Weekly Newsletter – 12-22-17

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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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“To be outstanding, get comfortable with being uncomfortable.”

– Anonymous

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WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS

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Weekly Mortgage Watch – December 21, 2017

Weekly Mortgage Applications – 12-20-17

  • 30 Year Mortgage Rate increased to 3.94% compared to 3.93% last week. The 30 year rock bottom rate touched in last 10 years is 3.37%

  • 15 Year Mortgage Rate increased to 3.38% compared to 3.36% last week. The 15 year rock bottom rate touched in last 10 years is 2.65%

  • 5/1 Adjustable Rate Mortgage Rate increased to 3.39% compared to 3.36% last week. The 5 year rock bottom rate touched in last 10 years is 2.71%

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

  • Mortgage applications decreased by 4.9% for the week ended December 20, 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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“You can’t look at the competition and say you’re going to do it better. You have to look at the competition and say you’re going to do it differently.”

– Steve Jobs

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HOUSING AND ECONOMIC DATA

Freddie Mac Housing Starts – Home Sales – House Price Appreciation – Home Price Index – Actual and Forecasts – September 2017

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  • Housing Starts actual decreased to 1.17 Mn in 2nd quarter of 2017. Forecast for 3rd quarter of 2017 is 1.21 Mn going up to 1.26 Mn in last quarter of 2017. Forecast for 1st quarter of 2018 is 1.30 Mn going up to 1.35 Mn in last quarter of 2018

  • Total Home Sales Actual decreased to 6.16 Mn in 2nd quarter 2017. Forecast for Total Home sales for 2017 is at 6.10 Mn in 3rd quarter of 2017. Total Home sales for 2018 is at 6.15 Mn in 1st quarter and up to 6.40 Mn in the last quarter

  • FMHPI house price appreciation actual is at 1.7% in 2nd quarter of 2017. House price appreciation forecast for 2017 is at 1.3% in the 3rd quarter of 2017. House price appreciation forecast for 2018 is at 1.3% in the 1st quarter and 1.1% in the last quarter

  • Share your comments on our Facebook page!

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Freddie Mac 1-4 Family Mortgage Origination – Conventional – FHA and VA – Actual and Forecasts – September 2017

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

  • Mortgage origination Conventional loans is at $1,344 Bn in 2015. Forecast for 1st quarter of 2016 is $295 Bn and will increase to $458 Bn in last quarter of 2016. Forecast for 1st quarter of 2017 is $290 Bn and will increase to $321 Bn in last quarter of 2017. Forecast for 1st quarter of 2018 is $252Bn and will increase to $316 Bn in last quarter of 2018

  • Mortgage origination for FHA and VA increased to $113 Bn in 2nd quarter of 2017 compared to $107 Bn in the 1st quarter of 2017. Forecast for 3rd quarter of 2017 will be $112 Bn and forecast for last quarter of 2017 will be $92 Bn. Forecast for 1st quarter of 2018 will be $72 Bn and last quarter of 2018 will be $86 Bn

  • Mortgage origination Total increased to $1,750 Bn in 2015. Forecast for 1st quarter of 2016 is $390 Bn and  upto $590 Bn in the last quarter. Forecase for 1st quarter of 2017 is $397 Bn and $413 Bn in the last quarter of 2017.  Forecast for 1st quarter of 2018 will be $324 Bn and last quarter of 2018 will be $402 Bn

  • Share your comments on our Facebook page!

  • 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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“Greatness is not what you have, it’s what you give.”

– Anonymous

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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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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

“Setting goals is the first step in turning the invisible into visible”

– Tony Robbins

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WEEKLY NEWS UPDATE!

Weekly mortgage applications fall 2.3% as rates rise

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First-time homebuyers suddenly flood housing market

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For Purchase Applications, This December is Better Than The Last

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Freddie Mac unveils plan to fix affordable housing shortage

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“Success means never letting the competition define you. Instead, you have to define yourself based on a point of view you care deeply about”

– Tom Chappell

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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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