FHA Loans

If you are looking for a home loan with a small down payment considering an FHA loan is a great place to start. Equity growth in real estate has been great. You might want to again consider a FHA loan as your vehicle of choice to the American Dream.


An FHA loan is a mortgage issued by federally qualified lenders and insured by the Federal Housing Administration (FHA). FHA loans are designed for low-to-moderate income borrowers who are unable to make a large down payment. As of 2016, these loans allow the borrower to borrow up to 96.5% of the value of the home; the 3.5% down payment requirement can come from a gift or a grant, which makes FHA loans popular with first-time homebuyers.

Scenarios Under Shining Star Funding FHA Loans

FHA Loans 3.5% Down

  • Loans available up to $679,650 ( conforming loan limits ) with 3.5% down

FHA Loans with Zero Down

  • First Loan is up to 96.5% with mortgage insurance
  • An additional 4 % is available as a down payment assistance (DPA) .This is a true grant with no interest or repayment required
  • DPA is for down payment and closing costs only.No cash back is allowed
  • Owner occupied single unit properties only.Not limited to first time home buyers
  • 45%.640+ credit score needed
  • Need to occupy home per program guide to avoid interest payment or principal repayment on the grant
  • Subject to underwriter approval

FHA Streamline Refinance
(Non Credit Qualifying without appraisal)

  • Upside down loans OK
  • No appraisal needed
  • No income verification
  • No credit score requirements
  • Borrower should have made timely mortgage payments for 12 months if owned for  more than 1 yr or 6 months if owned less than 1 yr
  • 1X30 day late in last 12 months OK .However there should be no 30 day lates in last 3 months

Transferred Appraisals

  • Transferred appraisals ordered by previous lender OK .


  • We will order one or two appraisals based on quantum of appreciation .Will work with lower of the two appraisals,
  • Buyer can pay for only 1 appraisal, Interested party needs to pay for the second appraisal.
  • Home Inspection Report with No pending work relating to Health and Safety issues.

FHA (Back to Work Program)

Get a FHA Loan 12 months after

  • foreclosure
  • deed in lieu
  • short sale
  • discharge of Chapter 7 bankruptcy
  1. Taxable income should have dropped by 20% or more prior to above event
  2. Applicant should be out of work for 6 months or more as a result of the event
  3. Credit should have been re-established and satisfactory for 12 months or more


No Transcripts Verification

  • No IRS Transcript verification
  • FHA,Conventional and VA Ok
  • Speeds up closing process

This is not a commitment to lend. Prices and guidelines are subject to change without notice. Some products may not be available in all states. Subject to review of credit and/or collateral; not all applicants will qualify for financing. It is important to make an informed decision when selecting and using a loan product; make sure to compare loan types when making a financing decision.