Hopefully, if you have purchased a home in the past, your experience was a good one. If it was not a good experience, can you imagine working with a reputable realtor and experienced mortgage officer who gave you confidence so that you could relax and enjoy the homebuying journey? Click to hear this podcasts on ways you can pick the right professional to help you get to where you want to be.
Host: #JoGarner #mortgageExpert #MortgageLoanOfficer 901 482-0354
Co-host: #EdHill #MastersRoofing #memphisroofer 901 273-6594
Subscribe to get weekly Real Estate Mortgage Shoppe podcasts with show notes www.JoGarner.com
#memphismortgage #memphisrefinance #bestrealtor #bestroofer #homebuyer #bestrealestatedeal
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: PICKING THE RIGHT MORTGAGE, THE RIGHT REALTOR & OTHER REAL ESTATE PROFESSIONALS. Thank you to real estate attorneys, Rob Draughon and Shelley Rothman of Griffin, Clift, Everton and Maschmeyer for sponsoring the episode. For your home purchase or refinance call Rob and Shelley at 901 752-1133Today is March 8. th, 2025 Call in to the live show at 901 535-9732
Introducing Ed Hill of Masters Roofing
(Jo) Ed Hill of Masters Roofing is back in the Real Estate Mortgage Shoppe studio. Ed, you have been the senior consultant with Masters Roofing for well over a decade. You have your own podcast www.MemphisHomeMaintenanceShow.podbean.com. Ed Hill, take a few minutes to introduce yourself and tell us what you do to help your customers. (Ed Hill has about a minute and a half to intro himself and talk about the services he offers his customers)
(Jo) Hopefully, if you have purchased a home in the past, your experience was a good one. If it was not a good experience, can you imagine working with a reputable realtor and experienced mortgage officer who gave you confidence so that you could relax and enjoy the homebuying journey? I remember working with this young lady we will call Katherine. Not only was her realtor committed to make Katherine’s homebuying journey smooth, but both Katherine and her realtor made our job on the mortgage side easier too.
CONFIDENCE IN HER HOMEBUYING CHOICE-KATHERINE’S STORY
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Katherine was in her late 20’s, out of college and just getting started in her career. She wanted freedom to eat out and have fun after work and on the weekends. She wanted to have that peace of mind that she could move when and where she needed to get farther in her career. She did not want to feel stuck.
But some of her friends had bought their homes. But Katherine did not want to feel hemmed in or stuck with a mortgage commitment. She felt like she could never get ahead with her rent going up each month year and surely there had to be some way to buy a house and still not feel stuck.
The realtor did some research on the neighborhoods that interested Katherine. Katherine could buy a house in a neighborhood that traditionally continued to go up in value year after year Her payment would be about one-third less than she would be paying in rent for the same type house. The interest rate on the mortgage was fixed for 30 years, so no more rent increases every year.
For Katherine, it was all about having some profitable exit strategies—just in case she ever wanted to move and not be tied to the house. Katherine could see three possible exit strategies to use if she should ever decide to move.
The first exit strategy considered that the values had been steadily going up. She could probably sell at a profit even after only a short time.
The second possible exit strategy involved the FHA loan program Katherine used for her financing. The FHA program allows for the borrower to later allow a subsequent buyer to assume that mortgage if they can qualify with whichever bank will be servicing the loan at the time of the assumption. In a market of rising rates, having the ability to allow someone to take over her low interest loan, gave her a further advantage for selling.
The third possible exit strategy involved the neighborhood where Katherine purchased her property. It was in a market that would allow her to rent her house out one day for much higher than her payment, which would give her a third profitable exit strategy. No more feeling stuck! No more having to worry about how much the landlord would hike the rent either.
The key to Katherine having less stress and success with her homebuying process came from the realtor, the mortgage officer and other experienced professionals in the process having knowledge and communicating well with each other.
Do you want to buy a home or refinance to pull some cash out of a home you already own? Call me today at 901 482-0354. I can help you find the right mortgage program and make the mortgage process easy for you. My mission is for you to enjoy success and less stress on your mortgage journey. Let’s explore your financing options today. www.Jogarner.com
(Jo) Ed Hill of Masters Roofing, you are known for going beyond expectations with the work you do on home exteriors and roofs. Even after your team had finished installing my roof and swept up the nails, you went back again and swept the area to make SURE no nails were left on the ground. I knew I had picked the right contractor. What can you share with us about picking the right contractor ? (Ed Hill has until 9:15 break to get into his topics. We can 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 our home maintenance and roofing expert, Ed Hill of Masters Roofing. We will see you back in just a moment.
2nd segment 9:18 am – 9:30 am
2nd segment is after 9:15 break from about 9:18Am to 9:30 AM break
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TOPICS COVERED BY ED HILL OF MASTERS ROOFING
When homeowners and business owners need to choose a contractor for repairs or improvements it’s Anxiety City! What if the wrong contractor is chosen? What if the result is less than hoped for? What if something goes very wrong?
Follow this proven plan for Choosing Great Contractors
Publicity
Good news travels fast. Bad news travels even faster! Read detailed customer reviews online and in print. Google Reviews, Better Business Bureau, GuildQuality, among many offer insights into the strengths and Weaknesses of contractors such as painters, electricians, roofers, lawn care, cleaners, landscapers, home builders, plumbers, security , and many other types of contractors. Do not only ask neighbors, friends, and coworkers, because their contractor may have done work for them on a day when everything went right.
Personnel
Visit the website other platforms that introduce the ownership and staff of the contractor you are considering. If names positions are provided do some background research online to see what comes up period. Call or visit the office of the contractor to meet some of the professionals that may be awarded to the business to work in and around your home or business. In most cases, your sixth sense will confirm to you that these are professionals you will feel comfortable working with for a few days weeks or months or you may realize that you would feel uncomfortable work working with the personnel .
Products
Ask detailed questions about the products and materials that may be installed or used or applied to repairs or improvements at your home or business. Ask to see and handle the materials in order to understand the quality or the lack of quality of the proposed materials. Research the reputation of the materials online in forums where professionals discuss various pros and cons of the materials being considered period. Research the reputation of the manufacturers.
Procedures
Ask questions to the contractor and online regarding workmanlike procedures for installing or applying products for your home or business repair or improvement. What are the manufacturers guidelines and suggestions regarding the use of the products in terms of maintaining warranties? Visit a work site where a project is in progress in order to observe the workers and supervision and observe how the work is performed. Require in writing a basic outline of the work to be done and how it is to be done and what materials are to be used.
Pricing
Unfortunately, many homeowners and business owners make critical mistakes in choosing contractors based primarily on the price they feel is the best price for them. A lower price may not include the level of expertise or a high grade of material or the proper procedures will be followed. Often, in construction the old saying you get what you pay for is both true and false! Sometimes when you select A contractor based on price and it’s a low price you will often get a low quality of work and sometimes when you pay a higher price but have not vetted the company you may not get what you think you should get for a higher price. A good rule of thumb is to spend the highest affordable amount for the best grade of material installed by the most skilled workers in order to expect the best result.
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3rd SEGMENT 9:35 AM-9:45AM)
TOPICS COVERED BY JO GARNER, LICENSED MORTGAGE OFFICER
Selecting the right mortgage can save you thousands over time and improve your cash flow:
Questions to ask yourself first:
How much can I comfortably afford for a monthly house payment”
How much can I comfortably put down for down payment, closing costs and prepaid taxes and insurance?
Want to get a heads-up about your credit? You can pull your own with no hit to your credit score at www.annualcreditreport.com or I can do a softpull credit report in the beginning which would not affect your credit score like a full hard credit pull.
How long do you plan to keep the house and the mortgage?
1. Conventional vs. Government-Backed Loans – If you have strong credit and a solid down payment, a conventional loan offers better rates. If not, don’t worry. Consider FHA, the Veteran loan or USDA Rural Housing loans for lower down payment options.
2. Fixed-Rate vs. Adjustable-Rate Mortgage (ARM) – A fixed-rate mortgage offers predictable payments, while an ARM may be better if you plan to sell or refinance before the rate adjusts.
3. Loan Term (15 vs. 30 years) – A 15-year loan builds equity faster and saves on interest, while a 30-year loan offers lower payments and better cash flow.
4. Compare with your lender which loan program would costs you less overtime in mortgage insurance that only helps the lender. The less of this you pay, the better.
5. If a mortgage company has said you don’t show enough income from your self-employment on your tax return, let’s look at some outside-the-box loans that find income on your bank statements.
6. Investor Loans & DSCR Loans – If investing, consider debt-service coverage ratio (DSCR) loans, which focus on rental income rather than personal income.
Also see the “Get-It-Right-the-First-Time Checklist in the appendix of the book “Choosing the Best Mortgage-The Quickest Way to the Life You Want”
Working with the Right Real Estate Professionals
The right team can make or break your deal:
- Real Estate Agent – Choose an agent with experience in your target market, strong negotiation skills, and a track record with similar properties.
You may have seen the ad where the homebuyer is telling his buyer’s agent, “I don’t want to pay you 3% of the sales price to represent me.” The buyer’s agent replies, “You don’t have to pay me the 3% of the sales price to represent you as your buyer’s agent. You can pay me $X dollars per hour.” The buyer selects to pay his agent by the hour They get to closing and the buyer’s agent hands his client an $18,000 bill—twice the costs it would have been at 3% of the price.
“Why is the bill so high,” exclaims the home buyer?
The agent starts listing all of the tasks he did from showing the buyer 30 homes, negotiating back and forth with the seller’s agent, meeting the termite company at the house and a hosts of other tasks the homebuyer had no idea the realtor representing the buyer did to make his homebuying process successful.
Whether you are a home buyer or a home seller-pick an experienced realtor who has good reviews and a good reputation for taking good care of their customers. The realtors knowledge of the market, negotiating skills, resources to help make the transaction smoother—they are worth the commissions they earn. They can save you a LOT more time, heartache and money than you ever pay in a real estate commission by leading you around delays and pitfalls.
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Mortgage Broker/Lender – A good lender explains loan options clearly and offers competitive rates. Find a experienced mortgage loan officer with good reviews. (I would like to sign up for the job as your mortgage lender.) It is important that the loan officer listens to what you want and finds the right mortgage product that fits your comfort level on the monthly payment and down payment. A good mortgage officer finds a mortgage program that fits what you want today and also what you need over the next five to ten years.
Watch out for the smooth talkers with bad online reviews. We will call this homebuyer Wendy Wish-I-Had-Stayed-With-You-As-My-Lender (not her real name.)
Wendy found the perfect home. Her realtor referred her to me for her mortgage. Wendy and I explored a couple of mortgage products that would meet her comfort level on the monthly payment and down payment. Our team reviewed Wendy’s credit and other supporting documents, giving her a firm preapproval.
Once her home purchase contract was signed, Wendy started getting calls from other mortgage companies from out of the area promising her they could get her a much lower mortgage rate and less costs. Wendy was so excited about the lower rate. She signed up with the online lender and thought she had hit the jackpot. Less than two weeks from her closing date, the mortgage company informed her that she did not qualify for the low interest rate program after all. They needed to switch her to a different mortgage program, and, oh by the way, the rate was much higher and so were the loan costs. Wendy confessed she wanted to come back to our office but felt at that late date like it might delay the closing with the online lender so she grudgingly stayed with the other lender.
If Wendy had checked the Better Business Bureau ratings and other reviews, she would have seen that this particular online company had amassed many complaints from borrowers who had a similar experience to Wendy’s. That is one way to ward off bad mortgage players. If the offer is too good to be true…well, you know the rest.
There are plenty of good mortgage lenders in the market place, local ones and online companies. Check their reviews before contacting them.
I would be delighted if you would include me in the lenders you are considering for your home purchase or refinance. Let’s take the time to find the right mortgage product. My mortgage team and I make it our mission to make the mortgage process EASY for you.
Are you planning to buy a home? Do you want to refinance and consolidate some debt to reduce your overall monthly debt payments or modify your home?
For your mortgage, call or text me at 901 482-0354 or connect with me at JoGarner.com
3. Real Estate Attorney – Useful in complex deals, especially for commercial properties or investor transactions.
4. Home Inspector – Prevent costly surprises by hiring a thorough and reputable inspector.
5. Appraiser – Ensures you don’t overpay or get under-appraised when refinancing.
6. Title Company – Protects against title issues that could cost you thousands in legal fees.
7. Property Manager (for Investors) – Helps maximize rental income and maintain the property efficiently.
By carefully selecting the right mortgage and professionals, you can increase profits, reduce risks, and ensure a smooth transaction.
THE GET-IT-RIGHT-THE-FIRST-TIME-MORTGAGE-CHECKLIST
BY: Jo Garner, Mortgage Loan Officer NMLS# 757308
(901) 482-0354 Secure online loan application http://www.HomeVantage.com/Jo-Garner
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What is the maximum house payment I can afford right now?
A. Several financial gurus say that your total house note including principal and interest, taxes, homeowners insurance, and/or mortgage insurance and homeowners association fees needs to be between 25% and 30% of your gross income. Your total income-to-debt ratios, including the new house payment and payments on other debt does not need to exceed 38% to 45% of your gross income.
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Mortgage underwriting software can sometimes approve you income-to-debt ratios of 45% or upwards to 55% of your gross income. Stay within your PERSONAL comfort level though, regardless of what the mortgage software tells you.
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Consider where you plan to be in the next year, the next five years, and the next ten years.
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Are you planning to retire? What will your income be when you retire? Will you still be living where you are living now?
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Are you planning to get married? Do you plan on expanding your family? Do you plan on taking an aging family member into your home? How much do you estimate your living expenses go up? Will your income likely increase too? How much?
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Are you just getting started in your career? Is it likely your income will go up? Will you need to relocate? How long is it likely you will keep the house? What would it cost to rent versus buy a home like the one you want?
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Do you own a house with a lot of equity that you plan on selling within a year of buying the new house? Do you plan to make a very large prepayment to principal once you sell your old home?
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Do you plan on starting your own business or acquiring income-producing real estate? This might require you to keep your mortgage payment low so that you can afford to finance other investments.
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What is the maximum down payment that is comfortable for you?
Several financial gurus say that if you enjoy a stable, salaried job, you probably need about 3 months of living expenses in an emergency fund. But, if you are self-employed or get a 100% commission income, you probably need about 1 full year of living expenses in an emergency fund
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What kind of property are you purchasing?
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If the property is a fixer-upper with lots of needed repairs, you may want to consider a Renovation and Repair loan so you can finance some of the repairs.
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Is the property you are purchasing going to be your primary residence, a second home or a rental property?
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Is the property you are financing a condominium or a manufactured home?
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Is the property located in a place where special financing is available?
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What special mortgage programs are available to you specifically?
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Are you a military veteran? Are you eligible for the Veteran Administration 100% VA home loan?
B. Are you a first-time homebuyer, not having your name on title to real estate within the last 36 months? There may be down payment assistance programs available to you, even if you are not a first-time homebuyer.
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What methods can we use to develop more than one exit strategy?
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Is the property in an area that is going up in value? If you really needed to sell the home one day, you could probably do it profitably if the value is stable or headed upward.
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Is the property in an area that is a strong rental market? In a pinch, you could possibly rent the house and get a nice income from the home.
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Is the mortgage you have an assumable loan? If mortgage rates go up, one day someone may be willing to pay you good money to have the opportunity to quality to assume your low interest rate mortgage when they buy your home.
What do YOU want to accomplish with YOUR mortgage?
Thank you for allowing me to be on your mortgage financing journey.
REAL ESTATE TIP OF THE WEEK
Ed Hill’s Real Estate Tip of the Week (about 1.5 minutes)
Jo Garner’s tip (about 1 minute)
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 Manny Corless and Ben Hunter (615-601-0568) outstanding Financial Professionals at Independent Planning Group for being Talk Shoppe’s location sponsor)
Talk Shoppe on Wednesday March 13th, 2025 “Get Fiscally Fit” presented by Mark Loden of MKO Personal Budgeting Service
Join in person or online by clicking www.TalkShoppe.com and click the Events tab for the link to get into the event online.
Talk Shoppe could not offer the free educational networking events free to our community without some very giving sponsors. Thank you to Mark McLaurine of Refrigeration Unlimited. Mark McLaurine is well-known as one of those people who goes the extra mile for his clients. Mark looks for ways to fix the underlying problem causing a problem which saves his customers money. When you heating or air conditioning is on the blink, call Mark McLaurine at 901 216-7782.
Talk Shoppe is free to you because of the generosity of people like Tim Flesner and Genell Holloway, owners of Mid-South Home Helpers, non-medical care for your loved one who needs help with daily living to remain safely in their home. Call 901) 414-9696
6. Subscribe today for weekly podcasts with show notes at www.JoGarner.com
Real Estate Mortgage Shoppe reminds you to MAKE YOUR PLAN. LET’S WORK YOUR PLAN. IF THE DEAL WORKS FOR YOU TODAY, DO IT TODAY.
SPECIAL NOTE: REAL ESTATE MORTGAGE SHOPPE 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:
Good things happen in your life when you surround yourself with positive people. Roy Bennett
REJOINDERS:
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Sherry Harbur of Harbur Realty in Collierville, TN 901 878-3308
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Clint Cooper of Redeemers Group (foundation and crawl space repair) www.RedeemersGroup.com
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Pat Goldstein, Realtor with Crye-Leike in West TN and North Mississippi 901 606-2000
Transitional Music: “Up on the Roof” by the Drifters; “Fall” by Atlus; “I’m Your Realtor and You Know It” Asif Khan;
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
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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”