Zach Dahl's Blog

NewsletterMarch 2008

Zach Dahl

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Purchasing a Home?

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Need to Refinance?

Save money by taking advantage of the lowest rates available.
Consolidating Debt?

Use your home to help eliminate bad debt and bundle your bills into one easy monthly payment.
Apply Now!

Your loan approval is only minutes away when you apply online using one of our easy loan application options.
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Real Estate Marketplace

Rochelle, VA

5 Bed, 3.5 Bath

$1,150,000

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Zach Dahl

Ameritime Mortgage Company

Phone:703-864-5257

Fax:434-296-5625

MORTGAGE NEWS
Rates Drop & Mortgage Application Volume Rises
Mortgage application volume increased 3 percent going into March, according to a weekly application survey by the trade group, Mortgage Bankers Association.

Check out our "Resource Center" to your left to find a tool that suits your mortgage or real estate needs. Now is the time to take action!
Read the full story at BusinessWeek.com

BUSINESS NEWS
Airborne Settles Lawsuit for $23.3 Million
The herbal supplement firm will settle a class-action lawsuit that alleges false advertising. It looks like money will be refunded to customers...
Read the full story at CNNMoney.com

YOU TUBE VIDEO OF THE MONTH
Hilarious Japanese Prank Show Video Clip
A compilation of video clips from a Japanese hidden camera prank show that will have you rolling! Just click on the link below and enjoy.
Watch the video clip at YouTube.com

RECIPE OF THE MONTH
Garlic Mashed Potatoes Secret Recipe
This Garlic Mashed Potatoes recipe has been reverse engineered from a certain Italian restaurant.
Read the full recipe at AllRecipes.com

Entertainment
Ridley Scott To Make a Monopoly Movie
There's word from Down Under that Monopoly will be made into a major motion picture, and it will actually be directed by the great Ridley Scott.
Read the full story at Cinematical.com

Rest in Peace, HD DVD
Blu-Ray has won the high-def war.
Read the full story at BusinessWeek.com

WIKIPEDIA ARTICLE OF THE MONTH
Search Engine Optimization
SEO (Search Engine Optimization) is the process of improving the quality and quantity of traffic to a website from search engines for targeted key words.
Read the full story at Wikipedia.com

PHOTO IN THE NEWS
First Mars Avalanches Seen In Action
The first-ever picture of avalanches occurring on Mars might have had scientists yodeling for joy when they found it among the latest batch of images from NASA's orbiting HiRISE camera.
Read the full story story at NationalGeographic.com

FUNNY DUMB CRIMINAL STORIES

1. Chicago, IL: A man was wanted for throwing bricks through jewelry store windows and making off with the loot. He was arrested last night after throwing a brick into a Plexiglas window...the brick bounced back, hit him in the head and knocked him cold until the police got there.

2. Portsmouth, RI: Police charged Gregory Rosa, 25, with a string of vending machine robberies in January when he: 1. fled from police inexplicably when they spotted him loitering around a vending machine and 2. later tried to post his $400 bail in coins.

3. Lake City, FL: Karen Lee Joachimi, 20, was arrested for robbery of a Howard Johnson's motel. She was armed with only an electric chainsaw, which was not plugged in.

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Glossary of Mortgage Products Part 1: Conventional Mortgages

Zach Dahl Virginia Home Loans (Ameritime Mortgage Company, LLC.) — Sat, 08 Mar 2008 14:43:56 -0600

Conventional Loans:

Conventional loans are mortgage loans offered by non-government sponsored lenders. These loan types can range anywher from 10 to 40 years and include:

Fixed Rate Loans
Adjustable Rate Loans (ARMs)
Interest Only Mortgages
Combination (1st and 2nd) Loans
Balloon Mortgages
Renovation/ Rehab / Construction to Permanent Loans
Jumbo Mortgages (Note: Effective March 3, 2008 - Jumbo Mortgages are now determined by county and state. Click here to find out more.
Reverse Mortgage

If you would like any assistance in comparing one conventional loan with the next, please feel free to contact me at anytime.

Get Started

Mortgage Rates: Week Ending March 7, 2008

Zach Dahl Virginia Home Loans (Ameritime Mortgage Company, LLC.) — Fri, 07 Mar 2008 15:41:57 -0600

Zach Dahl

703-864-5257

Mortgage Rate UpdateMarch 7th, 2008

Zach Dahl

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Purchasing a Home?

Turn the home of your dreams into reality.
Need to Refinance?

Save money by taking advantage of the lowest rates available.
Consolidating Debt?

Use your home to help eliminate bad debt and bundle your bills into one easy monthly payment.
Apply Now!

Your loan approval is only minutes away when you apply online using one of our easy loan application options.
Recommended Professionals

Click here for direct access to our network of proven business professionals.

Real Estate Marketplace

Rochelle, VA

5 Bed, 3.5 Bath

$1,150,000

Contact

Zach Dahl

Ameritime Mortgage Company

Phone:703-864-5257

Fax:434-296-5625

Mortgage Rates - Effective March 7, 2008

*Fixed Rate Mortgages	_{30 Yr FRM}	_{30 Yr IO}	_{15 Yr FRM}
Interest Rate (0 points)	6.125%	6.50%	5.50%
Interest Rate (1 point)	5.875%	6.25%	5.25%
Fixed/ Interest Only Term (months)	360	360 (10 Yr IO)	180
Principal & Interest Payment (0 points)	$1,215.22	$1,083.33	$1,634.17
Principal & Interest Payment (1 point)	$1,183.08	$1,041.67	$1,607.76
**Jumbo Fixed Rate Mortgages	_{Jumbo 30 Yr FRM}	_{Jumbo 30 Yr IO}	_{Jumbo 15 Yr FRM}
Interest Rate (0 points)	7.25%	7.25%	6.875%
Interest Rate (1 point)	6.875%	6.875%	6.50%
Fixed/ Interest Only Term (months)	360	360 (10 Yr IO)	180
Principal & Interest Payment (0 points)	$2,865.14	$2,537.50	$3,745.79
Principal & Interest Payment (1 point)	$2,759.10	$2,406.25	$3,658.65
*LIBOR/TBILL ARM's	_{3/1 ARM}	_{5/1 ARM}	_{7/1 ARM}
Interest Rate (0 points)	4.875%	5.25%	5.875%
Interest Rate (1 point)	4.50%	4.625%	5.25%
Fixed Term (months)	36	60	84
Principal & Interest Payment (0 points)	$1,058.42	$1,104.41	$1,183.08
Principal & Interest Payment (1 point)	$1,013.37	$1,028.28	$1,104.41
*LIBOR/TBill ARM's - Interest Only	_{3/1 IO ARM}	_{5/1 IO ARM}	_{7/1 IO ARM}
Interest Rate (0 points)	5.00%	5.25%	5.55%
Interest Rate (1 point)	4.50%	4.75%	5.00%
Interest OnlyTerm (months)	36	60	84
Principal & Interest Payment (0 points)	$833.33	$875.00	$916.67
Principal & Interest Payment (1 point)	$750.00	$791.67	$833.33
**Jumbo LIBOR/TBill ARM's	_{Jumbo 3/1 ARM}	_{Jumbo 5/1 ARM}	_{Jumbo 7/1 ARM}
Interest Rate (0 points)	6.00%	6.50%	6.50%
Interest Rate (1 point)	5.50%	5.625%	6.00%
Fixed Term (months)	36	60	84
Principal & Interest Payment (0 points)	$2,518.12	$2,654.69	$2,654.69
Principal & Interest Payment (1 point)	$2,384.72	$2,417.76	$2,518.11
**Jumbo LIBOR/TBill ARM's - Interest Only	_{Jumbo 3/1 IO ARM}	_{Jumbo 5/1 IO ARM}	_{Jumbo 7/1 IO ARM}
Interest Rate (0 points)	6.125%	6.625%	6.625%
Interest Rate (1 point)	5.625%	5.75%	6.125%
Interest Only Term (months)	36	60	84
Principal & Interest Payment (0 points)	$2,143.75	$2,318.75	$2,318.75
Principal & Interest Payment (1 point)	$1,968.75	$2,012.50	$2,143.75
***Government Loans Programs	_{FHA 30 Yr FRM}	_{FHA 15 Yr FRM}	_{VA 30 Yr FRM}
Interest Rate (0 points)	6.00%	5.625%	6.00%
Interest Rate (1 point)	5.75%	5.375%	5.75%
Fixed Term (months)	360	360	360
Principal & Interest Payment (0 points)	$1,453.19	$1,997.54	$1,453.19
Principal & Interest Payment (1 point)	$1,415.16	$1,965.38	$1,415.16

*Conforming Scenarios Based On: $250,00 sales price/Full Documentation/Owner Occupied/Single Family Residence/680 FICO score with 20% Down

**Jumbo Scenarios Based On: $525,00 sales price/Full Documentation/Owner Occupied/Single Family Residence/720 FICO score with 20% Down

***Gov't Scenarios Based On: $250,00 sales price/Full Documentation/Owner Occupied/Single Family Residence/620 FICO score with 3% Down

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313 2nd St. SE Suite 112
Charlottesville, VA 22902

Northern Virginia New Conforming/FHA Loan Limits

Zach Dahl Virginia Home Loans (Ameritime Mortgage Company, LLC.) — Thu, 06 Mar 2008 15:16:35 -0600

Fannie Mae, Freddie Mac and FHA have all adopted these new maximum loan limitations. If you have limited equity or a jumbo loan, refinance now and save thousands of dollars! If you are purchasing a property over $417,000, this year you can qualify for conforming rates! Click on any below to get started!

County	1 Unit	2 Unit	3 Unit	4 Unit
Fairfax	$729,750	$934,200	$1,129,250	$1,403,400
Loudoun	$729,750	$934,200	$1,129,250	$1,403,400
Arlington	$729,750	$934,200	$1,129,250	$1,403,400
Prince William	$729,750	$934,200	$1,129,250	$1,403,400
Fauquier	$729,750	$934,200	$1,129,250	$1,403,400
Clarke	$729,750	$934,200	$1,129,250	$1,403,400
Stafford	$729,750	$934,200	$1,129,250	$1,403,400

Effective 03/05/08 - FHA Raises Loan Limitations in 14 California Counties

Zach Dahl Virginia Home Loans (Ameritime Mortgage Company, LLC.) — Thu, 06 Mar 2008 14:02:39 -0600

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703-864-5257

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March 6, 2008

Effective March 05, 2008:

The Federal Housing Administration (FHA) announced yesterday that it has increased its' loan limitations for 14 counties in California. San Diego County will see loans increases up to $697,500 while Orange County will see FHA loans available up to $729,750! Sources also report that Fannie Mae and Freddie Mac will follow suit.

To check your FHA maximum loan amount by state and county, please click here.

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313 2nd St. SE Suite 112
Charlottesville, VA 22902

...Why Conforming Loan Limits SHOULD Be Raised Now...

Zach Dahl Virginia Home Loans (Ameritime Mortgage Company, LLC.) — Thu, 06 Mar 2008 13:06:04 -0600

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703-864-5257

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March 6, 2008

Released October 22, 2007 by the OFHEO

Note: This graph represents the spread between conforming and jumbo 30 year Fixed rate mortgages. We can cleary see that boosting the conforming limit from $417,000 to the lesser of:

A) $729,000 OR

B) 125% of the median area sales price

will open up more opportunity for new and existing home buyers to acquire AFFORDABLE mortgage rates.

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Charlottesville, VA 22902

Search Charlottesville - Albemarle Real Estate Here

Zach Dahl Virginia Home Loans (Ameritime Mortgage Company, LLC.) — Wed, 05 Mar 2008 10:24:37 -0600

Search for new homes or find mortgage rates, real estate agents, and relocation services throughout the United States. Whether you are a first time home buyer or investor, you will be sure to find what you need. Get started and find Affordable Housing In Charlottesville, Albemarle, Fluvanna, Louisa, Greene and More...

Fannie, Freddie, OFHEO, Attorney General Cuomo Combat Appraisal Fraud and More

Zach Dahl Virginia Home Loans (Ameritime Mortgage Company, LLC.) — Tue, 04 Mar 2008 14:31:42 -0600

Ameritime Mortgage Company - Newsletter

Zach Dahl

703-864-5257

NewsletterMarch 2008

Zach Dahl

Resource Center

Purchasing a Home?

Turn the home of your dreams into reality.
Need to Refinance?

Save money by taking advantage of the lowest rates available.
Consolidating Debt?

Use your home to help eliminate bad debt and bundle your bills into one easy monthly payment.
Apply Now!

Your loan approval is only minutes away when you apply online using one of our easy loan application options.
Recommended Professionals

Click here for direct access to our network of proven business professionals.

Real Estate Marketplace

Rochelle, VA

5 Bed, 3.5 Bath

$1,150,000

Contact

Zach Dahl

Ameritime Mortgage Company

Phone:703-864-5257

Fax:434-296-5625

Fannie, Freddie, OFHEO, Attorney General Cuomo Combat Appraisal Fraud

(March 3, 2008) - Office of Federal Housing Enterprise Oversight Committee Director James B. Lockhart sat down with Attorney General Andrew Cuomo and the two Enterprises Fannie Mae and Freddie Mac to discuss and make revisions to the appraisal process for residential mortgages. The agreement, which will be implemented by January 1st, 2009, will be:

"...eliminating broker-ordered appraisals, prohibiting appraiser coercion, and reducing the use of appraisals prepared in-house or through captive appraisal management companies in underwriting mortgages. The agreements also enhance quality control in the appraisal process and establish a complaint hotline for consumers. The agreements include a Home Valuation Code of Conduct that the GSE's will apply to lenders selling mortgages to Fannie Mae or Freddie Mac". ... (read more)

Marketwatch - Dow Jones Falls

(March 4, 2008) - Stocks dropped just under 200 points today on recent forecasts of increasing numbers of foreclosures by the federal reserve and downgrades by tech forerunner Intel. The 'INDU' 52 week low is currently at 11,508.74, while current market index readings are at 12,091.52... (read more)

Daily Mortgage Commentary

(March 4, 2008) - The Bond market showed little activity at the start of the day as there were no relevant economic pieces of data set to released today.... (read more)

The Beige Book: The Power To Surprise?

(March 4, 2008) - The Fed release their 2nd reading for 2008 tomorrow, just two weeks before their heavily anticipated March 18th meeting. While all signs point towards another .50% rate cut, catching what is released in the Beige Book tomorrow can provide insight on where the Federal Reserve believe our economy is headed.... (read more)

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Search Virginia Beach Real Estate Here!

Zach Dahl Virginia Home Loans (Ameritime Mortgage Company, LLC.) — Thu, 28 Feb 2008 10:34:44 -0600

Search for a new home or find mortgage rates, real estate agents, and relocation services throughout the US. Find Affordable Housing Right Around The Corner. With a soft real estate, there are hundreds of thousands listings to choose from. Whether you are a first time home buyer or investor, you'll be sure to find what you need.

2007 Fourth Quarter GDP Shows Slower Growth

Zach Dahl Virginia Home Loans (Ameritime Mortgage Company, LLC.) — Thu, 28 Feb 2008 10:29:03 -0600

Ameritime Mortgage Company - Newsletter

Zach Dahl

703-864-5257

NewsletterFebruary 2008

Zach Dahl

Resource Center

Purchasing a Home?

Turn the home of your dreams into reality.
Need to Refinance?

Save money by taking advantage of the lowest rates available.
Consolidating Debt?

Use your home to help eliminate bad debt and bundle your bills into one easy monthly payment.
Apply Now!

Your loan approval is only minutes away when you apply online using one of our easy loan application options.
Recommended Professionals

Click here for direct access to our network of proven business professionals.

Real Estate Marketplace

Rochelle, VA

5 Bed, 3.5 Bath

$1,150,000

Contact

Zach Dahl

Ameritime Mortgage Company

Phone:703-864-5257

Fax:434-296-5625

2007 Fourth Quarter GDP Shows Slower Growth

(February 28, 2008) - The U.S. economy grew less than expected in the fourth quarter, relying on exports as consumer spending slowed and the slump in homebuilding deepened... (read more)

Fannie, Freddie to See Higher Conforming Loan Limits

(February 27, 2008) - Fannie Mae and Freddie Mac, the two largest financiers for the U.S. mortgage market, will see their portfolio growth caps removed as of March 1, 2008. Read the statement released yesterday by OFHEO director James B. Lockhart... (read more)

NAR - U.S. Economic Indicators, 2008

(February - 2008) - Provided by the National Association of Realtors, this data reveals past, present and future economic indicators... (read more)

President Bush to Address Housing, Iraq and More Today

(February 28, 2008) - President Bush will discuss issues including the U.S. housing market and the war in Iraq at a press conference scheduled for 10:05 a.m. Eastern today... (read more)

Bernanke Tells Congress There's Room For More Rate Cuts

(February 26, 2008) - Federal Reserve Chairman Ben Bernanke will deploy his most reassuring bedside manner in congressional testimony on Wednesday and Thursday to explain how the U.S. central bank, which has already cut interest rates 2-1/4 percentage points since mid-September, can trim them further to prevent recession without letting inflation get out of hand... (read more)

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Unemployment: How Does Your State Rate?

Zach Dahl Virginia Home Loans (Ameritime Mortgage Company, LLC.) — Wed, 27 Feb 2008 15:25:03 -0600

Ameritime Mortgage Company - Newsletter

Zach Dahl

703-864-5257

NewsletterFebruary 2008

Zach Dahl

Resource Center

Purchasing a Home?

Turn the home of your dreams into reality.
Need to Refinance?

Save money by taking advantage of the lowest rates available.
Consolidating Debt?

Use your home to help eliminate bad debt and bundle your bills into one easy monthly payment.
Apply Now!

Your loan approval is only minutes away when you apply online using one of our easy loan application options.
Recommended Professionals

Click here for direct access to our network of proven business professionals.

Real Estate Marketplace

Rochelle, VA

5 Bed, 3.5 Bath

$1,150,000

Contact

Zach Dahl

Ameritime Mortgage Company

Phone:703-864-5257

Fax:434-296-5625

Rank	State Employment Ratio as of November, 2007	%
1.	Idaho	2.7
2.	South Dakota	2.8
2.	Utah	2.8
4.	Hawaii	2.9
4.	Wyoming	2.9
6.	Nebraska	3.1
6.	North Dakota	3.1
8.	Virginia	3.2
9.	Delaware	3.4
9.	Montana	3.4
9.	New Hampshire	3.4
9.	New Mexico	3.4
13.	Alabama	3.5
13.	Louisiana	3.5
15.	Maryland	3.7
16.	Kansas	3.8
17.	Iowa	3.9
17.	Vermont	3.9
19.	Arizona	4.1
19.	Colorado	4.1
21.	New Jersey	4.2
21.	Pennsylvania	4.2
21.	Texas	4.2
24.	Florida	4.3
24.	Massachusetts	4.3
26.	Georgia	4.4
26.	Minnesota	4.4
28.	Oklahoma	4.5
29.	New York	4.6
29.	West Virginia	4.6
31.	Indiana	4.7
31.	North Carolina	4.7
31.	Washington	4.7
34.	Maine	4.9
34.	Tennessee	4.9
36.	Connecticut	5.0
36.	Kentucky	5.0
38.	Wisconsin	5.1
39.	Illonois	5.2
39.	Missouri	5.2
39.	Rhode Island	5.2
42.	Nevada	5.4
43.	Oregon	5.5
44.	California	5.6
44.	Ohio	5.6
46.	Arkansas	5.7
46.	District of Columbia	5.7
48.	South Carolina	5.9
49.	Mississippi	6.3
50.	Alaska	6.4
51.	Michigan	7.4

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Mortgage Rates: February 25, 2008

Zach Dahl Virginia Home Loans (Ameritime Mortgage Company, LLC.) — Mon, 25 Feb 2008 15:04:09 -0600

Ameritime Mortgage Company - Newsletter

Zach Dahl

703-864-5257

NewsletterFebruary 2008

Zach Dahl

Resource Center

Purchasing a Home?

Turn the home of your dreams into reality.
Need to Refinance?

Save money by taking advantage of the lowest rates available.
Consolidating Debt?

Use your home to help eliminate bad debt and bundle your bills into one easy monthly payment.
Apply Now!

Your loan approval is only minutes away when you apply online using one of our easy loan application options.
Recommended Professionals

Click here for direct access to our network of proven business professionals.

Real Estate Marketplace

Rochelle, VA

5 Bed, 3.5 Bath

$1,150,000

Contact

Zach Dahl

Ameritime Mortgage Company

Phone:703-864-5257

Fax:434-296-5625

_{www.qualifyandclose.com}

Mortgage Rates - Effective February 25, 2008

*Fixed Rate Mortgages	_{30 Yr FRM}	_{30 Yr IO}	_{15 Yr FRM}
Interest Rate (0 points)	6.25%	6.50%	5.75%
Interest Rate (1 point)	6.00%	6.25%	5.50%
Fixed/ Interest Only Term (months)	360	360 (120 IO)	180
Principal & Interest Payment (0 points)	$1,231.43	$1,083.33	$1,660.82
Principal & Interest Payment (1 point)	$1,199.10	$1,041.67	$1,634.17
**Jumbo Fixed Rate Mortgages	_{Jumbo 30 Yr FRM}	_{Jumbo 30 Yr IO}	_{Jumbo 15 Yr FRM}
Interest Rate (0 points)	7.00%	7.125%	6.25%
Interest Rate (1 point)	6.625%	6.75%	5.75%
Fixed/ Interest Only Term (months)	360	360 (120 IO)	180
Principal & Interest Payment (0 points)	$2,794.27	$2,493.75	$3,601.18
Principal & Interest Payment (1 point)	$2,689.31	$2,362.50	$3,487.72
*LIBOR/TBILL ARM's	_{3/1 ARM}	_{5/1 ARM}	_{7/1 ARM}
Interest Rate (0 points)	4.625%	4.875%	5.375%
Interest Rate (1 point)	4.125%	4.375%	4.875%
Fixed Term (months)	36	60	84
Principal & Interest Payment (0 points)	$1,028.28	$1,058.42	$1,119.94
Principal & Interest Payment (1 point)	$969.30	$998.57	$1,058.42
*LIBOR/TBill ARM's - Interest Only	_{3/1 IO ARM}	_{5/1 IO ARM}	_{7/1 IO ARM}
Interest Rate (0 points)	4.625%	5.125%	5.375%
Interest Rate (1 point)	4.375%	4.625%	4.875%
Interest OnlyTerm (months)	36	60	84
Principal & Interest Payment (0 points)	$770.83	$854.17	$895.83
Principal & Interest Payment (1 point)	$729.17	$770.83	$812.50
**Jumbo LIBOR/TBill ARM's	_{Jumbo 3/1 ARM}	_{Jumbo 5/1 ARM}	_{Jumbo 7/1 ARM}
Interest Rate (0 points)	5.50%	5.875%	6.125%
Interest Rate (1 point)	5.25%	5.375%	5.75%
Fixed Term (months)	36	60	84
Principal & Interest Payment (0 points)	$2,384.71	$2,484.46	$2,551.96
Principal & Interest Payment (1 point)	$2,319.26	$2,351.88	$2,451.01
**Jumbo LIBOR/TBill ARM's - Interest Only	_{Jumbo 3/1 IO ARM}	_{Jumbo 5/1 IO ARM}	_{Jumbo 7/1 IO ARM}
Interest Rate (0 points)	5.875%	6.125%	6.25%
Interest Rate (1 point)	5.25%	5.625%	5.75%
Interest Only Term (months)	36	60	84
Principal & Interest Payment (0 points)	$2.056.25	$2,143.75	$2,187.50
Principal & Interest Payment (1 point)	$1,837.50	$1,968.75	$2,012.50
***Government Loans Programs	_{FHA 30 Yr FRM}	_{FHA 15 Yr FRM}	_{VA 30 Yr FRM}
Interest Rate (0 points)	6.00%	5.625%	6.00%
Interest Rate (1 point)	5.75%	5.375%	5.75%
Fixed Term (months)	360	360	360
Principal & Interest Payment (0 points)	$1,453.19	$1,997.54	$1,453.19
Principal & Interest Payment (1 point)	$1,415.16	$1,965.38	$1,415.16

*Conforming Scenarios Based On: $250,00 sales price/Full Documentation/Owner Occupied/Single Family Residence/680 FICO score with 20% Down

**Jumbo Scenarios Based On: $525,00 sales price/Full Documentation/Owner Occupied/Single Family Residence/720 FICO score with 20% Down

***Gov't Scenarios Based On: $250,00 sales price/Full Documentation/Owner Occupied/Single Family Residence/620 FICO score with 3% Down

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Mortgages Rates Take A Hike - See Largest Increase in 14 Years

Zach Dahl Virginia Home Loans (Ameritime Mortgage Company, LLC.) — Fri, 22 Feb 2008 10:31:52 -0600

Mortgage rates jumped dramatically during the past week, rising to an average of 6.37% for a 30-year conforming fixed-rate mortgage - 41 basis points above the average rate just one week earlier. According to Bankrate.com's weekly national survey of large lenders, rates on 30-year jumbos soared to 7.55%. The jump in rates represents the single largest weekly increase since April 1994. Let's try and gleam some light as to why this is happening, shall we?

Reports revealed Wednesday that mortgage application activity has fallen significantly as rates have risen amid a renewed focus on inflation.

But inflationary concerns aren't the only catalyst behind the mortgage rate increase, according to traders on Wall Street. A key factor now driving mortgage rates, apparently, is growing sentiment that even conforming mortgages will be less interchangeable than they have been in the past, curtailing liquidity on the secondary market.

(Investors trading to other Investors + faster rate = more revenue/less interest = more liquidity = stronger economy)

While the Securities Industry and Financial Markets Association (SIFMA)has said it will keep newly-conforming jumbo mortgages (which should be implemented into the mortgage industry within the next 30-60 days) trading in a specified-pool rather than including them with conforming mortgages, investors still face a growing uneasiness over just what else is going to be thrown at the market.

Currently Congress is already considering a housing stimulus package (The Foreclosure Prevention Act of 2008) that would make modifications of mortgage principal allowable in Chapter 13 bankruptcies, for one; while news today revealed that the Office of Thrift Supervision is considering the creation of a Negative Equity Certificate, which "plans to help mortgage borrowers who owe more than their homes are worth and to discourage them from abandoning those properties."

While all of these reforms to the mortgage industry should get us back on our feet, a primary concern for traders and investors alike is that too much modification to mortgage backed securities will further hinder trading of these assets and stunt the pace of reform that is needed to build a stronger economy.

Freddie Mac: Fixed Rates Rise - Adjustables Down

Zach Dahl Virginia Home Loans (Ameritime Mortgage Company, LLC.) — Thu, 21 Feb 2008 10:01:30 -0600

A survey today released by Freddie Mac showed fixed rates were up from last week but down from fixed rates at this time last year. Meanwhile, adjustable rates were up from last week but considerably lower from adjustable rates at this time last year:

30-year, fixed-rate loans averaged 6.04%, up from 5.72% a week ago, but lower than the year-ago 6.22%
15-year fixed-rate loans averaged 5.64%, up from 5.25% a week ago, but down from 5.97% a year ago.
Five-year Treasury-indexed adjustable-rate mortgages averaged 5.37%, compared with 5.19% a week ago and 5.96% a year ago.

"After trending up in the past two weeks, long-term fixed mortgage rates are back up to nearly where they were at the beginning of the year. In contrast, average rates on adjustable-rate mortgages are about 0.5 percentage points below levels of the first week of this year," said Frank Nothaft, Freddie Mac vice president and chief economist. "As the spread between long-term fixed-rates and adjustable-rates widens, it's possible we could see a slight increase in the popularity of adjustable-rate mortgages."

Mortgage Rates - Effective February 20, 2008

Zach Dahl Virginia Home Loans (Ameritime Mortgage Company, LLC.) — Wed, 20 Feb 2008 13:34:11 -0600

0 Points - Conforming
30 Yr FRM		6.250%
15 Yr FRM		5.750%
30 Yr FHA		5.875%
3/1 Yr ARM		5.250%
5/1 Yr ARM		5.375%
7/1 Yr ARM		5.750%
5/1 Yr ARM IO		5.375%

Week Ending 02.15.08: Mortgage Rates Jump - Applications Down Nearly 23%

Zach Dahl Virginia Home Loans (Ameritime Mortgage Company, LLC.) — Wed, 20 Feb 2008 10:42:03 -0600

Increased concern of inflation caused mortgage applications to drop nearly 23% last week, according to the Mortgage Bankers Association. The MBA reported that the average application rate for 30-year fixed-rate mortgages had risen 37 basis points by last Friday to 6.09 percent, as a result. While updated rate surveys from are set to be released tomorrow, early evidence suggests rates have jumped even further to start this week - erasing nearly all of the rate drops that we have seen in less than two weeks time. Current 30 year FRM's are averaging 6.25% today while 15 year FRM's are averaging 5.75%.

Concerns of increasing inflationary pressures could be warranted. The U.S. Department of Labor released January's CPI report (Consumer Price Index), showing an increase of over 4% in pricing on consumer based products from January 07' numbers. This increase is the highest seen since January 06'.

"Say Hello to My Little Friends"...Jumbo Conforming and FHA Expanded Loans

Zach Dahl Virginia Home Loans (Ameritime Mortgage Company, LLC.) — Tue, 19 Feb 2008 11:24:49 -0600

Conforming and FHA Limits Boosted: President Bush Signs H.R. 5140

President Bush on February 13, 2008 signed H.R. 5140, making official a temporary boost to both conforming and FHA loan limits. The new law boosts the Fannie Mae and Freddie Mac conforming loan limit to as much as $729,750 through the end of this year, and also raises FHA lending limits to the same level for high-cost areas.

To recap, Fannie and Freddie have held a conforming loan limit (as determined OFHEO) of $417,000 and financing above that in recent months have seen significant rate increases (more than 1%), making jumbo loans virtually unaffordable.

Get the full details of H.R. 5140, the Economic Stimulus Act of 2008 here

The U.S. Department of Housing and Urban Development now has 30 days to publish a database of house prices that will be essential in determining which markets get access to the new ‘jumbo conforming' or ‘expanded FHA' loan products.

Visit HUD for housing and community updates

It will be interesting to see what unfolds in the next month. Increasing conforming and FHA loan limitations will provide more options to those seeking affordable principal and interest payments for their purchase or refinance transaction.

What Does the Fed Cut Mean For You?

Zach Dahl Virginia Home Loans (Ameritime Mortgage Company, LLC.) — Tue, 19 Feb 2008 10:13:04 -0600

Amstar Mortgage Corp - Newsletter

Zach Dahl

703-864-5257

NewsletterFebruary 2008

Zach Dahl

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Phone:703-864-5257

Fax:434-296-5625

MORTGAGE NEWS
What does Fed rate cut mean for you?
The Federal Reserve cut interest rates for the second time in about about a week amid rumblings about a recession. While Wall Street may celebrate the lower rates, what will it mean for the average consumer? CNN personal finance editor Gerri Willis breaks it down.
Read the full story at CNN.com

Stocks Surge on Big Fed Rate Cut
The FOMC's super-sized half-point easing Tuesday sparked huge gains in equity indexes.
Read the full story at BusinessWeek

BUSINESS NEWS
Is Yahoo Worth $44.6 billion?
On February 1st, Microsoft CEO Steve Ballmer announced that the company initiated a $44.6 billion takeover bid for Yahoo! This is the second time the juggernaut has made a play for the online service.
Read the full story at Newsweek

A Better Way to Track the Economy
A groundbreaking Commerce Deptartment report could lead to new yardsticks for measuring growth.
Read the full story at BusinessWeek

Writer's Strike having impact on prime-time
As broadcast networks head into the February sweeps period, the prolonged writers strike is starting to be felt in prime-time ratings.
Read the full story at BusinessWeek

RECIPE OF THE MONTH
Twenty for Twenty
Don't like repeated trips to the grocery store? Stock up on these 20 ingredients, and you can make 20 delicious dinners.
Read the full recipe at AllRecipes.com

TECHNOLOGY
New Super-Efficient Micro Chip Could Run on Body Heat
A new chip uses so little power, it could enable sensors, communication devices and other gadgets that run on body heat and movement alone.
Read the full story at Wired.com

Revolutionary New Jet
A new jet engine designed to fly at seven times the speed of sound appears to have been successfully tested.
Read the full story at BBC News

WIKIPEDIA ARTICLE OF THE MONTH
Asian Giant Hornet
The Asian giant hornet (Vespa mandarinia) is the world's largest hornet. Queens may reach a length of 55 mm (2.2 in). Due to it's size, it is known in Japan as Suzume-Bachi or Sparrow-Bee.
Read the full story at Wikipedia.com

HUMOR
Blind Man in Texas
There once was a blind man who decided to visit Texas.

When he arrived on the plane, he felt the seats and said, "Wow, these seats are big!" The person next to him answered, "Everything is big in Texas."

When he finally arrived in Texas, he decided to visit a bar. Upon arriving in the bar, he ordered a beer and got a mug placed between his hands. He exclaimed, "Wow these mugs are big!" The bartender replied, "Everything is big in Texas."

After a couple of beers, the blind man asked the bartender where the bathroom was located. The bartender replied, "Second door to the right." The blind man headed for the bathroom, but accidentally stumbled and skipped the second door. Instead, he entered the third door, which lead to the swimming pool and fell into the pool by accident.

Scared to death, the blind man started shouting, "Don't flush, don't flush!"

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December Newsletter: Views You Can Use

Zach Dahl Virginia Home Loans (Ameritime Mortgage Company, LLC.) — Thu, 20 Dec 2007 08:45:39 -0600

Amstar Mortgage Corp - Newsletter

Zach Dahl

703-864-5257

NewsletterDecember 2007

Zach Dahl

Resource Center

Purchasing a Home?

Turn the home of your dreams into reality.
Need to Refinance?

Save money by taking advantage of the lowest rates available.
Consolidating Debt?

Use your home to help eliminate bad debt and bundle your bills into one easy monthly payment.
Apply Now!

Your loan approval is only minutes away when you apply online using one of our easy loan application options.
Recommended Professionals

Click here for direct access to our network of proven business professionals.

Real Estate Marketplace

Keswick, VA

6 Bed, 5.5 Bath

$849,900

Contact

Zach Dahl

Ameritime Mortgage Company, LLC.

Phone:703-864-5257

Fax:434-296-5625