Weekly Newsletter – 06-16-17

 

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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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“Ambitious goals make for outstanding achievements”

– Anonymous

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WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS

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Weekly Mortgage Watch – June 15 2017

Weekly Mortgage Applications – 06-09-17

  • 30 Year Mortgage Rate increased to 3.91% compared to 3.89% last week. The 30 year rock bottom rate touched in last 10 years is 3.71%
  • 15 Year Mortgage Rate increased to 3.18% compared to 3.16% last week. The 15 year rock bottom rate touched in last 10 years is 2.98%
  • 5/1 Adjustable Rate Mortgage Rate increased to 3.15% compared to 3.11% last week. The 5 year rock bottom rate touched in last 10 years is 2.79%
  • Rates are still low. Purchase or Refinance before rates move up further
  • Mortgage applications increased 2.8 percent for the week ended June 09, 2017
  • Mortgage apps move in the inverse direction of rates
  • Rates are still extremely low, so apply for mortgage now
  • Share your comments on our Facebook page!
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“Know your limitations, then defy them”

– Anonymous

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HOUSING AND ECONOMIC DATA

Fannie Mae Housing Survey – April 2016

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  • Average Home Price Change Expectation in next 12 months is 3.0% and the Average 12 Month Rental Price Change Expectation is 4.0%
  • Home Prices will go up in the next 12 months based on 53% responses. Home Rental Prices will go up in the next 12 months based on 52% responses. Mortgage rates will go up in next 12 months based on 62% responses
  • 62% of respondents say it is a good time to buy and 57% says it’s a good time to sell. 56% says it’s easy to get a mortgage today, 67% would rather buy than rent and 46% says that economy is on the right track
  • There are 11% of respondents who are concerned about losing their job over next 12 months. 25% of respondents says that their income will be higher and 47% says their financial situation will get better over the next 12 months
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Freddie Mac Unemployment Rate – Consumer Prices – Real GDP – Actual and Forecasts – March 2017

Freddie Mac Housing Starts – Home Sales – House Price Appreciation – Home Price Index – Actual and Forecasts – March 2017

  • Actual unemployment decreased to 4.9% in 2016 compared to 5.3% in 2015. Forecast unemployment rate for 1st quarter of 2017 will be 4.8% and will decrease to 4.7% in the last quarter of 2017. Forecast unemployment rate for 1st quarter of 2018 will be 4.6% and will decrease to 4.4% in the last quarter of 2018
  • CPI increased to 1.8% in 2016 compared to 0.4% in 2015.  Forecast for 1st quarter of 2017 will be 2.4% down to 2.2% in the last quarter of 2017. Forecast for 1st quarter of 2018 will be 2.3% and will increase to 2.5% in the last quarter of 2018
  • Real GDP is at 1.9% in 2016. Forecast for 1st quarter of 2017 is 1.9% and will increase to 2.2% in the last quarter of 2017. Forecast for 1st quarter of 2018 is 2.1% and will increase to 2.2% in the last quarter of 2018
  • Share your comments on our Facebook page
  • Housing Starts actual increased to 1.17 Mn in 2016 compared to 1.11 in 2015. Forecast for 1st quarter of 2017 is 1.22 Mn going up to 1.30 Mn in last quarter of 2017. Forecast for 1st quarter of 2018 is 1.33 Mn going up to 1.38 Mn in last quarter of 2018
  • Total Home Sales increased to 6.01Mn in 2016 compared to 5.75Mn in 2015. Total Home sales for 2017 is at 6.10 Mn in 1st quarter and up to 5.80 Mn in the last quarter.  Total Home sales for 2018 is at 5.85 Mn in 1st quarter and up to 6.10 Mn in the last quarter
  • FMHPI house price appreciation increased at 6.5% in 2016 compared to 6.1% in 2015. House price appreciation forecast for 2017 is at 1.4% in the 1st quarter and 1.2% in the last quarter. House price appreciation forecast for 2018 is at 1.1% in the 1st quarter and 1.0% in the last quarter
  • Share your comments on our Facebook page!
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“90% of our problems are caused by our own thoughts.”

– 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

“Slow progress is better than no progress”

– Anonymous

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WEEKLY NEWS UPDATE!

Mortgages are unaffordable in half of America’s largest housing markets

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Is a 20 percent down payment out of reach? How to get around that

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4 mortgage misunderstandings that could cost you

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Mortgage delinquencies drop to 10-year low

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“Whoever wants to reach a distant goal must take small steps.”

– Helmut schmidt

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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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