You're listening to real estate radio Boston wins -- -- -- on talk thirteen seventy. Now might -- in studio when you're post local real estate and finance experts state couldn't stuff it's. Good afternoon but it -- real estate radio with stately in -- the most important our radio every Sunday right here on talk thirteen seventy from four to 5 PM. Our goal is to empower our listeners by educating you about every aspect of your next to real estate transaction. I -- your host Stephen mistake clean minimalist numbers 274124. I'm sitting here with my esteemed colleague. My co host my good friend mr. Jason steps how would you -- and doing good today stately man -- we're glad to have you back making a tale of -- the -- what it's like the -- the radio that last shows will be strange -- studio in you of course leave the guy behind -- our our master at work -- there was here but other than that that it was just me sitting -- -- -- Obama itself looked around -- quiet just rattling around it -- on a lonely -- I would imagine -- -- lovers go fill up. TO forty minutes of talk time without having them have having a buddy here my goodness it was quiet we do get -- we -- -- -- we had a good show but tough enough of that and what have you back plus she had on our two weeks off -- -- The word is the time -- it's almost Christmas. Spirits. A couple of days out there in Louisiana you know in the wall -- In an eight. Days and evenings into -- pedals back that up a little bit as the Wally you will. On the show August voiceover talk about fried turkeys you guys were can do 1718. We were we did do in thirteen. Their teacher lessons a big disappointment in the a lot of birdie. I -- in the reinforcements. And I have my brother in law and my my wife's uncle Reagan and a couple other guys I'll help of media. Doctor of the birds again prior history you wanna be Allstate commercials just waiting to have pride. So we you know we took the team approach I this year and we all got together and tried him but we even tried two of them in though -- these things called. When is that it's not a radiate cooker -- infrared the other day OK and man what a bunch of garbage that really is. -- -- game all cigarette itself safer it sounds cool you know it really is the convection ovens -- I mean that that that he just doesn't go directly on the bird like swirls inside this. It looks like a big frying pot. And they were good but it didn't it and takes a different than just throw in the -- for six hours snack ratcheted it took him to. But anything about the fried Turkey is that kicks in you know forty minutes fried Turkey -- -- for all off the bone used to use cheese that I immediately just can't beat it. Says you know you to give little cajun -- voter injected in the event -- -- allowed -- I was thinking about it every board in about 2 o'clock in the morning -- How many Novak who forgets -- It sadness but man here we Geller or moving on into. You know that the Christmas season him you know it's it's the holidays. I just don't know when I'm gonna have time to do anything I mean with what am I supposed to have time to shop we've got now. Where the mortgage business -- it's the end of the year. Summaries and everybody -- To buy a house at the and it's project time and it just seems assuming things going on I mean I just. I haven't done any shopping at all nothing I bought not one thing a much secret elf at the office I think I've I thought taking care of that person but other than that. -- zero presents Micah Curtis second town from. -- for an eight days -- the -- ace and oh my goodness I cut some crazy cold and I was down almost all of last week. And I haven't got the Christmas lights yet town -- fatigue and that that's one of the cool things you know lenient with you we talk about real estate on the show and you wouldn't you actually own your own home in the -- -- -- -- taken a few hours every every season and just be proud of simple stuff you know like. Putting Christmas tree and in -- lights on on your house you'll her family's house it's just. It it's it's almost like you you know when you get their first job that that feeling that you -- deep down inside of pride. And happiness when you get that first job at the same thing when you actually sit back in your -- live your Chara. And just didn't -- way. You're living your village where your home it's a different feeling no doubt about it and you've you've you notice that you recognize that we're not just a little thing to go to the mailbox put up your Christmas sites mean doing. Thanks to your own home -- feels different. Yes refer sure it's. If you if you have about a house before. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Later on today but says again it is the Christmas season so I gonna say one of the of the few things that I am eventful for. Everyone I'm thankful for my wife kind of way. She is an elf yes pretty much and she handles. It's old the at the Christmas shopping right that's it in the end thankful for Amazon affable. It was a high and high are tight and every -- I can do all of a Christmas shopping in the better part of about 45 minutes on Amazon in the left. You know for a hole like ten days before Christmas every day it's like Christmas have you heard the update the sixty minutes deal on Amazon they're gonna start they're trying to use drone delivery. Jack keeps being of a picture of a drone on foxnews.com. With the Amazon logo on and I couldn't figure out what they were doing I have read about yet. RAM well. I've I don't know specifics out of mobile halt altering of the that would my -- circle back around that one but trivia that's slower on the street. Drone delivery. You know Google Google nobody thought Google could do the Google Maps and before they started out there walking inside business as a street view actually taken it to another another level Arab -- walking in companies. Taking full 360 pictures imposing that on street view from -- partial businesses yeah I have even heard about that -- that's craziness. Florida relentless progress that they had little bit more to do -- -- so let's go back to what we talked about for the better part of two months after you were. Remodel DS so you're you're in the house and why he's feeling good is -- good. You're didn't -- be in there you're you're hanging decorations for Christmas. Is there anything now looking back on a -- thinks that you missed their -- experience and for you -- that guys if you're just tuning in this is real state radio state. Stubbs why am Jason subsite -- my family my wife and I. I just at a home remodel and that we we completed it. How were in the house for happy on the whole thing was get this thing done before you between a 45 day sixty day window which we did -- she's pregnant and and -- -- sure some of you can cannot. I understand how that that that -- -- -- guess but yeah we're we're in there and -- you Stephen to -- question about you know what I learn and you just little bitty things. Not -- we got the big -- on the one inch by six inch trim which was awesome it's beautiful. But example you don't win when they connect the pieces together I mean they just stay tactic to the wall. And they painted over so now I can see the transition area so. Used to take me on to do myself I'll go back in the -- kind of seeing that there's sort of bond -- thing that you can put over decreases so you would peace meets piece you can see those creases everywhere in the -- in the corners and you just when you run out of run out of that space and you put in boards together you can see what they're under the transition pieces so. We go and they are saying those down in repaying them we usually what they do misses this is what we did what we we did our -- need to -- years ago. Is you just take quite talk. That's exactly it definitely -- got a better something -- out -- states -- for this reason so it's easier to paint over it holds paint better but saying it you're exactly right that's that that's the same same type deal. I was real simple process -- -- and cock of the entire top. Of the trim were -- the wall yes is one big long line in the and that kind literally took his -- he's. It rained his -- over the top all the way down the entire line and running a perfect in Dickinson and it makes special tools that you buy at Home Depot for the has yet. It it may have made a perfect smooth service all the way across as such you know after only only this guy so it's little things you know but what about learned -- mean I would say that the most of the two biggest things. Well let me just say three I would save job. Master plumber -- electrician you've got to have those guys on board at at certified licensed those guys got to be good electrician -- don't mess that stuff than what you're good at that but if you're not. You know YouTube problem want somebody that's not just a handyman -- in here you know working on your plumbing and we've got all the beautiful speed at Talbots reports -- in the bathrooms and we might have to get in there again so you know that brings to the the third thing that. I've learned from this and you gotta be good at purchasing materials. You know focus we have a place that I bought -- All my towel from. You'd think by such a huge stock of a that they give it to you discount price a problem as you come down a -- 68 months a year later and you need to replace summer few brick tile they're not -- You'll find anywhere in the world and their -- done well so -- my contractor was bright and hooked at least tell me that. Whenever I -- like Clinton with one of our rooms I think was 11100 square feet now -- that's way too much and -- like 800 square feet -- -- and they were like all right would get enough hardwood for 900 -- us in just in case up 10% over what they -- so they say have a flutters and decide how hot water exactly heater breaks and have enough left overseas and you can get -- -- I've got enough now. Which was a good but it was a good thing but. Yes I got if you're if you're interim owner element you got a question does went through it we have not posted. Pictures of my home yet but we got -- rafters -- out there now we'll try to dispose of cornea so I think I think your wife is is waiting for it to be fully -- now and then it'll be likes you know the cover of home and garden variety -- -- -- but it's yeah if you guys have any questions on and on who to hire as far as plumbers electricians I mean I've got some guys up -- -- -- hornets one -- Out and I took me three -- electrician but not -- not gonna go now. Gathered the stuff -- remodel was it was really a one of the neatest things we've done on the show where literally you take a house. If he buys the house that he could steal -- ten or twelve grand worth of upgrades in it. Plus -- have four to forty it was a change 3231. -- we put so we'll I think at the end of the in the year of play about 20/20 5000 until it OK so 25 yeah and -- -- similar ball -- 300 street gas so that's. Just fantastic that's that's every. Every real estate person's dream is to go into a house like innocent. It actually Jason made it come true which I'm -- as early impressed present everything they did well let's take a second Tina we could not do the show every week. Without our sponsors. So I wanna I wanna take a second think. Ron quit hero -- the CEO of the real state radio network at San Diego. They are are our biggest sponsor -- networks sponsor -- -- -- -- guy weighed in with -- had insurance police and Tiffany over there will patent law firm. Salmon knock in with Texas this critter -- AT hasty with -- power washing again guys. If you need anybody and in these fields all these people are fantastic to work with you can get in touch with us at 512. 91988. Or find us on the web. Real estate radial atx dot com to contact information for these folks let's help support to local Austin businesses yes. -- I will work for running a little bit low let's go ahead and let's go ahead and take a break coming up after this break we've got mortgage matters -- -- the cool tech app of the week to be talking interest rates loan programs. How they feed you when your credit needs will also be talking about the do's and don'ts of Trulia and zillow you won't want to miss this. Stay tuned. Real estate radio Austin with stately and -- hosted by local real estate and finance experts Stephen -- we -- -- and Stubbs. The purpose of the show is to help consumers understand what's really going on -- our local real estate market. We are teaching you the wide in the how to. So you'll always be one step ahead and everyone else. Whether you need to sell your home for top dollar refinance and save money or even by your first investment property sickly and Stubbs can help. -- directly by one to 91988. That's 51291980s. Take advantage of speaking its nuclear subs anytime you're an original -- transaction. Having someone who can answer all your questions truly cares about you and your family's best interest is -- -- stately -- to day you'll be glad you did. By one to 91988. That's 512901988. Or you can visit real estate radial atx dot com for more information. You're listening to realistically go off. -- Now here's -- even. And welcome back Austin, Texas you're listening to real estate radio with stately in stat -- you can always reach us on our off air hotline at five point 291988. Or find us on the web. At real estate radial atx dot com all right guys -- knicks who were after the break. We're segment to we've got -- the need do we like to do everywhere it's a while it's called. Tech corner we get a really there really -- tapped for this week. This thing is pretty cool now -- It's you gotta be careful what will you do with these types apps is as far as trusting all the information on their but yes -- -- elected -- this happen is. I'm one of those guys -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- that place costs -- for this this apple actually do have three okay this this app is called homer snapped one word. Home snapped like snap your fingers and basically. You snap a photo of the house with hopes that it's gonna give -- the 411. On your dream lake house released army if it would be he would dream lake cast. Immediately getting go holy -- how much is that thing costs and that is the better part of you know five million bucks. They're ready to take over -- what was that guy can do for a living new commitment that he's probably done mortgages headaches and that's how does that affect the fifth. But it does some other stuff to it the app helps you identify which homes have good investment potential which is pretty cool. Even has an option to show an appreciation. Potential and how much your your house will gain an appreciation over the next few years. The app also has a social component to your story your favorites and see what your friends are looking at. You know let's just hope you're not beating on the same piece a realization would get a little bit touchy this. Also like estimated home values. I'm gonna tell you how many days this home's been on the market how many rooms on the square footage schools ratings all that stuff that's important too you know what I think school about his. You know let's just put it in perspective as far as you know just daily life if you go two -- you baby shower if you go. To be a holiday party you're walking up to someone's house -- ever been before I mean you can just a couple steps back snap a picture they'll take everything about it there really need to know about this -- -- -- a -- call it creepy but I'm -- pretty innovative and that's pretty -- happy nobody. -- just two KB guys that come heads up on the sings a mean you can follow the money sometimes I think in end yeah we were not -- promoting this -- bringing it to your attention but. Sometimes. You know it's. Did they -- they're kind of lead generating companies and this one is not necessarily that you can opt in. Two this still. Or not so if you want to add shrimp formation like -- is on the market and you really want that info that the realtors are getting you're gonna have to fill out. An actor -- or register with them it's called the stream and the string bass cool -- Will allow real city just get in touch with even if you don't and it happened didn't mean it -- -- can just play around snap pictures of your neighbor's house your boss' house. Sprinkle yeah you know -- -- a type in the address and -- have to try to find the agent on line you're literally just taking a picture of the house -- and I guess it's taken a GPS signal something well I didn't and it's it's two powerhouse China research a little -- I'm not really sure what they're doing except for it fits. Yeah they're taking Google street view. In their actually coding you know that picture from the front of your house from Google street view so they're actually coating -- that picture comes in two. This application it's already signed DNA if that house and then their use in the same record set that truly -- zillow. And alas although -- or use and so that's that's my guess. Did you just say DNA for that now that's. That's that's her back to work and get that this. -- -- How well anyway -- again it's it's homer snapped one word -- snap it's a free app it's compatible with the iPhone. The iPod Touch the iPad of course. But it does require IOS five point oh or later it's also available for the indirect route those few folks out there that are may be used to give -- Jerusalem but yes iPhone well. Yes speaking of these type apps you know we're gonna talk a little bit about some -- and -- You a lot of people like to go online and search houses that's kind of the first step yet everybody does because. Eddie Clinton is that you don't wanna go straight after I talked to real terms maybe your little bit shy. You're just not quite ready to. To go out there and do the full shot -- CC go online you just kind of -- look in York city new -- -- behind PJ is a whole lot pattern the economy and it's fun to crew here your look and adding your daydream about these houses but there are some things that you need to be careful with -- Yeah so what what are some of those deals. -- mean you know I think we're we fallen down to issues is when you look at true until I mean their their application is just gorgeous she needed the way that you can search so he could move around the functionality of its impressive and I think it's almost more impressive than -- assistant that we use set also -- realtors dancers look prettier it is for your assets are. Anyway if you. If you don't have -- for a -- apologized but you don't it's easy to use. In its attractive to the -- so we're kind of drawn into you to believe that this is that the real true deal and and it's not a had a conversation with second McCarthy realty Austin just earlier on in the weekend. -- he gave the example of an an agent that terms are Klein has. That found a home on on done zillow. And assault that it was so 30 no I'm sorry it was up 4191000. Dollars. And he was he he was wanna go to take a look at it was a brand new build. Anyway long story short Kevin comes out talks a builder it's starting price 650. So -- you gotta be careful because a lot of these folks can go inter property your interest something forced sale. Just to generate a phone call also they're using it Carl -- lead generating type tools now I got you so you just can't -- -- you can't take it literally. You if you're looking an awful red blood trail which which I saw a new build red blood trails condos there right around 300000 dollars and green you're talking in west like for 300 -- -- that didn't sound right so. I actually checked him out on me it was not to the case I mean it's just people have the ability to go on there. And put a home for sale does not. Necessarily there so just do not take -- literally fell and that's a great deal for them they'll let me see if they they've got a house for six feet. Then all of a sudden they get somebody calling on the smoking dealer for nineteen in. They've got a lead on fire in the 400000 range which is a big deal for somebody sit -- and that's when you kind of comment so you know the conversational we've had before or previous shows of you be careful and you know this is why it's important how to make a real city two on your side and we can help you find those people. You know so you have allies in the licensed agent you know there's there's several. Different ways of farmland but we can definitely help in and cilantro is not taken place so. Now definitely not a week you know every week we try to bring up. Local professional on the show we -- from -- Stubbs do in this exist today. But. It we really appreciate realtors who will come on here and talk a little bit about their business and everybody we bring on here he is a proven. Professional proven professional in this marketplace. Who is a 100% referral -- these guys -- -- lead generation places where there there literally just spanning everything in trying to get he leads. These are people are referred by friends of friends of friends that do a great job to do a great job for you to use so. From everything always reach out to us at five point 291980. Gator fight it's on the web -- real estate radial -- dot com. We can put you in touch them with one of these realtors and somebody who will take great care view and your family. Which is it was it. Vastly important when it comes to your first real. An example here a militia say that you're looking for an income generating property if you're out there you know and how she got a little money sit there. You get in the market you wanna buy second home or investment property we call a mailbox money you're looking for some mailbox money you don't want. An agent that does not know how to take the market value of the purchase price they can pull rental cost to where if you wanna own this thing and have a rental property that is income generating. I think it's important find someone that's good at doing that and we got those do not every agent is good at finding the right property negotiating. Contract negotiator is very important. And also just it's that mailbox money it's -- the you know after your taxes insurance press one interest what's left over. -- your mailbox and I think it's important foreign agent that specializes in investment properties we gonna be -- want. Exactly and we've we've got that we've got agents that. Especially as an investment properties -- we've been having agents that are also licensed contractors. Who not only can they he'll -- -- that next flipped that they get also helped keep guide through the process of the remodel and of course -- here -- is happy to do it also yes but second we've got all these folks righted her fingertips always feel free to call us. 51291988. That's our off air hotline our business on the web contact us through website -- real estate radio. -- dot com. All right guys I'm gonna cut this -- a little bit early as we got a lot lot to talk about in the next segment. We're gonna go into mortgage matters going to be talking about interest rates. Talking about all the different -- core programs and how they pertain to you you won't want to miss this stay tuned. Buying and refinancing of property is stressful. So why can't stress -- closing in on top of that spirit patent law firm and our goal is to provide a smooth stress free closing for you and we take our country club attitude -- servants -- we raise the bar and all facets of the title industry we have multiple locations throughout Texas Spanish speaking in escrow officers and are available after hours on weekends and during holidays and visit PL FTC dot com for info patent law -- raising the bar for closing services. Did you know that insurance is the second leading expense and the economy and with health insurance rates rising at a record pace and property tax going up and home insurance rates increasing 30% year over year people are fed up get a true choice on your auto and home insurance with a guy -- aborted -- sauce tonight at -- -- insurance. Doucet will shop your rate stood dozens of carriers don't fight -- best rates -- your home not a role for a true -- -- -- women at five point 206914086. That's five point 206 time 14086. Being denied home loans can be devastating to you your future and your family. Don't go and getting a mortgage alone talk to us that -- is best credit repair and build a realistic roadmap. We can improve your credit score by 100 points in just 45 days whether you've been declined alone for a first time home buyer we have the knowledge and tools to help you get approved. Call us at 51230. Wait 6004. At Texas best credit repair dot com. Texas best credit repair local service delivering real estate results. You're listening to real estate radio lost it was -- and stuff. On talk thirteen seven. And welcome back Austin, Texas you're listening to real estate radio with stately and -- -- can always reaches thoroughfare hotline at five point 291988. Or find us on the -- real estate radio. Atx dot com. All right segment three generally would do this segment to sandwich to things up a little -- you don't like to do crazy news as well. -- you could have a we're gonna bounce into our business. Jason and of course our our employees of supreme lending. We are the Texas team has -- we've got -- branch over off. When 83 in the OPEC we have 28 employees strong and seventy loan officers tons of support staff would we pride ourselves a -- lending in. The only competitive interest rates that we're not some cut rate. Crazy Internet scam artists early you every -- -- trade under the sun we have competitive interest rates -- trees were in line with all the big banks in town but were we standout. Is our processing and underwriting and we are closing loans in the eleven to fourteen days literally all the time and didn't stop -- we wanna do this all the time. But system it times at times come up work where people have a bad experience of one of the big block banks. And the bargaining gets behind and all of a sudden they're like well you know we're gonna to push this thing back probably a month. Who can really win a month communion a seller pain -- Yeah realtors pain aching to get the seller threatening to their fifty dollars per day passed the contract -- is not that the way to get into so those people ballots over to us yes which we typically would have been you know the first referral but. Sometimes people feel more comfortable right with the babies and platinum money seems likely would be better but it's just not the case mean agents out there. You artists -- one thing you can look out for when your agent writes a contract for 45 days. You know that's just not it is it ought to just means that they're probably gonna send you over somebody who really -- know what they're doing now so we're we're console getting fallout from the big banks and -- but a lot of the local little mortgage banks here in town. Because were fast now we're not gonna be the cheapest in town. But service costs a little bit more there with us -- -- service are you eleven to fourteen they close if you have to. We prefer Hedo and nineteen to 21 day clothes which is still you know top top 1% as -- the city and I honestly don't know of any other company. Any other legitimate company in town they can close. A mortgage transaction in literally ten -- have. Mean it's it's his it's unheard of us we do that day in and day out over supreme select let's talk a little bit about mortgages would like to touch on interest rates everybody's always interest in and it with the interest rate market is doing. You know. The numbers. Are showing that the economy is growing yes but at the same time. The manufacturing data is slowly. So we're trying to figure out what's that balance right between you know. Well I should say Wall Street is trying to figure out what's the balance between hiring and in the manufacturing being downed wire people hiring when manufacturing is going down well it's because the manufacturing was up. In all these companies produced all their goods and service for the holiday seasons rights holiday season I mean how fleeting and now they're slowing down and now all the big box stores are hiring. To get people ready to make all these purchases they get clear people fill up that Home Depot store to help others custom burst. So that that the figures that come out in the news are always mixing your always wondered -- worse this economy going and the truth of the matter is none of us really know. He just gonna get a sit back and -- take it day by day and just I like to try to pay not too much attention to it can I just in the beating Matt Kutcher did anything. I mean it comes down the importance of it as it ties and our business of mortgage industry is it it comes on your rate I mean I think he's a couple months back we talk about this just about every week about the rates are just not that -- I mean they're just not we'll talk about the Indian up I mean where where are we currently work well that's -- -- up of thirty year fixed. And it you know like to go to Freddie Mac dot com because I can't can't quote. Supreme lending interest rates on -- because we can't give you up and I figured it eight PR right. But seven Freddie Mac is saying that the conventional thirty year fixed in this is with a 740 credit score and in you know 10% down -- -- and four point 5%. So it's up a little bit of its course it's way up from the three and a half of the summer. The four and a half statistically and historically is still in it's it's still great. It is. I mean average home price in Austin is you know it's getting up there in price and it to be able to get you know couple 100000 dollars for under 5% this is impressive it's it's. Right you definitely -- even if -- at this rate at -- half right now you were predicting rates are gonna be in -- fives after Q1. But says jumping here's why you're still in the fours get that that that rate locked and secured a new bit of that house -- -- that loan for a long time you want to refinance out of -- half percent -- now this year. All right submitted on the fifteen year fixed the fifteen year -- to solicit still sitting pretty at 3.5 percent. -- government loans your FHA your USDA your BA are covered writer afforded quarter. In your Jumbo loans here's the neat part the Jumbo loans which are your big ninja loans over 470000. Are covering right now for a quarter so it's actually happening out. Did the Jumbo rates have been have been pushing the limits of that the conventional rates here a lot over the last two and a half months and now the lower. When have we seen this last. I don't remember ever I I have either. You have been doing this for ten for twelve years now she's almost forgotten right behind it and I don't ever remember the SP in the case it's -- then thing is is that you know. The Jumbo market is controlled by the Jumbo and Baston and other conventional market is is controlled by how the Fannie -- thirty year fixed cells on the market for a so. They have more control. Over their interest rates and -- Fannie Mae loans to do so right hell the minute Jumbo loan think of that. You know left a six or 700000 dollar loan for a quarter who who what it what a deal -- me whenever it's lower than the the conventional loan. You know all you folks out there and Wesley -- with curator does -- mortgages -- -- gonna have to -- This is still could be refinanced -- you do definitely if you weren't able to take advantage of the last year year and a half you know really you're out there Wesley you're like well how much money is. Born half vs my five and a -- really gonna save me. I donated a thousand our house. Probably about six or seven dollars a month so let's put it out there I mean let's say that you're sitting out there you're you're listening and you know the -- Jumbo -- -- in if you're not sure if you have a Jumbo loan or not you probably don't but. If you have one you know so let's just say I mean what at what rate do you think coming just off the -- remarkable to this but what rate if you if could that you currently hold right now should you take a peek into refinancing. Well kind of the rule of thumb and every looking refinancing as you wanna try to get that rate at least 1% and where you are right now Erica. And that's just based on the DC you're gonna -- breakeven point of rolling out your monthly savings vs all the costs it's gonna take to do that refinance you wanna -- get it down about 1% -- -- five and a half right now into and a look at. You know for a half for a fourth quarter and -- a perfect time if you're over five and a quarter you should really look at this but if if you're in the -- forced him. Don't know spend your money I think you're better off these -- probably not gonna stay in that house for the majority of the loan term just just asked to get out with that every in the four she'll be fine. -- our guys. Well those -- rates right now let's let's move in we're gonna start mortgage matters. Talking about your mortgages forever guys if you're just tuning in this is real say radio with -- and Stubbs and we're talking mortgages we do this segment every week. We just went over interest rates little bit now we're gonna get into the meat potatoes about some mortgage written about mortgage products size for the exciting world of mortgage products what did you that's what you've got. Played a lot of people think about mortgages they just think oh what he and get normally a thirty year fixed her fifteen year fixed -- working well the truth is. There's a lot of different types of mortgage products that go along with these thirty or 60. The one that everybody always thinks of you to your conventional -- senior conventional loans are going to be your Freddie Freddie Mac in your Fannie Mae loans. Basically either any loan from let's say 50000 up to 417. Is the cap. That's a traditional mortgage loan if you put less than 20% down you're probably gonna have PMI your private mortgage insurance and lets you put a second lien. On a bad boy which is something that we don't do it be if your interest to the net and conventional loans. -- to end of November allowed for 3% down but folks that is gone yeah house there at the new down payment requirement for conventional loan is 5%. Beautiful. But heavenly thing is they do allow that 5% now it's the new ruling to place this month to be defiance. All right that's where. And it's it's it's a great deal so you know they had the 3% down loan but it did allow -- -- funds will now unified percent of -- on the allow for five person gift. Which is kind of almost like up like an FHA loved art. But. Of excellence from a credit standpoint. You know -- we can go down to a 620 if you got a 620 -- go to Mitchell you're gonna have to put 20% down right. He got to get up -- -- 65660. Range you can put less than 20% down just to get it to go through the automated system. But but that's did the basic logistics of your your conventional mortgage and it's going to be great for anybody who has good credit and good job a little bit of a down payment. Nearly deferral a real long term long term mortgage whether it's a thirty year fixed or fifteen or whether you're really flush right now and you wanted to attain your fixed me and that's a great yeah great product -- electric car loan now. You get goes all the way down a three quarter right now. Debating a credit a down payment and stuff but can Mitchell's a great way to go so let's let's move down to FHA you know FHA used to be 50% in the marketplace right. Average increase their mortgage insurance premiums. Earlier this year so it's really not 50% anymore it's probably. I'd say it's 3030 to 35% of the market but it still. A huge impact product governments trying to get out of business a little bit. They they all our butts. We got some good news for all you folks looking for an FHA loan. January 1 the FHA loan limits here in Travis County in the surrounding areas are gonna go up to 305000. 900 no that's like your sales price. That's your loan loan limits that means you can be looking ahead. -- 3161000. Dollar house and still get into it with three and a half percent down and it. Kick but interest rates now -- gonna have a little bit of PMI and the monthly mortgage insurance on -- on an FHA loan is high but. And FHA is a very little product yet it allows for a wide range -- credit score you cannot get penalized for having a 660. We -- got a 660 -- 720 you're in the same rate. Which you know if got a 720 you're not happy about that if you -- -- I learned that higher rate but that that's the FHA to government product and it's a great product but again we bitch in this and other shows that subtle long term product. Use an FHA loan to get into that house what you've been in a for a couple years you're comfortable with the payment refinance out of that thing. You wanna get rid of that at much higher. So let's see here and again that's what's hard about credit scores -- FHA we have an FHA product because although I don't 600. All right. Giffords is barely 599 and that it's super low that you have to have some good things going for you gotta have three trade lions. You -- have a debt to income ratio that's under 40%. There there's it's a manual -- right which means it won't go through the system so there are some catches to that alone he'd compensating -- that he senses exactly so we feel like you to be in at 62640. Range. Will help you get your credit up a little bit if you need to you that's one of the things we helped with. In our off as if we see a couple of credit card the need suggesting and we seem easy -- points and your credit card with a just with a little financial strategy now. We'll help you get that do we re discs do Reese or a week or so. And it builds your into a great rate FHA loan rather than a low. Low credit score FHA program which is gonna have a higher interest rates are usually the two minute to about quarter to half percent so what about those veterans out there. Well we'll talk about the veterans a little bit but I think we got to take a quick break. After the break we'll get into the VA -- little -- Jumbo loans we're gonna talk hard money loans USDA loans. And then a couple other neat tidbits for you share with you what went missing any of this state to. Real estate radio Austin with stately and stunt hosted by local real estate and finance experts Stephen stately and Jason Stubbs. The purpose of the show is to help consumers understand what's really going on our local real estate market we are teaching you the -- in the how to. So you'll always be one step ahead and everyone else. Whether you need to sell your home for top dollar refinance save money or even by your first investment property sickly and stuff can help. Told them directly by one to 91988. That's 51291980s. Take advantage of speaking its nuclear Stubbs anytime you're an original listing transit. Having someone who can answer all your questions truly cares about you and your family's best interest is -- -- -- -- to day you'll be glad to 51291988. That's 512901988. Or you can visit real estate radial atx dot com for more information. You're listening to realistically your. Now here's -- even. And welcome back Austin, Texas you're listening to real -- -- with -- and -- river -- can always reach out to us on our off the air hotline at five point 291988. Or find us on the web to realistic radio. Atx dot com. How much of the back into mortgage matters you're just opportunity and we're talking about mortgage products we did talk about interest rates already. The cool tech apps that tell continued talking about mortgage products a little bit. Really want the VA loan. Hands. You know. VA loans are of course for veterans -- -- to take a second wanna sincerely think all the men and women of our armed forces passed in president served for this great nation. They Q. We owe you a debt of gratitude we appreciate all of you out there and everything you do for us. And for that reason -- VA program is one of the greatest programs out yeah. I love the VA -- personally you do a couple of these amounts such ideas as he did a couple of months had to be eight Jumbo loans which is -- VA loan that goes up to like 600 K -- a great product it is but you VA loans. Again liberal product it's government product -- a lot of these guys from the armed forces and gals go over there to begin a stand on Iraq. And it can't take care of their personal bills here at home because they're gone right and their credit wounded being affected it'll take a little bit so when we come back they can have you know 660 when he. Is somewhere in the mid 650s a lot of times they don't even work on that credit wants to give back. But the VA loan allows you go to the 620. Would you was is fair to say that this is the two -- if you are -- veteran this is the vessel nothing. It is in less Europe veteran with a 740 credit score to 20% down payment cuts at the VA loan is the best loan for years ago all right there's no monthly PMI no monthly mortgage insurance -- any of the same interest rate is. Actually a little bit better than your provincial interest rates and about the same as your FHA rates that allows you to go to and a sixth when he credit score which is which is fantastic. No mostly PMI and again it's a 100% financing which means zero down folks -- we can even use four and a half percent. And seller paid closing cost the seller to pay for reps in your closing costs DT to this house for. Fifty bucks out even get your earnest money back sets the table so you -- he's got checked out veterans out there and you go 1% down and heard it's many get back at the table -- that on the leather couch now and moving to your dream house we take advantage of this loan. Are you vets out there it's it's a great product he deserve it. Even you putting your time come by your dream house. We do VA loans up every day processors level tomorrow underwriters level more good I don't care if they're not as typical loan. You know basically. Can have a pulse and he -- have a six week credit score higher. Just a little bit of money in the bank it's not the you're gonna use it but he liked to have a little bit reserves which is some money left over after the purchase. And you have a full time jobs that can't -- it's not a difficult road to get any goes all the way up to 4171000. When a 100% tiny success and get some room in there. Right let's move in to. The USDA. Yeah I USDA is this United States Department of Agriculture now I'm rarely this conversation because people here and walked apparently they got a little extra money left over flow where you know they have a big giving -- up to the farmer who was. But at this is a 100%. Financing amid the purpose. The USDA -- -- it's it's to improve -- or help stimulate local. Our rural economy so is a -- by inserting. You know new people into the smaller towns these these -- rural places you you're you're kind of hoping that economy grow. He definitely are in the neat thing about these rural owns its USDA -- it's a 100% financing. It's got a very very very small monthly mortgage insurance payment -- point 4%. Any upfront PMI your upfront mortgage payments her mortgage insurance premium is only 2% so it's it's better than me FHA for -- it's a 100% financing. This thing goes up to -- to -- forty thousands -- you're looking at a house. In the surrounding areas you know a little -- stuff Lugar bill or maybe a little bit north west of Cedar Park apparently in your area. Some -- places out there with USDA. And again just like the VA we can DT US supreme lending the Texas team -- yes -- you know this being her US TA loan for literally. A hundred bucks -- -- house for a hundred bucks. What are my good friends Mississippi much I -- that you Max out there beautiful little place on a few maker -- liberty hill just a few months ago great community. Fantastic a barbecue cook -- out there it's a tight knit community all the Little -- -- -- football -- -- anyway we got him a deal that there are literally -- mean this property for hundred bucks and he was ecstatic. I I recommend this to anybody especially first time homebuyers. It's it's a it's a tremendous product if you will live outside town a little bit so let's move into your Jumbo loans and we talked about the -- mentions a little bit earlier. Your Jumbo -- going to be any loan amount over 417 to house. Specifically eligibility get to 20% down. Yet to have at least to 700 credit score unity get have a lot in town -- solid assets slots reserves -- these investors like to see six months where the reserves. Six months -- mean six months for the payments in the bank. After you close. But today it's not always 20% down so if you're sitting in that riddle house over Wesley right now on your thing and in I'd like to bide his placement. I 20% down on 600000 dollars while the cool thing is we actually have a product where we can do 4171000. Dollar first -- Do we do 150000. Dollar second lien and you can put 5% down on the 600000 dollar house -- literally 30000 dollars down. Putter that he does not secondly 4171000. Are -- -- you mean you would what would be a Jumbo loan for only 5% down. And we do that all the time invokes the supreme -- Your -- give us a call if you wanna find out more information about that Jumbo product 51291988. Or you can reach out to listen. Email us through the web it realistic radial atx. Dot com. Are the last the last loan product -- wanna talk about this is something that nobody ever talks about but it's it's actually had a great a great deal it's called -- hard. Money loan yes this means is not a traditional lender it's not a bank this is typically an investment group. Folks there and -- have cash they're willing to get into. You know a big equity position in a property that you're interested in. That's usually require at least 25% down maybe 30% or more just depending on what type what type transaction it is. Credit score is usually not an issue. If it's an investment property you know it in -- typically is not an issue if it's if it's a homestead. Even the hard money lenders they've got to prove. The release of a 40% debt to income ratio of this an investment property they don't they falls outside the federal guidelines though if there were restrictions are very very low. These that you don't wanna get into what these for a long term transaction. It's not for a long term. Transaction and it's just not built that way. What Cecil kind of rates can we expect you think from you know the hard money and I have seen these anywhere from 12%. I've seen in my late June 18 to 2100 company in town that's doing a -- team really. You know receive our talk about this little bit. The other day and an -- mark take on this is -- if you're gonna get in a flip the home on the you've got to have a plan together -- get your scope -- work environment you're mature as you do all your your your background and your research in the news you've come to the table in Iraq you know -- look this is just an outside the box type deal. I've got potential of X amount of dollars to make I think if you can calculate the cost. Of your loan and your interest -- let's just say I'll do. Worst case scenario it's even -- 18% or 15%. On the money that you borrow if your flip and how how long you need. To me three months four months six months even it it at 68 months you start in an exit strategy in that would just be lowering the price of your home. Just to get it sold get off the books that at the end of well you're remodel. Or the end of your flip. And I think it's fair to say even a 15% that you can take that money and look what you spit in interest over the life of your loan which is only hopefully -- three months four months but even eight months if you look at the money that she stepped. Or -- your interest only twelve or 15% loan you would be. Surprised. Of how little money is. It's definitely worth that I -- I heard a lady speaking on one of the other realist you radio shows. There's a hard when he -- on the air excuse oh my gosh who would pay a 15% interest right. But the fact of the matter is. You don't pay 15% now for thirty years our tournament short term transaction the life of you won't get a chance of making thousands of dollars on this flip now. Any time you go into a flip out. Make sure you've got some money in the bank and try make sure your financially protected. It's their real estate is a dangerous business -- insurance left over at risk if this thing is again that you or your family under. In the market can turn any time of my feeling got caught in that back in the late eighties we. -- -- we were bankrupt -- really really rough time. When I was you know ten or eleven years old and it was it was tough in Austin a lot of families. We don't have to respect him for sure just strategies to -- exactly so if you're looking at maybe you'll be hard money loans the most important thing is. Mean you're gonna have to throw some money in the deal because you're gonna put only 30% better more into the transaction right but. Don't be concerned with the interest rate naturally be paying nothing for a few months -- don't be scared of that so. Some of the things you can deal with these of course you do an investment property flipped. You can do a long term investment property we don't recommend it if you don't want it to -- long term property at 12%. But you can even do a primary residence. And the reason why this would be good is let's say. I yourself simply didn't end -- you've only got eleven month history and your belt. Me and Fannie Mae once you have a 24 month history of being self control self employed doing incomes showing income to tax returns using your net income. Well maybe your net is super low Richard gross and Bruce is -- in May be one more years where the tax returns you're gonna be able qualify for that house right now you don't. Yet when he 5% down look at what he's hard money loans yes it's gonna cost you some money over the first year but guess what your family gets that house. They needed to refinance that thing after year -- trigger. Shall mortgage Audi and B I think it's even safe to say that you can take the money that you gonna spin on hard money loan. Take that high interest rates compare that to your appreciation depending on what area you are in town and it you might breakeven in some cases. Yeah you definitely could you definitely can all right guys. That is that's the gist of them. The most popular. Mortgage products out there and others also mothers and their like commercial loans and construction loans but. Those are few and far between the ones we went over with here the most popular loans out -- the ones we see every day over Texas team it's pretty living. For every to reach us off air are off air hotline at 51291988. Or find us on the web real estate radial atx dot com. Hi guys we wanna give you we're gonna close of the show would just some basic tips some tips to having include. Real estate transactions hey this is this a staff that's gonna make your life a lot easier when you buy this next house. And in buying a house a stressful enough for -- you're talking about the biggest investment you'll probably ever make the most money you'll ever spend on anything. And then you're to have people like me crying in your life and asking you all kinds of questions about your finances and your credit score why do you do this when he recorded one. It's just it's not it's not simple case of do not go into real estate transaction like it's a car loan it is not. We asked for everything short of a drop of blood and just prepare yourself for that all right so so basically your tips for good transaction number one. Try to get real turn trying to. I -- finding good realtors incredibly important we have good realtors on the show every week reach out to me or stubs -- put you out of touch with somebody. That's a great folks over realty Austin's a great folks that luxury realty -- Tyler William -- highly realtors I mean we know everybody was twelve years in this business. 242 years in the business between me and Stubbs. We worked with just about everybody we know who's good we know who's not to reach out to us if you want to never to. This was near and dear to my heart. Kinda -- lender. For a fact finding good local lender do not to work with a mortgage company and a Boston you don't work for the mortgage company out of California. You wanna be able to drive over to that person's office get -- if they shake their hand. Look at their eyes and know that you're getting a good deal if if you need to get they've got to be experience in Texas lull some we've got our federal so we got our our states. Forms I mean it's important that you find somebody specializes in the state of Texas did this and of course we can help pew. That supreme winning the Texas team -- -- call us anytime five went to 91988. All right. The third biggest thing is -- a home more teenager -- gonna tell you this but. Yeah basically when you buy a house that's very lived and it's a scratch again and -- at this house has some years on it. Everything in that house eventually ruled deteriorating you'll have to get something replace getting home wore T. Eight easily last for the first year sometimes two years so when you move and that thing at the AC goes out hot water heater goes out the full house floods -- -- forbid I mean. The -- -- tile and carpet in her under 500 dollar there's chief and the seller will usually buy it for. Usually in and I would make sure that your agent knows that because most selling. Listing excuse me will put these on so you gotta make sure that your agent on contacts -- listing agent to make sure that that are more -- on their out of -- recent bottom on that time he did not have on on their. Right hit a home fourteen I can't stress that enough in just a few little tidbits. Did just -- -- yourself less stress all right. Do not try to close in two weeks and we can't if you want us to but don't do it it's gonna stress you out it's mistress you and your spouse out you're not to like each other for the better part of fourteen to these -- Do not played a vacation guys don't play a vacation a day after was close on the house as things go wrong with. Things happen where maybe you won't even get those keys to the next day don't put yourself in that situation. Don't hide your movers to come in fact our -- today closing just don't do it say officials stressed but I guys. Well that's the end of hard show. We hope you learned a little bit more as you move forward towards that next home purchase will be covering much much more in the coming weeks -- remembered always to me. To real estate radio with stately and steps every Sunday fortified PM right here on talk thirteen seventy have a great week. -- Austin, Texas. Not all applicants will be approved for -- home loan program -- -- annual interest rates have -- them and are subject to -- approval. Supreme lending is not affiliated with the government agency. Supreme lending corporate an analyst -- 2129. Branch an imbalance like 895250. Court. 8800 business hard drives me 200 Austin, Texas 7875 and a supreme winning it's an equal housing opportunity lender.