Weekly Newsletter – 12-08-17

 

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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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“Leaders don’t create followers, they create more leaders.”

– Tom Peters

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WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS

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Weekly Mortgage Watch – December 07, 2017

Weekly Mortgage Applications – 12-06-17

  • 30 Year Mortgage Rate increased to 3.94% 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 to 3.36% compared to 3.30% last week. The 15 year rock bottom rate touched in last 10 years is 2.67%

  • 5/1 Adjustable Rate Mortgage Rate increased to 3.35% compared to 3.32% last week. The 5 year rock bottom rate touched in last 10 years is 2.69%

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

  • Mortgage applications increased by 4.7% for the week ended December 06, 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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“A business that makes nothing but money is a poor business.”

– Henry Ford

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HOUSING AND ECONOMIC DATA

Payroll and Unemployment – September 2017

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  • Industrial Production Index has increased to 105.1534 in September 2017 reflecting a 2.1% increase from year ago. All Employees Total Non-farm  has increased to 146,749 in September 2017 reflecting a 1.3% increase from year ago

  • Average Initial Claims in United States increased to 273,200 in September 2017 reflecting a 7.1% increase from year ago. The Average Initial Claims in California decreased to 36,967 in September 2017 reflecting a 3.1% decrease from year ago

  • Santa Rosa in California  had the highest drop in Unemployment Rate in September 2017 with 16.4% decrease from year ago. 10 Year Break even Inflation rate increased to 1.83% with 21.2% increase from year ago. The average hourly earning of all employees has increased to 26.54 dollars per hour with 2.8% increase in September 2017

  • Personal consumption expenditures has increased to $13,531.2 Bn in September 2017 with a 4.4% increase from year ago and Personal savings rate decreased to 3.1% in September 2017 reflecting a 31.1% decrease  from year ago

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Economic Indicators – September 2017

Bay Area County Homes Sales Report – October 2017

  • Homeownership Rate for US is 63.4% in January 2016, lowest in last 11 years. US Leading Index is at 0.87% in September 2017 reflecting a 38.3% decrease compared to last year and California Leading Index is at 0.56% in September 2017 reflecting a 74.9% decrease from year ago

  • Crude Oil prices increased to 55.49 Dollars in September 2017 reflecting a 18.6% 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 18.9 Million in September 2017 reflecting an 5.0% decrease from year ago

  • Mortgage backed securities for all maturities is $1,772,146 Mn in September 2017 reflecting a 1.2% increase from year ago.

  • Real Gross Domestic Product has increased to 17156.946 Bn Dollars with 2.3% increase from year ago. Federal Debt has decreased to 103.08854 percent of the GDP with 1.4% decrease from year ago

  • Average Bay Area county selling price for counties analysed was $1,131,311 in September 2017. Santa Clara County led with the highest average selling price at $2,164,418, followed by San Mateo County at $1,736,308, Alameda county at $910,367, Santa Cruz county at $827,901, Contra Costa County at $690,690, Monterey county at $688,326 and San Benito county at $674,466

  • Total Average Days on Market in Bay Area counties analysed was 64 days. 119 for San Benito County, 102 for Monterey County, 79 for Santa Cruz, 60 for Contra Costa county, 51 for Santa Clara, 50 for San Mateo county and Alameda County

  • Bay Area counties analyzed had Listings Sold of 4739 in September 2017. Alameda County had the highest at 1326, followed by Santa Clara County at 1255, Contra Costa County at 1113, San Mateo County at 510, Monterey County at 254, Santa Cruz County at 217 and San Benito County at 59

  • Total average Sales Price / List Price in Bay Area counties stood at 102.54% in September 2017. San Mateo County had the highest average Sales Price/ List Price at 105.96% followed by Santa Clara County at 105.35%, Alameda County at 104.73%, Contra Costa County at 101.73%, Santa Cruz County at 98.48%, Monterey County at 97.31% and San Benito County 97.03%.

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“Whenever an individual or a business decides that success has been attained progress stops.”

– Thomas J. Watson

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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

“Quality is the best business plan”

– John Lasseter

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WEEKLY NEWS UPDATE!

Senate passes sweeping GOP tax plan in early hours of Saturday morning

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Among the Tax Bill’s Biggest Losers: High-Income, Blue State Taxpayers

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Here’s what the Senate’s tax bill means for your wallet

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Mortgage rate volatility expected in the coming month

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“Work like there is someone working twenty-four hours a day to take it away from you.”

– Mark Cuban

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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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