MORTGAGE APPROVAL ROADBLOCKS-HOW TO OVERCOME HOME REPAIR AND FINANCING CHALLENGES
Jo Garner, Host/Ed Hill Co-host/ Helen Hazard Producer
There is a solution to every obstacle. Tune in and hear how other people got around their home and financing roadblocks.
#JoGarner #MortgageExpert #Homemortgage 901 482-0354
#EdHill #MastersRoofing #memphisroofer 901 273-6594
Subscribe for weekly Real Estate Mortgage Shoppe podcasts with show notes 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 9th, 2026. I’m your host, Jo Garner, Mortgage Loan Originator. You can connect with me at www.JoGarner.com. Our general topic: MORTGAGE APPROVAL ROADBLOCKS-HOW TO OVERCOME HOME REPAIR AND FINANCING CHALLENGES. 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.
INTRODUCING ED HILL OF MASTERS ROOFING
Back in the studio we have expert appraiser, Ed Hill, Senior Consultant with Masters Roofing in Memphis. Check out his roofing show room in Bartlett, TN. Check out Ed’s podcasts at https://MemphisHomeMaintenanceShow.podbean.com Ed Hill is a roofing expert of excellence –a resource for you or someone you know. Ed Hill, take a minute or so and introduce yourself to our new listeners and talk a little about what you do for your clients at Masters Roofing. (Ed Hill intros himself & talks about services he offers)
(Jo) Getting approved for a mortgage is a lot like using GPS on a road trip. Sometimes there’s construction, traffic, or a closed road ahead. A good mortgage officer doesn’t just tell you ‘you can’t get there.’ We reroute the path so you can still arrive at your destination—your new home.”
Sometimes the GPS offers you alternative routes. Here are some common roadblocks.
: #1. Money to close. #2. Not enough qualified income. #3. Credit challenges,. #4. Property issues with the appraisal or title
Over my 30 plus years as a mortgage officer, I been impressed with methods used by real estate attorneys to fix title issues. But, let’s talk about property appraisal issues. Appraisers notate repairs that affect the structure, security, and sanitation of the home. Mortgage companies require these types of repairs to be completed before closing. If underwriters see these type repairs on an appraisal, often these repairs are required to be fixed before closing.
Rotted wood, roof problems, missing components or non-functional electrical, plumbing or heating and air systems. Drainage problems, mold, broken glass, foundation problems, unsecure doors and locks.
When the repairs must be fixed before closing, the buyer and seller negotiate who will pay for which repairs. If the buyer pays, the mortgage company will have to verify in the borrower’s asset accounts that they have the funds to cover closing and repair costs. If the seller pays, then he or she cannot pay the buyer with a “repair allowance.” Most traditional mortgage programs no longer allow repair allowances or “carpet and paint allowances.”
Under certain circumstances , the seller is allowed to put the money in escrow to be paid to the repair vendor after closing.
If the person getting the home purchase loan or refinance knows about the repairs but wants to get the mortgage anyway, it is good news if the mortgage underwriting software report does not require an appraisal on the property. That is another way to get around the repair barriers for mortgage approval. Most underwriting reports require an appraisal though. There are several possible solutions to overcome the repair issues.
Low appraisal values cause challenges for both home purchase and refinance financing. The federal lending guidelines provide specific methods for appealing the property value. The focus of the appeal is to correct errors or provide more accurate information that was used to determine the value.
(Jo) Ed Hill of Masters Roofing, you help your clients with roof repairs and replacements and you help them with exterior repairs. What are some common problems you see your customers encounter? What are some common solutions you offer? (Ed has about 4-5 minutes to launch into his topics before ad break. 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 Ed Hill of Masters Roofing.
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) The Locked Car
Puzzle: A man is locked in a car with no way to escape. All the doors are locked, the windows are up, and there’s no sunroof. Yet, after some time, he is able to leave the car easily. How?
(ED) ANSWER: The car is a convertible, and the man simply put the roof down.
This would be an example of looking for the solution from a different angle.
Today on Real Estate Mortgage Shoppe we are talking about MORTGAGE APPROVAL ROADBLOCKS-HOW TO OVERCOME HOME REPAIR AND FINANCING CHALLENGES
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 (901) 273-6594
____________________________________________________________
TOPICS COVERED BY ED HILL OF MASTERS ROOFING
Among the most-asked questions by homeowners and business owners is whether to repair or whether to replace old, worn or damaged roofs and exteriors. What makes the best sense when it comes to dollars and cents spent on roofing and exteriors.
Here are a few helpful tips to help in making a decision to repair or to replace:
1. What is the normal life expectancy of the material?
2. How long has that material been installed on the roof or exterior?
3. What is the cost of each material needed to repair versus to replace?
4. Who is available as an experienced contractor to properly perform the repair or replacement?
5. How long will the home or business need to be maintained?
6. Where will the funding come from to repair versus to replace?
7. What approval may be needed to authorize repairs versus replacements?
Seek out competent help in sorting out these and other questions to assist in making the correct choice. Research online to become more knowledgeable. Consider if the repair or replacement is possibly a do it yourself project or definitely a contractor project.
Ed Hill is Senior Consultant with Masters Roofing Memphis and is experienced in roof and exterior repairs and replacements. He is host of MemphisHomeMaintenanceShow.Podbean.Com and a regular guest on Real Estate Mortgage Shoppe heard Saturdays at 11:00 a.m. on KWAM 990AM / 107.9FM and on the KWAM app online. Contact Ed with your questions or to schedule an inspection or estimate.
3RD SEGMENT 12 minutes
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( Small Victories song by Allen McCool playing in background)
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For Did You Know today…(see if you can guess the answer before we do)
Ed Hill to ask the questions and give the hints
(Ed) Question: What is the name of this Memphis man from the early 1900’s that looked at grocery shopping from a different perspective.
Hint #1 Instead of asking how to big a bigger store and hire more order takers, he asked how to create a system so individual shoppers could walk the isles and select their own goods.
Hint# 2 This man broke the traditional shopping model and created the foundation for the modern supermarket.
(Jo) Answer: Clarence Saunders and his first self-service grocery store, Piggly Wiggly on September 6, 1916.
Today on Real Estate Mortgage Shoppe we are talking about “How The New & Improved Reverse Mortgage Can Change Your Retirement”
Today on Real Estate Mortgage Shoppe we are talking about MORTGAGE APPROVAL ROADBLOCKS-HOW TO REPAIR & OVERCOME CHALLENGES
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 (901) 273-6594
TOPICS COVERED BY JO GARNER, LICENSED MORTGAGE OFFICER
Top Mortgage Approval Challenges in 2026
Not Enough Money to Close?
A study few years ago showed that 90% of the people who said they didn’t have enough money to close, thought they needed 20% for the down payment.
Most of my first-time homebuyer mortgage customers get into the home with move-in costs less than 5% to absolutely zero dollars. Let’s explore some zero-down mortgages, down payment assistance programs for first-time buyers and people who are NOT first-time buyers. So the question isn’t “How do I get 20% down?” A better question would be, “what other loan program or assistance program can get me into a home with little or zero down?”
Credit Issues?
Sam and Sally Smith are newly married and expecting their first child. Saddled up with student loan debt had kept them strapped for cash and existing in a small apartment, not large enough for their expanding family. Sam regretted his carefree days in college charging up the credit cards he accepted in the mail. It was so easy to use them –even for necessary items, but a few missed payments and a collection account tanked his scores.
When Sam tried to was denied credit to purchase a car he needed to get to work, reality came like a slap in the face. It was time to make a plan and stick to a plan to get his credit back working for him and not against him.
Sally’s story was a little different. She had stayed away from credit altogether and did not have a credit score at all. Her income was too low to qualify for a house on her own, so the plan was to build her credit and make Sam’s credit better.
When Sam and Sally went to apply for a mortgage to try to get out of the cramped apartment and into a house, the news was not what they wanted to hear. Even if he could improve his credit score up to a 640 from his current 565 score, he would be paying about a half point higher on the interest rate. Over a period of time, the financing would cost him almost $10,000 more than what he would pay if his scores were higher. But he had a plan to move the dial up on his credit scores in just a few months. Sally’s plan would get her a decent credit score in only 30 days.
Sammy set up a payment plan with some of the past due balances that had been haunting him on his credit cards. He made a deal with the credit card companies not to report negatively on him as long as he was making regular payments to pay off the past due balances.
He went online and signed up for a well-known secured credit card. He put up $300 of his own money and kept a balance of no more than $25/month for 3 months which put an extra 50 points on his credit score. Sally’s parents added her to one of their seasoned, low usage credit cards which just about instantly popped her credit score up to around 680 from zero.
To our listeners—Your credit background might be a different that Sam or Sally’s. If you declared full bankruptcy due to extenuating circumstances that lower your income and it has been discharged over 2 years, you may be able to get a mortgage to buy a home. If you had a home foreclosed, you may have a second change at getting a mortgage after 3 years from completion of the foreclosure if you have reestablished good credit.
Let’ s do a soft pull credit report to see what YOU can do to get around the credit roadblock?
Not Enough Qualified Income? People are carrying: Higher car payments, Credit card balances , Student loans, Buy-now-pay-later debt. Many borrowers earn good income but still struggle to qualify because monthly obligations are too high.
Your income ills or pay down credit cards, consult with you mortgage officer. Money in the bank has a lot more priority than a low debt-to-income ratio. A good mortgage officer can see how to get the income-to-debt ratio to an acceptable level using the least amount of pay down on debt. As a licensed mortgage officer, I can help you with possible adjustments or rearrangements to help you get to a mortgage approval.
If you are self-employed and you have been turned down because the bank says you don’t show enough net income on your tax returns, I have other methods of calculating your income that can get you around the income roadblock.
( bank statement loan example. Asset Depletion example)
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 & INSPIRATION
Asking the Right Questions
This famous man born (1879–1955) was a German-born theoretical physicist who revolutionized scientific theory and won the 1921 Nobel Prize in Physics. A pacifist and intellectual giant, he fled Nazi Germany for the U.S., later advising against nuclear arms and declining the presidency of Israel.
This brilliant man developed the world’s most famous equation , demonstrating that mass and energy are interchangeable. He solved conundrums and broke through scientific barriers by changing the perspective and asking different questions.
Let’s apply some wisdom today from the great Albert Einstein who gave us the theory of relativity. Albert Einstein allegedly stated, “If I had an hour to solve a problem and my life depended on the solution, I would spend the first 55 minutes determining the proper question to ask… for once I know the proper question, I could solve the problem in less than five minutes”. He also advised, “We cannot solve our problems with the same thinking we used when we created them”.
What kind of roadblocks is life throwing on your path? Take some advice from Einstein. Change your perspective. Change the questions you asked yourself to discover your way around or through the roadblock.
Today on Real Estate Mortgage Shoppe we are talking about MORTGAGE APPROVAL ROADBLOCKS-HOW TO OVERCOME HOME REPAIR AND FINANCING CHALLENGES
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 (901) 273-6594
REAL ESTATE TIP OF THE WEEK
Ed Hill of Masters Roofing offers his tip from his industry (about 1 minute)
If you are trying to sell your home, getting rid of the wood rot can get you more money from the sale.
Jo Garner’s tip : If you are retired and just take money from your retirement here and there only sporadically, but do not have enough stable income verified to get you approved for the loan you want there is an easy solution. Without the income, one lender might tell the borrower they have to pull more money out of the investments to pay more down get the loan amount and payment lower.
Instead of pulling more money out of an income-product investment, just set up a monthly annuity to show enough income for you to qualify for the loan amount you want. You can always modify the income amount from the investment account later.
Do you want to buy a house or refinance your mortgage but you seem to be hitting a barrier that is keeping you from moving forward? 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 20TH , 2026 9AM CT “Capturing Life Stories Before They Are Lost” by Andrea Wills Bunce Author of Memoirs by Famili Books
This is a Health Talk powered by Mary Lou Nowak of Resource4Care.com , sponsored by Tim Flesner and Genell Holloway of MidSouth Home Helpers and hosted by Talk Shoppe.
Thank you to Peggy Lau, retired US Navy Line Commander and representative of Viago Travel. Do you want to make great memories with your loved ones experiencing first class vacations at bargain prices? Contact Peggy Lau. She can show you how. 901 289-0747.
Thank you to Donna Roach of Hearthside Senior Living in Bartlett, TN for your contributions to our health care and business communities through your contributions to Talk Shoppe. If you are exploring the best options for your loved one to move to a place where they can get assistance, talk with Donna Roach. She is a wealth of information and resources 901 651-2503
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)
QUOTE CORNER Albert Einstein ““We cannot solve our problems with the same thinking we used when we created them”.
REJOINDERS:
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Brandie Spicer, Howling Wolf Bookkeeping www.howlingwolfbooks.com
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Chuck Bohannon, MidSouth Santa Claus booking agent 901 619-6436
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Rob Draughon and Shelley Rothman of Griffin Clift Everton and Maschmeyer 901 752-1133
Transitional Music: First Segment “WAAKA WAAKA” (PD) for Comic Queries; “Small Victories” by Allen McCool allenmccool.com 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 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”