Weekly Newsletter – 12-15-17

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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 deliver a product, deliver an experience.”

– Anonymous

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WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS

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Weekly Mortgage Watch – December 14, 2017

Weekly Mortgage Applications – 12-13-17

  • 30 Year Mortgage Rate decreased to 3.93% compared to 3.94% last week. The 30 year rock bottom rate touched in last 10 years is 3.32%

  • 15 Year Mortgage Rate did not move and is at 3.36% since last week. The 15 year rock bottom rate touched in last 10 years is 2.66%

  • 5/1 Adjustable Rate Mortgage Rate increased to 3.36% compared to 3.35% last week. The 5 year rock bottom rate touched in last 10 years is 2.70%

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

  • Mortgage applications decreased by 2.3% for the week ended December 13, 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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“The key to success is to start before you’re ready.”

– Anonymous

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HOUSING AND ECONOMIC DATA

Freddie Mac Mortgage Rate Trend Actuals Vs Forecasts – September 2017

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  • 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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Freddie Mac Unemployment Rate – Consumer Prices – Real GDP – Actual and Forecasts – September 2017

Fannie Mae Housing Survey – October 2017

  • Actual unemployment rate for 2nd quarter of 2017 is at 4.4%. Forecast unemployment rate for 3rd quarter and 4th quarter of 2017 will be 4.4% and 4.3% respectively. Forecast unemployment rate for 1st quarter of 2018 will be 4.4% and will increase to 4.5% in the last quarter of 2018

  • Actual CPI for 2nd quarter of 2017 is at -0.3%.  Forecast for 3rd quarter of 2017 is 2.1% and will be 2.2% in the last quarter of 2017. Forecast for 1st quarter of 2018 is 2.1% and will increase to 2.5% in the last quarter of 2018

  • Actual Real GDP is at 2.6% in 2nd quarter of 2017. Forecast for 3rd quarter of 2017 is 2.3% and will be 2.2% in the last quarter of 2017. Forecast for 1st quarter of 2018 is 2.1% and will increase to 2.2% in the last quarter of 2018

  • Share your comments on our Facebook page

  • Average Home Price Change Expectation in next 12 months is 2.3% and the Average 12 Month Rental Price Change Expectation is 4.4%

  • Home Prices will go up in the next 12 months based on 48% responses. Home Rental Prices will go up in the next 12 months based on 58% responses. Mortgage rates will go up in next 12 months based on 50% responses

  • 57% of respondents say it is a good time to buy and 61% says it’s a good time to sell. 59% says it’s easy to get a mortgage today, 67% would rather buy than rent and 48% says that economy is on the right track

  • There are 15% of respondents who are concerned about losing their job over next 12 months. 25% of respondents says that their income will be higher and 50% says their financial situation will get better over the next 12 months

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“Ideas are worthless until you get them out of your head to see what they can do”

– 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

“I may not be there yet, but I’m closer than I was yesterday.”

– Anonymous

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WEEKLY NEWS UPDATE!

Housing industry applauds FHA move to stop insuring mortgages with PACE loans

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Homebuying Doesn’t Hinge on the Mortgage Tax Break

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Another sign of the improving economy: a drop in part-time jobs

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Treasury Defends Tax Plan Cost With One-Page Analysis

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“There is no lack of knowledge out there… Just a shortage of asking for help”

– 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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