Buying a home is one of the greatest decisions you can make. Watch Scott and Rob to learn more.

 From the October KTHV Interview with Scott McElmurry

No headphones? No problem! Read the transcript below!

Rob: "buying a home is a big decision perhaps the biggest
women will ever make an investment of
the size not to mention all the
financial jargon all the requests all
the paperwork it's like this it's
overwhelming here to navigate the
process president and CEO bank of Little
Rock Mortgage got Scott McElmurry thank
you so much for joining us as always
good to see you it's a this is a time of
the year not the best time you 
normally think spring and summer but
people are buying homes now"

Scott: "they are and
it could be a really good time to buy
because of that simple fact that not a
lot of people are maybe in the market
might find someone who's willing to
negotiate just really need to get out
of their house"

Rob: "and we're talking about a
few moments ago about how Pine Bluff
Police Department was offering a $10 thousand
down payment assistance and that really
is the the problem with 
first-time homebuyers right?"

Scott: "one of the
biggest barriers for first-time
homebuyers is that down payment closing
cost it's not that they can't afford it
I mean they're paying rent right now
anyway right it's just the saving of
that down payment so it's a really good
really good deal for the city of Pine
Bluff"

Rob: "so to walk through this process
what do people need to do if they decide
that they are ready to get out of that"

Scott: "well be informed I mean its first thing
so there's a wealth of information
online some of its good some of it can
be confusing so you kind of need a
baseline of understanding and so I'm
kind of old school I like the phone
conversations they're interactive and
you can ask questions but like our
officers love to educate and one of the
things that they will do especially with
the first-time homebuyer is they may
even prompt questions or answer
questions before they're even asked or
even know to ask so getting that
information down and really
understanding what you're getting into I
think is key"

Rob: "you don't know what you don't know untill you start asking about their tax returns  three years ago well why"

Scott: "well it's not necessarily
that I mean the terminology LTV what's
that mean you know
what are the different loan programs you
know people look at you know interest
rate for example and say well I want the
lowest rate you do but maybe not why you
know just having a lowest interest rate
alone may not be the best program for
you"

Rob: "yeah for sure but what is something
that there's a lot stop while people as
we said is a down payment but you don't
have to have the 20% you only have to
have 10% so many other options"

Scott: "yeah there
really are I mean 3% is kind of the key
for a first-time homebuyer but there are
other programs like state bond programs
that if your income if you're in the
lower income bracket or you don't make
too much money you can actually qualify
with some downpayment assistance much
like the Pine Bluff people were talking
about you can get some of that 3% help
for downpayment assistance and pay it
off over time or potentially get it
forgiven"

Rob: "and one of the good think about
working with an actual person locally
instead of an online you know lender is
you walk through the process and when
you come up with a problem you can kind
of walk you through that"

Scott: "absolutely I
like to say you can get online you can
use us and get online do everything
digitally but you can also come in and
kicked in the door if you need to have some
questions answered"

Rob: "well we appreciate you
and we'll see you next time"