Weekly Newsletter – 02-17-17

 

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FEATURED LOAN PROGRAMS

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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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“If your ship doesn’t come in, swim out to it”

– Anonymous

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WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS

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Weekly Mortgage Watch – February 16 2017

Weekly Mortgage Applications – 02-10-17

  • 30 Year Mortgage Rate decreased to 4.15% compare to 4.17% last week. The 30 year rock bottom rate touched in last 10 years is 3.53%
  • 15 Year Mortgage Rate decreased to 3.35% compared to 3.39% last week. The 15 year rock bottom rate touched in last 10 years is 2.77%
  • 5/1 Adjustable Rate Mortgage Rate decreased to 3.18% compared to 3.21% last week. The 5 year rock bottom rate touched in last 10 years is 2.64%
  • Rates are are still low. Purchase or Refinance before rates move up further.
  • Mortgage applications decreased 3.7 percent for the week ended February 10, 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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“Keep calm and radiate positivity”

– Anonymous

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HOUSING AND ECONOMIC DATA

Unemployment Rate and Initial Claims – December 2016

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  • Initial Claim in US is at 258,200 with a 6.8% decrease in December 2016 and Initial Claim in California is at 49,097 with a 5.6% decrease in December 2016
  • Unemployment rate in US is at 4.7% with a 6% decrease in December 2016 and Unemployment in California is at 5.2% with a 11.9% decrease in December 2016
  • Santa Rosa MSA has the highest decrease of unemployment rate from year ago at 16.4% in December 2016
  • Bakersfield MSA has the least decrease of unemployment rate from year ago with 4.8% change in December 2016
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US Homes Report – December 2016

Payroll and Unemployment – December 2016

  • Northeast had the highest averages in Existing Home Sales at 1.7% increase and South had a 0.7% percent increase in Existing Home Prices in December 2016
  • Existing home sales Months Supply was at 3.6 months supply reflecting 7.7% decrease from  month ago. Existing home sales Housing inventory decreased to 1,650,000 units reflecting 10.8% decrease from month ago
  • SFR Delinquency Rate this 3rd Quarter of 2016 is at 4.30% reflecting a 21.2% decrease from year ago, Mortgage Rate Reading for 2nd of February is 4.19% for 30 yr, 3.41% for 15  yr, 3.23% for 5 yr and Mortgage Applications decreased by 3.2% for the week ending January 27th of 2016
  • New privately owned housing units increased to 1,226,000 in December 2016 reflecting 5.7% increase from year ago. New one family houses sold in US decrease to 536,000 units with 0.4% decrease from year ago and Mean Sales Price of Existing Homes has decreased to $274,000 with 0.9% decrease from month ago
  • Industrial Production Index has increased to 104.5712 in December 2016 reflecting a 0.5% increase from year ago. All Employees Total Non-farm  has increased to 145,327 in December 2016 reflecting a 1.6% increase from year ago
  • Average Initial Claims in United States decreased to 258,200 in December 2016 reflecting a 6.8% decrease from year ago. The Average Initial Claims in California decreased to 49,097 in December 2016 reflecting a 5.6% decrease from year ago
  • Santa Rosa in California  had the highest drop in Unemployment Rate in December 2016 with 16.4% decrease from year ago. 10 Year Break even Inflation rate increased to 1.94% with 27.6% increase from year ago. The average hourly earning of all employees has increased to 25.97 dollars per hour with 2.8% increase in December 2016
  • Personal consumption expenditures has increased to $13,032.1 Bn in December 2016 with a 4.5% increase from year ago and Personal savings rate decreased to 5.4% in December 2016 reflecting a 11.5% decrease  from year ago
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“Be positive, patient and persistent”

– Anonymous

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FEATURED LOAN PROGRAM

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2 VA Loans

  • No requirement to close your currently outstanding VA loan
  • VA county limits, guidelines and eligibility apply
  • Minimum Fico 620
  • Manual and Automated underwriting OK
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5% – 10% Down Loan

Zero Down Loan – FHA

  • 5% down to county conforming limits.10% down to $975500.80/10/10 loans with no mi
  • First Loan limited to County Conforming limits
  • Second Loan not directly offered by Shining Star Funding.Maximum second loan $350000
  • 1 year return program available for self employment,wage earners,retired and rental income earners
  • 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

“Coming together is the beginning. Keeping together is progress. Working together…is success”

– Henry Ford

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WEEKLY NEWS UPDATE!

Santander U.S. Mortgage Data Shows Racial, Economic Discrimination: Group

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U.S. mortgage payments as a share of income just hit a 7-year high

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Mortgage lending is so tight, more people aren’t even bothering to apply

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Homes in these 10 markets are selling like hotcakes

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“Be so good they can’t ignore you”

– Steve Martin

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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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