Weekly Newsletter – 08-18-17

 

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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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“Do something uncomfortable today. By Stepping out of your box, you don’t have to settle for what you are – you get to create who you want to become.”

– Howard Walstein

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WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS

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Weekly Mortgage Watch – August 17 2017

Weekly Mortgage Applications – 08-11-17

  • 30 Year Mortgage Rate decreased to 3.89% compared to 3.90% last week. The 30 year rock bottom rate touched in last 10 years is 3.62%
  • 15 Year Mortgage Rate decreased to 3.16% compared to 3.18% last week. The 15 year rock bottom rate touched in last 10 years is 2.88%
  • 5/1 Adjustable Rate Mortgage Rate increased to 3.16% compared to 3.14% last week. The 5 year rock bottom rate touched in last 10 years is 2.76%
  • Rates are still low. Purchase or Refinance before rates move up further
  • Mortgage applications increased 0.1 percent for the week ended August 11, 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!
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“We are like a snowflake – all different in our own beautiful way”

– Anonymous

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HOUSING AND ECONOMIC DATA

Freddie Mac Mortgage Rate Trend Actuals Vs Forecasts – May 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 4.1% and will increase to 4.3% in 4th quarter of 2017. Forecast for 1st quarter of 2018 is 4.5% 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 is 2.4% and will increase to 2.6% in last quarter of 2017. Forecast for 1st quarter of 2018 is 2.8% 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 is 3.2% and will increase to 3.5% in last quarter of 2017. Forecast for 1st quarter of 2018 is 3.7% and will increase to 4.2% in last quarter of 2018
  • Share your comments on our Facebook page
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Freddie Mac Unemployment Rate – Consumer Prices – Real GDP – Actual and Forecasts – May 2017

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

  • Actual unemployment rate for 1st quarter of 2017 is at 4.7%. Forecast unemployment rate for 2nd quarter of 2017 will be 4.5% until last quarter of 2017. Forecast unemployment rate for 1st quarter of 2018 will be 4.4% and will increase to 4.5% in the last quarter of 2018
  • Actual CPI for 1st quarter of 2017 is at 3.1%.  Forecast for 2nd quarter of 2017 is 2.3% down to 2.2% in the last quarter of 2017. Forecast for 1st quarter of 2018 is 2.3% and will increase to 2.5% in the last quarter of 2018
  • Actual Real GDP is at 0.7% in 1st quarter of 2017. Forecast for 2nd quarter of 2017 is 2.3% and will be 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 1.25 Mn in 1st quarter of 2017. Forecast for 2nd quarter of 2017 is 1.25 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 Actual increased to 6.22Mn in 1st quarter 2017. Forecast for Total Home sales for 2017 is at 6.25 Mn in 2nd 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 actual is at 1.6% in 1st quarter of 2017. House price appreciation forecast for 2017 is at 1.2% in the 2nd quarter and the rest of the quarters. 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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“Make your dreams happen”

– Anonymous

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FEATURED LOAN PROGRAM

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1 Year Tax Verification

  • 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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2 VA Loans

5% – 10% Down Loan

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

“The best time for new beginnings is now.”

– Anonymous

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WEEKLY NEWS UPDATE!

U.S. unemployment rate drops to 4.3% as employers add 209,000 jobs in July

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Luxury home prices soar as sellers come back down to earth

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Silicon Valley Luxury Home Sales Rise In July

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Four major US cities ring housing bubble alarm

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“Always remember to fall asleep with a dream and wake up with a purpose.”

– 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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