Latest / Bought Borrowed and Sold / Our Thanksgiving show!

Transcript

Our Thanksgiving show! · Bought Borrowed and Sold

0:00
Speaker 1: All right, welcome to Borrowed and Sold and I hope
0:05
Speaker 1: you are getting super excited about holiday season. Thanksgiving. Man,
0:11
Speaker 1: we've got a huge event later today. If you're out
0:14
Speaker 1: in the bounce Yeah. Snaps with Santa. I'm man, I'm
0:18
Speaker 1: super pumped about it. Brad Smith Bradsmith Loans dot Com,
0:24
Speaker 1: cross Country Mortgage. How are you, buddy?
0:26
Speaker 2: I am great. It is it is here, it is
0:29
Speaker 2: Thanksgiving week.
0:30
Speaker 1: It is I'm so excited. I love to eat. I
0:32
Speaker 1: love to eat a lot.
0:34
Speaker 2: Yeah. I mean if you could, if you could get
0:36
Speaker 2: the camera zoomed down a little bit, you'd see I
0:37
Speaker 2: have no problem with taking it down to the side,
0:41
Speaker 2: which got to work on. But it ain't gonna be this.
0:43
Speaker 1: Week, says the season, Thanksgiving, Christmas. All right, are you
0:49
Speaker 1: coming to the event tonight?
0:50
Speaker 2: I believe we've got a little flag tournament when I
0:53
Speaker 2: leave here for if we keep winning, I think we're
0:55
Speaker 2: done it too, so we'll still be able to make it.
0:57
Speaker 2: So so for nine sure we will be Witham Santa.
1:00
Speaker 1: So let me just tell you we've got this. This
1:02
Speaker 1: This is my favorite event of the year. It snaps
1:04
Speaker 1: with Sanna. This our Sanna is incredible. He does magic tricks.
1:12
Speaker 1: He tells amazing stories. So if you've got kids, or
1:15
Speaker 1: if you have grandkids and wanna have a great picture
1:19
Speaker 1: taken with Sanna, let me tell you, Like, I've got
1:23
Speaker 1: people that have been coming to this for six and
1:25
Speaker 1: seven years straight, and I've seen literally their kids grow
1:28
Speaker 1: through the years. And and so we're at Avendel Brewering
1:33
Speaker 1: and we're in the upstairs event place of Avendale Brewery
1:39
Speaker 1: from two to five this afternoon, and come get your
1:43
Speaker 1: picture taken with Sanna. We've got crafts and things for
1:46
Speaker 1: the kids, We've got beverages for the adults. We've got
1:50
Speaker 1: an incredible spread of all kinds of little snacks and
1:55
Speaker 1: desserts for everybody. I'm gonna try, as I recall last pressure,
2:02
Speaker 1: Sanna sang some Sanna did sing. He sure did.
2:05
Speaker 2: Actually, Sana is skilled, apparently.
2:08
Speaker 1: Yeah. Yeah, we had about one hundred and fifty groups
2:12
Speaker 1: came by last year, a lot of groups. It was fun,
2:14
Speaker 1: It was it was awesome. We had so much fun.
2:16
Speaker 1: It is my favorite event of the year.
2:19
Speaker 2: So yeah, I mean y'all put a lot into it too.
2:21
Speaker 2: I mean a lot of the staff and stuff at
2:24
Speaker 2: the office or in.
2:24
Speaker 1: A lot of works for a cross country being a
2:26
Speaker 1: sponsor or this year, so so get getting involved with it.
2:31
Speaker 2: It's always been fun. I've lived by character through pictures
2:34
Speaker 2: and stuff through Facebook. I actually shared it today just
2:36
Speaker 2: to on Facebook on some of the stuff y'all posted,
2:39
Speaker 2: and yeah, it's gonna be it's gonna be fun. And
2:41
Speaker 2: I just can't I just can't believe it's already back
2:43
Speaker 2: to this time.
2:44
Speaker 1: But we've known it's easy, but we've.
2:46
Speaker 2: Known it's coming, and so it's it's here.
2:49
Speaker 1: Uh.
2:50
Speaker 2: I think I said the other day that it's like
2:51
Speaker 2: it's like it's twenty twenty six. I mean, Hayes in
2:54
Speaker 2: the barn, I mean, whatever we've got in, I mean
2:57
Speaker 2: we get more, but it's it's already for things we've planted,
3:00
Speaker 2: you know, anything we reaped now we've already sold. So yeah,
3:04
Speaker 2: it's uh, it's it's here, and it's just hard to
3:07
Speaker 2: believe that we've got that we're back here, but it
3:09
Speaker 2: is amazing. It also brings in the in the football
3:13
Speaker 2: season for around here, so we've got Iron Bowl into
3:15
Speaker 2: this week and so it's it's just it's an awesome
3:17
Speaker 2: time of year, but it's it's wild that we're here again.
3:20
Speaker 1: Yeah, yeah, it really is. Well, uh, I tell you, you know,
3:24
Speaker 1: from the market standpoint. I'll give a little bit of
3:26
Speaker 1: a market update in our next segment. We're going to
3:28
Speaker 1: talk about like how you can buy a house using
3:30
Speaker 1: a VA loan. So if you're a veteran, you definitely
3:33
Speaker 1: want to tune in on our next segment. But Brad,
3:36
Speaker 1: what have you been seeing in the mortgage market? And
3:38
Speaker 1: then I'm gonna talk a little bit about what I've
3:40
Speaker 1: been seeing here lately, just in the last week, uh,
3:43
Speaker 1: on the real estate world.
3:44
Speaker 2: Yeah, so mortgage applications are really dropped a little bit,
3:49
Speaker 2: but very I mean just a small, not very material.
3:52
Speaker 2: Rates are just kind of staying stagnant. I mean, I
3:54
Speaker 2: think they just don't really know what they want to do,
3:56
Speaker 2: just because there's been so many little like mixed messaging.
3:59
Speaker 2: I mean it would with the government shut down. Now
4:01
Speaker 2: it's open back up. We're getting we're trying to react
4:03
Speaker 2: to jobs reports that are two months behind now because
4:05
Speaker 2: of the government shutdown, and there's some conflicting numbers on
4:09
Speaker 2: the unemployment and employment numbers and of what we're getting
4:12
Speaker 2: and piecing together, and so right now, I mean, rates
4:15
Speaker 2: are still sitting in the low sixes on the on
4:17
Speaker 2: the conventional and like we've talked about before, mid mid
4:20
Speaker 2: fives on your government loans, that's the FHA V A USDA.
4:24
Speaker 2: And I mean they've really just been kind of hanging
4:26
Speaker 2: out there, which again is kind of I think that
4:28
Speaker 2: kind of shows it's probably about where it should be
4:30
Speaker 2: for the market is and and and nothing crazy. I
4:32
Speaker 2: do think we're going to continue to see them come
4:34
Speaker 2: down a little bit more as these job numbers keep
4:36
Speaker 2: coming out, inflation numbers kind of start getting back together
4:41
Speaker 2: and the government can react to them. But but we're
4:44
Speaker 2: I mean we're seeing people. I mean this, you know,
4:46
Speaker 2: we've talked about it. It's not like it's the peak
4:48
Speaker 2: of the season, but we see an upticker I normally
4:51
Speaker 2: do around Thanksgiving through the end of the year, and
4:55
Speaker 2: so I think we've already been seeing that. I think
4:57
Speaker 2: y'all have seen that with some contracts and stuff.
4:59
Speaker 1: So is that just people getting prepared for the next
5:02
Speaker 1: thirty sixty ninety days as they're going through that process
5:05
Speaker 1: of buying a house.
5:06
Speaker 2: Yeah, I think there's I think there's I think there's
5:09
Speaker 2: some motivation for the end of the year to get
5:11
Speaker 2: to for some people, for whatever reason. Even that may
5:13
Speaker 2: not impact schools, and even if it's primary residence may
5:15
Speaker 2: not have anything to do at all with tax implications whatever.
5:17
Speaker 2: But I think I think there's just some you know,
5:19
Speaker 2: You've got people that are going to take that whole
5:21
Speaker 2: week off and want to get it done before they're
5:23
Speaker 2: going to be back in the spring. They're not going
5:24
Speaker 2: to have a lot of vacation times until maybe later
5:26
Speaker 2: in the year that they know they need to do something.
5:30
Speaker 2: I do think there's some monetary reasons for end of
5:32
Speaker 2: the year stuff, but I mean I also just think
5:34
Speaker 2: like more people are out riding around and seeing for
5:36
Speaker 2: sale signs and start thinking and going. They're just more
5:39
Speaker 2: people are traveling going through the neighborhoods, going house to house,
5:43
Speaker 2: just during the holiday season, going into different neighborhoods. They
5:46
Speaker 2: don't go in every day, in and out. And I
5:48
Speaker 2: just think there's a little you know for that. Again,
5:50
Speaker 2: it's not like we're going back up to you know,
5:53
Speaker 2: the the the peak of the summer or spring when
5:56
Speaker 2: it's hot hot, But when we start seeing the little
5:59
Speaker 2: downtick in November usually one of the lower months, I
6:01
Speaker 2: feel like we normally see that little uptick in December
6:04
Speaker 2: and then January kind of goes back down usually about November,
6:07
Speaker 2: and then it's February and then it's March and it's
6:09
Speaker 2: talking about the calm before the storm.
6:10
Speaker 1: There we go, Well, just think about like this week.
6:12
Speaker 1: I mean, you're gonna be you know, Thanksgiving. You're gonna
6:15
Speaker 1: be talking with your family and and people just like
6:18
Speaker 1: you do at the Thanksgiving table, the Christmas table, like
6:22
Speaker 1: what what have you got going on next year? And
6:25
Speaker 1: so especially if you're coming in say somebody is coming
6:28
Speaker 1: into Birmingham staying with you know, family, Well they might
6:32
Speaker 1: ride around see a for sale sign that might get
6:34
Speaker 1: them interested and potentially trying to move here.
6:37
Speaker 2: Right, you know, and you know how you get down
6:38
Speaker 2: rabbit holes too? What do you do? You're riding now,
6:41
Speaker 2: you look and you see a sign? What do you do?
6:42
Speaker 2: You google it? What's the first one that comes up?
6:44
Speaker 2: You know, one of the websites that houses goustygoliscrip dot
6:47
Speaker 2: com comes up. And then and then what do you do?
6:50
Speaker 2: You click on it? Right, and then it starts showing
6:52
Speaker 2: you and you aren't looking like, oh I'm not I
6:54
Speaker 2: can't pay that much. But that's only that. But what
6:56
Speaker 2: it really does is then it starts suggesting other ones,
6:58
Speaker 2: and then you start scrolling and then you're then you're
7:00
Speaker 2: going down the rabbit hole, and then all of a
7:02
Speaker 2: sudden you start going like, well, hey, honey, do you
7:03
Speaker 2: see this? Have you seen this one?
7:05
Speaker 1: This one? This?
7:06
Speaker 2: I like this one right here. I'm not saying that
7:08
Speaker 2: that's what everybody does, but it grabs us to you,
7:12
Speaker 2: and so I do think that's that. Yeah, that little
7:16
Speaker 2: pull up we get in December, I mean, that's that's
7:20
Speaker 2: That's what makes sense to me. How about that.
7:22
Speaker 1: Well, now, I'll tell you I've got multiple folks that
7:24
Speaker 1: want to get in by the end of the year,
7:25
Speaker 1: and whether it's getting in for you know, Christmas, holidays, whatever.
7:31
Speaker 1: But I can tell you in the last week, now
7:32
Speaker 1: that we've finally passed this government shut down, thank goodness,
7:36
Speaker 1: get it away from us. We're back in business. And
7:39
Speaker 1: I think real estate is back in business for sure.
7:42
Speaker 1: And so I've had more calls in the past week.
7:45
Speaker 1: I've been busier in the past week than I've had
7:48
Speaker 1: probably in the last six to seven weeks. And I
7:51
Speaker 1: think that's completely aligned with the government shut down. So
7:55
Speaker 1: I'm really excited. I know we've been talking about calm
7:57
Speaker 1: before the storm for the last I don't know, a
7:59
Speaker 1: couple of months. But we're kind of this buyer's market
8:03
Speaker 1: and I feel like, are we going to shift now
8:05
Speaker 1: that more people are coming in and like multiple offer
8:09
Speaker 1: situation down Highway to eighty this week. I'm waiting to
8:12
Speaker 1: hear back if we're going to get it. Well, I'm showing.
8:16
Speaker 1: I'm showing houses, and I've got folks that are that's
8:19
Speaker 1: down between just a handful of houses, what is going
8:22
Speaker 1: to be their next option. I've got people coming in
8:25
Speaker 1: town four holidays there you go, that are wanting to
8:29
Speaker 1: move back to Birmingham and we're looking at different options
8:32
Speaker 1: for him. And so now I had had a phone
8:35
Speaker 1: call earlier this week. I've talked to them for I
8:39
Speaker 1: don't know how many years, two, three, four years about
8:43
Speaker 1: buying a house. Finally this week I even got a
8:47
Speaker 1: FaceTime FaceTime He's like, I'm ready, I'm ready, We're ready.
8:52
Speaker 1: So I'm excited about that and uh yeah, So, I
8:57
Speaker 1: mean we're getting more energy in the real estate market.
9:00
Speaker 1: So I'm feeling I'm feeling a lot more confident than
9:03
Speaker 1: I have really the last you know month with the
9:06
Speaker 1: government shut down, so I'm ready to rock. And so
9:09
Speaker 1: I think, you know, if you're sitting you're sitting back
9:11
Speaker 1: and you're thinking, like, all right, what is what's what
9:14
Speaker 1: am I going to plan to do in twenty twenty six? Like,
9:17
Speaker 1: the conversations are happening now, you know, do I put
9:21
Speaker 1: my house on the market in January, whether it's March
9:25
Speaker 1: through May whenever, because there's a lot of preparation in
9:29
Speaker 1: getting some of the houses ready for market. The conversations
9:32
Speaker 1: are happening right now. So if you're sitting back, you're
9:34
Speaker 1: kind of thinking like, hey, you know, it'd be kind
9:36
Speaker 1: of nice to move into a new house, you know,
9:39
Speaker 1: but I've got this, like, you know, three and a
9:41
Speaker 1: half percent rate and I don't really want to to
9:44
Speaker 1: move on it, but hey, rates they're kind of reportedly
9:50
Speaker 1: reportedly potentially coming down. Yeah, so the projections are coming
9:55
Speaker 1: down into the fives. And I think that's going to
9:57
Speaker 1: make it a lot, a lot easier for a lot
9:58
Speaker 1: of folks to get back in the market.
10:00
Speaker 2: I agree, And I mean, and I mean, if you
10:03
Speaker 2: think it's potentially that you're going to be listing your
10:04
Speaker 2: house in the spring, talking about planning, right, so what
10:07
Speaker 2: what do most people do this time of year to
10:11
Speaker 2: their house, they start decorating it for Christmas, right, yeah, Okay, well,
10:15
Speaker 2: then there's a there's a process after Christmas have taken
10:17
Speaker 2: all the crap down and putting it all up. Yeah,
10:20
Speaker 2: but there's also some set up and some staging you're
10:22
Speaker 2: going to need to do when if you're thinking about
10:24
Speaker 2: listing your home and cleaning out and doing stuff, so
10:26
Speaker 2: piggyback it together. I mean, if you're already going through
10:28
Speaker 2: the processing of Christmas stuff, go and be thinking about like, hey,
10:31
Speaker 2: what do we need to go and put up to
10:32
Speaker 2: start thinking about getting the things together and moving some
10:35
Speaker 2: things around and then and getting ready to list that house.
10:38
Speaker 2: Because it's a process. I did it last year, in
10:41
Speaker 2: this past year, and I mean it's it's it takes
10:43
Speaker 2: some work to be ready to get it, to get
10:44
Speaker 2: it done. Yeah, and so I just kind of planning
10:47
Speaker 2: that together.
10:48
Speaker 1: Well, if you're kind of thinking about this and maybe
10:51
Speaker 1: living the Alabaster area, We've got an open house this
10:54
Speaker 1: afternoon from two to four and uh. And so with
10:58
Speaker 1: that being said, I think we need to talk about
11:00
Speaker 1: our game. Let's do let's do the game.
11:02
Speaker 2: So we do have one open house today. So we're
11:04
Speaker 2: gonna we're gonna play the game for once. This is
11:05
Speaker 2: gonna be for all the marbles.
11:07
Speaker 1: The marbles, John marbles.
11:10
Speaker 2: All right, I've got the marbles. You're trying to win them.
11:12
Speaker 1: Do we not have any of just out in the
11:14
Speaker 1: break room or something. You know.
11:16
Speaker 2: JT's lost to Sorry, he's getting some shrapnel from in here.
11:23
Speaker 2: We were talking with JT's two weeks. All right, you
11:27
Speaker 2: know it's it's kind of easy, Okay. The rules of
11:30
Speaker 2: the game are, yeah, So Gus, he's gonna go through
11:33
Speaker 2: the details of the property and all the cool things
11:35
Speaker 2: and some of the key features. At the end, he's
11:38
Speaker 2: gonna give us the most important part, and that is
11:40
Speaker 2: what the purchase price is, at which time I will
11:43
Speaker 2: give a potential down payment that the bar may make,
11:45
Speaker 2: and then Gusty and John will guess the thirty of
11:47
Speaker 2: your fixed principal interest only monthly payment. That's all there
11:50
Speaker 2: is to it there.
11:51
Speaker 1: It is all right, that easy, all right, So we've
11:53
Speaker 1: got to open this afternoon in Alabaster one O nine
11:57
Speaker 1: Shelby Farms Drive. This is in the Shelby Farm subdivision
12:02
Speaker 1: of Alabaster. This was built in twenty seventeen. It's three bedrooms,
12:06
Speaker 1: two baths. This is a cute garden home with fourteen
12:08
Speaker 1: hundred and eighty one square feet, and we are asking
12:12
Speaker 1: two hundred and eighty five thousand. This was built in
12:14
Speaker 1: twenty seventeen, so it's got, you know, those newer updates,
12:17
Speaker 1: the granite countertops, the screen porch, the fenced yard, the
12:23
Speaker 1: I mean, just it's a community that has sidewalks and
12:29
Speaker 1: I mean it's just a super convenient area. So AnyWho
12:34
Speaker 1: one oh nine Shelby Farms drive open this afternoon from
12:36
Speaker 1: two to four, two hundred and eighty five thousand. I
12:39
Speaker 1: guess I'm on the clock first.
12:40
Speaker 2: You were on the clock first, and since we only
12:42
Speaker 2: have one today, still gonna be on thirty or fixed.
12:45
Speaker 2: But we're going to go twoenty five seven percent down seven.
12:49
Speaker 2: Just everybody knows people don't just put down even five percent,
12:52
Speaker 2: three percent, ten percent down payments. Sometimes people put down
12:55
Speaker 2: six point three percent. They've got just a number they
12:57
Speaker 2: want to put down. It doesn't matter what the percentage is.
13:00
Speaker 1: I actually point out I'm not using a calculator, So
13:02
Speaker 1: there's gonna be a lot of guesswork with seven. Yeah. Literally,
13:06
Speaker 1: I think in the five years of us in the show.
13:09
Speaker 1: We have never done seven percent. Now, We've done three
13:11
Speaker 1: percent now and again, but nomber seven never seven percent now? Okay,
13:15
Speaker 1: all right, interesting.
13:16
Speaker 2: Inch, make make it part of your fifty year mortgage
13:20
Speaker 2: plan that you're working on. Yeah, I must put seven
13:23
Speaker 2: percent down.
13:24
Speaker 1: Okay, seven percent down at two eighty five, I'm gonna
13:28
Speaker 1: go with let's go. Fifteen hundred dollars sounds a little
13:38
Speaker 1: too round for me. I don't really know what I'm
13:44
Speaker 1: doing here. Yeah, you do? You beat me last week?
13:48
Speaker 2: Yeah, I think it was a fluke seventeen hundred, seventeen hundred.
13:52
Speaker 2: The actual payment was sixteen forty. John Mounts gets the.
13:56
Speaker 1: Do not know what I'm doing two weeks in a row.
14:02
Speaker 1: Quit now be the John mount Show. Wow, holy moly.
14:08
Speaker 1: We congratulations John, look at you. I still get to
14:10
Speaker 1: come this afternoon, right, Yeah, for sure? Absolutely?
14:14
Speaker 2: Yeah.
14:16
Speaker 1: You get free admissions. Santa Santa Hey, we've got a
14:20
Speaker 1: couple of buyer needs. We've got We've got somebody looking
14:24
Speaker 1: uh in the Highway to eighty area. Uh. They would
14:28
Speaker 1: prefer to be around five fifty or up to five fifty.
14:32
Speaker 1: And so if you're in Brook Highland Meadow, Brook Eagle point,
14:36
Speaker 1: I'd love to have a conversation with you. They could
14:39
Speaker 1: go a little bit higher, but we're trying to avoid
14:42
Speaker 1: having to sell a house to buy a house. I've
14:44
Speaker 1: got somebody looking up to four hundred thousand near Rocky
14:47
Speaker 1: Ridge Road. I've got multiple people looking in the Edgewood
14:50
Speaker 1: School district in Homewood, literally all price ranges. So if
14:55
Speaker 1: you've got somebody in Edgewood, if you're in Edgewood listening
14:58
Speaker 1: and considering selling your property, love to have a conversation
15:01
Speaker 1: with you. And then I've got somebody near Graystone, YMCA,
15:05
Speaker 1: I'd love to have a conversation with you up to
15:07
Speaker 1: three point fifty. I've got a cash buyer. We've been
15:09
Speaker 1: looking for a little bit and just can't find the one.
15:12
Speaker 1: So maybe you own the ones, So all right, those
15:16
Speaker 1: are our VIP buyer needs. You can always go to
15:18
Speaker 1: Gustygoulisgroup dot com or you can go to call us
15:22
Speaker 1: at two O five five four to two nineteen ninety six. Hey,
15:26
Speaker 1: guess what time it is. That's right, it's testimonial time. Hey,
15:33
Speaker 1: we've got a bunch of like we've got three today.
15:36
Speaker 1: Holy moly. All right, I had an excellent experience with
15:40
Speaker 1: Kyle to purchase my property in Birmingham. He was extremely
15:43
Speaker 1: knowledgeable about the local market and helped me identify the
15:46
Speaker 1: right opportunities that aligned with my goals. Kyle's communication was
15:50
Speaker 1: top notch. He kept me updated every step of the
15:54
Speaker 1: way and was always quick to respond to any questions
15:57
Speaker 1: or concerns. Kyle goes above and beyond to make the
16:00
Speaker 1: entire process smooth and successful. I highly recommend him. So
16:05
Speaker 1: congratulations on your new home and Kyle. Congratulations on another
16:10
Speaker 1: five star review. This one is for TJ. TJ went
16:14
Speaker 1: on a journey with us throughout the process. That's funny.
16:17
Speaker 1: I like that. I like the start of that journey.
16:19
Speaker 1: Went on a journey. We hit some bumps in the
16:21
Speaker 1: road on a new build. We went under contract with first,
16:24
Speaker 1: then went through two other offers and walked away from
16:27
Speaker 1: all three before finding our home. He was patient, kind, tenacious,
16:32
Speaker 1: and handled all my questions with grace. He has a
16:36
Speaker 1: breath of fresh air and his attitude as sunshine on
16:39
Speaker 1: a cloudy day. How about that. I highly recommend working
16:42
Speaker 1: with TJ during your home search. You will have the
16:44
Speaker 1: best experience. So congratulations on your new home and TJ.
16:48
Speaker 1: Congratulations on another five star review, and last, but not least,
16:55
Speaker 1: this one goes to Alita. Alita was amazing. I was
16:58
Speaker 1: in a difficult selling situation and she worked with me
17:01
Speaker 1: every step of the way. I'm impressed with her knowledge
17:04
Speaker 1: and ability to adapt. Thank you well. Congratulations on selling
17:08
Speaker 1: your home. And Alita, congratulations on.
17:11
Speaker 2: Another five star review.
17:14
Speaker 1: How about that three this week, let's go let's go.
17:19
Speaker 1: All right, well, y'all stay tuned, especially if you were
17:23
Speaker 1: a veteran or knows a veteran. We're gonna talk about
17:27
Speaker 1: how you can get a VA loan and that process
17:30
Speaker 1: right here on Balt bart and Sold. All right, welcome
17:35
Speaker 1: back to ball bart and Sold, and thanks again for
17:37
Speaker 1: always joining us each and every Sunday morning. Brad Smith
17:41
Speaker 1: with Bradsmithlans dot com cross Country Mortgage, and I wanted
17:45
Speaker 1: to talk about VA loans today. So if you're a veteran,
17:48
Speaker 1: listen up. If you've got a family member that is
17:50
Speaker 1: a veteran or a friend, listen up. You know, I
17:54
Speaker 1: think one of the things that people kind of forget
17:55
Speaker 1: about is you can get into a home with z
18:00
Speaker 1: He wrote money down one hundred percent financing ladies and
18:04
Speaker 1: gentlemen one hundred percent financing, Uh, just by being a veteran,
18:09
Speaker 1: being a veteran and being able to How awesome is that?
18:11
Speaker 2: Yeah?
18:13
Speaker 1: So yeah, I wanted to talk about that today. And
18:16
Speaker 1: you know what somebody needs to be prepared for on
18:19
Speaker 1: you know, getting prepared to buy a house using a
18:21
Speaker 1: VA loan. So it's what kind of information can you
18:23
Speaker 1: share it? So those veterans that are listening out.
18:26
Speaker 2: Yeah, I think I think some of the cool things
18:27
Speaker 2: about the v A loan and and honestly, some some
18:31
Speaker 2: people don't even know if they're eligible or not, or
18:33
Speaker 2: you know, they know they were did some type of
18:35
Speaker 2: military or or did you know, maybe National Guard and
18:38
Speaker 2: other things that maybe think that doesn't apply to them,
18:40
Speaker 2: And so there are different there are different qualifications for
18:43
Speaker 2: v A loans, So I think, you know, I think
18:45
Speaker 2: checking and knowing, hey I did something with military, I
18:47
Speaker 2: don't know if I had enough to get VA benefits
18:49
Speaker 2: for housing, but it's always good to check. If you haven't,
18:53
Speaker 2: you know, we can help you do that at cross Country.
18:57
Speaker 2: There's also v A dot Gov has a ton of
19:00
Speaker 2: for you to go in there and find you know,
19:01
Speaker 2: you submit your forms and or submit your online application.
19:05
Speaker 2: Still ach eligibility requirements are. But I mean, you know,
19:08
Speaker 2: v A is great because it's it's you know, you've
19:11
Speaker 2: got you've got the ability to really go up and buy.
19:14
Speaker 2: You know, if you qualify your income qualifies for the
19:18
Speaker 2: mortgage payments, you can go up to without putting any down,
19:21
Speaker 2: all the way up to the jumbo limits. So you're
19:23
Speaker 2: talking about eight hundred over eight hundred thousand dollars on
19:27
Speaker 2: one hundred percent financing for you know, if you qualify
19:29
Speaker 2: for the payments and then even after that. So let's
19:32
Speaker 2: I mean, we get I mean, I'm not trying to
19:34
Speaker 2: go all on the upside, but just showing you, like
19:35
Speaker 2: what all you can do. So I mean V A
19:37
Speaker 2: V loans have one time construction to permalans we can
19:40
Speaker 2: do so you can do true construction to permanent or
19:43
Speaker 2: one time closing on VA. It's it's awesome that that
19:46
Speaker 2: that that's A that's available. But let's just say that
19:50
Speaker 2: you know you're a veteran and you're you've got something,
19:53
Speaker 2: and you're you're looking at the more and a half
19:55
Speaker 2: million dollar range, okay, and you say, well what do
19:57
Speaker 2: I have to do?
19:58
Speaker 1: Then?
19:58
Speaker 2: Well, so what VA does is V guarantees twenty five
20:01
Speaker 2: percent of the loan amount for the lenders. So it's
20:04
Speaker 2: basically like they're like, it's almost like you're putting twenty
20:06
Speaker 2: five percent down. So so so the VA is the
20:10
Speaker 2: hudd and VA is guaranteeing twenty five percent that loan.
20:12
Speaker 2: So so if you go into fault VA saying we're
20:15
Speaker 2: covering this twenty five percent of it, so then it's
20:17
Speaker 2: just like you're putting twenty five percent down. So for
20:19
Speaker 2: that reason, it's lower risk for the lenders. And so
20:21
Speaker 2: that's why your rates lower.
20:23
Speaker 1: I don't think I've ever heard that explain.
20:25
Speaker 2: That one, yeah, and so and so that so that's
20:28
Speaker 2: the benefit. So if you go over your county limits,
20:31
Speaker 2: so that's what that's what the jumbo limits are, is
20:33
Speaker 2: that your county limits and like around here to I
20:35
Speaker 2: think it's our limits are eight hundred and fifteen eight
20:39
Speaker 2: thirty now, but if you go over that, you've just
20:42
Speaker 2: got to pay the twenty five percent down of the
20:44
Speaker 2: difference of the max. So just let's use even numbers.
20:48
Speaker 2: If you if you wanted to buy a million, if
20:49
Speaker 2: you're if you're VIA, if you're a veteran and you
20:51
Speaker 2: you're VA eligible, and you qualify for it, and you
20:54
Speaker 2: wanted to buy a million dollar house, and let's just
20:56
Speaker 2: say the limits eight hundred. You got it. As the veteran,
20:59
Speaker 2: you've got to put twenty five five percent down of
21:00
Speaker 2: the two hundred ah me for that difference because yep,
21:05
Speaker 2: so you're just keeping everything at twenty five percent down
21:08
Speaker 2: and VA's covering the twenty five percent down from everything
21:10
Speaker 2: below it. Wow, and so so I mean, it's it
21:13
Speaker 2: is amazing what all you can do. I mean, it
21:15
Speaker 2: is one of those things where people like, well, I'm
21:17
Speaker 2: I'm I'm approved to go VA, but I wanted to
21:19
Speaker 2: see what mother options are. I'm like you, there's I
21:21
Speaker 2: don't know what to tell you that. I don't think
21:23
Speaker 2: that personally, I don't know there is a better loan
21:25
Speaker 2: than the VA loan if you qualify for it. So
21:27
Speaker 2: I don't know what else. Even if you want to
21:28
Speaker 2: put twenty percent down, VA still the way to go. So,
21:30
Speaker 2: I mean a lot, you know, So if you're eligible
21:32
Speaker 2: for it or you think you might be. Again, I
21:34
Speaker 2: think I think some of the some of the ones
21:36
Speaker 2: that may not be one hundred percent sure, like if
21:38
Speaker 2: you if you're a National Guard and you were National
21:39
Speaker 2: Guard for six years, then you qualify if you were
21:41
Speaker 2: a National Guard and you ever got caught if you
21:43
Speaker 2: went over I think it's ninety days of active duty
21:45
Speaker 2: at any point from your National Guard service, then I
21:48
Speaker 2: believe you're you can be eligible. And then it's there's
21:50
Speaker 2: another window from ninety to like one hundred and eighty
21:53
Speaker 2: depending on how you were you know, what emergency situation
21:57
Speaker 2: it was. But I mean, so there's a lot of
21:58
Speaker 2: I mean, there's there's a you know between national guards
22:01
Speaker 2: and all military services and stuff. You know you're out there.
22:05
Speaker 2: Another thing, real quick, why don't understand this if you
22:09
Speaker 2: buy if you buy a VA home, If you buy
22:11
Speaker 2: a home, we use a VA loan. That VA loan
22:14
Speaker 2: not only is it assumable, which means you can sell
22:16
Speaker 2: it and that and the buyer can assume your loan
22:20
Speaker 2: and that helps you be flexible and everything else that
22:22
Speaker 2: being military. But but the other the other huge thing
22:26
Speaker 2: is you can you can have more than one VA mortgage,
22:29
Speaker 2: so you can have so when you go to those
22:31
Speaker 2: county limits like I was talking about a minute ago,
22:33
Speaker 2: and they cover that twenty five percent up to eight
22:34
Speaker 2: hundred thousand. Well, if you bought a two hundred thousand
22:37
Speaker 2: dollars house and they use that twenty five percent guarantee
22:40
Speaker 2: you've still got you don't have to sell that house
22:42
Speaker 2: to then qualify for another six hundred thousand dollar loan
22:45
Speaker 2: and still have twenty five percent covered because you've still
22:47
Speaker 2: got guarantee left. So you can convert that VA loan
22:50
Speaker 2: into a rental. You can if you've still got room
22:53
Speaker 2: now if you want now, if you end up using
22:55
Speaker 2: all of it, then of course that's different if you've
22:57
Speaker 2: gone all the way up to the max. But but
22:59
Speaker 2: we've got people that sometimes I'll have you know, can
23:01
Speaker 2: have two V mortgages or like I said, they bought
23:03
Speaker 2: a three hound thousand house, multiple under eight hundred, multiple
23:06
Speaker 2: under eight hundred. Wow, and so and it's primary residences
23:09
Speaker 2: and you can't just go buy a bunch of best
23:11
Speaker 2: that way, but it's there. So I mean like they're
23:13
Speaker 2: I mean, theoretically you could buy a house. You asked,
23:15
Speaker 2: if I go six minutes and we can go. I
23:16
Speaker 2: was able to go six minutes pretty pretty swiftly.
23:19
Speaker 1: Look, I thought that dude, solid information. I think if
23:23
Speaker 1: you're a veteran, you've got well, first off, thank you
23:26
Speaker 1: for your service. But This is a thank you for
23:29
Speaker 1: your service, like.
23:30
Speaker 2: From the Veteran's Day two weeks. It's that time of
23:33
Speaker 2: the year.
23:34
Speaker 1: Anyways, Hey, go to gustyguilisgroup dot com if you want
23:38
Speaker 1: to get that home search together for our veterans. We
23:41
Speaker 1: do not charge an administrative fee, so that's another little perk.
23:45
Speaker 1: So yeah, yeah, gustygilisgroup dot com. Thanks so much for
23:50
Speaker 1: joining us today. Brad, good to see you. Thanks for
23:52
Speaker 1: all the solid information.
23:53
Speaker 2: I hope everybody has awesome Thanksgiving.
23:55
Speaker 1: Happy Thanksgiving to you. John, congratulations two weeks in a row.
23:58
Speaker 1: Thank you, Happy Thanksgiving. Ye