Weekly Newsletter – 01-12-18

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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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“The secret to success is to know something nobody else knows.”

– Aristotle

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WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS

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Weekly Mortgage Watch – January 11, 2018

Weekly Mortgage Applications – 01-10-18

  • 30 Year Mortgage Rate increased to 3.99% compared to 3.95% last week. The 30 year rock bottom rate touched in last 10 years is 3.40%

  • 15 Year Mortgage Rate increased to 3.44% compared to 3.38% last week. The 15 year rock bottom rate touched in last 10 years is 2.66%

  • 5/1 Adjustable Rate Mortgage Rate increased to 3.46% compared to 3.45% last week. The 5 year rock bottom rate touched in last 10 years is 2.67%

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

  • Mortgage applications increased by 8.3% for the week ended January 10, 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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“You were born to win, but to be a winner, you must plan to win, prepare to win and expect to win.”

– Zig Ziglar

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HOUSING AND ECONOMIC DATA

Housing Starts – October 2017

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  • New privately owned housing unit starts increased to 230,000 units with 11.7% percent change from year ago  in Q3 of 2017

  • Housing Starts:2-4 Units is at 20,000 units in October 2017 with a 100% increase from year ago. Housing Starts Total: New Privately Owned housing units starts decreased to 1,290,000 units with a 2.9% decrease in October 2017 from year ago

  • Privately Owned Housing Starts 1 Unit Structures increased to 877,000 units with a 0.7% increase from year ago

  • Privately Owned Housing Starts 5 Unit Structures or More decreased to 393,000 units with a 12.1% decrease from year ago

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Consumer Price Index – October 2017

US Homes Report – October 2017

  • San Francisco MSA leads the Primary House Rent index at 421,940 reflecting a 4.9% increase from year ago followed by Los Angeles at 353.494 reflecting a 4.8% increase from year ago. National index is at 311.501 reflecting a 3.7% increase from year ago

  • CPI for all items in San Francisco is highest at 277.570 with 2.7% increase from year ago compared to Los Angeles at 258.883 with 3.1% increase from year ago and National at 246.639 with a 2.0% increase from year ago

  • San Francisco MSA housing index leads at 328.638 with a 3.5% increase compared to Los Angeles at 292.390 with 3.8% increase and National at 253.125 with 2.8% increase from year ago

  • Share your comments on our Facebook page

  • West had the highest averages in Existing Home Sales at 2.4% increase and South had a 1.1% percent decrease in Existing Home Prices in October 2017

  • Existing home sales Months Supply was at 3.9 months supply reflecting 7.1% decrease from  month ago. Existing home sales Housing inventory decreased to 1,800,000 units reflecting a 3.2% decrease from month ago

  • SFR Delinquency Rate this 3rd Quarter of 2017 is at 3.62% reflecting a 17.0% decrease from year ago, Mortgage Rate Reading for 19th of October is 3.88% for 30 yr, 3.19% for 15  yr, 3.17% for 5 yr and Mortgage Applications decreased by 3.6% for the week ending October 18, 2017

  • New privately owned housing units decreased to 1,290,000 in October 2017 reflecting a 2.9% decrease from year ago. New one family houses sold in US increased to 685,000 units with 18.7% increase from year ago and Mean Sales Price of Existing Homes decreased to $288,400 with 0.4% decrease from month ago

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“Have a very good reason for everything you do.”

– Laurence Olivier

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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

“Trust yourself. You know more than you think you do.”

– Anonymous

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WEEKLY NEWS UPDATE!

Mortgage applications shoot up 8.3% to start the year

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Mortgage rates move upward for Wednesday

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U.S. Job Market’s Strength Is Allowing More to Share in Pay Gains

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How The New Tax Law Will Impact Your Housing Costs

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“Forget failure. Forget Mistakes. Forget Everything except what you’re going to do not. And do it”

– 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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