Weekly Newsletter – 03-16-18

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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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“Serious-minded people have few ideas. People with ideas are never serious.”

– Paul valery

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WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS

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Weekly Mortgage Watch – March 15, 2018

Weekly Mortgage Applications – 03-14-2018

  • 30 Year Mortgage Rate decreased to 4.44% compared to 4.46% last week. The 30 year rock bottom rate touched in last 10 years is 3.63%

  • 15 Year Mortgage Rate decreased to 3.90% compared to 3.94% last week. The 15 year rock bottom rate touched in last 10 years is 2.79%

  • 5/1 Adjustable Rate Mortgage Rate increased to 3.67% compared to 3.63% last week. The 5 year rock bottom rate touched in last 10 years is 2.61%

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

  • Mortgage applications increased by 0.9% for the week ended March 14, 2018

  • Mortgage apps move in the inverse direction of rates

  • Rates are still 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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“A brand is what a business does, reputation is what people remember”

– Ted Rubin

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HOUSING AND ECONOMIC DATA

Fannie Mae Housing Survey – December 2017

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  • Average Home Price Change Expectation in next 12 months is 3.3% and the Average 12 Month Rental Price Change Expectation is 5.2%

  • Home Prices will go up in the next 12 months based on 50% responses. Home Rental Prices will go up in the next 12 months based on 61% responses. Mortgage rates will go up in next 12 months based on 56% responses

  • 58% of respondents say it is a good time to buy and 62% says it’s a good time to sell. 52% says it’s easy to get a mortgage today, 69% would rather buy than rent and 52% says that economy is on the right track

  • There are 15% of respondents who are concerned about losing their job over next 12 months. 26% of respondents says that their income will be higher and 49% says their financial situation will get better over the next 12 months

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Consumer Price Index – December 2017

US Homes Sales Report – December 2017

  • San Francisco MSA leads the Primary House Rent index at 428.426 reflecting a 4.8% increase from year ago followed by Los Angeles at 356.235 reflecting a 5.0% increase from year ago. National index is at 313.904 reflecting a 3.7% increase from year ago

  • CPI for all items in San Francisco is highest at 277.414 with 2.9% increase from year ago compared to Los Angeles at 259.220 with 3.6% increase from year ago and National at 247.910 with a 2.1% increase from year ago

  • San Francisco MSA housing index leads at 329.209 with a 3.8% increase compared to Los Angeles at 292.603 with 3.6% increase and National at 253.845 with 2.9% increase from year ago

  • Share your comments on our Facebook page

  • Number of units of existing home sales for month of December 2017 is at 5,570,000 and is at a 3.6% decrease compared to last month

  • West census region is at 1,200,000 number of units and is at a 1.6% decrease for December 2017 compared to last month. Midwest  region for December 2017 is at 1,330,000 number of units, a 6.34% decrease compared to last month

  • South region for December 2017 is at 2,300,000 number of units and is at a 1.7% decrease from month ago

  • Northeast region for December 2017 is at 56,000 number of units and is 3.4% lower than last month

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“You can’t use up creativity. The more you use the more you have”

– Maya Angelou

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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

Jumbo 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

  • 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

“People do not buy goods and services. They buy relations, stories and magic.”

– Seth Godin

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WEEKLY NEWS UPDATE!

Mortgage rates up for Monday

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Mortgage application volume up despite rising interest rates

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Here’s what faster inflation and rising mortgage rates mean for housing

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High housing prices signal a danger of reckoning to come

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“Your positive action combined with positive thinking results in success.”

– Shiv Khera

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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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