Weekly Newsletter – 09-29-17

 

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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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“To be yourself in a world that is constantly trying to make you something else is the greatest accomplishment.”

– Ralph Waldo Emerson

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WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS

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Weekly Mortgage Watch – September 28, 2017

Weekly Mortgage Applications – 09-27-17

  • 30 Year Mortgage Rate is at 3.83% since last week. The 30 year rock bottom rate touched in last 10 years is 3.40%

  • 15 Year Mortgage Rate is at 3.13% since last week. The 15 year rock bottom rate touched in last 10 years is 2.73%

  • 5/1 Adjustable Rate Mortgage Rate increased to 3.20% compared to 3.17% last week. The 5 year rock bottom rate touched in last 10 years is 2.71%

  • Rates are still low. Purchase or Refinance before rates move up further

  • Mortgage applications decreased 0.5 percent for the week ended September 27, 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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“Be like a tree, let the dead leaves drop.”

– Rumi

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HOUSING AND ECONOMIC DATA

US Homes Report – July 2017

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  • West had the highest averages in Existing Home Sales at 5.0% increase and Northeast had a 12.5% percent decrease in Existing Home Prices in July 2017

  • Existing home sales Months Supply was at 4.2 months supply reflecting 0% change from  month ago. Existing home sales Housing inventory decreased to 1,920,000 units reflecting a 1% decrease from month ago

  • SFR Delinquency Rate this 2nd Quarter of 2017 is at 3.68% reflecting a 19.8% decrease from year ago, Mortgage Rate Reading for 27th of July is 3.92% for 30 yr, 3.20% for 15  yr, 3.18% for 5 yr and Mortgage Applications decreased by 2.8% for the week ending July 28, 2017

  • New privately owned housing units decreased to 1,155,000 in July 2017 reflecting a 5.6% decrease from year ago. New one family houses sold in US decreased to 571,000 units with 8.9% decrease from year ago and Mean Sales Price of Existing Homes is at $298,800 with 1.5% change from month ago

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Unemployment Rate and Initial Claims – July 2017

Payroll and Unemployment – July 2017

  • Initial Claim in US is at 243,600 with a 6.3% decrease in July 2017 and Initial Claim in California is at 43,183 with a 0.6% increase in July 2017

  • Unemployment rate in US is at 4.3% with a 12.2% decrease in July 2017 and Unemployment in California is at 4.8% with a 11.1% decrease in July 2017

  • Santa Rosa MSA has the highest decrease of unemployment rate from year ago at 16.4% in July 2017

  • Visalia MSA has the least decrease of unemployment rate from year ago with 2.7% change in July 2017

  • Industrial Production Index has increased to 105.475 in July 2017 reflecting a 2.2% increase from year ago. All Employees Total Non-farm  has increased to 146,574 in July 2017 reflecting a 1.5% increase from year ago

  • Average Initial Claims in United States decreased to 243,600 in July 2017 reflecting a 6.3% decrease from year ago. The Average Initial Claims in California increased to 43,183 in July 2017 reflecting a 0.6% increase from year ago

  • Santa Rosa in California  had the highest drop in Unemployment Rate in July 2017 with 16.4% decrease from year ago. 10 Year Break even Inflation rate increased to 1.77% with 20.4% increase from year ago. The average hourly earning of all employees has increased to 26.36 dollars per hour with 2.5% increase in July 2017

  • Personal consumption expenditures has increased to $13,383.3 Bn in July 2017 with a 4.2% increase from year ago and Personal savings rate decreased to 3.5% in July 2017 reflecting a 31.4% decrease  from year ago

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“Sometimes it’s better to react with no reaction.”

– 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

“Don’t chase love, money or success. Become the best version of yourself and those things will chase you.”

– Anonymous

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WEEKLY NEWS UPDATE!

Real estate market forecast to grow 10% here in 2018

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Here’s what quantitative un-easing could mean for the housing market

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U.S. Real Estate Outlook Still Strong

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Thirty-year fixed mortgage rate rises to 3.83%

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“The hottest fure makes the hardest steel.”

– 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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