Weekly Newsletter – 05-12-17

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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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“FEAR has two meanings – ‘Forget Everything And Run’ or ‘Face Everything And Rise’ The choice is yours”

– Anonymous

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WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS

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Weekly Mortgage Watch – May 11 2017

Weekly Mortgage Applications – 05-05-17

  • 30 Year Mortgage Rate increased to 4.05% compared to 4.02% last week. The 30 year rock bottom rate touched in last 10 years is 3.42%
  • 15 Year Mortgage Rate increased to 3.29% compared to 3.27% last week. The 15 year rock bottom rate touched in last 10 years is 2.61%
  • 5/1 Adjustable Rate Mortgage Rate increased to 3.14% compared to 3.13% last week. The 5 year rock bottom rate touched in last 10 years is 2.58%
  • Rates are are still low. Purchase or Refinance before rates move up further
  • Mortgage applications increased 2.4 percent for the week ended May 05, 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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“If you’re searching for that one person that will change your life, take a look in the mirror.”

– Anonymous

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HOUSING AND ECONOMIC DATA

Payroll and Unemployment – February 2017

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  • Industrial Production Index has increased to 103.5317 in February 2017 reflecting a 0.3% increase from year ago. All Employees Total Non-farm  has increased to 145,760 in February 2017 reflecting a 1.6% increase from year ago
  • Average Initial Claims in United States decreased to 239,750 in February 2017 reflecting a 10.4% decrease from year ago. The Average Initial Claims in California increased to 46,849 in February 2017 reflecting a 1.2% increase from year ago
  • Santa Rosa in California  had the highest drop in Unemployment Rate in February 2017 with 16.4% decrease from year ago. 10 Year Break even Inflation rate increased to 2.02% with 54.2% increase from year ago. The average hourly earning of all employees has increased to 26.09 dollars per hour with 2.8% increase in February 2017
  • Personal consumption expenditures has increased to $13,093.7 Bn in February 2017 with a 4.7% increase from year ago and Personal savings rate decreased to 5.7% in February 2017 reflecting a 5% decrease  from year ago
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Consumer Price Index – February 2017

Housing Starts – February 2017

  • San Francisco MSA leads the Primary House Rent index at 412.606 reflecting a 6.5% increase from year ago followed by Los Angeles at 342.343 reflecting a 5.2% increase from year ago. National index is at 304.211 reflecting a 3.9% increase from year ago
  • CPI for all items in San Francisco is highest at 271.626 with 3.4% increase from year ago compared to Los Angeles at 253.815 with 2.7% increase from year ago and National at 244.456 with a 2.8% increase from year ago
  • San Francisco MSA housing index leads at 319.808 with a 5.5% increase compared to Los Angeles at 285.754 with 4.7% increase and National at 248.693 with 3.2% increase from year ago
  • Share your comments on our Facebook page
  • 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 18,000 units in February 2017 with a 50% increase from year ago. Housing Starts Total: New Privately Owned housing units starts increased to 1,303,000 units with a 7.4% increase in February 2017 from year ago
  • Privately Owned Housing Starts 1 Unit Structures increased to 875,000 units with a 3.6% increase from year ago
  • Privately Owned Housing Starts 5 Unit Structures or More increased to 410,000 units with a 15.2% increase from year ago
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“The man on top of the mountain didn’t fall there.”

– Vince Lombardi

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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

“I found it is the small everyday deeds of ordinary fold that keep the darkness at bay. Small acts of kindness and love.”

– Gandolf

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WEEKLY NEWS UPDATE!

What Bubble? How China Stays In Control Of Its Wild Housing Market

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U.S. Housing: Going From Good To Great

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Good luck buying a home in this hot housing market

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Fed’s Rosengren warns that Fannie, Freddie reform could roil commercial real-estate market

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“There is only one thing required to change your life: willingness”

– 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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