What is a Bridge Loan?

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Purchase or Refinance

Loan Info (we do California Only)

  • Loan amounts start at $100,000 and go up from there.
  • FICO is not a factor (bad or poor credit – we can still help you!)
  • Up to 70% Loan to Value, (higher LTV case by case basis)
  • Fast Funding ability.

Loan approval based on just 2 criteria:

  1.  Equity or at least 30% down if buying
  2. Ability to Repay

The best example of a need for a Bridge/Temporary Loan

Buyer’s current home was on the market.  They found the perfect replacement home but couldn’t get a temporary loan on their house because it was listed (the ‘ol Catch 22).  Seller wasn’t willing to wait for them to sell their home and then buy his home.  They had plenty of equity in their home.  We gave them a loan on their home for a sizable down payment and they closed on the replacement house.

Banks won’t do loans on a house that is listed for sale.

Other reasons for Bridge/Temporary loans are:  You need 12 more months before the “late payment” or some other credit ding is removed or old enough so you can get a conventional or government loan.  Or, you need to fix up your house before you put it on the market.

If you are in California, I invite you to give us a call at 707-523-2099 to see how Hard Money will work for your situation.   Having worked with many types of loan scenarios at Sun Pacific Mortgage & Real Estate since 1988, we are very experienced, we are honest and our rates are pretty good!

I have dealt with many types of loan scenarios throughout California since 1988. We are honest from the start as to how we can help you and we have pretty good Hard Money loan rates.

I hope you found this blog helpful and now have a better understanding of what is a hard money loan.

What is Hard Money?

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Hard Money, also known as Private Money, is money borrowed from private individuals. Most private money lenders/investors lend money through a mortgage company (there are laws that require this).

Hard Money is for buyers who still want to buy even with tarnished credit backgrounds. It’s useful for those who still need to refinance their homes to buy another property, do home improvements, etc.  Hard Money is the only option out there if they have been turned down by their favorite bank or savings and loan or mortgage broker or mortgage banker.  Or all of the above!

Some of the benefits of a Hard Money loan are:

  • Basically considered “all cash”.
  • Deemed extra strong in purchase contracts.
  • Can be used to purchase or refinance dump property.
  • Helpful to a bad credit borrower, irregular income borrower or large cash-out borrower
  • Benefits someone needing fast cash or short term Bridge loan, etc.

Hard Money loan qualifications are more forgiving than conventional or bank financing.

These loans are based largely on equity. The most you will get is 75% of the value of the property.

The two basic qualifications are:

  1. Decent existing real estate equity or at least a 25% down payment if a purchase.
  2. An ability to repay the loan.

The loan rates are higher and it will likely cost a bit more than a 30 year fixed rate loan but it can get you the money you need if refinancing or it can fund your next dream home purchase.  Many people have credit card rates that are 15% to 32% and Hard Money rates average 9% to12% with interest only payments.

If you are in California, I invite you to give us a call at 707-523-2099 to see how Hard Money will work for your situation.   Having worked with many types of loan scenarios at Sun Pacific Mortgage & Real Estate since 1988, we are very experienced, we are honest and our rates are pretty good!

I have dealt with many types of loan scenarios throughout California since 1988. We are honest from the start as to how we can help you and we have pretty good Hard Money loan rates.

I hope you found this blog helpful and now have a better understanding of what is a hard money loan.

Keep Your Real Estate Market Hot!

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The real estate market is really heating up –

not only for Agents but also for potential home sellers and home buyers.

 

This means multiple offers on properties for sale which is good for a home seller but what about you home buyers?  Or, what if you are a “Seller–Buyer” and need to get your home sold before you can buy?  Contingent purchase offers can be less appealing than an all-cash offer or no-contingency offers.  How about letting our short term Bridge Loan help you out!
 

We recently did a loan for a lady who needed fast cash so she could close on the property she had her eye on for some time.  We were able to get a Bridge Loan done on an existing property she owned, in 14 days from start to finish.  With this money she was able to buy the house that she otherwise would not have been able to get.
 

Our Bridge Loan program is a hard money loan thus more forgiving than conventional lenders, it can fund fast, and hard money is virtually cash so it can assist in strengthening purchase offers too. 
 

We have helped many, many others so let us help you too! Call today (707) 523-2099!

 

Best,

Forest, Ken, and Lynn – The Guys in the White Hats

 

 

Click this link for our rate sheet,
showing the programs we offer

 

 

Read some of our customer testimonials here

 

 

       Alternative Finance Lenders Serving California since 1988!

800 Mendocino Ave. Ste 2
Santa Rosa, CA 95401
(707) 523-2099
www.sunpacmortgage.com

 

 

California Bureau of Real Estate Broker Corporate License # 01464899.

Nationwide Mortgage Licensing (Registry) System Office NMLS # 360993

It Is That Time of Year in Real Estate To Have Alternative Financing Readily Available

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It Is That Time of Year in Real Estate

To Have Alternative Financing

Readily Available

 

“Forest and his team have performed for my clients on multiple occasions. As always, with great results and timing. Very knowledgeable in their field and would not hesitate continuing to recommend them when my clients need their services.”  Realtor® K.D.L

 

“Sun Pacific is a go to team in my book. If you need it DONE, go with them!” C.M.

 

We love hearing from our Borrowers directly as well as other Lenders and Agents we work with. It is always a pleasure to help rescue a home buyer turned down elsewhere for a mortgage. As well as be able to help out another Agent or Lender who just found out their borrower’s loan was disapproved and Escrow closes in a week! Or using a Bridge Loan to help someone buy a new home while waiting for their current home to sell.

 

Spring has sprung and real estate inventory is increasing, as is buyer demand.  Agents, Lenders and Buyers need their best foot forward when submitting offers. Our Hard Money programs can help sweeten a deal as well as quickly fund if needed, despite poor credit, bankruptcy, short sale, difficult to prove income, etc.

 

See below for some of our recently funded loans so you can get a better idea how we are here to help you! 

 

Call US today (707) 523-2099.

 

Best,

 

Forest, Lynn & Ken  – The Guys in the White Hats

P.S. We love referrals!

 

 

NOTE: We finance Bridge loans, Owner Occupied purchases and refinances, non-owner purchases single and multiple units, commercial and some land. Get our financing despite poor credit, self employed-difficult to prove income, need fast financing, property a fixer, etc!

 

 

SANTA ROSA, CA

Type:  Short term Bridge Loan

Amount:$290,000

Days to fund: 13 days

Reason needed: Needed fast cash to buy another home while current house up for sale

 

HAYWARD, CA

Type: Owner Occupied Cash-out Refinance

Amount:$111,000

Days to fund: 17 days

Reason needed: Poor credit

 

SANTA ROSA, CA

Type:  Cash-Out Non-Owner Property

Amount:$270,000

Days to fund: 7 days

Reason needed: Owned numerous properties

 

COBB, CA

Type:  Non-Owner Purchase

Amount:$300,000

Days to fund: 14 days

Reason needed: Foreclosure on credit

 

SAN JOSE, CA

Type:  Investment Purchase Bridge Loan

Amount:$200,000

Days to fund: 10 days

Reason needed: Needed fast cash

 

INDIAN WELLS, CA

Type:  Short term Bridge

Amount:$997,000

Days to fund: 27 days

Reason needed: Still had current house up for sale but needed funds for new home

 

SONOMA,CA

Type:  Non-Owner Rate and Term Refinance

Amount:$232,500

Days to fund: 10 days

Reason needed: Bankruptcy on credit

 

 

Click this link for our rate sheet, showing the programs we offer.

 

CALL TODAY, The Guys In The White Hats at

(707) 523-2099

 

See our website at: www.sunpacmortgage.com

 

 

       Alternative Finance Lenders Serving California since 1988!

800 Mendocino Ave. Ste 2
Santa Rosa, CA 95401
(707) 523-2099
www.sunpacmortgage.com

 

 

California Bureau of Real Estate Broker Corporate License # 01464899.

Nationwide Mortgage Licensing (Registry) System Office NMLS # 360993

5 Reasons to Use A Licensed Professional

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Experienced and licensed Brokers, Realtors & Lenders are important for all your lending and/or real estate transactions.

 

I recently read an article about the importance of using an experienced and licensed Lender as well as Real Estate Agent and how not using one of each actually added time, money and ended in some loss of the Buyers.

 

Here is the original link to the below fun and informative infographic with really good reasons why one not only wants to use a licensed Real Estate Professional but also applies to licensed and experienced Brokers and Lenders:

 

5 REASONS TO LOVE USING A REAL ESTATE PROFESSIONAL [INFOGRAPHIC] – The KCM

http://www.keepingcurrentmatters.com/2015/02/13/5-reasons-to-love-using-a-real-estate-professional-infographic/?utm_source=feedburner&utm_medium=email&utm_campaign=Blog_Promo

 

It truly does benefit the Buyer and Borrower alike to find a local expert who can help them through the real estate or lending transaction.  So don’t make the mistake and try to do it yourself, unless of course you are a licensed and experienced Broker, Real Estate Agent or Lender.

 

Best, Forest – The Guy in the White Hat

Sun Pacific Mortgage & Real Estate

 

Forest Tardibuono is Co-Owner and CA BRE Broker known as “The Guy in the White Hat” of family owned & operated Sun Pacific Mortgage & Real Estate – Your California Alternative Finance Lender since 1988.

P.S. We love referrals!  www.sunpacmortgage.comBRE license #01464899/NMLS #360993

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Alternative Financing for 2015!

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Alternative Financing 

for you in 2015!

(Click here or the image above the watch the video)

2015 has begun and Sun Pacific Mortgage and Real Estate is here for you! If you or your clients are in need of a hard money loan or alternative financing, please give us a call today! 

We have several programs availabe, click this link to our regularly updated rate sheet:

http://sunpacificmortgage.com/SPM_Programs_Rate_Sheet.pdf

Best,

Forest, Lynn & Ken, The Guys in the White Hats

P.S. We love referrals! 

Approval is based on just 2 criteria:

 1. Good Down Payment or Decent Equity    

2. Ability to Repay

• FAST private money purchase financing throughout California.

• Owner Occupied, Bridge Financing, Investor financing, Commercial and some Land financing.

• FICO is not a factor.

• Up to 80% loan-to-value, case by case basis.

• Lower rates with Good Compensating Factors, case by case basis.

• Loan amounts starting at $100,000.

(Sonoma County areas can be lower amounts, case by case.)

SPECIAL NOTE: We can do a loan for someone fresh out of foreclosure, bankruptcy, or short sale!

CALL TODAY, The Guys In The White Hats at

(707) 523-2099

Or email our Broker at forest@sunpacmortgage.com

See our website at: www.sunpacmortgage.com

       Alternative Finance Lenders Serving California since 1988!

800 Mendocino Ave. Ste 2

Santa Rosa, CA 95401

(707) 523-2099
www.sunpacmortgage.com

California Bureau of Real Estate Broker Corporate License # 01464899.

Nationwide Mortgage Licensing (Registry) System Office NMLS # 360993

 

 

Superhero Hard Money Lender Saves The Day Again

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Ready To Save More Loans!

 

The fact is, people still want to buy a home even with tarnished profiles and people still look to refinance their homes to buy another property, do home improvements, get extra cash for the holidays, etc. 

 

Hard Money loans is the only option out there if a Buyer or Borrower has been turned down by their favorite bank or savings & loans, mortgage broker or mortgage banker.  Or all of the above! I’ve said it before and I’ll say it again – Hard Money is here to stay. 

 

This loan is absolutely critical for Buyers and those looking to refinance.  It is a vital tool for the busy Broker and Real Estate too.  2/3 of the loans I do are for purchases. The Buyers are so grateful as they thought they had no chance for home ownership.  Or they were in contract and the Lender all of a sudden said “declined”. 

 

Hard Money is the only loan program I offer.  I invite you to drop me an email or give me a call if you are in California to see how Hard Money will work for your own situation or for one of your clients.    When you need it, you need it and I am here to help!

 

 

Best,

Forest

 

P.S. – We love referrals! 
 

 

 

Approval is based on just 2 criteria:

 1. Good Down Payment or Decent Equity    

2. Ability to Repay

 

FAST private money purchase financing throughout California.
Owner Occupied, Investor financing, Commercial and some Land Financing
FICO is not a factor.
Up to 75% loan to value, Case by case basis.
Loan amounts starting at $100,000*
Lower rates with Good Compensating Factors, Case by case basis.
Fast refinancing. 
 
*Sonoma County Loan amounts vary, call today!

 

SPECIAL NOTE: WE CAN DO A LOAN FOR SOMEONE FRESH OUT OF FORECLOSURE, BANKRUPTCY OR SHORT SALE!

 

 

CALL FOREST, The Guy In The White Hat at (707) 523-2099

Or email him at forest@sunpacmortgage.com

See our website at: www.sunpacmortgage.com

 

 

 

       Hard Money Lender Serving Sonoma county since 1988!

800 Mendocino Ave. Ste 2
Santa Rosa, CA 95401
(707) 523-2099
www.sunpacmortgage.com

 

 

CA BRE Broker – California Bureau of Real Estate Broker.   Corporate License # 01464899.

NMLS – Nationwide Mortgage Licensing (Registry) System.  Office NMLS # 360993

Hard Money Loans Rescue Home Buyers & Home Owners

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Hard Money Loans Rescue

Home Buyers & Home Owners

Hello again!

 

I always like to push the idea of home ownership.  It is still the best financial investment you can make at any time in

your life, so don’t give up if you are trying to buy!

 

In recent Trulia and Keeping Current Matters articles, the subject of Renting versus Buying was brought up; These articles pretty well covered why homeownership remains more economical than renting, throughout the United States. Nationwide, owning is 38% cheaper than renting! 

 

With a Hard Money loan from us, a family was rescued on their home purchase which they were about to lose out on:

 

The Purchase price of the new home was $234,000. They put down 30% of the purchase price ($70,200) and got a hard money loan of 70% LTV ($163,800).  While working to refinance, the Buyers paid 10.5% interest rate for six months ($1,719 monthly) and finally were able to qualify for a conventional loan.  They now pay $1,300 with taxes & insurance included. Their old apartment rent was $1,200 – just $100 less but now they live in their own home!

 

When your Lender, Broker or Realtor tell you “it is the time to buy”, they speak the truth. 

Best,

Forest

P.S. – We love referrals! 

RECENTLY FUNDED HARD MONEY LOANS

(Great Hard Money rates as low as 8.5%*!)

NOTE: Get a loan despite poor credit, self employed-difficult to prove income, need fast financing, property a fixer, etc!  And, we finance Bridge loans, Owner Occupied purchases and refinances, non-owner purchases single and multiple units, commercial and some land. 

Approval is based on just 2 criteria:

 1. Good Down Payment or Decent Equity    

2. Ability to Repay

• FAST private money purchase financing throughout California.

• Owner Occupied, Investor financing, Commercial and some Land financing.

• FICO is not a factor.

• Up to 80% loan-to-value, case by case basis.

• Loan amounts starting at $100,000.

• Lower rates with Good Compensating Factors, case by case basis.

• Fast refinancing. 

SPECIAL NOTE: We can do a loan for someone fresh out of foreclosure, bankruptcy, or short sale!

CALL FOREST, The Guy In The White Hat at

(707) 523-2099

Or email him at forest@sunpacmortgage.com

See our website at: www.sunpacmortgage.com

       Hard Money Lender Serving Sonoma county since 1988!

800 Mendocino Ave. Ste 2

Santa Rosa, CA 95401

(707) 523-2099
www.sunpacmortgage.com

CA BRE Broker – California Bureau of Real Estate Broker.   Corporate License # 01464899.

NMLS – Nationwide Mortgage Licensing (Registry) System.  Office NMLS # 360993

 

 

Private Mortgage Investing Is Ripe – Especially With Us!

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Private Mortgage Investing Is Ripe – Especially With Us!

What a great time to be a Hard Money Investor, property values are just continuing to go up. Since 2012 private money loan borrowers has only been increasing as it’s the only game in town after B of A and Wells Fargo tell the Borrower “no”. Borrowers who have poor credit or difficult-to-prove income due to being self employed but have a decent down payment or existing equity know that they can most likely get a loan from us, despite being turned down elsewhere.

Anyone with money can invest and become a Private Mortgage Investor. It’s easier than you would think.

As the Broker of Sun Pacific Mortgage & Real Estate, I have dealt with Private Investors for over 25 years and we have become known for our integrity and honesty. Numerous friendships have been formed not only with Investors but with our Borrowers, due to the smoothness and honesty of service to both.

Becoming a Private Investor can earn you upwards of 13% in return by investing in mortgages. And by investing in real estate mortgages your investment is secured. Investing in mortgages isn’t only buying or selling of mortgages at a discount. It includes directly lending your hard money to individuals and securing that loan with a mortgage against their real estate.

I promote purchase loans as well as refinance loans and these can be at any LTV up to 75%. Right now the predominant offerings are purchase loans with 30% down. These loans should be made as the security is at its lowest valuation in years and the Buyer is putting 30% down. With that down payment, there is plenty of protective equity. Further, with that down payment the homeowner is not likely to walk away from the property.

As a Private Investor you can set the yield on the promissory note with the interest rate, points and prepayment penalties. Many individuals have started or are continuing as a Private Mortgager Investor as they can secure a consistent monthly income from it. It can be an excellent cash flow for someone retired or looking to set up their retirement funds.

For example, a private investment recently done for an individual to buy a home came to $196,000 with a rate of 12% and the Investor gets a monthly return of $1,960. Homeowner is very happy and intends to refinance down the line for lower rate but gets the home they’ve been searching for!

 

A Private Mortgage Investor is also known as:

1. Private Mortgage Lender

2. Hard Money Investor

3. Hard Money Lender

 

These are all private individuals lending their money directly to the borrower with a promissory note with interest rates, points and prepayment penalties the investor sets, and securing that promissory note with a real estate mortgage.
Private Mortgage Investing is ripe. Time to jump on the bandwagon with Sun Pacific Mortgage & Real Estate and get a good taste!

If you are interested in investing with us then Call Our Office at (707) 523-2099 and ask to speak to me, FOREST – The Guy in the White Hat!

 

Best,
Forest

forest and his hat_small

 

 

 

 

 

 

 
CA BRE Broker – California Bureau of Real Estate Broker. Corporate License # 01464899.
NMLS – Nationwide Mortgage Licensing (Registry) System. Office NMLS # 360993

Hard Money Rescues Turned Down Loans

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Check out our most recent Hard Money video here:

 

Hard Money Rescues Turned Down Loans

 

If you feel like your loan application is drowning, soon to “die” by getting
turned down, then you need to watch this video of how I can rescue such a loan.

Real Estate loans can be hard to get for some with poorer credit, who are self
employed, had a recent foreclosure or bankruptcy. Or, you may just need a fast
loan and can’t find an “A” paper Lender who can fund fast.

This sounds like your loan request needs to be rescued, so call me, Forest – The
Guy in the White Hat! (707) 523-2099.

I can help with those drowning loans! For well over 25 years I have been
specializing in loans to Borrowers who have been “Turned Down Elsewhere” as well
as offering all other types of loans. For the last 4 or 5 years I have only
done Hard Money Loans. Recently, about 70% of the loans I have funded I had to
rescue from “A” paper lenders as they were declined for whatever reason.

There are really just 2 requirements for a Hard Money Loan: #1 You have to have
a pretty good down payment for a purchase or equity if a refinance and #2 The
ability to repay the loan.

Call me! Hope to be able to help you soon!

 

Best,

Forest

P.S. – We love referrals!

 

Loan approval is based on just 2 criteria:

1. Good Down Payment or Decent Equity

2. Ability to Repay

 

• Owner Occupied, Investor financing, Commercial and some Land Financing

• FAST private money purchase financing Sonoma County & Northern California.
• FICO is not a factor.
• Up to 80% loan to value, Case by case basis.
• Loan amounts from $75k – $1mil+
• Lower rates with Good Compensating Factors, Case by case basis.
• Fast refinancing.

CALL FOREST, The Guy In The White Hat at (707) 523-2099;

Or email him at forest@sunpacmortgage.com

See our website at: www.sunpacmortgage.com

 

CA BRE Broker – California Bureau of Real Estate Broker.   Corporate License # 01464899.

NMLS – Nationwide Mortgage Licensing (Registry) System.  Office NMLS # 360993

*APR based on loan amount of $130,000 is 9.469%.

BRE License #01464899. NMLS #360993
Copyright © 2015 Sun Pacific Mortgage & Real Estate. All rights reserved.