Weekly Newsletter – 03-10-17

 

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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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“Sales – Go up and down. Service – Stays forever.”

– Anonymous

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WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS

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Weekly Mortgage Watch – March 09 2017

Weekly Mortgage Applications – 03-03-17

  • 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
  • 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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“If opportunity doesn’t knock, build a door.”

– Milton Bele

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HOUSING AND ECONOMIC DATA

Housing Starts – January 2017

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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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Freddie Mac Mortgage Rate Trend Actuals Vs Forecasts – January 2017

Freddie Mac Unemployment Rate – Consumer Prices – Real GDP – Actual and Forecasts – January 2017

  • 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
  • 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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“At first they’ll ask you why you’re doing it. Later, They’ll ask you how you did it.”

– Anonymous

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FEATURED LOAN PROGRAM

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Zero Down Loan – FHA

  • 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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1 Year Tax Verification

2 VA Loans

  • 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
  • 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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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

“If people like you they’ll listen to you, but if they trust you, they’ll do business with you”

– Zig Ziglar

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WEEKLY NEWS UPDATE!

More homeowners cashing in on their new housing wealth

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The Oracle of Omaha is selling. This time it’s real estate.

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City housing will lose $35M after Trump’s federal aid cuts

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2016 Originations Set Four-Year High

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“It’s not just about being better. It’s abot being different. You need to give people a reason to choose your business.”

– Tom Abbott

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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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