THINK ABOUT THIS!!!
Shotgun wedding–a case of wife or death.

MORTGAGE TIP OF THE DAY:
Just to clarify yesterday’s Mortgage Tip of the Day concerning FHA approved condos expiring. FHA supposedly informed all condo complexes in the nation that were FHA approved that their approval would run out on December 6, 2010 unless they reapplied. FHA required certain documentation to do this. If the condo complex DID NOT do this, the approval would expire. This re-approval will be done on an annual basis. I hope this makes more sense.

THOUGHT OF THE DAY: (This is the serious part)
It ain’t enough to get the breaks. You gotta know how to use’em.
Huey P. Long

TODAY’S FUN FACT:
Bugs Bunny was first called Happy Rabbit.

Rates: Wednesday, December 8, 2010, 11:55am

Loan Program Rate: APR*: Payment Estimates:

30 Year Fixed 4.875% (+.250) 4.966% $529.21 Interest and Principal
• Purchase or rate and term refinance

30 Year Fixed 5.000% (+.250) 5.092% $536.82 Interest and Principal
• Cash out refinance***

15 Year Fixed 4.250% (+.250) 4.405% $752.28 Interest and Principal
• Purchase or rate and term refinance

15 Year Fixed 4.375% (+.250) 4.531% $758.62 Interest and Principal
• Cash out refinance***

Bond Money 4.250% (same) 5.453% $555.77 Int. & Princ. & Mtg Ins.
• First Time Homebuyer Bond Money + 1% origination fee

FHA Fixed 4.750% (+.375) 5.363% $576.61 Int. & Princ. & Mtg. Ins.
• Purchase or refinance

Jumbo Fixed 5.625% (same) 5.721% $2,406.26 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 1941 the United States formally entered WWII
On this date in 1980 John Lennon was gunned down in New York City.
On this date in 1991 the Soviet Union ceased to exist.

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

NAR worked closely with Congressional leaders on both sides of the aisle to enact this important legislation. Extending the Tax Credit Closing deadline will help provide additional stability to real estate markets across the nation.

Additionally, the United States Senate has passed the National Flood Insurance Program Extension Act of 2010 (H.R. 5569) an extension of the National Flood Insurance Program until September 30, 2010. This will allow transactions to move forward. The bill is retroactive and covers the lapse period from June 1, 2010 to the date of enactment of the extension.

For additional information on the extension and the flood insurance program visit www.realtor.org/government_affairs

Information courtesy of NAR Government Affairs

I hope you all are remembering this. These are historic times we will be talking about for years to come.

Today’s Rates: 5.375% 30 year fixed (same)
5.125%% 15 year fixed (same)
5.875% + 1% Origination fee, First Time Homebuyer Bond Money (same)
5.500% FHA (same)
6.000% 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:
As you recall, the buyer can pay points to get a lower interest rate. Usually every .125% in rate is equal to .500% in points. Right now the spread is very narrow and the customer gets much more “bang for the buck”. Since rates are very low, it could be to the borrowers advantage to buy points.

Thought of the Day:
Hospitality means treat your company like family and your family like company.

Today’s Fun Fact:
A hummingbird lays only two eggs during its lifetime.

You know you’re from Columbus when… ….you have been to Cedar Point every summer of your entire life, even if you moved away from Ohio.

Legal Stuff
These rates are effective as of Fri., Feb. 06, 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 5.330% $552.20 Interest and Principal
15 Year Fixed APR 5.135% $790.79 Interest and Principal
Bond Money APR 6.536% $640.71 Interest, Principal, and Mortgage insurance
FHA APR 6.437% $623.56 Interest, Principal, Mortgage insurance
VA APR 6.293% $613.94 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

Today’s Rates: 5.375% 30 year fixed (up .125%)
5.125%% 15 year fixed (up .125%)
4.625% 7/1 ARM (new)
5.875% + 1% Origination fee, First Time Homebuyer Bond Money (same)
5.500% FHA (same)
6.000% 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:
We are offering beginning today a 7/1 ARM priced substantially below the 30 year fixed rate. This is good for folks who don’t think they will be in their homes more than 7 years. Keep this in mind when talking to buyers and their needs.

Thought of the Day:
Patience is the toughest road to stay on, but the surest path to victory.

Today’s Fun Fact:
A mosquito’s favorite aroma is aftershave.

You know you’re from Columbus when… …you remember Big Bear but now it’s gone.

Legal Stuff
These rates are effective as of Wed., Feb. 04, 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 5.330% $552.20 Interest and Principal
15 Year Fixed APR 5.135% $790.79 Interest and Principal
7/1 ARM APR 3.987% $514.00 Interest and Principal
Bond Money APR 6.536% $640.71 Interest, Principal, and Mortgage insurance
FHA APR 6.437% $623.56 Interest, Principal, Mortgage insurance
VA APR 6.293% $613.94 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

I heard an interesting analysis on one of those money talk radio programs. The market dropped approximately 38% last year. If you lost less than 38% on your investments, you did better than the average. How do yours look?

Today’s Rates: 5.250% 30 year fixed (same)
5.000% 15 year fixed (same)
5.875% + 1% Origination fee, First Time Homebuyer Bond Money (down 1.125%)
5.500% FHA (same)
6.000% VA (up .50%)
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:
Power of Attorneys can be used for closings (Specific Power of Attorneys, that is) but they can only be used for individuals not attending. They cannot be used for people presenting Corporations, LLC’s, Partnerships, etc. This is for PEOPLE only.

Thought of the Day:
Reality leaves a lot to the imagination.

Today’s Fun Fact:
Andrew Jackson’s pet parrot was in attendance at the former president’s burial service but had to be removed for screeching profanities.

You know you’re from Columbus when… …you know the standard protocol for a tornado warning is to grab lawn chairs and head for the front porch.

Legal Stuff
These rates are effective as of Mon., Feb. 02, 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 5.135% $790.79 Interest and Principal
Bond Money APR 6.536% $640.71 Interest, Principal, and Mortgage insurance
FHA APR 6.437% $623.56 Interest, Principal, Mortgage insurance
VA APR 6.293% $613.94 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