Go out there and sell something today.

MORTGAGE TIP OF THE DAY:
Remember, Fannie Mae and Freddie Mac came out with some pretty tough rules about a year and a half ago on making loans on condos. We will go over the next few days what they rules are.

1. There cannot be more than 49% of the condos in the complex as rentals. If there are more than that, the complex is NOT eligible.
2. The complex needs to be turned over to the owners association and all the common areas need to be complete to make the complex eligible.
3. If the complex has more than 20% of its space is commercial, it is a non-conforming complex.
4. Are more than 15% of the owners in the complex more than 30 days behind in their condo dues? If so, it is non-conforming.
5. Does one entity own more than 10% of the units (including the developer)
6. Is the complex a CondoTel (Hotel that is a condo complex), Coop or TimeShare? If so, it is not a conforming complex.

THOUGHT OF THE DAY:
“The human race is faced with a cruel choice: work or daytime television.”
Anonymous

TODAY’S FUN FACT:
The Union Army lost more men to disease than battle during the Civil War.

Rates: Monday, August 8, 2010, 11:15 am

Loan Program Rate: APR*: Payment Estimates:

30 Year Fixed 4.250% (same) 4.338% $491.94 Interest and Principal
• Purchase or rate and term refinance

30 Year Fixed 4.375% (same) 4.464% $499.59 Interest and Principal
• Cash out refinance***

15 Year Fixed 3.750% (same) 3.903% $727.22 Interest and Principal
• Purchase or rate and term refinance

15 Year Fixed 3.875% (same) 4.029% $733.44 Interest and Principal
• Cash out refinance***

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

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

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

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

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

LEGAL STUFF

• *APR – Annual Percentage Rate
• **ARM – Adjustable Rate Mortgage (rate may increase after consummation of the loan)
• ***Cash out refinance – Refinance means pulling out at least $2,000 or more or paying off a non-purchase second mortgage

All payments estimates above do not include amounts for property taxes and homeowner’s insurance premiums and your actual payment obligation will be greater.

Annual Percentage Rates and Payment Estimates quoted are based on a $100,000 loan amount except the 5/1 ARM, and Jumbo fixed loan amount is $418,000 and 20% down payment with the exception to the FHA and OHFA quotes which are based on a 3.5% down payment.

Qualifying Assumptions (unless otherwise noted): 45 day rate lock, $100K-$417K loan amount, credit scores 740+, Owner-occupied Purchase or rate/term refinance. Cash-out refinances (including paying off a non-purchase 2nd mortgage) could result in a slightly higher interest rate. The interest rates quoted are to serve as a guide only and may be different based on specific loan features. Please call for a specific quote.

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

ON THIS DATE IN HISTORY:
On this date in 1974 Richard Nixon took his final bow as he resigned the Presidency.

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:
Remember, Fannie Mae and Freddie Mac came out with some pretty tough rules about a year and a half ago on making loans on condos. We will go over the next few days what they rules are.

1. There cannot be more than 49% of the condos in the complex as rentals. If there are more than that, the complex is NOT eligible.
2. The complex needs to be turned over to the owners association and all the common areas need to be complete to make the complex eligible.
3. If the complex has more than 20% of its space is commercial, it is a non-conforming complex.
4. Are more than 15% of the owners in the complex more than 30 days behind in their condo dues? If so, it is non-conforming.
5. Does one entitle own more than 10% of the units (including the developer)

THOUGHT OF THE DAY:
“Early to bed, early to rise, and your girl goes out with other guys.” Bob Collins

TODAY’S FUN FACT:
A stack of a trillion new one dollar bills would reach 69,000 miles high.

Rates: Friday, August 6, 2010, 1:45 pm

Loan Program Rate: APR*: Payment Estimates:

30 Year Fixed 4.250% (same) 4.338% $491.94 Interest and Principal
• Purchase or rate and term refinance

30 Year Fixed 4.375% (same) 4.464% $499.59 Interest and Principal
• Cash out refinance***

15 Year Fixed 3.750% (same) 3.903% $727.22 Interest and Principal
• Purchase or rate and term refinance

15 Year Fixed 3.875% (same) 4.029% $733.44 Interest and Principal
• Cash out refinance***

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

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

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

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

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

LEGAL STUFF

• *APR – Annual Percentage Rate
• **ARM – Adjustable Rate Mortgage (rate may increase after consummation of the loan)
• ***Cash out refinance – Refinance means pulling out at least $2,000 or more or paying off a non-purchase second mortgage

All payments estimates above do not include amounts for property taxes and homeowner’s insurance premiums and your actual payment obligation will be greater.

Annual Percentage Rates and Payment Estimates quoted are based on a $100,000 loan amount except the 5/1 ARM, and Jumbo fixed loan amount is $418,000 and 20% down payment with the exception to the FHA and OHFA quotes which are based on a 3.5% down payment.

Qualifying Assumptions (unless otherwise noted): 45 day rate lock, $100K-$417K loan amount, credit scores 740+, Owner-occupied Purchase or rate/term refinance. Cash-out refinances (including paying off a non-purchase 2nd mortgage) could result in a slightly higher interest rate. The interest rates quoted are to serve as a guide only and may be different based on specific loan features. Please call for a specific quote.

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

ON THIS DATE IN HISTORY:
On this date in 1926 Gertrude Ederle became the first woman to swim the English Channel.

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:
Remember, Fannie Mae and Freddie Mac came out with some pretty tough rules about a year and a half ago on making loans on condos. We will go over the next few days what they rules are.

1. There cannot be more than 49% of the condos in the complex as rentals. If there are more than that, the complex is NOT eligible.
2. The complex needs to be turned over to the owners association and all the common areas need to be complete to make the complex eligible.
3. If the complex has more than 20% of its space is commercial, it is a non-conforming complex.
4. Are more than 15% of the owners in the complex more than 30 days behind in their condo dues? If so, it is non-conforming.

THOUGHT OF THE DAY:
“If God wanted us to be brave, why did he give us legs?”
Marvin Kitman

TODAY’S FUN FACT:
The longest hole-in-one in golf was recorded in Nebraska in 1965, 440 yards.

Rates: Thursday, August 4, 2010, 10:30 am

Loan Program Rate: APR*: Payment Estimates:

30 Year Fixed 4.250% (same) 4.338% $491.94 Interest and Principal
• Purchase or rate and term refinance

30 Year Fixed 4.375% (same) 4.464% $499.59 Interest and Principal
• Cash out refinance***

15 Year Fixed 3.750% (-.125) 3.903% $727.22 Interest and Principal
• Purchase or rate and term refinance

15 Year Fixed 3.875% (-.125) 4.029% $733.44 Interest and Principal
• Cash out refinance***

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

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

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

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

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

LEGAL STUFF

• *APR – Annual Percentage Rate
• **ARM – Adjustable Rate Mortgage (rate may increase after consummation of the loan)
• ***Cash out refinance – Refinance means pulling out at least $2,000 or more or paying off a non-purchase second mortgage

All payments estimates above do not include amounts for property taxes and homeowner’s insurance premiums and your actual payment obligation will be greater.

Annual Percentage Rates and Payment Estimates quoted are based on a $100,000 loan amount except the 5/1 ARM, and Jumbo fixed loan amount is $418,000 and 20% down payment with the exception to the FHA and OHFA quotes which are based on a 3.5% down payment.

Qualifying Assumptions (unless otherwise noted): 45 day rate lock, $100K-$417K loan amount, credit scores 740+, Owner-occupied Purchase or rate/term refinance. Cash-out refinances (including paying off a non-purchase 2nd mortgage) could result in a slightly higher interest rate. The interest rates quoted are to serve as a guide only and may be different based on specific loan features. Please call for a specific quote.

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

ON THIS DATE IN HISTORY:
On this date in 1957 Dick Clark began hosting “American Bandstand” on ABC.

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:
Remember, Fannie Mae and Freddie Mac came out with some pretty tough rules about a year and a half ago on making loans on condos. We will go over the next few days what they rules are.

1. There cannot be more than 49% of the condos in the complex as rentals. If there are more than that, the complex is NOT eligible.
2. The complex needs to be turned over to the owners association and all the common areas need to be complete to make the complex eligible.
3. If the complex has more than 20% of its space is commercial, it is a non-conforming complex.

THOUGHT OF THE DAY:
“You always pass failure on the way to success.”
Mickey Rooney

TODAY’S FUN FACT:
Manhole covers are made round because they can’t fall through the manhole itself. Other shapes can.

Rates: Wednesday, August 3, 2010, 11:00 am

Loan Program Rate: APR*: Payment Estimates:

30 Year Fixed 4.250% (-.125) 4.338% $491.94 Interest and Principal
• Purchase or rate and term refinance

30 Year Fixed 4.375% (-.125) 4.464% $499.59 Interest and Principal
• Cash out refinance***

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

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

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

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

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

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

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

LEGAL STUFF

• *APR – Annual Percentage Rate
• **ARM – Adjustable Rate Mortgage (rate may increase after consummation of the loan)
• ***Cash out refinance – Refinance means pulling out at least $2,000 or more or paying off a non-purchase second mortgage

All payments estimates above do not include amounts for property taxes and homeowner’s insurance premiums and your actual payment obligation will be greater.

Annual Percentage Rates and Payment Estimates quoted are based on a $100,000 loan amount except the 5/1 ARM, and Jumbo fixed loan amount is $418,000 and 20% down payment with the exception to the FHA and OHFA quotes which are based on a 3.5% down payment.

Qualifying Assumptions (unless otherwise noted): 45 day rate lock, $100K-$417K loan amount, credit scores 740+, Owner-occupied Purchase or rate/term refinance. Cash-out refinances (including paying off a non-purchase 2nd mortgage) could result in a slightly higher interest rate. The interest rates quoted are to serve as a guide only and may be different based on specific loan features. Please call for a specific quote.

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

ON THIS DATE IN HISTORY:
On this date in 1693 Dom Perignon invented champagne.

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:
Remember, Fannie Mae and Freddie Mac came out with some pretty tough rules about a year and a half ago on making loans on condos. We will go over the next few days what they rules are.

1. There cannot be more than 49% of the condos in the complex as rentals. If there are more than that, the complex is NOT eligible.
2. The complex needs to be turned over to the owners association and all the common areas need to be complete to make the complex eligible.

THOUGHT OF THE DAY:
“If you go long enough without a bath, even the fleas will let you alone.”
Ernie Pyle

TODAY’S FUN FACT:
The largest single edition of a newspaper was the “New York Times”, dated Sunday, October 10, 1971. There were fifteen sections with a total of 972 pages; each copy weighed over seven pounds.

Rates: Tuesday, August 3, 2010, 10:15 am

Loan Program Rate: APR*: Payment Estimates:

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

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

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

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

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

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

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

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

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

LEGAL STUFF

• *APR – Annual Percentage Rate
• **ARM – Adjustable Rate Mortgage (rate may increase after consummation of the loan)
• ***Cash out refinance – Refinance means pulling out at least $2,000 or more or paying off a non-purchase second mortgage

All payments estimates above do not include amounts for property taxes and homeowner’s insurance premiums and your actual payment obligation will be greater.

Annual Percentage Rates and Payment Estimates quoted are based on a $100,000 loan amount except the 5/1 ARM, and Jumbo fixed loan amount is $418,000 and 20% down payment with the exception to the FHA and OHFA quotes which are based on a 3.5% down payment.

Qualifying Assumptions (unless otherwise noted): 45 day rate lock, $100K-$417K loan amount, credit scores 740+, Owner-occupied Purchase or rate/term refinance. Cash-out refinances (including paying off a non-purchase 2nd mortgage) could result in a slightly higher interest rate. The interest rates quoted are to serve as a guide only and may be different based on specific loan features. Please call for a specific quote.

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

ON THIS DATE IN HISTORY:
On this date in 1492 Christopher Columbus set sail from Spain on his way to the New World and the discovery of America. The voyage cost about $7,000 which included his personal salary of $300 a year.

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:
Remember, Fannie Mae and Freddie Mac came out with some pretty tough rules about a year and a half ago on making loans on condos. We will go over the next few days what they rules are.

1. There cannot be more than 49% of the condos in the complex as rentals. If there are more than that, the complex is NOT eligible.

THOUGHT OF THE DAY:
“Children have never been good at listening to their elders, but they have been never failed to imitate them.”
James Baldwin

TODAY’S FUN FACT:
Only three percent of Norway is under cultivation, the rest is under ice.

Rates: Monday, August 2, 2010, 10:30 am

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% (same) 4.839% $546.39 Int. & Princ. & Mtg. Ins.
• Purchase or refinance

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

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

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

LEGAL STUFF

• *APR – Annual Percentage Rate
• **ARM – Adjustable Rate Mortgage (rate may increase after consummation of the loan)
• ***Cash out refinance – Refinance means pulling out at least $2,000 or more or paying off a non-purchase second mortgage

All payments estimates above do not include amounts for property taxes and homeowner’s insurance premiums and your actual payment obligation will be greater.

Annual Percentage Rates and Payment Estimates quoted are based on a $100,000 loan amount except the 5/1 ARM, and Jumbo fixed loan amount is $418,000 and 20% down payment with the exception to the FHA and OHFA quotes which are based on a 3.5% down payment.

Qualifying Assumptions (unless otherwise noted): 45 day rate lock, $100K-$417K loan amount, credit scores 740+, Owner-occupied Purchase or rate/term refinance. Cash-out refinances (including paying off a non-purchase 2nd mortgage) could result in a slightly higher interest rate. The interest rates quoted are to serve as a guide only and may be different based on specific loan features. Please call for a specific quote.

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

ON THIS DATE IN HISTORY:
On this date in 1873 the San Francisco cable car had its first trial run.

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:
Freddie and Fannie are now requiring we not only verify that a condo has interior insurance but we are required to escrow that insurance to make sure it does get done and stays in place.

THOUGHT OF THE DAY:
Aim at nothing and you’ll succeed.

TODAY’S FUN FACT:
“Chop suey” means “odds and ends”.

Rates: Wednesday, June 30, 2010, 12:00 Noon

Loan Program Rate: APR*: Payment Estimates:

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

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

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

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

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

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

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

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

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

LEGAL STUFF

• *APR – Annual Percentage Rate
• **ARM – Adjustable Rate Mortgage (rate may increase after consummation of the loan)
• ***Cash out refinance – Refinance means pulling out at least $2,000 or more or paying off a non-purchase second mortgage

All payments estimates above do not include amounts for property taxes and homeowner’s insurance premiums and your actual payment obligation will be greater.

Annual Percentage Rates and Payment Estimates quoted are based on a $100,000 loan amount except the 5/1 ARM, and Jumbo fixed loan amount is $418,000 and 20% down payment with the exception to the FHA and OHFA quotes which are based on a 3.5% down payment.

Qualifying Assumptions (unless otherwise noted): 45 day rate lock, $100K-$417K loan amount, credit scores 740+, Owner-occupied Purchase or rate/term refinance. Cash-out refinances (including paying off a non-purchase 2nd mortgage) could result in a slightly higher interest rate. The interest rates quoted are to serve as a guide only and may be different based on specific loan features. Please call for a specific quote.

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

ON THIS DATE IN HISTORY:
On this date in 1971 the 26th Amendment was ratified giving the vote to eighteen-year-olds.

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:
Fannie Mae/Freddie Mac along with PMI companies are requiring a borrower be on their job for at least one month before closing a mortgage loan. Proof of that is to be provided by a month’s pay stub. Even though the borrower has a contract showing they are starting on the job, that pay stub is still required.

THOUGHT OF THE DAY:
There is no such thing on earth as an uninteresting subject; the only thing that can exist is an uninteresting person.

TODAY’S FUN FACT:
Two-thirds of mankind is right-handed.

Rates: Tuesday, June 29, 2010, 10:45am

Loan Program Rate: APR*: Payment Estimates:

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

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

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

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

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

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

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

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

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

LEGAL STUFF

• *APR – Annual Percentage Rate
• **ARM – Adjustable Rate Mortgage (rate may increase after consummation of the loan)
• ***Cash out refinance – Refinance means pulling out at least $2,000 or more or paying off a non-purchase second mortgage

All payments estimates above do not include amounts for property taxes and homeowner’s insurance premiums and your actual payment obligation will be greater.

Annual Percentage Rates and Payment Estimates quoted are based on a $100,000 loan amount except the 5/1 ARM, and Jumbo fixed loan amount is $418,000 and 20% down payment with the exception to the FHA and OHFA quotes which are based on a 3.5% down payment.

Qualifying Assumptions (unless otherwise noted): 45 day rate lock, $100K-$417K loan amount, credit scores 740+, Owner-occupied Purchase or rate/term refinance. Cash-out refinances (including paying off a non-purchase 2nd mortgage) could result in a slightly higher interest rate. The interest rates quoted are to serve as a guide only and may be different based on specific loan features. Please call for a specific quote.

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

ON THIS DATE IN HISTORY:
On this date in 1981 Prince Charles and Lady Di were wed.

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:
Fannie Mae and Freddie Mac’s maximum loan amount is $417,000. For many years, they analyzed the average sales prices around the country and adjusted that amount upward every couple years. Since the latest drop is values, Freddie and Fannie have not adjusted the $417,000 even though values have fallen around the country.

THOUGHT OF THE DAY:
“Sports is the toy department of human life.” Howard Cosell

TODAY’S FUN FACT:
TYPEWRITER is the longest word that can be made using the letters on only one row of the keyboard.

Rates: Thursday, June 10, 2010, 11:30am

Loan Program Rate: APR*: Payment Estimates:

30 Year Fixed 4.750% (same) 4.841% $521.65 Interest and Principal
• Purchase or rate and term refinance

30 Year Fixed 4.875% (same) 4.966% $529.21 Interest and Principal
• Cash out refinance***

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

15 Year Fixed 4.375% (same) 4.531% $758.62 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% (same) 5.363% $576.61 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) 4.624% $470.24 Interest and Principal
• Up to $1,000,000 purchase or refinance. Payment would adjust to $503.75 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) 4.647% $491.94 Interest and Principal
• Up to $1,000,000 purchase or refinance. Payment would adjust to $517.71 in 5 years (4.250% interest rate) if the rate were to adjust based on the current index rate

LEGAL STUFF

• *APR – Annual Percentage Rate
• **ARM – Adjustable Rate Mortgage (rate may increase after consummation of the loan)
• ***Cash out refinance – Refinance means pulling out at least $2,000 or more or paying off a non-purchase second mortgage

All payments estimates above do not include amounts for property taxes and homeowner’s insurance premiums and your actual payment obligation will be greater.

Annual Percentage Rates and Payment Estimates quoted are based on a $100,000 loan amount except the 5/1 ARM, and Jumbo fixed loan amount is $418,000 and 20% down payment with the exception to the FHA and OHFA quotes which are based on a 3.5% down payment.

Qualifying Assumptions (unless otherwise noted): 45 day rate lock, $100K-$417K loan amount, credit scores 740+, Owner-occupied Purchase or rate/term refinance. Cash-out refinances (including paying off a non-purchase 2nd mortgage) could result in a slightly higher interest rate. The interest rates quoted are to serve as a guide only and may be different based on specific loan features. Please call for a specific quote.

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

ON THIS DATE IN HISTORY:
On this date in 1935 Alcoholics Anonymous was founded in New York City by “Doctor Bob” Smith, William G. Wilson, and Al K. Hall.

Stephen Wagner
Mortgage Lender since 1974
The Arlington Bank
4621 Reed Road
Columbus, OH 43220
Office: 614-486-9104
Cell: 614-271-0888
Fax: 614-486-4078

Go out there and sell something today.

MORTGAGE TIP OF THE DAY:
There are many levels of rules in making a mortgage loan. Freddie Mac and Fannie Mae have rules. The servicer may have more strict rules. PMI companies may have even more strict rules. So sometimes it is difficult to get the exact ruling on a certain issue. The most notable rule is debt ratios. PMI has the most conservative rule of them all.

THOUGHT OF THE DAY:
“Throw your heart over the fence and the rest will follow.” Norman Vincent Peale

TODAY’S FUN FACT:
The catfish has over 27,000 taste buds, that makes the catfish rank #1 for animal having the most taste buds.

Rates: Monday, June 7, 2010, 10:45am

Loan Program Rate: APR*: Payment Estimates:

30 Year Fixed 4.750% (same) 4.841% $521.65 Interest and Principal
• Purchase or rate and term refinance

30 Year Fixed 4.875% (same) 4.966% $529.21 Interest and Principal
• Cash out refinance***

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

15 Year Fixed 4.375% (same) 4.531% $758.62 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% (same) 5.363% $576.61 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) 4.624% $470.24 Interest and Principal
• Up to $1,000,000 purchase or refinance. Payment would adjust to $503.75 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) 4.647% $491.94 Interest and Principal
• Up to $1,000,000 purchase or refinance. Payment would adjust to $517.71 in 5 years (4.250% interest rate) if the rate were to adjust based on the current index rate

LEGAL STUFF

• *APR – Annual Percentage Rate
• **ARM – Adjustable Rate Mortgage (rate may increase after consummation of the loan)
• ***Cash out refinance – Refinance means pulling out at least $2,000 or more or paying off a non-purchase second mortgage

All payments estimates above do not include amounts for property taxes and homeowner’s insurance premiums and your actual payment obligation will be greater.

Annual Percentage Rates and Payment Estimates quoted are based on a $100,000 loan amount except the 5/1 ARM, and Jumbo fixed loan amount is $418,000 and 20% down payment with the exception to the FHA and OHFA quotes which are based on a 3.5% down payment.

Qualifying Assumptions (unless otherwise noted): 45 day rate lock, $100K-$417K loan amount, credit scores 740+, Owner-occupied Purchase or rate/term refinance. Cash-out refinances (including paying off a non-purchase 2nd mortgage) could result in a slightly higher interest rate. The interest rates quoted are to serve as a guide only and may be different based on specific loan features. Please call for a specific quote.

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

ON THIS DATE IN HISTORY:
On this date in 1944 Allied troops stormed ashore at Normandy Beach for D-Day, Operation Overload.

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