Weekly Newsletter – 10-13-17

 

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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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“Don’t ever change yourself to impress someone, cause they should be impressed that you don’t change to please others”

– Anonymous

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WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS

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Weekly Mortgage Watch – October 12, 2017

Weekly Mortgage Applications – 10-11-17

  • 30 Year Mortgage Rate increased to 3.91% compared to 3.85% last week. The 30 year rock bottom rate touched in last 10 years is 3.39%

  • 15 Year Mortgage Rate increased at 3.21% compared to 3.15% last week. The 15 year rock bottom rate touched in last 10 years is 2.70%

  • 5/1 Adjustable Rate Mortgage Rate decreased to 3.16% compared to 3.18% last week. The 5 year rock bottom rate touched in last 10 years is 2.73%

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

  • Mortgage applications decreased 2.1 percent for the week ended October 11, 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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“When you come out of the storm you won’t be the same person that walked in. That’s what the storm is all about.”

– Haruki Murakami

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HOUSING AND ECONOMIC DATA

Consumer Price Index – August 2017

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  • San Francisco MSA leads the Primary House Rent index at 419.229 reflecting a 5.2% increase from year ago followed by Los Angeles at 350.842 reflecting a 5.1% increase from year ago. National index is at 309.479 reflecting a 3.9% increase from year ago

  • CPI for all items in San Francisco is highest at 275.893 with 3.0% increase from year ago compared to Los Angeles at 256.739 with 2.8% increase from year ago and National at 245.030 with a 1.9% increase from year ago

  • San Francisco MSA housing index leads at 326.813 with a 4.8% increase compared to Los Angeles at 289.452 with 3.8% increase and National at 252.615 with 2.9% increase from year ago

  • Share your comments on our Facebook page

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US Homes Sales Report – August 2017

US Homes Prices Report – August 2017

  • Number of units of existing home sales for month of August 2017 is at 5,350,000 and is at a 1.7% decrease compared to last month

  • West census region is at 1,200,000 number of units and is at a 4.8% decrease for August 2017 compared to last month. Midwest census region for August 2017 is at 1,280,000 number of units, a 2.4% increase compared to last month

  • South census region of August 2017 is at 2,150,000 number of units and is at a 5.7% decrease from month ago

  • Northeast census region of August 2017 is at 76,000 number of units and is 8.6% higher than last month

  • Median Sales Price of Existing Homes in US decreased to $253,500 with a 1.8% decrease from month ago

  • Median Sales Price in West increased to $374,700 with a 0.2% increase in August 2017 compared to last month

  • Midwest median sales price decreased to $200,500 with a 2.4% decrease compared to last month and South is at $220,400 reflecting a 3.1% decrease from month ago

  • Northeast median sales price has decreased to $289,500 reflecting a 0.2% decrease from month ago

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“Perspective is the way we see things when we look at them from a certain distance and it allows us to appreciate their true value”

– Rafael E. Pino

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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. Family members can co-sign for borrower. Co Signor need not occupy home. Co signor not allowed on second loan.

  • 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

“People can be mean. Don’t take it personally. It says nothing about you but a lot about them”

– Anonymous

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WEEKLY NEWS UPDATE!

Mortgage rates jump as bond selloff drags on and housing runs out of steam

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Boomers More Likely to Carry Mortgages Into Retirement

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Weekly mortgage applications stall along with rates and home sales

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Jobless claims drop 12,000 to 260,000 last week

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“No Dream is too big when you truly understand abundance is your birthright.”

– 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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