Weekly Newsletter – 07-14-17

 

Shining Star Funding Logo VIEW ONLINE
SHORT APP
VISIT OUR SITE

FEATURED LOAN PROGRAMS

img-300-230
img-300-230

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.
img-134-31
img-134-31

“Your vibe attracts your tribe”

– Anonymous

img-300-29


WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS

img-230-130
img-230-130

Weekly Mortgage Watch – July 13 2017

Weekly Mortgage Applications – 07-07-17

  • 30 Year Mortgage Rate increased to 4.03% compared to 3.96% last week. The 30 year rock bottom rate touched in last 10 years is 3.56%
  • 15 Year Mortgage Rate  increased to 3.29% compared to 3.22% last week. The 15 year rock bottom rate touched in last 10 years is 2.86%
  • 5/1 Adjustable Rate Mortgage Rate increased to 3.28% compared to 3.21% last week. The 5 year rock bottom rate touched in last 10 years is 2.74%
  • Rates are still low. Purchase or Refinance before rates move up further
  • Mortgage applications decreased 7.4 percent for the week ended July 07, 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!
img-134-31
img-134-31

“If you stumble, make it part of the dance”

– Anonymous

img-300-29


HOUSING AND ECONOMIC DATA

Freddie Mac 1-4 Family Mortgage Origination – Conventional – FHA and VA – Actual and Forecasts – April 2017

img-400-300
  • Mortgage origination Conventional loans is at $1,344 Bn in 2015. Forecast for 1st quarter of 2016 is $295 Bn and will increase to $458 Bn in last quarter of 2016. Forecast for 1st quarter of 2017 is $238 Bn and will increase to $251 Bn in last quarter of 2017. Forecast for 1st quarter of 2018 is $214 Bn and will increase to $274 Bn in last quarter of 2018
  • Mortgage origination for FHA and VA decreased to $132 Bn in 4th quarter of 2016 compared to $134 Bn in the 3rd quarter. Forecast for 1st quarter of 2017 will be $97 Bn and last quarter of 2017 will be $84 Bn. Forecast for 1st quarter of 2018 will be $71 Bn and last quarter of 2018 will be $91 Bn
  • Mortgage origination Total increased to $1,750 Bn in 2015.  Forecast for 1st quarter of 2016 is $390 Bn and  upto $590 Bn in the last quarter. Forecase for 2017 will range from $335 Bn to $443 Bn for each quarter.  Forecast for 1st quarter of 2018 will be $285 Bn and last quarter of 2018 will be $365 Bn
  • Share your comments on our Facebook page!
img-134-31

img-230-300
img-230-300

Freddie Mac Percentages – ARM – Refinancing Applications and Origination – Refinancing Debt – Actual Vs Forecast – April 2017

Payroll and Unemployment – April 2017

  • Refinancing Share Origination actual is at 45% in 2015. Forecast for 1st quarter of 2016 increased to 51%.The forecast for refinancing share origination is projected to fall from 51% in 1st quarter of 2016 to 21% in the last quarter of 2017. Forecast for 2018 will be 26% in the 1st quarter and 21% in the last quarter
  • Change in Residential Mortgage Debt is 3.4% in 4th quarter of 2016. Forecast for 1st quarter of 2017 will be 3.8% upto 4.3% in the last quarter. Forecast for 2018 will be 4.4% and will increase to 4.9% in the last quarter
  • Share your comments on our Facebook page!
  •  
  • Industrial Production Index has increased to 105.0329 in April 2017 reflecting a 2.1% increase from year ago. All Employees Total Non-farm  has increased to 145,997 in April 2017 reflecting a 1.5% increase from year ago
  • Average Initial Claims in United States decreased to 241,400 in April 2017 reflecting a 8.8% decrease from year ago. The Average Initial Claims in California decreased to 43,057 in April 2017 reflecting a 4.3% decrease from year ago
  • San Luis Obispo in California  had the highest drop in Unemployment Rate in April 2017 with 18.2% decrease from year ago. 10 Year Break even Inflation rate increased to 1.91% with 18.6% increase from year ago. The average hourly earning of all employees has increased to 26.18 dollars per hour with 2.5% increase in April 2017
  • Personal consumption expenditures has increased to $13,191 Bn in April 2017 with a 4.3% increase from year ago and Personal savings rate decreased to 5.3% in April 2017 reflecting a 10.2% decrease  from year ago
img-134-31
img-134-31

“Broken crayons still color”

– Anonymous

img-300-29


FEATURED LOAN PROGRAM

img-400-300

Jumbo Loan

  • With a jumbo mortgage, you’ll get low rates for your jumbo loan
  • Loan amounts as low as $300,000 and up to $2.5Mn
  • Back end ratios to 49.99%. Interest only options
  • Asset Depletion program.We can use estimated income based on assets in hand
img-134-31

img-230-300
img-230-300

Remove Mortgage Insurance

Zero Down Loan

  • Single loan to 95% with no mortgage insurance (with lender paid mortgage insurance)
  • Break up your loan into 80% first and 10% second and save MI.
  • Refinances and Purchases OK. Refinance to 80% and get rid of MI
  • Automated underwriting only
  • Down Payment Assistance (DPA) for up to 5%. DPA is a true grant bearing no interest with no repayment required. FICO 640+
  • Owner Occupied homes only. Owner Occupied homes only Not limited to first time homebuyers.
  • Subject to underwriter approval.
  • DPA is only for down payment and closing costs. No cash back allowed.
img-134-31
img-134-31

Quick Turnaround and Closing

With inhouse underwriting and funding. Call me and let’s make it happen!
img-500-286
img-134-31
SCHEDULE A LOAN OFFICER PHONE CALL
FILL OUT THIS SHORT APPLICATION FORM NOW

“A little progress each day adds up to big results”

– Anonymous

img-300-29


WEEKLY NEWS UPDATE!

Mortgage applications rise 1.4%, defying higher rates

img-300-29

img-146-90

U.S. Job Growth Picks Up the Pace, but Wages Lag Behind

img-300-29

img-146-90

Appraisers May Be Holding Back The Housing Market, And That Might Be Okay

img-300-29

img-146-90

The dollar is making a turn and is about to flex its muscles after declining most of 2016, currency strategists say

img-300-29

img-146-90

“Create your own sunshine”

– Anonymous

img-300-29


OTHER NICHE LOAN PROGRAMS

Product Loan And Niches

Niche Loan Programs

img-230-130
img-230-130
  • Conventional Loan
  • FHA Loans
  • 100% VA Loans
  • Jumbo Loans
  • Zero Down Loan
  • 2 VA Loans
  • 1 Year Tax Verification
  • Remove Mortgage Insurance
img-134-31
img-134-31

Second Opinion Doesn’t Hurt!

Talk to me today about your scenario and let me help you find the perfect solution for you!
img-500-286
img-134-31
SCHEDULE A LOAN OFFICER PHONE CALL
FILL OUT THIS SHORT APPLICATION FORM NOW
 

USEFUL LINKS

Short App

Unsubscribe

 

ABOUT US AND CONTACT US

About Shining Star Funding

Telephone: 925 820 2981

Toll Free:     866 280 0020

Email:          [email protected]

 

 

image_pdfimage_print

Leave a Reply

Your email address will not be published. Required fields are marked *