MORTGAGE TIP OF THE DAY:
I haven’t done this for a while, let’s compare the differences between FHA and Conventional loans. That’s always useful:
1. FHA tends to have a lower rate than conventional. Usually by .125% or more.
2. FHA only requires 3.5% down while conventional requires 5.0% down.
3. FHA loans are assumable where conventional loans are not.
4. Late charge on FHA is 4% of the monthly interest and principal payment, conventional is 5%.
5. MIP and PMI are quite different between the two. FHA has a 1% MIP upfront with a 1.15% in the payment. Conventional has NO upfront PMI with a smaller amount in the payment. That can run from .78% to .32% depending on the down payment.
6. Maximum loan amount for FHA in this county is $341,250 while the maximum loan for Freddie and Fannie is $417,000. Jumbo loans have no maximum. Just over $417,000.
7. FHA allows us to escrow for repairs at closing but conventional will not allow us. The repairs to escrow for FHA cannot be a health or safety hazard.
8. To get the best rate for an FHA loan, the minimum credit score is 680, for conventional, it is 740.
9. FHA offers a 203K where updates can be worked into the loan where conventional does not offer this.
10. FHA will not drop MIP sooner than 5 years. Conventional will let it drop as short as 2 years assuming the loan to value is 78% or better.
11. FHA allows the entire down payment to be a gift, conventional requires at least 5% down to be the borrowers own money.
12. FHA does NOT require the borrower have reserves after the transaction, conventional requires they have money left over depending on what they are buying (rental vs. owner occupied vs. vacation home).
13. MIP/PMI can be dropped no sooner than 2 years for conventional, 5 years for FHA.
14. FHA tends to be little harder on appraisials than conventional. They need no chipping paint, handrails on stairs, etc.

THOUGHT OF THE DAY: (This is the serious part)
“Boy, those French! They have a different word for everything.”
Steve Martin
(1945- )
American actor and comedian

FUN FACT:
Peanuts are one of the ingredients of dynamite.

Friday, February 3, 2012, 11:15am

Loan Program Rate: APR*: Payment Estimates:

30 Year Fixed 3.875% (same) 3.947% $940.48 Interest and Principal
• Purchase or rate and term refinance

30 Year Fixed 4.000% (same) 4.072% $954.85 Interest and Principal
• Cash out refinance***

15 Year Fixed 3.250% (same) 3.498% $1,405.34 Interest and Principal
• Purchase or rate and term refinance

15 Year Fixed 3.375% (same) 3.605% $1417.52 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) 4.723% $1117.78Int. & Princ. & Mtg. Ins.
• Purchase or refinance

Jumbo Fixed 4.750% (same) 4.854% $2,180.49 Interest and Principal
• 30 Year Purchase and Refinance over $418,000

5/1 ARM 3.000% (same) 3.285% $872.72 Interest and Principal

30 Year Purchase and no cash out refinance

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:
Keep a tight rein on your temper.

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

_____________________________________________________________________________________

View this listing

8024 Millway Loop
Powell 43065
Open House 1-3 pm

_____________________________________________________________________________________

View this listing

557 Fallis Rd
Columbus 43214
Open House 2-4 pm

_____________________________________________________________________________________

View this listing

90 Oakland Park Ave
Columbus 43214
Open House 2-4 pm

_____________________________________________________________________________________

View this listing

72 Brighton Rd
Columbus 43202
Open House 2-4 pm

_____________________________________________________________________________________

For starters, the events start at 5:30 p.m. (and run until 10 p.m.). You know the price, and the place; the exact address is 1777 East Broad Street. Reservations are recommended and to make them just call the Conservatory at (614) 645-1800. If you’re wondering ‘well, what do I get for my $11?’; rest assured, you get a lot. Of course, you get admission into the Conservatory. But guess what? You get some of that back right way: every guest receives $10 back in tokens, and the tokens can be used toward the purchase of food and drinks. So you get f-r-e-e parking, and essentially you pay $1 for admission into the Conservatory. That’s not all. You’ll listen to live music while enjoying your munchies and drinks. More, you can view current exhibitions while you’re there, view the Chihuly Collection, and if you’re there at the right time, watch as James Turrell’s Light Raiment II illuminates the John F. Wolfe Palm House. That would be right at dusk.

If you’re into exotic or simply yummy tasting drinks, you’ll be offered a chance to purchase their special cocktails. On February 9th they’ll have Espresso Martinis, and the week after, Spicy Rum. By the way, yes, you have to be 21 years or older to get in these Thursday evening events.

The City of Columbus, The Columbus Foundation and other partners stand proudly behind and for the Conservatory. Here’s your chance to contribute, and to enjoy yourself in the doing!

Photo Credit: Franklin Park Conservatory by Rellim

MORTGAGE TIP OF THE DAY:
I haven’t done this for a while, let’s compare the differences between FHA and Conventional loans. That’s always useful:
1. FHA tends to have a lower rate than conventional. Usually by .125% or more.
2. FHA only requires 3.5% down while conventional requires 5.0% down.
3. FHA loans are assumable where conventional loans are not.
4. Late charge on FHA is 4% of the monthly interest and principal payment, conventional is 5%.
5. MIP and PMI are quite different between the two. FHA has a 1% MIP upfront with a 1.15% in the payment. Conventional has NO upfront PMI with a smaller amount in the payment. That can run from .78% to .32% depending on the down payment.
6. Maximum loan amount for FHA in this county is $341,250 while the maximum loan for Freddie and Fannie is $417,000. Jumbo loans have no maximum. Just over $417,000.
7. FHA allows us to escrow for repairs at closing but conventional will not allow us. The repairs to escrow for FHA cannot be a health or safety hazard.
8. To get the best rate for an FHA loan, the minimum credit score is 680, for conventional, it is 740.
9. FHA offers a 203K where updates can be worked into the loan where conventional does not offer this.
10. FHA will not drop MIP sooner than 5 years. Conventional will let it drop as short as 2 years assuming the loan to value is 78% or better.
11. FHA allows the entire down payment to be a gift, conventional requires at least 5% down to be the borrowers own money.
12. FHA does NOT require the borrower have reserves after the transaction, conventional requires they have money left over depending on what they are buying (rental vs. owner occupied vs. vacation home).
13. MIP/PMI can be dropped no sooner than 2 years for conventional, 5 years for FHA.
14. FHA tends to be little harder on appraisials than conventional. They need no chipping paint, handrails on stairs, etc.

THOUGHT OF THE DAY: (This is the serious part)
“Figures won’t lie, but liars will figure.”
Charles H. Grosvenor
(1833-1917)
American labor leader

FUN FACT:
In the last 4,000 years, no new animals have been domesticated.

Wednesday, February 1, 2012, 11:20am

Loan Program Rate: APR*: Payment Estimates:

30 Year Fixed 3.875% (same) 3.947% $940.48 Interest and Principal
• Purchase or rate and term refinance

30 Year Fixed 4.000% (same) 4.072% $954.85 Interest and Principal
• Cash out refinance***

15 Year Fixed 3.250% (same) 3.498% $1,405.34 Interest and Principal
• Purchase or rate and term refinance

15 Year Fixed 3.375% (same) 3.605% $1417.52 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) 4.723% $1117.78Int. & Princ. & Mtg. Ins.
• Purchase or refinance

Jumbo Fixed 4.750% (same) 4.854% $2,180.49 Interest and Principal
• 30 Year Purchase and Refinance over $418,000

5/1 ARM 3.000% (same) 3.285% $872.72 Interest and Principal

30 Year Purchase and no cash out refinance

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:
When facing a difficult task, act as though it is impossible to fail.

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

Although it’s still a freezy winter month, April and tax time are on the horizon again, and there are great deductions for homeowners. So browse the possibilities, and contact your tax professional to ask if and when these deductions might apply to you. And consider using your tax refund for a cruise to warmer climates!

1. The old standards: Almost everyone knows that the mortgage interest on your home is tax-deductible.
   If you have more than one mortgage, you can still deduct the interest on all of them, as long as they don’t exceed one million dollars in total mortgage amount, and the purpose of the mortgage is to buy, build, or improve your home. (That second mortgage to finance your 10th wedding anniversary bash does NOT count!) Don’t forget, your state and local property taxes can be written off against income, but make sure you claim them in the year they were paid, not owed. Another old standard is the PMI deduction. If you bought your home after 2006, and your income is $109,999 or less, you may qualify.
2. Just purchased a home? These deductions may not be on your radar, as they aren’t the old standard. Did you know that if you just bought your home that you may be able to get a deduction for the points you paid to buy down your rate? If you bought a home, you can deduct the points for the year you refinanced. (Did the seller pay the points? Check with your tax pro, you may still qualify to deduct them!) And if you moved more than 50 miles when you bought your new home, some of your moving expenses may also be deducted.
3. Refinanced? You’ve got possibilities, too! You can’t deduct your points all at once, as it’s written off over the course of the loan, but you can deduct 1/20th of the points you paid on a 20 year loan each year over the life of the loan. Every little bit helps, and this one keeps helping for years.
4. Did you sell your home this year? Every two years, single homeowners can have a tax-exempt profit of up to $250,000, as long as they lived in the home as a primary residence during two of the last five years. Married homeowners aren’t left out, they can have up to $500,000 of tax-exempt profit on the sale of their primary residence.
5. Did you make improvements to your home this year? Keep your receipts, invoices, and records. Although the expenses can’t be deducted directly, they can help you prove your home’s worth and value when it comes time to sell…that can help you both with the selling price, and proving what was profit and what was value when it comes time to pay capital gains taxes after the sale of your home someday.
6. Did you make any improvements for a family member with a chronic illness or disability? As long as the improvements are to accommodate a medical need and don’t add to the value of your home, you can deduct them. Ramps, bathroom fixtures, changes in counter heights, and air filters are all deductible, but consult your favorite tax pro about items like pools, additions, and air conditioning.
7. Speaking of pools and air conditioning, do you have a vacation home? Your state and local property taxes, points, and mortgage interest may also be deductible for your second home.
8. And since we balance work and home, do you work AT home? An office in your home that is used strictly for business can be beneficial to your tax bottom-line. (The family room that doubles as an office does NOT qualify for deductions!) For a dedicated office though, any costs for maintaining the office, such as paint, carpet, and a proportion of your utilities, can be deductible.

Here’s wishing you all smooth sailing through this tax season!

A big thank you for the “tax facts” to:

Chuck Lehman, CPA
Lehman Bookkeeping Solutions, Inc
PO Box 328
Milford Center, OH 43045
937-935-3231
lehmanbookkeeping@embarqmail.com
www.lehmanbookkeeping.com

MORTGAGE TIP OF THE DAY:
I haven’t done this for a while, let’s compare the differences between FHA and Conventional loans. That’s always useful:
1. FHA tends to have a lower rate than conventional. Usually by .125% or more.
2. FHA only requires 3.5% down while conventional requires 5.0% down.
3. FHA loans are assumable where conventional loans are not.
4. Late charge on FHA is 4% of the monthly interest and principal payment, conventional is 5%.
5. MIP and PMI are quite different between the two. FHA has a 1% MIP upfront with a 1.15% in the payment. Conventional has NO upfront PMI with a smaller amount in the payment. That can run from .78% to .32% depending on the down payment.
6. Maximum loan amount for FHA in this county is $341,250 while the maximum loan for Freddie and Fannie is $417,000. Jumbo loans have no maximum. Just over $417,000.
7. FHA allows us to escrow for repairs at closing but conventional will not allow us. The repairs to escrow for FHA cannot be a health or safety hazard.
8. To get the best rate for an FHA loan, the minimum credit score is 680, for conventional, it is 740.
9. FHA offers a 203K where updates can be worked into the loan where conventional does not offer this.
10. FHA will not drop MIP sooner than 5 years. Conventional will let it drop as short as 2 years assuming the loan to value is 78% or better.
11. FHA allows the entire down payment to be a gift, conventional requires at least 5% down to be the borrowers own money.
12. FHA does NOT require the borrower have reserves after the transaction, conventional requires they have money left over depending on what they are buying (rental vs. owner occupied vs. vacation home).
13. MIP/PMI can be dropped no sooner than 2 years for conventional, 5 years for FHA.

THOUGHT OF THE DAY: (This is the serious part)
“A thing is worth whatever the buyer will pay for it.”
Publilius Syrus
(1st century B.C.)
Latin writer of mimes

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

Tuesday, January 31, 2012, 10:55am

Loan Program Rate: APR*: Payment Estimates:

30 Year Fixed 3.875% (same) 3.947% $940.48 Interest and Principal
• Purchase or rate and term refinance

30 Year Fixed 4.000% (same) 4.072% $954.85 Interest and Principal
• Cash out refinance***

15 Year Fixed 3.250% (same) 3.498% $1,405.34 Interest and Principal
• Purchase or rate and term refinance

15 Year Fixed 3.375% (same) 3.605% $1417.52 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) 4.723% $1117.78Int. & Princ. & Mtg. Ins.
• Purchase or refinance

Jumbo Fixed 4.750% (same) 4.854% $2,180.49 Interest and Principal
• 30 Year Purchase and Refinance over $418,000

5/1 ARM 3.000% (same) 3.285% $872.72 Interest and Principal

30 Year Purchase and no cash out refinance

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:
Promise big. Deliver big.

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

MORTGAGE TIP OF THE DAY:
I haven’t done this for a while, let’s compare the differences between FHA and Conventional loans. That’s always useful:
1. FHA tends to have a lower rate than conventional. Usually by .125% or more.
2. FHA only requires 3.5% down while conventional requires 5.0% down.
3. FHA loans are assumable where conventional loans are not.
4. Late charge on FHA is 4% of the monthly interest and principal payment, conventional is 5%.
5. MIP and PMI are quite different between the two. FHA has a 1% MIP upfront with a 1.15% in the payment. Conventional has NO upfront PMI with a smaller amount in the payment. That can run from .78% to .32% depending on the down payment.
6. Maximum loan amount for FHA in this county is $341,250 while the maximum loan for Freddie and Fannie is $417,000. Jumbo loans have no maximum. Just over $417,000.
7. FHA allows us to escrow for repairs at closing but conventional will not allow us. The repairs to escrow for FHA cannot be a health or safety hazard.
8. To get the best rate for an FHA loan, the minimum credit score is 680, for conventional, it is 740.
9. FHA offers a 203K where updates can be worked into the loan where conventional does not offer this.
10. FHA will not drop MIP sooner than 5 years. Conventional will let it drop as short as 2 years assuming the loan to value is 78% or better.
11. FHA allows the entire down payment to be a gift, conventional requires at least 5% down to be the borrowers own money.
12. FHA does NOT require the borrower have reserves after the transaction, conventional requires they have money left over depending on what they are buying (rental vs. owner occupied vs. vacation home).
13. MIP/PMI can be dropped no sooner than 2 years for conventional, 5 years for FHA.

THOUGHT OF THE DAY: (This is the serious part)
“Blesed are the young, for they shall inherit the national debt.”
Herbert Hoover
(1874-1964)
31st President of the United States

FUN FACT:
Babies are born without knee caps. They don’t appear until the child reaches 2 to 6 years of age.

Monday, January 30, 2012, 11:20am

Loan Program Rate: APR*: Payment Estimates:

30 Year Fixed 3.875% (same) 3.947% $940.48 Interest and Principal
• Purchase or rate and term refinance

30 Year Fixed 4.000% (same) 4.072% $954.85 Interest and Principal
• Cash out refinance***

15 Year Fixed 3.250% (same) 3.498% $1,405.34 Interest and Principal
• Purchase or rate and term refinance

15 Year Fixed 3.375% (same) 3.605% $1417.52 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) 4.723% $1117.78Int. & Princ. & Mtg. Ins.
• Purchase or refinance

Jumbo Fixed 4.750% (same) 4.854% $2,180.49 Interest and Principal
• 30 Year Purchase and Refinance over $418,000

5/1 ARM 3.000% (same) 3.285% $872.72 Interest and Principal

30 Year Purchase and no cash out refinance

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:
Leave the toilet seat in the down position.

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

Never noticed a second message box on your page? Most of us don’t. Think you don’t have one? Everyone does. Click on your message box, and your OTHER message box will magically appear right underneath. Again, it happens quietly, and without notice.

The next question many of us have, after peeking into our OTHER box, is how we can rescue the messages we DO want to see. We’re happy to have Facebook protect us from some of what’s in there, but other messages and senders are more important than the math might suggest.

Blogger Erika Napoletano has a solution and step-by-step instructions for how to rescue your messages from particular senders, and keep them safe from OTHER! Click through to get to her blog post and simple instructions. You’ll be glad someone figured it out, even if you are one of the few Facebook users that realized the OTHER box was there!

MORTGAGE TIP OF THE DAY:
I haven’t done this for a while, let’s compare the differences between FHA and Conventional loans. That’s always useful:
1. FHA tends to have a lower rate than conventional. Usually by .125% or more.
2. FHA only requires 3.5% down while conventional requires 5.0% down.
3. FHA loans are assumable where conventional loans are not.
4. Late charge on FHA is 4% of the monthly interest and principal payment, conventional is 5%.
5. MIP and PMI are quite different between the two. FHA has a 1% MIP upfront with a 1.15% in the payment. Conventional has NO upfront PMI with a smaller amount in the payment. That can run from .78% to .32% depending on the down payment.
6. Maximum loan amount for FHA in this county is $341,250 while the maximum loan for Freddie and Fannie is $417,000. Jumbo loans have no maximum. Just over $417,000.
7. FHA allows us to escrow for repairs at closing but conventional will not allow us. The repairs to escrow for FHA cannot be a health or safety hazard.
8. To get the best rate for an FHA loan, the minimum credit score is 680, for conventional, it is 740.
9. FHA offers a 203K where updates can be worked into the loan where conventional does not offer this.
10. FHA will not drop MIP sooner than 5 years. Conventional will let it drop as short as 2 years assuming the loan to value is 78% or better.
11. FHA allows the entire down payment to be a gift, conventional requires at least 5% down to be the borrowers own money.
12. FHA does NOT require the borrower have reserves after the transaction, conventional requires they have money left over depending on what they are buying (rental vs. owner occupied vs. vacation home).

THOUGHT OF THE DAY: (This is the serious part)
“Every crowd has a silver lining.”
Phineas Taylor (PT) Barnum
(1810-1891)
American circus owner and showman

FUN FACT:
An ostrich’s eye is bigger than its brain.

Friday, January 27, 2012, 11:15am

Loan Program Rate: APR*: Payment Estimates:

30 Year Fixed 3.875% (same) 3.947% $940.48 Interest and Principal
• Purchase or rate and term refinance

30 Year Fixed 4.000% (same) 4.072% $954.85 Interest and Principal
• Cash out refinance***

15 Year Fixed 3.250% (-.125%) 3.498% $1,405.34 Interest and Principal
• Purchase or rate and term refinance

15 Year Fixed 3.375% (-.125%) 3.605% $1417.52 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) 4.723% $1117.78Int. & Princ. & Mtg. Ins.
• Purchase or refinance

Jumbo Fixed 4.750% (same) 4.854% $2,180.49 Interest and Principal
• 30 Year Purchase and Refinance over $418,000

5/1 ARM 3.000% (same) 3.285% $872.72 Interest and Principal

30 Year Purchase and no cash out refinance

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:
Hear both sides before judging.

Rates and APRs Established By:

STEVE WAGNER Marketing Assistant
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

All Month – for All – COSI presents a new exhibit, “Race: Are We Really So Different?” for more information, contact the COSI Call Center at 614.228.2674

All Month – for Adults and Teens – The Wexner Center presents “David Smith: Cubes and Anarchy” and for hours and more info, see the Wexner Center web site.

All Month (2:30-6pm) – for kids 7-15 – The King Arts Complex presents the Afterschool Arts Institute (AAI) 
September 6, 2011 – May 11, 2012 for a $10 registration fee and $35 per week Monday-Friday Students participate in 8 week, arts focused sessions featuring all different visual and performing arts taught by amazing local artists in the city. Past instructors include: Jazz Arts Group, Columbus Children’s Theatre, and Thoissane West African Dance. For more information, see their web site.

Fridays – for All – February by the Fire means snuggling up to our cozy fireplace and listening to good music. Snuggle with your honey or your kids and enjoy! 3- Dave Powers, 10- Teen String Quartet, 17- Ukulele Cowboy Society, and 24- Mark Flugge at the Old Worthington Library, 820 High Street Worthington OH 43085 at 614-807-2626

February 1-19 – for Adults – CATCO presents “The Rubenstein Kiss” A theatrical production about the infamous Rubensteins in the 1950′s. Contact CATCO for times at 469-0939

February 2 (7pm) – for Adults – Food for Thought: Just Desserts Learn about decadent desserts, and taste some. Plan for your Valentine’s Day treats in advance! Free – reservation required, so call the Old Worthington Library, 820 High Street Worthington OH 43085 at 614-807-2626

February 4 (4-10pm) – for Adults – Short North Gallery Hop: Resolved to broaden your horizons, do something different, or just finally do the gallery hop you’ve read about? Come see what the buzz is all about. The first Saturday of every month, galleries and other businesses stay open late, and welcome those who celebrate art, take in the sights, and enjoy food, shopping, and a great neighborhood. The calendar of events for the Short North is available at their web site.

February 5 – for Kids – From Pulp to Paper: A class where kids learn how to make paper from beginning to finished product! At the McConnell Arts Center. For reservations and more info, see the MAC website.

February 7-12 for All – The Palace Theater host the Blue Man Group, for times and tickets see capa.com.

February 8 – for Teens and Tweens – Most of the library branches are hosting something fun for you today! Plus, many branches have gaming or other activities weekly for kids this age. Contact your library branch or look here for more info.

February 14 – See our Valentine’s Day events post for all the possibilities around town! Book early!

February 16 – for Adults and Teens – the Lincoln Theater presents “Bill Blagg’s the Science of Magic, a behind-the-scenes educational experience on how magic is done! For time and tickets, contact capa.com.

February 20 and 23 (7pm) – Women 12 & up – Self Defense 101. This course is free, but reservations are required, so call about the Feb 20th class at the Old Worthington Library, 820 High Street, Worthington 43085 at 614-807-2626 or for the Feb 23rd class, call the Northwest Library, 2280 Hard Road, Columbus 43235 at 614-807-2626 for reservations.