If you are planning to buy a home and get a mortgage, take some of the latest tips from an experienced realtor and mortgage lender. More tips from other experts too. Top tips and stories of homebuyers who overcame obstacles and took the right actions to enjoy success with their real estate purchases.
Host: #JoGarner #MortgageExpert #MortgageLoanOfficer (901) 482-0354
Co-Host: #PatGoldstein #MidSouthRealtor Crye-Leike Realtors (901) 606-2000
Special Guests: #GenellHolloway #healthbenefits Eagle Hollow Enterprises 901 270-1127
Retired US Navy Line Commander and representative for Viago Travel Company 901 289-0747
Subscribe for weekly Real Estate Mortgage Shoppe podcasts and show notes www.JoGarner.com
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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 is Homebuyer’s Guide: How to Prepare for Buying a House and Getting a Mortgage. Thank you to real estate attorneys Shelley Rothman and Rob Draughon of Griffin Clift Everton and Maschmeyer for sponsoring THIS episode of Real Estate Mortgage Shoppe. For your home purchase or refinance, contact attorneys Rob Draughon and Shelley Rothman at 901 752-1133. Call us live today August 16, 2025 in the studio at 901 535-9732,
Introducing Pat Goldstein, Realtor with Crye-Leike Realtors
(JO) Pat Goldstein, realtor with Crye-Leike in West TN and North Mississippi is back in the Real Estate Mortgage Shoppe studio. Pat, you have over 40 years experience helping your customers buy and sell real estate in the MidSouth. You have earned so many designations and awards, we don’t have time to cover them all. Pat Goldstein, you have been nominated as top five realtors in the Memphis Most Community Awards Contest. Vote for Pat! (Pat has about 1.5 minutes to intro themselves and talk about some of the services they offer.)
Thank you to our Real Estate Mortgage Shoppe listeners for voting for us in the Memphis Most Community Awards Contest. Vote early and often…….
VOTE
So many of us on Real Estate Mortgage Shoppe have made the top five businesses who made top 5 companies in our industries to be in the Memphis Most Community Award Contest.
Thank you to our listeners and podcasters who will vote for us.
Here is the link:
https://commercialappeal.gannettcontests.com/2025-Memphis-Most-Communitys-Choice-Awards/
Beauty/Health (Home Care) Vote for Mid South Home Helpers
Entertainment and Leisure
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Jo Garner (Radio Personality): Vote here
Finance (Mortgage)
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-Jo Garner Supreme Lending (Mortgage Lending Company): Vote here
Finance People- Financial Planner
Ben Hunter of Independent Planning Group
Business and Services (Realtor )
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Pat Goldstein (Real Estate Agent): Vote here
(Jo) When I think about preparation and the rewards of working toward a dream, I think about this quote, “If you do the hard things today, you can enjoy an easier life tomorrow.”
Here are 4 ways you can prepare to score a mortgage approval for yourself. Determine your personal comfort level on the maximum house payment and down payment you can pay when you buy your home.
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Review your credit history on a one-time a year free credit report site like www.annualcreditreport.com .
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Pull together your income and asset supporting documents to give the lender.
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Put together a team of reputable, experienced professionals to guide you around the pitfalls.
How Much House Can I Afford?
(Jo) One of the first ways to prepare for a mortgage approval is to make sure you are comfortable making the house payment and the down payment, if you need a down payment. When I worked on my church finance team, I personally put myself through the budget exercise of finding out what I actually made for gross income and income after all that stuff is deducted. I went through several months of paystubs. Then I started through a few months of credit card statements and my bank statements. After this exercise I was shocked at the amount of money I spent on stuff I didn’t really need. I made a list of once-a-year expenses like some insurances and car tags. Only now was I able to really know what I could afford for a house note and how much I needed to leave in the bank for emergencies. If your married, going through your bank statements and credit card statements is a team exercise, believe me. If you need help with this exercise, I have some very easy tricks you can use to make this a little fun.
Luis and Lydia Lopez – Budgeting Power to Get The Home They Needed
As a mortgage loan officer, I work with some clever mortgage clients like Luis and Lydia Lopez (not their real names)
First time homebuyers like Luis and Lydia Lopez. They had worked hard for several years trying to save the money needed to buy a house in the school district where they wanted their 5-year old to start school next year.
Every time they would get some money put back, some emergency would happen that sunk their savings and the rent kept going up each year. Lydia admitted she was the biggest problem, since she had sometimes made quick decisions to spend money on things she really thought their family needed, only to find out she should not have spent the money.
They needed an affordable house payment and enough money to close. Due to their lower credit scores, they needed a loan program lenient on credit that would still be affordable.
The solution for Mr. and Ms. Lopez?
After their daughter was tucked in one night, Mr. and Ms Lopez spent an evening after their daughter went to bed to look at bank statements and credit card statements from the last several months. They determined the maximum house payment that they could comfortably afford. They set a line in the sand on the max dollars they would pay down.
They got me their supporting paystubs, bank statements and asked us to review them. We did and I sent her an email about how good her documents were looking. They did not have a house to sell first and were willing to work with the seller on a possession date. They were prequalified for a government FHA loan with 3.5% down payment.
Their realtor presented their letters with the home purchase offer. Hard work and perseverance paid off. The Lopez’ got some assistance with the move-in costs and, because of the affordable mortgage interest rates, their house payment was much lower than the going rent in the same neighborhood. We celebrated together at the real estate closing table.
Feel free to call me directly after the show at (901) 482-0354 or email me at Jo@JoGarner.com or connect with me at www.JoGarner.com MAKE YOUR PLAN. LET’S WORK YOUR PLAN. IF THE DEAL WORKS FOR YOU TODAY, LET’S DO IT TODAY.
(Jo) We have realtor Pat Goldstein of Crye-Leike Realtors here with us. Pat, we have a few minutes before we go to break. Get us started with some of your tips on how to best prepare to buy a home. (Pat has until 9:15 to start launching her topic and continue after 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 Pat Goldstein, Realtor with Crye-Leike and Genell Holloway of Eagle Hollow Enterprises will be joining us.
2nd segment 9:18 am – 9:30 am
2nd segment is after 9:15 break from about 9:18Am to 9:30 AM break
LET’S TALK SHOP—TALK SHOPPE’S BUSINESS TIP FOR REAL ESTATE PROS:
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. Talk Shoppe is made possible by the financial support of its sponsors and advertisers. For more about Talk Shoppe, go to www.TalkShoppe.com (shoppe) For our Talk Shoppe Business Tip today we have Talk Shoppe sponsor, Genell Holloway of Eagle Hollow Enterprises. Genell you have helped a lot of us at Talk Shoppe with Health and Medicare benefits, dental, critical illness, cancer policies, life insurance and retirement options. You know how to help your clients prepare and explore to get the right health benefits. Genell Holloway of Eagle Hollow Enterprises, what is our Talk Shoppe Business Tip today? Genell gives her tip (Jo says, “Thanks, Genell. . How do we contact you? (901) 270-1127.
Tip 1: Get some expert consultation to select the best fit for your health insurance plans. With the right health benefits, you can be better prepared for future events.
Genell Holloway of Eagle Hollow Enterprises 901 270-1127
Midsouth Home Helpers 901 414-9696
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TOPICS BY PAT GOLDSTEIN, REALTOR OF CRYE-LEIKE REALTORS
Working with a Realtor
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What to look for when choosing a realtor.
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Understanding the role of a buyer’s agent vs. listing agent.
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Tips for making a strong offer in a competitive market.
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How contingencies (inspection, financing, appraisal) protect buyers.
4. Home Shopping Smarts
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How to prioritize your “must-haves” vs. “nice-to-haves.”
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What to watch out for when touring homes (red flags).
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How market trends (low inventory, interest rates) affect your buying strategy.
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Beware of having too many Contingencies that might cause a seller to accept someone else’s offer
(Common Contingencies )
7. Extra Hot Topics Listeners Love
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Should you buy now or wait for interest rates to drop? Over the last few years we have seen a COST-TO-WAIT happening. Home prices keep going up and interest rates have dropped moderately. There is still more inventory available to give buyers a choice and a negotiating advantage with sellers.
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If rates drop too much, experts predict the number of homes for sale will be quickly gobbled up, throwing would-be home buyers into a competitive fray and pushing home prices higher.
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Renting vs. buying – which makes more sense today?
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3rd SEGMENT 9:35 AM-9:45AM)
TOPICS COVERED BY JO GARNER, LICENSED MORTGAGE OFFICER
Getting Financially Ready
Know Your Comfort Level on Mortgage Payment & Down Payment
Earlier we talked about the importance of setting aside time to review your last several months bank statements and income statements determine what you really earn and what you really spend.
Once you have the truth about your income and expenses, only then can you rearrange your spending to know what you can comfortably afford on a house payment and down payment.
Lots of experts online suggest keeping your house payment under 36% of your income and your total debt with the house note under 45%. (Decide for yourself what is comfortable for you because some of the mortgage software programs might approve you for a lot higher payment than you are comfortable paying)
How To Improve Your Credit Score
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How to check and improve your credit before applying for a mortgage. A great credit score is 760 or higher. A good score is 700 to 759. You are probably going to pay more for your mortgage is your score is below 700. You are going to pay even more for credit if your credit score is below 640.
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Steps to work on your credit. Review and save copies of your credit report from www.annualcreditreport.com Save a copy of your reports from Equifax, Transunion and Experian
Fastest way to add some points to your score is to pay down the balances on your credit cards to under 30% usage on each card. You can get more points if you show that you are using less than 10% of your credit lines on each revolving account.
Make your payments on time.
Don’t open a lot of new accounts. Don’t close credit card accounts. The older cards where you are using less than 30% of the credit limit and making your payments on time will give you the most added points to your credit score.
The are other rules for how to deal with past due accounts and other collection accounts and judgments. There is a whole chapter in my book “Choosing the Best Mortgage-The Quickest Way to the Life You Want” on Amazon and Barnes and Noble.
Why pre-approval is more powerful than pre-qualification
Tish Trainor’s strong preapproval letter beat out the competition
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I remember a divorced, single mother we will call Tisha Trainor. For a long time since the divorce was final, Tisha struggled with trying provide the emotional support and quality life her young children deserved. But Tisha was only one person. Top priority for her was to own her own home in a safe, comfortable neighborhood so her children could have a pet and play in the back yard.
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Tisha searched and made offers to purchase homes during her few free moments over the course of a long summer, but every time, someone already had a contract on the house she
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liked or someone beat her offer during a bidding war. Her realtor advised that she stay at the search and not be tempted to offer more than she could comfortably pay for a home.
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Tisha took her realtor’s advice and took one late evening to take a hard look at her budget and finances to draw a line in the sand on how high she would go on a payment and the absolute highest she would pay for a down payment.
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She pulled together her paystubs and other income documents and her bank statements and asked the mortgage officer to review everything and give her a strong letter of preapproval -not just a prequalification — stating that all of her credit and income and asset documentation had been reviewed and approved.
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Feeling exhausted and discouraged, Tisha made yet another offer on a house she really liked. She had to remind herself not to get too excited while waiting to hear if the seller would accept her offer. Her offer was nothing spectacular since offering over the listing price would make it a challenge to afford the payment. The surprise call came. The seller had accepted Tish’s offer.
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At closing Tish and the agent and I were sitting on one side of the table. The seller just happened to be seated opposite us finishing his signatures on his part of the closing transaction. He looked up at Tish and reluctantly said, “By the way, your offer was NOT the highest offer I got for my house. There were higher offers, but YOUR offer was the surest offer.” The seller told her, “ We needed to sell and move quickly, so we took your lower offer because the lender had already approved your paperwork, so we knew you were the surest bet to close”
Other Tips To Consider When you Get a Mortgage
Go ahead and explore your mortgage options with an experienced mortgage officer. You will get an idea of the range on sales prices that meet your comfort level. You can also find special lower-than-market interest rate programs and may get some down payment assistance.
Explore with your realtor and your mortgage officer to buy in an area and with the right mortgage program that will give you multiple profitable exit strategies if you should every decide to move out of the home in the future.
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!
CALLER: Retired U.S. Navy Line Commander, Peggy Lau, representative for Viago (Travel Club) Great vacations at a fraction of the cost. 901 289-0747
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
REAL ESTATE TIP OF THE WEEK
Genell Holloway of Eagle Hollow Enterprises and MidSouth Home Helpers ( Mid South Home Helpers has been nominated for the Memphis Most Community Awards) : They do a lot for our business, real estate and health and wellness businesses. A great way to say thanks is to give them some votes for the Memphis Most Contest
(Also, one of Mid South Home Helpers’ caregivers was nominated for a national award for most caring and professional care giver. Kudos! to Mid South Home Helpers )
Jo Garner’s tip :
Don’t think you have to wedge yourself into a mortgage box that does not fit you. If you have good credit, you have a lot of options for mortgage programs. If you have good credit and some money down, you can explore both traditional government backed loans OR you can explore more flexible outside-the-box loan programs.
What do YOU want to accomplish with YOUR mortgage? I have the knowledge and experience. Let’s look at traditional mortgage products, alternative mortgage products and even combinations of products. I can help you get you what you need and make the mortgage process EASY. Jo Garner, Mortgage Loan Officer 901 482-0354 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 August 20th, 2025 “The Health Benefits of Intermittent Fasting” presented by Lia Lansky of Baptist Memorial Hospital
This is a health talk powered by Mary Lou Nowak of Resource4Care.com Sponsored by Tim Flesner and Genell Holloway of MidSouth Home Helpers 901 414-9696 Hosted by Talk Shoppe www.TalkShoppe.com
Talk Shoppe says thank you to the generous sponsors who support business owners and sales people in our community. Thank you to Troy and Lynn McDonald of Erin McDonald Insurance Agency. Connect with Troy and Lynn McDonald for your home or auto insurance 901 849-7101.
Christopher Bulin of Clarity Axis A.I. programs for marketing businesses cbulin@clarity-axis.com
MAKE 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:
David Waronker “Buy real estate in areas where the path exists…and buy more real estate where there is no path, but you can create your own.”
Suze Orman “Owning a home is a keystone of wealth—both financial affluence and emotional security.”
REJOINDERS:
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Craig Jennings of Avalon Capital Memphis, TN (hard money lenders ) 901 417-8427
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Tim Flesner Midsouth Home Helpers Germantown, TN 901 414-9696
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Lawren Bogard, Shelby Gardens of Cordova (memory care ) 901 713-1681
Transitional Music: “Call Me Your Realtor” parody of “Call Me” by Blondie; “Alone” by Heart; “Millennial Home Buyer” parody song “Taking Care of Business” by Bachman Turner Overdrive or the Talk Shoppe Business Tip for Real Estate Pros
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
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ABOUT PAT GOLDSTEIN, REALTOR WITH CRYE-LEIKE
(901) 606-2000
2006 MAAR Realtor Associate of the Year 2005 MAAR Presidential Award Recipient TAR Leadership Graduate Member National Association of Realtors
Life Member of the Multi-Million Dollar Club. Toastmasters Division Governor CBS (Certified Builder Specialist)
CRA (Certified Relocation Associate)
CRS (Certified Residential Specialist)
GREEN (Green Agent)
GRI (Graduate, Realtors Institute)
MMDC (Crye-Leike Multi-Million Dollar Club)
SRES (Seniors Real Estate Specialist)
SRS (Seller Representative Specialist)
Vice-President (Circle of Excellence)
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 News Radio AM 600 WREC and iHeart Radio 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”