Home > Articles by: Broker

Hard Money in California

November 21, 2023

Why Should You Invest In Real Estate Today

Hard money (aka. Private Mortgages) is essential in California’s top county real estate markets – such as Sonoma, Marin, Santa Cruz, San Luis Obispo and others – for several powerful reasons.

We know our real estate market has always been fast paced and competitive, making the cumbersome approval process and strenuous qualifying demands from lenders a serious stumbling block for many a borrower. A number of these qualifying problems can be solved for buyers & borrowers, with a private money loan to finance their property investments – be it a purchase or refinance.

Hard money allows far more flexibility than other conventional types of financing without the hassles of institutional lending. It allows for quick access to capital so that investors can secure opportunities and address time-sensitive projects without the nail-biting associated with conventional lending.

Additionally, private money lending is a viable option for borrowers who may not meet the strict criteria of conventional lenders. Because borrowers may access this type of loan for different real estate purposes, e.g., owner-occupied residential, commercial real estate, and land opportunities, they can benefit from the flexibility and speed of a private mortgage making it a significant element in California’s real estate market.

Feeling Grateful for Private Money

November 16, 2023

Feeling Greatful Don’t Let Your Purchase Or Refinance Fall Through! Let Us Help You With Our Fast Private Money Loan Programs, Just As We Did Below:Don’t let your purchase or refinance fall through! Let us help you with our FAST Private Money Loan Programs, just as we did below:

Loan of the Week

Program: Owner Occupied Refinance for business purpose use
Loan Size: $515,000
Loan to value: 53%
Location: Marin County
Why Came To Us: Borrower was being turned down elsewhere due to some credit issues.  But because their house had a healthy amount of equity in it, we were able to quickly get their needed loan approved, financed and cash in hand within just 15 days!

Don’t get bummed about your deal falling through in today’s market! Give us a call at 707-523-2099 or visit our website www.sunpacificmortgage.com with any questions or scenarios.  We’ll be happy to get you a proposal on how we can help.

Get Re-Leaf From Stressful Financing

November 9, 2023

Autumn Promo 10 20 21 Edit1 Copy Make This Month Less Stressful For Yourself, By Taking Advantage Of Our Fast Private Money Loan Programs - Just As Was Done Below

Make this month less stressful for yourself, by taking advantage of our FAST Private Money Loan Programs – just as was done below

Recently Funded

Program: Owner-Occupied Refinance for Business Purpose
Loan Size: $825,000
Loan to value: 55%
Location: San Jose, CA
Why Come To Us: Wasn’t fully completed with construction of an investment property so wanted to refinance with cash out so could optimize his return on investment.

Program: Primary Residence Purchase
Loan Size: $916,000
Loan to value: 55%
Location: Contra Costa, CA
Why Come To Us: Difficult to prove income as self employed.

Program: Rental Property Refinance/Cash-Out
Loan Size: $500,000
Loan to value: 52%
Location: Sebastopol, CA
Why Come To Us: Needed fast financing to buy out a family member on an inherited home.

Need a sigh of re-leaf and don’t know where else to turn to? Give us a call at 707-523-2099 or visit our website www.sunpacificmortgage.com with any questions or scenarios.  We’ll quickly answer with what we can do to help!

An Unexpected Building Boom – California Real Estate New Construction

October 31, 2023

Califonira New Home Construction Homebuilders In California Are Not The Only Ones Busy During The Last Couple Of Months In A Surprise Surge, According To Dan Burns In Reuters.

Homebuilders in California are not the only ones busy during the last couple of months in a surprise surge, according to Dan Burns in Reuters.

“Groundbreaking on U.S. single-family homebuilding projects surged in May by the most in more than three decades.”

The Commerce Department said it reached a seasonally adjusted pace of 1.6 million units per year. This statistic indicates that homebuilding increased at the fastest rate since January 1990.

Permits for future construction also climbed suggesting the housing market may be turning a corner. Homebuilders are liking this market because the “rate-locked” present homeowners are not selling, making new homes much more available to the present buyers.

Throughout many of the populated California Counties, such as Marin, Sonoma, Santa Cruz, Sacramento and others, there are plenty of buyers increasingly looking at new construction and many builders are enjoying the improved supply chain which has lowered material costs.

If you are looking to purchase one of the more available newer constructions, consider a privately financed mortgage through Sun Pacific Mortgage. We are not limited to providing loans to the “pristinely perfect” credit score population. Property condition is also not an issue with us. Our Lenders have an interest primarily in the equity available in the property so a good down payment or existing equity on real estate you want to pull cash out on, is what is concentrated on.

If you are considering buying or refinancing in California or Hawaii, give us a call at 707-523-2099 or find us at www.sunpacmortgage.com.

How Can Bridge Loans Help?

October 24, 2023

Bridge Loan

In today’s market of lower housing inventory, California homebuyers can look to this real estate financing program to assist in getting that new home.

Bridge financing allows the potential home buyer to offer a stronger purchase offer, with shorter days to close and an offer with the next best thing to all-cash offer – Private Money.  This is a proposition that many sellers could consider a huge bonus! Any resident of the Bay area, northern California and southern California, should be made aware of this as an option.

One of the most popular financing programs with us is our bridge loan program. When a borrower wants to purchase a new home before selling their current house, a bridge loan with us gives them the down payment they need to get into the new home with the convenience of a stress-free move.  It also overcomes the home loan qualification problem of high debt-to-income ratios, which can happen when you buy a new home while still owning your current home – 2 mortgages.

Our program’s conditions include a fixed rate with no prepayment premium for an 11-month term of interest only payments. We can offer this program for single family units as well as 1 – 4 units, when the buyer or borrower is going to be living in one of these units.

If this looks like a solution to your concerns about not selling your home before buying a new one, give our family owned & operated Private Money company at Sun Pacific Mortgage & Real Estate a call at 707-523-2099 or reach us through our website at www.sunpacificmortgage.com.

Higher Mortgages are Here to Stay for the Foreseeable Future

October 10, 2023

Private Lender An Article In Nerdwallet Caught My Attention Recently. It Stated That The Era Of Low Mortgage Rates Is Over And Embracing This Reality Will Speed Up Owning A House That Meets Your Needs.

An article in NerdWallet caught my attention recently. It stated that the era of low mortgage rates is over and embracing this reality will speed up owning a house that meets your needs.

Low rates were the norm for 11 years, as the 30-year mortgage remained below 5% from February 2011 to April 2022. Since that time, it has remained mostly above 5% averaging 6.72% in June 2023. And now in August of 2023 it’s gone up just above 7%.

Buyers are tempted to be in denial, but the reality is higher rates are here to stay for the near future.

“People are still working through their five stages of grief on this mortgage rate stuff,” says Lisa Sturtevant, chief economist for Bright MLS, the real estate listing service for the mid-Atlantic region. “And I think you have to reach the stage of acceptance at some point that certainly rates aren’t going to come down to where we were back during 2020 and 2021.” (When the median 30-year rate was 2.99%.)

Real Estate still remains a strong investment – as a first time homebuyer, homebuyer looking to downsize and even for investors. If you are looking to increase the strength of your purchase offer and make it a faster close with the next best thing to an all-cash offer, consider a privately funded loan from the investors at Sun Pacific Mortgage. Call us at 707-523-2099 or find us at www.sunpacificmortgage.com.

ProHousing Awards in California

October 3, 2023

Prohousing Awards In California In June 2023, The California Department Of Housing And Community Development (“Hcd”) Announced 18 Jurisdictions To Receive More Than $33Million As Part Of The First Round Of The Prohousing Incentive Pilot (“Pip”) Program Funding.In June 2023, The California Department of Housing and Community Development (“HCD”) announced 18 jurisdictions to receive more than $33million as part of the first round of the Prohousing Incentive Pilot (“PIP”) Program funding.

The HCD is determined to alleviate California’s housing crisis by making additional community development resources available to local governments with the Prohousing Designation.

This award is paired with an impactful grant to create and conserve affordable housing. To date, the following cities have been awarded this distinction and funding: El Cerrito, Emeryville, Fresno, LA, Needles, Oakland, Rancho Cordova, Redwood City, Riverside, Roseville, Sacramento, Salinas, San Diego, Stockton, Ukiah, West Sacramento, San Diego, Yuba, Sonoma, Windsor, Long Beach, and most recently Santa Rosa.

The HCD is determined to alleviate California’s housing crisis by making additional community development resources available to local governments through PIP.

This designation gives these cities added points when competing for affordable housing, transportation, and infrastructure dollars, and allow their local governments to speed up the production of housing and further scale up its efforts to meet critical housing needs.

To receive the Prohousing Designation, cities and counties must demonstrate that they are promoting housing development in a variety of ways, including but not limited to streamlining multifamily housing developments, up-zoning in places near jobs and transit to reduce emissions, and creating more affordable homes in places that historically or currently exclude households of color and those earning lower incomes.

At a time in our economy when housing is so tight and homeowners are “mortgage-locked” into their existing houses, this government subsidy will help ease the pressure.

Real Estate is a good investment – as a buyer or investor – and this is a good time to buy a home.

Need Trusted, Flexible Financing?

September 28, 2023

Untitled Are You Running Into Stops Or Difficulties Getting Home Financing Approval? You Won’t Have These Stops With Us!

Are you running into stops or difficulties getting home financing approval? You won’t have these stops with us!

At our family owned and operated company, we have helped well over 10,000 Buyers & Borrowers with our trusted and fast Private Money Programs – just like below:

Loan of the Week

Program: Investment Purchase
Loan Size: $720,000
Loan to value: 44%
Location: Sonoma County
Why Came To Us:  Conventional financing institution turned down this Borrower at the last minute, due to debt-to-income ratio being too high.  Escrow was supposed to close in just 12 days, but a loan was still needed.  We got right to it with our flexible Private Money programs, resulting in the needed loan with a very happy Borrower because Escrow successfully closed on time!

Call Us at 707-523-2099 or visit our website at www.sunpacificmortgage.com to see how we can help you, a family or a friend!

 

The Hottest ZIP Codes in California Today

September 19, 2023

Californiarealestatehot We Are All Aware That The Housing Market Has Slowed Considerably This Year, Especially If We Compare It To The Past Pandemic Fueled Frenzy Of 2020-2022. The Obvious Reasons For This Slump Are The High Interest Rates And Low Inventory In A Very Competitive Market, But There Are Still Some Areas, Even In California, Where There Is Still Heightened Activity.

We are all aware that the housing market has slowed considerably this year, especially if we compare it to the past pandemic fueled frenzy of 2020-2022. The obvious reasons for this slump are the high interest rates and low inventory in a very competitive market, but there are still some areas, even in California, where there is still heightened activity.

This month in the SFGate they reported on a survey that was done by Realtor.com recording the most recent hottest ZIP codes in the country’s various metro areas. The rankings were based on a combination of market demand measured by views on Realtor.com and how fast homes sold. The list includers only one hot ZIP code per metro area. In California Livermore was the hottest spot in the Bay Area and Bakersfield was the most desirable in the Central Valley.

Livermore’s 94550 ended up at No.44 on the list with a median list price of $1.4 million. Granted, the area isn’t exactly affordable, and yet homes attracted more than double the attention per property and spent less time on the market compared with the greater San Francisco metro area.

Another surprising city which made the list was Bakersfield’s 93309 which landed at No. 24. It had a median list price of $340,000 in June 2023, a much more affordable price in a much more affordable metro area in the state.

In 2022, the only California market to crack the top 50 was Eureka, which took the 28th spot. The medium home price at the time was $480,000, but this year homes in the area are staying on the market longer causing it to drop off the list.

Prices have risen dramatically in the past few years in California, and no ZIP code has made it to the top 10 hottest ZIP codes since 2019.

If you are a hopeful buyer in this stressful economy, and if you have tried to qualify for a convention mortgage and failed, don’t despair! Sun Pacific Mortgage has rescued thousands of buyers just like you over the past 35 years. We have a family of investors who are willing to offer you a privately financed loan allowing you to realize your dream of homeownership today. Give us a call at 707-523-2099 or find us online at www.sunpacificmortgage.com.

Posts navigation

1 2 3 4 5 6 … 30