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- 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.
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- 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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– Anonymous

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WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS
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- 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
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- 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!
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– Anonymous

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HOUSING AND ECONOMIC DATA
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- 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!
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- 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!
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- 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
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– Anonymous

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FEATURED LOAN PROGRAM
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- 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
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- 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
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- 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.
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With inhouse underwriting and funding. Call me and let’s make it happen! |
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– Anonymous

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– Anonymous

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OTHER NICHE LOAN PROGRAMS
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- Conventional Loan
- FHA Loans
- 100% VA Loans
- Jumbo Loans
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- Zero Down Loan
- 2 VA Loans
- 1 Year Tax Verification
- Remove Mortgage Insurance
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Talk to me today about your scenario and let me help you find the perfect solution for you! |
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