Weekly Newsletter – 04-13-18

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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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“Everyday is a new beginning. Take a deep breath, smile and start again”

– Anonymous

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WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS

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Weekly Mortgage Watch – April 12, 2018

Weekly Mortgage Applications – 04-11-2018

  • 30 Year Mortgage Rate increased to 4.42% compared to 4.40% last week. The 30 year rock bottom rate touched in last 10 years is 3.43%

  • 15 Year Mortgage Rate did not move at 3.87% since last week. The 15 year rock bottom rate touched in last 10 years is 2.65%

  • 5/1 Adjustable Rate Mortgage Rate decreased to 3.61% compared to 3.62% last week. The 5 year rock bottom rate touched in last 10 years is 2.62%

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

  • Mortgage applications decreased by 1.9% for the week ended April 11, 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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“Don’t let the silly little things steal your happiness.”

– Anonymous

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HOUSING AND ECONOMIC DATA

US Homes Sales Report – January 2018

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  • Number of units of existing home sales for month of January 2018 is at 5380000 and is at a 3.2% decrease compared to last month

  • West census region is at 1140000 number of units and is at a 5.0% decrease for January 2018 compared to last month. Midwest  region for January 2018 is at 1250000 number of units, a 6.0% decrease compared to last month

  • South region for January 2018 is at 2260000 number of units and is at a 1.3% decrease from month ago

  • Northeast region for January 2018 is at 40000 number of units and is 28.6% lower than last month

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US Homes Prices Report – January 2018

Housing Starts – January 2018

  • Median Sales Price of Existing Homes in US decreased to $240,500 with a 2.4% decrease from month ago

  • Median Sales Price in West increased to $362,600 with a 2.9% decrease in January 2018 compared to last month

  • Midwest median sales price decreased to $188,000 with a 1.7% decrease compared to last month and South is at $208,200 reflecting a 4.9% decrease from month ago

  • Northeast median sales price has increased to $269,100 reflecting a 2.7% increase from month ago

  • New privately owned housing unit starts increased to 200,000 units with 7.0% percent change from year ago  in Q4 of 2017

  • Housing Starts:2-4 Units is at 18,000 units in December 2017 with a 500.0% increase from year ago. Housing Starts Total: New Privately Owned housing units starts increased to 1,326,000 units with a 7.3% increase in December 2017 from year ago

  • Privately Owned Housing Starts 1 Unit Structures increased to 877,000 units with a 7.6% increase from year ago

  • Privately Owned Housing Starts 5 Unit Structures or More increased to 431,000 units with a 3.1% increase from year ago

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“Practice like you’ve never won. Perform like you’ve never lost.”

– 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

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

“Things work out best for those who make the best of how things work out.”

– John Wooden

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WEEKLY NEWS UPDATE!

Fed discussed need to slow the U.S. economy down, minutes show

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Luxury Homes Are Taking Longer to Sell and That’s Costing Owners

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Real estate funds just raised the most cash in a Q1 since 2008

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Fed’s Bullard repeats view that interest rate is close to ‘neutral’

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“No one ever made a difference by being like everyone else”

– P.T. Barnum

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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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