Weekly Newsletter – 03-17-17

 

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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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“You can’t have a million dollar dream with a minimum wage work ethic.”

– Anonymous

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WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS

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Weekly Mortgage Watch – March 16 2017

Weekly Mortgage Applications – 03-10-17

  • 30 Year Mortgage Rate increased to 4.30% compared to 4.21% last week. The 30 year rock bottom rate touched in last 10 years is 3.63%
  • 15 Year Mortgage Rate increased to 3.50% compared to 3.42% last week. The 15 year rock bottom rate touched in last 10 years is 2.79%
  • 5/1 Adjustable Rate Mortgage Rate increased to 3.28% compared to 3.23% last week. The 5 year rock bottom rate touched in last 10 years is 2.61%
  • Rates are are still low. Purchase or Refinance before rates move up further
  • Mortgage applications increased 3.1 percent for the week ended March 10, 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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“A satisfied customer is the best business strategy of all.”

– Michael LeBoeuf

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HOUSING AND ECONOMIC DATA

Freddie Mac Housing Starts – Home Sales – House Price Appreciation – Home Price Index – Actual and Forecasts – January 2017

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  • Housing Starts actual is at 1.22 Mn in Q4 of 2016. Forecast for 1st quarter of 2017 is 1.22 Mn going up to 1.30 Mn in last quarter of 2017
  • Total Home Sales increased to 5.97Mn  in Q3 of 2016. Forecast for 4th quarter of 2016 is expected to be 6.00 Mn. Total Home sales forecast for 2017 is at 5.70 Mn in 1st quarter and up to 5.80 Mn in the last quarter
  • FMHPI house price appreciation is at 1.6% in Q3 of 2016. Forecast for 4th quarter of 2016 is at 1.2%. House price appreciation forecast for 2017 is at 1.2% in the 1st quarter and 1.0% in the last quarter
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Freddie Mac 1-4 Family Mortgage Origination – Conventional – FHA and VA – Actual and Forecasts – January 2017

Freddie Mac Percentages – ARM – Refinancing Applications and Origination – Refinancing Debt – Actual Vs Forecast – January 2017

  • Mortgage origination Conventional loans increased to $1,344 Bn in 2015 compared to $1,091 Bn in 2014. Forecast for 1st quarter of 2016 is $290 Bn and will increase to $396 Bn in last quarter of 2016. Forecase for 2017 will range from $230 Bn to $329 Bn
  • Mortgage origination for FHA and VA increased to $131 Bn in 3rd quarter of 2016 compared to $113 Bn in the 2nd quarter. Forecast for 4th quarter of 2016 is at $94 Bn. Forecast for 1st quarter of 2017 will be $95 Bn and last quarter of 2017 will be $84 Bn
  • Mortgage origination Total increased to $1,750 Bn in 2014 compared to $1,350 Bn in 2013.  Forecast for 1st quarter of 2016 is $385 Bn and  upto $490 Bn in the last quarter. Forecase for 2017 will range from $325 Bn to $430 Bn for each quarter
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  • Refinancing Share Origination actual is at 45% in 2015. Forecast for 1st quarter of 2016 increased to 51%.The forecast for refinancing share origination is projected to fall from 51% in 1st quarter of 2016 to 21% in the last quarter of 2017
  • Change in Residential Mortgage Debt is 3.7% in 3rd quarter of 2016. Forecast from 4th quarter of 2016 to last quarter 2017 will range between 3.7% to 4.3%
  • Share your comments on our Facebook page!
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“The best investment? Yourself.”

– Anonymous

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FEATURED LOAN PROGRAM

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1 Year Tax Verification

  • 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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5% – 10% Down Loan

Remove Mortgage Insurance

  • 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
  • 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
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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

“Those who say it can not be done should not interrupt those doing it”

– Chinese Proverb

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WEEKLY NEWS UPDATE!

2 Ways the Fed Could Crush the Housing Market Recovery

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Concerns about riskier mortgages are sprouting

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What a Fed rate hike means for you

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Why It’s Now An Empty Nesters’ Housing Market

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“A mediocre idea that generates enthusiasm will go farther than a great idea that inspires no one.”

– Mary Kay Ash

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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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