Weekly Newsletter – 03-30-18

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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 price of success is hard work, dedication to the job at hand, and the determination that whether we win or lose, we have applied the best of ourselves to the task at hand.”

– Anonymous

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WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS

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Weekly Mortgage Watch – March 29, 2018

Weekly Mortgage Applications – 03-28-2018

  • 30 Year Mortgage Rate decreased to 4.44% compared to 4.45% last week. The 30 year rock bottom rate touched in last 10 years is 3.57%

  • 15 Year Mortgage Rate decreased to 3.90% compared to 3.91% last week. The 15 year rock bottom rate touched in last 10 years is 2.76%

  • 5/1 Adjustable Rate Mortgage Rate decreased to 3.66% compared to 3.68% last week. The 5 year rock bottom rate touched in last 10 years is 2.68%

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

  • Mortgage applications increased by 4.8% for the week ended March 28, 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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“When you go in search of honey you must expect to be stung by bees.”

– Joseph Joubert

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HOUSING AND ECONOMIC DATA

Unemployment Rate and Initial Claims – December 2017

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  • Initial Claim in US is at 240,600 with a 5.0% decrease in December 2017 and Initial Claim in California is at 46,076 with a 6.2% decrease in December 2017

  • Unemployment rate in US is at 4.1% with a 12.8% decrease in December 2017 and Unemployment in California is at 4.3% with a 17.3% decrease in December 2017

  • Napa MSA has the highest decrease of unemployment rate from year ago at 24.4% in December 2017

  • Santa Barbara MSA has the least decrease of unemployment rate from year ago with 9.5% change in December 2017

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Payroll and Unemployment – December 2017

US Homes Report – December 2017

  • Industrial Production Index has increased to 107.2989 in December 2017 reflecting a 3.4% increase from year ago. All Employees Total Non-farm  has increased to 147,610 in December 2017 reflecting a 1.5% increase from year ago

  • Average Initial Claims in United States decreased to 240,600 in December 2017 reflecting a 5.0% decrease from year ago. The Average Initial Claims in California decreased to 46,076 in December 2017 reflecting a 6.2% decrease from year ago

  • San Jose in California had the highest drop in Unemployment Rate in December 2017 with 27.0% decrease from year ago. 10 Year Break even Inflation rate decreased to 1.90% with 2.1% decrease from year ago. The average hourly earning of all employees has increased to 26.65 dollars per hour with 2.7% increase in December 2017

  • Personal consumption expenditures has increased to $13,717.2 Bn in December 2017 with a 4.6% increase from year ago and Personal savings rate decreased to 2.4% in December 2017 reflecting a 25.0% decrease  from year ago

  • Midwest had the least averages in Existing Home Sales at 6.3% decrease and had a 1.4% percent decrease in Existing Home Prices in December 2017

  • Existing home sales Months Supply was at 3.2 months supply reflecting 8.6% decrease from  month ago. Existing home sales Housing inventory decreased to 1,460,000 units reflecting a 12.6% 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 29th of December is 4.32% for 30 yr, 3.55% for 15  yr, 3.30% for 5 yr and Mortgage Applications increased by 0.7% for the week ending January 03, 2017

  • New privately owned housing units decreased to 1,209,000 in December 2017 reflecting a 4.7% decrease from year ago. New one family houses sold in US increased to 625,000 units with 14.1% increase from year ago and Mean Sales Price of Existing Homes decreased to $288,300 with 0.4% decrease from month ago

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“Don’t watch the clock; do what it does, keep going.”

– Sam Levenson

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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

“Never sacrifice these three things: your family, your heart, or your dignity.”

– Anonymous

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WEEKLY NEWS UPDATE!

Here’s how dollar fundamentals may have driven the new yuan fix

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The economy looks weak in the first quarter, but better days are coming

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California gains 14,000 jobs, and unemployment continues to fall

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The Manhattan Luxury-Home Market Is Screaming: I’m Overpriced!

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“Let no one discourage your ambitious attitude. You don’t need a fan club to achieve your goals.”

– 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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