Weekly Newsletter – 05-05-17

 

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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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“It always seems impossible until it is done.”

– Nelson Mandela

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WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS

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Weekly Mortgage Watch – May 04 2017

Weekly Mortgage Applications – 04-28-17

  • 30 Year Mortgage Rate decreased to 4.02% compared to 4.03% last week. The 30 year rock bottom rate touched in last 10 years is 3.35%
  • 15 Year Mortgage Rate remain at 3.27%. The 15 year rock bottom rate touched in last 10 years is 2.56%
  • 5/1 Adjustable Rate Mortgage Rate increased to 3.13% compared to 3.12% last week. The 5 year rock bottom rate touched in last 10 years is 2.56%
  • Rates are are still low. Purchase or Refinance before rates move up further
  • Mortgage applications decreased 0.1 percent for the week ended April 28, 2017
  • Mortgage apps move in the inverse direction of rates
  • Rates are still low so better apply for mortgage now.
  • Share your comments on our Facebook page!
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“Be strong, you never know who you are inspiring”

– Anonymous

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HOUSING AND ECONOMIC DATA

US Homes Sales Report – February 2017

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  • Number of units of existing home sales for month of February 2017 is at 5,470,000 and is at a 3.9% decrease compared to last month
  • West census region is at 1,240,000 number of units and is at a 3.9% decrease for February 2017 compared to last month. Midwest census region for February 2017 is at 1,200,000 number of units , a 7.0% decrease compared to last month
  • South census region of February 2017 is at 2,340,000 number of units and is 1.3% increase from month ago
  • Northeast census region of February 2017 is at 38,000 number of units and is 9.5% lower than last month
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Economic Indicators – January 2017

Unemployment Rate and Initial Claims – February 2017

  • Homeownership Rate for US is 63.7% in January 2015, lowest in last 11 years. US Leading Index is at 1.767% in January 2017 reflecting a 22.2% increase compared to last year and California Leading Index is at 2.13% in January 2017 reflecting a 17.0% increase from year ago
  • Major Currencies US dollar index has increased in strength to 108.21 in January 2017 reflecting a 0.4% increase from year ago. Gold Fixing Price London Bullion Market Based in US Dollars increased to 1192.617 in January 2017 reflecting a 8.7% increase from year ago
  • Crude Oil prices increase to 54.56 Dollars in January 2017 reflecting a 71.2% increase from year ago. Federal Deficit was at  -3.16338% in January 2016 reflecting a 30.1% increase from year ago. Total Vehicles sales decreased to 17.9 Million in January 2017 reflecting an 1.6% decrease from year ago
  • Mortgage backed securities for all maturities is $1,744,581 Mn in January 2017 reflecting a 0.3% decrease from year ago. Real Gross Domestic Product has increased to 16813.3 Bn Dollars with 2.0% increase from year ago. Federal Debt has increased to 105.8689 percent of the GDP with 2.0% increase from year ago
  • Initial Claim in US is at 239,750 with a 10.4% decrease in February 2017 and Initial Claim in California is at 46,849 with a 1.2% increase in February 2017
  • Unemployment rate in US is at 4.7% with a 4.1% decrease in February 2017 and Unemployment in California is at 5.0% with a 10.7% decrease in February 2017
  • Santa Rosa MSA has the highest decrease of unemployment rate from year ago at 16.4% in February 2017
  • Visalia MSA has the least decrease of unemployment rate from year ago with 1.9% change in February 2017
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“Old ways won’t open new doors.”

– Anonymous

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FEATURED LOAN PROGRAM

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Zero Down Loan

  • 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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Remove Mortgage Insurance

Jumbo Loan

  • 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
  • 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
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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 it doesn’t challenge you, it won’t change you.”

– Anonymous

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WEEKLY NEWS UPDATE!

Supreme Court says cities can sue big banks over housing bubble damages

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These 5 Trends Will Shape the Housing Market in 2017

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The 20 most profitable housing markets this year

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A simple trick could save you thousands of dollars on your mortgage payment

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“I live for what I haven’t done”

– Donna Karan

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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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