Welcome Home with Guardian Savings Bank 5-24-25

Episode Transcript

Speaker 1 (00:05):
Hell, ain't liceington here?

Speaker 2 (00:06):
Listen Welcome home show about Guardian Savings Bank. I'm Larry Freaks.
Tim Adams in here with me this Saturday morning as usual.
He's back from his vacation. He's been spend a little
time on the beach. He came back with a little
sand and his feet and on the car and a
little tan and uh, let's stand. I stand to the
umbrellaary do it? You stand in the umbrella? Y SBF.

Speaker 1 (00:27):
I used the bullfrog military grade. Hain't that run? You better?
You like skin like you? Hey? Banks over today from
nine to one.

Speaker 2 (00:34):
Phone numbers eighty five nine eight nine nine nine three
six South and Drives eight five nine two six three
three three three five.

Speaker 1 (00:41):
So if you can hear, you can call us.

Speaker 2 (00:44):
Be glad to help you out with whatever we can
with your real estate needs, purchases, reefinancing, owner occupied non
owner occupied farms, churches, commercial properties. Just give us a call.
We'll see what we can do. We don't do boat loans,
car loans, or note loans. We do service our conventional
That's why our closing costs were as cheap as they are.
And we're glad to be able to help you whenever

(01:05):
we can. Banks open to day from nine to one.
Phone numbers eight five nine, eight nine nine nine three six.
I'm glad to have ten back in and we I
appreciate Jim Woodrom coming last week and hanging out with us.
He's always fun, does a good job. But the market's volatile,
still up and down, and you know, everything we get
going on and start getting a little headwayed and something

(01:26):
in UK happens or they you know, they some news
come out, new bill passes, and every time we do
we get hurt. And they had an auction this week
and sold off a bunch of thirty year mortgages and
then didn't go as well as they decided, and we
got downgraded by Moodies as far as our credit rating
is the United States.

Speaker 1 (01:40):
So if it ain't one thing, that's another.

Speaker 2 (01:42):
But the thing about is Tim, I think people are
starting to figure out that this is where we're going
to be rate wise, and property values are only going up.
So we have a lot of people that we're still
taking getting applications. There's a lot of people buying. You know,
We've done some refinance stuff and got bridge loans, construction loans.

Speaker 1 (01:59):
We're working on.

Speaker 2 (02:00):
So well, the other thing is if you perhaps may
have a home under construction with a builder, and once
that home's finished, you don't have much option to wait
till a rate drop or anything else. So you've got
to go ahead and marry that home, Larry right, and
you know, yeah, and our strategy is to maybe read
the issue with rights to reverse right. I mean, we

(02:22):
want to you know, marry the home and date the loan.
And what's going on is then there's a lot of
people that might might need to move, might want to
move downsize upsides, get closer to work, closer to school.
You know, with the rate that they have on the
current residence, they just don't want to you know, don't
want to get rid of it. And I don't blame them.
That's going on quite a bit. But you know, we're
still getting you know, I think you know, when we
do and I we're talking about last week, people are

(02:43):
making the adjustment to what the rates are. They're not
you know, they're they're settling in and these ain't as
bad as they've ever been, you know, just like you know,
he was talking about his first home last week on
the show, when you know what he and his wife
paid at eighteen percent, you know, when they first bought
their first home. But the homes were or you know,
fifty six thousand value or whatever, thirty whatever.

Speaker 1 (03:02):
You know, things have changed in that time.

Speaker 2 (03:04):
And I don't know, you know, we talk about this
all the time. We had a good idea what was
going on with the cost of money, and we can
help people predict, but Pinky, I don't know what information's
out here that we can count our you know, chickens with,
you know, and hang our hand every day, changing every day.

Speaker 1 (03:22):
Yep.

Speaker 2 (03:23):
Of course, if you see the news, you know that
terror's been an issue, and I supposedly he's you know,
he's get some deals done and maybe that'll help on
that front. But I want to take one moment, Larry
right now to give our condulences to the folks down
in the Somerset, London area that were hard hit with

(03:44):
the tornado on Friday last Friday night.

Speaker 1 (03:46):
Yep.

Speaker 2 (03:47):
And I know as the found the Real Community Housing
Foundation has sent funds down to help some of those
folks and loves kicks in and it's it's pretty I've
been down there and it's just very devastating and it
just seems like that. We keep having to to encounter
these top weather events, whether it be in Dawson Springs

(04:09):
or eastern Kentucky. And now this tornado that was on
the ground for fifty six miles approximate a mile wide.

Speaker 1 (04:16):
They said there was two of them back to back.

Speaker 2 (04:18):
And you know, well Saint Louis, that had to be
a different system. But in this case, this is in
our backyard, and this is down in Somerset and London.
And I know the Shepherds reached Shepherd's family North Laurel
High School basketball. It's amazing to see the neighbors that
come to help their neighbors. And I agree with you, Tim,

(04:40):
And there's a lot of donations being taken in a
lot it's being accepted.

Speaker 1 (04:44):
You know, it's just a it's a critical.

Speaker 2 (04:47):
Event and a time and people that have you know,
I saw guy on there some information for men been
in the same house, same neighborhood for fifty years, gone,
just wiped out. You know, they can rebuild, and they will,
but you know that ain't gonna be easy, especially.

Speaker 1 (05:01):
With the cost of goods right now, you know, I mean,
here we go again.

Speaker 2 (05:04):
How do you think you know, it's just it's gonna
be gonna be rebuilding, a lot of stuff going on.
But uh, anyway, Tuesday, Tim, you and I've got tickets
to go to the Virginia down in Somerset where Sunday
Best and Jordan Allen and Hunter Flynn and some people
are putting on a little show down there. They're going
to be a fundraiser, little benefit concert, and you and
I are. We've got us some tickets, so we're gonna

(05:25):
make our way down to Somerset and support that, see
some good music and some good friends. And we'll take
some stuff with us.

Speaker 1 (05:32):
We'll take some tarps and blankets and what or else.

Speaker 2 (05:34):
We can fit in the vehicle, and we'll find a
place to drop them off along the way, some staples,
you know, just things some people can use.

Speaker 1 (05:40):
You probably need to dip into your safe and get
some of my cash.

Speaker 2 (05:43):
Well, I don't keep it in the safe. I keep
it here at the bank. I don't want some I
don't want to lose it all in a tornado or
a fire or somewhere robbing me. That's why I have
the money in the bank. I used to keep want
of cash around the house, and you can't protect it
against some stuff though it was a Joe Larry.

Speaker 1 (05:58):
I know, Tim, but that is a true story. Though.

Speaker 2 (06:01):
You know, I used to keep a lot of cash
around the house and some people do, Angela, if you
had there's a fire, a tornado, or somebody breaks in
your house, you have no protection.

Speaker 1 (06:10):
We can insure it up to this, you know.

Speaker 2 (06:11):
And she was right, and I was like, I just
I do keep some and I try to have some
accessible because you know, I happen to be over in
the North Carolina area when that last hurricane hit, and
when the power goes out, there ain't no ATMs, there
ain't no fuel, there ain't nothing. Cash is king and
and be more than what I want to have is cash.

(06:32):
I'd like to have some two way walkie talkies and
some atlas because you can't get nothing, and so it's
it's pretty crazy how that stuff shakes down. So just
remember those folks, and if find a way, if you
want to give research and find somebody where the money
really goes in, I mean, help the people. I'm just
gonna call the Space of Spade. Don't donate that, you know,

(06:54):
I ain't donating to the Red Cross. I mean, you
see how much money go to the Red Cross. How
much people comes up to help, and they're just you know,
some of the trials and tribulations of issues with the
way that you know, Western Kentucky was handled, Eastern Kentucky handled.

Speaker 1 (07:06):
I mean, it ain't easy to get them to help
do anything.

Speaker 2 (07:08):
And but anyway, just make sure you're you know, we
like to give a dollar and get and have somebody
whoever give it to give out a dollar.

Speaker 1 (07:15):
And that's to me the way it should be.

Speaker 2 (07:17):
And I know there's some time and effort put into it,
but a donation is a donation, you know, and that's
what we want to look at and try to do. So,
you know, Tim, that's a good point. And you know,
everybody knows somebody from that area. If you're from Kentucky,
you know somebody. You know when you reach Efpro down
and Pope down there, there's all kinds of people. My
boys from a day's sober, you know, they're down there.
They're families down there, they're getting stuff done to people

(07:38):
at Austin City, Corbin. They'll be helping however they can
down there. You know. Uh, it's just a devastating event
and just you know, the midnight you know, just something
that nobody expects and wants to deal with. But it's happened.
We'll try to help them rebuild, try to help them recoup.
We'll do whatever we can, and we're just we're ready

(08:00):
to help in The River Community Housing Foundation has already
made some commitments and getting some money where it needs
to be, and we always appreciate that part. They're good
about that, and you know, we'll just do what you
got to do. We had a heck, we had our
golf outing ranged out this week tim that we were
using to raise money to build wheelchair ramps, and that's
been moved to July eighth, So if you wanted to

(08:21):
participate in the River Community Housing Foundation golf outing out
there that we talked about on the radio for a
while at Currenty, we moved that to July eighth because.

Speaker 1 (08:29):
Of the weather this week.

Speaker 2 (08:30):
And early on I was thinking, man, I don't know,
we could probably get this in, but by the time
that thing would have been hot and heavy, people about
halfway through it.

Speaker 1 (08:37):
Oh my, So it's.

Speaker 2 (08:42):
You know, it got crazy, the weather got prad I
think you grow up here through it, didn't you. And
from as absolutely I saw the devastation in the neighborhood
there right off to the interstate. And what was odd
to me they talked about the path of the storm
that was spawned in Rustled Springs. But Larry, we were
as we drove up the interstate, saw all the devastation

(09:03):
on the left hand side. There was no damage on
the right side of the interstate. So that tells me
it just just that's where it just ended.

Speaker 1 (09:13):
Well from the.

Speaker 2 (09:14):
Away, yeah, because there wasn't a lot of damage across
the interstate. But I jumped it jumped at Cumberland twice
in the path and they're right near Lee's Ford, Marinas.
But it's just a lot of these people, you know
that they should have magistrates in their communities, and they're
not getting the help from the counties.

Speaker 1 (09:33):
And and that's going to take one of the counties.
I meant.

Speaker 2 (09:38):
But I had a friend that took them seven hours
to clear uh a path for a road to get
a lot of the residents to be able to get
out yea. And so it was a monumental effort. But
there was a FEMA, wasn't there. It was all the
uh you know, the good hearted people that live in there,
and they brought chainsaws, and they brought skinners and they

(10:00):
out to work and to get those people out of
there so they could get access to food and water.

Speaker 1 (10:05):
You know.

Speaker 2 (10:06):
And that's what it's going to take. And it's you
know that the same thing happened to North Carolina. People
start doing their own roads, start doing their own thing.
They won't wait for all these people to come in
because it's it's just too tough and too long to
count on some of those people. And but the communities
will stand up and they'll stand together. And Kentucky's done
it for the last couple of years. And we've just
had some crazy weather patterns. Arkansas had some crazy weather patterns.
But I want to give you know, I'm here to

(10:27):
help the people that I live with and in Sport,
and that I know a lot of people down around London,
and I'm not familiar with anybody that that's passed away,
but I know a lot of people are dealing with that.
And I have someone that passed away just right near
my family farm down there of your you know, went
to high school with her, and uh, that's very shame.

(10:47):
Her husband was in the basement and somehow she went
upstairs and the rest is history. So I don't know
exactly what happened, but it's just tragic, uh that there's
twenty twenty lives lost in.

Speaker 1 (11:03):
London that the war.

Speaker 2 (11:05):
Yeah, So anyway, just to find if you want to give,
please reach out to someone down in Somerset. I know
the FFA, the Future Farmers of America. Uh, And I'm
sure if you call around you can find out where
to give.

Speaker 1 (11:22):
Yeah.

Speaker 2 (11:23):
Hey, we're going to take our first break of the day.
Banks Open the day from nine to one. Phone numbers
eight five, nine, eight nine nine one nine three six
South and Drives eight five nine two six three three
three three five.

Speaker 1 (11:34):
If you can hear, you can call us.

Speaker 2 (11:35):
We talk a little bit about the economy and some
of the other stuff going on. But Tim makes a
great point on stepping up and helping our friends down
the road if we can, if you haven't already, do
what you can to help them.

Speaker 1 (11:44):
So we're going to take a break.

Speaker 2 (11:46):
Your listen to Welcome Home Show Open the day from
nine to one on numbers eight five, nine, eight ninety
nine one, nine three six. Let's just on news Radio
six thirty. That's w lav be right back, get back.
Let's to welcome home show by Guardian Sami's Banks Larry Breaks.

Speaker 1 (11:59):
Tim Adams in here this Saturday morning.

Speaker 2 (12:01):
We glad to have you tuned into us. The bank
is opening day from nine to one. One number's eight
five nine eight nine nine one nine three six.

Speaker 1 (12:09):
You can hear she can.

Speaker 2 (12:10):
Call South of Drives eight five nine two six three
three three three five, Jamie Mortimer, Aeron O'Brien, Alex Malani,
Jim McKenzie over there. So if you've dealt with them
in the past, just give them a call and they'll
be able to help you out. Bank is going to
be closed Monday. So now that doesn't mean Tim and
I won't be hanging out around here, possibly taking some
phone calls. I don't know.

Speaker 1 (12:29):
We may be at the pool having a COLDI but
we'll see if you can give us a call.

Speaker 2 (12:33):
If you have something on your mind and he's a
good day for you to do it, you're not at work,
we'll take a call.

Speaker 1 (12:38):
Yeah, yeah, but we'll talk a little bit about these bonds.

Speaker 2 (12:42):
And you know our guy John Schmid, who's been on
the show with us, he'd send an email out.

Speaker 1 (12:46):
He said.

Speaker 2 (12:46):
Bonds continue to struggle with the global bond weakness and
inflation fears over the possible passing of the.

Speaker 1 (12:52):
Big Beautiful Bill, which I believe passed on one boat.

Speaker 2 (12:54):
The bill is being reported to add to the country's depths,
that spending so could cause further pressure on treasuries and
the vehicle used to borrow the money needed. Initial job
claim show two or twenty seven new claims last week,
a decrease from the previous week. However, continuing claims continue
to rise after worsening on a week twenty year T
bill auction yesterday, which would have been Wednesday.

Speaker 1 (13:15):
I guess this is from Thursday.

Speaker 2 (13:17):
There's another one here to n NBS is another five
basis points worse in the morning trading the ten years
flat on the day after rising to four point five
eight yesterday. So all of these things that come out
just our knee jerk reaction. I don't care what it is.
You know, the bond market and then the cost of money.
I mean, we have to pay we have to pay
our debt at the cost of this money as well,

(13:38):
you know, but if you boil it down, it's still
uncertainty is the driving force. There's no certainty or there's
no certainty that will live another day. But there's certainly
a lot of uncertainty and where we're going with this economy. Well,
and the thing about it is and woody nail that
people are now being you know, they're used to seeing
these rates now they know they're not going to become

(14:00):
down anytime soon. And that's why we've been saying, marry
the home and date the loan. So if you're interested
in buying, let's see what you qualify for. Let's get
going on, and then we can refinance when rates come down.
It's like what nine hundred and fifty eight bucks or
something for reefinance. It is for a simple rate and
term reefinants with a seven to eighty credit score. And
if you've got twenty five percent equity in your home,
like we've talked about, there are people out here with

(14:21):
eight percent interest rates. Why not go ahead and pull
the trigger down and start saving you know, Yeah, two
or three hundred dollars a month. Uh, and with our
cost can do it again. Yeah you need a further
first payment. Yeah, you're basically getting your money back immediately
and let the savings begin. But we truly believe that
rachel you know, eventually work their way down because I

(14:44):
was on the phone with the first time buyer this
week and he's like, ribman, you know, and this is.

Speaker 1 (14:49):
A problem across the country.

Speaker 2 (14:51):
He just and he makes it pretty you know, twenty
eight dollars an hour and he that's seven in a quarter.

Speaker 1 (14:59):
He can't.

Speaker 2 (15:00):
It just doesn't work. So he's going to have to
wait because he can't qualify. And I told him, I said, well,
maybe this, you know, you need to He says, I
don't get I hadn't been get much over time, but
I will here in the next few months, and my
income's going to get better. But it's still a problem
for some buyers that can't that have to wait. Yeah,
and you know we still have the FHA and B

(15:20):
and all the other programs as well, and those rates
are a little different. But look, you need to let
us get you qualified and go from there so that
you can see and if it if it works at
whatever price range, that's that's perfect. If there's you know,
if the rates go down, your buying power goes up.
And a lot of people and tell him all the time,
they're waiting for the rate to go down. I said,
while you're waiting the property values going up, you know,

(15:41):
where's the rubber meet the road on it? But I
think we should settle in about five percent at some point, Tim,
don't you think that? Well, you know it's hard for
us to say, but you know, certainly I think that.
And if you are trying to get into a new
school district or whatever your need is, you're not going
to be able to wait because those homes are going
to go up in price when the race come down.

(16:02):
There's going to be more competition, as we talk often about.

Speaker 1 (16:05):
Yeah, as far as buying the home.

Speaker 2 (16:07):
The more the lower the rate goes, more people qualify,
Like you've got twenty eight bucks an hour, and rates
go down, he gets in the game. You know, somebody
that's you know, somebody's that it might be at thirty
two dollars an Now they're already in the game. But
when he when it goes down, and then he gets
in the game. And then if it goes down a
little bit, more than people that are, you know, maybe
a little less than that get in the game. So
one of those things you just have to keep an
eye on. But you know, let's get you qualified, Let's

(16:28):
get a plan, let's get a vision, let's find out
what we can do when we can do it.

Speaker 1 (16:32):
We got, like I say, fha.

Speaker 2 (16:33):
B a USDA Community home buyer. We got several different
loans here with three percent down USDA's hundred percent financing.
You know, it's it's a little different loan for us.
We don't service at the end. Closing costs are different.
But you know, if you don't ask, you don't know.
But if you're paying rent to something you're never going
to own, and you want to keep doing that, so
be it. If you want to have something you can

(16:54):
invest in that's going to appreciate value and you're going
to pay down, create equity instigated savings account, I like
to say, hey, then you know we're going to help
you do that.

Speaker 1 (17:01):
So we're going to take our second.

Speaker 2 (17:04):
Break of the day, and I want to tell you
the bank is open to day from nine to one.
Phone numbers eight five, nine, eight nine, nine, one nine
three six South and drives eight five nine two six
three three three three five, So if you can hear,
you can call us.

Speaker 1 (17:17):
We'll be glad to talk to you.

Speaker 2 (17:18):
Bank's going to be closed Monday, but Tim and I'll
be around. You want to give us a call, we'll
be glad to chat with you and if you got
the day off, be a good time to do it.
So you are listen a Welcome Home Show by Guardian
Savings Bank.

Speaker 1 (17:29):
Listen to us on news Radio six thirty. Tell you lap, We'll.

Speaker 2 (17:34):
Be right back yet back. Let's to Welcome Home Show
by Guardian Savings Bank. Larry Phrase, Tim Adams in here
this Saturday. We're glad to have you tuned into us.
The bank is open to day from nine to one.
Phone numbers eight five, nine, eight nine nine one nine
three six Southam drives eight five nine two six three
three three three five. So if you can hear you

(17:55):
can call us. Be glad to talk to you and
see what we can get you qualified for. But we've
been doing a lot of different loans. Him and I
talking about construction loans, bridge loans, refinancedruction purchases, construction, the perm.

Speaker 1 (18:08):
Out of divorces.

Speaker 2 (18:09):
We know, yeah, I mean that's you know, a divorce
situation and that's it happens. Well, you know, But do
you want to lose a bunch of the equity and
closing costs or you want to come in here and
let us do it for reasonable fee and get it
handled and a lot of people, you know, and what
he not talked about this, and Tim, I thank you,
and I talked about before.

Speaker 1 (18:25):
You went on vacation.

Speaker 2 (18:27):
If you have a pre approval letter from someplace, it
doesn't mean until you sign them loan documents. It doesn't
mean that's where you have to do business, shopping round
and get three quotes. It's amazing to me, the difference
in closing costs and Tim, you know what you were
just talking about some I had ten thousand dollars in
closing costs on a particular gig, you know.

Speaker 1 (18:45):
And then the trick is is no out of pocket.
We'll tell you no out of pocket.

Speaker 2 (18:48):
You're fifteen thousand dollars more than what yo, so you
don't have anything out of pocket. Or you can have
nine hundred and fifty eight dollars in closing cost if
you qualify.

Speaker 1 (18:56):
Let's let's push that a little further on this, the
one you're talking about.

Speaker 2 (19:00):
Uh, you know, and I don't, And I didn't see
the actual fee sheet from the other lender, but you
know part of your closing you know, that's where the
misnomer is. There are closing costs and there are prepaids
for escros. That's gonna be the same wherever you go
to set up your escros for property taxes and insurance.
And good point in this case, they he was doing
a buydown, so he was they were taking third note

(19:22):
rate at the time of seven a quarter. They're going
to take him to six and a half. But we
don't believe that you should buy down a rate right now.

Speaker 1 (19:30):
We should.

Speaker 2 (19:31):
We think you should just wait it out and then
go ahead and take the rate without paying a whole
bunch of money to get a lower rate, because we
believe they're going to go lower, right and you would
refinance with the Guardian Savings Bank for the nine hundred
and twenty five dollars and if you're going because I'm
sure there was probably three or four three thousand dollars
in the upfront fees from the bar to buy the

(19:53):
rate now, and that is cash out of his pocket
to bring to the table. Well, what I like to
do is him I like to do the math on
on helping people out. You know, some of these sellers
out here are willing to help with you in closing costs,
prepaids or what have you. And what I'd like to
see is is you some that money to possibly buy
the ratedown. If somebody needs to qualify, sure, you know,
we can buy the rate down and it makes sense

(20:14):
versus using the money and closing costs. Why not, you know,
And and the seller still gets the house sold the
persons and save a ton of money over the length
and aloan regardless how long they keep it with the
buy down. And you know, we just in the size
the lung is going to depend the cost of it.
But if a seller is willing to pay three percent
towards closing costs or prepaids, man, hey, let's see how

(20:35):
much of that rate we can buy down. You know,
let's see how much we can help this person and
how much we can save them if they if they
never refinance. And you know, at the time, you know,
our rate off the sheet was six point eight seven
five and when I ran the numbers, you know what,
the difference in the payment was forty nine dollars. So
there's a lot of ways to skin a cat.

Speaker 1 (20:55):
But I love my cat. By the way of it, anyway,
I shouldn't say that.

Speaker 2 (21:00):
And uh, just call and it's you know, I had
a first time or he's thirty four years old, and
you know, and he just you know, I've never we
never studied this in school. There's no curriculum to expose
kids to you know, mortgage, you know, and buy the home. Absolutely,

(21:21):
there's nothing to and that's why we hope that the
show does help in some ways. It's the three seeds, credit, capacity,
and collateral. We're gonna see what you can afford. We're
gonna see your pay history, and we're gonna verify what
your mind is worth, what you're willing to pay for.
Right So, I was gonna try to run some numbers here,
tim on a on just a difference in rate of
a half a point or something on a on a
on a loan, and see if we could put something

(21:43):
together here and then uh go from there. But we have,
you know, several different plans, you know, as little as
three and a half percent down, some with one hundred
percent financing with the USDA deal. But I was gonna
look here and see to him if you want to
talk about how the bridgelong works, and I'll punch some
numbers in here and see what we can do. And

(22:06):
I'll figure out a difference in rate of a half
a point if that's what somebody's gonna buy it down
on a on a let's say it, what a three
hundred thousand dollars loan, three hundred thousand dollars thirty years,
seven percent nineteen ninety five ninety one, nineteen ninety five,
ninety one. That's not included taxes an insurer. So all right, now,

(22:28):
let me go to me and tell me and I
have to do math today, Larry, I'm gonna do it
for you. You just keep the show going. So I go
to the Truth and Lending. I'm gonna look at what
our amortization skills. It says, bottom line, would you rather
pay three or four thousand dollars up front or just
forty nine dollars a month and not you not have
to spend your whole three or four thousand right and

(22:49):
pay us incrementally over time. And when the rates come down,
you're giving Tim Adams or Larry Frexy call and say, hey,
what's your rate today?

Speaker 1 (22:56):
Will five point five? Wow?

Speaker 2 (22:58):
Closing costs nine Wow. You've saved yourself, you know, probably
a few thousand dollars by using that strategy. But once again,
there's a lot of uncertainty out there, and the bed,
the Federal Reserve has not been too keen to lower
the Fed fundrate, which translates down into different forms of

(23:19):
credit like credit cards and car payments, and it will
affect mortgage rates at some point in time.

Speaker 1 (23:27):
Uh.

Speaker 2 (23:28):
But that's the Federal Reserve, and they're the Central Bank,
and they're the they're a big, they're the largest. You know,
they're they're worldwide now, right, So it's just hard. You know,
you're when you talk about the economy, you're talking about
a worldwide economy.

Speaker 1 (23:42):
Uh. And on a lot of different fronts. Uh.

Speaker 2 (23:46):
You talk about the trade deficit and you know, the
commodities that we import that maybe we can.

Speaker 1 (23:53):
Start manufacturing here.

Speaker 2 (23:55):
And I think that's part of the goal of this administration,
is to bring manufacturing back to United States and make products.

Speaker 1 (24:01):
Here and hopefully we can compete on the world stage.

Speaker 2 (24:04):
Right, Larry, Absolutely, And I think that that's what will
happen eventually. I mean, you know, we've let a lot
of things get away from us. I don't know exactly
how or why, but we've got to change something. And
you know, there's nothing everybody's always in fear of change.
I don't care if you're on your job or you're
you know, uh, your car, you know.

Speaker 1 (24:20):
Whatever it is. I mean, there's changes that happen in.

Speaker 2 (24:22):
Life that people aren't comfortable with, and I get it,
but I mean some of these things we just kind
of have to wait and see how much that the uh,
you know change is going to help us. But you know,
just get do some things some time. I don't agree
with everything that's going on, but I'm not afraid of
trying it because we're all in it together. You know,
some people are gonna pick apart everything the other person

(24:43):
does if it's good for us or not. And that's
what happens out here on these big jobs. But it's
one of those things that you don't just have to
keep an eye on and you know, see how it
shakes down. But like I say, every bit of news
that comes out here, somebody's got something bad to say
about it before they even know if it's going to.

Speaker 1 (25:01):
Work or not.

Speaker 2 (25:01):
It's right And if you've built a lot of equity
in your home that you're living in and you're thinking
about maybe building a home or buy a new home,
we might be able to do what we call the
blanket and go ahead with no contingencies to buy the
new home and then when you sell your other home,
you'll come in and reduce your mortgage foot print. And
it's a little more complicated than we can talk about
on the show today. That's why we encourage you to

(25:24):
call and talk to us. There's no obligation, there's no
high pressure. I think of myself, Larry, as a you know,
try to be an educator to folks to have to
you know, then like them and give them the kind
of lead of the land. Let them make the decisions based
on that.

Speaker 1 (25:42):
Ye. So this is the deal.

Speaker 2 (25:43):
You got a three hundred thousand dollars mortgage at seven percent.
The payment is nineteen ninety five ninety one. You buy
that rate down to six and a half percent, takes
the rate down to eighteen ninety six twenty. That's a
that's one hundred dollars ninety nine dollars and seventy one
cent change, all right. The interest that you pay over
the life along the difference, and that's thirty.

Speaker 1 (26:04):
And eighty eight dollars. All right.

Speaker 2 (26:06):
So go back in here to our handy dandy notebook
and wet's see how much it would cost on a
three hundred thousand dollars loan to buy that rate down
according to our rule book today. And see where the
rubber meets the road with that. And that's really what
you got to talk about a lot of people. This
will be one of those things that you're just like
and ose are traditionally called points yep, when you're buying
a rate down, and but that there's a cost. It's

(26:30):
a percentage of your loan and that can be a
big number. And it is that pruded to do seventy
five hundred dollars, Yeah, what it would cost to buy
it down. Yeah, so you're saving a hundred dollars a month.
So if you say that, naturally you've loan seventy five
hundred dollar yep. Thirty five hundred and eighty eight bucks. Yeah,

(26:53):
is what you'd save in financial chargers if you don't
do it. So there is you know, but doesn't make
them qualified? Is that one hundred dollars a month to
help them fire?

Speaker 1 (27:00):
Doesn't? It could?

Speaker 2 (27:01):
It's up sometimes the sellers are willing to pay one,
two or three percent towards closing costs or prepage. I
just think there's some scenarios where you might use that
to your advantage to there and there is no one
size fits all. Every client that comes in our door
is a unique situation. Every time. This is in a
cookie cutter system. Oh absolutely, And that's a great point.

(27:22):
But I like, you know, kind of you know, the
premise of this is this call, get pre qualified. Let's
see where you're at, what's going on today, and then
we can build on it from there. If we've got
a plan in place and your shopping, that's a good deal.
If rates go down, you can buy more. If they
go up, we need to refigure and see exactly where
you stand. But they're just the houses are not depreciating.
Whatever the price is today, it's going to be more tomorrow.

Speaker 1 (27:42):
They're not making any more land, you know, so that
will end.

Speaker 2 (27:45):
And some of these lenders are intimidating to customers, and
we don't want to be that way. We want to
be your friend on the phone, and we want to
give you solid advice, whether we get the loan or not.
Uh well, at least tell you what we can do
and how we want you know, what we feel your
specific situation. That's very valuable and I think that that's
the way it should be. Oh, I like to tell people,
don't get you Some other quotes I know what we

(28:07):
have to offer. Ours is best or we're gonna give
you the best and final offer right off the top,
and tim you know that a lot of people that
then when they come to us and they get something
better and they take them back to that other person,
they say, well, we can do that. Well, why didn't
you offer that to begin with? Right, We've been through that.
But the bottom line also is the difference. Like I said,
closing costs are a different part of the settlement statement.

Speaker 1 (28:30):
S groves for property, taxes and.

Speaker 2 (28:32):
Insurance are going to be the same. Wherever you get
your loan, you've got to be able to compartmentalize that
loan estimate to know what's a closing costs and what
is called a prepaid which equals the total settlement charges.
But it seems like these lenders all want to just
throw it all in one bucket and call them closing costs.

(28:54):
But that's not the way I think of it, because
I know that prepaids for taxes and insurance are are
given and with twenty percent down you don't have to
as scroll here, and that takes it completely out of
the mix. Uh, And so then we're gonna look at
just what the closing costs are, and that typically is
an appraisal and the title exam and a the doc

(29:15):
prep man somebody with you and help them close you
along underwriting all that. We don't charge an additional underwriting fee.
We don't charge lenders title insurance. So that you know
we we harp on this every week and I know
it probably gets old to a lot of our regular listeners,
but if you're listening for the first time, you owe
it to yourself to call Guarding Savings Bank because we

(29:37):
are We are just a different type of lending operation.
Be local, buy local, and stay local because that's what
we're doing, right.

Speaker 1 (29:46):
So that's uh, I'm good guys.

Speaker 2 (29:48):
Yeah, Well, if we live here, we're gonna see this
and we we get stuff up going on, we're gonna
take another break. Banks over Day from nine to one.
Bone numbers eighty five nine, eight nine six, South and
Drive I was eight five nine two six three three
three three five.

Speaker 1 (30:02):
If you can hear what, you can call us.

Speaker 2 (30:04):
Your list of Welcome Home Show by Guardian Savings Bank
on Who's.

Speaker 1 (30:06):
Radio sext thirty w LAP. We'll be right back.

Speaker 2 (30:10):
You're back lists to Welcome Home Show about Guardian Savings
Bank open the day from nine to one Memorial Day
weekends upon us the bank will be closed Monday. Let's
not forget what this weekend is all about. Jachy Frank, Sister,
God bless America and God bless our troops out there
fighting for us right now on around the world, and
all of our veterans. If you see one this weekend

(30:34):
saluting thanking her him.

Speaker 1 (30:39):
Great point.

Speaker 2 (30:40):
I mean, we we we have a lot of friends
that have served in some capacity. I know a lot
of people with family members that serve capacity. The Lord
that works here sons in there. And then you know,
you've got friends. I've got friends, And there's a lot
of sacrifices made on a daily basis and in people's
lives to will protect us and make our freedoms what
they are. And we've appreciate it and respect that, and

(31:01):
we hope everybody this weekend takes time to reflect on that.

Speaker 1 (31:05):
And you know, we we get it. Man.

Speaker 2 (31:08):
It's just something when I grew up, it wasn't something
that wasn't the draft. We didn't have all that stuff,
you know, and it's you know, it was a lucky
time force. But there's people that you know, get out
and that's what they do and and we appreciate it.
It's just well, the sacrifices that have been made over
the one hundred years are while we are such a

(31:29):
successful country today and we need to continue to be
that way, and we need to make sure that, you know,
we're taking the best care of our troops and the
people that we can. And hopefully some of the money
that they think that they're finding and saving we can
dedicate to these veterans and the facilities and the stuff
that they need. Because we spend a lot of money
to other places that seems like there's a lot of
it being kicked.

Speaker 1 (31:47):
Back for different reasons.

Speaker 2 (31:48):
But I'd rather the veterans have it if anybody's going
to get it, the people that.

Speaker 1 (31:51):
Have sacrificed so much force.

Speaker 2 (31:52):
But if you can find a way to help the
tornado of victims down in Somerset and London area, they've
been hit very, very very hard and they're going to
have a long way to go to get back to
normality and it's going to take a teamwork effort. Teamwork
makes the dream work, as they say, So anything you
can help, please do. If you if you can get

(32:13):
a hold of somebody down there, maybe ask and see
what they need. You know, I've heard times where people say, man,
we've got seventeen million tarps and we can't use any
more of those, but we need buckets, we need we
need brooms, we need wind decks.

Speaker 1 (32:25):
You know who knows what I mean? So just you
know what to do without your Starbucks and send ten bucks?

Speaker 2 (32:30):
Yeah, yeah, you know I mean, And that's what it takes.
And I think that's what you know, a lot of
people will do. And like I said, Tim, you and
I'll be down there in Somerset at the Virginia Theater
and we'll check out Sunday Best and Jordan and Linton
Hunter Flynn and and uh the other artists down there
and uh Leslie Lewis. I think it's or I can't

(32:52):
remember what. I don't have a thing in front of
you right now. After there's some good artists down there. Yeah,
but it's a couple of hours show. But you know,
Chris and and Nick Damerson there, they'll put on a
good show down with Sunday Best. There are always a
big drawing and they're good people, man, it is, And
that's a great that's a great venue down there. They've
spent a lot of money to restore the Virginia Cinemas
in Somerset and come to listen to the show and

(33:15):
but also have a heart for giving to the cause.
Are you going to get out to the pool this weekend?
And what are you going to You just got back
from the looking a little.

Speaker 1 (33:23):
Chilli this weekend. Uh so, I don't know about that.

Speaker 2 (33:26):
We may just be decompressing this weekend because it's been
a whirlwind nine days.

Speaker 1 (33:34):
Yeah, well it's nothing wrong with that.

Speaker 2 (33:36):
Well, we hope you've enjoyed the show today, and we
hope everybody has a good weekend.

Speaker 1 (33:40):
Be safe.

Speaker 2 (33:41):
If you're out here traveling, you don't get your ubers
or designated drivers, be safe, watch people walking around. The
weather's gonna be a little crazy tomorrow, it seems like.
But Monday we should be all right. But we hope
everybody has a good weekend. If you're out traveling, be safe.
Summers starting schools out all kinds of new traffic patterns
and people running around, So just be aware of that
left lane is used for passing for the Ohio drivers

(34:02):
on seventy five.

Speaker 1 (34:02):
That's what we do.

Speaker 2 (34:03):
Here, and we use our blinkers and we turn off
our bright lives at night. So anyway, I just want
to throw that out there as we get into a
big travel weekend. We hope you've enjoyed the show. The
bank is open today from nine to one. Fu Them
is eight five nine, eight ninety nine one nine three
six after drives eight five nine two six three three
three three five.

Speaker 1 (34:20):
So if you can hear so, you can call us.

Speaker 2 (34:22):
You've been listen to Welcome Home Show by Guardian and
Save Me Some Bank on news Radio six thirty eight
w LAP.

Speaker 1 (34:28):
We'll be back next Saturday. God bless our troops