Weekly Newsletter – 05-25-18

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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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“This like the person you want to become.”

– Anonymous

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WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS

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Weekly Mortgage Watch – May 24, 2018

Weekly Mortgage Applications – 05-23-2018

  • 30 Year Mortgage Rate increased to 4.66% compared to 4.61% last week. The 30 year rock bottom rate touched in last 10 years is 3.59%

  • 15 Year Mortgage Rate increased to 4.15% compared to 4.08% last week. The 15 year rock bottom rate touched in last 10 years is 2.77%

  • 5/1 Adjustable Rate Mortgage Rate increased to 3.87% compared to 3.82% 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 decreased by 2.6% for the week ended May 23, 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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“Passion equals drive, drive equals determination, and enough determination equals success.”

– Anette Sandberg

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HOUSING AND ECONOMIC DATA

US Homes Sales Report – March 2018

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  • Number of units of existing home sales for month of March 2018 is at 5,600,000 and is at a 1.1% increase compared to last month

  • West census region is at 1,230,000 number of units and is at a 3.1% decrease for March 2018 compared to last month. Midwest  region for March 2018 is at 1,290,000 number of units, a 5.7% increase compared to last month

  • South region for March 2018 is at 2,400,000 number of units and is at a 0.4% decrease from month ago

  • Northeast region for March 2018 is at 48,000 number of units and is 33.3% higher than last month

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Housing Starts – March 2018

US Homes Report – March 2018

  • 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 13,000 units in March 2018 with a 30% increase from year ago. Housing Starts Total: New Privately Owned housing units starts increased to 1,319,000 units with a 10.9% increase in March 2018 from year ago

  • Privately Owned Housing Starts 1 Unit Structures increased to 867,000 units with a 5.2% increase from year ago

  • Privately Owned Housing Starts 5 Unit Structures or More increased to 439,000 units with a 23.7% increase from year ago

  • Northeast had the highest averages in Existing Home Sales at 33.3% increase and midwest had a 7.4% percent increase in Existing Home Prices in March 2018

  • Existing home sales Months Supply was at 3.6 months supply reflecting 5.9% increase from  month ago. Existing home sales Housing inventory increased to 1,670,000 units reflecting a 5.7% increase from month ago

  • SFR Delinquency Rate this 4th Quarter of 2017 is at 3.54% reflecting a 14.3% decrease from year ago, Mortgage Rate Reading for 29th of March is 4.44% for 30 yr, 3.90% for 15  yr, 3.66% for 5 yr and Mortgage Applications increased by 4.8% for the week ending March 28, 2017

  • New privately owned housing units increased to 1,319,000 in March 2018 reflecting a 10.9% increase from year ago. New one family houses sold in US increased to 694,000 units with 8.8% increase from year ago and Mean Sales Price of Existing Homes increased to $290,100 with 3.4% increase from month ago

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“Our passion is our strength”

– Billie Joe Armstrong

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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

“Your level of success is determined by your level of discipline and perseverance.”

– Anonymous

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WEEKLY NEWS UPDATE!

Markets are failing to appreciate how much further earnings have to grow, asset manager says

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Fed signals ‘accommodative’ approach to U.S. interest rates nearing an end

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U.S. economy given boost from factories even as housing cooled in April: Chicago Fed

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Best Real Estate Markets for Homeowners in the U.S.

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“Failure keeps you humble, success keeps you glowing, but only faith and determination keeps you going.”

– 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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