Weekly Newsletter – 06-30-17

 

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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 640 ; Conventional 640
  • Maximum Debt to Income 45%. Subject to Underwriter approval.
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“Make your vision so clear that your fears become irrelevant”

– Anonymous

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WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS

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Weekly Mortgage Watch – June 29 2017

Weekly Mortgage Applications – 06-23-17

  • 30 Year Mortgage Rate decreased to 3.88% compared to 3.90% last week. The 30 year rock bottom rate touched in last 10 years is 3.66%
  • 15 Year Mortgage Rate is at 3.17% last week. The 15 year rock bottom rate touched in last 10 years is 2.94%
  • 5/1 Adjustable Rate Mortgage Rate increased to 3.17% compared to 3.14% 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 decreased 6.2 percent for the week ended June 23, 2017
  • Mortgage apps move in the inverse direction of rates .This week we saw a decrease in applications due to wealthy investors  withdrawing since property prices have risen alot
  • Rates are still extremely low, so apply for mortgage now
  • Share your comments on our Facebook page!
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“The world wasn’t formed in a day, and neither where we. Set small goals and build upon them.”

– Anonymous

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HOUSING AND ECONOMIC DATA

US Homes Prices Report – April 2017

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  • Median Sales Price of Existing Homes in US increased to $244,800 with a 3.5% increase from month ago
  • Median Sales Price in West increased to $358,600 with a 2.6% increase in April 2017 compared to last month
  • Midwest median sales price increased to $194,500 with a 6.4% increase compared to last month and South is at $217,700 reflecting a 3.5% increase from month ago
  • Northeast median sales price has increased to $267,700 reflecting a 2.2% increase from month ago
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Housing Starts – April 2017

Unemployment Rate and Initial Claims – April 2017

  • New privately owned housing unit starts increased to 182,000 units with 7.1% percent change from year ago  in Q1 of 2017
  • Housing Starts:2-4 Units is at 9,000 units in April 2017 with a 3.08% decrease from year ago. Housing Starts Total: New Privately Owned housing units starts increased to 1,172,000 units with a 0.7% increase in April 2017 from year ago
  • Privately Owned Housing Starts 1 Unit Structures increased to 835,000 units with a 8.9% increase from year ago
  • Privately Owned Housing Starts 5 Unit Structures or More decreased to 328,000 units with a 14.6% decrease from year ago
  • Initial Claim in US is at 241,400 with a 8.8% decrease in April 2017 and Initial Claim in California is at 43,057 with a 4.3% decrease in April 2017
  • Unemployment rate in US is at 4.4% with a 12% decrease in April 2017 and Unemployment in California is at 4.8% with a 12.7% decrease in April 2017
  • San Luis Obispo MSA has the highest decrease of unemployment rate from year ago at 18.2% in April 2017
  • Visalia MSA has the least decrease of unemployment rate from year ago with 6.4% change in April 2017
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“Setting goals is the first step in turning the invisible into the visible.”

– Tony Robbins

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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

“When it is obvious that the goals cannot be reached, don’t adjust the goals, adjust the acton steps.”

– Anonymous

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WEEKLY NEWS UPDATE!

U.S. housing starts hit eight-month low; building permits weak

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Fannie Mae: Economic expansion expected to continue

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The Best Places to Live in California

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Booming Seattle maintains title as nation’s hottest housing market for 8th month in a row

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“Fall SevenTimes, Stand Up Eight”

– 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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