Weekly Newsletter – 04-07-17

 

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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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“Define success on your own terms, achieve it by your own rules, and build a life you’re proud to live”

– Anne Sweeney

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WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS

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Weekly Mortgage Watch – April 06 2017

Weekly Mortgage Applications – 03-31-17

  • 30 Year Mortgage Rate decreased to 4.10% compared to 4.14% last week. The 30 year rock bottom rate touched in last 10 years is 3.54%
  • 15 Year Mortgage Rate decreased to 3.36% compared to 3.39% last week. The 15 year rock bottom rate touched in last 10 years is 2.74%
  • 5/1 Adjustable Rate Mortgage Rate increased to 3.19% compared to 3.18% last week. The 5 year rock bottom rate touched in last 10 years is 2.65%
  • Rates are are still low. Purchase or Refinance before rates move up further
  • Mortgage applications decreased 1.6 percent for the week ended March 31, 2017
  • Mortgage apps move in the inverse direction of rates
  • The certainty of federal bank rate increase is pushing borrowers to avail the lower rates
  • Share your comments on our Facebook page!
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“Because you are alive, everything is possible.”

– Thich Nhat Hanh

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HOUSING AND ECONOMIC DATA

Unemployment Rate and Initial Claims – January 2017

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  • Initial Claim in US is at 256,000 with a 10% decrease in January 2017 and Initial Claim in California is at 55,168 with a 0.7% decrease in January 2017
  • Unemployment rate in US is at 4.8% with a 2% decrease in January 2017 and Unemployment in California is at 5.1% with a 10.5% decrease in January 2017
  • Santa Rosa MSA has the highest decrease of unemployment rate from year ago at 16.4% in January 2017
  • Bakersfield MSA has the least decrease of unemployment rate from year ago with 2.8% change in January 2017
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Freddie Mac Mortgage Rate Trend Actuals Vs Forecasts – February 2017

Freddie Mac Unemployment Rate – Consumer Prices – Real GDP – Actual and Forecasts – February 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 decreased to 1.9% in Q4 of 2016. 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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“Be fearless in the pursuit of what sets your soul on fire.”

– Anonymous

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FEATURED LOAN PROGRAM

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Remove Mortgage Insurance

  • 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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Jumbo Loan

Zero Down Loan – FHA

  • 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
  • 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

“You are far too smart to be the only thing standing in your way.”

– Anonymous

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WEEKLY NEWS UPDATE!

How to find a starter home in a hot housing market

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Mortgage applications stay flat even as rates drop to lowest in three weeks

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A Warning Sign For Business Owners Looking For A Mortgage

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Housing Boom Is Anything But as Ownership Loses Appeal

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“If you don’t build your dream someone else will hire you to help them build theirs.”

– 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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