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FEATURED LOAN PROGRAMS

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203K Renovation Loans

True Grant

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

  • 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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"If people like you they will listen to you, but if they trust you, they'll do business with you."

- Zig Ziglar

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WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS

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Weekly Mortgage Watch - February 15, 2018

Weekly Mortgage Applications - 02-14-2018

  • 30 Year Mortgage Rate increased to 4.38% compared to 4.32% last week. The 30 year rock bottom rate touched in last 10 years is 3.53%

  • 15 Year Mortgage Rate increased to 3.84% compared to 3.77% last week. The 15 year rock bottom rate touched in last 10 years is 2.77%

  • 5/1 Adjustable Rate Mortgage Rate increased to 3.63% compared to 3.57% last week. The 5 year rock bottom rate touched in last 10 years is 2.64%

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

  • Mortgage applications decreased by 4.1% for the week ended February 14, 2018

  • Mortgage apps move in the inverse direction of rates

  • Rates are still extremely 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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"It is better to fail in originality than to succeed in imitation."

- Herman Melville

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HOUSING AND ECONOMIC DATA

US Homes Prices Report - November 2017

 

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  • Median Sales Price of Existing Homes in US decreased to $248,000 with a 0.8% increase from month ago

  • Median Sales Price in West increased to $375,100 with a 0.2% decrease in November 2017 compared to last month

  • Midwest median sales price decreased to $196,100 with a 2.0% increase compared to last month and South is at $216,200 reflecting a 1.3% increase from month ago

  • Northeast median sales price has decreased to $273,600 reflecting a 0.3% increase from month ago

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Housing Starts - November 2017

US Homes Report - November 2017

  • New privately owned housing unit starts increased to 230,000 units with 11.7% percent change from year ago  in Q3 of 2017

  • Housing Starts:2-4 Units is at 8,000 units in November 2017 with a 166.7% increase from year ago. Housing Starts Total: New Privately Owned housing units starts increased to 1,297,000 units with a 12.9% increase in November 2017 from year ago

  • Privately Owned Housing Starts 1 Unit Structures increased to 930,000 units with a 13.1% increase from year ago

  • Privately Owned Housing Starts 5 Unit Structures or More decreased to 359,000 units with a 11.1% decrease from year ago

  • Midwest had the highest averages in Existing Home Sales at 8.4% increase and had a 2.0% percent increase in Existing Home Prices in November 2017

  • Existing home sales Months Supply was at 3.4 months supply reflecting 12.8% decrease from  month ago. Existing home sales Housing inventory decreased to 1,670,000 units reflecting a 7.2% decrease from month ago

  • SFR Delinquency Rate this 3rd Quarter of 2017 is at 3.62% reflecting a 17.0% decrease from year ago, Mortgage Rate Reading for 30th of November is 3.90% for 30 yr, 3.30% for 15  yr, 3.32% for 5 yr and Mortgage Applications decreased by 3.1% for the week ending November 29, 2017

  • New privately owned housing units decreased to 1,297,000 in November 2017 reflecting a 12.9% decrease from year ago. New one family houses sold in US increased to 733,000 units with 26.6% increase from year ago and Mean Sales Price of Existing Homes decreased to $289,900 with 0.8% increase from month ago

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"If you aren't a little different than your competition, you're in trouble."

- Mark Sanborn

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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

"Sell the problem you solve, not the product."

- Anonymous

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WEEKLY NEWS UPDATE!

Mortgage rates climb to highs not seen in more than a year

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Here's how a 5% mortgage rate would roil the US housing market

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Rising rates don't dampen new mortgage loan application volume

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Stock jitters and higher interest rates drive weekly mortgage applications down 4.1% https://www.cnbc.com/2018/02/14/stock-jitters-higher-rates-pressure-mortgage-demand-down.html Thanks! De Pac 6:59 AM (25 minutes ago) to me ok Click here to Reply or Forward 18.76 GB (62%) of 30 GB used Manage Program Policies Powered by Google Last account activity: 13 hours ago Details Compose: February 14, 2017 PST - End Of The Day Status Report MinimizePop-outClose Recipients February 14, 2017 PST - End Of The Day Status Report

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"The very essence of leadership is that you have to have vision. You can't blow an uncertain trumpet."

- Theodore M. Hesburgh

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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]