Weekly Newsletter – 11-03-17

 

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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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“Why do you stay in prison when the door is so wide open?”

– Rumi

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WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS

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Weekly Mortgage Watch – November 02, 2017

Weekly Mortgage Applications – 11-01-17

  • 30 Year Mortgage Rate stays at 3.94% since last week. The 30 year rock bottom rate touched in last 10 years is 3.39%

  • 15 Year Mortgage Rate increased to 3.27% compared to 3.25% last week. The 15 year rock bottom rate touched in last 10 years is 2.70%

  • 5/1 Adjustable Rate Mortgage Rate increased to 3.23% compared to 3.21% last week. The 5 year rock bottom rate touched in last 10 years is 2.74%

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

  • Mortgage applications decreased 2.6 percent for the week ended November 01, 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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“Letting go gives us freedon, and freedon is the only condition for happiness.”

– Thich Nhat Hanh

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HOUSING AND ECONOMIC DATA

Payroll and Unemployment – August 2017

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  • Industrial Production Index has increased to 104.7390 in August 2017 reflecting a 1.5% increase from year ago. All Employees Total Non-farm  has increased to 146,730 in August 2017 reflecting a 1.4% increase from year ago

  • Average Initial Claims in United States decreased to 236,750 in August 2017 reflecting a 9.3% decrease from year ago. The Average Initial Claims in California decreased to 38,314 in August 2017 reflecting a 6.7% decrease from year ago

  • Santa Rosa in California  had the highest drop in Unemployment Rate in August 2017 with 16.4% decrease from year ago. 10 Year Break even Inflation rate increased to 1.78% with 21.1% increase from year ago. The average hourly earning of all employees has increased to 26.39 dollars per hour with 2.5% increase in August 2017

  • Personal consumption expenditures has increased to $13,390.6 Bn in August 2017 with a 3.9% increase from year ago and Personal savings rate decreased to 3.6% in August 2017 reflecting a 26.5% decrease  from year ago

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Economic Indicators – August 2017

Freddie Mac Mortgage Rate Trend Actuals Vs Forecasts – August 2017

  • Homeownership Rate for US is 63.4% in January 2016, lowest in last 11 years. US Leading Index is at 1.29% in August 2017 reflecting a 15.1% decrease compared to last year and California Leading Index is at 0.26% in August 2017 reflecting a 113.8% decrease from year ago

  • Major Currencies US dollar index has decreased in strength to 100.938 in August 2017 reflecting a 1.4% decrease from year ago. Gold Fixing Price London Bullion Market Based in US Dollars decreased to 1282.888 in August 2017 reflecting a 4.3% decrease from year ago

  • Crude Oil prices increased to 51.65 Dollars in August 2017 reflecting a 13.7% increase from year ago. Federal Deficit was at  -3.13915% in January 2016 reflecting a 29.7% increase from year ago. Total Vehicles sales decreased to 16.5 Million in August 2017 reflecting an 5.7% decrease from year ago

  • Mortgage backed securities for all maturities is $1,772,456 Mn in August 2017 reflecting a 1.4% increase from year ago. Real Gross Domestic Product has increased to 17031.1 Bn Dollars with 2.2% increase from year ago. Federal Debt has decreased to 103.08859 percent of the GDP with 1.4% decrease from year ago

  • 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

  • Share your comments on our Facebook page

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“Don’t compare your beginning to someone else’s Middle”

– Jon Acuff

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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

“It’s not who you are that holds you back, it’s who you think you aren’t”

– Anonymous

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WEEKLY NEWS UPDATE!

Weekly mortgage applications fall 4.6% as rates rise

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Forget the Fed, dollar strength will be dictated by Trump’s foreign policy, expert says

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[Video] MBA chief economist on what to watch for in mortgage lending in 2018

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MBA: Mortgage applications reverse course, drop down

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“It’s not who you are that holds you back, it’s who you think you aren’t”

– 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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