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Has It Really Been Over 3 Decades?

June 22, 2023

Bridge Private Money Program 1 Copy Trusted Lender For 35 YearsTrusted Lender For 35 years

Is your mortgage loan being turned down by other Lenders? Or just in need of a fast, short term home loan?

This is where we can help you or someone you know, with our fast, flexible alternative finance programs – also known as Private Money – just like we did below:

Recently Funded

Program: Primary Residence Refinance
Loan Size: 990k
Location: Contra Costa County
Why Came To Us: Borrower had poor credit and wanted to consolidate debt on high rate credit cards.

Program: Investment Property Refinance
Loan Size: 705k
Location:  Monterey County
Why Came To Us: Property condition poor and wanted the cash out to do a major rehab on this investment property.

Program: Owner-Occupied Bridge Purchase
Loan Size: 686k
Location: Sonoma County
Why Came To Us: Wanted to buy a new home prior to selling current house and debt to income ratios were inhibiting conventional lenders from helping.

Being in business for 35 years has allowed us to pretty much see it all! Call us at 707-523-2099 or visit our website at www.sunpacificmortgage.com with any questions or scenarios and we’ll get back to you quickly with what we can do to help.

Looking to Buy a House on Maui?

June 13, 2023

Maui Meadows Maui Scaled Maui Offers Tons Of Real Estate Variety For Those Looking To Buy A Piece Of Maui Real Estate. Upcountry Maui Real Estate Is Located At Elevations Between 1,000 And 4,000 Feet Above Sea Level Where The Air Is Cooler. North Shore Puts You Right In The Heart Of One Of The World’s Favorite Surfing Spots, And Kihei, Makena, And Wailea Offer Plenty Of Tourism Attractions Along With Lahaina, Ka’anapali And Wailuku.

Maui offers tons of real estate variety for those looking to buy a piece of Maui real estate. Upcountry Maui real estate is located at elevations between 1,000 and 4,000 feet above sea level where the air is cooler. North Shore puts you right in the heart of one of the world’s favorite surfing spots, and Kihei, Makena, and Wailea offer plenty of tourism attractions along with Lahaina, Ka’anapali and Wailuku.

There is no major city in Maui. This Valley Isle is known for its unique beauty, incredible beaches, charming small towns, and some of the best surfing destinations in the world. Its rich farming tradition provides an elevated culinary experience as well.

Maui is the second largest island in Hawaii and although some countries saw a drop in home prices at the start of the new year, Maui County was the only one in the state to exceed a $1million median for single-family homes.

The median sales price for Maui County single-family homes in January was $1.2 million, a 0.4% increase from the same month last year.

If you are considering a primary home, a second home or an investment property in Maui, give Sun Pacific Mortgage & Real Estate a call at 707-523-2099 to find out the many benefits of Private Money loans.

These fast and unique mortgages are based on the equity of the home being purchased, not on your credit scores. We offer mortgages to those borrowers who find it difficult to prove their income.  Additionally, we close our loans in 2 weeks on average with many done in less than 1 week. Find more information at www.Sunpacificmortgage.com and we look forward to being able to help.

Why Not Just Go Quick and Direct Lending?!

June 8, 2023

Untitled Our Direct Private Money Loans Can Get That Refinance Or Purchase Loan Done When A Traditional Lender Unfortunately Cannot. And, We Can Quickly Fund!

Our Direct Private Money loans can get that refinance or purchase loan done when a traditional Lender unfortunately cannot. And, we can QUICKLY FUND!

Recently Funded

Program: Investment Property Refinance
Loan Size: 810k
Location: San Diego County
Why Came To Us: Self-employed with difficult to prove income.

Program: Investment Property Purchase
Loan Size: 752k
Location: Contra Costa County
Why Came To Us: Turned down at last minute by traditional lender and needed a fast loan to close within 9 days, so wouldn’t lose out on a large down payment.

Program: Primary Residence Business Purpose Refinance
Loan Size: 695k
Location: Los Angeles County
Why Came To Us: Owned property free and clear and needed fast capital to invest in rapidly expanding business.

Call us at 707-523-2099 today or visit our website at www.sunpacificmortgage.com with any questions or scenarios you have. We’ll get back to you quickly with how we can help you or someone you know.

Bay Area Peninsula Real Estate Market Report – 2nd Quarter 2023

May 30, 2023

What Happened With San Francisco And The Peninsula Real EstateBay Area Peninsula Real Estate Market –

2nd Quarter 2023

Once again, the real estate market on the Peninsula saw ups and downs. The good news (or bad news depending on your perspective) is that this month saw more ups than downs for the average sales price paid by home buyers versus the asking price.

Menlo Park:

$3,537,875
Down 1% from asking 25 days on the market

San Carlos:

$2,341,714
Up 4% from asking 17 days on the market

Foster City:

$2,347,500
Up 4% from asking 36 days on the market

San Mateo:

$2,019,863
Up 1% from asking 36 days on the market

Belmont:

$2,395,000
Up 2% from asking 24 days on the market

Burlingame:

$3,450,820
Up 1% from asking 32 days on the market

If you are looking to buy a house in California and would like to create a stronger purchase offer – to beat out multiple offers – consider the fast Private Money options.   These can offer 10 day closes or less!  And Private Money, also known as Hard Money or Alternative financing, is more forgiving on its qualifications so any possible issues with property condition won’t be an issue with this type of financing.  Could be that step up you’ve been looking for to buy in this market! Visit our website at www.sunpacificmortgage.com or call today (707) 523-2099.

San Francisco Real Estate Market – Start of 2nd Quarter 2023

May 23, 2023

San Francisco Real Estate

The real estate market in San Francisco saw a slight downward motion at the beginning of Q2 of 2023, for single-family residences. However, the condo market saw a slight uptick.

 

Average Sales for Single Family Residences:
April: $2,148,830
March: $2,295,548
Down: $146,718
Average Days on the Market was 30 days.

 

Average Sales for Condos:
April: $1,378,035
March: $1,244,057
Up: $133,978
Average Days on the Market was 54 days.

 

If you are looking for a profitable niche for your retirement, look no further than investing in California real estate. You don’t need to be a landlord to get in on this valuable asset, you can invest in Deeds of Trusts, for higher returns.  Sun Pacific Mortgage & Real Estate is one such company, licensed Brokerage since 1988, that offers regularly available Deeds of Trusts throughout California and Hawaii.  Call 707-523-2099 or check out the investor webpage for further information and a contact form: https://www.sunpacificmortgage.com/invest-in-trust-deeds/

Honolulu Housing Market Trends

May 16, 2023

Honolulu Real Estate

In March 2023, Honolulu home prices were up 9.0% compared to last year, selling for a median price of $594,000. On average, homes in Honolulu sell after 78 days on the market compared to 56 days last year. There were 316 homes sold in March 2023, down from 467 last year.

Between January 2023 and March 2023, 40% of Honolulu homebuyers searched for homes outside of Honolulu, while 60% looked to stay within the metropolitan area.  San Francisco homebuyers were the top metro who searched to move to Honolulu.

Looking at all of Hawaii, in March 2023 there were 5,062 homes for sale, down 10.6% year over year. The market remains in the seller’s court, much like the rest of the mainland.

For Homebuyers, Homeowners, Real Estate agents and conventional Mortgage Brokers, Sun Pacific Mortgage & Real Estate’s fast, alternative Private Money mortgage programs can be of great benefit to today’s real estate market in Hawaii.

This type of real estate loans can provide 10 day closes or less! There is no debt-to-income ratio requirements nor credit requirements!  Financing is offering in each of the main areas of Hawaii, including: Hawaii County, Honolulu County, Kauai County, and Maui County.

If you are shopping for a second home in one of these counties or want to pull cash out of real estate for some business purpose,  give us a call at 707-523-2099 or email us through our website at www.Sunpacificmortgage.com

How to “bridge” the gap the between buying and selling your home!

May 9, 2023

Istockphoto 483821958 612X612 1 What Options Would A Buyer Have If They Find The Home They Want To Buy, But Haven’t Sold Their Present Home? If The Buyer Needs The Funds From The Sale Of Their Present Home As A Down Payment On The New Purchase, They Can Look To A Bridge Or Temporary Loan To Solve Their Problem. A Bridge Loan Is A Loan That Helps A Current Homeowner Buy Another New Home, Prior To The Sale Of Their Current House.  Once The Sale Is Finalized, The Bridge Loan Is Generally Paid Off From The Proceeds Of The Sale.

What options would a buyer have if they find the home they want to buy, but haven’t sold their present home? If the buyer needs the funds from the sale of their present home as a down payment on the new purchase, they can look to a bridge or temporary loan to solve their problem. A bridge loan is a loan that helps a current homeowner buy another new home, prior to the sale of their current house.  Once the sale is finalized, the bridge loan is generally paid off from the proceeds of the sale.

At Sun Pacific Mortgage we cater to this type of loan with a program that allows the borrower to obtain a short-term private money loan, with interest only payments. We have investors who will lend amounts up to $1.5 million. The interest rates are generally based on the loan to value – and can be a Bridge refinance loan for cash out of current home, a Bridge purchase loan to help buy the new home, or a Bridge loan that includes both the current home equity & the new home equity.

There is no prepayment penalty associated with this loan, but we do look for a loan to value of least 65% for refinances and up to 75% for purchases. Also, debt to income ratios are not considered with this loan program, nor is FICO scores.

If this is a solution to one of your problems, or the situation one of your clients is facing, visit our website at www.sunpacificmortgage.com or please call us at 707-523-2099 to find a fast, alternative and flexible solution.

2023 California Housing Market Continues to Stabilize

May 2, 2023

Model House On A Financial Graph

Most housing analysts expected 2023 to be a rough year for the U.S. housing market. In fact, among the 29 major housing forecast models, 24 forecasted a national home price decline for 2023.

But, so far, that hasn’t proven to be true.

Through the first few months of 2023, the U.S. housing market continues to show signs of stabilization. Existing and new home sales have inched up a bit this year, and homebuilder confidence has improved. Firms like Zillow, CoreLogic, and Black Knight have all reported positive month-over-month home price increases this Spring.

What’s going on? For starters, a lack of homes for sale, coupled with the market entering its busier Spring period, has, at least for now, pushed the national housing market back into equilibrium.

Don’t misread the above statement and think that the housing market is normal just yet. Some housing markets are booming right now, while others, like San Jose, are still passing through a home price correction.  Even within a particular market, it can vary considerably.

According to Zillow, among the 1,563 California ZIP codes tracked, 6.7% saw home price increases between December 2022 and March 2023. The other 93.3% of California ZIP codes saw a home price decrease, if only slightly.

CoreLogic, a real estate research firm, expects U.S. home prices to rise 3% between January 2023 to January 2024. If CoreLogic is correct, then U.S. home prices would end 2023 back at price levels achieved at the height of the boom in June.

It is good to remember that the appreciation in California home values during the past 2 years was about 15%, so these slight declines should not deter buyers from jumping into the real estate market.

If you are looking for a private real estate loan, and can’t qualify for a conventional loan, look no further than Sun Pacific Mortgage. We have been lending to California real estate investors for over 35 years. Give us a call at 707-523-2099 or find us at www.sunpacmortgage.com.

 

Looking To Get A Refinance Done?

April 27, 2023

Tough Time Refinancing If You Or Someone You Know Are Having A Tough Time Getting Loan Approval For A Purchase Or Refinance, Don’t Lose That Loan, Give Us A Chance To Help With Our Trusted Private Money Lending Programs – Just Like Was Done Below:Don’t Lose That Loan – Private Money Can Help!

If you or someone you know are having a tough time getting loan approval for a purchase or refinance, don’t lose that loan, give us a chance to help with our trusted Private Money lending programs – just like was done below:

Recently Funded

Program: Investment Property Refinance
Loan Size: 904k
Location: Marin County
Why Came To Us: Self employed with difficult to prove income.

Program: Owner-Occupied Business Purpose Refinance
Loan Size: 720k
Location: Sonoma County
Why Came To Us: Wanted to do business debt consolidation to improve credit, and get extra cash to complete building an ADU behind a rental property, to create additional cash flow.

Program: Primary Residence Bridge Purchase
Loan Size: 642k
Location:  Santa Cruz County
Why Came To Us: Didn’t want to sell current house prior to buying a new home for the family, and couldn’t get a loan elsewhere due to high debt to income ratios.

We have helped many Borrowers get their loan done and funded fast! If you or someone you know are having a tough time getting approval from their Lender – give us a call at 707-523-2099 or visit our website at www.sunpacificmortgage.com.  We’ll let you know quickly how we can help you not lose out on that refinance or purchase loan.

A Look at Northern California Real Estate in April

April 18, 2023

Genmid.ndp2302742 1 2 Jpg If We Look Specifically At The Sonoma County Real Estate Market From Late 2022 Through Mid-April 2023, We Can See That Buyer Demand Seems To Have Rebounded From The Historic Mid-Winter Doldrums. The Signs That Things Are Looking Up Include The Percentage Of Listings Going Into Contract, Overbidding Picking Up, And The Days On The Market Decreasing.

If we look specifically at the Sonoma County Real Estate market from late 2022 through mid-April 2023, we can see that buyer demand seems to have rebounded from the historic mid-winter doldrums. The signs that things are looking up include the percentage of listings going into contract, overbidding picking up, and the days on the market decreasing.

The median home price in the 10 Northern California counties during the past 4 months through mid-March 2023 are indicative of a robust real estate market:

  • San Mateo County: $1,550,000
  • San Francisco County: $1,400,000
  • Santa Clara County: $1,393,000
  • Marin County: $1,248,500
  • Santa Cruz County: $1,150,000
  • Alameda County: $968,000
  • Sonoma County: $750,000
  • Monterey County: $702,500
  • Contra Costa County: $670,000
  • Solano County: $538,000

We have entered the seasonal period where inventory begins to pick up and some counties are even seeing selling prices exceeding asking prices.

If you need help with a mortgage loan because you need a fast closing or your credit is not up to par, give Sun Pacific Mortgage a call to see if you qualify for a private mortgage from us. You can reach us at 707-523—2099 or find us at www.sunpacmortgage.com.

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