbinson.
Speaker 2 (27:11):
Yeah, Patrick, Yeah, keep an eye on them guys. But
those guys who are all just teasing those are some
friends of ours, but they're they're down there and they
have family, they're working on it.
Speaker 1 (27:21):
You know, they have a heart too for what's going
on over there.
Speaker 3 (27:24):
I know Patrick doesn't, So we'll try to when we
need to bring them back up too. Because they've gone
through another natural disaster in Dawson Spring, so we may
have to bring that up as well. Yeah, and I'll
see what Patrick can find out where we can help
over there.
Speaker 1 (27:39):
Yeah.
Speaker 2 (27:40):
And uh, but anyway, we know you're out there, We're
going to try to do what we can. And if
you are making donations, please investigate who you're making your
donations to. I can tell you some stories, you know,
I can tell you. I mean some of these people
you know, you know Red Cross wanting to come into
your medicine from that's been shifted to a doctor to
help things, you know, and they want to take over
and try to run and stuff.
Speaker 1 (28:00):
Sometimes.
Speaker 2 (28:00):
Just make sure you're making the down issue of the
right people. Some people you're gonna give it a dollar
and they gonna give.
Speaker 1 (28:04):
A dollar out. Some of them you're gonna give it
a dollar, they gonna get sixty cents outs so they
can put forty in your pocket. And that's just the facts.
You can look it up if you want to, and if.
Speaker 2 (28:12):
You want to list them all, you can look them
up online and I'll educate you on that.
Speaker 1 (28:16):
But it's not all it's that it's tapped out to be.
You know.
Speaker 2 (28:20):
I remember the Phonothon and all the other stuff that
we had, the tornadoes and all the floods and all
that out know where all that money went and nobody does,
but you know, we hope it goes for the right cause.
As you just can't ever find a guide to where
all those things go. But be prudent and do what
you can to help. We'll do what we can to
help and we'll get things done. So just pay attention
to it.
Speaker 1 (28:39):
Well.
Speaker 3 (28:39):
I think it's very important for the private sector to
pitch in to help these folks because I mean, I
don't have I don't expect FEMA to be able to
help everybody in need.
Speaker 1 (28:51):
They can't.
Speaker 3 (28:52):
I mean, we just don't have the resources with the
federal government for FEMA to be I know that they
are hopefully an impact. We need people to come to
the aid of their brother and when folks are going
through these natural disasters over in eastern Kentucky, and I
think that's where we have to. But but yes, you're
right in the fact that we need to give correctly
(29:13):
to people that actually use the money for what its
intended purpose is.
Speaker 2 (29:18):
Absolutely and through our trials and tribulations of fundraising and
doing all these things, we've learned sometimes the hard way
on where to put your money. And and you know,
and so you we've done it for a minute, you know,
and it's there's better ways than others sometimes, but you
know there's and and and yeah, I agree with Tim,
female can help everybody. Insurance companies need to step up
(29:38):
and do what they say they're.
Speaker 1 (29:39):
Going to do.
Speaker 2 (29:40):
They need to make it easy and then make it
a you know, quick and easy way for people to
move on and move forward. And we need to be
able to take care of, you know, the other things
that we've got to do.
Speaker 1 (29:50):
To you know, can be prepared for.
Speaker 2 (29:53):
The future when things may or may not happen or
come up or what have you. So you know, just
pay attention, but reach out to the people and don't
be afraid to ask for help if you need it,
and if you can help, please do it. You know,
neighbors or neighbors. And I don't care, Tim, you know
how it is for. We're just gonna raise money and
do the best we can with it and make sure
that it goes like it's supposed to.
Speaker 3 (30:13):
Absolutely, because in the past we've we've just opened an
account over at Lows and they come and they get
their supplies and they put it on our account, so
we know we're that money.
Speaker 1 (30:23):
Yep, we've had full control over it.
Speaker 3 (30:25):
So just maybe vet out the wherever you plan on
giving to help flood victims. Make sure it's the one
the people that are trustworthy and are really not paying
exorbited administration fees.
Speaker 1 (30:39):
I will call them yea.
Speaker 2 (30:40):
And we understand too that you got your cowards out here,
they're going to try to play the game, scam and steal,
so you know, make sure that you know who you're
working with and what you're doing as far as that
goes to. Don't be giving some money to people that
you know you can't bet out and make sure it's
going where it's supposed to. So we're going to take
another break. You listen to Welcome Home Show by Guardian Savings,
make that little music Today from Andrew Hoots there on
their It a Go. We appreciate them letting ushoes their
(31:02):
music to do this Bank's over form nine to one.
Phone numbers eighty five nine, eight, nine, nine one nine
three six South and Drives eight five nine two six
three three three three five.
Speaker 1 (31:10):
So if you can hear, you can call us.
Speaker 2 (31:12):
You listen Welcome Home Show by Guardian Savages Bank on
News Radio six thirty Wlap.
Speaker 1 (31:17):
Don't forget about the Cats are in town at nuone.
We'll be right back.
Speaker 2 (31:22):
You're back listening to Welcome Home Show by Guardian Savings
by Open Today.
Speaker 1 (31:26):
From nine to one.
Speaker 2 (31:27):
Phone numbers eighty 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,
she can call us. We appreciate you tuning into us.
Rates have been kind of jumpy today, kind of like
tim on on the tax day to at least they
gave me.
Speaker 3 (31:46):
They gave me into October to pay my tax bill
I follow this year or so.
Speaker 1 (31:49):
Yeah, don't forget. The Cats are playing at noon against.
Speaker 2 (31:52):
Texas and tomorrow as well at home, so get down
there and check them out. Beautiful stadium should be some
nice weather, do an atmosphere, so get out and be
able to do that.
Speaker 1 (32:02):
But anyway.
Speaker 2 (32:02):
The rates have been up and down all week. Obviously
there's a lot of different things going on in the
economy at this time. We'll see how it unfolds. In
our eyes. No reason that the rates are where they're at.
We feel like this should be lower. They have been lower.
The bond market is what dictates in the ten year
bond markets what dictates our rates.
Speaker 1 (32:19):
We talked about that earlier, but still, folks.
Speaker 2 (32:22):
You know, if you can afford to buy something now,
marry the home and date the loan.
Speaker 1 (32:25):
You can refinance at any time.
Speaker 2 (32:27):
And if you have a rate right now, it's seven
and three quarters, seven and a half, eight, eight and
a quarter ten just redid somebody was eight in a quarter.
You know, if you can get six eight seven five,
why not have a couple months without a payment. You know,
maybe get rid of mortgage insurance if you have. It
is depending on what's happened to your home since you've
been in it. You know, don't be afraid to call
and ask. If it makes sense, we'll do it. If not,
we're not going to anyway. They ain't gonna let us.
(32:49):
It's got to make sense for us to allow a
refinance to happen. We're not going to take the money
and then have an issue with it. We'll bet it
out and decide what to do before we take anything.
But you know, with the right credentials, I mean, you
can get done your loan reefinance for less than a
thousand bucks and there's nothing wrong with that and it
won't take you long to break even.
Speaker 1 (33:07):
On a thousand bucks if you know, if you do
it right.
Speaker 3 (33:11):
People only understood that refinancing doesn't have to be costly
and at Guardian Savings Bank, because we service these loans,
I mean, it's just unbelievable. We've been a'll do since
we've been been here in Lexington, but they've been doing
it for back of Charter in eighteen ninety five. You
can't beat our closing costs. I mean we cut out
the lenner's title insurance right off the top and that's
(33:33):
a big fee that we eliminate completely. So from that standpoint,
and then our philosophy is if we're only going to
bill you or charge you closing costs, that we is
a necessity to do your loan, and that means an appraisal.
We have to pay an appraiser, so you're paying them.
But it's a one set of fees, and that covers
your title exam, that covers your closing fee, document prep,
(33:57):
everything that we have to do physically do to put
a loan on the table for you to sign the paperwork.
So there's no junk fees unless your credits below seven
eighty or unless you have less than twenty five percent
equity on a refinance or purchase. There are points that
will come into play. We don't want to be a
bait and switch. And the forty four dollars he's talking
(34:20):
about is that does have an asterisk by it must
have seven eighty middle credit score. About the credit scores
we just talked about TransUnion equofacts and experience, and we're
going to look at your loan two value. Those are
the two top things that we look at to determine cost.
Everybody gets the same rate here, it's just you. If
(34:43):
you have less than twenty five percent equity and you
have less than seven eighty credit score, you still get
the same rate.
Speaker 1 (34:49):
Larry, you just.
Speaker 3 (34:50):
Have to pay an additional fee because of those factors.
Speaker 1 (34:54):
We didn't make them up. Those are Freddie mac Guideline. Yeah,
I'd like to ask those to look into those fees too.
Speaker 3 (35:01):
Yeah, we would love to eliminate the delivery fee system.
Is that was implemented that it was transitory. So and
that's the same reason the Federal Reserve has been resistant
to doing the mortgage backed Security program and lowering mortgage rates.
Speaker 1 (35:15):
They could single handily.
Speaker 3 (35:16):
Do it if if they had the votes to do it,
but they don't, and they keep digging their heels in
the sand about inflation, and that's what's causing rates to
even go up.
Speaker 2 (35:28):
And the thing about it is they're they're they're not
even using the news that we can see that doesn't
show you the fact about what's going on with these
I just.
Speaker 3 (35:34):
Don't understand how the bond trading during this tariff issue
has is any you know, it looks like there's a
lot of money coming into bonds. I just don't understand
why the Feds are allowing rates to go up again
when they can single handily control it.
Speaker 2 (35:49):
Yep, I agree, And it's just there. I think that's
what they called reset. Maybe that's what's gonna have to happen,
and we're gonna, you know, I think that, you know,
we just have to be patient and see what happens.
Speaker 1 (35:59):
Yeah, we don't know.
Speaker 3 (36:01):
But then they throw out the news that they've made
three they're gonna make three cuts this year, and everybody
thinks it's automatically going to magically cause mortgage rates to
go down. They've proven and that's not true, right because
our rates aren't down.
Speaker 1 (36:12):
And if you heard their last.
Speaker 3 (36:13):
Meeting, you know you think, well, you know when they
did lorder the fed fund rate earlier and this last
or later that in the twenty four you know, people
think that that automatically relates to thirty year fixed rate mortgages,
and it don't. It only applies to equity lines, which
relies on the prime index. Give us a call if
you have any questions about what you're going through. It
(36:36):
doesn't hurt to get another opinion, it doesn't cost you anything.
We are common sense people here at Guardian Savings Bank,
and that's how we make our living right.
Speaker 2 (36:46):
And another thing is I tell you what I was
going to point talk about. We'll talk about more of
the next show too. Don't let people pick your closing
attorney for you. I'm seeing all these contracts come in.
We're realtors trying to breck where we're going to close
the loan. It don't let them do that to you.
They do it in Louisville, and we got to try
to get up. If you want to pay three thousand
dollars for closing, that's fine. If you want to pay
two ninety five or the spot.
Speaker 1 (37:08):
And I've been seeing more and more of that. So
if you're out there shop, my brother law knows a
guy act me a title coming. Yeah, well have I
say charge? Yeah, Well here's what we charge. Yeah, what
do you want to do?
Speaker 2 (37:18):
They charted thirty seven hundred, We cost two ninety five?
What do you which one do you want? So just
be aware that for some reason that this I had
it just hit me again where you know people do
that to meanway.
Speaker 1 (37:27):
We hope you've enjoyed the show. We'll be back next Saturday.
Speaker 2 (37:29):
The Cat started today at noon at home playing Texas
over on the baseball field, get over and checking them out.
But we hope everybody stays safe, dry out and we'll
go from there. We'll be back next Saturday. You've been
listen to Welcome Home Show by Guardian Safey's Bank on
news radio. That's right here on stick thirty w l
Ap'll be back next weekend,
Good morning.
Speaker 2 (00:08):
Lets you tell your listen up the home show a
BYuT Guardian save He's bank very freaks, Tim Adams, look
you this Saturday morning, glad to have you tuned into US.
Bank is open to day from nine to one on
numbers eighty five, nine, eight nine, nine, one, nine three six.
That's here in Hamburg, Southam drives eight five nine two
six three three three three five. So if you can
hear she could call us been a up and down
(00:29):
week in the economy, Tim, I mean the information coming
out's good force as far as PPI and CPI. But
then you got all the mainstream media, you know, they
get keep everybody started up, every people.
Speaker 1 (00:41):
I long seventeen thousand dollars on a four O. Why
I said, did you have to use your money today? No?
Well in the what did you lose? Hey? We talked
about it all the time.
Speaker 3 (00:50):
Where are the cycles of life and the cycles of
all things tied to the economy and Wall Street? I
love the smell of Wall straight in the morning, though,
Larry's an exciting time with the tariff, you know, being discussed,
and obviously we saw what a twenty three thousand point
(01:12):
drop one day and a twenty and then a twenty
dreex and so it's that's what it's and a lot
of these smart guys will drive that market down, yeah
with news that didn't buy him.
Speaker 2 (01:25):
When it gets cheaper, let everybody have a fair share.
And but it just it is tough to watch, man,
And it's just it. There is so much information out
here that you can read and teach yourself and learn
how to kind of see what's going on. But people
hear this stuff and just immediately go to a state
of panic.
Speaker 1 (01:44):
Oh, I mean, and I think twenty one was a
twenty twenty one.
Speaker 2 (01:47):
We had like a twenty percent drop in the market,
never heard a word, and then all of a sudden,
now boy, everything's on fire. But you know, the bond
market is what drives these mortgage rates, and it's been
as as low as runing around four on the ten
year bond and then it is up to four thirty seven.
Speaker 1 (02:03):
Four fifty was covering that on Friday.
Speaker 3 (02:08):
So yeah, so yes, people are very confused about that issue.
And you know, we tried to explain it on here
quite often that the Federal Reserve, when you talk about
a cut, they're talking about the Fed Fund rate. So
before you go talking about what you think, you know,
look up the Fed Fund rate and see how the
Federal Reserve operates. You really want to get in a
(02:30):
rabbit hole. Soue who runs it. Yeah, he's surprised. It's
very historical. They're very influential group of men I want
to call. And of course the government appoints a liaison
or spoken. This is Jerome Powell right now. And of
course we have a new Treasury Secretary, mister Bascent, and
(02:51):
I'm impressed with his, uh, you know, his take on everything.
And they're you know, they're working as a team. And
I don't think Americans understand that this is all for
the long term, good for our country. And of course
you see you see them show clips from nineteen ninety six,
we're one side saying that we do need to work
(03:13):
on our trade deficit, and then they come back and
there against now the trade pursuing the Balancing Act with
the trade deficit. So anyway, we don't want to talk
about any of that, but were just on here every
week to kind of let you know what's going on.
And right now we're seeing no improvement in mortgage rates
(03:33):
per se. And I think at Friday, we're at six
point eight seven five on a thirty year fix and
six and a half on a fifteen I did book
something this week, and I got up one morning and
I saw the bomb markets working against us and Larry,
we had to pull of money at one time here
just a few weeks ago, at five point seventy five
(03:55):
on a fifteen year and that's what we're talking about
this cycle. Well, that same line now is six and
a half over this over investor's sentiment about long term
situation with our with the economy.
Speaker 2 (04:09):
Yeah, And the thing about it is, once again, there's
so many resources out here you can look at other
than just listing the mainstreamers. You can get into CBS MarketWatch,
you can go to any type of financial website. You
can last for definitions, look at the terminology and see
what's going on. And really, you know, we're more concerned
with the ten year bond. That's what's dictating our rate.
That's what's telling us exactly what's happening and what the
(04:31):
cost of money is. And that's what you know, rows
the boat in here for us. But you know, there's
still an opportunity for people to borrow. There's still an
opportunity for people to buy, and there's an opportunity for
people to consolidate bills. You know, I put several loans
together for people who had a lower mortgage rate, but
they had you know, twenty five thirty percent on their
credit cards that they needed to consolidate into their mortgage
(04:51):
and we were able to do that. And you know,
that's kind of you know, the people are still going
to need money the world. It's not you know, we're
in no differ from economic condition now than we were
three years ago, when it wasn't that big of a deal.
Speaker 1 (05:04):
But all of a sudden, it's a big deal.
Speaker 2 (05:05):
You know, when we were sitting here and going, oh
my guys, what's going on and we're it's like, you know,
couldn't put our finger on it. And then we start
making some progress and then it goes back. You know,
it's all sicklical. It's been like that. How many times
in our life. You're you're, what's seventy two years old?
Speaker 1 (05:18):
Tim? Oh easy now?
Speaker 2 (05:21):
But I mean it's just one of those things that
you know, we see come and go. So don't you know,
don't believe everything you hear, do a little bit of
homework on your own and put some things together that
you can understand. And you know, if you have a
financial advisor, you know most of those guys are attuned
to what's going on. Some of them are better than others.
There's some darn good ones around here. Mark Cronin and
(05:43):
right and all these guys. There's some good people around
town that you're going to want to listen to and
pay attention to on getting stuff done and making sure
that things are you know, working the right way. But
take your time, do your homework, and don't panic over
what you hear every time. I mean, it's just like
I say, people are like, oh, you know, I lost
all this and lost all that, and I'm like, if
you had to use your money today, didn't Yes, you
did have a loss, but it's going to come back.
Speaker 1 (06:04):
You know, it's going to build back.
Speaker 2 (06:05):
And if you're doing it right, you're buying now at
the lower rate and your your average costs for sharing
some area, this is going to be better. Would you
stay ten? Is that the way you understand how it works?
If you bought some at fifteen dollars and it dropped
around to eleven, and you bought some at eleven for
a while, then it went back to fifteen.
Speaker 1 (06:21):
You know what I mean?
Speaker 2 (06:22):
Now you you know now you got you know, twelve
dollars three cents of share that you averaged out or whatever.
You just well, you know, I recently purchased some NA video.
Speaker 3 (06:30):
Yeah, you know, I'm starting to you know, I want
to get broad my horizons in my four oh one.
So but with just on his hide bed, I did
play a little in the VIDIA. Well you know, I
got hitting them, you know, I got buying sided right
out of the box, and the stock dropped from I
got in at one hundred and seven and then.
Speaker 1 (06:52):
Dropped out of ninety thirty.
Speaker 2 (06:53):
Yeah, so one of my so I should call my
advisor and say, you son of a note, why did you?
Speaker 1 (07:00):
You know you should get him some more money and
buy more if you believe in it, you know That's
what I'm saying.
Speaker 3 (07:04):
Yeah, but what you're hearing this outcry about the markets
is he's caused by four oh one to go down.
Who's he Trump? Oh, that's his all his fault. Yeah,
you know, maybe he is partly to blame.
Speaker 1 (07:17):
Well let me the tariffs are are now.
Speaker 2 (07:19):
It is what it is, it's nerve wrecking for a
lot of people because and I try to buy American
all the time anyway, always have, always will, you know. Unfortunately,
I could get a better foreign vehicle, which is one
of your other than your houses, you know, your next
biggest investment.
Speaker 1 (07:31):
Generally, and you know, and I know, you know, you
know how I.
Speaker 2 (07:34):
Feel about that. But I mean they already owned one,
so I'm not gonna have to worry about it right now.
So you know, it's just one of those things that
you know, it's just they all the news there is
there any is there any good news that ever that
you ever see on TV or there.
Speaker 1 (07:51):
I'm out there, but it's it's more.
Speaker 3 (07:54):
It's all device the p yeah, to take the spotlight
in the media today. You I mean, they do some
of these shows and they go talk to people on
the street and they ask them questions, you know about
who's some people, who.
Speaker 1 (08:09):
Is the first present?
Speaker 3 (08:10):
They don't know who's you know, so and so don't know,
but they've got an opinion about something.
Speaker 2 (08:17):
Some of them don't even know what the arguing over, right,
you know, you go out here to some of these
people that are you know, your protesting today, said do
you know what, uh you know, so do you know,
just do your own homework, do your own homework, find
out what's going on.
Speaker 3 (08:31):
They were at the debate club and high school their
full time career debaters. I guess, I guess there's always
gonna be a descent, Larry. You're never going to get
all the people all the time.
Speaker 1 (08:44):
Yeah, that's a numbers game. I get that.
Speaker 2 (08:45):
But I just hate for people to feel it's depressing, you.
Speaker 1 (08:50):
Know, And I just hate for people to to get
eye into that and be worried and be stressed.
Speaker 2 (08:55):
And the media plays into that. They want they want
the depression, they want the anxiety. They want they want
to get to vision.
Speaker 3 (09:01):
They get tore up over a media commentary, yeah comments.
Speaker 1 (09:04):
And they can bleed and do all the stuff.
Speaker 2 (09:06):
Did you see all the AI stuff that came out
after the Final Four and all the different things they
did to these coaches and stuff.
Speaker 1 (09:11):
It was funny. You know, anything you can play on
the air, but it.
Speaker 2 (09:14):
Was act like they were talking about their players or
their outfit or their new shirt or what have you.
And it was just comical to see all the different
stuff on there. But I mean, you know, they can
bleed all this information in under you know, the voices
and stuff.
Speaker 1 (09:27):
It's crazy, but you know, we've got it.
Speaker 2 (09:29):
We've got to you know, we're very I'm thankful for
the pipeline. We have a lot of people taking advantage
when these rates have been low. Some of them are
still getting things done with their contracts and making things happen,
and and uh, you know, right now it's still a
great time to buy. I mean there's houses out here.
And trust me, when the lower rates go, the more
it is going to be for you to be able to,
(09:51):
you know, have competition alone. If you can buy something now,
buy you, marry the home, date the loan.
Speaker 1 (09:58):
Get it in, get it in your poor they'll get
it in.
Speaker 2 (10:00):
Your possession, and you can refinance it at any time.
And for people that have loans right now that are
seven and a half, seven and three quarters, you refinance
on recent of people's eight in a cord cod you know.
Speaker 1 (10:11):
I mean, if you were to.
Speaker 2 (10:12):
Go to six and a half for six eight, seven
five right now and you're saving what, why would you
not do it? I don't care if you've been in
the home for six months, you know, get taken.
Speaker 3 (10:21):
These particular customers, you know, came from a financial advisor.
Speaker 1 (10:26):
Okay, there's your sign, Larry.
Speaker 3 (10:28):
If a financial advisor says, go ahead and refinance your
loan and get it done right now, start saving, and
then they realize the importance of what we bring to
the table. That's we can refinance them again for very
little yep, if it goes to five and a half.
Speaker 1 (10:43):
And that's what people have to recognize, you know. In here.
Speaker 2 (10:46):
I mean I was talking to somebody and said, but
when you've always heard it doesn't make sense to do
it if you're not saving one percent.
Speaker 1 (10:52):
Yeah, that's true.
Speaker 2 (10:53):
To check your closing costs and your escrows are not
closing costs. You're going to get your escrow money back
from your other lender people. You know, they'll use that
all the time that there's four thousand dollars. You said
it was only going to be nine hundred and.
Speaker 1 (11:05):
Fifty eight, Yeah, or thirty one hundred other dress grows. Well.
Speaker 3 (11:09):
I had a call this week from a customer and
his daughter was buying a home, putting I think five
percent down. They had offered her six percent interest rate
the closing costs for twenty four thousand dollars total settlement
charges including prepaids, and that scrows, Oh, twenty four thousand
dollars to get six percent buying the rate down?
Speaker 1 (11:30):
So many times could she refinand.
Speaker 3 (11:32):
She's going to be bringing in ten percent plus the
whatever the buydown was part of it is the eighteen thousand.
Speaker 1 (11:40):
That she's going to have to borrow now right, Yeah.
Speaker 3 (11:44):
To get six percent, and that that's you know, don't
get me wrong, six percent of when we haven't seen it.
So I understand the shiny ball, oh six percent, but
doesn't understand the bottom line of that buy down fee.
Speaker 2 (12:00):
Yeah, and how long? How many times they could refinance
it and have that money on hand?
Speaker 1 (12:04):
I don't know.
Speaker 3 (12:05):
I haven't seen the actual settlements are the disclosure he
was going to send it to me to just to
look at. From my opinion, I mean, really, twenty four
thousand dollars and closing calls in pre bank.
Speaker 1 (12:17):
Yeah, that's crazy.
Speaker 2 (12:18):
Hey, we're going to take a break in this line
this first session down. We're gonna be right back. Bank
is open to day from nine to one from numbers
eight five, nine, eight, nine, nine, one nine three six
Southland Drives eight five nine two six three three three
three five.
Speaker 1 (12:31):
So if you can hear, you can call us.
Speaker 2 (12:33):
We'll talk a little bit more about what's going on
in the econy, what's going on around the bank, maybe
talking about credit, a few things like that. So you
are listening to Welcome Home Show by Guardian Savings Bank,
Open to day from nine to one on numbers eight five, nine, eight, nine,
nine one, nine three six.
Speaker 1 (12:47):
You listen to us on news radio six thirty w
LA two. We'll be right back. You're back.
Speaker 2 (12:54):
Listened to Welcome Home Show by Guardian Savings Bank. Tim
Adams Larry Frank's in here this Saturday morning with you.
Banks open a day from nine to one, numbers eight five, nine, eight, nine,
nine one nine three six South and Drives eight five
nine two.
Speaker 1 (13:07):
Six three three three three five. So if you can
hear she can call us.
Speaker 2 (13:11):
Be glad to talk to you about some mortgage financing.
Don't do boat loans, note loans or car loans. That
we do mortgage financing. We do a pretty dark good
job at it, don't you think, Tim.
Speaker 3 (13:20):
Absolutely, we're a mortgage bank when our brokers, so our
profitability is taking payments on loans for our investor Freddie
mac Yep, there's another good What we service your loan? Yeah?
Speaker 2 (13:32):
What do you think about Andrew and Hook's the band
that's playing music on the show for us.
Speaker 1 (13:36):
It's very talented artists.
Speaker 2 (13:39):
Yeah, out they got a new album out and they
won some national award of stuff. But Andrew more buddy mine.
He plays down at Brubies all the time. So if
you go down there and hear him on the piano.
And I saw him a couple of years back when
Toby Keith was in for the Derby or Breeders stuff
I can't remember which.
Speaker 1 (13:54):
He got up sang a song with them on.
Speaker 2 (13:56):
Stage and stuff. So he's a good guy man. He's
from down and then in an area baseball.
Speaker 1 (14:01):
Seasons in full swing.
Speaker 3 (14:02):
Yeah, somebody's sent me a picture of river Front Stadium.
It is the river has crested and the fields flooded.
Oh no way, Yes, the water has come up so
far up on the stadium.
Speaker 1 (14:15):
Oh my goodness.
Speaker 2 (14:16):
Well, I don't know how it's gonna be this Saturday,
but I know Texas is coming to town. They're gonna
play UK today and tomorrow at noon. So if it's
warm enough and dry enough and you can get out
and see that, I believe that they're okay, I think,
but just do anything short of lighting they can play
over at uka. You know, this sec this whole thing
and every sport has changed with the addition of these
new teams. And but today at noon here just a
(14:38):
little bit about an hour from when the show's over,
get on over to the UK so weather permitting, and
everything's still going on. I haven't seen any updates on it,
but it should be fun. Fun and see what's going on.
But today or tomorrow at noon. But hey, we're talking
a little bit about credit. I've been looking at a
lot of different credit scenarios for people, and one thing
I like to tell people, oh my, just looking at
(15:00):
the picture of the riverfront, that's crazy. I was talking
to some people and you know, you do have to
pay your bills on time to qualify for a home
tim you know. I mean it's the credit history of
people sometimes and they you know, get their priorities mixed
up on getting a tattoo or a new phone versus
paying their bills, and sometimes it's you know, it can
hurt their credit. The thing with credit I want to
(15:20):
want to point out is, you know, our job is
evolves around the three seas credit capacity and collateral and
credit is the heartbeat of your financial ability to borrow.
And when you have three open lines of credit that
you've paid on time, and you have balances of sixty
percent or less on those things, you're going to have
a maximum score. Most of the time, inquiries can affect
(15:42):
your score, and I want to address that people are
in the first two weeks of mortgage shopping. You can
have mortgage companies for your credit to not affect your score.
A lot of people think, oh, I got my credit
pull so by you know, by my guard you and
I don't know if I can shop any well. First off,
if I get your credit scores, I'm gonna tell you
what they are. And if you cost somebody else shopping,
you can tell them what the score is. They might
be able to get you a quote with using it.
(16:03):
And if I know that somebody's called me and they've
they've had their credit report from a credible source and
then I get a little bit of information, I can
consider that score that's been referred. But what you see
on your phone and what you see from the free
stuff is not always what we see in what we
call residential mortgage credit report, and that's where people get
lost in And I know you've talked to them about
it for a long time, and you know, how do
you try to explain to people the residential mortgage credit
(16:25):
report versus you know, credit report dot com.
Speaker 3 (16:27):
Or Something's a lot of different what we call algorithms
that create credit scores. But I mean we rely on TransUnion, Equifax,
and Experience. That's what we draw our scores from those
three companies. But there's Fiico and there's you know, you
go to other different Experience direct, we'll give you a
(16:48):
credit score. But as long as you limit your credit
inquiries to you know, two weeks is the guideline for
mortgage shopping. For mortgage shop but I don't think as
far as you going to automobile dealership, there's but evelateral
damage from those inquiry, well not much, but there you
(17:09):
get somebody to run about thirteen times if you well,
you go to one car lot and they'll run it
eight times from eight different lenders. Yeah, for because they
shop it. You know, obviously lenders are competing for these
car loans.
Speaker 1 (17:21):
You know, it's just something.
Speaker 3 (17:22):
You've got a monitor you need, You need a monitoring service, really,
and I do. My Discover card offers me a glimpse
of my credit score if I you know, ever any
time I want to. So you got to monitor your
credit of course, because if you see your credit go
down to you know something's caused it.
Speaker 1 (17:39):
So you need to know why.
Speaker 3 (17:40):
You know, we really don't have you know, I've had
had a customer that's done a refine. They had eight
different inquiries for mortgage shopping. But then you know, I
don't know if it made a difference in what their
score would have been if they didn't have them, that
their scores were still adequate enough for compliance with US.
Speaker 1 (17:55):
Yep.
Speaker 2 (17:56):
And we encourage people to shop around for mortages. We're
not going to give them something that doesn't. Yeah, yeah, absolutely,
and that's.
Speaker 3 (18:02):
Why, in fact, I'm talking about these exorbitant closing colls
offered by another lender.
Speaker 2 (18:07):
Hey, we're gonna take another break. Your listen to Welcome
Home Show by Guardian Saves Bank. We are open today
from nine to one. 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 us, you can call us once again.
You're listening to Andrew and Hooch on the radio this morning.
They're playing little music for you. We're gonna be right
back your Listen to Welcome Home Show by Guardian Saves
(18:29):
Bank on New.
Speaker 1 (18:30):
Radio six thirty Home of the Wildcats w LAP. We'll
be right back. You're back.
Speaker 2 (18:35):
Let's to Welcome Home Show by Guardian Savis Bank, Larry Frank,
Tim Adams in here this Saturday morning. We're glad to
have you tuned into us. Yeah, hangs over today from
nine to one. Phone numbers eight five, nine eight nine
nine one nine three six. Southland Drives eighty five nine
two six three three three three five. So if you
can hear, you can call us. We are be glad.
We're glad to be in here. Chat with you a
(18:56):
little bit. It's been crazy, man. Not only is this
stuff going on in your comedy, but just well there
and the flooding and.
Speaker 1 (19:02):
All the craziness.
Speaker 2 (19:02):
We're talking about Riverfront, but I mean, now there's a
lot worse than that going on for people on a
week feel you. We involved in some in a few
different organizations that try to help during these circumstances, and
I'm sure that we're going to be, you know, on
top of it, but we hope that everybody's going to
be okay mentally and can get you know.
Speaker 1 (19:19):
Can get by, but you know we can.
Speaker 2 (19:21):
We'll try to help everybody we can, and there's you know,
all kinds of help that will be available to rebuild
and hopefully save as much of your your personal property
and stuff as there is. But we understand it's it's
crazy out there, and just I don't know that I've
as long as I've been in Kentucky, taim, I don't
know that I've seen it, you know, as dramatic as
it is right now. I know that we've you know,
had some floods and some tornadoes and a few things,
(19:42):
but wow, I mean this area is that you very
seldom here of have really gotten it gotten it bad
this time. So we know, we know you're out there,
we know you need help. We're going to be doing
what we can from our side of it in here
and reach out to the organizations in your area, and
you know, we'll be doing what we can from our
Realder Community Housing Foundation and the other resources that we
work on and our you know, our community reinvestment stuff
(20:03):
and we do a lot of fundraising, a lot of
stuff in years talking about on the radio. This is
what this is for for certain circumstances when people need help,
and you know, things happen that you just can't prepare for,
be ready for, and and you know, we'll we'll, we'll
do what.
Speaker 1 (20:16):
We can to be there.
Speaker 2 (20:16):
But anyway, rates have been up and down this week
and in the last ten days. You know, the tariffs
kicked in, and you know, there's a lot of people
coming to the table try to get to zero tariffs,
and there's some people that are just you know, going
to divide it.
Speaker 1 (20:27):
And that's okay.
Speaker 2 (20:29):
Now, I trust you know that the person running the
country is competent enough to make some decisions. I realize
he's not perfect. I realize he's not gonna do everything
as everybody wants to be done. But I just you know,
heye to gotting. He's going to be here for the
next couple of years. Let's let's see what happens. Let's,
you know, try not to have so much stress and
strife and arguing and fighting over everything that's going on,
(20:51):
and just just sit back and pay attention and see
what's going on.
Speaker 1 (20:55):
We're all in it together. I ain't I ain't paying
any different prices for gas than you are. Tim, I
ain't paying any different in a gallon of milk in
you or it don't make any difference. We can set
here all day long, but we're all living under the
same circumstances and that's the way the country has set
up and found it.
Speaker 2 (21:09):
If we agree with it or not, that's who we
got to deal with and that's what we're going to
be doing. So we feel like, you know, the bond market,
which is what you know, dictates the pricing and everything
that we offer in here, and Tim, you and our
both commission employees, and you know, when things get hired
and things slow down, we're not making as much money.
When things go lower and more people are buying and refinancing,
we make more money.
Speaker 1 (21:29):
But it's just we're riding it with you.
Speaker 2 (21:30):
You know, we are in it with you, and we're
riding it with you, and it's just the way it is.
And we feel like, you know, although these things are
not something we have a crystal ball to understand exactly
how they're going to unfold. I don't think it's as
bad as everybody makes it out to be. There's I
can't ever think of a change, a major change ever
in my lifetime where there wasn't, as you say, tim
a numbers game of you got your people that are
(21:52):
going to descend on it, and now other people are
thankful that we've got to change, you know, and you
just kind of have to ride it out and see,
you know where it's going to unfold. But don't pay
you Yeah, your thoughts of market might be down a
little bit. Your four oh one k would be affected,
But if.
Speaker 1 (22:04):
You didn't have to have the cash today, you ain't
taking a loss out on it. You know.
Speaker 2 (22:07):
That's why I tell people all the time, you ain't
taking a loss unless you sell at a loss, it's
still there. The value is gone down. If you had
to cash out today, I'm sorry about your luck. But
if you're still in it to win it, then buy,
you know, stick it in view bottom to begin with.
Speaker 1 (22:22):
You know, changes are happening. We just have to see
if fittle unfold.
Speaker 2 (22:25):
But tariffs are new to us in US and forcing
them against other countries.
Speaker 1 (22:29):
We paid them, We paid them.
Speaker 3 (22:32):
Yeah, Well, most of the your investments should be i
mean growth, yeah, diversified and based on growth. And as
I'm learning more about the investment game, as far as
my four oh one K, and we're we've been talking
(22:52):
about changes that we're going to maybe implement in our
strategy now and incorporate some more AI or you know, uh,
chip stocks, whatever I've got. I've got a mutual fund
that's blending Apple and Navidia and Broadcom and those are
all very well respected companies and the majority of it
is there.
Speaker 1 (23:12):
And some of those do pay a dividend. Uh, some don't.
Speaker 3 (23:17):
So you know, if you're you've got an account making
a dividend, I mean, you're in it for the growth,
the growth of this account, not for you can't look
at it every day, they'll drive you crazy. Right, So
Americans just need to settle down, simmer sim it down
now because uh, what goes up, goes down, goes up.
Speaker 1 (23:41):
It's a cycle. And don't lose sleep over your four
oh one K this evening. It is my advice to you.
Speaker 3 (23:50):
And if you're listening to us from down in Somerset, Kentucky,
we service that area. So if you're purchasing down in
that area, the Lake Cumberland area area, give us a call.
We do service Somerset and I know that now. The
Somerset Realtors are part of the Bluegrass Realtors or Bluegrass
(24:10):
Reltures Association of Bluegrass Reltuors.
Speaker 1 (24:13):
So I want to throw out there, Larry.
Speaker 2 (24:16):
Yeah, absolutely, And I mean, you know, there's a lot
going on, and there's you know, all kinds of things
in the economy, there's all kinds of things that we're
just living with based on things we can't control.
Speaker 1 (24:29):
We don't think like the weather in some of these things.
Speaker 2 (24:34):
But we just want to try to, you know, make
sure that people know that there is hope, there's people
out here that are going to help, there's.
Speaker 1 (24:40):
People that are willing to help, and you know, we'll
all get through it together. We'll get it.
Speaker 2 (24:45):
And like I say, it, don't make a difference with
side John about what's going on.
Speaker 1 (24:49):
We're all in together.
Speaker 2 (24:49):
We all paying the same for a price of gas,
we're all paying the same for food. You know, some
people are bargain hunters, might have some cubans and that
might save some somebody some money.
Speaker 1 (24:57):
But other than that, we're all in it together.
Speaker 2 (25:00):
We'll get through this. Things are going to happen, some
are good, some are bad. Always that never fails, and
it really just depends on how.
Speaker 1 (25:05):
You look at it.
Speaker 2 (25:07):
That's half fool's a cup half empty, you know, so
it's I'm a half full guy. So we just want
you to know that we're here and we're gonna help.
You're gonna do what we can. And then we participate
in some organizations outside of the bank that help try to.
Speaker 1 (25:23):
Help people get through these times. Tim and we will
be good. Uh.
Speaker 3 (25:27):
We will be attending and board meeting for the Realtor
Community Housing Foundation and you'll hear their their little PSA
announcement on here every week. And we mainly install wheelchair
ramps for the folks in need of accessible accessibility into
their homes. But we're going to talk about sending more
(25:47):
relief funds over at Eastern Kentucky this week, Larry and
our next Monday. And so we're part of a of
a of organizations that are that do make a difference
in this community. And we're very proud to be our
you know, Lexington Community Bank serving the Central Kentucky So
(26:10):
you can be proud of the fact that if you
get a mortgage with us, you know it's a bank
that has a heart. We do have empathy and we
should be helping people in need in our footprint or
we do business and make money.
Speaker 2 (26:25):
Well, you go far beyond our footprint. Have We've been
at Western Kentucky helping people. We've been way over in
eastern Kentucky helping people. And that's you know, that's we
just we can talk about the economy and make fun
of the different things. But I mean, you know, there's
there's a lot more going on to MECII and you
know all the people went through that stuff over North Carolina.
I mean, you know they're making a comeback. Everything will
be okay. We're gonna get there and get things taken
(26:46):
care of.
Speaker 3 (26:46):
But if you hit the wonder if you live in
Dawson spring they got hit by a tornado five years ago,
they got hit by another tornado a year ago, and
now they've been flooded. Yeah, I mean, if you're living
in Dawson Springs, you got to think and what Lord
did we do yep to deserve this type.
Speaker 1 (27:03):
Of feather they're producing.
Speaker 2 (27:04):
Chris Mencer, Yeah, Now, Chris is a good guy.
Speaker 1 (27:08):
He's doing his have done them. And Patrick Robbinson.
Speaker 2 (27:11):
Yeah, Patrick, Yeah, keep an eye on them guys. But
those guys who are all just teasing those are some
friends of ours, but they're they're down there and they
have family, they're working on it.
Speaker 1 (27:21):
You know, they have a heart too for what's going
on over there.
Speaker 3 (27:24):
I know Patrick doesn't, So we'll try to when we
need to bring them back up too. Because they've gone
through another natural disaster in Dawson Spring, so we may
have to bring that up as well. Yeah, and I'll
see what Patrick can find out where we can help
over there.
Speaker 1 (27:39):
Yeah.
Speaker 2 (27:40):
And uh, but anyway, we know you're out there, We're
going to try to do what we can. And if
you are making donations, please investigate who you're making your
donations to. I can tell you some stories, you know,
I can tell you. I mean some of these people
you know, you know Red Cross wanting to come into
your medicine from that's been shifted to a doctor to
help things, you know, and they want to take over
and try to run and stuff.
Speaker 1 (28:00):
Sometimes.
Speaker 2 (28:00):
Just make sure you're making the down issue of the
right people. Some people you're gonna give it a dollar
and they gonna give.
Speaker 1 (28:04):
A dollar out. Some of them you're gonna give it
a dollar, they gonna get sixty cents outs so they
can put forty in your pocket. And that's just the facts.
You can look it up if you want to, and if.
Speaker 2 (28:12):
You want to list them all, you can look them
up online and I'll educate you on that.
Speaker 1 (28:16):
But it's not all it's that it's tapped out to be.
You know.
Speaker 2 (28:20):
I remember the Phonothon and all the other stuff that
we had, the tornadoes and all the floods and all
that out know where all that money went and nobody does,
but you know, we hope it goes for the right cause.
As you just can't ever find a guide to where
all those things go. But be prudent and do what
you can to help. We'll do what we can to
help and we'll get things done. So just pay attention
to it.
Speaker 1 (28:39):
Well.
Speaker 3 (28:39):
I think it's very important for the private sector to
pitch in to help these folks because I mean, I
don't have I don't expect FEMA to be able to
help everybody in need.
Speaker 1 (28:51):
They can't.
Speaker 3 (28:52):
I mean, we just don't have the resources with the
federal government for FEMA to be I know that they
are hopefully an impact. We need people to come to
the aid of their brother and when folks are going
through these natural disasters over in eastern Kentucky, and I
think that's where we have to. But but yes, you're
right in the fact that we need to give correctly
(29:13):
to people that actually use the money for what its
intended purpose is.
Speaker 2 (29:18):
Absolutely and through our trials and tribulations of fundraising and
doing all these things, we've learned sometimes the hard way
on where to put your money. And and you know,
and so you we've done it for a minute, you know,
and it's there's better ways than others sometimes, but you
know there's and and and yeah, I agree with Tim,
female can help everybody. Insurance companies need to step up
(29:38):
and do what they say they're.
Speaker 1 (29:39):
Going to do.
Speaker 2 (29:40):
They need to make it easy and then make it
a you know, quick and easy way for people to
move on and move forward. And we need to be
able to take care of, you know, the other things
that we've got to do.
Speaker 1 (29:50):
To you know, can be prepared for.
Speaker 2 (29:53):
The future when things may or may not happen or
come up or what have you. So you know, just
pay attention, but reach out to the people and don't
be afraid to ask for help if you need it,
and if you can help, please do it. You know,
neighbors or neighbors. And I don't care, Tim, you know
how it is for. We're just gonna raise money and
do the best we can with it and make sure
that it goes like it's supposed to.
Speaker 3 (30:13):
Absolutely, because in the past we've we've just opened an
account over at Lows and they come and they get
their supplies and they put it on our account, so
we know we're that money.
Speaker 1 (30:23):
Yep, we've had full control over it.
Speaker 3 (30:25):
So just maybe vet out the wherever you plan on
giving to help flood victims. Make sure it's the one
the people that are trustworthy and are really not paying
exorbited administration fees.
Speaker 1 (30:39):
I will call them yea.
Speaker 2 (30:40):
And we understand too that you got your cowards out here,
they're going to try to play the game, scam and steal,
so you know, make sure that you know who you're
working with and what you're doing as far as that
goes to. Don't be giving some money to people that
you know you can't bet out and make sure it's
going where it's supposed to. So we're going to take
another break. You listen to Welcome Home Show by Guardian Savings,
make that little music Today from Andrew Hoots there on
their It a Go. We appreciate them letting ushoes their
(31:02):
music to do this Bank's over form nine to one.
Phone numbers eighty five nine, eight, nine, nine one nine
three six South and Drives eight five nine two six
three three three three five.
Speaker 1 (31:10):
So if you can hear, you can call us.
Speaker 2 (31:12):
You listen Welcome Home Show by Guardian Savages Bank on
News Radio six thirty Wlap.
Speaker 1 (31:17):
Don't forget about the Cats are in town at nuone.
We'll be right back.
Speaker 2 (31:22):
You're back listening to Welcome Home Show by Guardian Savings
by Open Today.
Speaker 1 (31:26):
From nine to one.
Speaker 2 (31:27):
Phone numbers eighty 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,
she can call us. We appreciate you tuning into us.
Rates have been kind of jumpy today, kind of like
tim on on the tax day to at least they
gave me.
Speaker 3 (31:46):
They gave me into October to pay my tax bill
I follow this year or so.
Speaker 1 (31:49):
Yeah, don't forget. The Cats are playing at noon against.
Speaker 2 (31:52):
Texas and tomorrow as well at home, so get down
there and check them out. Beautiful stadium should be some
nice weather, do an atmosphere, so get out and be
able to do that.
Speaker 1 (32:02):
But anyway.
Speaker 2 (32:02):
The rates have been up and down all week. Obviously
there's a lot of different things going on in the
economy at this time. We'll see how it unfolds. In
our eyes. No reason that the rates are where they're at.
We feel like this should be lower. They have been lower.
The bond market is what dictates in the ten year
bond markets what dictates our rates.
Speaker 1 (32:19):
We talked about that earlier, but still, folks.
Speaker 2 (32:22):
You know, if you can afford to buy something now,
marry the home and date the loan.
Speaker 1 (32:25):
You can refinance at any time.
Speaker 2 (32:27):
And if you have a rate right now, it's seven
and three quarters, seven and a half, eight, eight and
a quarter ten just redid somebody was eight in a quarter.
You know, if you can get six eight seven five,
why not have a couple months without a payment. You know,
maybe get rid of mortgage insurance if you have. It
is depending on what's happened to your home since you've
been in it. You know, don't be afraid to call
and ask. If it makes sense, we'll do it. If not,
we're not going to anyway. They ain't gonna let us.
(32:49):
It's got to make sense for us to allow a
refinance to happen. We're not going to take the money
and then have an issue with it. We'll bet it
out and decide what to do before we take anything.
But you know, with the right credentials, I mean, you
can get done your loan reefinance for less than a
thousand bucks and there's nothing wrong with that and it
won't take you long to break even.
Speaker 1 (33:07):
On a thousand bucks if you know, if you do
it right.
Speaker 3 (33:11):
People only understood that refinancing doesn't have to be costly
and at Guardian Savings Bank, because we service these loans,
I mean, it's just unbelievable. We've been a'll do since
we've been been here in Lexington, but they've been doing
it for back of Charter in eighteen ninety five. You
can't beat our closing costs. I mean we cut out
the lenner's title insurance right off the top and that's
(33:33):
a big fee that we eliminate completely. So from that standpoint,
and then our philosophy is if we're only going to
bill you or charge you closing costs, that we is
a necessity to do your loan, and that means an appraisal.
We have to pay an appraiser, so you're paying them.
But it's a one set of fees, and that covers
your title exam, that covers your closing fee, document prep,
(33:57):
everything that we have to do physically do to put
a loan on the table for you to sign the paperwork.
So there's no junk fees unless your credits below seven
eighty or unless you have less than twenty five percent
equity on a refinance or purchase. There are points that
will come into play. We don't want to be a
bait and switch. And the forty four dollars he's talking
(34:20):
about is that does have an asterisk by it must
have seven eighty middle credit score. About the credit scores
we just talked about TransUnion equofacts and experience, and we're
going to look at your loan two value. Those are
the two top things that we look at to determine cost.
Everybody gets the same rate here, it's just you. If
(34:43):
you have less than twenty five percent equity and you
have less than seven eighty credit score, you still get
the same rate.
Speaker 1 (34:49):
Larry, you just.
Speaker 3 (34:50):
Have to pay an additional fee because of those factors.
Speaker 1 (34:54):
We didn't make them up. Those are Freddie mac Guideline. Yeah,
I'd like to ask those to look into those fees too.
Speaker 3 (35:01):
Yeah, we would love to eliminate the delivery fee system.
Is that was implemented that it was transitory. So and
that's the same reason the Federal Reserve has been resistant
to doing the mortgage backed Security program and lowering mortgage rates.
Speaker 1 (35:15):
They could single handily.
Speaker 3 (35:16):
Do it if if they had the votes to do it,
but they don't, and they keep digging their heels in
the sand about inflation, and that's what's causing rates to
even go up.
Speaker 2 (35:28):
And the thing about it is they're they're they're not
even using the news that we can see that doesn't
show you the fact about what's going on with these
I just.
Speaker 3 (35:34):
Don't understand how the bond trading during this tariff issue
has is any you know, it looks like there's a
lot of money coming into bonds. I just don't understand
why the Feds are allowing rates to go up again
when they can single handily control it.
Speaker 2 (35:49):
Yep, I agree, And it's just there. I think that's
what they called reset. Maybe that's what's gonna have to happen,
and we're gonna, you know, I think that, you know,
we just have to be patient and see what happens.
Speaker 1 (35:59):
Yeah, we don't know.
Speaker 3 (36:01):
But then they throw out the news that they've made
three they're gonna make three cuts this year, and everybody
thinks it's automatically going to magically cause mortgage rates to
go down. They've proven and that's not true, right because
our rates aren't down.
Speaker 1 (36:12):
And if you heard their last.
Speaker 3 (36:13):
Meeting, you know you think, well, you know when they
did lorder the fed fund rate earlier and this last
or later that in the twenty four you know, people
think that that automatically relates to thirty year fixed rate mortgages,
and it don't. It only applies to equity lines, which
relies on the prime index. Give us a call if
you have any questions about what you're going through. It
(36:36):
doesn't hurt to get another opinion, it doesn't cost you anything.
We are common sense people here at Guardian Savings Bank,
and that's how we make our living right.
Speaker 2 (36:46):
And another thing is I tell you what I was
going to point talk about. We'll talk about more of
the next show too. Don't let people pick your closing
attorney for you. I'm seeing all these contracts come in.
We're realtors trying to breck where we're going to close
the loan. It don't let them do that to you.
They do it in Louisville, and we got to try
to get up. If you want to pay three thousand
dollars for closing, that's fine. If you want to pay
two ninety five or the spot.
Speaker 1 (37:08):
And I've been seeing more and more of that. So
if you're out there shop, my brother law knows a
guy act me a title coming. Yeah, well have I
say charge? Yeah, Well here's what we charge. Yeah, what
do you want to do?
Speaker 2 (37:18):
They charted thirty seven hundred, We cost two ninety five?
What do you which one do you want? So just
be aware that for some reason that this I had
it just hit me again where you know people do
that to meanway.
Speaker 1 (37:27):
We hope you've enjoyed the show. We'll be back next Saturday.
Speaker 2 (37:29):
The Cat started today at noon at home playing Texas
over on the baseball field, get over and checking them out.
But we hope everybody stays safe, dry out and we'll
go from there. We'll be back next Saturday. You've been
listen to Welcome Home Show by Guardian Safey's Bank on
news radio. That's right here on stick thirty w l
Ap'll be back next weekend,
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