Weekly Newsletter – 11-27-17

Shining Star Funding Logo VIEW ONLINE
SHORT APP
VISIT OUR SITE

FEATURED LOAN PROGRAMS

img-300-230
img-300-230

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.

img-134-31
img-134-31

“It doesn’t matter what others are doing. It matters what you are doing.”

– Anonymous

img-300-29


WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS

img-230-130
img-230-130

Weekly Mortgage Watch – November 22, 2017

Weekly Mortgage Applications – 11-22-17

  • 30 Year Mortgage Rate decreased to 3.92% compared to 3.95% last week. The 30 year rock bottom rate touched in last 10 years is 3.31%

  • 15 Year Mortgage Rate increased to 3.32% compared to 3.31% last week. The 15 year rock bottom rate touched in last 10 years is 2.63%

  • 5/1 Adjustable Rate Mortgage Rate increased to 3.22% 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 increased by 0.1% for the week ended November 22, 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!

img-134-31
img-134-31

“I am not a product of my circumstances. I am a product of my decisions.”

– Stephen Covey

img-300-29


HOUSING AND ECONOMIC DATA

Bay Area County Homes Sales Report – September 2017

img-400-300
  • Average Bay Area county selling price for counties analysed was $1107800 in September 2017. Santa Clara County led with the highest average selling price at $1834597, followed by San Mateo County at $1708119, Alameda county at $888804, Contra Costa county at $799142, Santa Cruz County at $785476, Monterey county at $764709 and San Benito county at $427514

  • Total Average Days on Market in Bay Area counties analysed was 69 days. 109 for Monterey County, 85 for Santa Cruz County, 65 for Santa Cruz, 64 for Contra Costa county, 63 for San Mateo, 54 for Santa Clara county and 53 for Alameda County

  • Bay Area counties analyzed had Listings Sold of 4553 in September 2017. Santa Clara County had the highest at 1301, followed by Alameda County at 1164, Contra Costa County at 1121, San Mateo County at 477, Monterey County at 238, Santa Cruz County at 207 and San Benito County at 41

  • Total average Sales Price / List Price in Bay Area counties stood at 102.52% in September 2017. Alameda County had the highest average Sales Price/ List Price at 105.73% followed by Santa Clara County at 104.37%, Contra Costa County at 101.53%, Santa Cruz County at 98.43%, San Benito County at 98.32% and Monterey County at 97.32%

img-134-31

img-230-300
img-230-300

US Homes Sales Report – September 2017

US Homes Prices Report – September 2017

  • Number of units of existing home sales for month of September 2017 is at 5,390,000 and is at a 0.7% increase compared to last month

  • West census region is at 1,240,000 number of units and is at a 3.3% increase for September 2017 compared to last month. Midwest census region for September 2017 is at 1,300,000 number of units, a 1.6% increase compared to last month

  • South census region of September 2017 is at 2,130,000 number of units and is at a 0.9% decrease from month ago

  • Northeast census region of September 2017 is at 64,000 number of units and is 15.8% lower than last month

  • Median Sales Price of Existing Homes in US decreased to $245,100 with a 3.2% decrease from month ago

  • Median Sales Price in West increased to $362,700 with a 3.3% increase in September 2017 compared to last month

  • Midwest median sales price decreased to $195,800 with a 2.9% decrease compared to last month and South is at $215,100 reflecting a 2.6% decrease from month ago

  • Northeast median sales price has decreased to $274,100 reflecting a 3.9% decrease from month ago

img-134-31
img-134-31

“Hire character. Train Skill.”

– Peter Schutz

img-300-29


FEATURED LOAN PROGRAM

img-400-300

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

img-134-31

img-230-300
img-230-300

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

img-134-31
img-134-31

Quick Turnaround and Closing

With inhouse underwriting and funding. Call me and let’s make it happen!

img-500-286
img-134-31
SCHEDULE A LOAN OFFICER PHONE CALL
FILL OUT THIS SHORT APPLICATION FORM NOW

“Your most unhappy customers are your greatest source of learning.”

– Bill Gates

img-300-29


WEEKLY NEWS UPDATE!

Mortgage rates rise but haven’t moved much in the past year

img-300-29

img-146-90

California’s jobless rate fell below 5% in October as employers added 31,700 jobs

img-300-29

img-146-90

Goldman Sachs: Unemployment will drop to lowest since 1969

img-300-29

img-146-90

Mortgage rates head lower ahead of big decisions from Fed, Congress

img-300-29

img-146-90

“The biggest mistake a small business can make is to think like a small business”

– Anonymous

img-300-29


OTHER NICHE LOAN PROGRAMS

Product Loan And Niches

Niche Loan Programs

img-230-130
img-230-130
  • Conventional Loan

  • FHA Loans

  • 100% VA Loans

  • Jumbo Loans

  • Zero Down Loan

  • 2 VA Loans

  • 1 Year Tax Verification

  • Remove Mortgage Insurance

img-134-31
img-134-31

Second Opinion Doesn’t Hurt!

Talk to me today about your scenario and let me help you find the perfect solution for you!

img-500-286
img-134-31
SCHEDULE A LOAN OFFICER PHONE CALL
FILL OUT THIS SHORT APPLICATION FORM NOW

    

USEFUL LINKS

Short App

Unsubscribe

 

ABOUT US AND CONTACT US

About Shining Star Funding

Telephone: 925 820 2981

Toll Free:     866 280 0020

Email:          [email protected]

image_pdfimage_print

Leave a Reply

Your email address will not be published. Required fields are marked *