Mortgage Market & Rates

Columbus Mortgage Rates: :-)….yes sir!!!

Friends

Unemployment came out this morning and it was worse than last month. As you know, bad economic news makes mortgage rates go down. The stock market is down this morning, crude oil down, the dollar up against the Euro. The good news is mortgage rates are down.

Mortgage Tip of the Day: The deadline for buying a house to qualify for the $8,000 stimulus money is December 1, 2009. You may either wait until you file your 2009 taxes next winter to get the $8,000 or you may amend your 2008 taxes to get the $8,000 immediately but you must close before November 1, 2009 to do that.

Thought of the Day: Success is the prize for those who stand true to their ideas.

Today’s Fun Fact: Baseball great Jackie Robinson’s brother Mark finished second to Jesse Owens in the 200-meter race in the 1936 Olympics.

You know you’re From Columbus when… …you get upset Columbus was once again invisible on a national—regional weather map. (but of course, Cincinnati, Cleveland and even Toledo appear)

Fact or Crap? Beetles constitute one fifth of all the world’s living organisms.

Legal Stuff

These rates are effective as of Thurs., July 2, 2009 at 11:30am. These rates can change without notice.

Rates: 07/02/09

5.250% 30 year fixed (down .125%) purchase or rate and term refinance

5.375% 30 year fixed (down .125%) cash out refinance***

4.750% 15 year fixed (down .125%) purchase or refinance

4.875% 15 year fixed (down .125%) cash out refinance***

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

5.500% FHA Fixed (same)

6.250% 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.

7/1 and 30 due in 10 require 30% down for Jumbos, 10% down for non-jumbos, 740+ credit scores, owner occupied Fannie Mae loans.

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

7/1 ARM and 30 due in 10 yrs. More than $417,000 require auto. Payment

30 due in 10 years @80% LTV, $100,000 loan amount

7/1 Rate may increase after consummation.

30 Year Fixed APR 5.343% $552.20 Interest and Principal

30 Year Fixed Cash Out APR 5.469% $559.97 Interest and Principal

15 Year Fixed APR 4.908% $777.83 Interest and Principal

15 Year Fixed Cash Out APR 5.033% $784.30 Interest and Principal

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

FHA APR 6.437% $623.56 Interest, Principal, Mortgage insurance

Jumbo 30 Year APR 6.335% $2,574.88 Interest and Principal

Answer: FACT: It is estimated that there are between five and eight million species of beetles in the world.

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