Weekly Newsletter – 02-10-17

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FEATURED LOAN PROGRAM

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203K Renovation Loans

True Grant

  • The FHA 203K Renovation loan allows a buyer to purchase (or refinance) and renovate a property with one loan and one closing.

  • With one loan, there is only one application, one set of fees, one closing and one monthly payment.

  • Improvements can include anything that adds value to the home, such as room addition, new carpeting, landscaping, plumbing, roofing or a new kitchen.

  • The loan can also be used for energy-efficiency improvements.

  • Zero interest never to be returned

  • Available for Conventional and FHA loans

  • Minimum Credit Score FHA 620 ; Conventional 640

  • Maximum Debt to Income 45%. Subject to Underwriter approval.

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“There will be obstacles, there will be doubters, there will be mistakes, but with hard work, there are no limits.”

– Anonymous

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WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS

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Weekly Mortgage Watch – February 09 2017

Weekly Mortgage Applications – 02-03-17

  • 30 Year Mortgage Rate decreased to 4.17% compare to 4.19% last week. The 30 year rock bottom rate touched in last 10 years is 3.53%
  • 15 Year Mortgage Rate decreased to 3.39% compared to 3.41% last week. The 15 year rock bottom rate touched in last 10 years is 2.77%
  • 5/1 Adjustable Rate Mortgage Rate decreased to 3.21% compared to 3.23% last week. The 5 year rock bottom rate touched in last 10 years is 2.63%
  • Rates are are still low. Purchase or Refinance before rates move up further.
  • Mortgage applications increased 2.3 percent for the week ended February 03, 2017
  • Mortgage apps move in the inverse direction of rates
  • Rates have generally moved upwards due to money being sucked in to the stock market
  • Share your comments on our Facebook page!
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“Motivated by the fear of being average.”

– Anonymous

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HOUSING AND ECONOMIC DATA

US Homes Sales Report – December 2016

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  • Number of units of existing home sales for month of December 2016 is at 5,490,000 and is at a 2.8% decrease compared to last month
  • West census region is at 1,200,000 number of units and is at a 4.8% decrease for December 2016 compared to last month. Midwest census region for December 2016 is at 1,280,000 number of units , a 3.8% decrease compared to last month
  • South census region of December 2016 is at 2,250,000 number of units and is as the same percentage from month ago
  • Northeast census region of December 2016 is at 60,000 number of units and is 1.7% higher than last month
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US Homes Prices Report – December 2016

Housing Starts – December 2016

  • Median Sales Price of Existing Homes in US decreased to $232,200 with a 0.9% decrease from month ago
  • Median Sales Price in West decreased to $341,000 with a 1.7% decrease in December 2016 compared to last month
  • Midwest median sales price decreased to $178,400 with a 1.1% decrease compared to last month and South is at $207,600 reflecting a 0.7% increase from month ago
  • Northeast median sales price has decreased to $245,900 reflecting a 6.4% decrease from month ago
  • New privately owned housing unit starts increased to 207,000 units with 2.0% percent change from year ago  in Q3 of 2016
  • Housing Starts:2-4 Units is at 14,000 units in December 2016 with a 17.6% decrease from year ago. Housing Starts Total: New   Privately Owned housing units starts decreased to 1,226,000 units with a 5.7% increase in December 2016 from year ago
  • Privately Owned Housing Starts 1 Unit Structures increased to 795,000 units with a 3.9% increase from year ago
  • Privately Owned Housing Starts 5 Unit Structures or More increased to 417,000 units with a 10.3% increase from year ago
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“Do it with passion or not at all.”

– Anonymous

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FEATURED LOAN PROGRAM

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Jumbo Loan

  • With a jumbo mortgage, you’ll get low rates for your jumbo loan
  • Loan amounts as low as $300000 and upto $2.5Mn. Back end ratios to 49.99%
  • Asset Depletion program.We can use estimated income  based on assets in hand
  • Projected income from future job.We can use income from future accepted offer
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Remove Mortgage Insurance

Zero Down Loan – FHA

  • Single loan to 95% with no mortgage insurance (with lender paid mortgage insurance)
  • Break up your loan for 80% first and 10% second and save MI.Refinances and Purchases OK
  • Refinance to 80% and get rid of MI
  • Automated underwriting only
  • DPA is a true gift with no repayment.Upto 5% of Purchase Price.DPA not directly offered by Shining Star Funding
  • DPA is only for down payment and closing costs.No cash back allowed
  • Conventional,FHA Loans and VA Loans.Maximum Loan amount $417000
  • Not limited to first time home buyers
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Quick Turnaround and Closing

With inhouse underwriting and funding. Call me and let’s make it happen!
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SCHEDULE A LOAN OFFICER PHONE CALL
FILL OUT THIS SHORT APPLICATION FORM NOW

“Do what you have to do until you can do what you want to do.”

– Oprah Winfrey

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WEEKLY NEWS UPDATE!

Zillow Finds New Ways To Stay Atop Heap In Online Real Estate

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Fed puts more emphasis on commercial real estate in 2017 stress test

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Connection Between Tax Refunds and Mortgage Delinquencies

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Realtors ask Trump to reinstate FHA mortgage insurance premium cut

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“Today I will do what others won’t, so tomorrow I can do what others can’t”

– Anonymous

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OTHER NICHE LOAN PROGRAMS

Product Loan And Niches

Niche Loan Programs

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  • Conventional Loan
  • FHA Loans
  • 100% VA Loans
  • Jumbo Loans
  • Zero Down Loan
  • 2 VA Loans
  • 1 Year Tax Verification
  • Remove Mortgage Insurance
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Second Opinion Doesn’t Hurt!

Talk to me today about your scenario and let me help you find the perfect solution for you!
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SCHEDULE A LOAN OFFICER PHONE CALL
FILL OUT THIS SHORT APPLICATION FORM NOW
 

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ABOUT US AND CONTACT US

About Shining Star Funding

Telephone: 925 820 2981

Toll Free:     866 280 0020

Email:          [email protected]

 

 

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