Weekly Newsletter – 11-17-17

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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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“A satisfied customer is the best business strategy of all.”

– Anonymous

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WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS

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Weekly Mortgage Watch – November 16, 2017

Weekly Mortgage Applications – 11-15-17

  • 30 Year Mortgage Rate increased at 3.95% compared to 3.90% last week. The 30 year rock bottom rate touched in last 10 years is 3.34%

  • 15 Year Mortgage Rate increased at 3.31% compared to 3.24% last week. The 15 year rock bottom rate touched in last 10 years is 2.65%

  • 5/1 Adjustable Rate Mortgage Rate decreased to 3.21% compared to 3.22% 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 increased to 3.1% for the week ended November 15, 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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“Competitors understand business the best”

– M. Cobanli

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HOUSING AND ECONOMIC DATA

Freddie Mac Percentages – ARM – Refinancing Applications and Origination – Refinancing Debt – Actual Vs Forecast – August 2017

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  • Refinancing Share Origination actual is at 45% in 2015. Forecast for 1st quarter of 2016 is 51% and will decrease to 50% in the last quarter of 2016. Forecast for 1st quarter of 2017 is at 42% and will be 32% by 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 2.5% in 1st quarter of 2017. Forecast for 2nd quarter of 2017 will be 4.0% 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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Fannie Mae Housing Survey – September 2017

Consumer Price Index – September 2017

  • Average Home Price Change Expectation in next 12 months is 2.7% and the Average 12 Month Rental Price Change Expectation is 4.4%

  • Home Prices will go up in the next 12 months based on 50% responses. Home Rental Prices will go up in the next 12 months based on 57% responses. Mortgage rates will go up in next 12 months based on 53% responses

  • 59% of respondents say it is a good time to buy and 64% says it’s a good time to sell. 55% says it’s easy to get a mortgage today, 67% would rather buy than rent and 47% says that economy is on the right track

  • There are 12% of respondents who are concerned about losing their job over next 12 months. 27% of respondents says that their income will be higher and 50% says their financial situation will get better over the next 12 months

  • San Francisco MSA leads the Primary House Rent index at 419.055 reflecting a 4.6% increase from year ago followed by Los Angeles at 351.705 reflecting a 5.0% increase from year ago. National index is at 310.268 reflecting a 3.8% 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 257.890 with 3.1% increase from year ago and National at 246.373 with a 2.2% increase from year ago

  • San Francisco MSA housing index leads at 326.813 with a 4.8% increase compared to Los Angeles at 289.765 with 3.5% increase and National at 252.984 with 2.8% increase from year ago

  • Share your comments on our Facebook page

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“It’s not about ideas. It’s about making ideas happen.”

– Anonymous

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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

“Man needs his difficulties because they are necessary to enjoy success.”

– A. P. J. Abdul Kalam

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WEEKLY NEWS UPDATE!

Mortgage subsidies take center stage in tax debate

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Forget listing prices; affordable housing is historically high

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Mortgage rates quiet, awaiting tax reform outcome

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Digital mortgages advancing, but borrowers still want more speed

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“At first they’ll ask you why you’re doing it. Later they’ll ask you how you did it.”

– 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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