Weekly Newsletter – 06-02-17

 

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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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“Decide. Commit. Succeed.”

– Anonymous

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WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS

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Weekly Mortgage Watch – June 01 2017

Weekly Mortgage Applications – 05-26-17

  • 30 Year Mortgage Rate decreased to 3.94% compared to 3.95% last week. The 30 year rock bottom rate touched in last 10 years is 3.75%
  • 15 Year Mortgage Rate is at 3.19% since last week. The 15 year rock bottom rate touched in last 10 years is 2.97%
  • 5/1 Adjustable Rate Mortgage Rate increased to 3.11% compared to 3.07% last week. The 5 year rock bottom rate touched in last 10 years is 2.66%
  • Rates are are still low. Purchase or Refinance before rates move up further
  • Mortgage applications decreased 3.4 percent for the week ended May 26, 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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“You will never regret reaching your goal. You will only regret giving up and not trying harder.”

– Anonymous

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HOUSING AND ECONOMIC DATA

Housing Starts – March 2017

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  • 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 8,000 units in March 2017 with a 20% decrease from year ago. Housing Starts Total: New Privately Owned housing units starts increased to 1,203,000 units with a 6.6% increase in March 2017 from year ago
  • Privately Owned Housing Starts 1 Unit Structures increased to 832,000 units with a 11.2% increase from year ago
  • Privately Owned Housing Starts 5 Unit Structures or More decreased to 363,000 units with a 1.9% decrease from year ago
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Unemployment Rate and Initial Claims – March 2017

Payroll and Unemployment – March 2017

  • Initial Claim in US is at 254,500 with a 5% decrease in March 2017 and Initial Claim in California is at 43,645 with a 2.7% decrease in March 2017
  • Unemployment rate in US is at 4.5% with a 10% decrease in March 2017 and Unemployment in California is at 4.9% with a 12.5% decrease in March 2017
  • Santa Rosa MSA has the highest decrease of unemployment rate from year ago at 16.4% in March 2017
  • Visalia MSA has the least decrease of unemployment rate from year ago with 3.6% change in March 2017
  • Industrial Production Index has increased to 104.1015 in March 2017 reflecting a 1.5% increase from year ago. All Employees Total Non-farm  has increased to 145,852 in March 2017 reflecting a 1.5% increase from year ago
  • Average Initial Claims in United States decreased to 254,500 in March 2017 reflecting a 5% decrease from year ago. The Average Initial Claims in California decreased to 43,645 in March 2017 reflecting a 2.7% decrease from year ago
  • Santa Rosa in California  had the highest drop in Unemployment Rate in March 2017 with 16.4% decrease from year ago. 10 Year Break even Inflation rate increased to 2.00% with 29.0% increase from year ago. The average hourly earning of all employees has increased to 26.12 dollars per hour with 2.6% increase in March 2017
  • Personal consumption expenditures has increased to $13,099.5 Bn in March 2017 with a 4.7% increase from year ago and Personal savings rate decreased to 5.9% in March 2017 reflecting a 4.8% decrease  from year ago
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“Make more moves and less announcements.”

– 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
  • Refinance to 80% and get rid of MI
  • 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

“Purpose is an incredible alarm clock.”

– Anonymous

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WEEKLY NEWS UPDATE!

Trump tax plan could hurt home values, but help first-timers

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L.A. County median home price ties record high as housing market sizzles

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Weekly mortgage applications fall 3.4% as homebuyers find little for sale

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US housing prices are rising twice as fast as wages

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“Work until your idols become your equals.”

– 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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