Rates drifted down this morning. According to the experts, money is flowing from the stock market to a safer place in Government Securities.

Thanks!!! Steve

MORTGAGE TIP OF THE DAY:
In using gift funds for a down payment, we must do 4 steps to make it work: 1, get a gift letter from the donor; 2, get a copy of the gift check; 3, copy of the gift check; 4, prove the donor has the funds in the bank. The Feds really want to verify that it is truly a gift.

THOUGHT OF THE DAY:
Success: keeping your head up and your overhead down.

TODAY’S FUN FACT:
In February 1865 is the only month in recorded history not to have a full moon.

Rates: Tuesday, 03/09/2010, 10:30am

Loan Program Rate: APR*: Payment Estimates:

3/1 ARM** 3.875% (same) 4.423% $470.24 Interest and Principal
• Up to $1,000,000 purchase or refinance. Payment would adjust to $496.95 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) 4.410% $491.94 Interest and Principal
• Up to $1,000,000 purchase or refinance. Payment would adjust to $491.94 in 5 years (4.250% interest rate) if the rate were to adjust based on the current index rate
7/1 ARM** 4.500% (same) 3.875% $506.69 Interest and Principal
• Up to $417,000 purchase or refinance. Payment would adjust to $435.69 in 7 years (3.000% interest rate) if the rate were to adjust based on the current index rate.

30 Year Fixed 4.875% (-.125) 4.966% $529.21 Interest and Principal
• Purchase or rate and term refinance

30 Year Fixed 5.000% (-.125) 5.092% $536.82 Interest and Principal
• Cash out refinance***

15 Year Fixed 4.375% (same) 4.531% $758.62 Interest and Principal
• Purchase or rate and term refinance

15 Year Fixed 4.500% (same) 4.656% $764.99 Interest and Principal
• Cash out refinance***

Bond Money 5.000% (same) 5.636% $585.99 Int. & Princ. & Mtg Ins.
• First Time Homebuyer Bond Money + 1% origination fee

FHA Fixed 4.750% (-.125) 5.363% $576.61 Int. & Princ. & Mtg. Ins.
• Purchase or refinance

Jumbo Fixed 6.250% (same) 6.349% $2,6573.71 Interest and Principal
• 30 Year Purchase and Refinance over $417,000

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 1822 the first U.S. patent for artificial teeth was issued to Charles Graham of New York City.

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

The market is going slightly against us this morning but again, not enough to make the rates go up.

Thanks!!! Steve

MORTGAGE TIP OF THE DAY:
If a buyer cannot sell their old house and decide to rent it out to cover their old house payment, we cannot use the income from the new rental to offset that payment if they are not an experienced landlord. This rule is true for FHA and conventional. The only exception is if the old house has more than 25% equity. The problem is proving that. We would need to have the old house appraised to see if that situation exists. This gets expensive.

THOUGHT OF THE DAY:
The wisest mind has something yet to learn.

TODAY’S FUN FACT:
A cockroach will live nine days without its head, before it starves to death.

Rates: Monday, 03/08/2010, 10:45am

Loan Program Rate: APR*: Payment Estimates:

3/1 ARM** 3.875% (same) 4.423% $470.24 Interest and Principal
• Up to $1,000,000 purchase or refinance. Payment would adjust to $496.95 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) 4.410% $491.94 Interest and Principal
• Up to $1,000,000 purchase or refinance. Payment would adjust to $491.94 in 5 years (4.250% interest rate) if the rate were to adjust based on the current index rate
7/1 ARM** 4.500% (same) 3.875% $506.69 Interest and Principal
• Up to $417,000 purchase or refinance. Payment would adjust to $435.69 in 7 years (3.000% interest rate) if the rate were to adjust based on the current index rate.

30 Year Fixed 5.000% (same) 5.092% $536.82 Interest and Principal
• Purchase or rate and term refinance

30 Year Fixed 5.125% (same) 5.218% $544.49 Interest and Principal
• Cash out refinance***

15 Year Fixed 4.375% (same) 4.531% $758.62 Interest and Principal
• Purchase or rate and term refinance

15 Year Fixed 4.500% (same) 4.656% $764.99 Interest and Principal
• Cash out refinance***

Bond Money 5.000% (same) 5.636% $585.99 Int. & Princ. & Mtg Ins.
• First Time Homebuyer Bond Money + 1% origination fee

FHA Fixed 4.875% (same) 5.495% $584.30 Int. & Princ. & Mtg. Ins.
• Purchase or refinance

Jumbo Fixed 6.250% (same) 6.349% $2,6573.71 Interest and Principal
• 30 Year Purchase and Refinance over $417,000

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 1894 bureaucracy caught up to man’s best friend as New York City passed its first dog licensing law.

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

All the markets are way against us this morning but it didn’t affect rates. I don’t get this one. We are scratching our heads.

Thanks!!! Steve

MORTGAGE TIP OF THE DAY:
Has anyone noticed other than me that in Franklin County there are 5 months in the first half of the taxable year with 7 months in the second half of the year? All the other counties in the state have it 6 and 6. This creates havoc when determining the months in escrow at closing depending on the county of the property.

THOUGHT OF THE DAY:
Life is like a dream, sometimes it is good and sometimes it is bad, but in the end it is over.

TODAY’S FUN FACT:
The microwave was invented after a researcher walked by a radar tube and a chocolate bar melted in his pocket.

Rates: Friday, 03/05/2010, 11:45am

Loan Program Rate: APR*: Payment Estimates:

3/1 ARM** 3.875% (same) 4.423% $470.24 Interest and Principal
• Up to $1,000,000 purchase or refinance. Payment would adjust to $496.95 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) 4.410% $491.94 Interest and Principal
• Up to $1,000,000 purchase or refinance. Payment would adjust to $491.94 in 5 years (4.250% interest rate) if the rate were to adjust based on the current index rate
7/1 ARM** 4.500% (same) 3.875% $506.69 Interest and Principal
• Up to $417,000 purchase or refinance. Payment would adjust to $435.69 in 7 years (3.000% interest rate) if the rate were to adjust based on the current index rate.

30 Year Fixed 5.000% (same) 5.092% $536.82 Interest and Principal
• Purchase or rate and term refinance

30 Year Fixed 5.125% (same) 5.218% $544.49 Interest and Principal
• Cash out refinance***

15 Year Fixed 4.375% (same) 4.531% $758.62 Interest and Principal
• Purchase or rate and term refinance

15 Year Fixed 4.500% (same) 4.656% $764.99 Interest and Principal
• Cash out refinance***

Bond Money 5.000% (same) 5.636% $585.99 Int. & Princ. & Mtg Ins.
• First Time Homebuyer Bond Money + 1% origination fee

FHA Fixed 4.875% (same) 5.495% $584.30 Int. & Princ. & Mtg. Ins.
• Purchase or refinance

Jumbo Fixed 6.250% (same) 6.349% $2,6573.71 Interest and Principal
• 30 Year Purchase and Refinance over $417,000

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 1953 Soviet premier Joseph Stalin died in Moscow. This funeral was one of the largest affairs in Russian history.

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

• January sales, new listings and average sales price increased
• Sales up for five straight months; average sales price up for three straight months
• Days on market is down 7.2%

To read the entire press release, including quotes from our own Sue Lusk-Gleich (Columbus Board of REALTORS® President) visit www.ColumbusRealtors.com.

“Five straight months of sales increases and three straight months of sales price increases is very good news for the central Ohio housing market. And with the tax credits available for existing and first-time buyers, we expect positive numbers for the next several months!”
Sue Lusk-Gleich, Columbus Board of REALTORS® President

Again this morning the market is slightly against us but not enough to make rates go up yet.

Thanks!!! Steve

MORTGAGE TIP OF THE DAY:
The first time homebuyer bond money deal is right now is at a higher rate than the FHA program however bond program requires 3.5% down but the buyer can get a grant for 3% of the 3.5%. That means only .5% of the purchase price as a down payment out of the pocket for the borrower. Upfront MIP can be financed and the seller can pay for the buyers closing costs. It is good for those folks who just about have NO money and can’t get a gift from a relative.

THOUGHT OF THE DAY:
The world belongs to the enthusiast who keeps cool.

TODAY’S FUN FACT:
The national anthem of Greece has 158 verses.

Rates: Thursday, 03/04/2010, 10:30am

Loan Program Rate: APR*: Payment Estimates:

3/1 ARM** 3.875% (same) 4.423% $470.24 Interest and Principal
• Up to $1,000,000 purchase or refinance. Payment would adjust to $496.95 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) 4.410% $491.94 Interest and Principal
• Up to $1,000,000 purchase or refinance. Payment would adjust to $491.94 in 5 years (4.250% interest rate) if the rate were to adjust based on the current index rate
7/1 ARM** 4.500% (same) 3.875% $506.69 Interest and Principal
• Up to $417,000 purchase or refinance. Payment would adjust to $435.69 in 7 years (3.000% interest rate) if the rate were to adjust based on the current index rate.

30 Year Fixed 5.000% (same) 5.092% $536.82 Interest and Principal
• Purchase or rate and term refinance

30 Year Fixed 5.125% (same) 5.218% $544.49 Interest and Principal
• Cash out refinance***

15 Year Fixed 4.375% (same) 4.531% $758.62 Interest and Principal
• Purchase or rate and term refinance

15 Year Fixed 4.500% (same) 4.656% $764.99 Interest and Principal
• Cash out refinance***

Bond Money 5.000% (same) 5.636% $585.99 Int. & Princ. & Mtg Ins.
• First Time Homebuyer Bond Money + 1% origination fee

FHA Fixed 4.875% (same) 5.495% $584.30 Int. & Princ. & Mtg. Ins.
• Purchase or refinance

Jumbo Fixed 6.250% (same) 6.349% $2,6573.71 Interest and Principal
• 30 Year Purchase and Refinance over $417,000

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 1952 Ronald Reagan married Nancy Davis.

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

The market improved yesterday afternoon but went against us this morning so we are exactly the same place as yesterday at this time.

Thanks!!! Steve

MORTGAGE TIP OF THE DAY:
Federal home buyers incentive ends soon. They must be in contract by April 30, 2010 and closed by June 30, 2010. This is $8,000 for first time buyers and $6500 for repeat buyers who have lived in their current residence 5 out of the past 8 years.

THOUGHT OF THE DAY:
Nothing shows a man’s character more than what he laughs at.

TODAY’S FUN FACT:
You can’t kill yourself by holding your breath.

Rates: Wednesday, 03/03/2010, 10:45am

Loan Program Rate: APR*: Payment Estimates:

3/1 ARM** 3.875% (same) 4.423% $470.24 Interest and Principal
• Up to $1,000,000 purchase or refinance. Payment would adjust to $496.95 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) 4.410% $491.94 Interest and Principal
• Up to $1,000,000 purchase or refinance. Payment would adjust to $491.94 in 5 years (4.250% interest rate) if the rate were to adjust based on the current index rate
7/1 ARM** 4.500% (same) 3.875% $506.69 Interest and Principal
• Up to $417,000 purchase or refinance. Payment would adjust to $435.69 in 7 years (3.000% interest rate) if the rate were to adjust based on the current index rate.

30 Year Fixed 5.000% (same) 5.092% $536.82 Interest and Principal
• Purchase or rate and term refinance

30 Year Fixed 5.125% (same) 5.218% $544.49 Interest and Principal
• Cash out refinance***

15 Year Fixed 4.375% (same) 4.531% $758.62 Interest and Principal
• Purchase or rate and term refinance

15 Year Fixed 4.500% (same) 4.656% $764.99 Interest and Principal
• Cash out refinance***

Bond Money 5.000% (same) 5.636% $585.99 Int. & Princ. & Mtg Ins.
• First Time Homebuyer Bond Money + 1% origination fee

FHA Fixed 4.875% (same) 5.495% $584.30 Int. & Princ. & Mtg. Ins.
• Purchase or refinance

Jumbo Fixed 6.250% (same) 6.349% $2,6573.71 Interest and Principal
• 30 Year Purchase and Refinance over $417,000

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 1634 the first tavern in Boston opened its doors and its taps….a guy in a tri-cornered hat named Norm claimed the corner stool.

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

Invest wisely in this University City updated darling! This easy living ranch features efficient upgrades including blown-in insulation, newer insulated windows, updated A/C, furnace and hot water tank plus updated electric panel. Love the new wood grain laminate flooring and the renovated kitchen with bright white appliances. Bonus counter and cabinet space allow for a friendly cook’s haven in this home. The eating area, open to the great room, enjoys the continued flow of the new flooring which is easy to maintain and shows beautifully over time. Big windows bathe the great room in natural light, and notably the home is graced with updated light fixtures throughout as well. A plush Berber carpet in the great room is a welcome area to create a comfortable lounge space and the durable neutral carpet will stand the test of time. Featuring a large first floor utility room with washer and dryer to remain with the home, enjoy superior organization with bonus shelves and storage closets. Both bedrooms also showcase generous closet space with built-in organizers. Completely renovated in 2008, new owners will not have any homework in this like-new bathroom! A picturesque brick patio is a welcome entertainment zone in this amiable neighborhood near The Ohio State University and Riverside Hospital. This 1 story home with Carport and Shed in University City is a perfect start for home buyers looking for an affordable and move-in ready home. She is a well-built classic boasting central location, great access to amenities, transportation plus efficient and smart updates. Welcome home to 715 Harley Dr. and just unpack!

The market is against us slightly this morning but not enough to make rates go up to the next .125%.

Thanks!!! Steve

MORTGAGE TIP OF THE DAY:
I am delighted to say, it has been many, many years since I have NOT made the closing date established in the contract. That is a huge deal here at the Arlington Bank. We won’t take the deal in if we can see we can’t close it on time.

THOUGHT OF THE DAY:
Sports do not build character. They reveal it.

TODAY’S FUN FACT:
Did you know you share your birthday with 9,000,000 other people in the world?

Rates: Tuesday, 03/02/2010, 10:45am

Loan Program Rate: APR*: Payment Estimates:

3/1 ARM** 3.875% (same) 4.423% $470.24 Interest and Principal
• Up to $1,000,000 purchase or refinance. Payment would adjust to $496.95 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) 4.410% $491.94 Interest and Principal
• Up to $1,000,000 purchase or refinance. Payment would adjust to $491.94 in 5 years (4.250% interest rate) if the rate were to adjust based on the current index rate
7/1 ARM** 4.500% (same) 3.875% $506.69 Interest and Principal
• Up to $417,000 purchase or refinance. Payment would adjust to $435.69 in 7 years (3.000% interest rate) if the rate were to adjust based on the current index rate.

30 Year Fixed 5.000% (same) 5.092% $536.82 Interest and Principal
• Purchase or rate and term refinance

30 Year Fixed 5.125% (same) 5.218% $544.49 Interest and Principal
• Cash out refinance***

15 Year Fixed 4.375% (same) 4.531% $758.62 Interest and Principal
• Purchase or rate and term refinance

15 Year Fixed 4.500% (same) 4.656% $764.99 Interest and Principal
• Cash out refinance***

Bond Money 5.000% (same) 5.636% $585.99 Int. & Princ. & Mtg Ins.
• First Time Homebuyer Bond Money + 1% origination fee

FHA Fixed 4.875% (same) 5.495% $584.30 Int. & Princ. & Mtg. Ins.
• Purchase or refinance

Jumbo Fixed 6.250% (same) 6.349% $2,6573.71 Interest and Principal
• 30 Year Purchase and Refinance over $417,000

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 1836 Texas declared its independence from 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

The market is slightly against us this morning but not enough to make rates go up.

Thanks!!! Steve

MORTGAGE TIP OF THE DAY:
Federal Law says a lender is not allowed to close a loan faster than 8 days. 7 days must pass, on the 8th day we can close.

THOUGHT OF THE DAY:
Without a rich heart, wealth is an ugly beggar.

TODAY’S FUN FACT:
Rubber bands last longer when refrigerated.

Rates: Monday, 03/01/2010, 10:45am

Loan Program Rate: APR*: Payment Estimates:

3/1 ARM** 3.875% (same) 4.423% $470.24 Interest and Principal
• Up to $1,000,000 purchase or refinance. Payment would adjust to $496.95 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) 4.410% $491.94 Interest and Principal
• Up to $1,000,000 purchase or refinance. Payment would adjust to $491.94 in 5 years (4.250% interest rate) if the rate were to adjust based on the current index rate
7/1 ARM** 4.500% (same) 3.875% $506.69 Interest and Principal
• Up to $417,000 purchase or refinance. Payment would adjust to $435.69 in 7 years (3.000% interest rate) if the rate were to adjust based on the current index rate.

30 Year Fixed 5.000% (same) 5.092% $536.82 Interest and Principal
• Purchase or rate and term refinance

30 Year Fixed 5.125% (same) 5.218% $544.49 Interest and Principal
• Cash out refinance***

15 Year Fixed 4.375% (same) 4.531% $758.62 Interest and Principal
• Purchase or rate and term refinance

15 Year Fixed 4.500% (same) 4.656% $764.99 Interest and Principal
• Cash out refinance***

Bond Money 5.000% (same) 5.636% $585.99 Int. & Princ. & Mtg Ins.
• First Time Homebuyer Bond Money + 1% origination fee

FHA Fixed 4.875% (same) 5.495% $584.30 Int. & Princ. & Mtg. Ins.
• Purchase or refinance

Jumbo Fixed 6.250% (same) 6.349% $2,6573.71 Interest and Principal
• 30 Year Purchase and Refinance over $417,000

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 Yellowstone became our first national park.

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

The market is slightly in our favor this morning but not enough to make rates drift down.

Thanks!!! Steve

MORTGAGE TIP OF THE DAY:
PMI had a ruling where they would not let the borrower go past 41% debt ratio. They have just expanded that to 45%.

THOUGHT OF THE DAY:
You never lose by loving. You always lose by holding back.

TODAY’S FUN FACT:
There are more chickens than people in the world.

Rates: Friday, 02/26/2010, 11:15am

Loan Program Rate: APR*: Payment Estimates:

3/1 ARM** 3.875% (same) 4.423% $470.24 Interest and Principal
• Up to $1,000,000 purchase or refinance. Payment would adjust to $496.95 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) 4.410% $491.94 Interest and Principal
• Up to $1,000,000 purchase or refinance. Payment would adjust to $491.94 in 5 years (4.250% interest rate) if the rate were to adjust based on the current index rate
7/1 ARM** 4.500% (same) 3.875% $506.69 Interest and Principal
• Up to $417,000 purchase or refinance. Payment would adjust to $435.69 in 7 years (3.000% interest rate) if the rate were to adjust based on the current index rate.

30 Year Fixed 5.000% (same) 5.092% $536.82 Interest and Principal
• Purchase or rate and term refinance

30 Year Fixed 5.125% (same) 5.218% $544.49 Interest and Principal
• Cash out refinance***

15 Year Fixed 4.375% (same) 4.531% $758.62 Interest and Principal
• Purchase or rate and term refinance

15 Year Fixed 4.500% (same) 4.656% $764.99 Interest and Principal
• Cash out refinance***

Bond Money 5.000% (same) 5.636% $585.99 Int. & Princ. & Mtg Ins.
• First Time Homebuyer Bond Money + 1% origination fee

FHA Fixed 4.875% (same) 5.495% $584.30 Int. & Princ. & Mtg. Ins.
• Purchase or refinance

Jumbo Fixed 6.250% (same) 6.349% $2,6573.71 Interest and Principal
• 30 Year Purchase and Refinance over $417,000

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 the S.S. Ceylon sailed from Liverpool, England on the very first around-the-world cruise.

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