Mortgage Market & Rates

Columbus Mortgage Rates: :-CO…Yawn with a long, droopy mustache!!!

People
The markets are slipping against us this morning but not enough to affect our mortgage rates. Lots of things happening with the economy, good and bad. This is exciting.

Mortgage Tip of the Day: Today we are celebrating The Arlington Bank’s 10th Anniversary. Tonight the company is having a very nice dinner for all the employees to say “Thanks” for a great 10 years. We are delighted that we are still profitable and solvent in spite of the worst recession since The Great Depression.

Thought of the Day: Obstacles are those frightful things you see when you take your eyes off your goal.

Today’s Fun Fact: Over one million drawings went into the movie production of “Pinocchio”.

You know you’re
From Columbus when… …you KNOW Wal-Mart is only cool to go to at night when you’re hammered.

Fact or Crap?: Lorenzo the Magnificent was a famous member of the ruling Medici family of Florence.

Legal Stuff

These rates are effective as of Thurs., May 7, 2009 at 11:30am. These rates can change without notice.

Rates: 5/7/09 4.875% 30 year fixed (same) purchase or rate and term refinance

5.000% 30 year fixed (same) cash out refinance***

4.625% 15 year fixed (same) purchase or refinance

4.750% 15 year fixed (same) cash out refinance***

5.500% + 1% Origination fee, First Time Homebuyer Bond Money (same)

5.000% FHA (same)

5.250% VA (same)

7.500% Jumbo 30 year fixed (same)

***Cash out refinance means pulling out at least $2,000 or more or paying off a non-purchase second mortgage.

30 days, escrow, $110K thru $417K loan amount, owner occupied, single family house, non condo, 740+ credit score (FHA, VA and Bond Money totally different parameters), 0% points, 0% origination fee.

We CANNOT lock in an interest rate on a loan with a voicemail or email. The customer MUST talk to the loan officer over the phone or in person before it can be confirmed. The market changes too frequently. We recommend calling during business hours to make sure we have all the markets open and available.

Fixed Rates and 10/1, 7/1 ARM rates @80% LTV, $100,000 loan amount

Bond Money Rates @ 97% LTV, $100,000 loan amount

FHA Rates @ 96.5% LTV, $100,000 loan amount

VA Rates @ 100% LTV, $100,000 loan amount

Jumbo Rates @ 80% LTV, $418,000 loan amount

30 Year Fixed APR 4.953% $529.21 Interest and Principal

30 Year Fixed Cash Out APR 5.079% $536.82 Interest and Principal

15 Year Fixed APR 4.759% $771.40 Interest and Principal

15 Year Fixed Cash Out APR 4.885% $777.83 Interest and Principal

Bond Money APR 6.150% $616.94 Interest, Principal, and Mortgage insurance

FHA APR 5.949% $592.05 Interest, Principal, Mortgage insurance

VA APR 5.293% $549.71 Interest and Principal

Jumbo 30 Year APR 7.591% $2,921.82 Interest and Principal

Answer: FACT: Lorenzo was an Italian statesman and ruler of the Florentine Republic during the Italian Renaissance.

Thanks for reading!!!!

Stephen Wagner

Mortgage Lender since 1974
The Arlington Bank
4621 Reed Road
Columbus, OH 43220
Office: 614-486-9104
Cell: 614-271-0888
Fax: 614-486-4078