Weekly Newsletter – 02-02-18

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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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“Optimism is noticing the nice view while you are hanging over the edge of the cliff”

– Anonymous

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WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS

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Weekly Mortgage Watch – February 01, 2018

Weekly Mortgage Applications – 01-31-2018

  • 30 Year Mortgage Rate increased to 4.22% compared to 4.15% last week. The 30 year rock bottom rate touched in last 10 years is 3.53%

  • 15 Year Mortgage Rate increased to 3.68% compared to 3.62% last week. The 15 year rock bottom rate touched in last 10 years is 2.81%

  • 5/1 Adjustable Rate Mortgage Rate increased to 3.53% compared to 3.52% 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 2.6% for the week ended January 31, 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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“Before you are a leader, success is all about growing yourself. When you become a leader, success is all about growing others.”

– David Bailey

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HOUSING AND ECONOMIC DATA

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

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  • Mortgage origination Conventional loans is at $1,344 Bn in 2015. Actual for 1st quarter of 2016 is $305 Bn and is $451 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 $252 Bn 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. Actual for 1st quarter of 2016 is $400 Bn and is $583 Bn in last quarter of 2016. Forecast for 1st quarter of 2017 is $397 Bn and will increase to $413 Bn in last quarter of 2017. Forecast for 1st quarter of 2018 is $324 Bn and will increase to $402 Bn in last quarter of 2018

  • Share your comments on our Facebook page!

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

Fannie Mae Housing Survey – November 2017

  • Refinancing Share Origination actual is at 45% in 2015. Actual for 1st quarter of 2016 is 48% and is 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 3.5% in 2nd quarter of 2017. Forecast for 3rd quarter of 2017 will be 4.2% 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!

  • Average Home Price Change Expectation in next 12 months is 3.7% and the Average 12 Month Rental Price Change Expectation is 4.9%

  • Home Prices will go up in the next 12 months based on 53% responses. Home Rental Prices will go up in the next 12 months based on 60% responses. Mortgage rates will go up in next 12 months based on 56% responses

  • 61% of respondents say it is a good time to buy and 62% says it’s a good time to sell. 59% says it’s easy to get a mortgage today, 65% would rather buy than rent and 50% says that economy is on the right track

  • There are 13% 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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“You can go to work or you can be the boss”

– 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

“Working hard and working smart sometimes can be two different things.”

– Byron Dorgan

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WEEKLY NEWS UPDATE!

Experts weigh in on what the 2018 housing market will bring

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Rising interest rates cause a 2.6% pullback in weekly mortgage applications

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2018’s Housing Market Looks Good Unless You’re A First-Time Millennial Buyer

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Fannie-Freddie Bill Includes Billions for Affordable Housing

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“Keep our competitors focused on us, while we stay focused on the customer.”

– Jeff Bezos

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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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