Weekly Newsletter – 08-25-17

 

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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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“Today is full of possible”

– Anonymous

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WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS

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Weekly Mortgage Watch – August 24 2017

Weekly Mortgage Applications – 08-18-17

  • 30 Year Mortgage Rate decreased to 3.86% compared to 3.889% last week. The 30 year rock bottom rate touched in last 10 years is 3.66%
  • 15 Year Mortgage Rate is at 3.16% since last week. The 15 year rock bottom rate touched in last 10 years is 2.89%
  • 5/1 Adjustable Rate Mortgage Rate increased to 3.17% compared to 3.16% last week. The 5 year rock bottom rate touched in last 10 years is 2.80%
  • Rates are still low. Purchase or Refinance before rates move up further
  • Mortgage applications decreased 0.5 percent for the week ended August 18, 2017
  • Mortgage apps move in the inverse direction of rates
  • Rates are still extremely low, so get your fixed rate loans now.If on a fixed rate ,change to a 15 year loan!
  • Share your comments on our Facebook page!
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“Once you see RESULTS it becomes an addiction”

– Anonymous

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HOUSING AND ECONOMIC DATA

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

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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 $298 Bn and will increase to $293 Bn in last quarter of 2017. Forecast for 1st quarter of 2018 is $235 Bn and will increase to $288 Bn in last quarter of 2018
  • Mortgage origination for FHA and VA decreased to $99 Bn in 1st quarter of 2017 compared to $132 Bn in the 4th quarter of 2016. Forecast for 2nd quarter of 2017 will be $102 Bn and forecast for last quarter of 2017 will is $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 $377 Bn to $512 Bn for each quarter.  Forecast for 1st quarter of 2018 will be $306 Bn and last quarter of 2018 will be $379 Bn
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Freddie Mac Percentages – ARM – Refinancing Applications and Origination – Refinancing Debt – Actual Vs Forecast – May 2017

Fannie Mae Housing Survey – June 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 28% in the last quarter of 2017. Forecast for 2018 will be 30% in the 1st quarter and 23% 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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  • Average Home Price Change Expectation in next 12 months is 3.4% and the Average 12 Month Rental Price Change Expectation is 4.8%
  • Home Prices will go up in the next 12 months based on 54% responses. Home Rental Prices will go up in the next 12 months based on 58% responses. Mortgage rates will go up in next 12 months based on 57% responses
  • 62% of respondents say it is a good time to buy and 64% says it’s a good time to sell. 59% says it’s easy to get a mortgage today, 67% would rather buy than rent and 50% says that economy is on the right track
  • There are 17% 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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“The science of today is the technology of tomorrow.”

– Edward Teller

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FEATURED LOAN PROGRAM

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Zero Down 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.
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Remove Mortgage Insurance

Jumbo 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
  • 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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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

“You cannot escape the responsibility of tomorrow by evading it today.”

– Abraham Lincoln

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WEEKLY NEWS UPDATE!

Fed policymakers grow more worried about weak inflation

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Mortgage rates resume free fall as ‘uncertainty’ swirls

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Housing inventory slump dampens mortgage originations

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Council committee backs new construction fee to aid affordable housing

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“Don’t let yesterday take up too much of today.”

– 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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