Weekly Newsletter – 07-28-17

 

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

“It’s not about perfect. It’s about effort. And when you bring that effort every single day, that’s where transformation happens. That’s how change occurs.”

– Jillian Michaels

img-300-29


WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS

img-230-130
img-230-130

Weekly Mortgage Watch – July 27 2017

Weekly Mortgage Applications – 07-21-17

  • 30 Year Mortgage Rate decreased to 3.92% compared to 3.96% last week. The 30 year rock bottom rate touched in last 10 years is 3.49%
  • 15 Year Mortgage Rate  decreased to 3.20% compared to 3.23% last week. The 15 year rock bottom rate touched in last 10 years is 2.80%
  • 5/1 Adjustable Rate Mortgage Rate decreased to 3.18% 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 increased 0.4 percent for the week ended July 21, 2017
  • Mortgage apps move in the inverse direction of rates
  • Rates are still extremely low, so get your fixed rate loans now
  • Share your comments on our Facebook page!
img-134-31
img-134-31

“It is a beautiful thing when a career and a passion come together”

– Anonymous

img-300-29


HOUSING AND ECONOMIC DATA

Bay Area County Homes Sales Report – May 2017

img-400-300
  • Average Bay Area county selling price for counties analysed was $1,057,332 in May 2017. Santa Clara County led with the highest average selling price at $1,862,634, followed by San Mateo County at $1,670,046, Alameda county at $867,921, Santa Cruz county at $780,811, Contra Costa county at $704,302, San Benito county at $675,731 and Monterey county at $595,117
  • Total Average Days on Market in Bay Area counties analysed was 63 days. 129 for San Benito County, 87 for Monterey County, 64 for Santa Cruz county, 57 for San Mateo county, 56 for Santa Clara county, 55 for Alameda county and 54 for Contra Costa county
  • Bay Area counties analyzed had Listings Sold of 5217 in May 2017. Santa Clara County had the highest at 1548, followed by Alameda County at 1408, Contra Costa County at 1220, San Mateo County at 553, Monterey County at 255, Santa Cruz County at 178 and San Benito County at 47
  • Total average Sales Price / List Price in Bay Area counties stood at 103.32% in May 2017. Alameda County had the highest average Sales Price/ List Price at 106.39% followed by San Mateo County at 106.01%, Santa Clara County at 104.32%, Contra Costa County at 103.35%, Santa Cruz County at 99.59%, San Benito County at 99.51% and Monterey County at 97.86%
img-134-31

img-230-300
img-230-300

Consumer Price Index – May 2017

US Homes Sales Report – May 2017

  • San Francisco MSA leads the Primary House Rent index at 414.974 reflecting a 6.1% increase from year ago followed by Los Angeles at 345.534 reflecting a 5.1% increase from year ago. National index is at 306.379 reflecting a 3.8% increase from year ago
  • CPI for all items in San Francisco is highest at 274.589 with 3.8% increase from year ago compared to Los Angeles at 255.674 with 2.5% increase from year ago and National at 243.846 with a 1.9% increase from year ago
  • San Francisco MSA housing index leads at 322.893 with a 5.9% increase compared to Los Angeles at 287.251 with 4.1% increase and National at 250.376 with 3.1% increase from year ago
  • Share your comments on our Facebook page
  • Number of units of existing home sales for month of May 2017 is at 5,620,000 and is at a 1.1% increase compared to last month
  • West census region is at 1,220,000 number of units and is at a 3.4% increase for May 2017 compared to last month. Midwest census region for May 2017 is at 1,280,000 number of units , a 5.9% decrease compared to last month
  • South census region of May 2017 is at 2,340,000 number of units and is at a 2.2% increase from month ago
  • Northeast census region of May 2017 is at 73,000 number of units and is 30.4% higher than last month
img-134-31
img-134-31

“As I look back on my life, I realize that every time I thought I was being rejected from something good, I was actually being re-directed to something better.”

– Anonymous

img-300-29


FEATURED LOAN PROGRAM

img-400-300

Remove Mortgage Insurance

  • 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
img-134-31

img-230-300
img-230-300

Zero Down Loan

Jumbo Loan

  • 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.
  • 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-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

“If it doesn’t open it’s not your door”

– Anonymous

img-300-29


WEEKLY NEWS UPDATE!

US home sales stumble as prices hit record high

img-300-29

img-146-90

Trump boom? Not so far. GDP to show U.S. economic recovery still historically weak

img-300-29

img-146-90

Pickup in Confidence Shows Americans Upbeat on Jobs, Economy

img-300-29

img-146-90

Investors are eager to see what the Fed says about inflation

img-300-29

img-146-90

“The habit of persistence is the habit of victory”

– 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 *