Weekly Newsletter – 07-07-17

 

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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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“Surround yourself with the dreamers and the doers the believers and thinkers but most of all surround yourself with those who see greatness within you.”

– Anonymous

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WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS

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Weekly Mortgage Watch – July 06 2017

Weekly Mortgage Applications – 06-30-17

  • 30 Year Mortgage Rate increased to 3.96% compared to 3.88% last week. The 30 year rock bottom rate touched in last 10 years is 3.62%
  • 15 Year Mortgage Rate  increased to 3.22% compared to 3.17% last week. The 15 year rock bottom rate touched in last 10 years is 2.89%
  • 5/1 Adjustable Rate Mortgage Rate increased to 3.21% compared to 3.17% 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 1.4 percent for the week ended June 30, 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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“Little by litle one walks far”

– Anonymous

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HOUSING AND ECONOMIC DATA

Freddie Mac Mortgage Rate Trend Actuals Vs Forecasts – April 2017

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  • 30 year Fixed Mortgage Actual Rate increased to 4.2% in 1st quarter of 2017. Forecast for 2nd quarter of 2017 is 4.4% and will increase to 4.5% in 4th quarter of 2017. Forecast for 1st quarter of 2018 is 4.7% and will increase to 4.8% in 4th quarter of 2018
  • 10 year Const. Mat. Treas Actual Rate increased to 2.4% in 1st quarter of 2017. Forecast for 2nd quarter of 2017 will be 2.6% and will increase to 2.7% in last quarter of 2017. Forecast for 1st quarter of 2018 will be 2.9% and will increase to 3.0% in last quarter of 2018
  • 5/1 year Hybrid Treas Indexed ARM Actual Rate is 3.2% in 1st quarter of 2017. Forecast for 2nd quarter of 2017 will increase be 3.4% and will increase to 3.8% in last quarter of 2017. Forecast for 1st quarter of 2018 will increase be 3.5% and will increase to 4.2% in last quarter of 2018
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Freddie Mac Unemployment Rate – Consumer Prices – Real GDP – Actual and Forecasts – April 2017

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

  • Actual unemployment decreased at 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 2.0% 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 Mn 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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“If you’re bored with life – you don’t get up every morning with a burning desire to do things – you don’t have enough goals.”

– Lou Holtz

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FEATURED LOAN PROGRAM

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5% – 10% Down Loan

  • 5% Down Loan up to $636,150.
  • 10% Down Loans up to $986,650. First loan of $636,150 and Second up to $350,000
  • 1 year  tax return program. Get a mortgage by providing not two, but one year’s federal income tax returns!
  • 80/10/10 LOANS WITH NO MI. Conventional Loans. First of 80% up to Conventional Loan Limits. Second (HELOC) of 10%. Not directly offered by Shining Star Funding. Both loans close simultaneously
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2 VA Loans

1 Year Tax Verification

  • No requirement to close your currently outstanding VA loan
  • VA county limits, guidelines and eligibility apply
  • Minimum Fico 620
  • Manual and Automated underwriting OK
  • Easy 1 year income verification for Self Employed borrowers
  • First loan up to $636,150.Second Loan upto $350,000.Combined 90% financing without MI
  • Subject to automated underwriting only. Borrower needs to be self-employed for 5 years+
  • *Second loan not directly offered by Shining Star Funding
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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

“Leaders become great, not because of their power, but because of their ability to empower others.”

– John Maxwell

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WEEKLY NEWS UPDATE!

Home prices are sky high, but mortgages are still cheap

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Top 5 best cities to buy a vacation home

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BIG HOUSES IN THE U.S. ARE BACK (AND THERE’S A GROWING HOUSING BUBBLE)

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Confidence Boomed After the Election. The Economy Hasn’t.

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“Review your goals twice every day in order to be focused on achieving them.”

– Les Brown

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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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