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Financing From Long-Time Lenders

December 5, 2019

Financing From Long Time Lenders

You no longer need to worry about having unexpected charges added to closing costs or being “turned down elsewhere” at the last moment!  You can trust The Guys in the White Hats to be honest with your loan, from start to finish. 

And for someone who just missed qualifying for conventional financing, take advantage of our new Alt-A Hard Money program with rates as low as 6%*. 

Call today 707-523-2099 or email back with any questions or scenarios.  We will let you know quickly how we can help!

Recently Funded Loans

Location:  Napa, Napa County
Why Came To Us: Had difficult to prove income and was self employed so not having success with other lending institutions. 
Loan Program: Non-Owner-Occupied property, cash-out for business purpose.
Loan Size: $525,000 with 66% LTV
Days To Finish: 2

Location:  Murrieta, Riverside County
Why Came To Us: Had a couple of late payments on mortgages so wasn’t qualifying for financing with others. Needed additional cash for property fix-ups and this issue does not conflict with our finance requirements. 
Loan Program: Investment property refinance with cash out. 
Loan Size: $650,000 with 64% LTV
Days To Finish: 17

Location:  Geyserville, Sonoma County
Why Came To Us: Owned multiple properties with debt-to-income ratio in question with other lenders, so taking too long for financing. 
Loan Program: Non-Owner-Occupied property, cash-out for business purpose. 
Loan Size: $450,000 with 46% LTV
Days To Finish: 20

Location:  Apple Valley, San Bernardino County
Why Came To Us: Had credit issues and wanted to do debt consolidation to improve scores. 
Loan Program: Primary Residence Refinance
Loan Size: $235,000 with 67% LTV
Days To Finish: 19

 

*APR for this rate based on a $200,000 first mortgage is 6.31%. 

Let’s Be Clear: Hard Money Is Fast!

November 27, 2019

Transparency

Transparency from an expert lender assures faster funding and piece of mind.

With us, you now have a resource to handle almost any Homebuyer or Borrower profile that is less than “A” quality, and still get reasonable rates:

– One-of-a-kind Alt-A Hard Money Program with rates as low as *6%!

– Fastest funding within 48 hours!

Hard Money Loan of the Week

A past borrower of ours called us up, in need of fast financing. He owned a few investment properties in Napa County that were free & clear and wanted to use this   available equity to pull cash out for additional funds he needed for business capital.

With a 66% loan to value, he was hoping to get a $525,000 loan.  We easily got approval on the same day and, to the borrower’s delight, funded this loan within just 48 hours!

If you have any questions or scenarios, call us at 707-523-2099.  We will quickly get back to you and make it clear how we can help!

*APR for this rate based on a $200,000 first mortgage is 6.31%.

Investment Strategies: Stocks, Bonds, and Real Estate

November 19, 2019

Investment Strategies Stocks Bonds And Real Estate

Over the past decade, as stocks and bonds have become more volatile, investors seeking greater control have turned to private real estate investing.  Let’s examine which investment path has generated better returns for investors with lower risk.

  • BONDS RETURNS:  Bonds typically have lower risk and lower returns.  They often expire after a given amount of time and stop paying out any returns.  In a recent study encompassing the years from 1870-2015 the average bond yield was 2.5% annually and were often negative.  While bonds offer some stability, paying about the same amount to investors each month, the cost in lost returns over the long haul is high.

  • STOCK RETURNS:  Considered a liquid asset, meaning they can provide quick cash flow, income from stocks is passive and individual investors have little to no control over the amount of this income.  Stocks do allow for diversification over industries and there is no minimum amount to invest in them. The downside to investing in stocks is that it can take decades for them to produce significant income for investors, unless you are one of the lucky ones to get in on a successful IPO.  In the same report as above, these equities yielded 6.9% average annual return.

  • PRIVATE REAL ESTATE RETURNS:  These investments are considered an illiquid investment that is known for its lower risk and high returns.  In the same study referenced above for bonds, the rate of return for residential real estate yielded a 7.05% annual average return (average CA trust deed offering return is 8-12%).  Real estate is a physical asset that offers many benefits stocks and bonds do not. Profits can be increased through improving the valuation of the property or boosting rental income. Additionally, there is a tax benefit associated with real estate investments.

Historically, real estate investments have been viewed as a safe haven for investments and an opportunity to preserve wealth for generations to come.  It is plain to see why many investors make real estate investments an essential portion of their portfolios.

For those of you interested in investing in real estate for higher returns and live in California, call our office at 707-523-2099 and maybe we can get some business going.  Here at Sun Pacific Mortgage we have been in business since 1988 offering alternative financing for real estate needs. 

Unique Alternative Financing!

November 7, 2019

Unique Alternative Financing

Unable to get a home loan or refinance because you just missed out on qualifying for conventional financing?  Need a FAST loan? We are uniquely qualified to help with our Hard Money Loan Programs: 

– One-of-a-kind Alt-A Hard Money Program with rates as low as *6%.

– Fastest funding within 48 hours.

Hard Money Loan of the Week

A Mortgage Broker called us up, hoping to get quick assistance for his client.  She had been to a few other lending institutions and was starting to worry she couldn’t get a loan, due to some issues with proving income.  

She owned an investment property in Granada Hills of San Fernando Valley and was hoping to use the equity to get a short-term loan of $454,000.  All she wanted to do was consolidate high credit card debt and handle some other bills. 

This wasn’t a problem for us.  Within just 12 days, at a 56% Loan To Value, we had her Hard Money loan financed and money in hand!

If you have any questions or scenarios you would like us to review, call 707-523-2099.  We will quickly show you how to make getting a loan less terrifying. 

*APR for this rate based on a $200,000 first mortgage is 6.31%.

Getting Back To Work To Support Our Community

October 30, 2019

Getting Back To Work

Pushing ourselves and others back to work to provide needed services to our community is valuable – and very appreciated we have discovered!   

Things may seem bleak with the Kincade fire, many evacuations and power outages but it’s up to us to create some good.   With a team effort we can strengthen our community. Immense thanks to all First Responders…and many thanks to those who are back in business to service our community despite it all:

To Local Business Heroes – Thank You!

– Golden State Overnight mail delivery services is up and running with an early morning delivery from a happy worker!

– Local company Signs Par Excellence business owner, Michael Flanagan said “I opened this morning because my employees want to work and I know there are customers who are expecting us to deliver.”

– Some places may feel like it’s a ghost town but there are restaurants open for business!  Mary’s Pizza Shack in downtown Santa Rosa was super busy at lunch. Port of Sub on West College was also open and busy serving happy customers. There are places open so get on out and enjoy yummy, hot lunches and dinners!

– Today most of Mendocino Ave businesses & stores are closed.  But not us at Sun Pacific Mortgage!  We’re working to complete loan transactions by end of month for all the Borrowers & Buyers who still hope to close on a new home or loan!

If we can be of service with our fast Hard Money loan programs, just call us at 707-523-2099.  We’re here to help.

Recently Funded – Scary Good!

October 22, 2019

Recently Funded – Scary Good

Getting approval for a home loan or refinance does not have to be painful – or scary!

With our new Alt-A Hard Money program, you can get rates as low as *6%, fast approvals and many loans funded in less than 1 week.

If you or a client is trying to get a loan, give us a call at 707-523-2099 and we will show you how getting a home loan can be less scary!

Recently Funded Through Our Office:

Location:  Santa Rosa, Sonoma County
Loan Size: $882,500 with 61% LTV
Days To Finish: 17
Program: Non-Owner Purchase
Scenario: Was looking for a stronger purchase offer, with short closing date and no loan contingency, which we could offer.

Location:  Covina, Los Angeles County
Loan Size: $455,000 with 62% LTV
Days To Finish: 11
Program: Primary Residence Temporary Refinance
Scenario:  Borrower had poor credit and wanted to consolidate debt on high rate credit cards and some other overdue bills.

Location:  Vallejo, Solano County
Loan Size: $560,000 with 70% LTV
Days To Finish: 15
Program: Non-Owner Occupied Business Purpose Refinance
Scenario: Difficult to prove income.  Looking for cash-out to get capital for business.

Location:  LA, Los Angeles County
Loan Size: $382,000 with 61% LTV
Days To Finish: 18
Program: Primary Residence Temporary Refinance
Scenario: Other Lending institution was unable to carry through on prior loan approval so got turned down at the last minute due to question about debt to income ratio.  

Landscaping 101: Blunders and Remedies

October 15, 2019

Landscaping 101 Blunders And Remedies

Landscaping can be an expensive item on one’s household budget.  Making mistakes can be costly and disappointing. Here is a list of some factors to consider that can assist getting a greater yield on your investment:

  • Improper Plant Placement:  Sunlight and exposure are extremely important to the health of any plant.  You need to be aware of how big the plant will get. Check the tag on your plant or ask advice from your neighborhood nursery. 
  • Trees:  One of the quickest ways to kill a tree is to plant it too far into the ground. This is the surest way to encourage root rot. The hole should be the size of the root ball.
  • Plant Like a Painting:  Place your containers where you want them, and then go inside and look through your window to see what they’ll look like before you plant.  It should look like a painting framed by your window.
  • Curb Appeal:  Instead of putting your energy and money into the backyard, which many homeowners do, improving the front of the house where first impressions are made could be a better use of your funds.  Three simple improvements go a long way: paint the front door, keep the grass trimmed, and plant colorful flowers.
  • Make a Plan:  Buying plants without a plan can be tempting, but very expensive.  Before setting out to the nursery, decide on a color palette that you would like.  Consider the color of your house and then choose one color that really frames it.  

 

Landscaping can be 30% more expensive than any other type of home improvement project.  There is always a lot of sticker shock at the nursery. We tend to think, “It’s just a couple of plants.”  When we are faced with the total bill for the wagon load of beauties we have chosen, we realize we just blew the entire budget!   Avoid unnecessary do-overs or “buyer’s remorse” by doing your research before you go to the garden center. 

Sun Pacific Mortgage Offers New & Unique Alt-A Hard Money Program

October 8, 2019

Sun Pacific Mortgage Offers New Unique Alt A Hard Money Program

We have been a Money Lender for over 3 decades and have recently begun offering a new type of loan Program for the many home buyers and borrowers who are turned down elsewhere for a real estate loan: an Alt-A Hard Money Program!

We are located in Santa Rosa (Northern California) and are licensed for lending throughout the state. This one of a kind Alt-A Hard Money loan is the perfect solution for a home buyer or borrower who just cannot get approved for a home loan, by another conventional or traditional lending institution.  They miss qualifying by a slim margin; In other words, they are almost qualified for a standard bank loan but not quite. 

Here at Sun Pacific Mortgage, this Alt-A Hard Money loan provide the solution to those who want to buy a home or refinance but get told “no”.  These typically have rates from *6-8% – which is considerably lower than the average Hard Money rates. This program is for borrowers and home buyers with a credit score of 640 or higher, a 35% or more down payment, and on a property in good shape and in a good neighborhood. Many borrowers with this type of loan will end up refinancing in a year or two when their credit improves or the other disqualifying circumstance(s) resolves. 

Sun Pacific Founder, Owner, states “Because of the demand from both borrowers and Investors, we have begun offering this new loan, in addition to our traditional Hard Money Loan Programs. We have many Investors who are interested in these types of loans. For borrowers who are just shy of qualifying for “A” paper, you can quickly get approved for this lower-rate Alt-A Hard Money Program. And we can turn these loans around quickly, in 2 weeks or less.”

He continued, “Just recently we funded a loan. A real estate agent called with a rush request from her home buyer:  He needed a $599,000 short term loan to buy an investment property in Mill Valley.  His current lending institution was confused by his company being the buyer so was not approving the loan. His credit was over 750, he had a good down payment allowing for 59% loan-to-value, he made great monthly income and had a lot of other real estate assets as well as excess funds in the bank. He was a perfect borrower. Except he had to wait too long due to unnecessary confusions from his lender, so now he needed fast loan performance.  This is where we stepped in with our Alt-A Hard Money Loan program with a 6%* rate and had his loan funded in just under 1 week!”.

Our family company was founded in Sonoma County in January 1988, to provide honest real estate transactions and alternative financing to the community.  To this day it is still family owned and operated. 

We offer their traditional Hard Money Loan Programs and Alt-A Hard Money for real estate needs throughout all of California. From the moment the company started, we have specialized in borrowers and home buyers who were “turned down elsewhere”.  This financing is known as Hard Money or Private Money and is our specialty. Such loans are funded by individuals who live locally, therefore there are less qualifications and it is faster to get the funds – unlike other lending institutions which require much more qualifications and require 30-90 days to funding. 

Our website can be seen at https://www.sunpacificmortgage.com/ or we can be reached at (702) 523-2099.  We stand ready to get help you with a Hard Money loan where others turn you or a client down!

 

*APR for this rate based on a $200,000 first mortgage is 6.31%

Honest Hard Money

October 3, 2019

Honest Hard Money

A client or you just shy of qualifying for traditional financing?  Turned down elsewhere for a mortgage? We can help with our honest hard money loan programs!

– Backed by more than 30 years of trust!
– Fastest funding in just under 48 hours!
– New, one-of-a-kind Alt-A Hard Money Program with rates as low as 6%!*

Loan of the Week

A past borrower called us, wanting to pull cash out of his free and clear home in Mill Valley, Marin County.  He and his wife owned a business and needed some additional capital, as well as wanted to consolidate some credit card debts.  Due to their difficult to prove income, they were having issues with loan approval elsewhere. 

At 64% loan to value, we were able to get them their desired loan amount of $500,000 in less than 2 weeks. This primary residence cash out, business purpose loan was not a problem for us!

If you have any questions or scenarios you would like us to review, call 707-523-2099 or reply to this email.  We will quickly let you know what we can do for you. 

*APR for this rate based on a $200,000 first mortgage is 6.31%.

Alt-A Hard Money Is Hot – No Bull!

September 26, 2019

Alt A Hard Money Is Hot No Bull 

Have a strong borrower who just misses qualifying for traditional “A-paper” financing? This is where our Alt-A Hard Money program can help with a loan turned down at the last moment!  

This new Alt-A Hard Money program is one-of-a-kind and is hot with other real estate agents, mortgage brokers, lenders and their borrowers & home buyers!  Offering lower rates between 6%-8%*. 

Main qualifications are: 

– 65% Max Loan To Value.
– Property in good location and condition.
– Good credit 640 or up. 

Hot Alt-A Hard Money Loans Recently Funded: 

Location:  Mill Valley, Marin County
Why Came To Us: Turned down by conventional lender at last minute.  
Scenario: Investor didn’t want to lose out on a good purchase so needed a fast cash offer to close the deal. 
Loan Size: $599,000 with 59% LTV
Days To Finish:  8

Location:  Santa Rosa, Sonoma County
Why Came To Us: Had IRS lien with difficult-to-prove income.
Scenario: Needed additional funds to complete remodel so she could then resell.
Loan Size: $882,500 with 61% LTV
Days To Finish: 17

Location:  San Juan Capistrano, Orange County
Why Came To Us: Self-employed with difficult to prove income.  
Scenario: Home Buyer had a sizeable down payment with good income, but unable to get loan approval elsewhere due to being self-employed just in the past year. 
Loan Size: $1,350,000 with 48% LTV
Days To Finish: 20

Location:  Sonoma, Sonoma County
Why Came To Us: Turned down by underwriting due to an issue with proof of income. 
Scenario: Escrow was due to close shortly but buyer now had no loan approval, so home buyer’s Agent reached out to us to rescue her buyer’s transaction.  
Loan Size: $800,000 with 57% LTV
Days To Finish:  11 

If you have any questions or scenarios for us to review, call 707-523-2099 or reply to this email.  We will let you know quickly what we can do for you!

Best, Broker & Broker – The Guys in the White Hats

*APR for this rate based on a $200,000 first mortgage is 6.31%. 

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