California's Hard Money Lender Since 1988

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2014 is the Year of Hard Money Loans

Feb 06, 2014  , , , , ,

 

2014 is the Year of Hard Money Loans from The Guy in the White Hat

Hello,

Preview of coming attractions!  I will have a future, more exact  Blog on the recent changes to Hard Money lending – High Cost loans.  For now, I have taken all in stride and will continue to promote Hard Money loans that fully conform to all the changes. 

Most of the changes impact Owner Occupied loans and none are horrible.  Some key things that will be different in my Owner Occupied Program…  1.  All Borrowers have to do Credit Counseling through an approved agency before the loan can fund.  2.  The loans cannot have balloon payments.  I propose a 15 year that is interest only for the first 7 years and fully amortizes over the remaining 8 years.  3.  They cannot have prepayment penalties.  4.  Late fee maximum is 4% after 15 days.

I’ve listed below recent Hard Money loans financed through my office and hope these give you a better idea as to how I can help you and/or your clients. I will keep the loans coming!

Best,

Forest

RECENTLY FUNDED HARD MONEY LOANS

Great Private Money Rates as low as 8.5%*!

Guerneville, California 
Loan Type: 2nd Non-Owner Cash-Out
Loan Amount: $96,000
Days to fund: 6 days!
Reason for hard money loan: Multiple Properties Owned

Santa Rosa, California 
Loan Type: Bridge Loan (1st & 2nd) 
Loan Amount: $464,000 & $85,000
Days to fund: 14 days!
Reason for hard money loan: Self Employed

Sonoma, California
Loan Type: 2nd Home
Loan Amount: $110,000
Days to fund: 15 days
Reason for hard money loan: Needed Fast Financing

Vallejo, California 
Loan Type: Owner Occupied Cash-Out Refinance
Loan Amount: $140,000
Days to fund: 13 days!
Reason for hard money loan: Condition of property

Cloverdale, California 
Loan Type: Owner Occupied Purchase
Loan Amount: $503,200
Days to fund: 15 days
Reason for hard money loan: Poor Credit

Ukiah, California 
Loan Type: Owner Occupied Purchase
Loan Amount: $112,500
Days to fund: 17 days
Reason for hard money loan: Poor credit
South Lake Tahoe, California
Loan Type: Non-Owner Purchase
Loan Amount: $200,000
Days to fund: 20 days
Reason for hard money loan: Self Employed

El Cerrito, California 
Loan Type: Owner Occupied Purchase
Loan Amount: $418,000
Days to fund: 14 days!
Reason for hard money loan: Condition of property

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 CA
•FICO is not a factor.
•Up to 80% loan-to-value – Case by case basis.
•Loan amounts from $75,000 – $1mil+.
•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

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

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

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

 

 

“The Guy In The White Hat – Your Hard Money Lender”. Broker and Co-Owner of Sun Pacific Mortgage & Real Estate, family owned and operated in Sonoma County California since 1988. (CA BRE License #01000559. NMLS #289456)

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