Weekly Newsletter – 05-26-17

 

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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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“The biggest adventure you can ever take is to live the life of your dreams.”

– Oprah Winfrey

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WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS

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Weekly Mortgage Watch – May 25 2017

Weekly Mortgage Applications – 05-19-17

  • 30 Year Mortgage Rate decreased to 3.95% compared to 4.02% last week. The 30 year rock bottom rate touched in last 10 years is 3.59%
  • 15 Year Mortgage Rate decreased to 3.19% compared to 3.27% last week. The 15 year rock bottom rate touched in last 10 years is 2.77%
  • 5/1 Adjustable Rate Mortgage Rate decreased to 3.07% compared to 3.13% last week. The 5 year rock bottom rate touched in last 10 years is 2.63%
  • Rates are are still low. Purchase or Refinance before rates move up further
  • Mortgage applications increased 4.4 percent for the week ended May 19, 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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“Only dead fish go with the flow.”

– Anonymous

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HOUSING AND ECONOMIC DATA

Consumer Price Index – March 2017

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  • San Francisco MSA leads the Primary House Rent index at 413.119 reflecting a 6.6% increase from year ago followed by Los Angeles at 343.624 reflecting a 5.0% increase from year ago. National index is at 304.868 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 254.525 with 2.7% increase from year ago and National at 243.752 with a 2.4% increase from year ago
  • San Francisco MSA housing index leads at 319.808 with a 5.5% increase compared to Los Angeles at 285.975 with 4.2% increase and National at 248.978 with 3.1% increase from year ago
  • Share your comments on our Facebook page
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US Homes Sales Report – March 2017

US Homes Prices Report – March 2017

  • Number of units of existing home sales for month of March 2017 is at 5,710,000 and is at a 4.4% increase compared to last month
  • West census region is at 1,220,000 number of units and is at a 1.6% decrease for March 2017 compared to last month. Midwest census region for March 2017 is at 1,310,000 number of units , a 9.2% increase compared to last month
  • South census region of March 2017 is at 2,420,000 number of units and is 3.4% increase from month ago
  • Northeast census region of March 2017 is at 56,000 number of units and is 47.4% higher than last month
  • Median Sales Price of Existing Homes in US increased to $236,400 with a 3.6% increase from month ago
  • Median Sales Price in West increased to $347,500 with a 2.7% increase in March 2017 compared to last month
  • Midwest median sales price increased to $183,000 with a 6.6% increase compared to last month and South is at $210,600 reflecting a 2.8% increase from month ago
  • Northeast median sales price has increased to $260,800 reflecting a 4.3% increase from month ago
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“I will face whatever comes today with a positive attitude.”

– 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

“Your mind is a powerful thing. When you fill it with positive thoughts, your life will start to change.”

– Anonymous

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WEEKLY NEWS UPDATE!

FOREIGN BUYERS, IMMIGRANTS EXPECTED TO HELP DRIVE HOUSING MARKET

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Free up cash: 3 reasons to pay off your mortgage early

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Big drop in mortgage rates juices refinances, but doesn’t seduce buyers

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Mortgage rates swing below 4% as investors flee risky assets

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“It’s funny how day by day, nothing changes. But when you look back, everything is different.”

– 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
 

USEFUL LINKS

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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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