Weekly Newsletter – 07-21-17

 

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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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“You are entirely up to you”

– Anonymous

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WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS

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Weekly Mortgage Watch – July 20 2017

Weekly Mortgage Applications – 07-14-17

  • 30 Year Mortgage Rate decreased to 3.96% compared to 4.06% last week. The 30 year rock bottom rate touched in last 10 years is 3.53%
  • 15 Year Mortgage Rate  decreased to 3.23% compared to 3.29% last week. The 15 year rock bottom rate touched in last 10 years is 2.83%
  • 5/1 Adjustable Rate Mortgage Rate decreased to 3.21% compared to 3.28% last week. The 5 year rock bottom rate touched in last 10 years is 2.69%
  • Rates are still low. Purchase or Refinance before rates move up further
  • Mortgage applications increased 6.3 percent for the week ended July 14, 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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“Be a pineapple: stand tall, wear a crown, and be sweet on the inside”

– Anonymous

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HOUSING AND ECONOMIC DATA

US Homes Report – April 2017

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  • Midwest had the highest averages in Existing Home Sales at 3.8% increase and had a 6.4% percent increase in Existing Home Prices in April 2017
  • Existing home sales Months Supply increased to 4.1 months supply reflecting 7.9% increase from  month ago. Existing home sales Housing inventory increased to 1,920,000 units reflecting a 6.7% increase from month ago
  • SFR Delinquency Rate this 1st Quarter of 2017 is at 3.93% reflecting a 18.3% decrease from year ago, Mortgage Rate Reading for 27th of April is 4.03% for 30 yr, 3.27% for 15  yr, 3.12% for 5 yr and Mortgage Applications decreased by 0.1% for the week ending April 28, 2017
  • New privately owned housing units decreased to 1,156,000 in April 2017 reflecting a 0.7% decrease from year ago. New one family houses sold in US increased to 569,000 units with 0.5% increase from year ago and Mean Sales Price of Existing Homes is at $287,800 with 3.3% change from month ago
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Economic Indicators – April 2017

Fannie Mae Housing Survey – May 2017

  • Homeownership Rate for US is 63.7% in January 2015, lowest in last 11 years. US Leading Index is at 1.64% in April 2017 reflecting a 6.5% increase compared to last year and California Leading Index is at 2.22% in April 2017 reflecting a 9.8% decrease from year ago
  • Major Currencies US dollar index has increased in strength to 107.337 in April 2017 reflecting a 5.8% increase from year ago. Gold Fixing Price London Bullion Market Based in US Dollars increased to 1265.628 in April 2017 reflecting a 1.9% increase from year ago
  • Crude Oil prices increased to 52.44 Dollars in April 2017 reflecting a 28.3% increase from year ago. Federal Deficit was at  -3.16338% in January 2016 reflecting a 30.1% increase from year ago. Total Vehicles sales decreased to 17.2 Million in April 2017 reflecting an 3.4% decrease from year ago
  • Mortgage backed securities for all maturities is $1,774,036 Mn in April 2017 reflecting a 1.0% increase from year ago. Real Gross Domestic Product has increased to 16861.6 Bn Dollars with 2.0% increase from year ago. Federal Debt has increased to 105.86890 percent of the GDP with 2.0% increase from year ago
  • Average Home Price Change Expectation in next 12 months is 2.6% and the Average 12 Month Rental Price Change Expectation is 3.8%
  • Home Prices will go up in the next 12 months based on 48% responses. Home Rental Prices will go up in the next 12 months based on 57% responses. Mortgage rates will go up in next 12 months based on 56% responses
  • 60% of respondents say it is a good time to buy and 61% says it’s a good time to sell. 55% says it’s easy to get a mortgage today, 68% would rather buy than rent and 47% says that economy is on the right track
  • There are 14% of respondents who are concerned about losing their job over next 12 months. 28% of respondents says that their income will be higher and 49% says their financial situation will get better over the next 12 months
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“One day or day one, you decide”

– Anonymous

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FEATURED LOAN PROGRAM

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2 VA Loans

  • No requirement to close your currently outstanding VA loan
  • VA county limits, guidelines and eligibility apply
  • Minimum Fico 620
  • Manual and Automated underwriting OK
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1 Year Tax Verification

5% – 10% Down Loan

  • 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
  • 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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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

“Doubt kills more dreams than failure ever will.”

– Karm Seddiki

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WEEKLY NEWS UPDATE!

Discounts Doing Little to Lift Americans’ Spirits and Spending

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Jobs Up, Unemployment Rate Up, Here’s Why US Economy Has More Room To Grow

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Washington is America’s Top State for Business in 2017

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Cutting legal immigration 50 percent might be Trump’s worst economic idea

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“If you don’t sacrifce for what you want, what you want becomes the sacrifice”

– 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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