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Current State of the Market – A Message from the Broker – June Edition

Over the last thirteen years real estate has been in a Bull market, which changed the way that we look at the 7-year cycle that previously rang true. This heating and cooling of the market, low interest rates, and removal of subprime loans has created something better and different than before.

Some of the gains have been:

  • Larger equity increases across the entire state
  • Record low default and foreclosure rates
  • High demand / Low Inventory
  • An increase in well qualified borrowers

Unnamed Over The Last Thirteen Years Real Estate Has Been In A Bull Market, Which Changed The Way That We Look At The 7-Year Cycle That Previously Rang True. This Heating And Cooling Of The Market, Low Interest Rates, And Removal Of Subprime Loans Has Created Something Better And Different Than Before.

As we addressed in the first State of the Market, (which you can read here: pt. 1), top economic experts do not foresee a bubble situation. The market gains do not support it.

Now in June, Private Money Lending has remained unchanged. In fact, you could say that the miserabilism and rising rates have increased the benefits of our loan programs. Hard Money rates are constant and now overlap with conventional lenders who are tightening their lending requirements.

This has created a prime opportunity for Direct Private Lending and brought in a higher frequency of qualified Borrowers. So here is a recap of our last month:

  • In May, our investors helped fund over $18 million in loans at an average interest rate of 9.5%.
  • This is up from April’s $17 million at an average of 10.2%*.

*Note that lower rates are granted to Strong Borrowers with Low LTV.

Unnamed2 Over The Last Thirteen Years Real Estate Has Been In A Bull Market, Which Changed The Way That We Look At The 7-Year Cycle That Previously Rang True. This Heating And Cooling Of The Market, Low Interest Rates, And Removal Of Subprime Loans Has Created Something Better And Different Than Before.

While talk of inflation, recession, and panicked markets continue to consume the energy of the media – remember that real estate continues to be strong. The last two weeks in our local market had some of the highest amount of new listings coming on the market in a very long time.  Buyers are flocking at open houses.  One we went to last weekend had over 30 buyers touring the house at the same time.

The market may be changing and look different, but there is a reason why mortgages are used to hedge problems in the economy. It’s because of the strength in real estate.

Loan turned down elsewhere? We Can Help!

First Reblast Artwork Increased Rates And Stricter Qualifications Causing Loans To Be Turned Down By Other Underwriters Or Lenders?  Get Fast Approvals And Funding Of Loans Here!Turned Down Elsewhere?
We Can Help Get You Fast Loan Approval!

See our recent blog about current market conditions:
https://www.sunpacificmortgage.com/blogs/what-will-the-housing-market-look-like-as-the-rates-rise/

Increased rates and stricter qualifications causing loans to be turned down by other Underwriters or Lenders?  Get fast approvals and funding of loans here!

Make us your first and favorite Private Money Lender. We can help those turned down elsewhere and our specialty is speed.

Call us today at 707-523-2099 with any scenario or visit our website at www.sunpacificmortgage.com.  We will let you know quickly what we can do for you!

Recently Turned Down Loans From Others –
Approved & Funded By Us

We Offer FAST Financing; We Finance Owner Occupied & Investment Properties. We Can Finance Despite Credit Issues, Property Condition & Difficult To Prove Income;

Location:  Watsonville, Santa Cruz County
Finance Program:  Primary residence purchase
Loan Size:  865k
Days to Close:  11
Why Needed Us:  Needed fast close to purchase family home.

Location:  Berkeley, Alameda County
Finance Program:  Investment Property Refinance
Loan Size:  962k
Days to Close:  17
Why Needed Us:  Needed cash to make necessary repairs before listing house.

Location: Los Angeles, Los Angeles County
Finance Program:  Primary residence refinance
Loan Size:  577k
Days to Close:  14
Why Needed Us:  Needed to consolidate debts to repair credit.

Resolve Loan Issues Quick – What A Mouthful!

Noo Consumer Loans Copy At Sun Pacific Mortgage We Resolve Lending Issues – For Investment Properties &Amp; Primary Residences Alike!  We’ve Helped Many Brokers, Lenders And Their Borrowers Find A Comfortable Way Out Of Seemingly Impossible Situations, Like We Recently Did Below:At Sun Pacific Mortgage we resolve lending issues – for investment properties & primary residences alike!  We’ve helped many Brokers, Lenders and their Borrowers find a comfortable way out of seemingly impossible situations, like we recently did below:

Loan of the Week

Program: Investment Property – Consumer Purpose Loan
Loan Size: 1.4 million
Location: Los Angeles County
Why Came To Us: Borrower with FICO issues wanted to pull cash out of the equity he had in a rental property, to do some needed debt consolidation and improve his credit.  As we don’t have credit requirements, we quickly got his loan approved by our Private Investors and funded within 12 days!

If you or someone you know are looking for a fast resolution to a purchase or refinance issue, visit our website at www.sunpacificmortgage.com or give us a call at 707-523-2099 to see how our Private Money programs can help!

A Bridge To The Future – Private Money

A Bridge To The Future - Private MoneyPrivate Money – The Bridge To A Future Home

After 34 years of experience, we are specialists at helping bridge the distance for individuals who need additional financing to buy a new home, before selling their current house. Let us help you or someone you know with our popular Private Money Bridge loan program, like we did below.

Loan of the Week

Program: Bridge Purchase
Loan Size: 1.4 million
Location: San Luis Obispo County
Reason Came To Us: A Mortgage Broker brought his Borrower to us for some fast help. Their financing was disapproved by underwriting at the last minute due to debt-to-income ratio being a bit too high.  This wasn’t an issue with our programs due to the great equity in his current house.  As we have no DTI requirements, we were able to rapidly get him approved and loan fully completed in just 13 days!

Visit our website at www.sunpacificmortgage.com or call today 707-523-2099 so we can let you know what we can do to help you or someone you know bridge the distance to a future home!

The Pros and Cons of Waiting Out the Hot Housing Market

The Pros And Cons Of Waiting Out  The Hot Housing Market

Just as the pandemic put a temporary damper on the housing market, so too did the jump in mortgage rates. But just as the economic shut down didn’t have a lasting effect on the market, neither will this increase in mortgage rates. And the reason is the same – very little inventory. There are still more Buyers than Sellers and that is driving the market right now.

Despite the slight increases in interest rates, and decreases in inventory, it doesn’t necessarily mean the market is going down. Because Builders have not built enough housing and interest rates remain relatively low, it is thought that the industry might slow, but not fall.

Waiting can be a gamble in this game of real estate. Even if you wait to purchase with the thought that prices could be coming down, if rates increase it will all be for nothing. And renting will not be a cheaper option in the long run.

The market is stable. It hasn’t been driven by Investors, Flippers, and bad mortgages, but by legitimate Buyers. While demand may slow down eventually, there are no signs of prices going down anytime soon.

If you need a loan fast or have not qualified for a conventional loan, consider a privately funded mortgage through Sun Pacific Mortgage. Give us a call at 707-523-2099 or visit our website at www.sunpacificmortgage.com if you are purchasing or refinancing in California.

 

Unique Loans for Investment and Business Purpose!

Promo 5 Copy Take Advantage Of Our Private Money Programs If You Are In Need Of Fast Financing.  We Can Also Help If Their Debt-To-Income Ratio Is Too High Or You’ve Been Turned Down By Another Lender For Any Reason.We’re Direct Lenders – The Guys In The White Hats

Take advantage of our Private Money Programs if you are in need of FAST financing.  We can also help if their debt-to-income ratio is too high or you’ve been turned down by another lender for any reason.

We’ve funded many loans in less than 1 week. No credit requirements. And with over 34 years in business, we’ve helped thousands of individuals get the financing they wanted!

Recently Funded Investment & Business Purpose

 

Screen Shot 2022 05 16 At 10.08.41 Am Take Advantage Of Our Private Money Programs If You Are In Need Of Fast Financing.  We Can Also Help If Their Debt-To-Income Ratio Is Too High Or You’ve Been Turned Down By Another Lender For Any Reason.Give us a call at 707-523-2099 or visit our website at www.sunpacificmortgage.com to see what our Private Money Loan Programs can do to help!

HOT Financing – Lower Rates From Us

Hot Financing - Lower Rates From UsOur Hot Private Money Program

Are you just short of qualifying for your traditional “A-paper” loan for a refinance or purchase? Let our HOT Alt-A Private Money loan program help!

FAST approvals and fundings – even when turned down elsewhere!  Check out a recent scenario below:

Loan of the Week

Program: Business Purpose Refinance
Loan Size: $950,000
Days To Fund: 12 days
Location: Los Angeles County
Reason Came To Us: Debt to income ratios too high so her conventional Broker brought her to us. This Borrower was looking to get cash out of her primary residency to further expand her business. This was no problem for us!  With good LTV and credit, we were rapidly able to get her loan done.

If you are trying to refinance or purchase but don’t qualify for a conventional loan just yet – let us help!  We have this HOT Alt-A Private Money loan program with lower rates, so call us at 707-523-2099 or visit our website at www.sunpacificmortgage.com and we’ll quickly get back to you.

Why is the Housing Supply So Low?

Why Is The Housing Supply So Low?
At the top of the question list for Buyers last year and this year is, “Why is it so hard to find a house to buy?”  Simply stated:  The number of Buyers greatly outstrips the homes available for sale. There are two main reasons the housing supply is low and what it may mean for you:

  1. New home construction fell behind for the past five decades except for 2008. Builders exceeded the average of new homes during these years of the housing bubble. As a result, an oversupply of homes caused home values to decline. That was one of the factors that led to the housing crash in 2008. Since then, the level of new home construction has fallen off, and for the last 13 straight years, Builders haven’t been able to construct enough homes to meet the demand.
  2. When the pandemic hit, the meaning of “home” became even more appreciated. With work and school moving into homes, there was a rush to find suitable housing for all the new activities happening in a sometimes- too- small space. At the same time, Sellers hesitated to put their homes on the market because of concerns about the pandemic. Not to forget mortgage rates dropping to the lowest seen in decades, adding to the urgency to buy now.

Even today, Buyers find themselves looking at scant inventory and higher prices. Offers exceed listing prices by a considerable margin. Basically, inventory is still low. Still, you shouldn’t put your plans to buy on hold because you are waiting for additional houses to hit the market. With prices continuing to rise and construction materials becoming ever harder to obtain, that could end up being a longer wait than makes sense.

If you need a loan today but can’t meet the stiffer qualifications of a conventional loan, give Sun Pacific Mortgage a call at 707-523-2099 or email us through our website at www.sunpacificmortgage.com, to discuss a Private Money loan mortgage. We have helped thousands of Californians over the past 34 years to purchase or refinance their own residence or a rental property. We can make your offer look better than others with a fast, all-cash close, often closing in 1 week to 1 month!

Making It Easier for Home Loans – Direct Financing

Making It Easier For Home Loans - Direct FinancingHome Loans Made Easy with Private Money

Have you or someone you know been turned down for a loan at the last minute?

We specialize in providing direct and fast financing for Owner Occupied/Primary Residences as well as Investment Properties. Credit issues, difficult-to-prove income, property doesn’t qualify – not a problem with us!  See recent examples below:

Recently FundedIf you, or someone you know, has been turned down by another lending institution, we can work with you to help get a fast Private Money loan!  Visit our website at www.sunpacificmortgage.com or give us a call to 707-523-2099.  We’ll quickly let you know what we can do to help.

What Will the Housing Market Look Like as the Rates Rise?

What Will The Housing Market Look Like As The Rates Rise?

The short answer to this persistent question is, “Nobody knows.”  This statement comes from Edward Seller, Associate Vice President for Housing Economics at the Mortgage Bankers Association.

So, where does that leave the everyday Homebuyer with rents soaring faster and steeper than mortgages? One Redfin Realtor said that she hears people are more worried about the stock market, rather than mortgage rates because they believe housing will be a better investment. Many Buyers see that the time is right for going all-out in bidding for scarce housing right now before it gets worse.

This anxiety regarding the unpredictability of rising rates explains the reason the housing market has not cooled yet and explains the surge in Buyers trying to get ahead of those higher rates now.

But do you keep getting turned away by other Lenders? Sun Pacific Mortgage has the answer with our Private Money loan programs: home or land purchases, refinancing, and bridge loans for business or commercial purposes. We have hundreds of Real Estate Investors who can finance your housing loans even if you do not qualify for conventional lending. Even poor credit, bankruptcy and less-than-perfect properties are not show-stoppers for our mortgage qualifications. Give us a call at 707-523-2099 or visit our website at www.sunpacificmortgage.com to discover a possible road to homeownership for you in these unpredictable times.

 

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