Inside This Issue
Rates at All Time Low 1
Appraiser’s Notes 2
Selling a Home 2
Canton Street Mortgage’s Chili Cook-Off Contest 3
At Canton Street Mortgage, personalized Homestead Exemption Information 4
service is the key to our success!
- Jan Wagner, President Canton Street Mortgage Ranked a TOP 10
Mortgage Broker in Georgia!
Ranking by the Georgia Association of Mortgage Brokers.
MORTGAGE INTEREST RATES AT ALL TIME LOWS...SHOULD YOU REFINANCE?
We continue to see market volatility on equity for home improvements, your
a daily basis, but mortgage interest $208.33 per month . kids’ college tuition, debt consolidation,
rates for conforming loans ($417,000 As a rule of thumb, if the cost of or some other reason, now may be a
or below) are at levels most of us have refinancing can be recouped in a 12-24 perfect time to consider refinancing.
never seen. month period, acting now is probably a
good decision. If the recoup time is You may have heard that guidelines
If you or someone you know is in the longer, give us a call so that we can have become more restrictive. There is
market to buy or refinance a home, we analyze your situation and plan a some truth to this. Low doc loans and
would suggest calling Canton Street course of action based on your goals. more exotic programs are almost
Mortgage to discuss your particular nonexistent in the marketplace.
scenario. Although rates could drop a If you still have an adjustable rate However, money is still available for
little further, in our estimation many of mortgage or interest only loan, now is a those with good credit who can
our current mortgage clients could now good time to seriously consider document their income and have
reduce their interest rate by 1%-1.5%. refinancing into a fixed rate mortgage sufficient equity to meet lender
To give some perspective, each since no one can guarantee the future requirements.
percentage point dropped reduces the direction of rates. Chances are good
interest cost on a $100,000 balance by that given current interest rates, you Please let us know if you have
$1,000 per year. For example, let's say could convert to a fixed rate loan at a questions or feedback. Also, please
you have a $200,000 mortgage and rate comparable to your present ARM. keep Canton Street Mortgage in mind
can shave 1.25% off of your current for your friends, family and business
Additionally, if you are in a position associates' needs - we are always
interest rate. Your savings would where you have equity in your home
equate to $2,500 per year or grateful for your referrals! We promise
and foresee a need to access that to work hard and make you proud that
"When interest rates fall sharply, we tend to see more
borrowers go for a simple rate-and-term 'refi' that
lowers their payment or lets them keep their payment
about the same but shorten the maturity of their
-Frank Nothaft, Freddie Mac vice president and chief economist
Valuing homes in today's market brings of what your home is worth. When the
about many challenges for appraisers. appraiser comes out, give him or her
As most everyone knows, the market a list of recent improvements that you
today is, for the most part, in decline. have made to your home. If you are
Property values appear to be doing home improvement projects,
decreasing due to an oversupply of make sure they are complete before
homes in the marketplace. This the appraiser arrives. Try to make
oversupply appears to be placing a sure the improvements you do will your neighborhood to appraise your
downward pressure on home prices. give you the most bang for your buck. home. Always remember the market
Foreclosures are also having a Be careful not to over-improve for dictates the value to the appraiser.
negative effect on values. your neighborhood.
A special thanks to Tim Densmore,
As a homeowner, it can help you in The appraiser must use the most Reliable Appraisal, for this contributing
these times to know your marketplace updated information regarding recent article.
and not have unrealistic expectations home sales and days on market in
Five Ways to Pay Off Your Mortgage Loan Faster
1. Refinance at a lower interest rate, but pay the same amount as
Thinking About you were paying with your previous higher rate.
Despite what we hear from the media, 2. Make one extra payment per year by adding 1/12 of your monthly
homes on the market are selling. If you are payment amount to your monthly payments. Example: monthly
considering selling your home there are payment is $1k ; $1,000/12 = $83.33; pay $1,083.33/month.
some important tips that you should know.
3. Refinance to a lower term (15 yr or 20 yr) with a lower rate.
Working with the right Realtor can be key to
4. Increase your payments. If your financial situation allows, make
the success of selling your home. A Realtor
should be forthright and honest with you. higher payments when you can, which will be applied to your
This includes performing walk throughs of principle.
your home and addressing items that need 5. Pay bi-monthly which will add one extra payment per year.
attention, before it goes on the market. Example: $1k monthly payment would be $500 bi-weekly. $500 x
Focus on the basics including curb appeal of
26 bi-weekly payments = $13,000/year vs. $12,000/year.
your home. First
to opening the
door for more
The first thirty
DID YOU KNOW…
days on the
market are the Canton Street Mortgage’s Jan Wagner is 1 of
most critical. only 12 Mortgage Brokers in the state of
Georgia that is CRMS® certified by the National
Setting the right list price and marketing of Association of Mortgage Brokers (NAMB).
your house will expedite the sale of your
home. Again, the knowledge and experience
a Realtor has plays a key role in assisting CRMS certification signifies a leader within the
you with setting the list price for your home. industry who has mastered the knowledge of the principles and
A Realtor should use multiple channels to practices of the mortgage profession.
market your house including presentation
Jan Wagner, Canton Street Mortgage President, Awarded Broker of the Year
By The Georgia Association of Mortgage Brokers
Each year, the Georgia Association of Mortgage in the industry, and adhere to the GAMB Code of
Brokers recognizes a few of its outstanding Ethics. This individual has the respect of both
members by presenting awards to the individuals peers and customer base. Canton Street
who best exemplify the finest standards and Mortgage’s Jan Wagner was awarded Broker of
accomplishments. the Year by the Georgia Association of Mortgage
The individual must show proficiency as a mortgage Brokers (GAMB).
broker as demonstrated by their success in the The award was presented at the GAMB Awards
mortgage brokerage industry through their Luncheon on January 15th. Jan is truly
outstanding participation and profile within the dedicated to her clients, employees, business
industry. They must have a broad breadth of scope partners and the community. Please join us in
of product and experience, a high level of expertise Jan Wagner,
Broker of the Year
JD Crowe Joins the Canton Street Mortgage Team
Canton Street Mortgage is proud to Committee (GMBPAC) board since 2005 and
welcome JD Crowe as our newest has been very active in the GAMB Legislative
Mortgage Consultant. committee. J.D.’s involvement has aided
J.D. is a past president of these groups in making tremendous strides
the Georgia Association in strengthening relationships with state and Roswell’s Alive After 5
of Mortgage Brokers national officials to ensure that Mortgage
(GAMB) and a member of Brokers’ and small business interests are Thursday April 16th
the Board of Directors for considered before passing any new Mark your calendars for Thursday
the Georgia Real Estate legislation or regulation. April 16th for the kick off of
Fraud Prevention and As a member of the GAMB, JD ranked as Roswell’s Alive After 5 2009
Awareness Coalition (GREFPAC). JD one of the Top Gun individual and company season!
served on the GAMB board of directors producers every year, as well as, 2007
from 2003 through 2008, the Georgia Broker of the Year. He was recently
Canton Street Mortgage is hosting
Mortgage Brokers Political Action awarded GAMB Volunteer of the Year 2008. it’s first Chili Cook-off Contest
during the April Alive After 5.
Canton Street employees will
A SPECIAL THANK YOU TO OUR TERRIFIC CLIENTS… compete against each other for
OUR SUCCESS IS BECAUSE OF YOU!!! bragging
Meet the Canton Street Mortgage Team trophy)
MORTGAGE CONSULTANTS We welcome,
Jan Wagner, President clients,
JD Crowe Lori Kirn our vendors to join in the
Sue Ann Guthman Tweedie Griswold competition. Please contact Jane
Shachi Bhardwaj Paige Seibert at Canton Street Mortgage, 770-
Shawn Stufflebeam Marie Furmanski 643-7855, by April 3rd if you
would like to compete in the
LOAN PROCESSORS contest. If you prefer tasting, stop
Jessica Jackson Cindy Sexton Tara Robertson by to taste and vote for your
Jane Sanderson, Marketing While enjoying some Chili, kick
back and listen to our favorite
Tyler Wagner, Compliance
band, Stranger Than You.
Canton Street Mortgage Corporation
1116 Canton Street
Roswell, GA 30075
Jan Wagner, CRMS
Ranked Top 10
Mortgage Broker in Georgia
2008 Atlanta Business Chronicle &
Georgia Association of Mortgage Brokers
Visit Us on the Web!
Don’t forget about your TAX BILL and HOMESTEAD EXEMPTION!
Tax Bill Information Homestead Exemption
Fulton County Cobb County Fulton County Cobb County
Mailed in July Mailed in August April 1st deadline April 1st deadline
www.fultoncountytaxes.org www.cobbtax.org www.co.fulton.ga.us www.cobbassessor.org
404-730-6100 770-528-8600 404-224-0102 770-528-3100
Gwinnett County Dekalb County Cherokee County
Dekalb County March 1st deadline April 1st deadline
Mailed in July Mailed in July
404-298-4000 Forsyth County Gwinnett County
Cherokee County April 1st deadline March 1st deadline
Forsyth County Mailed in October www.forsythco.com www.co.gwinnett.ga.us
Mailed in September www.taxassessor.cherokeega.com/ 770-781-2110 770-822-8800
If you purchased a new home this year, it is possible that your bill will be forwarded
on to the pervious owner. If you do not get your tax bill on the above mentioned
date, we advise you to go online to obtain a copy of your bill. Once you have a copy
You will need a copy of your warranty deed, your driver’s license,
of your bill, send a copy to your lender and make certain it is paid on time!
your license plate number, and your social security number.
We advise you to forward a copy of your tax bill to your mortgage lender every year. Most counties have a deadline of March 1st or April 1st to receive
credit for the current year.
GA Residential License # 16204