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- 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.
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- 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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– Anonymous

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WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS
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- 30 Year Mortgage Rate increased to 4.21% compared to 4.1% last week. The 30 year rock bottom rate touched in last 10 years is 3.52%
- 15 Year Mortgage Rate increased to 3.42% compared to 3.32% last week. The 15 year rock bottom rate touched in last 10 years is 2.76%
- 5/1 Adjustable Rate Mortgage Rate increased to 3.23% compared to 3.14% 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
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- Mortgage applications increased 3.3 percent for the week ended March 03, 2017
- Mortgage apps move in the inverse direction of rates
- The certainty of federal bank rate increase is pushing more borrowers to avail the lower rates
- Share your comments on our Facebook page!
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– Milton Bele

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HOUSING AND ECONOMIC DATA
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- New privately owned housing unit starts increased to 187,000 units with 12.7% percent change from year ago in Q4 of 2016
- Housing Starts:2-4 Units is at 2,000 units in January 2017 with a 88.9% decrease from year ago. Housing Starts Total: New Privately Owned housing units starts increased to 1,246,000 units with a 10.5% increase in January 2017 from year ago
- Privately Owned Housing Starts 1 Unit Structures increased to 823,000 units with a 6.2% increase from year ago
- Privately Owned Housing Starts 5 Unit Structures or More increased to 421,000 units with a 25.7% increase from year ago
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- 30 year Fixed Mortgage Rate decreased to 3.7% in 2016 compared to 3.9% last 2015. Forecast for 1st quarter of 2017 is 4.3% and will increase to 4.5% in 4th quarter of 2017
- 10 year Const. Mat. Treas Rate decreased to 1.9% in 2016 compared to 2.2% last 2015. Forecast for 1st quarter of 2017 will be 2.5% and will increase to 2.7% in last quarter of 2017
- 5/1 year Hybrid Treas Indexed ARM Rate is 2.9% 2016. Forecast for 1st quarter of 2017 will increase be 3.4% and will increase to 3.8% in last quarter of 2017
- Share your comments on our Facebook page
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- Actual unemployment is at 4.7% in Q4 of 2016. Forecast unemployment rate for 1st quarter of 2017 will be 4.8% and will decrease to 4.7% in the last quarter of 2017
- CPI increased to 3.4% in Q4 of 2016. Forecast for 1st quarter of 2017 will be 2.4% down to 2.2% in the last quarter
- Real GDP increased to 3.5% in Q3 of 2016. Real GDP Forecast in 4th Quarter of 2016 will increase to 2.1%. Forecast for 1st quarter of 2017 is 1.9% and will increase to 2.2% in the last quarter
- Share your comments on our Facebook page
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– Anonymous

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FEATURED LOAN PROGRAM
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- 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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- Easy 1 year income verification for Self Employed borrowers
- First loan up to $625,500.Second Loan upto $350000.Combined 90% financing without MI
- Family Members can cosign for borrower.Co signor need not occupy home
- Subject to automated underwriting only.Second loan not directly offered by Shining Star Funding
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- 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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With inhouse underwriting and funding. Call me and let’s make it happen! |
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– Zig Ziglar

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– Tom Abbott

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OTHER NICHE LOAN PROGRAMS
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- Conventional Loan
- FHA Loans
- 100% VA Loans
- Jumbo Loans
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- Zero Down Loan
- 2 VA Loans
- 1 Year Tax Verification
- Remove Mortgage Insurance
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Talk to me today about your scenario and let me help you find the perfect solution for you! |
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