Weekly Newsletter – 06-01-18

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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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“Your true success in life begins only when you make the commitment to become excellent at what you do.”

– Brian Tracy

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WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS

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Weekly Mortgage Watch – May 31, 2018

Weekly Mortgage Applications – 05-30-2018

  • 30 Year Mortgage Rate decreased to 4.56% compared to 4.66% last week. The 30 year rock bottom rate touched in last 10 years is 3.75%

  • 15 Year Mortgage Rate decreased to 4.06% compared to 4.15% last week. The 15 year rock bottom rate touched in last 10 years is 2.97%

  • 5/1 Adjustable Rate Mortgage Rate decreased to 3.80% compared to 3.87% last week. The 5 year rock bottom rate touched in last 10 years is 2.66%

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

  • Mortgage applications decreased by 2.9% for the week ended May 30, 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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“Everyone wants to be successful until they see what it actually takes”

– Anonymous

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HOUSING AND ECONOMIC DATA

Unemployment Rate and Initial Claims – March 2018

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  • Initial Claim in US is at 228,600 with a 9.5% decrease in March 2018 and Initial Claim in California is at 41,540 with a 4.8% decrease in March 2018

  • Unemployment rate in US is at 4.1% with a 8.9% decrease in March 2018 and Unemployment in California is at 4.3% with a 14% decrease in March 2018

  • San Luis Obispo MSA has the highest decrease of unemployment rate from year ago at 26.3% in March 2018

  • Los Angeles MSA has the least decrease of unemployment rate from year ago with 13.0% change in March 2018

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Payroll and Unemployment – March 2018

Economic Indicators – March 2018

  • Industrial Production Index has increased to 107.1665 in March 2018 reflecting a 4.3% increase from year ago. All Employees Total Non-farm  has increased to 148,260 (in thousands)  in March 2018 reflecting a 1.6% increase from year ago

  • Average Initial Claims in United States decreased to 228,600 in March 2018 reflecting a 9.5% decrease from year ago. The Average Initial Claims in California decreased to 41,540 in March 2018 reflecting a 4.8% decrease from year ago

  • San Luis Obispo in California had the highest drop in Unemployment Rate in March 2018 with 26.3% decrease from year ago. 10 Year Break even Inflation rate increased to 2.09% with 4.7% increase from year ago. The average hourly earning of all employees has increased to 26.80 dollars per hour with 2.6% increase in March 2018

  • Personal consumption expenditures has increased to $13,823.9 Bn in March 2018 with a 5.1% increase from year ago and Personal savings rate decreased to 3.1% in March 2018 reflecting a 20.5% decrease  from year ago

  • Homeownership Rate for US is 63.9% in January 2017. US Leading Index is at 1.51% in March 2018 reflecting a 0% increase compared to last year and California Leading Index is at 1.37% in March 2018 reflecting a 46.7% decrease from year ago

  • Major Currencies decreased to 99.275 reflecting a 8.0% decrease from year ago. Gold Fixing Price increased to 1,324.657 reflecting 7.6% increase from year ago. Crude Oil prices increased to 66.27 Dollars in March 2018 reflecting a 28.0% increase from year ago. Federal Deficit was at  -3.43141% in March 2018 reflecting a 9.3% increase from year ago. Total Vehicles sales is 17.8 Million in March 2018 reflecting a 4.1% increase from year ago

  • Mortgage backed securities for all maturities is $1,761,530 Mn in March 2018 reflecting a 0.4% decrease from year ago

  • Real Gross Domestic Product has increased to 17,385.831 Bn Dollars with 2.9% increase from year ago. Federal Debt has decreased to 103.73920 percent of the GDP with 1.8% decrease from year ago

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“Hard work and determination equals success. Nothing comes easy. Put your mind to something”

– Kevin Hart

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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

“Failure will never overtake me if my determination to success is strong enough.”

– Og Mandino

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WEEKLY NEWS UPDATE!

The U.S. Economy Is Growing a Little Slower than Initially Believed

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US factories shift into ‘higher gear’ despite trade worries, Fed says

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New Milestones in Jobs Report Signal a Bustling Economy

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U.S. Pending Home Sales Unexpectedly Decline on Lean Listings

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“Success is the sum of all small efforts, repeated day in and day out.”

– 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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