Weekly Newsletter – 04-14-17

 

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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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“Be thankful for the hard times, for they have made you”

– Leonardo Wilhelm DiCaprio

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WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS

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Weekly Mortgage Watch – April 13 2017

Weekly Mortgage Applications – 04-07-17

  • 30 Year Mortgage Rate decreased to 4.08% compared to 4.10% last week. The 30 year rock bottom rate touched in last 10 years is 3.43%
  • 15 Year Mortgage Rate decreased to 3.34% compared to 3.36% last week. The 15 year rock bottom rate touched in last 10 years is 2.65%
  • 5/1 Adjustable Rate Mortgage Rate decreased to 3.18% compared to 3.19% last week. The 5 year rock bottom rate touched in last 10 years is 2.62%
  • Rates are are still low. Purchase or Refinance before rates move up further
  • Mortgage applications increased 1.5 percent for the week ended April 07, 2017
  • Mortgage apps move in the inverse direction of rates
  • Drop in rates in the last few weeks has impacted mortgage applications positively
  • Share your comments on our Facebook page!
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“Little girls with dreams become women with vision.”

– Anonymous

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HOUSING AND ECONOMIC DATA

Freddie Mac Housing Starts – Home Sales – House Price Appreciation – Home Price Index – Actual and Forecasts – February 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 6.14Mn  in Q4 of 2016. Total Home sales forecast for 2017 is at 6.10 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 1.8%. House price appreciation forecast for 2017 is at 1.4% 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 – February 2017

Freddie Mac Percentages – ARM – Refinancing Applications and Origination – Refinancing Debt – Actual Vs Forecast – February 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 $295 Bn and will increase to $458 Bn in last quarter of 2016. Forecase for 2017 will range from $238 Bn to $341 Bn
  • Mortgage origination for FHA and VA decreased to $132 Bn in 4th quarter of 2016 compared to $134 Bn in the 3rd quarter. Forecast for 1st quarter of 2017 will be $97 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 $390 Bn and  upto $590 Bn in the last quarter. Forecase for 2017 will range from $335 Bn to $443 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%
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“Love is the bread of life, you have to make it everyday if you want it fresh.”

– 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 $636,150.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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2 VA Loans

5% – 10% Down Loan

  • No requirement to close your currently outstanding VA loan
  • VA county limits, guidelines and eligibility apply
  • Minimum Fico 620
  • Manual and Automated underwriting OK
  • 5% down to county conforming limits.10% down to $986,650. 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 $350,000
  • 1 year return program available for self employment,wage earners,retired and rental income earners
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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

“Life is either a daring adventure or nothing.”

– Helen Keller

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WEEKLY NEWS UPDATE!

MBA: Despite flat mortgage apps, purchase loan size reaches new high

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Mortgage rates tumble to fresh 2017 low

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Homes this spring are selling faster than ever

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Mortgage applications rise 1.5 percent, as interest rates fall to 2017 low

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“Train your mind to see the good in every situation.”

– 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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