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Don’t Be Left Out In The Cold!

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Feeling Left Out In The Cold? Don’t Be!

We have a solution for you, a friend or family member who has been left out in the cold as they can’t get the home financing they need: Fast Private Money! Below is just one of the many ways we can help make Holiday merrier:

Loan of the Week

Program: Owner-Occupied Rush Purchase
Loan Size: 1.3 million
Loan to value: 63%
Days to fund: Just 13 days!
Why Came To Us:  Broker from Contra Costa County referred his client to us after being turned down with conventional Lender, due to self-employment.  Buyer had a high FICO and good down payment so it wasn’t difficult to get his loan quickly financed by one our Investors!

With needs for faster refinancing or a desire to create stronger purchase offers, Private Money can give you the edge they need in this competitive market.  Our Private Money mortgages can get you, a friend or family member into a warm Home for the Holidays!

Email your scenario by visiting our contact us page here or Call Us at 707-523-2099 to see how we can help.

SoCal Real Estate Cools Down—But Only a Bit

Socal Real Estate Cools Down—But Only A Bit

In recent months Southern California has seen a slight cooling of the cutthroat housing market. Perhaps it is due to home shoppers tired of losing bidding wars and who, subsequently, put their search on hold temporarily.

As one Realtor put it: “What we are seeing is just a minor slowdown. Buyers can just expect slightly less pain.”  Where once you might see 20 offers on a property, now you see 4. Better, but still not easy.

In October, home prices in the 6 counties of Southern California rose 14% from a year ago reaching an all-time median high of $690,000. Sales declined 6.6%, the first drop since June 2020.

Up until now, home prices were rising faster than they had for years for a variety of reasons:  low inventory, record-low mortgage rates and an influx of millennials into the market. The pandemic also drove more people to seek out more space, and first-time home Buyers left pricey city rentals for a home of their own.

Most economist don’t see these price increases continue at the pace we have been seeing over the past couple of years, yet most homes still sell above their list price.

Here is a snapshot of what we have seen in the market over the past year:

  • In LA County, the median home price rose 10.5% to $790,000, while sales fell 0.9%.
  • In Orange County, the median home price rose 15.7% to $920,000, while sales fell 13.6%
  • In Riverside County, the median home price rose 20.2% to $535,000, while sales fell 6%.
  • In San Bernadino County, the median home price rose 16.3%, while sales fell 5.3%.
  • In San Diego County, the median home price rose 13.8% to $740,000, while sales fell 12.4%.
  • In Ventura County, the median home price rose 10.7% to $725,000, while sales fell 6.5%.

If you are thinking of wading into the market this coming year, now that the frenzy has waned slightly, but have been turned down for a conventional loan, give Sun Pacific Mortgage a call at 707-523-2099 or visit our website www.sunpacificmortgage.com. We have helped thousands of Borrowers just like you achieve their dreams with a private loan from one of our many Investors.

Make Your Season Merrier – Loan of the Week!

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Financing To Make Your Season Merrier!

Are you in need of a mortgage for a home purchase?  How about a fast Bridge loan?  Private Money Loans can provide FAST Cash!

Let us make your holiday season merrier by helping you get more Buyers into homes – like we did below:

Recently Financed Buyers:

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We can be reached at 707-523-2099 or by visiting our website here, for any of your questions or scenarios.  We’ll quickly let you know what we can do to help make the holiday season merrier for you!

Private Money Mortgage Lending

Do You Know Your Loan Purpose Could Make Or Break Loan Approval

With the Real Estate boom we have experienced over the past couple of years, there is an increasing demand for real estate investments financing. One type of financing for investment properties may come from a private lender, and just like with a traditional lender, the Borrower agrees on a set interest rate and timeframe that they will pay the loan back. With Private Lenders, rates are generally higher and the loan period is shorter. These loans are secured by the property’s equity and if the Borrower fails to make payments on time, just as with a traditional loan, the property can be foreclosed on, and the Lender takes possession.

In most cases, a Private Money Lender will focus more on the value of the property and its potential for returns, rather than the Borrower’s income and/or net worth.

Here are some aspects of borrowing Private Money, also known as Hard Money:

  • Hard Money loans are meant to be short-term, temporary financing. This may be necessary because the Borrower needs a fast close, has difficulty proving income, or has a less than desirable FICO score.
  • The interest rates vary depending on several factors:  Loan To Value primarily then a bit relating to property condition, location, or risk.
  • Percentage points (fees to access funding) will vary but they are never up-front costs.  These are how the Broker is paid.
  • Additional fees include:  Escrow costs, appraisals, wire fees and other miscellaneous administrative fees.

When you are in need of a real estate loan, the following information will be required of you:

  • The Loan Application, also known as a 1003
  • Any signed Purchase Agreement or Copy of Mortgage statement
  • Property Insurance Quote/Insurer’s information
  • Something showing income (bank statement, W2, tax return, CPA letter, etc.)

Sun Pacific Mortgage has been in the business of Private Money lending for 33+ years in California and has the expertise, plus knowledge needed to make your Borrowing experience less stressful. Give us a call at 707-523-2099 or visit our loan programs page to see what we can do for you.

Sleigh What? Fast Home Loan!

December Promo 1 Edit

We Fund Loans FAST!  After 33 years of experience, we are specialists at FAST Private Money Mortgages.  We’re here to help you, a family member or a friend get that fast home loan for the Holidays.

Loan of the Week

A Sonoma County Agent referred his Buyer to us after being turned down by her conventional Lender, 27 days into a 30-day Escrow.  Despite being very qualified, this Buyer was turned down by Underwriting at the last-minute due to an issue with proof of income.

In just 5 days we had her owner-occupied Bridge Loan of 946k approved and funds ready for her new home purchase!

One of our specialties here at Sun Pacific Mortgage is fast turnarounds, so if you or someone you know is in need of fast financing or having difficulty elsewhere getting a mortgage, give us a call at 707-523-2099 or contact us through our website. We will quickly let you know what we can do to help!

Fast Help for You – Recently Financed

Fast Help For You – Recently Financed

Let Our FAST Home Loans Help!

Are you in need of a mortgage for a home purchase?  How about a fast refinance?

If you need FAST financing or don’t qualify for conventional financing – yet, let us help you with our FAST Private Money Loan Programs, just as we did below:

Recently Funded

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We can be reached at 707-523-2099 or via our website at www.sunpacificmortgage.com.  We’ll quickly let you know what we can do to help you!

Bridge Financing with Sun Pacific Mortgage

Bridge Loan

One of our most sought-after financing programs, especially since the influx of multi offers occurring in home buying, has been our Bridge and Temporary Private Money Loan Programs.

Competition has been stiff over the past couple of years, prompting the need to make stronger initial purchase offers. Many of our Borrowers are looking for a solution that will allow them to purchase property before completing the sale of their existing home. The Bridge loan eliminates the need for any contingencies based on the sale of ones present home!

The Temp and Bridge loan programs also offer the use of equity, for assistance with a down payment on the new property.  We have devised a program that allows a term of 11 months with no prepayment penalty.  Rates primarily depend on Loan To Value.

If Private Money seems like a solution to your concerns about selling your home only to find you can’t find a replacement, give Sun Pacific Mortgage a call. With this program you can shop for your new house without the worries of your home selling in time.

We can be reached by phone at 707-523-2099 or by email through our website contact form: www.sunpacmortgage.com.

Feeling Grateful – Loan of the Week!

Feeling Greatful

Feeling Gratefall for Private Money!

Private Mortgages offer FAST financing! Our private money programs can rescue your real estate purchase or refinance that may be falling through due to difficult to prove income, credit problems, property condition, etc.

Many Borrowers feel grateful for our private financing:

Loan of the Week

An Agent referred her Buyer to us for a needed refinance on their primary residence, as they were in contract to buy an Investment property in Santa Monica, but was turned down at the last moment by their conventional lender due to difficult to prove income as was self-employed.

As their primary home property was owned free and clear, providing a $710,000 loan amount was an easy private loan for us to get approved. Within 11 days it was funded, and both Buyer and referring Real Estate Agent were grateful that this loan hadn’t fallen through!

 

Don’t let your purchase or refinance fall through in this hot Real Estate market! Give us a call at 707-523-2099 or email back with any questions or scenarios. Or visit our website at www.sunpacificmortgage.com.  We’ll be happy to get you a proposal on how we can help.

Real Estate Market for SFO October 2021

California Trust Deed Investing

Another stellar month for San Francisco real estate in October. Despite all the naysayers’ predictions that the market was on its way down, all markers indicate a continued upward trend. Here are the results for last month’s single-family residence in San Francisco:

  • Average List Price:  $2,093,971
  • Average Sales Price:  $2,358,448 ($2,131,959 in Sept.)
  • Average Sq. Ft. Price:  $1,093.37
  • Average D.O.M: 19
  • All Sold Properties:  709 (575 in Sept.)
  • SFR Sold:  303
    • 36 below price
    • 11 for listing price
    • 256 above listing price
  • One SFR sold for $1,506,248 OVER listing price

With the holidays approaching, we usually don’t expect many homes coming up for sale, but since it appears that we are constantly in new territory when it comes to the real estate market lately, we could see a significant reversal of the norm.

If you are looking to sell/buy anywhere in California, give Sun Pacific Mortgage a call at 707-523-2099 to discuss the many lending programs we offer for purchasing, refinancing, and bridging on owner-occupied and investment properties. Or visit our website www.sunpacificmortgage.com to learn more!

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