Kyle Porter and I will behelping you decipher what’s on the radar for mortgage rates and thehousing market. Remember, mortgage rates are NOT tied to the FederalReserve Rate and are affected by inflation, supply and demand,lending regulations and agency fees. Stay with us throughout theshow.

Where do youwant to be with your financial goals? Let’s explore what YOU canaccomplish with YOUR mortgage goals. Connect with me atwww.TNRDHomeLoans.com (901)492-0354 This email address is being protected from spambots. You need JavaScript enabled to view it.

To YourSuccess,

McKenzie Mortgage RD Loans,Mortgage Loan Officer NMLS#757308

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PREPARE FORTAKE OFF…

Goodmorning, Memphis! Welcome to our internet listeners and podcastlisteners across the 50 states! You’re on Real Estate MortgageShoppe. I’m your host, McKenzie Mortgage RD Loans, Mortgage Loan Officer. You canconnect with me at www.TNRDHomeLoans.com. Our general topic TICKET TO YOUR MORTGAGEDESTINATION FOR GETTING THE BEST TERMS ON YOUR PURCHASE LOAN ORREFINANCE—DON’T MISS YOUR FLIGHT. Subscribe to get Real Estate Mortgage Shoppe podcasts with show notesat www.TNRDHomeLoans.com Call uswhile we’re live today September 19, 2020 at (901)535-9732.

Backin the co-host chair we have Kyle Porter, manager of Sierra PacificMortgage in West TN and North Mississippi. Kyle is affiliated withHomes For Heroes. He tenaciously powers our team over at the mortgageoffice, giving the loan officers the resources and support weneed to better serve our mortgage clients andrealtors. (Kyle introduces himself and whatthe Cordova, TN and N Mississippi branches of Sierra Pacific Mortgagehas to offer our customers and realtors)

(Jo) Toour listeners, Have you ever been looking forward to flying to thatexciting vacation adventure on the once-in-a-blue-moon bargainairline ticket price, and almost missed your flight? That couldhappen to so many people who are meandering along, assuming mortgagerates are going to stay low because the Federal Reserve says theywill be keeping their ratelow.

IntercomAnnouncement —MORTGAGE RATES ARE NOT TIED TO THE FEDERAL RESERVERATE. Here’s your view from 30,000 feet: Mortgage rates areclosely tied to the bond market yields and when we see inflationbeing allowed to burn a little hotter, the bond market, historicallyhas quickly reacted by sending the price on mortgages higher. Asecond view from up high is that the overseeing agency for Fannie Maeand Freddie Mac is about to add an “adverse market fee” to a bigportion of the mortgages backed by Fannie Mae and Freddie Mac. Today you can still get a bargain mortgage though. What do YOU wantto accomplish with YOUR mortgage? Make your plan. Work your plan. Ifthe deal works for you today, let’s do it today. Connect with meat www.TNRDHomeLoans.com

Kyle, pleaseshare some of the home buying and refinancing scenarios you areseeing where our clients are experiencing the best bargain in a longtime.

(Kyle toshare examples of clients he is seeing who are getting a good deal on

1. Buying a home
2. Refinancing to lower their rate and payment
3. Refinancing to lower their rate and shorten their mortgage terms
4. Refinancing to lower their rate and rolling into their mortgage some very high interest rate debt to free up cash flow on a low fixed rate. )

(Jo)Another area we are seeing our mortgageclients win is taking advantage of the low mortgage rates to go aheadand move up to thelarger, more expensive home. Some of our clients are buying themove-up homes so they can move their aging parents in with them underone roof. Others are buying bigger to bring their younger family members backinto the home

THEMUELLERS STORY-RELOOK AT YOUR OPTIONS FOR MOVING UP TO BIGGER ANDBETTER

Buthere is a story I have shared before that paints such a perfectpicture of why buying up to the larger, more expensive home worksnow, leveraging fromthe power of the lower interest rate.

Maynard andMarlene Mueller (not their real names) had yearned to move for acouple of years now to a more upscale neighborhood where some oftheir friends live. But the price tag on the monthly note would havebeen $800 higher than what they were paying then on their currenthome. That plan was insanely outof reach for them in 2018.

However, thisyear the Muellers considered the deep dip in the mortgage ratesTOGETHER with the simultaneous spike in their current home value. Nowthey finally could make the positive pivot to the bigger, beautifulhome. They sold their current home at top price and took the$300,000 net profit and put it down on that more upscale home with a$200,000 higher price tag. Their payment was a little higher thanthey were paying at the old place, but making this transition todaywith lower rates compared to 2018 made the $300 bump in payment veryaffordable–a happy day for the Muellers.

You’reon Real Estate Mortgage Shoppe. I’m your host, McKenzie Mortgage RD Loans, MortgageLoan Officer. What do YOU want to accomplish with your mortgage?Make your plan. Let’s work your plan if the deal works for youtoday, let’s do it today. When we come back Kyle Porter will betalking more about where to find your financial opportunities in themortgage market. See you back in just a moment.

THELOOK BACK MEMPHIS TRIVIA CONTEST

^2ndsegment after 9:15 break:OurLook Back Memphis Trivia Contest is brought to you by notableMemphis historian, Jimmy Ogle.Twelve of his Memphis History lectures entitled MakingMemphis – Storytelling by Jimmy Oglemay be viewed by Googling “JIMMY OGLE PINK PALACE”. View atJimmyOgle.com.. The Look BackMemphis Trivia Contest is sponsored by John and Jennifer Lawhon ofLawhon Landscape (901) 754-7474 the Lawhon’s can help you plan yourlandscaping if you have a BIG, BIG project or a smaller project oryou can do the big project in phases . The Lawhons are giving away a$25 gift card to the first person with the correct trivia answer. Ifyou know the answer to our trivia question, call us at 901 535 WREC901 535-9732.

Garner# 186 * 09/19/20

HerbParsons Lake

Question: I am a well-known outdoorsman and have a public Tennessee state lakenamed for me just south of Fisherville. Who am I?

Hint: I amhonored in four different Hall of Fame establishments in America.

Hint:I am also known as the “Showman Shooter From Somerville.”

Hint:Ducks Unlimited at Shelby Farms displays his Duck CallingChampionship trophies.

LastHint: I amnot Bill Dance! Who am I?

Answer:Herb Parsons(Lake). Indeed,everything in Herb Parsons’ life was unique. He was an expertmarksman with shotgun and rifle, a champion game caller, consultantto the movie industry, showman, and wingshot supreme. The factthat hunters still tell Herb Parsons stories today, over aquarter-century after his death, should give you an idea of thereputation he established. Hewas born on a farm in FayetteCounty, Tennessee,in 1908. Fortunately, his was a hunting family. At thetender age of seven, he was given his first gun, a Winchester .22single shot.

Parsons’career began in 1929, when Winchester hired him asa salesman. In the 1940s, Parsons gave 238 exhibitions tosoldiers at military installations. Heserved as a gunnery instructor duringthe war. And when hostilities ceased, he hit the circuit forWinchester, putting on thousands of demonstrations. Doubtless,he was the greatest ambassador of goodwill the shooting industry hadin modern times. Whenthe razzle-dazzle of wild west shows ended, arms and ammunitioncompanies got into the act. But perhaps it was Parsons who roseabove them all in celebrity status, especially among hunters. He possessed a flair for the spectacular and a gift of gab.

Foryears, he was a member of Sports Afield’s trap and skeetAll-American teams. A Tennessee state lake in Fayette County is namedin his memory. Copies of “Showman Shooter” are still beingshown. He occasionally is brought back to life in the outdoorcolumns of newspapers. He was inducted posthumously intothe TrapshootingHall of Fame atVandalia, Ohio, and is an enshrinee of the TennesseeSports Hall of Fame andthe TennesseeState Trapshooting Association Hall of Fame. A dedicated display of his firearms is in the CodyFirearms Museum of the Buffalo Bill Historical Center inCody, Wyoming. Ducks Unlimited headquarters in Memphis,Tennessee displays his duck calling championship trophies.

Jimmy Ogle hasretired fromwalking tours in Memphis. Twelve of his Memphis History lecturesfrom the Pink Palace entitled MakingMemphis – Storytelling by Jimmy Ogle,andnow more than ten hours Downtown Walking Tours are FREE on theinternet at . . . YouTube Jimmy Ogle.

View JimmyOgle.comfor more info!

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TOPICS COVERED BY KYLE PORTER, MANAGER SIERRA PACIFIC MORTGAGE

1. Share some examples of your mortgage clients who have realized the biggest financial wins this year in 2020

1. A home purchase example
2. A refinance example or two

1. What example can you offer to describe the cost of waiting to buy a home or refinance?
2. Talk about what you can offer you mortgage clients through your affiliation with Homes For Heroes. (Share some examples)

1. What is Homes For Heroes Network?
2. Describe the benefits of using a Homes For Heroes Affiliate?
3. Who qualifies for Homes For Heroes benefits?
4. How does the process for using the Homes For Heroes program work?

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TOPICSCOVERED BY JO GARNER, MORTGAGE LOAN OFFICER

1. Jo’s top 3 tips for getting the best terms on your mortgage:
2. Know your personal comfort level on the maximum house payment you can afford.

Many of the financial authorssuggest keeping the total monthly house note (principal, interest,taxes and insurance, mortgage insurance, association fees, if any)under 25% to 28% of gross monthly income. Some of these prosrecommend keeping your total monthly obligations like car loans,monthly credit card payments, student loan payments, and other debts, including your house note under 38% to 41% of your gross income.

Commonrecommendations on total debt ratio (includes the total new housenote (including principal, interest, taxes and insurance, privatemortgage insurance, association fees, if any) plus any other debtsper month divided into your gross income.

Example:

Grossincome: $7,000/month

Newhouse note- $1,400 (principal, interest, taxes and insurance, withsome mortgage insurance) + $25 per month for neighborhoodassociation fee if applicable.

Carloan $400/month

Minimumpayment on the credit card account =$50/month approximately

TotalHouse note + association fee= $1,425/$7,000=20% Housing ratio

Totaldebt = $1,875/month / Total income $7,000= 27% total income-to-debtratio

1. Know your personal comfort level on how much money you need left in your emergency fund when you close on your home loan.

Checkwith your certified financial advisor when you are making financialdecisions. Authors of financial tutorials commonly suggest, if youare in a stable salaried job, that you need a minimum of 3 monthsliving expenses in an emergency reserve fund. For self-employedborrowers, some published advisors recommend a full year of livingexpenses in reserve.

1. Make sure your credit scores are as high as you can get them.

1. The higher your credit score, the lower the rate you get to enjoy. A great credit score is 780 or higher. Good scores are 740 to 779. Average scores are 660 to 699. Scores that might give you a challenge on some mortgage products are below 660. FHA and VA government loan products are more forgiving on lower end credit scores though. You can still buy a home with an affordable payment.
2. You are allowed to pull credit on yourself once a year on www.annualcreditreport.com Go ahead and pull your own credit on all three bureaus—Equifax, Transunion and Experian. Check for errors. If there are past due accounts or collections, you may want to contact them and set up a payment arrangement of some type in exchange for that creditor’s agreement not to keep reporting negatively against you while you are trying to build your credit score. higher.Judgments with a court docket number, need to be satisfied.

Thewebsite www.myfico.comrecommended by Equifax, shows consumers that over 30% of their creditscore is made up by what percentage of their revolving credit linesthey have borrowed. Generally, if you have revolving credit balancesof less than 30% of the total credit line on the card, your scoresare much better than if you use over 30%. It is shown that you losepoints on your credit score if you owe over 50% of the credit line.In other -words if you have a credit line of $10,000 and you owe over$5000 on the line, it is hurting your credit score

Stayaway from 12-months-same-as-cash accounts if you want your creditscores to stay high. These 12-months-same-as-cash accounts scorelike maxed out credit cards.

Don’topen any new accounts and do not add to balances owed on any accountsuntil AFTER your mortgage closes. Compliance requires mortgagecompanies to check to make sure no new accounts have been opened andthey are required to check to make sure you still work at your jobright before you close.

1. Explore your mortgage options.
2. Compare two or three different loan programs to see which one will get you to your comfort level on the payment and move-in costs but will still serve your needs years from now.

Governmentloans like FHA and the Veteran’s Loan and USDA Rural Housing loanprograms are usually a lower rate and closing costs than conventionalloan products. But, if you have high credit scores, your rateswill be good on the conventional loan products too, and you probablywill not have to pay our near as much for the lender private mortgageinsurance if your credit scores are high.

1. Jo’s top 3 tips for getting the best terms on your home purchase:
2. Be prepared. Be preapproved.

1. When you make an offer to buy a home, chances are good that you will be competing with other people who are making an offer on the same house. If you are working with me, I can show you some ways to strengthen your prequalification information. Sometimes the seller is not looking for the highest price offer, but looking for the strongest buyer who will confidently close on time. Let’s talk if you are looking for a lender who can help you with this strategy.
2. Put the best professionals on your team

Theis an old Zen proverb and it goes like this: “It takes a wise manto learn from his mistakes, but an even wiser man to learn from themistakes of others.” By putting a knowledgeable realtor andlender on your team, a good home inspector and closing attorney otherpros, you are getting the benefit and protection of their knowledgeof what to do and what not to do. Make sure they are reputable. Iwould love to sign up to be your lender for life when you are readyfor a mortgage.

1. Position yourself with positive exit strategies for one day when you move or sell your home-Katherine’s story…

Letme introduce you to Kathrine,(not her real name) a first-timehomebuyer whose biggest fear was feeling tied down and unable to movefor better opportunities.

Katherinewas in her late 20’s, out of college and just getting started inher career. She wanted freedom to eat out and have fun after workand on the weekends. She wanted to have that peace of mind that shecould move when and where she needed to get farther in her career.She did not want to feel stuck.

Butsome of her friends had bought their homes. But Katherine did notwant to feel hemmed in or stuck with a mortgage commitment. She feltlike she could never get ahead with her rent going up each month yearand surely there had to be some way to buy a house and still not feelstuck.

Therealtor did some research on the neighborhoods that interestedKatherine. Katherine could buy a house in a neighborhood thattraditionally continued to go up in value year after year Herpayment would be about one-third less than she would be paying inrent for the same type house. The interest rate on the mortgage wasfixed for 30 years, so no more rent increases every year.

ForKatherine, it was all about having some profitable exitstrategies—just in case she ever wanted to move and not be tied tothe house. Katherine could see three possible exit strategies to useif she should ever decide to move.

Thefirst exit strategy considered that the values had been steadilygoing up. She could probably sell at a profit even after only ashort time.

Thesecond possible exit strategy involved the FHA loan program Katherineused for her financing. The FHA program allows for the borrower tolater allow a subsequent buyer to assume that mortgage if they canqualify with whichever bank will be servicing the loan at the time ofthe assumption. In a market of rising rates, having the ability toallow someone to take over her low interest loan, gave her a furtheradvantage for selling.

Thethird possible exit strategy involved the neighborhood whereKatherine purchased her property. It was in a market that wouldallow her to rent her house out one day for much higher than herpayment, which would give her a third profitable exit strategy. Nomore feeling stuck! No more having to worry about how much thelandlord would hike the rent either.

MAKEYOUR PLAN. LET’S WORK YOUR PLAN. IF THE DEAL WORKS FOR YOU TODAY,LET’S DO IT TODAY. Connect with me at www.TNRDHomeLoans.com.Email me at This email address is being protected from spambots. You need JavaScript enabled to view it. orjust call me at (615) 924-6215.

REALESTATE TIP OF THE WEEK (Kyle Porter offers real estate or financingtip –about 1.5 minutes):Kyle talks about the importance of having an experienced team onyour side during the home buying process. A good realtor who knowsthe market, knows what you want and knows how to negotiate on yourbehalf

ANNOUNCEMENTS:

Talk Shoppe offers freenetworking & education to anyone interested in real estate or inbusiness. Talk Shoppe meets every Wednesday 9A-10A CT This Wednesday September 23, 2020 9A-10A CT SergeantMorton Bonds of the Memphis Police Department, Human Trafficking Unitwill be presenting “What You Need toKnow About Human Trafficking in Memphis” You can attend TalkShoppe events every Wednesday virtually by going towww.TalkShoppe.com Click onthe Upcoming Events tab and the virtual meeting address appearstoward the top of the page.

1. Talk Shoppe events are free thanks to supporters like Tim Gilliland of www.BackupRX.com When you need to recover lost data on your computer, you will feel very thankful when you call Tim at BackupRX and simply download all your data and system files immediately when you need it. Contact BackupRX about getting your data automatically backed-up at www.BackupRX.com
2. Thank you to Genell Holloway of Eagle Hollow for financially making Talk Shoppe’s free education and business building available free to our community. Genell can help you with “Insuring your trusted golden benefits” when it comes to Health, Medicare, Dental, Vision, Supplemental including accident, critical illness, chronic illness, and retirement benefits for individuals and small business owners 901.270.1127

4. What can you do today tohelp someone who is struggling through a tough time? Send a card? Make a call? Send a donation? What random act of kindness can youdo today right where you are?

5. Subscribe atwww.TNRDHomeLoans.com and you canget our weekly blog posts with podcasts conveniently in your inbox.

6. Real Estate Mortgage Shoppe reminds you to MAKE YOUR PLAN. LET’SWORK YOUR PLAN. IF THE DEAL WORKS FOR YOU TODAY, DO IT TODAY.

SPECIAL NOTE: REALESTATE MORTGAGE SHOPPE RECOMMENDS THAT YOU CONSULT WITH A FINANCIAL,LEGAL OR OTHER CERTIFIED, LICENSED PROFESSIONAL BEFORE ACTING ORINVESTING ON ANYTHING YOU HEAR OR SEE FROM THE CONTENT ON THIS SHOWOR BLOG POSTS. THE INFORMATION WE SHARE ON REAL ESTATE MORTGAGESHOPPE IS GENERAL IN NATURE MEANT FOR GENERAL EDUCATIONAL PURPOSESONLY. ALL EXAMPLES GIVEN FOR ILLUSTRATION PURPOSES ON REAL ESTATEMORTGAGE SHOPPE AND ARE BASED ON TRUE STORIES BUT CHANGE NAMES ANDCERTAIN DETAILS THAT DO NOT AFFECT THE INTEGRITY OF POINTS WE AREMAKING IN THE EXAMPLES.

QUOTE CORNER:

Henry Youngman “Gettingon a plane, I told the ticket lady, “Send one of my bags to NewYork, one to Los Angeles and the other one to Miami. “

She said, “We can’tdo that!”

I told her, “You did itlast week.”

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REJOINDERS:

1. Bernice Ross, Austin, Texas real estate industry columnist for www.RealtyTimes.com
2. Jana Cardona, Executive Director of Business Network International Mid-South www.bnimidsouth.com Memphis, TN
3. Marx Sterbco, Sterbcow Law Firm New Orleans, LA

Transitional Music: “Jet Airliner”by the Steve Miller Band; “Jets” by Paul McCartney and Wings;“Fly Away” by Lenny Kravitz; “Memphis” by Johnny Rivers forthe Look Back Memphis Trivia Contest

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ABOUT KYLE PORTER, BRANCH MANAGER OF SIERRA PACIFIC MORTGAGE CORDOVA, TENNESSEE

Kyleis a native Memphian that has been in mortgage banking in theMid-South for 20+ years. Specializing in construction lending andfirst-time home buyers, Kyle and his team at Sierra Pacific Mortgagemake it a point to treat every customer and client like they arefamily, making sure each one is given the hands-on attention that isneeded in the mortgage process. Kyle is heavily involved in the realestate community, serving on the Affiliate Board for the AreaAssociation of Realtors and is an active volunteer for Habitat forHumanity and Youth Villages.

ABOUTJO GARNER-MORTGAGE LOAN OFFICER:

WHAT DO YOUWANT TO ACCOMPLISH WITH YOUR MORTGAGE?

www.TNRDHomeLoans.com (901) 482 0354 This email address is being protected from spambots. You need JavaScript enabled to view it. twitter @jogarner NMLS# 757308 (currently working with SierraPacific Mortgage, Inc)

“WhateverYOUR personal priorities are, my job is to help you get the mortgageterms that will give you bragging rights when you talk about it andhelp you score on hitting your goals .”

Asa mortgage loan officer, my job is to help you get to the benefitsyou want from your financing terms. What is most important to you? Ican help you find the financing terms that will help you get to whatyou want. What is your comfort level on a house payment? How muchare you comfortable paying down,? What type of financing do you needto get the house you want to buy or refinance?

Differentclients have different priorities in life—some are buying theirfirst home with very little down payment funds. Some are recoveringfrom medical challenges, divorces or preparing to send children tocollege and some are embarking on a long term goal of buyingproperties to build rental income.”

TNRDHomeLoans is a mortgage officer with extensive knowledge in tailoringmortgages to her customers who are refinancing or purchasing homesall over the country. She offers conventional, FHA, VA or other loanprograms for refinancing and purchases.

Jocan help you look at rent vs buy, when it makes sense to refinance,how to get the best deal on your home purchase financing.

TNRDHomeLoans has been in the real estate/financing business for over 25years. She got her start in Portland, Maine where she firstbegan her real estate career. She received her real estate educationfrom the University of Southern Maine and was personallymentored in San Diego, California by Robert G. Allen, author ofNothing Down,Creating Wealthand The Challenge.

Onmoving back to West Tennessee in 1987, she went into business buyingand selling discounted owner-financed notes secured on real estate. In 1990 Jo went to work for a residential mortgage company and hasbeen a mortgage loan officer for over 25 years. Her goal is tooffer excellent, affordable service to her customers, tailoring theloan programs to the specific needs of her clients.

In addition to her work in the mortgagefield, McKenzie Mortgage RD Loans is the primary sponsor and founderof Talk Shoppe in Memphis. www.TalkShoppe.com McKenzie Mortgage RD Loans also host the radio show Real Estate Mortgage Shoppeairing on News Radio AM 600 WREC and iHeart Radio with podcasts andshow notes published on www.TNRDHomeLoans.com