Weekly Newsletter – 09-15-17

 

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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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“Never allow yourself to be defined by someone else’s opinion of you.”

– Anonymous

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WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS

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Weekly Mortgage Watch – September 14, 2017

Weekly Mortgage Applications – 09-13-17

  • 30 Year Mortgage Rate is at 3.78% unchanged since last week. The 30 year rock bottom rate touched in last 10 years is 3.55%
  • 15 Year Mortgage Rate is at 3.08% since last week. The 15 year rock bottom rate touched in last 10 years is 2.85%
  • 5/1 Adjustable Rate Mortgage Rate decreased to 3.13% compared to 3.15% last week. The 5 year rock bottom rate touched in last 10 years is 2.72%
  • Rates are still low. Purchase or Refinance before rates move up further
  • Mortgage applications increased 9.9 percent for the week ended September 13, 2017
  • Mortgage apps move in the inverse direction of rates
  • Rates are still extremely low, so get your fixed rate loans now.If already on a fixed  30 year rate, change to a 15 year fixed loan and cut your term!
  • Share your comments on our Facebook page!
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“Don’t waste words on people who desernve your silence. Sometimes the most powerful thing you can say is nothing at all.”

– Anonymous

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HOUSING AND ECONOMIC DATA

Freddie Mac Mortgage Rate Trend Actuals Vs Forecasts – July 2017

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  • 30 year Fixed Mortgage Actual Rate increased to 4% in 2nd quarter of 2017. Forecast for 3rd quarter of 2017 is 3.9% until the 4th quarter of 2017. Forecast for 1st quarter of 2018 is 4.1% and will increase to 4.6% in 4th quarter of 2018
  • 10 year Const. Mat. Treas Actual Rate increased to 2.3% in 2nd quarter of 2017. Forecast for 3rd quarter of 2017 is 2.2% until the last quarter of 2017. Forecast for 1st quarter of 2018 is 2.4% and will increase to 2.8% in last quarter of 2018
  • 5/1 year Hybrid Treas Indexed ARM Actual Rate is 3.1% in 2nd quarter of 2017. Forecast for 3rd quarter of 2017 is 3.1% until the last quarter of 2017. Forecast for 1st quarter of 2018 is 3.3% and will increase to 4.0% in last quarter of 2018
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Freddie Mac Unemployment Rate – Consumer Prices – Real GDP – Actual and Forecasts – July 2017

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

  • Actual unemployment rate for 2nd quarter of 2017 is at 4.4%. Forecast unemployment rate for 3rd quarter of 2017 will be 4.4% and 4.3% in the 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 2nd quarter of 2017 is at -0.3%.  Forecast for 3rd quarter of 2017 is 2.1% and will be 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 1.4% 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
  • 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 $303 Bn in last quarter of 2017. Forecast for 1st quarter of 2018 is $249Bn and will increase to $305 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 $105 Bn and forecast for last quarter of 2017 will is $87 Bn. Forecast for 1st quarter of 2018 will be $75 Bn and last quarter of 2018 will be $96 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 1st quarter of 2017 is $397 Bn and $389 Bn in the last quarter of 2017.  Forecast for 1st quarter of 2018 will be $324 Bn and last quarter of 2018 will be $402 Bn
  • Share your comments on our Facebook page!
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“Difference between school and life: School teaches you lessons and then gives you a test and you learn the lesson”

– 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

“It’s fine to celebrate success but it is more important to heed the lessons of failure.”

– Bill Gates

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WEEKLY NEWS UPDATE!

MBA: Mortgage applications drop second week straight

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Income disparity highlighted by CEO pay

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Mortgage rates follow bond yields down to a 10-month low

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Hurricane Irma won’t affect Florida real estate prices, says billionaire developer

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“The more you praise and celebrate your life, the more there is in life to celebrate.”

– Oprah Winfrey

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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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