Weekly Newsletter – 06-22-18

Shining Star Funding Logo VIEW ONLINE
SHORT APP
VISIT OUR SITE

FEATURED LOAN PROGRAMS

img-300-230
img-300-230

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. Borrower needs to occupy home per program guides to seek waiver.

  • Available for Conventional and FHA loans; 640+ Credit Score Needed

  • Maximum Debt to Income; FHA 45%; Conventional up to 50%

  • Grant FHA up to 4% (640+ credit score up to 3%, 660+ score up to 4%) Conventional up to 5%

img-134-31
img-134-31

“Life is short, time is fast, No replay, No rewind, So enjoy every moment as it comes.”

– Anonymous

img-300-29


WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS

img-230-130
img-230-130

Weekly Mortgage Watch – June 21, 2018

Weekly Mortgage Applications – 06-20-2018

  • 30 Year Mortgage Rate decreased to 4.57% compared to 4.62% last week. The 30 year rock bottom rate touched in last 10 years is 3.66%

  • 15 Year Mortgage Rate decreased to 4.04% compared to 4.07% last week. The 15 year rock bottom rate touched in last 10 years is 2.95%

  • 5/1 Adjustable Rate Mortgage Rate is at 3.83% since last week. The 5 year rock bottom rate touched in last 10 years is 2.77%

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

  • Mortgage applications increased by 5.1% for the week ended June 20, 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!

img-134-31
img-134-31

“You’ve got what it takes, but it will take everything you’ve got”

– Anonymous

img-300-29


HOUSING AND ECONOMIC DATA

Home Price Index – California – 4th Quarter 2017

img-400-300
  • Home Price index in US is at 385.79 with 6.3% increase from year ago in 4th Quarter of 2017

  • California HPI is at 626.9 with 8.2% increase from year ago in 4th Quarter of 2017

  • San Francisco MSA leads the home price index at 434.23 with 7.2% increase from year ago

  • Visalia MSA has the lowest home price index at 200.17 with 8.4% increase from year ago

img-134-31

img-230-300
img-230-300

Home Price Index Southern California – 4th Quarter 2017

Bay Area County Homes Sales Report – April 2018

  • Home Price index in US is at 385.79 with 6.3% increase from year ago in 4th Quarter of 2017

  • California HPI is at 626.9 with 8.2% increase from year ago in 4th Quarter of 2017

  • In Southern California, Los Angeles MSA leads the home price index at 348.84, followed by San Diego MSA at 332.1, San Luis Obispo MSA at 326.28, Oxnard MSA at 302.92, Santa Barbara MSA at 298.18, Riverside MSA at 285.31 and Visalia MSA at 200.17

  • Los Angeles MSA leads the home price index annual rate at 8.4%. Santa Barbara MSA grew at the slowest rate of 4.5%

  • Average Bay Area county selling price for counties analysed was $1,225,837 in April 2018. Santa Clara County led with the highest average selling price at $2,223,455, followed by San Mateo County at $1,903,620, Alameda county at $940,167, Santa Cruz  County at $833,854, Contra Costa County at $824,741, Monterey County at $789,734 and San Benito county at $712,218

  • Total Average Days on Market in Bay Area counties analysed was 57 days. 98 for Monterey, 63 for San Benito County, 61 for Santa Cruz County, 50 for San Mateo County and Contra Costa, 47 for Santa Clara County and 42 for Alameda County

  • Bay Area counties analyzed had Listings Sold of 4,572 in April 2018. Santa Clara County had the highest at 1,327, followed by  Alameda County at 1,181, Contra Costa  County at 1,106, San Mateo County at 462, Monterey County at 241, Santa Cruz County at 183 and San Benito County at 63

  • Sales Price to List price in April 2018 is at 105.03%. Alameda County is at 109.58%, Santa Clara County at 109.46%, San Mateo County at 108.72%, Contra Costa County at 103.11%, Santa Cruz at 100.64%, San Benito County at 99.86% and Monterey County at 98.14%

img-134-31
img-134-31

“You cannot swim for new horizons until you have courage to lise sight of the shore”

– William Faulkner

img-300-29


FEATURED LOAN PROGRAM

img-400-300

1 Year Tax Verification

  • Easy 1 year income verification for Self Employed borrowers. First loan up to $679,650. Second loan up to $350,000 – $500,000*

  • Combined up to 90% financing without MI. Family Members can cosign 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

img-134-31

img-230-300
img-230-300

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 $679,650.

  • 10% Down Loans up to $1,029,650. First loan of $679,650 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

img-134-31
img-134-31

Quick Turnaround and Closing

With inhouse underwriting and funding. Call me and let’s make it happen!

img-500-286
img-134-31
SCHEDULE A LOAN OFFICER PHONE CALL
FILL OUT THIS SHORT APPLICATION FORM NOW

“You are never too old to set another goal or to dream a new dream”

– C.S. Lewis

img-300-29


WEEKLY NEWS UPDATE!

Fed Chair Powell calls case ‘strong’ for more interest rate hikes

img-300-29

img-146-90

The 0.25% Fed Rate Increase Doesn’t Mean Mortgage Rates Will Increase 0.25%

img-300-29

img-146-90

Opinion: Why heads are exploding at the Fed

img-300-29

img-146-90

Fed Raises Interest Rates and Signals 2 More Increases Are Coming

img-300-29

img-146-90

“Pursue one great decisive aim with force and determination”

– Carl von Clausewitz

img-300-29


OTHER NICHE LOAN PROGRAMS

Product Loan And Niches

Niche Loan Programs

img-230-130
img-230-130
  • Conventional Loan

  • FHA Loans

  • 100% VA Loans

  • Jumbo Loans

  • Zero Down Loan

  • 2 VA Loans

  • 1 Year Tax Verification

  • Remove Mortgage Insurance

img-134-31
img-134-31

Second Opinion Doesn’t Hurt!

Talk to me today about your scenario and let me help you find the perfect solution for you!

img-500-286
img-134-31
SCHEDULE A LOAN OFFICER PHONE CALL
FILL OUT THIS SHORT APPLICATION FORM NOW

    

USEFUL LINKS

Short App

Unsubscribe

 

ABOUT US AND CONTACT US

About Shining Star Funding

Telephone: 925 820 2981

Toll Free:     866 280 0020

Email:          [email protected]

image_pdfimage_print

Leave a Reply

Your email address will not be published. Required fields are marked *