Weekly Newsletter – 06-23-17

 

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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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“Everthing you do now is for your future. Think about that”

– Anonymous

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WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS

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Weekly Mortgage Watch – June 22 2017

Weekly Mortgage Applications – 06-16-17

  • 30 Year Mortgage Rate decreased to 3.90% compared to 3.91% last week. The 30 year rock bottom rate touched in last 10 years is 3.66%
  • 15 Year Mortgage Rate decreased to 3.17% compared to 3.17% last week. The 15 year rock bottom rate touched in last 10 years is 2.95%
  • 5/1 Adjustable Rate Mortgage Rate decreased to 3.14% compared to 3.15% last week. The 5 year rock bottom rate touched in last 10 years is 2.77%
  • Rates are still low. Purchase or Refinance before rates move up further
  • Mortgage applications increased 0.6 percent for the week ended June 16, 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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“Today is the beginning of whatever you want”

– Anonymous

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HOUSING AND ECONOMIC DATA

Bay Area County Homes Sales Report – April 2017

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  • Average Bay Area county selling price for counties analysed was $1057648 in April 2017. Santa Clara County led with the highest average selling price at $1739894, followed by San Mateo County at $1647797, Alameda county at $889601, Contra Costa county at $754486, Santa Cruz county at $729203, Monterey county at $666796 and San Benito county at $638740
  • Total Average Days on Market in Bay Area counties analysed was 66 days. 138 for San Benito County, 106 for Monterey County, 89 for Santa Cruz county, 60 for San Mateo county, 50 for Contra Costa county, 49 for Santa Clara county and 48 for Alameda county
  • Bay Area counties analyzed had Listings Sold of 4263 in April 2017. Santa Clara County had the highest at 1228, followed by Alameda County at 1120, Contra Costa County at 1058, San Mateo County at 443, Monterey County at 196, Santa Cruz County at 168 and San Benito County at 49
  • Total average Sales Price / List Price in Bay Area counties stood at 102.93% in April 2017. Alameda County had the highest average Sales Price/ List Price at 107.02% followed by San Mateo County at 104.64%, Santa Clara County at 104.47%, Contra Costa County at 102.98%, Santa Cruz County at 99.57%, San Benito County at 98.46% and Monterey County at 97.11%
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Consumer Price Index – April 2017

US Homes Sales Report – April 2017

  • San Francisco MSA leads the Primary House Rent index at 413.736 reflecting a 6.2% increase from year ago followed by Los Angeles at 344.279 reflecting a 5.1% increase from year ago. National index is at 305.477 reflecting a 3.8% increase from year ago
  • CPI for all items in San Francisco is highest at 274.589 with 3.8% increase from year ago compared to Los Angeles at 254.971 with 2.7% increase from year ago and National at 244.158 with a 2.2% increase from year ago
  • San Francisco MSA housing index leads at 322.893 with a 5.9% increase compared to Los Angeles at 286.168 with 4.3% increase and National at 249.514 with 3.1% increase from year ago
  • Share your comments on our Facebook page
  • Number of units of existing home sales for month of April 2017 is at 5,570,000 and is at a 2.3% decrease compared to last month
  • West census region is at 1,180,000 number of units and is at a 3.3% decrease for April 2017 compared to last month. Midwest census region for April 2017 is at 1,360,000 number of units , a 3.8% increase compared to last month
  • South census region of April 2017 is at 2,300,000 number of units and is 5.0% decrease from month ago
  • Northeast census region of April 2017 is at 56,000 number of units and is 1.8% higher than last month
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“Have more than you show, and speak less than you know.”

– 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

“Confidence is silent. Insecurities are loud.”

– Anonymous

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WEEKLY NEWS UPDATE!

Here’s a forecast that should worry investors betting on a second-half surge in the economy

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More than half of U.S. renters can’t afford a mortgage

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Boomers Look To Real Estate To Afford Retirement

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The booming stock market is in denial, economist David Rosenberg warns

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“Inspirational quotes are just quotes. It is the actions you perform after reading them that matter.”

– James Doyle

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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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