Go out there and sell something today.

MORTGAGE TIP OF THE DAY:
Last year the Federal Government came out with a new law we lenders had to abide by. The law stated we are not allowed to close a mortgage loan faster than 8 days. If you are in a jam due to a loan stuck in “Big Bank Underwriting Hell” we can make it happen quick. All we need is a buyer who will cooperate.

THOUGHT OF THE DAY:
A problem well stated is a problem half solved.
Charles F. Kettering

TODAY’S FUN FACT:
The original purpose of the Empire State Building in New York City was for the docking of dirigibles.

Rates: Wednesday, July 28, 2010, 10:30 am

Loan Program Rate: APR*: Payment Estimates:

30 Year Fixed 4.375% (-.125) 4.464% $499.59 Interest and Principal
• Purchase or rate and term refinance

30 Year Fixed 4.500% (-.125) 4.589% $506.69 Interest and Principal
• Cash out refinance***

15 Year Fixed 4.000% (same) 4.154% $739.69 Interest and Principal
• Purchase or rate and term refinance

15 Year Fixed 4.125% (same) 4.280% $745.97 Interest and Principal
• Cash out refinance***

Bond Money 4.750% (same) 5.380% $570.77 Int. & Princ. & Mtg Ins.
• First Time Homebuyer Bond Money + 1% origination fee

FHA Fixed 4.250% (-.125) 4.839% $546.39 Int. & Princ. & Mtg. Ins.
• Purchase or refinance

Jumbo Fixed 5.750% (same) 5.846% $2,439.32 Interest and Principal
• 30 Year Purchase and Refinance over $417,000

3/1 ARM** 3.875% (same) 4.529% $470.24 Interest and Principal
• Up to $1,000,000 purchase or refinance. Payment would adjust to $510.60 in 3 years (4.375% interest rate) if the rate were to adjust based on the current index rate

5/1 ARM** 4.250% (same) 4.568% $491.94 Interest and Principal
• Up to $1,000,000 purchase or refinance. Payment would adjust to $511.20 in 5 years (4.250% interest rate) if the rate were to adjust based on the current index rate

LEGAL STUFF

• *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 $100,000 loan amount except the 5/1 ARM, 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): 45 day rate lock, $100K-$417K loan amount, credit scores 740+, Owner-occupied Purchase or rate/term refinance. Cash-out refinances (including paying off a non-purchase 2nd mortgage) 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.

ON THIS DATE IN HISTORY:
On this date in 1933 the very first singing telegram was delivered, wishing a happy birthday to Rudy Vallee.

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

Foreclosure is not the only option when you are having trouble paying your mortgage, please contact one of our team members at 614-888-6100 for additional information without obligation. We’re here to help.

by Richard Cordray

Last year new foreclosure filings in the state reached record highs, and today about 192,000 mortgages in Ohio are in trouble, according to research by Policy Matters Ohio.

Foreclosures can devastate communities by displacing families and decreasing housing values. Empty properties become urban blight and offer inviting refuges for criminals to set up shop. Services supported by property tax revenue take a hit. Before long, the fabric of a community is in tatters.

Sen. Jack Reed of Rhode Island perhaps said it best when he noted that “on Main Street, the recovery will begin when foreclosures stop.” The economy cannot bounce back if Americans continue to lose their homes and neighborhoods continue to struggle with the problems presented by empty properties.

My office is taking action on several fronts to help combat this serious issue.

Last month we joined the Ohio Department of Commerce to sue a California-based company that failed to live up to its agreement with the state to offer reasonable loan modifications to eligible borrowers and has offered poor customer service. That business, Carrington Mortgage Services, LLC, does not make loans, but instead services them. A mortgage lender offers loans to potential home buyers while servicers collect the mortgage payments.

Servicers thus are best positioned to work with homeowners to modify loans. However, the U.S. Department of Treasury recently noted something that has been evident to my office for some time: Most mortgage loan servicers are not living up to their commitments to help keep people in their homes.

We plan to hold mortgage servicers accountable for doing business fairly in the state of Ohio. I joined five other attorneys general to urge the federal departments of Treasury and Housing and Urban Development to impose stricter requirements on mortgage servicers and lenders. My office also recently asked Ohio’s congressional delegation for additional funds for housing counseling agencies, which are on the front lines of fighting this immense problem.

In addition to shabby business practices like those of some mortgage servicers, the scam artists are out in full force, as is so often the case in tough times. Unscrupulous operators play on foreclosure fears by running rescue scams that falsely promise to negotiate with lenders or provide “special bailout funds,” but after taking your money, they fail to deliver.

To combat this problem, my office has issued 25 cease-and-desist demands and filed five lawsuits against businesses suspected of operating rescue scams in Ohio. We are demanding that the companies halt all unfair and deceptive practices. The lawsuits charge them with multiple violations of Ohio law.

To provide real foreclosure assistance, my office has partnered with other state agencies to create Save the Dream, Ohio’s foreclosure prevention effort. Save the Dream connects homeowners to housing counseling agencies, legal aid and mediation. In the first half of 2009, the Save the Dream hotline received 16,517 calls. We also have created Save Our Homes task forces in most counties to match homeowners with community services to help keep them in their homes if at all possible. Finally, we have teamed up with the courts to foster Foreclosure Mediation programs to avoid foreclosure orders by arranging mortgage loan workouts where feasible.

I encourage Ohioans worried about losing their homes to call Save the Dream at (888) 404-4674 or visit www.SaveTheDream.Ohio.gov. To report a foreclosure rescue scam, contact my office at (800) 282-0515 or at www.SpeakOutOhio.gov.

Richard Cordray is the Ohio Attorney General.

Go out there and sell something today.

MORTGAGE TIP OF THE DAY:
Investment properties on a single family house needs 20% down and a 2 through 4 family needs 25% down. Fannie Mae will allow a lower down payment for single family properties but we can’t find a PMI that will underwrite that loan.

THOUGHT OF THE DAY:
The difference between failure and success is doing a thing nearly right and doing it exactly right.
Edward C. Simmons

TODAY’S FUN FACT:
Herbert Hoover was the first president to have a phone on his desk.

Rates: Tuesday, July 27, 2010, 11:00 am

Loan Program Rate: APR*: Payment Estimates:

30 Year Fixed 4.500% (+.125) 4.589% $506.69 Interest and Principal
• Purchase or rate and term refinance

30 Year Fixed 4.625% (+.125) 4.715% $514.14 Interest and Principal
• Cash out refinance***

15 Year Fixed 4.000% (+.125) 4.154% $739.69 Interest and Principal
• Purchase or rate and term refinance

15 Year Fixed 4.125% (+.125) 4.280% $745.97 Interest and Principal
• Cash out refinance***

Bond Money 4.750% (same) 5.380% $570.77 Int. & Princ. & Mtg Ins.
• First Time Homebuyer Bond Money + 1% origination fee

FHA Fixed 4.375% (+.125) 4.968% $553.85 Int. & Princ. & Mtg. Ins.
• Purchase or refinance

Jumbo Fixed 5.750% (same) 5.846% $2,439.32 Interest and Principal
• 30 Year Purchase and Refinance over $417,000

3/1 ARM** 3.875% (same) 4.529% $470.24 Interest and Principal
• Up to $1,000,000 purchase or refinance. Payment would adjust to $510.60 in 3 years (4.375% interest rate) if the rate were to adjust based on the current index rate

5/1 ARM** 4.250% (same) 4.568% $491.94 Interest and Principal
• Up to $1,000,000 purchase or refinance. Payment would adjust to $511.20 in 5 years (4.250% interest rate) if the rate were to adjust based on the current index rate

LEGAL STUFF

• *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 $100,000 loan amount except the 5/1 ARM, 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): 45 day rate lock, $100K-$417K loan amount, credit scores 740+, Owner-occupied Purchase or rate/term refinance. Cash-out refinances (including paying off a non-purchase 2nd mortgage) 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.

ON THIS DATE IN HISTORY:
In 1940 “Billboard” magazine published its first top selling record chart.

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

Go out there and sell something today.

MORTGAGE TIP OF THE DAY:
As you are probably aware, the Federal Government is making us disclose to the borrower the owners title insurance charge however in Central Ohio, the seller pays it. We show that as a charge then turn around and credit the borrower from the seller the same amount. It is very confusing to the buyer.

THOUGHT OF THE DAY:
It is much less expensive to prevent errors than to rework, scrap, or service them.
Phillip B. Cosby

TODAY’S FUN FACT:
Statistics show that Saturday is the most dangerous day to drive an automobile.

Rates: Monday, July 26, 2010, 10:30am

Loan Program Rate: APR*: Payment Estimates:

30 Year Fixed 4.375% (same) 4.464% $499.59 Interest and Principal
• Purchase or rate and term refinance

30 Year Fixed 4.500% (same) 4.589% $506.69 Interest and Principal
• Cash out refinance***

15 Year Fixed 3.875% (same) 4.029% $733.44 Interest and Principal
• Purchase or rate and term refinance

15 Year Fixed 4.000% (same) 4.154% $739.69 Interest and Principal
• Cash out refinance***

Bond Money 4.750% (same) 5.380% $570.77 Int. & Princ. & Mtg Ins.
• First Time Homebuyer Bond Money + 1% origination fee

FHA Fixed 4.250% (same) 4.338% $491.94 Int. & Princ. & Mtg. Ins.
• Purchase or refinance

Jumbo Fixed 5.750% (same) 5.846% $2,439.32 Interest and Principal
• 30 Year Purchase and Refinance over $417,000

3/1 ARM** 3.875% (same) 4.529% $470.24 Interest and Principal
• Up to $1,000,000 purchase or refinance. Payment would adjust to $510.60 in 3 years (4.375% interest rate) if the rate were to adjust based on the current index rate

5/1 ARM** 4.250% (same) 4.568% $491.94 Interest and Principal
• Up to $1,000,000 purchase or refinance. Payment would adjust to $511.20 in 5 years (4.250% interest rate) if the rate were to adjust based on the current index rate

LEGAL STUFF

• *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 $100,000 loan amount except the 5/1 ARM, 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): 45 day rate lock, $100K-$417K loan amount, credit scores 740+, Owner-occupied Purchase or rate/term refinance. Cash-out refinances (including paying off a non-purchase 2nd mortgage) 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.

ON THIS DATE IN HISTORY:
On this date in 1947 the Department of Defense, the National Security Council and the CIA were founded.

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

Go out there and sell something today.

MORTGAGE TIP OF THE DAY:
In the current Financial Reform Act that is before Congress right now, one of the provisions in it is that all Mortgage Loan Officers shall be on “salary” not commission. It passed one portion of Congress yesterday. This will have a tremendous impact on the entire Real Estate industry.

THOUGHT OF THE DAY:
The only way to keep your health is to eat what you don’t want, drink what you don’t like, and do what you’d rather not.
Mark Twain

TODAY’S FUN FACT:
Great Danes come from Germany, not Denmark.

Rates: Friday, July 16, 2010, 10:45am

Loan Program Rate: APR*: Payment Estimates:

30 Year Fixed 4.375% (same) 4.464% $499.59 Interest and Principal
• Purchase or rate and term refinance

30 Year Fixed 4.500% (same) 4.589% $506.69 Interest and Principal
• Cash out refinance***

15 Year Fixed 3.875% (-.125) 4.029% $733.44 Interest and Principal
• Purchase or rate and term refinance

15 Year Fixed 4.000% (-.125) 4.154% $739.69 Interest and Principal
• Cash out refinance***

Bond Money 4.750% (same) 5.380% $570.77 Int. & Princ. & Mtg Ins.
• First Time Homebuyer Bond Money + 1% origination fee

FHA Fixed 4.250% (-.125) 4.338% $491.94 Int. & Princ. & Mtg. Ins.
• Purchase or refinance

Jumbo Fixed 5.750% (same) 5.846% $2,439.32 Interest and Principal
• 30 Year Purchase and Refinance over $417,000

3/1 ARM** 3.875% (same) 4.529% $470.24 Interest and Principal
• Up to $1,000,000 purchase or refinance. Payment would adjust to $510.60 in 3 years (4.375% interest rate) if the rate were to adjust based on the current index rate

5/1 ARM** 4.250% (same) 4.568% $491.94 Interest and Principal
• Up to $1,000,000 purchase or refinance. Payment would adjust to $511.20 in 5 years (4.250% interest rate) if the rate were to adjust based on the current index rate

LEGAL STUFF

• *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 $100,000 loan amount except the 5/1 ARM, 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): 45 day rate lock, $100K-$417K loan amount, credit scores 740+, Owner-occupied Purchase or rate/term refinance. Cash-out refinances (including paying off a non-purchase 2nd mortgage) 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.

ON THIS DATE IN HISTORY:
In 1945 scientists exploded the first atomic bomb at Alamagordo, New Mexico.

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

Go out there and sell something today.

MORTGAGE TIP OF THE DAY:
First time home buyer bond money has an option where the State will GIVE a buyer 2.5% of the 3.5% down required by FHA. They do, however, jack up the rate by .50%. Have the seller pay the buyers closing costs, close near the end of the month, because of the tax proration credit wiping out the escrows and into the down payment, the buyer can come to closing with little money. It is ideal for those folks who just don’t have much money and have no one to gift them money.

THOUGHT OF THE DAY:
“Celibacy is not hereditary.” Guy Golden

TODAY’S FUN FACT:
The word “karate” means empty hand.

Rates: Thursday, July 15, 2010, 10:30am

Loan Program Rate: APR*: Payment Estimates:

30 Year Fixed 4.375% (-.125) 4.464% $499.59 Interest and Principal
• Purchase or rate and term refinance

30 Year Fixed 4.500% (-.125) 4.589% $506.69 Interest and Principal
• Cash out refinance***

15 Year Fixed 4.000% (same) 4.154% $739.69 Interest and Principal
• Purchase or rate and term refinance

15 Year Fixed 4.125% (same) 4.280% $745.97 Interest and Principal
• Cash out refinance***

Bond Money 4.750% (same) 5.380% $570.77 Int. & Princ. & Mtg Ins.
• First Time Homebuyer Bond Money + 1% origination fee

FHA Fixed 4.375% (same) 4.968% $553.85 Int. & Princ. & Mtg. Ins.
• Purchase or refinance

Jumbo Fixed 5.750% (same) 5.846% $2,439.32 Interest and Principal
• 30 Year Purchase and Refinance over $417,000

3/1 ARM** 3.875% (same) 4.529% $470.24 Interest and Principal
• Up to $1,000,000 purchase or refinance. Payment would adjust to $510.60 in 3 years (4.375% interest rate) if the rate were to adjust based on the current index rate

5/1 ARM** 4.250% (same) 4.568% $491.94 Interest and Principal
• Up to $1,000,000 purchase or refinance. Payment would adjust to $511.20 in 5 years (4.250% interest rate) if the rate were to adjust based on the current index rate

LEGAL STUFF

• *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 $100,000 loan amount except the 5/1 ARM, 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): 45 day rate lock, $100K-$417K loan amount, credit scores 740+, Owner-occupied Purchase or rate/term refinance. Cash-out refinances (including paying off a non-purchase 2nd mortgage) 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.

ON THIS DATE IN HISTORY:
On this date in 1933 Wiley Post took off from New York in a Lockheed Vegas thus beginning the first around-the-world flight.

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

Go out there and sell something today.

MORTGAGE TIP OF THE DAY:
A condo complex may be FHA approved but if the saturation is more than 50% of FHA loan, FHA will not do the loan. Spot approvals of Condo’s for FHA have disappeared.

THOUGHT OF THE DAY:
You are only young once – then you need a new excuse.

TODAY’S FUN FACT:
Former President Gerald R. Ford was born Leslie King. He has the distinction of being the only non-elected vice president and president in United States history.

Rates: Wednesday, July 14, 2010, 10:30am

Loan Program Rate: APR*: Payment Estimates:

30 Year Fixed 4.500% (same) 4.589% $506.69 Interest and Principal
• Purchase or rate and term refinance

30 Year Fixed 4.625% (same) 4.715% $514.14 Interest and Principal
• Cash out refinance***

15 Year Fixed 4.000% (same) 4.154% $739.69 Interest and Principal
• Purchase or rate and term refinance

15 Year Fixed 4.125% (same) 4.280% $745.97 Interest and Principal
• Cash out refinance***

Bond Money 4.750% (same) 5.380% $570.77 Int. & Princ. & Mtg Ins.
• First Time Homebuyer Bond Money + 1% origination fee

FHA Fixed 4.375% (-.125) 4.968% $553.85 Int. & Princ. & Mtg. Ins.
• Purchase or refinance

Jumbo Fixed 5.750% (same) 5.846% $2,439.32 Interest and Principal
• 30 Year Purchase and Refinance over $417,000

3/1 ARM** 3.875% (same) 4.529% $470.24 Interest and Principal
• Up to $1,000,000 purchase or refinance. Payment would adjust to $510.60 in 3 years (4.375% interest rate) if the rate were to adjust based on the current index rate

5/1 ARM** 4.250% (same) 4.568% $491.94 Interest and Principal
• Up to $1,000,000 purchase or refinance. Payment would adjust to $511.20 in 5 years (4.250% interest rate) if the rate were to adjust based on the current index rate

LEGAL STUFF

• *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 $100,000 loan amount except the 5/1 ARM, 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): 45 day rate lock, $100K-$417K loan amount, credit scores 740+, Owner-occupied Purchase or rate/term refinance. Cash-out refinances (including paying off a non-purchase 2nd mortgage) 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.

ON THIS DATE IN HISTORY:
On this date in 1881 Sheriff Pat Garrett shot and killed Billy the Kid.

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

Go out there and sell something today.

MORTGAGE TIP OF THE DAY:
There is a new act before congress called the Financial Reform Act. It is to be the greatest change to the financial market since the Great Depression. One of the provisions in the Act is mortgage loan officers shall NOT be on commission. They shall be on salary. The Act has not passed yet but the word on the street is that it is coming.

THOUGHT OF THE DAY:
If you want children to keep their feet on the ground, put some responsibility on their shoulders.

TODAY’S FUN FACT:
It takes about a yard of sugar cane to make one sugar cube.

Rates: Tuesday, July 13, 2010, 10:30am

Loan Program Rate: APR*: Payment Estimates:

30 Year Fixed 4.500% (same) 4.589% $506.69 Interest and Principal
• Purchase or rate and term refinance

30 Year Fixed 4.625% (same) 4.715% $514.14 Interest and Principal
• Cash out refinance***

15 Year Fixed 4.000% (same) 4.154% $739.69 Interest and Principal
• Purchase or rate and term refinance

15 Year Fixed 4.125% (same) 4.280% $745.97 Interest and Principal
• Cash out refinance***

Bond Money 4.750% (same) 5.380% $570.77 Int. & Princ. & Mtg Ins.
• First Time Homebuyer Bond Money + 1% origination fee

FHA Fixed 4.500% (same) 5.101% $561.38 Int. & Princ. & Mtg. Ins.
• Purchase or refinance

Jumbo Fixed 5.750% (same) 5.846% $2,439.32 Interest and Principal
• 30 Year Purchase and Refinance over $417,000

3/1 ARM** 3.875% (same) 4.529% $470.24 Interest and Principal
• Up to $1,000,000 purchase or refinance. Payment would adjust to $510.60 in 3 years (4.375% interest rate) if the rate were to adjust based on the current index rate

5/1 ARM** 4.250% (same) 4.568% $491.94 Interest and Principal
• Up to $1,000,000 purchase or refinance. Payment would adjust to $511.20 in 5 years (4.250% interest rate) if the rate were to adjust based on the current index rate

LEGAL STUFF

• *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 $100,000 loan amount except the 5/1 ARM, 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): 45 day rate lock, $100K-$417K loan amount, credit scores 740+, Owner-occupied Purchase or rate/term refinance. Cash-out refinances (including paying off a non-purchase 2nd mortgage) 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.

ON THIS DATE IN HISTORY:
On this date in 1960 the Democratic Party nominated John F. Kennedy for president.

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

Go out there and sell something today.

MORTGAGE TIP OF THE DAY:
The Arlington Bank’s back room operation runs extremely smooth for several reasons. One important reason is that the entire operation is under on physical roof: loan officers, processors, underwriters, funders and all management.

THOUGHT OF THE DAY:
The person who is sure nothing can be done is usually someone who has never done anything.

TODAY’S FUN FACT:
Dogs are more likely to have a nervous breakdown than any other non-human animal.

Rates: Monday, July 12, 2010, 10:45am

Loan Program Rate: APR*: Payment Estimates:

30 Year Fixed 4.500% (same) 4.589% $506.69 Interest and Principal
• Purchase or rate and term refinance

30 Year Fixed 4.625% (same) 4.715% $514.14 Interest and Principal
• Cash out refinance***

15 Year Fixed 4.000% (same) 4.154% $739.69 Interest and Principal
• Purchase or rate and term refinance

15 Year Fixed 4.125% (same) 4.280% $745.97 Interest and Principal
• Cash out refinance***

Bond Money 4.750% (same) 5.380% $570.77 Int. & Princ. & Mtg Ins.
• First Time Homebuyer Bond Money + 1% origination fee

FHA Fixed 4.500% (same) 5.101% $561.38 Int. & Princ. & Mtg. Ins.
• Purchase or refinance

Jumbo Fixed 5.750% (same) 5.846% $2,439.32 Interest and Principal
• 30 Year Purchase and Refinance over $417,000

3/1 ARM** 3.875% (same) 4.529% $470.24 Interest and Principal
• Up to $1,000,000 purchase or refinance. Payment would adjust to $510.60 in 3 years (4.375% interest rate) if the rate were to adjust based on the current index rate

5/1 ARM** 4.250% (same) 4.568% $491.94 Interest and Principal
• Up to $1,000,000 purchase or refinance. Payment would adjust to $511.20 in 5 years (4.250% interest rate) if the rate were to adjust based on the current index rate

LEGAL STUFF

• *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 $100,000 loan amount except the 5/1 ARM, 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): 45 day rate lock, $100K-$417K loan amount, credit scores 740+, Owner-occupied Purchase or rate/term refinance. Cash-out refinances (including paying off a non-purchase 2nd mortgage) 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.

ON THIS DATE IN HISTORY:
On this date in 1862 the Congressional Medal of Honor was created.

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

Go out there and sell something today.

MORTGAGE TIP OF THE DAY:
I assume this goes without saying but I occasionally get this question asked….we cannot make a loan without some visible source of income. The no income loans are gone……but certainly not forgotten.

THOUGHT OF THE DAY:
To wait for someone else, or to expect someone else to make my life richer, or fuller, or more satisfying, puts me in a constant state of suspension.
Kathleen Tierney Andrus

TODAY’S FUN FACT:
The K in K-Mart stands for Kresge, from Sebastian S. Kresge who founded the store in Detroit in 1897.

Rates: Friday, July 9, 2010, 1:00pm

Loan Program Rate: APR*: Payment Estimates:

30 Year Fixed 4.500% (same) 4.589% $506.69 Interest and Principal
• Purchase or rate and term refinance

30 Year Fixed 4.625% (same) 4.715% $514.14 Interest and Principal
• Cash out refinance***

15 Year Fixed 4.000% (same) 4.154% $739.69 Interest and Principal
• Purchase or rate and term refinance

15 Year Fixed 4.125% (same) 4.280% $745.97 Interest and Principal
• Cash out refinance***

Bond Money 4.750% (same) 5.380% $570.77 Int. & Princ. & Mtg Ins.
• First Time Homebuyer Bond Money + 1% origination fee

FHA Fixed 4.500% (same) 5.101% $561.38 Int. & Princ. & Mtg. Ins.
• Purchase or refinance

Jumbo Fixed 5.750% (same) 5.846% $2,439.32 Interest and Principal
• 30 Year Purchase and Refinance over $417,000

3/1 ARM** 3.875% (same) 4.529% $470.24 Interest and Principal
• Up to $1,000,000 purchase or refinance. Payment would adjust to $510.60 in 3 years (4.375% interest rate) if the rate were to adjust based on the current index rate

5/1 ARM** 4.250% (same) 4.568% $491.94 Interest and Principal
• Up to $1,000,000 purchase or refinance. Payment would adjust to $511.20 in 5 years (4.250% interest rate) if the rate were to adjust based on the current index rate

LEGAL STUFF

• *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 $100,000 loan amount except the 5/1 ARM, 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): 45 day rate lock, $100K-$417K loan amount, credit scores 740+, Owner-occupied Purchase or rate/term refinance. Cash-out refinances (including paying off a non-purchase 2nd mortgage) 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.

ON THIS DATE IN HISTORY:
On this date in 1872 the patent was issued for the doughnut cutter.

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