Weekly Newsletter – 06-08-18

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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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“Happiness often sneaks in through a door you didn’t know you left open”

– John Barrymore

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WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS

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Weekly Mortgage Watch – June 07, 2018

Weekly Mortgage Applications – 06-06-2018

  • 30 Year Mortgage Rate decreased to 4.54% compared to 4.56% last week. The 30 year rock bottom rate touched in last 10 years is 3.67%

  • 15 Year Mortgage Rate decreased to 4.01% compared to 4.06% last week. The 15 year rock bottom rate touched in last 10 years is 3.03%

  • 5/1 Adjustable Rate Mortgage Rate decreased to 3.74% compared to 3.80% last week. The 5 year rock bottom rate touched in last 10 years is 2.74%

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

  • Mortgage applications increased by 4.1% for the week ended June 06, 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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“Success occurs when your dreams get bigger than your excuses”

– Anonymous

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HOUSING AND ECONOMIC DATA

Freddie Mac Mortgage Rate Trend Actuals Vs Forecasts – March 2018

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  • 30 year Fixed Mortgage Actual Rate is 3.9% in 4th quarter of 2017. Forecast for 1st quarter of 2018 is 4.3% and will increase to 4.9% in 4th quarter of 2018. Forecast for 1st quarter of 2019 is 4.9% and will increase to 5.4% in 4th quarter of 2019

  • 10 year Const. Mat. Treas Actual Rate increased to 2.4% in 4th quarter of 2017. Forecast for 1st quarter of 2018 is 2.8% and will increase to 3.2% in last quarter of 2018. Forecast for 1st quarter of 2019 is 3.3% and will increase to 3.7% in last quarter of 2019

  • 5/1 year Hybrid Treasury Indexed ARM Actual Rate is 3.3% in 4th quarter of 2017. Forecast for 1st quarter of 2018 is 3.6% and will increase to 4.4% in last quarter of 2018. Forecast for 1st quarter of 2019 is 4.4% and will increase to 4.9% in last quarter of 2019

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Freddie Mac Unemployment Rate – Consumer Prices – Real GDP – Actual and Forecasts – March 2018

Freddie Mac Housing Starts – Home Sales – House Price Appreciation – Home Price Index – Actual and Forecasts – March 2018

  • Actual unemployment rate for 4th quarter of 2017 is at 4.1%. Forecast unemployment rate for 1st quarter of 2018 will be 4.1% and will decrease to 3.8% in the last quarter of 2018. Forecast unemployment rate for 1st quarter of 2019 will be 3.9% and will decrease to 4.1% in the last quarter of 2019

  • Actual CPI for 4th quarter of 2017 is at 3.7%. Forecast for 1st quarter of 2018 is 3.2% and will increase to 2.4% in the last quarter of 2018. Forecast for 1st quarter of 2019 is 2.2% and will increase to 2.5% in the last quarter of 2019

  • Actual Real GDP is at 2.5% in 4th quarter of 2017. Forecast for 1st quarter of 2018 is 2.9% and will decrease to 2.3% in the last quarter of 2018. Forecast for 1st quarter of 2019 is 2.2% and will decrease to 2.0% in the last quarter of 2018

  • Share your comments on our Facebook page

  • Housing Starts actual is 1.25 MN in 4th quarter of 2017. Forecast for 1st quarter of 2018 is 1.26 Mn going up to 1.33 Mn in last quarter of 2018. Forecast for 1st quarter of 2019 is 1.36 Mn going up to 1.43 Mn in last quarter of 2019

  • Total Home Sales Actual decreased to 6.25 Mn in 4th quarter 2017. Total Home sales for 2018 is at 6.23 Mn in 1st quarter and up to 6.43 Mn in the last quarter of 2018. Total Home sales for 2019 is at 6.42 Mn in 1st quarter and up to 6.47 Mn in the last quarter of 2019

  • FMHPI house price appreciation actual is at 1.8% in 4th quarter of 2017. House price appreciation forecast for 2018 is at 1.1% in the 1st quarter and 1.3% in the last quarter. House price appreciation forecast for 2019 is at 1.2% in the 1st quarter and 1.0% in the last quarter of 2019

  • Share your comments on our Facebook page!

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“Don’t let someone else’s opinion of you become your reality”

– Les Brown

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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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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

“Determination with an optimistic attitude is th key to success”

– Dalai Lama

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WEEKLY NEWS UPDATE!

Mortgage interest rates 2018: Rates hit 7-year high, slow home sales

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Hot economy is a good time for investors to take risks: Market expert

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Tax hurts investment in medical device research and development

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Will these California cities impose a ‘Google tax’ or an ‘Apple tax’?

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“Ambition is the path to success, persistence is the vehicle you arrive in”

– William Eardley IV

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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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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

    

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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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