Welcome Home with Guardian Savings Bank 8-23-25

Episode Transcript

Speaker 1 (00:11):
Good morning, WAXI to your listen to the Welcome Home
Show by Guardian Savings Bank. Glad to have you tuned
into us. The banks open a day from.

Speaker 2 (00:19):
Nine to one.

Speaker 1 (00:20):
Phone number is eight five nine, eight nine nine one,
nine three six here in Hamburg Falp and drive the
phone numbers eight five nine two six three three three
three five, so if you can hear, you could call us.
Been talking on the radio here a little bit the
last couple of weeks about credit, about the rates and
a few different things.

Speaker 2 (00:38):
And what's going on in the economy and if they're
going to lower.

Speaker 1 (00:41):
The prime or what's going on. And the main thing
is is we're trying to get people to realize that
we're at six and a half percent on a thirty,
and we're five point seventy five on a fifteen, and
there's many people over the last three and a half
for years or so that are paying well above seven percent,
and over the last couple of years with appreciation of houses,

(01:02):
especially in central Kentucky area, which is a little better
than most you know, it would be proven to give
us a call over here eight five nine, eight nine
nine nine three six, ask for be your ten and
say Hey, run some numbers, let me see how much
money I can save, and we'll put something together for
you see if it makes sense or not. But some
of these people, I think FIM might full around, get
out of mortgage insurance or something else along the line,

(01:24):
if they'll just give us a call and give us
a chance to take a look at it.

Speaker 3 (01:27):
Absolutely, six and a half is a great rate if
you look back over the last couple of years.

Speaker 1 (01:32):
And like you said, there's.

Speaker 3 (01:33):
A lot of folks out there that are seven plus.
I've even seen a and they get the call and
run the numbers, and the break even is virtually instantly
with our low closing call. So moving your home for
a while, it's you know, it's like your you're rebouncing
your mortgage a little bit. As you discuss all the time,

(01:57):
you know, we can customize the term to so you
benefit from the years you've been in. Maybe a thirty
year fix that we don't have to go back all
away to thirty.

Speaker 4 (02:06):
We can reduce that any amount of.

Speaker 3 (02:09):
Time between thirty and the lowest will do one as ten.

Speaker 1 (02:13):
And it's one of those things that if they've been
in it three years, we can do it on twenty
seven years is what you're saying. If they've been into
eighteen months, we can do twenty eight and a half years.
I mean, we service a loan, so we have that option.
I'm not sure if any other lenders out here. So
basically my thought on that is is, if you're comfortable
with the payment you're making and we can lower the rate,
you want to keep making that same payment, we'll see

(02:34):
how many months we can knock off your mortgage to
keep everything in shape. And then, you know, keep your
head in the right direction so you're not starting over
unless it's going to be your forever home.

Speaker 2 (02:45):
And then you know, maybe the cash.

Speaker 1 (02:46):
Flow will help you, and then you know the payment
reduction would be something that will benefit you in another way.
But there's just several different ways to look at it,
and that's what we try to do. If it doesn't
make sense, ten people around here that know us and
well enough that they're not gonna let us do it anyway,
they have to check some balances and our closing costs.
You know, it's at seventy five percent loan. The value

(03:07):
in a seven eighty credit scores nine hundred and forty
eight bucks. I think so as you said, it doesn't
take two off alone to see the benefit and to
break even for your closing costs and start saving yourself
some money the old and you just got to have
a one percent rate drop to consider a REFINANCI. Yeah,
if you're paying fifteen thousand dollars in closing cost I'd
probably be looking for that too. But if it's nine
hundred and forty eight dollars in closing costs and that

(03:28):
doesn't include your ass gros, then I would be calling say, boys,
I'm a seven in a quarter, you're six and a half.
This is my balance. Can you run a payment for me? Oh,
I can save two hundred and sixty two dollars a month.
You know, by the time maybe if they got mortgage insurance,
we might get rid of that. And you once you
get the paperwork out and you start looking at insurance,
you might have a better deal.

Speaker 2 (03:45):
On that, you know.

Speaker 1 (03:47):
And it's just you got to have the conversation and
you know, we've done this long enough.

Speaker 2 (03:51):
It won't take us too off.

Speaker 1 (03:52):
Alone to figure out what is gonna benefit your how
it's gonna benefit you, and we can explain that to
you and then you know, that's how much you know
how much time you want to spend paying what you're paying.
And Tim, we what we saw about time people drive
all the way across town save a fifty cents on
a gallon of meal. Yeah, but they won't pull the
mortgage out and go from seven and a quarter to
six and a half and save that money on interest.

(04:12):
And most people the way they have the taxes set
up now, they do that one lump sum right off.
They don't write off all the interests like they used
to some people do, you know. So you know, a
penny saved is a penny earned in my opinion, And
just have to call us.

Speaker 2 (04:27):
And let us know.

Speaker 1 (04:27):
And it's what a ten minute conversation, you know, Tim
or one just depends on you know, how heat you go.
But it won't take two off along to run some numbers.
And you could call me on my cell phone if
you want to. I don't run them for you anytime,
but you know, call a branch or my cell phone
eight five nine three two one four three nine three.

Speaker 2 (04:44):
I got a calculated right on my phone right and
or mobile. Yeah, you do the same thing.

Speaker 1 (04:52):
So but it's just call me because we are I
think we've probably got maybe one hundred and some odd
files and sess right now in the branch. And you know,
business is picking up. People are taking a hold of
what's going on, and if we can just figure out
what's going on with the economy and legitimate terms.

Speaker 2 (05:11):
I know there's a lot of you know, talker.

Speaker 1 (05:13):
Up in Jackson holwai Iman this week the Feds may
lower the prime rate in September. Well, that'd be good
for everybody, But Tim, they just all the stuff we
grew up on Washington decisions they made about this is
they've kind of changed the guidelines on how they're going
to make decisions. Now nobody knows really what they are.

Speaker 4 (05:35):
Who knows what queues they're using.

Speaker 3 (05:38):
They want to talk about inflation, but you know, i'd
have you'd have to really study the data about inflation.
Are we paying more for the same goods we bought
six months ago?

Speaker 1 (05:51):
Well, and everything that all these numbers are you know
that we look at are from they're thirty days back.
This is last month's report. So things that happened for
a month, and then you get the numbers. Things happened
for a month, then you get the numbers, and some
of this stuff has averaged out over a year to time,
you know, so it you know, it used to be
hinged on unemployment. It used to be hen CPI, PPI

(06:14):
and the different numbers ten and week time to listen
to them rattler savers and have an idea what's going on.
And they were consistent with the kind of the route
that they followed on making decisions. But I think you
pointed out to me a while back that this is
the longest that we've gone with a with a raid
hike and no reduction ever in history. Yeah.

Speaker 3 (06:36):
But when we saw some radical rates even and when
I started a career, you know, we were ten percent
on mortgage.

Speaker 1 (06:45):
Yeah.

Speaker 3 (06:46):
And I think there're somehout there that think that breaks
are going to go up somehow.

Speaker 4 (06:50):
I don't. I don't think so.

Speaker 3 (06:52):
And uh, I'm just having a tough time finding out
the decision making is that's driving.

Speaker 1 (07:04):
The Fed to.

Speaker 3 (07:06):
Not consider lowering the prime or lowering the Fed fund
rate in order or having a point in September, we'll
wait and see.

Speaker 1 (07:15):
Yeah, Well, I'm you know, the reason that they start
raising rates and trying to have more money money be
more expensive to people that need it is one of
the main things they want to do is create.

Speaker 2 (07:26):
A little bit of an unemployment deal.

Speaker 1 (07:27):
Obviously. I mean that's kind of, you know, kind of
one of the deals with what the FED operates and
why they make these adjustments. And you can study and
see if I'm telling you the truth or not. But
I am a jobless flamed. Report that came out this
week new claims rising eleven thousand, the two hundred and
thirty five thousand people filing for ntemployment last week ten
that hadn't in the previous and who knows how many

(07:49):
people are not working that are off those you off agree,
but anyway, Continuing claims also increased to one million, nine
hundred or one million, nine hundred and seventy two thousand,
which is the highest number since twenty one, in the
midst of the COVID crisis. This is another kicker that's
come out. Increased home sales increased two percent, showing home

(08:12):
closings at four million so far this year estimated by
the time it's over, And even though it was an increase,
that will still show four point one billion at the
pace expected. Available home supply was up over fifteen percent
from a year ago.

Speaker 4 (08:31):
Yeah, and it's a bigger number across the country.

Speaker 1 (08:35):
Yeah, and it's you know, and everybody has you know,
different costs of living. Gas is cheaper in different parts
of Kentucky than it is here, you know. But the
housing market, you know, and and Tim we were talking
about for the show started about when some comments are
made there with such a broad brush, how do you
separate it all out. I think home appreciation in central
Kentucky probably far exceeds a majority of the country in

(08:58):
my opinion. I'd have to really get it deep into it.

Speaker 2 (09:00):
But I think that the real estate.

Speaker 1 (09:02):
Market here is is nice, and it's you know, obviously,
the way that everything's been structured with development process and
everything in Fat County is the big deals. Not that
way in every county. But you know, homes appreciated a
faster pace here in this area then a lot of
them that I'm familiar with.

Speaker 2 (09:18):
And you guys gonna say you've seen it, you know you.

Speaker 3 (09:25):
Yeah, I just closed on a new construction, uh than
Woodford County, and uh, I was talking to my customer
and you know, but you know, you know, we we
kind of became friends there in the process. In a
construction process, you kind of are talking to them, you know,
talking to your clients quite often. And uh, in this case,

(09:50):
his biller's got probably four finished that have for sale
signs on them, and he's got five more under constr rush.

Speaker 4 (10:01):
And they're all in uh five hundred right.

Speaker 3 (10:05):
Yeah, so that would make me a little nervous.

Speaker 2 (10:09):
I don't know.

Speaker 3 (10:11):
What's going on in Whatford County, but obviously he feels
confident enough to, you know.

Speaker 4 (10:18):
To put these homes under under in construction. So yeah,
and a.

Speaker 1 (10:26):
Lot of a lot of people, you know, there is
risk involved in these guys find this land and developing
out a project for multiple houses. You know, we all
I think that, you know, I've got a couple of
construction loans going. One of them is almost done down
here in Madison County. And Andrew Luxeon's built a nice
house for a client of ours down there. It's one
deal in one lot they went out and found and
but he does multiple houses as well, you know, and

(10:48):
and it's going good. But it's it's just crazy. I'm
anxious to see from one time they started this one
what it's going to be worked in the end. Because
I was just talking about how things appreciate in central
Kentucky a little better than other places. And and I
did one out by Boonsboro Fort Boonsboro out there, and
by the time the home was completely finished, the equity
from the time they started and got it there had

(11:10):
increased like seventy five thousand dollars in nine months. Yes, sir,
you know, and this one here is just as nice
and in a great neighborhood. So I'm kind of, you know,
anxious to see how it shakes down for our client. Everything.
I think we're gonna be in good shape. But he
does a great job with these buildings. Well, plenty of
good builders around here, Jimmy, you know, there's a lot
of people. But you know, get call in here, get

(11:33):
pre qualified. We do good construction lownsers, no doubt about it.
If you're a builder and you've got somebody wants to
want you to use your money, send them in. We'll
use our money. You keep your money, do your stuff.
You know we can. We'll work with you. We can
get it put together. It won't take us too off
long to make it happen. Six and a half on
a thirty five point seventy five on a fifteen. Though,
if you want a refinanswer by something at this point,
and we can try to put something together for you,

(11:55):
but we're running out of time here, just running on
this first session. We're going to be right back. The
bank is open a day from nine to one. Phone
numbers eight five, nine, eight, nine, nine one nine three
six south and drives eighty five nine two six three
three three three five. So if you can hear what,
you can call us eight folks, you're gonna be listening
to some music by my good friend Avery Crabtree today
on the radio show.

Speaker 2 (12:14):
If you get a chance to get.

Speaker 1 (12:15):
Out and see him, you will be disappointed at all's
great artists, good people, and a good man. He's gonna
be out at Golden's Pub in delhi Over in Georgetown
tomorrow on Sunday from five to eight, and he'll be
down at the Bluegrass Bourban Fast down in Richmond tonight
about nine o'clock, I guess. So find him on Spotify,

(12:36):
YouTube and enjoying. Avery Crabtree's a great guy, six and
a half on a thirty five point seventy five on
a fifteen, and old Denny Humphrey would take that if
he was around. So we're going to be right back here.
Listen to Welcome Home Show by Guardian Saves Banks on
News Radio.

Speaker 3 (12:48):
Hold on CAD's six point thirty w lap, We'll be
right back.

Speaker 2 (12:53):
Can that Listen to Welcome Home Show by Guardian Savies, Banks,
Tim Adams, Larry Frank's in here with.

Speaker 1 (12:57):
You this Saturday morning. Banks opening it up from nine
to one. Phone numbers eight five, nine, eight nine nine
nine three six thousand drives eighty five nine two six
three three three three five. So if you can hear
she can cause be glad to help you. We don't
make a whole changes at the Bank ten, but you
did notice this week that we're now able to offer

(13:18):
jumbo loans thirty year fixed jumbo loans, and that's something
that we asked for for a long time. We've structured
some deals of the first and second mortgages. But if you're
in that arena, I think that we're going to have
a competitive product for you to consider. And if you're
a realtor listens to the show and you've got some
people in that price range, then we'd be glad to

(13:38):
see what we can do for you. But it's uh,
we've been.

Speaker 4 (13:42):
Doing jumbo with our money for a while.

Speaker 2 (13:45):
We've we've had a jumbo, but now we've got a.

Speaker 3 (13:47):
More conventional fixed rake jumbo, I think is what you
talked about, right.

Speaker 1 (13:51):
Yep, Well, yeah, one loan, thirty year fixed.

Speaker 3 (13:55):
Because our in house jumbo has been very popular over
over these many years.

Speaker 1 (14:01):
Yeah, and those the race are just a little lot
on our in house money right now. Six point six
two five on a thirty year fixed on a jumbo loan.
It's gonna be new to us to have it, so
I'm gonna have to shop around and see what else
is out here, you know, just keep that in mind.
And you got the jumbo loan, we still got the
fine seven five. If you've got seven eighty credit score

(14:21):
and twenty percent equally, that's five hundred dollars in closing cost.
That's on a fifteen year fix, five point seventy five.
Five hundred dollars in closing cost. That's pretty cheap and
won't take long to break even if you're in that,
you know, on that short views of a mortgage payback,
you know, calling let's let's talk about it. Let's let's
dig into a little bit, pull the covers back and
reveal a few things and see if we can save
you some money or some time on your payoff. And Tim,

(14:44):
I'm gonna bring it up again. I'm gonna keep talking
about it. If you're getting ready to retire and make
some changes with the way you get your income, let's
look at this before you do it, because Tim, you
know what I know, some of these and this income
changes over time's over bonuses are over and it takes
people a little bit to adjust, and this is one
of the things that they kuman and they need to
redo their mortgage, but their income's changed.

Speaker 4 (15:07):
Hopefully you're got all that squared away.

Speaker 3 (15:09):
But that's very important, you know. When in the past
we've had customers that have retired and are paying on
a fifteen year mortgage and they don't want that fifteen
year mortgage anymore. So sometimes it becomes a little more
challenging since their income documents won't look the same. But

(15:32):
we do use what we call a calculation from your retirement.

Speaker 1 (15:37):
Once you reach a certain age.

Speaker 3 (15:40):
We can kind of spend off hypothetical income from your
you know, your retirement holding. But it pays to go
ahead and explore that now. And maybe you'd like to
as I had one of my customers say, you want.

Speaker 1 (15:57):
To live off his mailbox money.

Speaker 3 (16:00):
Right, he didn't want to have to He didn't want
to have to take money from his retirement account to
pay the mortgage, per se.

Speaker 1 (16:09):
If he'd rather have.

Speaker 3 (16:10):
A thirty year mortgage and pay less and keep the
rest of it and play and not be taking money
out of his retirement accounts that were possibly paying dividends
or were profitable, much more people were than having a
fifteen year mortgage and kind of robbing Peter to pay

(16:33):
Paul kind.

Speaker 1 (16:33):
Oftin yes, and it's you're right, and just it doesn't
hit you until it hits you. So if you if
that's something on your future plans, you got a financial
advisor or whatever, give it, you know, let us help
you try to monitor what we can do or help
you monitor what's going to happen so that you can
prepare before those things start changing. And it's happened to
many millions of people in this economy. People didn't change

(16:55):
their lifestyle cut back here, cut back there, that's kept
on going thinking things with correct themselves and get and around.
And there's a lot of people you know that have
struggled because of the cost of things changing and not
making the adjustment soon enough. And don't make it, they'll
get by. But you know, if you're getting ready to
retire the more and you have a mortgage, a short
term mortgage, you might want to look at that and
say what we can do to restructure to increase some

(17:17):
cash flow help you have we can, but just like
Tim said, sometimes it's a little tough once you get
get there, and.

Speaker 2 (17:23):
Just give us a call.

Speaker 1 (17:24):
Banks over to day from nine to one, phone numbers
eight five, nine, eight.

Speaker 2 (17:27):
Nine nine six.

Speaker 1 (17:29):
Hey. The music you're catching today on the shows by
Avery Crab for you local artists, So if you get
a chance.

Speaker 2 (17:33):
To check him out, please do so.

Speaker 1 (17:34):
Get Golden Pub and Deli tomorrow from five to eight
out in Georgetown to be down at the Bluegrass Bourbon
Fest and Richmond tonight. So enjoys music. We're going to
take another break. You are listening to Welcome Home Show
by Guardian Savings Bank on news Radio six thirty w LAP.
We'll be right back.

Speaker 2 (17:53):
Thank Listen to Welcome Home Show by Guardian to Savings Bank.

Speaker 1 (17:56):
Very freaks. Tim Adams in here with you this Saturday morning.
Banks up from nine to one on numbers eight five, nine,
eight nine nine one nine three six Here in Hamburg
South and drives eight five nine two six three three
three three five.

Speaker 2 (18:09):
So if you can hear, you.

Speaker 1 (18:10):
Can call us be glad to help you fixed great
on a thirty years, six and a half day, fifteen years,
five point seven, five six and an eighth on a
twenty and that five point seventy five on a fifteen
year fix if you've got twenty percent equity and a
seven eighty credit score. The closing cost for a whopping
five hundred bucks to him, and that includes you appraisal,
credit report, loan closing processing, underwriting doc prep. Uh. You

(18:34):
know some of the fees you see on some of
these other closing costs. I mean that's really what we
have with there. I see people that have thirteen or
fourteen different things are paying for you know what I'm saying.
Credit report, I mean, it pays that five hundred dollars
covers everything, but you're estro a filing fee and prepaid interest.
So keep that in mind. If you're in the market
to try to do something different, let's let's get it done.

Speaker 4 (18:55):
So everyday low price, Mary, Yeah.

Speaker 1 (18:58):
Every day, So Tim, we're not going to be out
on the radio next Saturday. And I hate it because
you know, I enjoyed doing this show. We got to
have some lunch and get socialized with some people when
we do it. But next Saturday, the Cats will be
playing Toledo at twelve forty five, So pregame shows that
will probably start nine thirty or nine forty five, So
we're gonna get pre emptied.

Speaker 4 (19:19):
Yeah.

Speaker 3 (19:19):
Well weather weather changed a little bit and it's been
real nice it look, so it's going to be a
real nice day for football on Saturday. Yeah, so we'll
see what the Cats.

Speaker 4 (19:34):
Bringing on.

Speaker 2 (19:35):
Yeah, have you looked at the schedule?

Speaker 1 (19:37):
I was going to ask you how many games you
think they win this year.

Speaker 4 (19:41):
I haven't really started it much yet. I know we
got to cut.

Speaker 3 (19:45):
Some good skilled players, so I don't know a lot
about this team yet.

Speaker 1 (19:52):
Yeah. Well the conference that we're in is the.

Speaker 2 (19:55):
Biggest sticking point in mind.

Speaker 1 (19:56):
If they win six games. If somebody said I think
might have been Steve or production managery, it was just
little wago See said that. Somebody said that they win
six games will be considered a good year. But I
mean it's a If you look at that schedule, it's
gonna be tough. And well, they played Toledo next Saturday.
Following week, Old Miss comes to town. The thirteenth of September,

(20:17):
Eastern Michigan comes to town. Then they go to They
got a couple of weeks off, then they go to
South Carolina. They go to Georgia. Then Texas comes to
town October eighteenth for their first appearance in the Kroger Stadium.
Arch Man, Yeah, Tennessee and Kentucky's on October twenty fifth,
Then they go to Auburn. Florida comes to Kentucky. Tennessee

(20:41):
Tech coming to Kentucky November fifteenth.

Speaker 2 (20:43):
Then they go to Vanderbilt, and then they'll go to
Louisville on November twenty ninth.

Speaker 1 (20:47):
But do some hard knockers on there, you know, and
it's it's I don't know what they're gonna do with
this Florida. I mean, I enjoy it, and I watch
it the nil money the portal transfer portal, and you know,
it's just people swapping around, moving around, and and uh,
it's crazy. I was watching the Bengals in Washington the

(21:09):
other night and listening to radio a little bit too,
and they had that kid they drafted out Ohio State
after four years he played four years down Alabama and
then because the COVID year had a year left and
wound up winning the Remington Award. I think is what
it is? Is that what it is for the offensive lineman. Yes,
it's the last couple of games. He was a center,
but played four years at Alabama and then goes to
Ohio State and you know what kind of year they

(21:31):
had that they had an Alabama man. I mean, it
comes in train, knows how to work, you understands all
these different things.

Speaker 2 (21:39):
I take care of himself.

Speaker 1 (21:40):
And that's what's happened in this transfer portal and stuff
and deal to get good quality players out of it. Yep,
and have some funds. I mean, I've read something about
basketball the other dude the other day too, and how
we are different than most schools because of the support
they having the money in the program. But you know,
it's it's crazy.

Speaker 3 (21:58):
Because really there, you know what they what they've done
is with these at these schools, these schools you're talking about,
is you know, just create an environment that these kids
just that's where they want to go and that's where
they feel like that they they got the best chance
to improve their profile to play at the next level,

(22:19):
just like just like we've had it with the basketball.
You look at the power houses you're talking about in football,
and that's a business model. It's like, you know, they've built,
you know, something that it's hard to combat against because
they're most likely going to get the best players out

(22:40):
there available.

Speaker 1 (22:43):
Yeah, it's a uh you know, I just don't know.
It's got to be so tough coaching because the kids
can leave it anytime, and so you want to keep
the kids.

Speaker 2 (22:54):
You have that are they're helping.

Speaker 1 (22:56):
You in and you like them and you spend the
time with them and you want to keep them happy.
But you're also going to be thinking about you might
have to recruit somebody because he may leave you for more, better,
more money someplace else. And I just wish they would.
I don't know how it works, but if they're holding
these kids accountable with some of this money for some reason,
you know, like I mean last year, those kids, you know,
get telling out the game four at four plays in

(23:17):
because they're punching somebody, one of your best defensive players,
crazy stuff like that. I don't know how they're holding
these people accountable, you know, if they don't, if they
if that causes them the loss or whatever, and it
affects everybody, you know, maybe a Bowl game, you know,
so where you know, I don't know, I just I
don't know. It's just it's changed so much to him

(23:38):
in our lifetime, and it's I don't know they're gonna
have to I don't know what they'll do and change
it or making it any different. But it's it's crazy.

Speaker 4 (23:47):
Well obviously business is good.

Speaker 1 (23:50):
Yeah, yeah, and and and your donators.

Speaker 3 (23:54):
And yeah with the A and they really got them anopley,
you know on this deal. And yeah, I don't know
how you justify come in all these investors not coming
into these nil funds.

Speaker 4 (24:11):
It's just amazing.

Speaker 1 (24:12):
You have to do it with wins. Yeah, you know
that's that.

Speaker 2 (24:18):
You know, you got to you can put.

Speaker 1 (24:20):
A product on the floor. And you know, I've been
on many recruiting visible with the kids I've coached and
spent time with for years all over you know a
lot of great schools and see a lot of great coaches.
And I don't know how many times I heard of
softball coach tell these girls, I don't look out the field,
start counting scholarship money. I look after the field and
look make sure, I got the best nine players out
there I can put out there, right, So you might
not be getting the same amount of money on scholarship

(24:41):
as somebody else. You might not get anything at all
this year. Next year you might get a full ride.
Third year you might get to half. But because they
only have so much money spread around, but they ain't
look out there looking on who they got the money
invested in, and they're looking for the best athletes, and
it's just you don't know, you know, And it's just
one of the things that you have to take into
consideration with this Nil He's got to change all of it.

(25:01):
I think that's why we had a little bit of
transition this year, wasn't it Because some people might have
been getting old of that money and didn't you didn't
get as much time on the floor as they thought
they might.

Speaker 4 (25:09):
Well, I think Nil's kind of changed everything.

Speaker 1 (25:13):
Yeah, and the recruiting, the I just I mean, they
could go at any time, you know, and it's just
you know, there's you know, some people been at three
or four schools, you know, in the last four years,
different school every year and just find kind of makes
not the same product.

Speaker 3 (25:32):
We grew up with by any means no, Usually you
went to college and you stayed there for years.

Speaker 4 (25:40):
And that's as I was.

Speaker 1 (25:43):
Yeah, what there's a guy around town attend that didn't
he get in trouble for if the player stopped in,
he'd give them some fund something eat, you know, then
back before they got paid and they were you know,
practicing and going to school and give them a free
lunch and got in trouble for it.

Speaker 4 (25:57):
I can't get from any of those parts existed but possible.

Speaker 3 (26:03):
Yeah, teas we're gonna says pretty good on Friday, Larry.

Speaker 1 (26:09):
Yeah, or all you can eat chicken salad at the
UH at the salad bar. Yeah, but it's changed. But anyway, Hey,
back to this thing with these construction loans and stuff,
Tim it's.

Speaker 2 (26:23):
AH and some of the other products we have.

Speaker 1 (26:25):
We do construction loans non owner occupied, if you want
to buy a duplex or a rental property or four
plex or eight flex do those we do. FHA, KC, USDA,
v A, and KC just announced that they've got their
increase in their down payment assistance program from ten thousand

(26:47):
to twelve five hundred, and it's like four point seventy
five percent payback over fifteen years, but you can use
that for your down payment and closing costs. So that
just that's announcement just came out, and that's going to
think start September the first and run through the end
of the November something. I'll see if I can find
it on the computer here, but let's see. KHC has
announced a temporary increase in their down payment Assistance programs

(27:08):
ternably ten thousand, however, from August twenty first until November thirtieth.
All right, so starting today, the DABT will increase to
twelve five available August twenty first, up to twelve five
per borrow.

Speaker 2 (27:21):
Work per borrow, it'll be.

Speaker 1 (27:24):
Twenty five thousand in the household repaid at four point
seventy five percent over fifteen years.

Speaker 2 (27:30):
So you got that.

Speaker 1 (27:31):
But there's this is where property has to be located
at Kentucky income limits apply. The DAT must be repaid
and has monthly payment that is to be useful on
FHA loans only or the KHC program and then can
be combined with the Bank CCA program of three thousand
towards closing costs in Algebilaris, which we have that on
occasion as well. So if you've been trying to figure

(27:52):
out how you're going to get the money to get
a transaction taken care of. Give us a call. We've
got an outlet for you, and then we'd be glad
to help you with it. That says, listen to radio
showing that down payment assistance I've been looking for. And
I want to run some numbers so you know they're
trying to help create some spark out here to get
people moving and shaking tim and get some properties going,

(28:15):
people off the rent, rolling on the tax paying property
roll or whatever.

Speaker 3 (28:21):
And I don't want the score credit score minimum is
for the program you're talking about, but I want to
say it's six twenty six forty.

Speaker 1 (28:35):
Six sixty year better based loan amount one ten a
parer rate for just a straight up FHA loan, six
and a quarter percent less than what our fix is.

Speaker 4 (28:44):
On conventional So sixty credit score, I mean, you know.

Speaker 1 (28:51):
It's you can get down to. You know that you
got to get manual under rights. When you get below that,
what don't go as low as five eighty. It's just
LP exceptor manual max ratios or for forty and fifteen
compensating factors. So you know if you got it, if
it makes sense, then we can put together and you
can afford it. We're gonna try to help you get
it done with the FAHA and they will they will
help us help you. But it's it's tedious, it's detailed,

(29:13):
and but we do them, and we do a lot
of them. But we've got FHA, ba USDA, Community Home buars,
uh KHC. You know, we got several programs. Well you
do a lot of the conventional and in house money,
but we do them all.

Speaker 2 (29:24):
We can get them all, and we do a.

Speaker 1 (29:26):
Great job with all of them in house underwriting and
processing and in the conventional and in house money, and
we service the rest of it. You know, we might
sell out over period of time on these government loans,
but closing costs are a little different on them because
of that. But still a good program if you're interested
in in trying to buy home and you're trying to
put the pieces of the puzzle together, and we're gonna
take another break. Banks open today from nine to one

(29:48):
on 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
some you could call them eight folks. You're gonna be
listening to some music by my good friend Davey Crabtree
today on the radio show. If you get a chance
to get out and see him, you will be disappointed
at all. It's great artists, good people and a good man.
He's gonna be out at Golden's Pub in delhi Over

(30:10):
in Georgetown tomorrow on Sunday from five to eight, and
he'll be down at the Bluegrass Bourban Fast down in
Richmond tonight about nine o'clock, I guess, so find him
on Spotify, YouTube and enjoying. Avery Craft is a great guy.
If you are listening to Welcome Home Show.

Speaker 2 (30:27):
By Guardian Safey's Banking on News Radio six point thirty
w LAP, we'll be right back.

Speaker 1 (30:34):
You're back.

Speaker 2 (30:34):
Listen to a Welcome Home Show.

Speaker 1 (30:36):
Banks Open to day from nine to one. Tim Adams,
Larry Freke's in here with you. We appreciate you tuning
into us. Got our location over a day from nine
to one. Southends open nine to one. Phone number here
is eight five nine, eight nine nine one nine three
six Southends eight five nine two six three three three
three five. So if you can hear if you can
call us six and a half on a thirty six
and eighth on a twenty five point seventy five on

(30:58):
a fifteen, and that five point seventy five if you
got twenty percent equity and a seven eighty credit score,
the closing costs for a WAP in five hundred bucks
and that covers everything we need to put your loan together.
And I'm just telling you, like I said earlier, Tim
at Denver Humphrey was on it.

Speaker 2 (31:12):
You know you got to.

Speaker 1 (31:13):
Consider it too, because he's sharper than a jail hash
rat yep. And there are just a few people out
here that pay attention that they'll jump on deals like that.
But you know, it's a it's a it's not a
bad deal based on what's going on in the economy.
And I say it all the time, marry your home
and date your loan. A lot of people don't realize

(31:34):
they can refinance. They won't even think about, you know,
trying to lower the rate and save themselves some money.
And I don't know, I was just I don't all
try to stay in touch with my clients like you do, Tim,
And if it makes sense, you know, all hit them up. Hey,
you know, we can save some money if you're still
unch to do it. Sometimes the are sometimes or not.
But it's you know what, we gotta have thirty days

(31:57):
paced up. It's a couple of w two's, a couple
of months, statements, insurance, informent, just whatever. You know, it's
not a it's not a big deal for self employed.

Speaker 2 (32:05):
I have to have a couple of.

Speaker 1 (32:06):
Years tax returns, you know, in an audited p and
L for this year and we'll put it together and
health got I did a bank statement program this year
for a self employed person and the way they do
their taxes is completely legal. But the bottom line isn't
what we needed, but the cash flows there. And so
we did an in house loan with a with a

(32:27):
bank statement program and got a great deal put together
for So that's not something you know that we do
all the time, but you know, if that's one of
the things that somebody needs to have done, and you know,
this is somebody's bend their job for fifteen years and
you know, self employed and they just they're they're following
the tax code like anybody, and a lot of people
do tim and it hurts someone, you know, when you

(32:49):
try to do this. So there's more than one way
to skin a cat. That's why you want to call professionally. Here,
been around the block once or twice a week in structure.
Put it together, right, right? Bank statement pro what was
some of the stuff they had before the realistic crisis?
It was a bank statement program, stated income program, one

(33:11):
hundred and twenty five percent loans. Remember all that crazy stuff.

Speaker 3 (33:15):
Well, as long as you have a seven on our
credit store, you could virtually just slide on through.

Speaker 1 (33:23):
Yeah, it was, and it was you know, of course
obviously that blew up.

Speaker 4 (33:26):
And club Prime craze Larry.

Speaker 1 (33:30):
Yep, yep. But you know we got all f h
A b A, USDA, Community Housing, Kentucky Housing. We just
you know, we got several different programs. But our in
house money are conventional financying six and a half on
a thirty six and eighth on a twenty five, seven
five on a fifteen. And if you bought a house
the last two and a half or three years, you're

(33:51):
above seven percent most likely, And if so, give us
a call with the closing costs of nine hundred and
forty eight bucks for a refinance. It won't take you
long to break even. You got enough EQTU and I
cast some mortgage insurance and we just have to take
a look at to see how much money we can
save you. And then when we get the paperwork out,
you save some money on your call owners insurance. But
mortgage insurance is not cheap in a lot of cases. Tim,

(34:13):
you know what, I know it, and it's a that
gap insurance may not be needed anymore.

Speaker 4 (34:18):
Well, no thing. His inventory should be good right now.

Speaker 3 (34:21):
So based on your logic that go ahead and even
at red six and a half, go ahead and buy
that home and you.

Speaker 4 (34:30):
Know next year it could go up in value.

Speaker 1 (34:32):
You know who knows, marry the home date, the loan.

Speaker 4 (34:37):
Investment, you do think of it that way.

Speaker 1 (34:40):
Yep, absolutely absolutely. But anyway, we're not.

Speaker 2 (34:46):
Going to be on next Saturday. You got the UK football.

Speaker 1 (34:48):
Game and they'll be on at twelve forty five. Pre
game starts nine thirty or nine forty five somewhere in there.
And hopefully they'll have a good season. Everybody will learn
a little something about each other, they stay healthy, and
they'll be competitive all your long, and that's all we
can hope for. It's a big time over at UK
every time there's a game anyway, so you know the
fans will be there, you know, mostly regardless of what's

(35:10):
going I understand the schedules tough and the competition stuff,
but that's that's what the SEC is. So if you're
going to be there next weekend, be safe. Tim, You're
going to be signing autographs in the blue lot, right yeah,
pre game. Yeah. So if you get out see Tim,
he'll have some posters and stuff of us and he
can sign a few of those for you and get
your weekend started right and you can enjoy the game

(35:31):
and have a good time. So we appreciate you tuning
in to us. Thanks you open today from nine to one.
pH numbers eight five, nine, eight nine, nine one nine
three six checking saving CDs, but right now six and
a half on a thirty six and an eighth on
a twenty five, seven five on a fifteen.

Speaker 2 (35:48):
Give us a call.

Speaker 1 (35:48):
We can help you. Ask for Timer Larry. We'll get
you taken care of. Ay. The music you're catching today
on the shows by Avery Crab for you local artists,
So if you get a chance to check him out,
please do so. Be at Golden Pub and Deli tomorrow
from five to eight out in Georgetown to be down
at the Bluegrass Bourbon Fest in Richmond tonight.

Speaker 2 (36:03):
So enjoys music, appreciate you tuning.

Speaker 1 (36:07):
In to us and be back in a couple of weeks.
You are listening to Welcome Home Show by Guardian Safeties
Banks on

Speaker 3 (36:11):
News Radio six point thirty w lap eeehaw.