Weekly Newsletter – 01-19-18

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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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“In the business world, everyone is paid in two coins: cash and experience. Take the experience first; the cash will come later.”

– Harold S. Geneen

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WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS

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Weekly Mortgage Watch – January 18, 2018

Weekly Mortgage Applications – 01-17-18

  • 30 Year Mortgage Rate increased to 4.04% compared to 3.99% last week. The 30 year rock bottom rate touched in last 10 years is 3.38%

  • 15 Year Mortgage Rate increased to 3.49% compared to 3.44% last week. The 15 year rock bottom rate touched in last 10 years is 2.66%

  • 5/1 Adjustable Rate Mortgage Rate didn’t change at 3.46% since 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 4.1% for the week ended January 17, 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 had a purpose before anyone had an opinion.”

– Anonymous

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HOUSING AND ECONOMIC DATA

Payroll and Unemployment – October 2017

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  • Industrial Production Index has increased to 106.1469 in October 2017 reflecting a 2.9% increase from year ago. All Employees Total Non-farm  has increased to 146,749 in October 2017 reflecting a 1.3% increase from year ago

  • Average Initial Claims in United States decreased to 232,500 in October 2017 reflecting a 8.4% decrease from year ago. The Average Initial Claims in California decreased to 42,005 in October 2017 reflecting a 3.9% decrease from year ago

  • San Francisco in California  had the highest drop in Unemployment Rate in October 2017 with 21.1% decrease from year ago. 10 Year Break even Inflation rate increased to 1.86% with 11.4% increase from year ago. The average hourly earning of all employees has increased to 26.53 dollars per hour with 2.4% increase in October 2017

  • Personal consumption expenditures has increased to $13,557.4 Bn in October 2017 with a 4.2% increase from year ago and Personal savings rate decreased to 3.2% in October 2017 reflecting a 22.0% decrease  from year ago

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Unemployment Rate and Initial Claims – October 2017

Economic Indicators – October 2017

  • Initial Claim in US is at 232,500 with a 8.4% decrease in October 2017 and Initial Claim in California is at 42,005 with a 3.9% decrease in October 2017

  • Unemployment rate in US is at 4.1% with a 14.6% decrease in October 2017 and Unemployment in California is at 4.9% with a 7.5% decrease in October 2017

  • San Francisco MSA has the highest decrease of unemployment rate from year ago at 21.1% in October 2017

  • Visalia MSA has the least decrease of unemployment rate from year ago with 8.1% change in October 2017

  • Homeownership Rate for US is 63.4% in January 2016, lowest in last 11 years. US Leading Index is at 1.72% in September 2017 reflecting a 28.4% increase compared to last year and California Leading Index is at 2.41% in September 2017 reflecting a 30.3% decrease from year ago

  • Crude Oil prices increased to 57.16 Dollars in September 2017 reflecting a 15.0% increase from year ago. Federal Deficit was at -3.13915% in January 2016 reflecting a 29.7% increase from year ago. Total Vehicles sales increased to 18.4 Million in September 2017 reflecting an 1.1% increase from year ago

  • Mortgage backed securities for all maturities is $1,771,207 Mn in September 2017 reflecting a 1.8% increase from year ago.

  • Real Gross Domestic Product has increased to 17169.733 Bn Dollars with 2.3% increase from year ago. Federal Debt has decreased to 103.77218 percent of the GDP with 0.7% decrease from year ago

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“If you don’t have time to do it right, when will you have time to do it over?”

– John Wooden

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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

“Look in the mirror… That’s your competition.”

– Anonymous

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WEEKLY NEWS UPDATE!

Mortgage applications rise 4.1% as borrowers see last chance to

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Poll Finds Upturn in Sentiment on Tax Overhaul and Economy

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Apple commits to contribute over $350 billion into US economy over the next five years

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2018’s Higher Federal Conforming Mortgage Loan Limits Signal Confidence In The Housing Market

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“Become so financially secure that you forget that it’s payday.”

– 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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