Friends

Overall, it is going to be a fairly busy week for the financial markets. I think that Thursday will be the single most important day of the week it’s when The Federal Reserve will release its Beige Book. This data details economic conditions throughout the U.S. by region, but as we saw last week, we don’t need significant news from economic reports for the markets to move heavily and mortgage rates to change

Mortgage Tip of the Day: We had some confusion yesterday getting to the target area maps for OHFA. Let’s do it this way. Go to www.ohiohome.org, click on “homeownership”, click on “target area loan”, then click on “target area maps”. This way seems to work.

Thought of the Day: We MUST always look at life with a bright eye instead of a nasty sigh …. ALWAYS . no matter what

Today’s Fun Fact: A mosquito has 47 teeth.

You know you’re From Columbus when… …there is limo parking at your prom.

Fact or Crap?: Macrophobia is the fear of long waits. (This has nothing to do with loans at the Arlington Bank, either)

Legal Stuff

These rates are effective as of Wed., June 10, 2009 at 11:30am. These rates can change without notice.

Rates: 06/10/09 4.990% 7/1 ARM (new) purchase or rate and term refi to $1,000,000

5.240% 30 due in 10 yrs. (new) purchase or rate and term refi to $1,000,000

5.750% 30 year fixed (same) purchase or rate and term refinance

5.875% 30 year fixed (same) cash out refinance***

5.250% 15 year fixed (same) purchase or refinance

5.375% 15 year fixed cash out refinance***

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

5.750% FHA Fixed (up .125)

5.875% VA Fixed (same)

7.500% Jumbo 30 year fixed (same)

***Cash out refinance means pulling out at least $2,000 or more or paying off a non-purchase second mortgage.

30 days, escrow, $110K thru $417K loan amount, owner occupied, single family house, non condo, 740+ credit score (FHA, VA and Bond Money totally different parameters), 0% points, 0% origination fee.

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

We CANNOT lock in an interest rate on a loan with a voicemail or email. The customer MUST talk to the loan officer over the phone or in person before it can be confirmed. The market changes too frequently. We recommend calling during business hours to make sure we have all the markets open and available.

Fixed Rates and 10/1, 7/1 ARM rates @80% LTV, $100,000 loan amount

Bond Money Rates @ 97% LTV, $100,000 loan amount

FHA Rates @ 96.5% LTV, $100,000 loan amount

VA Rates @ 100% LTV, $100,000 loan amount

Jumbo Rates @ 80% LTV, $418,000 loan amount

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

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

7/1 ARM APR 5.129% $537.00 Interest and Principal

30 due in 10 yrs. APR 5.364% $552.00 Interest and Principal

30 Year Fixed APR 5.832% $583.57 Interest and Principal

30 Year Fixed Cash Out APR 5.958% $591.54 Interest and Principal

15 Year Fixed APR 5.386% $803.88 Interest and Principal

15 Year Fixed Cash Out APR 5.512% $810.47 Interest and Principal

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

FHA APR 6.798% $639.62 Interest, Principal, Mortgage insurance

VA APR 6.165% $605.73 Interest and Principal

Jumbo 30 Year APR 7.591% $2,921.82 Interest and Principal

Answer: FACT: Wiccaphobia is the fear of witches and witchcraft; Zelophobia, the fear of jealousy; Syngenesophobia, the fear or relatives.

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

Yesterday afternoon the government released the stress test on the big banks and how they were doing. That news was positive and that made the market move up. Remember, good economic news and inflation makes mortgage rates go up. Crude Oil prices are also going up and that is a sure sign of inflation. We are extremely worried about the long term inflation factor causing crude oil, mortgage rates, prime and many other things going up and out of control.

Mortgage Tip of the Day: Currently, interest and real estate taxes paid on a second home or vacation home is tax deductible. Two homes are maximum, any more after than are not tax deductible.

Thought of the Day: One of the true tests of leadership is the ability to recognize a problem before it becomes an emergency.

Today’s Fun Fact: In sky writing the average letter is nearly two miles high.

You know you’re from Columbus when… …you tell out of state Michigan fans to follow the Outerbelt until it ends (so evil)!

Fact or Crap?: After Seinfield, Michael Richards starred in The Michael Richards Show for three seasons.

Legal Stuff

These rates are effective as of Fri., May 8, 2009 at 11:30am. These rates can change without notice.

Rates: 5/8/09 5.000% 30 year fixed (up .125%) purchase or rate and term refinance

5.125% 30 year fixed (up .125%) cash out refinance***

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

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

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

5.000% FHA (same)

5.250% VA (same)

7.500% Jumbo 30 year fixed (same)

***Cash out refinance means pulling out at least $2,000 or more or paying off a non-purchase second mortgage.

30 days, escrow, $110K thru $417K loan amount, owner occupied, single family house, non condo, 740+ credit score (FHA, VA and Bond Money totally different parameters), 0% points, 0% origination fee.

We CANNOT lock in an interest rate on a loan with a voicemail or email. The customer MUST talk to the loan officer over the phone or in person before it can be confirmed. The market changes too frequently. We recommend calling during business hours to make sure we have all the markets open and available.

Fixed Rates and 10/1, 7/1 ARM rates @80% LTV, $100,000 loan amount

Bond Money Rates @ 97% LTV, $100,000 loan amount

FHA Rates @ 96.5% LTV, $100,000 loan amount

VA Rates @ 100% LTV, $100,000 loan amount

Jumbo Rates @ 80% LTV, $418,000 loan amount

30 Year Fixed APR 5.079% $536.82 Interest and Principal

30 Year Fixed Cash Out APR 5.204% $544.49 Interest and Principal

15 Year Fixed APR 4.885% $777.83 Interest and Principal

15 Year Fixed Cash Out APR 5.010% $784.30 Interest and Principal

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

FHA APR 5.949% $592.05 Interest, Principal, Mortgage insurance

VA APR 5.293% $549.71 Interest and Principal

Jumbo 30 Year APR 7.591% $2,921.82 Interest and Principal

Answer: CRAP: After a few weeks of poor ratings and negative reviews, The Michael Richards Show was canceled.

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

Mortgage Tip of the Day: Remember, this year, Fannie and Freddie came out with a pricing adjustment on Condos. If the borrower has less than 25% down, there is a rate bump of .375%

Thought of the Day: Success is not the key to happiness. Happiness is the key to success. If you love what you are doing, you will be successful.

Today’s Fun Fact: Canada has more lakes than the rest of the world put together.

You know you’re From Columbus when. .you can describe the subtle socio-economic differences among Bexley (old money), New Albany (new money), and Upper Arlington (tons of money).

Fact or Crap?: John Lennon and Yoko Ono once staged a month-long “bed-in” to raise awareness for world peace.

Legal Stuff These rates are effective as of Mon. May 4, 2009 at 11:30am. These rates can change without notice.

Today’s Rates: 5.000% 30 year fixed (same) purchase or rate and term refinance
5.125% 30 year fixed (same) cash out refinance***
4.750% 15 year fixed (same) purchase or refinance
4.875% 15 year fixed (same) cash out refinance***
5.500% + 1% Origination fee, First Time Homebuyer Bond Money (same)
5.000% FHA (same)
5.250% VA (same)
7.500% Jumbo 30 year fixed (same)

***Cash out refinance means pulling out at least $2,000 or more or paying off a non-purchase second mortgage.
30 days, escrow, $110K thru $417K loan amount, owner occupied, single family house, non condo, 740+ credit score (FHA, VA and Bond Money totally different parameters), 0% points, 0% origination fee.

We CANNOT lock in an interest rate on a loan with a voicemail or email. The customer MUST talk to the loan officer over the phone or in person before it can be confirmed. The market changes too frequently. We recommend calling during business hours to make sure we have all the markets open and available.

Fixed Rates and 10/1, 7/1 ARM rates @80% LTV, $100,000 loan amount
Bond Money Rates @ 97% LTV, $100,000 loan amount
FHA Rates @ 96.5% LTV, $100,000 loan amount
VA Rates @ 100% LTV, $100,000 loan amount
Jumbo Rates @ 80% LTV, $418,000 loan amount
30 Year Fixed APR 5.079% $536.82 Interest and Principal 30 Year Fixed Cash Out APR 5.204% $544.49 Interest and Principal
15 Year Fixed APR 4.885% $777.83 Interest and Principal 15 Year Fixed Cash Out APR 5.010% $784.30 Interest and Principal
Bond Money APR 6.150% $616.94 Interest, Principal, and Mortgage insurance
FHA APR 5.949% $592.05 Interest, Principal, Mortgage insurance
VA APR 5.293% $549.71 Interest and Principal
Jumbo 30 Year APR 7.591% $2,921.82 Interest and Principal

Answer: CRAP: They held two “bed-ins”; one in Amsterdam and one in Montreal, but only for a week each. Thanks for reading!!!!

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 in our favor this morning but not enough to trip rates down another .125% (1/8). We are waiting for the big money to come rolling in from the big investors to market the stock go up and the mortgage rates go down. We are trying to be patient about it.

Today’s Rates: 5.125% 30 year fixed (same) purchase or rate and term refinance
5.250% 30 year fixed (same) cash out refinance***
4.750% 15 year fixed (same) purchase or refinance
4.875%% 15 year fixed (same) cash out refinance***
5.625% + 1% Origination fee, First Time Homebuyer Bond Money (same)
5.500% FHA (same)
5.500% VA (same)
7.500% Jumbo 30 year fixed (same)
***Cash out refinance means pulling out at least $2,000 or more or paying off a non-purchase second mortgage.

30 days, escrow, $110K thru $417K loan amount, owner occupied, 740+ credit score (FHA, VA and Bond Money totally different parameters), 0% points, 0% origination fee.

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.

Mortgage Tip of the Day:
We are allowed to use part time income on a loan however we must have it in place for at least two years. We want to make sure it really exits and will continue.

Thought of the Day:
When you’ve got something to prove, there’s nothing greater than a challenge.

Today’s Fun Fact:
Cabbage is 91% water.

Fact or Crap?:
Gene Simmons of Kiss helped create a cartoon called My Dad the Rockstar. (see answer below)

Legal Stuff
These rates are effective as of Wed., March 18, 2009 at 11:30am. These rates can change without notice.
This is an Advertisement.

Fixed Rates and 10/1, 7/1 ARM rates @80% LTV, $100,000 loan amount
Bond Money Rates @ 97% LTV, $100,000 loan amount
FHA Rates @ 96.5% LTV, $100,000 loan amount
VA Rates @ 100% LTV, $100,000 loan amount
Jumbo Rates @ 80% LTV, $418,000 loan amount

30 Year Fixed APR 5.204% $544.49 Interest and Principal
30 Year Fixed Cash Out APR 5.330% $552.20 Interest and Principal
15 Year Fixed APR 4.885% $777.83 Interest and Principal
15 Year Fixed Cash Out APR 5.010% $784.30 Interest and Principal
Bond Money APR 6.279% $624.33 Interest, Principal, and Mortgage insurance
FHA APR 6.437% $623.56 Interest, Principal, Mortgage insurance
VA APR 5.802% $581.42 Interest and Principal
Jumbo 30 Year APR 7.591% $2,921.82 Interest and Principal

Answer: FACT…Gene was actually born is Israel and migrated to New York City at the age of 8 with his mother.

Thanks for reading!!!!

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

Tomorrow is Valentine’s Day and we all know this day is about love and friendship. Pets give us unconditional love. They are there to help us through the sad and happy times. If you are thinking about getting a pet, please consider the local shelters: Cat Welfare, Pets Without Parents, Delaware County Dog Kennel, Capital Area Humane Society or Franklin County Animal Shelters.  I adopted Marley 3 years ago from Pets Without Parents.  She is now 8.  She is the most loving, devoted pet and you can tell she appreciates her safe, warm home. Something she did not have her first 5 years. There are several no kill shelters that will keep the animals indefinitely. If you are not ready for a pet, please consider giving a donation to keep these shelters open. Also, they are always in need of volunteers. My son Joey has volunteered at Pets Without Parents for 4 years. Please let me know of other shelters in the Central Ohio Area.

Have a great weekend!

Edie

“Paying it forward”

Transparency or transparent is the new buzz word, popularized by our new President Obama.  Take a poll  at AOL  or post your comments to a blog at Helium  about the increase use of these words.

In my real estate business I have always thought the transactions were transparent but with all the social networking whirling around the web,  the lives of those actully conducting the business of real estate is more transparent today than ever before. 

Weigh in with us, let us know words that you think will be the buzz in 2009.

On The Markey Tuesday

I hope you all had a great week.

Having purchased 2 homes and sold one before I got my REALTOR®’s license, I realize there may be times when questions may pop up that you would like to ask but do not want to be pressured by an Agent.

I want you to know, that is not how I or my Team operate. If at anytime you have questions…price of a home, selling price of a home in your neighborhood or simple question about a service provider. We are here for you with never an obligation.

Have a great weekend. We are having a heat wave today.

Edie James

“Pay it forward”

Another theory out there is that the mortgage markets could take a bump up during the inauguration period. I can’t quite understand how that would make investors invest or not.

How about that for a good answer?

Today’s Rates: 5.250% 30 year fixed (up .125%)

5.125% 15 year fixed (up .250%)

7.000% + 1% Origination fee, First Time Homebuyer Bond Money (same)

5.500% FHA (up .500%)

5.500% VA (up .500%)

7.500% Jumbo 30 year fixed (same)

30 days, escrow, $110K thru $417K loan amount, owner occupied, 740+ credit score (FHA, VA and Bond Money totally different parameters), 0% points, 0% origination fee.

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.

Mortgage Tip of the Day:
When applying for a mortgage loan or locking in an interest rate, we ask the customer to pay an application fee of $300.00. It really isn’t a fee to apply, we are asking the customer to pay for the appraisal upfront. The appraiser gets paid whether the deals goes through or not. We are just covering ourselves incase things start to go bad for any reason. We credit that application fee back at closing to the customer. If the appraisal is never done for any reason, we give the application fee back to the customer. We are not allowed to make a profit on the appraisal end of the deal.

Thought of the Day:
We have but one life – whether we spend it laughing or weeping.

Today’s Fun Fact:
In colonial Boston, schoolteachers earned about 7 cents a day.

You know you’re from Columbus when… …you know that Wyandotte Lake is not really a body of water and Mad River Mountain is not really a mountain.

Legal Stuff
These rates are effective as of Tues., Jan. 20, 2009 at 11:30am. These rates can change without notice.
This is an Advertisement.

Fixed Rates and 10/1 ARM rates @80% LTV, $100,000 loan amount

Bond Money Rates @ 97% LTV, $100,000 loan amount

FHA Rates @ 96.5% LTV, $100,000 loan amount

VA Rates @ 100% LTV, $100,000 loan amount

Jumbo Rates @ 80% LTV, $418,000 loan amount

30 Year Fixed APR 5.330% $552.20 Interest and Principal

15 Year Fixed APR 5.261% $797.32 Interest and Principal

Bond Money APR 7.694% $714.47 Interest, Principal, and Mortgage insurance

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

VA APR 5.802% $581.42 Interest and Principal

Jumbo 30 Year APR 7.591% $2,921.82 Interest and Principal

Thanks for reading!!!!

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

OK, so I know I said this is 10 reasons you’ll love this house, but I need to say one more thing…. Location, Location, Location! Northridge Rd. is a beautiful street in central Clintonville. Pride of ownership, friendly neighbors and a good sense of community are intrinsic benefits to owning this home. Let us know if you would like to schedule a private tour. (More pictures and a virtual tour are ready to be seen on our official team website.)

The market is drifting our direction slightly this morning. Nothing really indicating why but it is.

Today’s Rates: 5.000% 30 year fixed (same)

4.625% 15 year fixed (down .125%)

7.000% + 1% Origination fee, First Time Homebuyer Bond Money (same)

5.000% FHA (same)

5.000% VA (same)

7.500% Jumbo 30 year fixed (same)

30 days, escrow, $110K thru $417K loan amount, owner occupied, 740+ credit score (FHA, VA and Bond Money totally different parameters), 0% points, 0% origination fee.

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.

Mortgage Tip of the Day:
When a customer is going FHA and does a 15 year fixed loan with at least 10%, FHA does not require any MIP in their payment.

Thought of the Day:
One characteristic of winners is they always look upon themselves as a do-it-yourself project .

Today’s Fun Fact:
George Willig climbed the outside south tower of the World Trade Center in New York City on May 26, 1977. Abraham Beame, then mayor, fined him $1.10—a penny for each floor of the building.

You know you’re from Columbus when… you’ve experienced CRAZY weather, like huge golf ball sized hail in the same day that it’s sunny, or snowy in the same day it rains, or sunny but then a tornado, or freezing fog but then rain then sunny.

Legal Stuff
These rates are effective as of Tues., Jan. 13, 2009 at 11:30am. These rates can change without notice.
This is an Advertisement.

Fixed Rates and 10/1 ARM rates @80% LTV, $100,000 loan amount

Bond Money Rates @ 97% LTV, $100,000 loan amount

FHA Rates @ 96.5% LTV, $100,000 loan amount

VA Rates @ 100% LTV, $100,000 loan amount

Jumbo Rates @ 80% LTV, $418,000 loan amount

30 Year Fixed APR 5.079% $536.82 Interest and Principal

15 Year Fixed APR 4.759% $771.40 Interest and Principal

Bond Money APR 7.694% $714.47 Interest, Principal, and Mortgage insurance

FHA APR 5.949% $592.05 Interest, Principal, Mortgage insurance

VA APR 5.293% $549.71 Interest and Principal

Jumbo 30 Year APR 7.591% $2,921.82 Interest and Principal

Thanks for reading!!!!

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