Columbus Mortgage Rate Update

The market again is slightly in our favor but not enough to make rates jump to the next .125% down. Crude Oil is also down this morning. The markets are still suffering from last Friday’s poor jobs report from March.

MORTGAGE TIP OF THE DAY:
Freddie and Fannie are requiring the borrower be on his/her job at least 30 days at closing. Sure makes it difficult to be coming into town with a new employer.

THOUGHT OF THE DAY: (This is the serious part)
“If it weren’t for pickpockets, I’d have no sex life at all.”
Rodney Dangerfield (1921- )
American actor and comedian

FUN FACTS:
The president and the vice-president of the United States are not allowed to travel together.

Tuesday, April 10, 2012, 11:15am

Loan Program Rate: APR*: Payment Estimates:

30 Year Fixed 4.000% (same) 4.072% $954.85 Interest and Principal
• Purchase or rate and term refinance

30 Year Fixed 4.250% (same) 4.198% $969.30 Interest and Principal
• Cash out refinance***

15 Year Fixed 3.250% (same) 3.426% $1,405.34 Interest and Principal
• Purchase or rate and term refinance

15 Year Fixed 3.375% (same) 3.498% $1,417.46 Interest and Principal
• Cash out refinance***

Bond Money 3.875% (same) 4.862% $1132.15 Int. & Princ. & Mtg Ins.
• First Time Homebuyer Bond Money + 1% origination fee

FHA Fixed 3.750% (same) 4.493% $1117.78 Int. & Princ. & Mtg. Ins.
• Purchase or refinance

Jumbo Fixed 5.125% (same) 5.174% $2,275.97 Interest and Principal
• 30 Year Purchase and Refinance over $418,000

LEGAL STUFF

Provided for informational purposes only.

• *APR – Annual Percentage Rate
• **ARM – Adjustable Rate Mortgage (rate may increase after consummation of the loan)
• ***Cash out refinance – Refinance means pulling out at least $2,000 or more or paying off a non-purchase second mortgage

All payments estimates above do not include amounts for property taxes and homeowner’s insurance premiums and your actual payment obligation will be greater.

Annual Percentage Rates and Payment Estimates quoted are based on a $200,000 loan amount and Jumbo fixed loan amount is $418,000 and 20% down payment with the exception to the FHA and OHFA quotes which are based on a 3.5% down payment.

Qualifying Assumptions (unless otherwise noted): 30 day rate lock, $200K-$417K loan amount, credit scores 740+, Owner-occupied Purchase or rate/term refinance, 75% loan to value. Cash-out refinances (including paying off a non-purchase 2ndmortgage) could result in a slightly higher interest rate. The interest rates quoted are to serve as a guide only and may be different based on specific loan features. Please call for a specific quote.

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.

THINGS MY MOM WOULD HAVE SAID:
Don’t let anyone talk you out of pursuing what you know to be a great idea.

Rates and APRs Established By:

STEVE WAGNER Mortgage Consultant
614-445-6667…stevewagner@stevewagnermortgage.com

The Martin, Traxler & Wagner Team of Priority Mortgage Corp.

888.332.5301 Toll Free
614.474.8050 Fax
www.prioritymortgage.com

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