Weekly Newsletter – 01-05-18

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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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“Best way to sell something: Don’t sell anything. Earn the awareness, respect and trust of those who might buy.”

– Jeffery Gitomer

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WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS

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Weekly Mortgage Watch – January 04, 2018

Weekly Mortgage Applications – 01-03-18

  • 30 Year Mortgage Rate decreased to 3.95% compared to 3.99% last week. The 30 year rock bottom rate touched in last 10 years is 3.34%

  • 15 Year Mortgage Rate decreased to 3.38% compared to 3.44% last week. The 15 year rock bottom rate touched in last 10 years is 2.64%

  • 5/1 Adjustable Rate Mortgage Rate decreased to 3.45% compared to 3.47% 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 increased by 0.7% for the week ended January 03, 2018

  • 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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“Self confidence is the best outfit, rock it and own it.”

– Anonymous

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HOUSING AND ECONOMIC DATA

Home Price Index – California – 2nd Quarter 2017

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  • Home Price index in US is at 399.18 with 6.4% increase from year ago in 2nd Quarter of 2017

  • California HPI is at 604.86 with 7.9% increase from year ago in 2nd Quarter of 2017

  • San Francisco MSA leads the home price index at 420.33 with 7.1% increase from year ago

  • Visalia MSA has the lowest home price index at 191.19 with 7.4% increase from year ago

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US Homes Sales Report – October 2017

US Homes Prices Report – October 2017

  • Number of units of existing home sales for month of October 2017 is at 5,480,000 and is at a 2.0% increase compared to last month

  • West census region is at 1,270,000 number of units and is at a 2.4% increase for October 2017 compared to last month. Midwest census region for October 2017 is at 1,310,000 number of units, a 0.8% increase compared to last month

  • South census region of October 2017 is at 2,160,000 number of units and is at a 1.9% increase from month ago

  • Northeast census region of October 2017 is at 64,000 number of units and is 1.6% higher than last month

  • Median Sales Price of Existing Homes in US decreased to $247,000 with a 0.2% decrease from month ago

  • Median Sales Price in West increased to $375,100 with a 0.5% increase in October 2017 compared to last month

  • Midwest median sales price decreased to $194,700 with a 0.9% decrease compared to last month and South is at $214,900 reflecting a 1.1% decrease from month ago

  • Northeast median sales price has decreased to $272,800 reflecting a 0.8% decrease from month ago

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“Go the extra mile. It’s never crowded.”

– 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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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

“Why fit in, when you can stand out?”

– Anonymous

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WEEKLY NEWS UPDATE!

Mortgage Rates Ending 2017 Slightly Below 2016

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Wiles: Economic momentum, tax changes highlight 2018 financial forecasts

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What to expect from the housing market in 2018

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Freddie Mac: Mortgage rates surge to five-month high

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“Never give up on a dream just because of the time it will take to accomplish it. The time will pass anyway.”

– 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]