Weekly Newsletter – 02-09-18

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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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“Marketing without data is like driving with your eyes closed”

– Dan Zarrella

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WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS

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Weekly Mortgage Watch – February 08, 2018

Weekly Mortgage Applications – 02-07-2018

  • 30 Year Mortgage Rate increased to 4.32% compared to 4.22% last week. The 30 year rock bottom rate touched in last 10 years is 3.53%

  • 15 Year Mortgage Rate increased to 3.77% compared to 3.68% last week. The 15 year rock bottom rate touched in last 10 years is 2.77%

  • 5/1 Adjustable Rate Mortgage Rate increased to 3.57% compared to 3.53% last week. The 5 year rock bottom rate touched in last 10 years is 2.63%

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

  • Mortgage applications increased by 0.7% for the week ended February 07, 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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“Don’t guess. Measure.”

– Slava Akhmechet

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HOUSING AND ECONOMIC DATA

Consumer Price Index – November 2017

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  • San Francisco MSA leads the Primary House Rent index at 422.470 reflecting a 4.0% increase from year ago followed by Los Angeles at 355.126 reflecting a 4.9% increase from year ago. National index is at 312.670 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 259.135 with 3.6% increase from year ago and National at 247.592 with a 2.2% increase from year ago

  • San Francisco MSA housing index leads at 328.638 with a 3.5% increase compared to Los Angeles at 291.580 with 3.6% increase and National at 253.177 with 2.8% increase from year ago

  • Share your comments on our Facebook page

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Bay Area County Homes Sales Report – November 2017

US Homes Sales Report – November 2017

  • Average Bay Area county selling price for counties analysed was $1,143,802 in November 2017. Santa Clara County led with the highest average selling price at $2,026,993, followed by San Mateo County at $1,714,336, Alameda county at $1,017,418, Monterey County at $829,815, Santa Cruz County at $776,145, Contra Costa County at $701,859 and San Benito county at $642,179

  • Total Average Days on Market in Bay Area counties analysed was 72 days. 102 for Monterey County, 95 for Santa Cruz County, 88 for San Benito County, 76 for Alameda County, 60 for Contra Costa County and Santa Clara County and 58 days for San Mateo County

  • Bay Area counties analyzed had Listings Sold of 4,322 in November 2017. Alameda County had the highest at 1,179, followed by Santa Clara County at 1,112, Contra Costa County at 1,037, San Mateo County at 495, Monterey County at 230, Santa Cruz County at 214 and San Benito County at 47

  • Total average Sales Price / List Price in Bay Area counties stood at 101.96% in November 2017. Santa Clara County had the highest average Sales Price/ List Price at 105.87% followed by Alameda County at 105.23%, San Mateo County at 105.01%, Contra Costa County at 101.06%, San Benito County at 96.98%, Monterey County at 96.46% and Santa Cruz County 96.32%.

  • Number of units of existing home sales for month of November 2017 is at 5,810,000 and is at a 5.6% increase compared to last month

  • West census region is at 1,250,000 number of units and is at a 2.3% decrease for November 2017 compared to last month. Midwest  region for November 2017 is at 1,420,000 number of units, a 8.4% increase compared to last month

  • South region for November 2017 is at 2,340,000 number of units and is at a 8.3% increase from month ago

  • Northeast region for November 2017 is at 58,000 number of units and is 9.4% lower than last month

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“Option A is not available. So let’s kick the shit out of option B.”

– Sheryl Sandberg

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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

“Marketing is enthusiasm transferred to the customer”

– Gregory Ciotti

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WEEKLY NEWS UPDATE!

Mortgage rates hit 14-month high as bonds sell off

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Look out below: more U.S. dollar weakness to come, says currency expert

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Mortgage volume stalls as rates rise to the highest level in four years

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Mortgage rates move upward for Wednesday

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“Create the highest, grandest vision possible for your life, because you become what you believe”

– 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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