Recently Funded Deals – Multiple Programs

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The variety of our recently funded transactions hopefully give you a clearer understanding of how we can help you and/or your clients with our alternative financing throughout Sonoma County, North Bay areas and all the rest of California!

“Thanks to your entire team for all of your hard work, patience and for going the extra mile to ensure my dad’s loan went through as soon as it possibly could.  I am overall impressed with how efficient you are in particular and how much the details are important to you…a great experience, mainly due to how easy it is to work with you, so many thanks for that!”

Regards, Sarah

Call Us Today at 707-523-2099 with your real estate finance scenarios and see how we can help!

Best,

Forest  & Ken – The Guys in the White Hats

P.S. We love referrals!

RECENTLY FUNDED TRANSACTIONS:

NOTE:  Get our financing despite credit circumstances, self employed difficult-to- prove income, need of fast financing, property a fixer, etc! We finance owner occupied, non-owner, multi-units, some commercial and land throughout California. 

 

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 Financing Broker Serving California since 1988!

800 Mendocino Ave. Ste 2

Santa Rosa, CA 95401

(707) 523-2099
www.sunpacmortgage.com

Forest CA Bur of Real Estate license #01009559 and NMLS #299456
Ken CA Bur of Real Estate license #01858042 and NMLS #1221130

 

 

5 Biggest Myths About Hard Money Loans

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5 Biggest Myths About Hard Money Loans

 

myth-v-truthBeing a Hard Money Broker for over 25 years here in Sonoma County but licensed for the entire state of California, time and time again I hear such myths or questions similar to these.

 

This should hopefully dispel any last vestige of concern or uncertainty about the value and use of hard money in real estate.  Be it to buy your own home or a 2nd home, a flip, an investment property, land to build on, etc. – hard money can be the best choice for you.

 

The myths so aptly covered in Trust Deed Capital BLOG, by Ken Meyer on July 21, get cleared up by providing the facts:

 

 

 

Myth #5: Only the Desperate Seek Out Hard Money Loans

One of the most difficult myths to dispel is that anyone who goes outside the traditional lending structure (banks, for the most part) must be desperate for a loan. This is the furthest thing from the truth, since most of the people who seek out hard money loans are smart business people who would rather work with an individual investor on a project than deal with a huge lending institution.

Myth #4: Hard Money Lenders Are All Loan Sharks

Hard money lenders are business people, just like their clients. A hard money lender provides money based on the investment, rather than based on the person’s credit score, which means that the lender’s eye is on making the investment succeed. Fairness and good business sense means you get return business. Setting impossible, harsh terms on the other hand means that people won’t come to you unless they’re desperate, which is something hard money lenders want to avoid at all costs.

Myth #3: Hard Money Loans Are More Expensive Than Traditional Ones

You get what you pay for when it comes to financing. If you need to get money in the next two days so you can acquire and flip a property for a huge profit, then time is of the essence. If a traditional lender can’t get you the money in the time frame you need, then it simply isn’t a valid option.

Hard money loans provide flexibility, but their costs are also affected by the loan in question, the profit to be made, and the laws of supply and demand. All of that said, the interest rate on a hard money loan can sometimes be higher than a traditional loan, but they are also usually shorter term and can close quickly. Time is money in investment real estate, so when you look at the big picture, a hard money loan is usually more cost effective than a traditional loan.

Myth #2: Hard Money Loans Have Draconian Rules

Hard money loans are given by an individual, which means that the rules will change from one lender to another. Generally speaking, hard money loans have different restrictions put on them than consumer loans. This is for a specific reason; the lender is looking out for the investment. Lenders and borrowers are encouraged to negotiate until they reach terms they feel they can work under, which is often not the case for banks and other traditional lenders.

Myth #1: It’s One or the Other

Perhaps the biggest myth when it comes to hard money loans is that you can’t also have soft money loans (the more typical sort you get from the bank). There are no rules that say this, and often those who need as much financing as they can get will draw from multiple sources to make sure they have enough capital to get the project done.

oOo

 

Original Trust Deed Capital Blog link: http://www.trustdeedcapital.com/blog/5-biggest-myths-about-hard-money-loans?success=true

This same blog comments on how scary hard money can seem to be, but this only comes about because of the lack of understanding and knowledge required to properly invest with or borrower hard money.

I hope that if you or someone you know that is having trouble getting a loan elsewhere, has a time sensitive purchase requiring financing, etc. that you honestly check out hard money as an option.  You may well be very glad that you did!

 

 

Best, Forest – The Guy in the White Hat

Hard Money Broker Serving all of CA Since 1988!

 

Sun Pacific Mortgage & Real Estate, Family owned & operated (707)523-2099.

www.Sunpacmortgage.com; CA Bur of Real Estate license #01009559 and NMLS #299456

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

1

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

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