Who Picks Up the Phone? What to Ask Before You Hire A Contractor or Borrow Money

Who Picks Up the Phone? What to Ask Before You Hire A Contractor or Borrow Money

Do you know who is answering the phone when you call the company you have always counted on for good service at a good price? It may look like this same company on the surface, but is it still a local mom and pop shop…or not?

Questions to ask BEFORE YOU HIRE OR BORROW.

Host: #JoGarner #MortgageExpert 901 482-0354
Co-Host: #EdHill #MastersRoofing 901 273-6594
Featuring: #ChuckBohannon with #SantaClaus book Santa 901 619-6436
Subscribe for weekly Real Estate Mortgage Shoppe podcasts with show notes www.JoGarner.com

1^ST SEGMENT 12 MINUTES

LET’S GET STARTED…(Jo) (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 Originator. You can connect with me at www.JoGarner.com. Our topic today November 14^th, 2026 is: “Who Picks Up the Phone? What to Ask Before You Hire A Contractor or Borrow Money.” Thank you to attorneys Shelley Rothman and Rob Draughon of Griffin, Clift Everton and Maschmeyer Law Firm for sponsoring this episode. When you are ready to buy a home or refinance one, call Rob and Shelley for the title work and closing. 901 752-1133.

Introducing Ed Hill of Masters Roofing

(Jo) Back in the co-host chair we have Ed Hill of Masters Roofing. You have a great reputation for doing excellent work on roof repairs and replacements and assisting your clients with storm damage repairs. You also keep your customers happy with other types of exterior home repairs. Ed Hill of Masters Roofing, take a minute or two and introduce yourself and tell our listeners about some of the services you offer your clients Congratulations to Ed Hill of Masters Roofing for winning two top Memphis Most Community Awards for residential roofing and commercial roofing. . (Ed has about 1.5 minutes to intro himself and talk about the services he offers his clients)

(JO) Imagine you are standing at the foot of Mount Everest. There are two guides offering to lead you across a steep mountain pass.

Guide A quotes a rock-bottom flat fee and promises a fast, easy hike. They hand you a rough sketch on a napkin and tell you not to worry about the details until you reach the base camp.
Instead, Guide B quotes a slightly higher upfront price, hands you a detailed topographic map, and walks through every supply cost, weather contingency, and alternative route before you pack your bags

Once you are halfway up the mountain with Guide A, you discover that “basic gear” wasn’t included, changing weather triggers massive surcharge fees, and the guide doesn’t actually know how to navigate the steepest ridge—leaving you stranded and forced to pay whatever they demand to finish the trip.

This Analogy Maps to Hiring a Contractor or Borrowing on a Mortgage

The Sticker Price vs. The True Cost: Guide A’s low quote is like a lender advertising a rock-bottom interest rate while hiding thousands of dollars in origination fees and discount points. Asking for an itemized Loan Estimate (or written contractor bid) forces them to hand you the full topographic map upfront. Check public reviews on the contractor or mortgage company. I have had people tell me that they decided to go with a different mortgage company because they other mortgage company gave them an official estimate with much lower cost and a lower rate. Two weeks before closing suddenly this other mortgage company informed the borrower that they had to change loan products due to a problem in underwriting and ….WOW…. now they are paying even more in costs than the quote I gave them in the beginning. But now it is too late to switch lenders because the closing date is near. Usually, if a mortgage company is using this bait and switch trick to trap borrowers, they have probably done it to other borrowers too which should show up on customer complaints on their reviews.
Weather Contingencies vs. Rate Locks and Change Orders: Mountain weather shifts fast, just like mortgage rates and construction surprises. Asking “What happens if rates drop before closing?” or “How do you handle unexpected repairs?” ensures you aren’t penalized when conditions change.
Trail Experience vs. Closing Track Record: A smooth talker at base camp doesn’t guarantee survival on the ridge. Asking about a lender’s average closing timeline or checking a contractor’s recent references verifies they can actually get you across the finish line on schedule.
The Escape Route vs. Prepayment and Cancellation Terms: Before stepping onto a treacherous trail, you always ask how to turn back. Checking for prepayment penalties on a loan or termination clauses in a contract ensures you aren’t trapped if you need to refinance or pivot later..

What do you want to accomplish with YOUR mortgage? I can help you find the right mortgage make the mortgage process easy. Connect with me at www.JoGarner.com Later in the show let’s look at the most important questions to ask yourself and your lender so that you can truly have bragging rights when you close your purchase loan or refinance.

(Jo) Ed Hill of Masters Roofing, we have a few minutes before we get to our ad break. What are the best questions to ask before deciding to hire a contractor? (Ed starts launching into some of his topics until break. (about 3 minutes)

OUTRO: You’re on Real Estate Mortgage Shoppe. I’m your host, Jo Garner, Mortgage Loan Originator. What do YOU want to accomplish with YOUR mortgage? I can make the mortgage process EASY for you with the right mortgage. Connect with me at JoGarner.com When we come back, we will be hearing more from Ed Hill of Masters Roofing. We have Chuck Bohannon, booking agent for Santa Claus introducing a special person when we return. Stay tuned.

2nd segment is after first break 8 minutes 50 seconds

( Waaka Waaka song in background ) COMIC QUERIES (you probably already know the

(Ed) Riddle: Which company should you hire if their estimate is half the price of everyone else’s?

(Jo) Answer: The next one on your list.

The punchline: Because the only thing “cheap” about a rock-bottom quote is the quality of the work you’ll have to pay someone else to fix later!

(Jo) Today on Real Estate Mortgage Shoppe, we are talking about “Who Picks Up the Phone? What to Ask Before You Hire A Contractor or Borrow Money.

I’m your host, Jo Garner, Mortgage Loan Originator . For your home purchase or a mortgage refinance you can brag about,. We can find the right mortgage product and make the mortgage process EASY on a traditional mortgage, on special programs and outside-of-the-box mortgage programs too. Connect with me at JoGarner.com

Ed Hill of Masters Roofing in Bartlett, TN 901 273-6594

2^ND SEGMENT 8MINUTES 50 SECONDS

TALKSHOPPE TIP

CHUCK BOHANNON, BOOKING AGENT FOR SANTA CLAUS

(901) 619-6436

Talk Shoppe is one of our major sponsors on Real Estate Mortgage Shoppe. Talk Shoppe offers free networking and education to our local business, real estate and health and wellness community. If you join the Talk Shoppe Sponsor team, you can get a wide variety of marketing venues at a below-market price. www.TalkShoppe.com

Talk Shoppe is made possible by the financial support of its sponsors. For more about Talk Shoppe, go to www.TalkShoppe.com (shoppe) For our Tip today we have Talk Shoppe sponsor, Chuck Bohannon, Midsouth booking agent for Santa Claus. Want to make this holiday positively memorable for your family and friends? Contact Chuck Bohannon to book Santa Claus for your Christmas party. Chuck brought none other than Santa Claus. Santa Claus, what is our Talk Shoppe tip today?

Santa’s tip:

it is important to know what you want. Make a list of the kind of house you want like you used to do when you wrote your letter to Santa as a child. Make a list of what your budget can afford and now we can get creative and try to bridge the gap. )

TOPICS COVERED BY ED HILL OF MASTERS ROOFING

Ed Hill, Senior Consultant, with Masters Roofing Memphis is also host of the helpful podcast, MemphisHomeMaintenanceShow.Podbean.Com and a regularly scheduled radio co-host with Jo Garner on Real Estate Mortgage Shoppe, heard Saturdays at 11:05 a.m. Central Time on The Mighty 990 KWAM Memphis 990 AM/107.2 FM. Contact Ed directly at 901-273-6594 to seek his construction counsel or to schedule a free helpful consultation.

SEGMENT 12 minutes

( Small Victories Song by Allen McCool playing in background)

For Did You Know today…(see if you can guess the answer before we do)

(Jo) to ask the trivia question) What is the name of this Memphis-born real estate developer and philanthropist best known for helping bring The Peabody Hotel back to life?

(Ed) Hint #1

This developer brought in specialized artisans, plasterers, and architectural restoration contractors to recreate the ornate lobby, travertine marble fountain, and grand ballrooms rather than replacing them with cheap modern substitutes.
(ED) Hint #2 Bringing Construction and Design In-House. Trained as an engineer at MIT, this developer recognized that long-term real estate success depended on tight quality control. He also built hotels, outlet malls, and office towers nationwide. Who is this well-known Memphis developer and philanthropist?

Santa Claus gives the answer : Jack Belz

(Jo) Today on Real Estate Mortgage Shoppe, we are talking about “Who Picks Up the Phone? What to Ask Before You Hire A Contractor or Borrow Money.

Ed Hill of Masters Roofing in Bartlett, TN 901 273-6594
Chuck Bohannon, MidSouth booking agent for Santa Claus 901 619-6436

TOPICS COVERED BY JO GARNER, LICENSED MORTGAGE OFFICER

The best question to ask a mortgage lender in 2026 is “Can you show me which loan fits my budget today, how much cash I’ll need at closing, and what it will cost me over the time I expect to keep it?”

Five questions to ask yourself

What monthly housing payment would feel comfortable in an ordinary month? Include principal, interest, property taxes, homeowners insurance, any required mortgage or flood insurance, and HOA dues. Leave room in your budget for maintenance and repairs.
How much cash can I bring to closing and still have enough in savings? Set a dollar amount you want left after closing, moving, and immediate repairs. That gives your lender a clear target when comparing down payments and credits.
How long do I realistically expect to keep this loan? Think about a possible move, retirement, or refinance. Ask to see the costs over that time frame, especially if you’re considering paying points upfront.
Which matters most to me: less cash at closing, a lower monthly payment, or lower borrowing costs over time? Rank them before you look at quotes. You may choose different terms if you want to protect your savings than if you expect to keep the loan for many years.
Would this payment still work if my plans or income changed? Think about retirement, variable income, or a year when taxes and insurance rise. If the offer includes a temporary buydown, budget using the full payment you’ll owe after the subsidy ends. Are you going to retire in the next 5 years? You may be able to afford the payment today but what about when your income drops at retirement?

What if your income will be about the same over the next five years, but you will need to pay on college tuition for one of your children? Both scenarios means you need to either keep your house payment today low enough so that you can afford it when the budget changes come, OR put together a plan to increase your income or lower your monthly debt.

For example: Mr. and Ms. Smith knew they wanted their son to be able to college at their

alma mater out of state. The tuition with the living expenses were going to strain their budget, and how much were they going to have to sacrifice to get their son to graduation? Not much all, as a matter of fact. The Smiths decided to step outside the box and BUY a home close to the university where their son could live. Their son went on the loan with them as the owner occupant, so the deal didn’t cost much cash out of pocket, and their son rented two of the rooms to other students which more than paid the mortgage payment Very clever for the Smiths! They made money each month and built equity and their son built his credit at the same time too. Who do you know that could use this smart strategy for their college student?

Introducing Maxim and Mindy Morris

Their dream was to move to move to a home they had always dreamed of having .

Challenge: They need to wait about 6 months after they move out of their current home before selling it. But, since thy can’t use the equity from the old house and don’t want to a third loan, their payment on the new home will be too high for their personal comfort level.

Solution: go ahead and buy the new home with the smaller down payment . Later, when they sell the old home and have cash from the equity, they can pay that large lump sum down on the new mortgage as a prepayment to principal. When they prepay 20% of the unpaid balance on the mortgage, the lender has the option to RECAST the loan to a lower payment as if they had put the large amount of money down. Now the Morris’ can still enjoy a low payment on their new home after they sell their old one. A recast is not a refinance. The rate and number of years on the mortgage do not change, but the payment is lowered. Call me and I can show you how the RECAST tool can work for YOU.

Seven questions to ask the mortgage lender

*Ask the lender*	*What to look for in the answer*
*“Which two or three loan programs fit my situation, and why?”*	Ask which conventional, FHA, VA, USDA, or down payment assistance options you may qualify for. Have the lender explain how your income, credit, available cash, and the property affect the recommendation.
*“Can you show me the full monthly payment and cash to close for each option?”*	Ask which figures are estimates and which costs you’ll pay separately. Have the lender identify mortgage insurance, any upfront program fee, and when any monthly mortgage insurance could end.
*“Can you price the same loan with zero discount points, with points, and with a lender credit?”*	Compare the interest rate, APR, lender fees, cash to close, and monthly payment. Ask how many months of savings it would take to recover the cost of paying points.
*“If the seller or builder offers an incentive, how would each use affect my numbers?”*	Where allowed, compare a price reduction, closing-cost credit, permanent rate buydown, or temporary buydown. For a temporary buydown, ask for the payment in each year and the full payment afterward.
*“What can change after closing?”*	For an adjustable-rate mortgage, ask when it can first adjust, what caps apply, and what the highest possible principal-and-interest payment is. Even with a fixed rate, ask how taxes, insurance, and HOA dues could affect your budget.
*“Is this rate locked, when does the lock expire, and what would an extension cost?”*	Ask whether the lock runs through your expected closing date, who pays for an extension if closing is delayed, and whether you have any option to capture a lower rate if rates fall.
*“What have you verified, and what could still delay or change my approval?”*	Ask whether your income, assets, and credit have been reviewed, what still depends on the appraisal or property, and who will keep you updated through closing.

If you’re refinancing, ask one more question

“If I keep my current mortgage versus refinance, how much will I pay and how much will I still owe in three, five, or seven years?” If you are refinancing your current mortgage and getting enough cash out to pay off high interest rate credit cards, then when we do the comparison of keeping your old mortgage and continuing to pay the high interest rate credit cards versus getting a cash out refinance, paying off your current mortgage and paying off the credit cards. The numbers won’t lie and you will KNOW that you KNOW which direction to go for your bragging rights.

REFINANCE STRATEGIES PEOPLE ARE USING IN THE 2025 REAL ESTATE MARKET

One of the best tools for redesigning your financial life is using a mortgage refinance when it makes sense.

#1. Cash out refinance to combine your low balance first mortgage and high balance, higher interest rate debt into one single digit, fixed rate mortgage. When you can save several hundred dollars a month on a cash out refinance, consider using the extra savings to pay the mortgage off early.

#2. Cash out refinance to buy an additional property

#3. Cash out refinance to modify your home to fit the way you want to live in your home.

#4. Remember, if you have paid over half of your mortgage balance over the years, and you want to ts

Let’s you and I talk about YOUR plans to save on your mortgage costs or your plans to build your real estate portfolio. But you have to talk with me personally so I can work with you. You can connect with me at www.JoGarner.com or call me directly at (901) 482-0354. MAKE YOUR PLAN, LET’S WORK YOUR PLAN. IF THE DEAL WORKS FOR YOU TODAY, DO IT TODAY!

MAKE YOUR PLAN. LET’S WORK YOUR PLAN. IF THE DEAL WORKS FOR YOU TODAY, LET’S DO IT TODAY. I can make the mortgage process easy. Connect with me at www.JoGarner.com You can email me at Jo@JoGarner.com or call me at (901) 482-0354

4^th Segment 8 minutes and 50 seconds

(THE SONG UpBeat Inspirations PLAYING IN BACKGROUND ) INSIGHTS & INSPIRATION Jo shares this story

Hiring the best made this man the very best

You still hear this man’s name 100 years after his time. He is remembered as very wise and very rich.

A Scottish immigrant’s first job in America was tending bobbins in a Pennsylvania cotton mill. Years later, he built a steel business where a young man named Charles Schwab started out driving survey stakes. Schwab rose to chief engineer, then company president, and helped negotiate the sale that led to U.S. Steel.

This wise man made it a habit to hire the best people and trusting them to build the best company. This man was Andrew Carnegie. He wanted to be remembered for bringing capable people into his business and trusting them with important work. Through hiring the best and associating with the best, Andrew Carnegie is known for being one of the best.

Are you wanting to buy a home or perhaps refinance to get rid of the higher interest rates on your credit card debts? You may be thinking that you don’t really know the best way to get started. Don’t settle for the cheapest contractor or the cheapest financing. Hire a person who has a reputation for under promising and over delivering and who takes time to understand what you truly want to achieve.

Are you shopping around for the right mortgage? I can help you with getting the right mortgage and making the process easy. Connect with me today at www.JoGarner.com

(Jo) Today on Real Estate Mortgage Shoppe, we are talking about “Who Picks Up the Phone? What to Ask Before You Hire A Contractor or Borrow Money.

Ed Hill of Masters Roofing in Bartlett, TN 901 273-6594

Chuck Bohannon, Midsouth booking agent for Santa Claus 901 619-6436

REAL ESTATE TIP OF THE WEEK

Santa Claus’ tip: Once you have made a list of the things you want, get connected with the professionals who will work the hardest to get you what you want.

Ed Hill of Masters Roofing tip: Use local professionals . Some of the local companies you have been happy using for the last several years—they have sold out to private equity firms or other buyers who are no longer local. They still may look local but you may experience lower quality customer service . Check public, online reviews.

Jo Garner’s tip :

ANNOUNCEMENTS:

Thank you to one of our major sponsors. Talk Shoppe equips with education, engages by offering connection opportunities between business people and empowers businesses in a supportive community. (Thank you Talk Shoppe’s location sponsor, Breadie’s Café at One City Church 120 N East Yates Rd Memphis, TN. Make Breadie’s café the place you go when you are not at home and not at work. Come to Breadie’s and make connections.)

This Wednesday November 18^th, 2026 “The Roles We Carry & Who We Are Beyond Them” presented by Mary Lou Nowak owner of Resource4Care.com

This is a Health Talk powered by Resource4Care.com. Sponsored by Home Helpers (non-medical assistance for loved ones needing assistance to remain safely at home 901 414-9696) and hosted by Talk Shoppe.

Thank you to Talk Shoppe’s webmaster and more, Robert Anthony of Visidex. When you need to design a website that brings business to you or create a program to reduce your business expenses, contact Robert Anthony at robert@visidex.com

Thank you also to Talk Shoppe sponsors, Tim Flesner and Genell Holloway of Home Helpers (non-medical assistance with daily living routines for loved ones needing help to age in place) (901) 414-9696.

MAKE YOUR PLAN. LET’S WORK YOUR PLAN. IF THE DEAL WORKS FOR YOU TODAY, DO IT TODAY.

Subscribe for weekly Real Estate Mortgage Shoppe podcasts with show notes at www.JoGarner.com

SPECIAL NOTE: REAL ESTATE MORTGAGE SHOPPE DOES NOT ENDORSE 100% OF THE CONTENT ON THIS EPISODE. 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, AND NOT AN OFFER TO LEND. EXAMPLES GIVEN FOR ILLUSTRATION PURPOSES ON REAL ESTATE MORTGAGE SHOPPE AND MOST 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. JO GARNER IS A LICENSED MORTGAGE LOAN ORIGINATOR. (EQUAL HOUSING OPPORTUNITY)

QUOTE CORNER ACKNOWLEDGMENTS AND CREDITS
” I told my carpenter I didn’t want carpeted steps. He gave me a blank stair.”Anonymous

REJOINDERS:

Mark McLaurine of Refrigeration Unlimited 901 216-7782
Clint Cooper, Redeemers Structural Solutions 901 846-5863
Brandie Spicer of Howling Wolf Bookkeeping 901 593-9369

Transitional Music: First Segment “WAAKA WAAKA” (PD) for Comic Queries; “Small Victories” ” by Allen McCool ( www.allenmccool.com )for Did You Know segment; “New Heights” by Allen McCool for Insights and Inspiration segment.

INTRO AND OUTRO THEME MUSIC “Building Value” by Allen McCool www.allenmccool.com

PICK UP YOUR COPY OF “CHOOSING THE BEST MORTGAGE-THE QUICKEST WAY TO THE LIFE YOU WANT” by: JO GARNER

An essential guide for real estate professionals and their customers.

On Amazon and Barnes and Noble

ABOUT ED HILL OF MASTERS ROOFING

Ed Hill has been in the residential roofing industry since 2008 and has been Senior Consultant with Masters Roofing Memphis TN since 2010. He has personally assisted about 800 homeowners with roof replacement and many others with roof and exterior repairs. He is an active member of the Greater Memphis Business Network International chapter and is the official Masters Roofing consultant to TPC Southwind. He holds three earned degrees including a doctorate but tries not to let those get in his way of serving his customers! For free roof advice, free inspections, and free estimates and bids for roof replacement or roof repair call Ed Hill at 901-273-6594. Learn more at #EdHillMastersRoofing and at MemphisHomeMaintenanceShow.Podbean.Com

Ed Hill, Senior Consultant
Masters Roofing
2845 Stage Center Cove
Bartlett TN 38134
901-273-6594
EdHill.MastersRoofing@gmail.com
www.mastersroofing.com

TN State Licensed Contractor #00067521/ Reciprocal Licenses MS & AR
BBB A+ Accredited Member Business
Platinum Preferred Contractor Owens Corning / GAF Master Elite Installer
Guild Quality Member / Angie’s List

www.EdHillMastersRoofing.webs.com

Podcast https://MemphisHomeMaintenanceShow.podbean.com

You Tube Channel: Ed Hill Masters Roofing

http://Instagram.com/EdHillMastersRoofing
www.Facebook.com/EdHillMastersRoofing

ABOUT JO GARNER-MORTGAGE LOAN OFFICER:

www.JoGarner.com (901) 482 0354 jo@jogarner.com X @jogarner NMLS# 757308 (currently working with Everitt Financial dba Supreme Lending)

ONLINE LOAN APPLICATION : https://jogarner.supremelendingLO.com

“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 helping her clients find the right mortgage program and making the refinance or home purchase mortgage process EASY. She offers conventional, FHA, VA or other loan programs for primary residences, second homes and investment properties.

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 30 years. She grew up in West Tennessee and got her start in real estate 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 30 years.

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 the Mighty 990 AM, 107.9 KWAM & streaming on the app https://mighty990.com/app with podcasts and show notes published on www.JoGarner.com Pick up Jo Garner’s book on Amazon or Barnes Noble “Choosing the Best Mortgage-The Quickest Way to the Life You Want”

Who Picks Up the Phone? What to Ask Before You Hire A Contractor or Borrow Money

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