Special Real Estate and Financing Programs That Provide Homes For Our Heroes

In Benefits, Credit, Downpayment, Finances, financing, Home Buying, Housing Market, Loan Programs, Local Development, Money, Mortgage Loans & Rates, Official Podcast List, Rental Property, Tips, Tricks & How To's by Jo Garner0 Comments

Are you a soldier, a veteran, a first-responder, a healthcare professional or a teacher or you know someone who is serving in these industries?   Today on Real Estate Mortgage Shoppe we will be spotlighting these heroes and sharing some special real estate and financing programs they can use to purchase a home with very little down payment or some extra help from the Homes For Heroes program. 

What do YOU want to accomplish with YOUR mortgage?  Let’s stay connected!  Subscribe at www.JoGarner.com to get Real Estate Mortgage Shoppe podcasts with show notes every week.

To Your Success,

Jo Garner, Mortgage Loan Officer NMLS# 757308  (901) 482-0354 Jo@JoGarner.com

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WELCOME TO REAL ESTATE MORTGAGE SHOPPE

Good morning, Memphis!  Welcome to our internet listeners and podcast listeners across the 50 states! You’re on Real Estate Mortgage Shoppe. I’m your host, Jo Garner, Mortgage Loan Officer.  You can connect with me at www.JoGarner.com.   Our general topic is Special Real Estate and Financing Programs That Provide Homes For Our Heroes. . Subscribe to get our weekly blogposts with podcasts at www.JoGarner.com. Call us while we are live at (901) 535-9732 Today is May 23rd, 2020.  

INTRODUCING JIM AND FAYE JONES, REALTORS CERTIFIED FOR HOMES FOR HEROES

Back in the Real Estate Mortgage Shoppe studio we have Jim and Faye Jones, certified realtors under the Homes For Heroes program.  Jim and Faye Jones produce several million dollars in home sales a year.  They serve their clients from the heart and use their real estate expertise to put their customers on the winning edge in a competitive real estate market. (Jim and Faye introduce themselves and talk about how the Homes For Heroes has worked for their clients)

G.I. JOHN-THE SOLDIER WHO BUILT AN EMPIRE

(Jo) Here’s another rock star client story let’s call it “G.I. JOHN-THE SOLDIER WHO BUILT AN EMPIRE.”  When John first started out, he bought a house in the city where he was stationed using a 100% veteran loan.  He put together a plan to get wealthy during his military career moving from station to station buying a house each move and keeping the other homes for rental income.

The challenge that threatened to shoot holes in his life plan was the fact that the more property he bought, the more specialized mortgage products he needed since his VA eligibility was limited to one or two properties. He needed an experienced mortgage loan officer who could continue to come up with additional mortgage loan programs that fit each situation, so he could continue buying properties at terms that would allow him to make money. 

It has been a joy and inspiration getting to work with John as his mortgage officer.  John continues to build his real estate portfolio.    Since he has done so well with his rental properties, many of his houses are paid off and he no longer has to work.  He is finishing up a long military career.  Now I see pictures on Facebook of John and his wife regularly on a Carribbean Cruise, on a beach, in the mountains and other exotic places. Thank you, John, for your service to our country.   Kudos! to you for making your plan, working your plan, and when the deal worked for you, you did it.

Here’s some benefits of using the VA Home Loan program:

First of all the VA loan is a 100% loan.  If the seller or the lender is paying for the veteran’s closing costs and prepaid taxes and insurance, the veteran gets to buy his or her home with nothing down.   In the current market and today is May 23, 2020, competition to purchase homes is stiff in most of the cities around the country.

The VA loan does not have a monthly VA fee that has to be paid each month.  VA has one lump sum that is added to the top of the loan called a VA Funding Fee, but there is not monthly fee like you see on FHA government loans or the Rural Housing 100% government loan.  This keeps the house payment lower for the borrower. Some funding fees can also be waived under certain conditions

Veteran Home Loans are assumable.   If the veteran is in a hurry to sell the house or suppose the interest rates go up substantially over the next few years when he is ready to sell, the veteran might find someone who would gladly qualify with the mortgage company servicing the loan. The buyer might gladly pay the veteran a lot more in equity to qualify to assume his loan if the buyer is assuming an interest rate in the 3’s when the rates at that time in the future might be in the 6’s or 7’s.   If an eligible veteran assumes the VA loan and puts his eligibility on it, the veteran selling the home can free up his VA eligibility again.

What do YOU want to accomplish with YOUR mortgage? MAKE YOUR PLAN. LET’S WORK YOUR PLAN. IF THE DEAL WORKS FOR YOU TODAY, LET’S DO IT TODAY. Connect with me at www.JoGarner.com   (901) 482-0354.

Jim and Faye Jones, realtors certified for the Homes For Heroes program, tell us a little more about how home buyers can use the Homes For Heroes program and how does it help them financially.  (Jim and Faye Jones launch their topic )

Jim shares the story of the military Captain who bought his home under the Homes For Heroes program and got back a significant amount of cash rewards through the Homes For Heroes program after the closing.

The Homes For Heroes program benefits home sellers, buyers and homeowners refinancing their property through registered realtors and lenders and title companies.    Homes For Heroes benefits military, veterans, police, firemen, EMTs, health  care workers, teachers….

(Jo) You’re on Real Estate Mortgage Shoppe. I’m your host, Jo Garner, Mortgage Loan Officer.  What do YOU want to accomplish with your mortgage? I want to hear YOUR story. Call me after the show at (901) 482-0354   When we come Jim and Faye Jones will be sharing more great real estate tips.   Bill Emmerling of Vista Points will be sharing a quick Talk Shoppe Business Tip for our Real Estate Pros.

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TALK SHOPPE BUSINESS TIP FOR REAL ESTATE PROS

2nd segment after 9:15 advertising break –It’s time to talk shop with Talk Shoppe’s Business Tip For  Real Estate Professionals. Talk Shoppe is a marketing company offering free education and networking to anyone interested in real estate or in business and health and wellness. Talk  Shoppe is made possible by the financial support of its sponsors and supporters. For more about Talk Shoppe, go to www.TalkShoppe.com (shoppe)  For our Talk Shoppe Business Tip today we have Talk Shoppe sponsor Bill Emmerling of Vista Points.  Bill and Vista Points specialize in providing special needs trusts to care for a loved one with a disability.   They can advise and develop the exact right solution to give you peace of mind knowing that your disabled loved one will have the provision they need even if you are not there to provide for them. Bill Emmerling of Vista Points, what is our Talk Shoppe Business Tip for Real Estate Professionals today?     (Bill Emmerling to share his tip )

HI MY NAME IS BILL EMMERLING AND I WORK FOR VISTA POINTS SPECIAL NEEDS TRUSTS AND RESOURCE CENTER. OFTEN, I AM ASKED…HOW DOES A PERSON ESTABLISH A SPECIAL NEEDS TRUST? THE BEST WAY TO SEE IF THE BENEFICIARY WILL QUALIFY FOR AND BE ABLE TO ESTABLISH A SPECIAL NEEDS TRUST IS TO MEET WITH AN ATTORNEY. THERE ARE 3 DIFFERENT TYPES OF SPECIAL NEEDS TRUSTS A BENEFICIARY MAY QUALIFY TO USE.

AN ATTORNEY WILL RECOMMEND WHICH TYPE OF TRUST IS BEST SUITED FOR THE BENEFICIARY’S SPECIFIC NEEDS. YOU CAN RECEIVE MORE INFORMATION ON OUR WEBSITE CONCERNING THE DIFFERENT TYPES OF SPECIAL NEEDS TRUSTS. THANK YOU FOR YOUR INTEREST IN VISTA POINTS. REMEMBER VISTA POINTS SPECIAL NEEDS TRUSTS CAN HELP YOU FIND PEACE OF MIND.

Bill Emmerling, how do we contact you?  888-422-4076 billemmerling@vistapoints.org

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TOPICS COVERED BY JIM AND FAYE JONES OF EXP REALTY

How long have you been in real estate

– how did you get involved with homes for heroes

-how many heroes have you worked with on this program

-any stories stand out that you have worked with

-what about the charitable part of homes for heroes

– is it a sellers market and do you see that continuing

-how important is it when representing a buyer right now to win a contract

– what can sellers do to get top dollar

-are new homes selling fast too 

– what about special loan programs

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TOPICS COVERED BY JO GARNER, MORTGAGE LOAN OFFICER:

  1. Dispel some myths and misconceptions that veterans have about the VA Home Loan that cost them money.

Let’s dispel some of the myths and misconceptions about the VA Home Loan that hold veterans back -causing them to miss out on deals that could have brought them great wealth over time.

Myth:  The VA mortgage can only be used once in a lifetime. /Wrong-  You can use your VA eligibility  as many times as you need it as long as you show enough eligibility.  

Can you only hold one VA loan at a time?  No, You can have more than one VA loan.  Just like the example above.  If you have not used up all of your eligibility, you might be able to qualify for another VA mortgage.  VA mortgages are for veterans planning to use the home as their primary residence.

The VA loan can be assumed by another party subject to the lender’s approval

You can refinance a VA loan on a streamline program without having to get an appraisal. ( this may vary with some lenders)

Veterans getting disability compensation for  service-related medical issues are exempt from having to pay the VA funding fee that is normally added to the loan amount.   Also, surviving spouses of veterans who died in the service or from a service related disability are also exempt from having to pay the VA funding fee and can, on a case-by-case basis, get a VA loan.

In 2019 President Trump signed the HR 299 bill into law.  The VA loan program effective January 1, 2020 allows the veteran to get a 100% mortgage with no upper loan limit (as long as the veteran’s income and credit qualifies for the payment.)  ( The home must appraise for at least the price of the home or more.) You still need to check with your mortgage lender with your specific case to make sure you are eligible for the 100% VA loan.

There are loan limits still apply for those who have more than one active VA loan, only partial entitlement available or those who have defaulted on a previous loan.

“Blue Water Act” changes includes an increase in the VA Loan Funding Fee which is usually added to the loan amount  for all non-exempt borrowers.  Purple Heart recipients are now exempt from having to pay the VA Funding Fee.  There are other types of categories for veterans to be exempt from having to pay the VA Funding Fee.

1st time use of VA Loan purchase 2.3% of the base loan amount. Subsequent use of the VA loan program, the VA Funding Fee is  3.6%.   

(Bill Emmerling shares his personal story of buying his first home in Orange County, California with zero down using his VA eligibility.  Buying that home helped set him on a path of building up equity and wealth from owning a home.)

For more information about the Veteran Mortgage Program:  http://www.benefits.va.gov/homeloans/resources_veteran.asp

  •   OTHER MORTGAGE RESOURCES FOR HEROES:

There are several mortgage programs and combinations of mortgage programs available to help our hero professionals to get into homes with very little down payment with affordable terms too.

If you are a police officer, a fireman or a teacher, there are some special down payment assistance programs offered through the City of Memphis Down Payment Assistance program.   Let’s check on the fund that applies to you because some of the funds on these programs are temporarily depleted.

Tennessee Housing Development Agency has their program Homeownership For The Brave with low down payment and extra low interest rate. 

The Homes For Heroes program that Jim and Faye Jones have been talking about works if you use a Homes For Heroes designated realtor or a designated lender.   Homes For Heroes gets cash rewards for home buyers who go through the program who are active military, veterans, first-responders, health care professionals and teachers. 

Call Jim and Faye Jones to help you as your realtor 901 402-1234, (901) 487-2299, FAYE@FAYEJONES.COM

Call us at Sierra Pacific Mortgage in Cordova, TN.  You can connect with a Homes For Heroes loan officer there also.     I can connect you to the right people and the perfect program (901) 482-0354

REAL ESTATE TIP OF THE WEEK (Bill Emmerling of Vista Points has about 1 to 1.5 minutes to share a tip): HI MY NAME IS BILL EMMERLING AND I WORK FOR VISTA POINTS SPECIAL NEEDS TRUSTS AND RESOURCE CENTER. I AM SOMETIMES ASKED… HOW CAN I UTILIZE THE MONEY IN MY SPECIAL NEEDS TRUST? THE MONEY IN A SPECIAL NEEDS TRUST CAN BE USED FOR THE BENEFICIARY’S “SPECIAL OR SUPPLEMENTAL NEEDS”. GENERALLY SPEAKING, THE THRUST MONEY CAN BE USED TO PURCHASE ITEMS OR SERVICES THAT GOVERNMENT BENEFITS DO NOT COVER. TYPICALLY, THESE ARE NON-SUPPORT ITEMS OTHER THAN ESTENTIAL MEDICAL CARE, FOOD AND SHELTER. SOME ITEMS AND SERVICES THAT ARE NON-SUPPORT ITEMS THAT ARE PERMISSABLE ARE: NONMEDICAL CARE, ALTERNATIVE THERAPIES, OVER THE COUNTER MEDICINES, ELECTRONIC EQUIPMENT, CLOTHING, ENTERTAINMENT, PERSONAL ITEMS, VEHICLE RELATED EXPENSES, EDUCATION AND MUCH MORE. ALL DESIGNED TO ENHANCE ONE’S QUALITY OF LIFE. REMEMBER VISTA POINTS SPECIAL NEEDS TRUSTS CAN HELP YOU FIND PEACE OF MIND.

ANNOUNCEMENTS:  

Talk Shoppe offers free networking & education to anyone interested in real estate or in business. Talk Shoppe meets every Wednesday 9A-10A CT at Concorde Career College 5100 Poplar Ave 1st floor Clark Tower Memphis, TN.  Currently meetings are virtual.  For the website to meet go to www.TalkShoppe.com and click the UPCOMING EVENTS tab.  This Wednesday May 27th, 2020 Talk  Shoppe  presents: “The Mastermind Principle: based on the book Think and Grow Rich by Napoleon Hill

Talk Shoppe events are free thanks to sponsors like Genell Holloway Vice President of www.healthbenefitsplus.org (901) 270-1127

2. This Memorial Day weekend, lets say thank you to our military and veterans for their sacrifice for our freedom.   Thank you also to our first-responders and healthcare front-line workers   We appreciate  you!

4. Subscribe at www.JoGarner.com and you can get our weekly blog posts with podcasts conveniently in your inbox.   

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

SPECIAL NOTE:  REAL ESTATE MORTGAGE SHOPPE  RECOMMENDS THAT YOU CONSULT WITH A FINANCIAL, LEGAL OR OTHER CERTIFIED, LICENSED PROFESSIONAL BEFORE ACTING OR INVESTING ON ANYTHING YOU HEAR OR SEE FROM THE CONTENT ON THIS SHOW OR BLOG POSTS. THE INFORMATION WE SHARE ON REAL ESTATE MORTGAGE SHOPPE IS GENERAL IN NATURE MEANT FOR GENERAL EDUCATIONAL PURPOSES ONLY. ALL EXAMPLES GIVEN FOR ILLUSTRATION PURPOSES ON REAL ESTATE MORTGAGE SHOPPE AND ARE BASED ON TRUE STORIES BUT WE USE FICTIONAL CHARACTERS AND DO NOT DIRECTLY REFLECT REAL PEOPLE OR EXACT DETAILS IN ANY OF THE SITUATIONS.

QUOTE CORNER:  

Maya Angelou “I think a hero is any person really intent on making this a better place for all people.”

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REJOINDERS: 

  1. Earl Leake of Leake Insurance Agency in Memphis, TN (901) 737-9352
  2. Clint Cooper, owner of Redeemers Group (Germantown, TN) Home Foundation Repairs  www.RedeemersGroup.com 
  3. Ella Harris, Tennessee Housing Agency in West TN www.THDA.org

Transitional Music:  “American Soldier” by Toby Keith; “We Can Be Heroes” by Wallflowers; “Hey Brother” Tribute to First-Responders” “Taking Care of Business” by Bachman Turner Overdrive for the Talk Shoppe Business Tip For Real Estate Pros.

ABOUT JIM AND FAYE JONES REALTORS WITH REMAX EXPERTS IN GERMANTOWN, TN.

I have been married over 30 years , have two adult children and 3 grandchildren.

I am from Memphis, attended school here since kindergarten, Graduated from university of Memphis with bachelor’s degree in real estate and finance.  I’ve always had a passion for real estate and helping people but took a different career path.

After working in sales in the food brokerage business for 26 years I joined my wife’s real estate team .  We are Dave Ramsey local real estate endorsed providers. I am a Member of the faith walk community m

Mid-South, Lakeland chamber board director, Officer with the Shelby county sheriff department  as a volunteer,  emergency services / search and rescue division.

After returning to real estate sales  in 2015 Faye sold 8 million dollars in real estate in 8 months  on her own and followed up with 12 million in 2016.  I knew then it was time to follow my passion and join her. As a team we sold over 30 million in sales in 2019.

901 402-1234    

(901) 487-2299 

FAYE@FAYEJONES.COM

EXP REALTY

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ABOUT BILL EMMERLING, VISTA POINTS

Bill joined the Vista Points team in 2019.  He and his wife Lisa currently reside in Collierville and as Bill puts it, ‘I’m not from the South but got here as quick as I could’.  His experience working with a local law firm, as well as The Best Times Magazine have allowed him to become aware of the special needs of West Tennessee.  The remainder of Bill’s sales experience was in the Food Processing and Wholesale Food business.  Bill served in the US Army, while stationed in Germany, during the Vietnam War.

While not at work, Bill enjoys time spent with his lovely wife and being on the golf course.

(888) 422-4076  BillEmmerling@vistapoints.org

ABOUT JO GARNER-MORTGAGE LOAN OFFICER:

WHAT DO YOU WANT TO ACCOMPLISH WITH YOUR MORTGAGE?

www.JoGarner.com    (901) 482 0354  jo@jogarner.com  twitter @jogarner  NMLS# 757308 (currently working with Sierra Pacific Mortgage, Inc)

“Whatever YOUR  personal priorities are, my job is to help you get the mortgage terms that will give you bragging rights when you talk about it and help you score on  hitting your goals .”

As a mortgage loan officer, my job is to help you get to the  benefits you want from your financing terms.  What is most important to you? I can help you find the financing terms that will help you get to what you want.   What is your comfort level on a house payment? How much are you comfortable paying down,? What type of financing do you need to get the house you want to buy or refinance?

 Different clients have different priorities in life—some are buying their first home with very little down payment funds.  Some are recovering from medical challenges, divorces or preparing to send children to college and some are embarking on a long term goal of buying properties to build rental income.”

 Jo Garner is a mortgage officer with extensive knowledge in tailoring mortgages to her customers who are refinancing or purchasing homes all over the country.  She offers conventional, FHA, VA or other loan programs for refinancing and purchases. 

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

Jo Garner  has been in the real estate/financing business for over 25 years.  She got her start in Portland, Maine where she first began her real estate career. She received her real estate education from the University of Southern Maine  and was personally mentored in San Diego, California  by Robert G. Allen, author of Nothing Down, Creating Wealth and The Challenge. 

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

In addition to her work in the mortgage field, Jo Garner  is the primary sponsor and founder of Talk Shoppe in Memphis. www.TalkShoppe.com  Jo Garner also host the radio show Real Estate Mortgage Shoppe airing on News Radio AM 600 WREC and iHeart Radio with podcasts and show notes published on www.JoGarner.com  

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