“Down the Stretch to Your Dream Home: Insider Strategies to Win”
Do you want to buy a home and get a good deal on your mortgage? Click the play button to hear this podcast. You will get inside track information to help you make better real estate decisions and avoid pitfalls on your purchase and your financing.
#JoGarner #MortgageExpert #MortgageLoanOfficer (901) 482-0354
#AllenMcCool Stephenson & Associates Appraisal Company #midsouthappraisals (901) 763-2100
Also featuring #SilvanaPiadade #EXPREALTY MS & TN (901) 647-6661 #midsouthrealtor
Subscribe for weekly Real Estate Mortgage Shoppe podcasts with show notes at www.JoGarner.com
LET’S GET STARTED…(Jo) (Good morning, Memphis! Welcome to our internet listeners and podcast listeners across the 50 states! . Today is May 2nd, 2026. I’m your host, Jo Garner, Mortgage Loan Originator. You can connect with me at www.JoGarner.com. Our general topic: “Down the Stretch to Your Dream Home: Insider Strategies to Win.” Thank you to real estate attorneys Shelley Rothman and Rob Draughon of Griffin, Clift, Everton and Maschmeyer Law Firm. For your real estate purchase or refinance closing call Rob and Shelley at 901 752-1133. (Riders Up)
INTRODUCING ALLEN MCCOOL, APPRAISER AT STEPHENSON & ASSOCIATES
Back in the studio we have our trusted residential real estate appraiser with over 35 years
Experience, Allen McCool of Stephenson and Associates. Allen you bring excellence to whatever do. You do excellent work as an appraiser. In the race to homeownership your appraisal is a safety feature protecting the buyer from overpaying for the house unknowingly. (Allen has about a minute and a half to share a little about himself and the services he offers his clients.)
Allen McCool and the other owners of Stephenson & Associates can do your appraisal for estates, divorces, cash purchases and more. Mortgage companies, by law, select appraisers for mortgage loans through a HUD-approved appraisal ordering service.
(Jo) This is a horse racing weekend so let’s stay with that theme on this show. Horse racing successes range from rags-to-riches stories like the mathematical genius Bill Benter, who used algorithms to win close to $1 billion. Others “made it big” by owning legendary horses, such as the billionaire owners of top contenders. Some of the people who made it big in horse races, first made their fortune owning real estate.
So, how do you win in the stretch when you want to buy a home?
Here are the first three steps for getting your mortgage before you get with your realtor.
Step 1: Get a free consumer credit report and make sure their or no errors or disputes. www.annualcreditreport.com is free to use at least once a year. Look for errors. Also, as your mortgage officer, I can pull a soft pull credit report, which will not hurt your credit. We can look for ways to correct errors and more. Once your home purchase offer is accepted, we would need to pull the official report.
Step 2: Know what your PERSONAL comfort level is on a monthly payment and down payment. Set aside three hours or more to review what you normally spend per month from your bank accounts and your credit cards. Determine from your expected income and expenses what is the maximum house payment that is comfortable for you? Leave room for some of those once-a year payments like when you have to pay for your car tags or insurance premiums and unexpected expenses.
How much can you put down on a house and still have a comfortable amount in the bank in case of emergencies? There are several mortgage programs offering down payment assistance, so you may not need much money down to buy a home, but don’t you want a little money for moving expenses? It’s really helpful to know your personal comfort level on a house payment and down payment before you start looking at houses outside your comfort range. As your mortgage officer, I can offer some guidelines, but ultimately you want a mortgage that you can ENJOY making your mortgage payment each month.
Step 3: Explore mortgage programs and terms with your lender and get a preapproval letter. As your lender, we can review your credit and make some suggestions. We can explore mortgage programs that give you the best overall advantages and make the mortgage process easy. One more thing–beware of the mortgage companies telling you they can get you a mortgage rate lower than anyone else. If it sounds too good to be true, it probably is. These are important pieces of information that will help pin down the right fit for your mortgage. Call or text me today at (901) 482-0354. I am happy to talk with you or, if you prefer to work only online, that is fine too. Just text me and I can send you the online loan application. Or find me at www.JoGarner.com
(JO) Allen McCool, you are the expert real estate appraiser. What are some important things we need to know as homebuyers about the home appraisal? (Allen has about 4 to 5 minutes in this first segment until the advertising break -to be continued after the break)
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 Allen McCool, appraiser with Stephenson & Associates. Realtor Silvana Piadade of EXP Realty will also be joining us. See you back in just a moment.
2nd segment is after first break 8 minutes 50 seconds
( Waaka Waaka song in background ) COMIC QUERIES (you probably already know the answer, but we will ask anyway
(Jo) Riddle: An old man dies, leaving behind two sons.
In his will, he orders his sons to race with their horses, and the one with the slower horse will receive his inheritance.
The two sons race, but since they’re both holding their horses back, the scenario doesn’t really work.
Perplexed, they go to a wise man and ask him what they should do.
After that, the brothers race again – this time at full speed.
What did the wise man tell them?
(Allen) Answer:
That if they switch horses, whoever wins the race will get the inheritance because they still technically own the losing (that is, the slower) horse.
Today on Real Estate Mortgage Shoppe we are talking about “Down the Stretch to Your Dream Home: Insider Strategies to Win”
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
Allen McCool, Appraiser with Stephenson & Associates (901) 763-2100
TALKSHOPPE TIP
Silvana Piadade, Realtor with EXP Realty
Talk Shoppe is one of our major sponsors on Real Estate Mortgage Shoppe. Talk Shoppe offers free networking and education to our local business 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
Thank you to Silvana Piadade, Realtor with EXP Realty in TN and MS for your generous support of our business and real estate community through your Talk Shoppe sponsorship. You are an award-winning English and Spanish speaking realtor. Silvana Piadade, what is our tip today?
Silvana gives her tip : Presentation matters – First impressions count. Remember you are showcasing your home, clean it up, fix small issues, and use strong photos or descriptions to boost perceived value.
Silvana Piadade of EXP Realty 901 647-6661
https://findhomesinmemphis.com
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TOPICS COVERED BY ALLEN MCCOOL, APPRAISER WITH STEPHENSON & ASSOCIATES
Allen to share his appraisal topics, using some examples and analogies to illustrate his points.
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You’ve picked out your horse (house), and you’re ready to run the race. But now, the lender sends out an appraiser.
Before the race begins, it is good to know the roles of each professional in paddock.
The appraiser’s client is the lender, and he is sent to make sure the lending pool is protected, that is, the investment you are making conforms to the market.
You, as the buyer, are not the appraiser’s client, however your interests overlap with the lender’s interests in specific areas such as the value of the real estate.
A key point to remember is that the appraiser has a specific scope of work, meaning he observes the property, researches the market, and draws conclusions.
Always have an independent home inspection. The inspector’s client is you, the buyer; he runs tests on the home and its components, and can point out needed repairs or expenses that would not be apparent on a simple walk-through inspection.
Each step along the way takes time, but it will be well worth it when you step confidently into the starting gate.
3RD SEGMENT 12 minutes
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( Brighter Tomorrows Song playing in background)
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For Did You Know today…(see if you can guess the answer before we do)
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(Silvana Piadade to ask the question and give hints)
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QUESTION: Whose brainchild was it to bring the 21 life-sized, beautifully painted horse statues to Germantown and the Memphis area?
Hint: About nine years ago, 21 life-sized, fiberglass horse statues where painted according to individual themes. One horse was adorned in pennies and given the name “Horse Cents,” the shiny and dull coins providing the animal’s shadowing. Another named “Champ” was painted more traditionally — with its Germantown Charity Horse Show blanket across its back — and stands on Melanie Smith Lane at Poplar Pike, welcoming visitors to the horse show grounds
(From Allen McCool) -
ANSWER: TEMPE CHANCELLOR
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The fiberglass horses with themes ranging from gifts to cancer awareness to floral prints were part of a celebration of the 2008 Germantown Charity Horse Show and the brainchild of Tempe Chancellor.
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Chancellor, in her travels with her husband, Jimmy, came across similar horse statues in Lexington, Kentucky; Oklahoma; and a few other places. She thought the idea was perfect for Germantown and its long-standing reputation for horse farms, the annual charity horse show and even a part of city logos.
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“I just thought Germantown needed painted horses,” Chancellor said.
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Today on Real Estate Mortgage Shoppe we are talking about “Down the Stretch to Your Dream Home: Insider Strategies to Win”
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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
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Allen McCool, Appraiser with Stephenson & Associates (901) 763-2100
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Silvana Piadade, Realtor with EXP Realty 901 647-6661
TOPICS COVERED BY JO GARNER, LICENSED MORTGAGE OFFICER
Your Credit, Your Debt, Your Mortgage
Inside Track to How to Get Approved on Your Mortgage
PLAN BEFORE YOU PAY—REN’S STORY
Not long ago, Ren (not his real name) called me and said he was finally ready to buy his first home. He announced that “I am going to use my money to pay off ALL of my bills before I come in to see you. Don’t you think that is the best thing?” My suggestion was, “Before you spend a dime paying anything off, Ren, let’s get a snapshot of where you are right now.”
Money Talks Loudest
Ren’s lease would be up soon on his apartment and he knew he needed a strong prequalification letter and a quick approval to be in the new house before he had to get out of his apartment. He was worn out with paying rent money every month when he could be investing in owning his own home. He had just enough saved to pay the 3% to 5% down payment on the house he wanted but knew he had some other debt too.
I truly appreciated Ren’s willingness to go the extra mile to help me get his loan file looking its best. But, the top priority with the mortgage underwriting software systems is to show an adequate amount of money available in the bank to make the down payment and pay some costs, and it always looks good to have reserve funds left for emergencies.
Good Credit Can Take You Far
The second important factor in making a borrower like Ren look good is to show a high credit score Ren’s ability to show that he pays creditors and only owes a small percentage on the credit lines available to him. I pointed out to Ren that a great credit score is a score over 780. An average score is around 700. When the borrower’s credit score is 650 or 640, then he can probably still get a standard mortgage, but some loan programs will cost more money to get the same mortgage rate.
Income-To-Debt Ratios-Can You Make the Payment
After looking at funds available and the credit profile, underwriters look at income-to-debt ratios. Ren’s income-to-debt ratio added the new proposed house payment including principal, interest, taxes, insurance, and mortgage insurance together with all the minimum payment amounts from credit cards, the car loan, and other installment accounts. This total divided into the gross income amount equaled the income-to-debt ratio. For Ren, his debt-to-income ratio –total monthly debt divided into his gross income— was around 45 percent. Not bad.
However, in some cases, the mortgage underwriting program could have prequalified Ren with a 50 percent income-to-debt ratio because he keeps more than enough cash available in his bank account. Ren’s prequalification letter was very strong. He was confident going into the real estate market to purchase his first home. We looked at some down payment assistance programs for Ren also.
Once the home appraisal and title work were done, Ren got all of his income and asset supporting documents into the file, then a human underwriter reviewed the information and made the ultimate decision. The three decisions underwriters make are to approve the loan, suspend the loan subject to further documentation or deny the loan. Approve is the goal.
Getting Over Hurdles
Hurdle #1 Not enough money to close- Call me and let’s go treasure hunting. We can find money you didn’t even know you had.
Let’s explore several down payment assistance programs. There are 100% loans out there on special loan programs. Sometimes you have to get creative . Do you need the seller to help you pay your closing costs, but the sellers don’t have enough profit to pay to help you?
Your realtor can advise you. If you need the seller to pay $8,000 toward your closing costs, you could try offering them $8,000 more than the listed price. You would get the funds you need and the seller would still have the same net profit THEY need. Tip to the wise—The house would have to appraise for $8,000 over the list price for this funding strategy to work.
Hurdle #2 Not enough income to qualify
There are several solutions to get over this barrier. Sometimes it is a matter of averaging extra income like bonuses and overtime over the last 24 months to boost the income higher. Sometimes it is restructuring some debt so that the overall payments on your other debt is lower. If you do that, you may not need as much income to qualify.
Sometimes a good cosigner can save the day.
If you are self-employed there are loopholes that will allow us to increase the qualified income you show on your tax returns. Other times, we can switch you to an outside-the-box loan that doesn’t look at tax returns. We calculate your income from your bank statements.
Hurdle #3 My credit needs improving
As a courtesy to my mortgage clients, I pull a softpull credit report that does not affect the credit scores. We can look for quick, inexpensive actions you can take that normally boost credit scores. For more complicated cases, we can use a Credit Simulator tool to help set up a winning credit strategy.
Hurdle #4 The property is the problem
If you are buying a house that needs a lot of repairs there are a few directions people take. One of them is using a special Renovation and Repair loan. Call me and we can compare other types of work arounds.
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
4th Segment 8 minutes and 50 seconds
(THE SONG UpBeat Inspirations PLAYING IN BACKGROUND ) INSIGHTS & INSPIRATIONS
The Long Shot
This is a story about a jockey who wanted more than anything to ride winning race horse in big races. Everything seemed to go against him. The only horses he was allowed to ride were the slow ones. During his days as a jockey he had an accident and lost sight in one of his eyes, so he had no depth perception, and no way to see all the way around him.
But this jockey’s heart was strongly set on riding a winning horse in a major race. Enduring the pain from injuries and bad breaks caused him to work with horses with patience and kindness. One day the trainers asked him to work with an extraordinarily fast but very troubled, temperamental horse.
It was the break Red Pollard had been waiting for. He and the horse Seabiscuit were a winning combination, winning many major races together and making history.
Red Pollard’s story teaches us that we can do really amazing things with the right combination of determination, hard work and opportunities. What do you have your heart set to do? I believe you can accomplish ANYTHING in life if you buy real estate right, take care of it and pay down the mortgage as soon as possible.
Call or text me today at 901 482-0354. For your home purchase or refinance, I can assist you with getting the right mortgage and make the process EASY. www.JoGarner.com
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Today on Real Estate Mortgage Shoppe we are talking about “Down the Stretch to Your Dream Home: Insider Strategies to Win”
-
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
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Allen McCool, Appraiser with Stephenson & Associates (901) 763-2100
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Silvana Piadade, Realtor with EXP Realty 901 647-6661
REAL ESTATE TIP OF THE WEEK
Silvana Piadade, Realtor offers her tip Know your budget—and stick to it – It’s easy to get emotionally attached, but smart buyers set limits ahead of time and avoid overpaying.
Allen McCool, Appraiser with Stephenson & Associates offers his tip (about 1.5 min)
Jo Garner’s tip :
Are you self-employed and are experiencing difficulty getting banks to accept your income based on your tax returns? There are more creative solutions than you can count. You just need a real person to hear your story and take the time to help you set up your strategy.
Call or text me today at 901 482-0354 or go to www.JoGarner.com
ANNOUNCEMENTS:
Talk Shoppe equips with education, engages by offering connection opportunities between business people and empowers businesses in a supportive community. Talk Shoppe meets every Wednesday 9A-10A CT at Independent Planning Group’s conference room 110 at Clark Tower 5100 Poplar Ave 1st floor Memphis, TN
(Thank you Ben Hunter 901 660-2912 outstanding Financial Professional at Independent Planning Group for being Talk Shoppe’s location sponsor)
Talk Shoppe on Wednesday May 6th , 2026 9AM CT Mark Cardona, of Redeemers Group Foundation and Crawlspace Repair will be talking about “The Life Cycle of Concrete-A Sidewalk Liability?”
Thank you to Zack Roberts of ZRCREATIONS, a digital marketing expert. For your web design and other digital marketing projects, contact Zach at Zach@ZRCreations.com
A shout out to one of our “Friends of Talk Shoppe” Clint Cooper. Clint is inviting you to come by and visit their open house at Memphis Water Gardens today 9AM to 4pm
Palladio space at 741 South Cox Street Memphis, TN.
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)
(The Auditory version of this disclosure is played during the show)
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QUOTE CORNER: British Racecourses “How to make a small fortune in horse racing? Start with a large fortune.”
ACKNOWLEDGMENTS AND CREDITS
REJOINDERS:
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Troy and Lynn McDonald, Erin McDonald Insurance Company 901 849-7101
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Pat Goldstein, Realtor with Crye-Leike in TN and MS. 901 606-2000
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Leah Anne Morse of All Things New Moving Company 901 488-9733
Transitional Music: First Segment “WAAKA WAAKA” (PD) for Comic Queries; “Brighter Tomorrows” by Stocktunes for Did You Know segment; “Upbeat Inspiration” by Ikoliksaj for Insights and Inspiration segment.
INTRO AND OUTRO THEME MUSIC “Country Roads” by Sergie Pavkin
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 ALLEN MCCOOL, APPRAISER WITH STEPHENSON & ASSOCIATES
Allen McCool is a real estate appraiser with Stephenson and Associates. Holding the SRA designation from the Appraisal Institute, Allen has appraised residential property in Shelby County, TN for over 35 years, serving a variety of clients, including lenders, attorneys, and individuals. Allen applies a wealth of knowledge and analytical skill to each assignment, provides clarity in reporting results, and is a reliable provider of solutions to challenging real estate problems. 901 550-2100
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”