Home > Articles by: Broker

Loan of the Week – 2nd Generation Strong

December 12, 2019

2Nd Generation Hard Money Lenders

You and/or your clients will have no doubts or reservations when working with our family owned & operated company to get alternative financing, also known as Hard Money:

  • Trusted by more than 10,000 borrowers after more than 3 decades in business!
  • You won’t need to wonder if we can get you fast financing – we’ve funded many in less than 5 days!
  • Don’t worry about being turned down at the last moment – we finance difficult-to-prove income, property condition, poor FICO issues and even fund jumbo size loans!

Loan of the Week

A Homeowner called us up with an urgent request to pull cash out of her property, located in Sonoma County.  She was self-employed with difficult to prove income and didn’t want to chance using another lending institution due to time constraints on a business deal she was trying to complete.

We quickly confirmed the property value and gathered the needed documentation.  With a 36% loan to value, her requested $360,000 loan was approved within just a few days and once all was said and done, she had cash in hand in just under 2 weeks!

Let us know if you have any questions or scenarios, by calling us at 707-523-2099. We will quickly reply with how we can help.

Taking the Fear Out of Home Buying

December 3, 2019

Taking The Fear Out Of Home Buying

The present state of the real estate market is classified as a “Seller’s Market”.  That alone is enough to frighten any potential home buyer. Add to that a first-time buyer’s anxiety and you have every reason for “buyer’s paralysis”.  It doesn’t need to be that way, though. With a well thought out plan, a trusted realtor, and a savvy mortgage broker anyone, even a first-timer, can find their dream home without losing their mind.  

Here are five tips included in a recent Realtor.com’s article:

#1:. Get Pre-Approved for a Mortgage Before You Start Your Search. 

Understanding your budget is critical to a satisfactory search.  The last thing you want to do is fall in love with a home that is out of your price range.

#2:  Know the Difference Between Your Must-Haves and Would-Like-To-Haves. 

Before you start your search, list and qualify all your “needs” and “wants” and “absolutely must haves”.  This list will help you stay focused on what is important as you view properties.

#3: Research and Choose a Neighborhood Where You Want to Live.

Take a test drive of the neighborhood you are considering.  It is wise to do this during commute time and in the evenings to see how much time it takes to get to school and work.  Check out the amenities and the school district.

#4: Pick a House Style You Love and Stick to It. 

Not every style home is a fit for every family.  Placement and number of bedrooms become critical in families with children.  

#5: Document Your Home Visits. 

It is a good idea to take pictures as you tour homes, because as you see many homes, the houses may begin to blur together.  Keeping notes on what you liked and didn’t like about each home can be helpful.

After you find the home of your dreams, and you are looking for a trusted mortgage lender, give Sun Pacific Mortgage a call at 707-523-2099.  We are a Hard Money Lender and we have alternative finance programs for those who are looking for stronger purchase offers with all cash or fast closes. We also can help those who don’t quite qualify for a conventional loan.  We have helped thousands over the past 31 years, and we would be happy to help you too.

Furniture Arrangement Matters

November 25, 2019

Furniture Arrangement Matters

It is important to consider the use of the space when designing furniture placement in a home. Be it staging a house to sell quicker or catch a higher purchase price; How about setting up one’s home for better comfort and entertainment. 

Furniture makes the room, but the placement of the furniture matters just as much as the individual pieces.  Placement sets the mood of the room and signals the overall tone. To state the obvious, too many pieces of furniture in a room can cause the layout to feel cramped.  For instance, if when entering a room, you immediately walk into the back of a chair or sofa, the space will feel closed off and uninviting. Each piece of furniture should have its own space to breathe.

Pathways within a room should feel natural and provide the best flow within the room as well as between rooms.  Space between the sofa and coffee table, as well as the sofa and an accent table, should allow room to walk around. This placement will make the room feel much lighter.

Strategic placement of seating in the TV room is paramount for optimal viewing. With that in mind, place your couch parallel to the TV and angle the side chairs on each end with a table available for drinks and food.  

Balancing the weight in the room is an easy way to create visual flow.  Too many chunky pieces (e.g. sofas) need a more delicate coffee table to help the room from becoming too heavy.  Pops of color and similar shapes are other ways to tie together the look of a room.

In the bedroom it is best to focus on maximizing comfort and functionality.  For instance, it should be easy to get in and out of the bed, even in the middle of the night, without stubbing your toe on the dresser.  Additionally, there must be enough space to fully open dresser drawers.  

The dining room should have enough space to circulate around the table comfortable for food and plate delivery.  And there should be enough space to get in and out of chairs comfortably.

Measuring your space before purchasing a new piece of furniture is advisable in order to save yourself heartache and money.  Otherwise, that sofa you fell in love with, in the store may become a decision you regret for a long time!

 

ALT-A Hard Money Offers FAST Funding!

November 21, 2019

Fastest

What can we do for you and your Borrower or Homebuyer? Get that loan funded and fast!

“I have recently got a hard money loan and am very pleased with the results. Broker has a powerful team that works fast and knows what they are doing. They coordinated with the escrow company, the lenders and me in record time

(2 weeks – and I had some issues to resolve with the county!).    [Sun Pacific] was on top of their game. JOB WELL DONE TEAM! Thank you. I will come back if I need a loan, I highly recommend this company.” – Happy Borrower, G.Q.

Rates as low as 6%* can be gotten with our Alt-A Hard Money program! If someone just misses qualifying for conventional financing for whatever reason, this could be just what they need.

Call us at 707-523-2099 with any questions or scenarios.  We’re ready to fund that loan fast!

Alt-A Hard Money Loans Quickly Financed By Us

Location:  Sonoma, Sonoma County
Why Came To Us: Needed fast capital for her business
Scenario: Looking for fast cash to capitalize on a business opportunity and owned property free & clear, so could pull cash out.
Loan Size: $420,000 with 30% LTV
Days To Finish: 4

Location:  Thousand Palms, Riverside County
Why Came To Us: Having difficulty proving income due to being self-employed.
Scenario: Wanted to do debt consolidation and some fix-ups around her home but having difficulty getting a loan elsewhere so came to us and we got it done.
Loan Size: $452,000 with 46% LTV
Days To Finish: 17

Location:  Mill Valley, Marin County
Why Came To Us: Needed fast financing.
Scenario: Had found the perfect new home and wanted to submit a stronger offer with very short closing date and no loan contingency, which we could offer.
Loan Size: $599,000 with 59% LTV
Days To Finish: 8

Location:  Santa Rosa, Sonoma County
Why Came To Us: Had great credit but due to property condition was unable to get loan approval elsewhere.
Scenario: Wanted to fix up rental property so could rent it for better return.
Loan Size: $365,000 with 35% LTV
Days To Finish: 13

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

Smart Home Gadgets to Increase Your Rental’s Appeal

November 13, 2019

Smart Home Gadgets To Increase Your Rental’s Appeal

If you are looking to upgrade your rental property without spending a fortune, here are some high-to-moderate tech improvements you can implement that can appeal to potential renters: 

  • Smart Door Locks-$200:  These allow the renter to remotely lock and unlock the doors with a mobile app allowing contractors to access the property without a key.  It also records who enters the property when. 
  • Smart Thermostats-$200:  The most important benefit of this improvement is the potential to save energy when no one is home.  They are also controllable by a smartphone. (example: Nest)
  • Smart Security System-$200:  These systems allow you to monitor what’s going on at home from anywhere.  You can also set up alerts to notify you if motion or sound is detected. (example:  Canary)
  • Smart Smoke & CO Detectors-$100:  False alarms can be silenced through your mobile app.  This feature is especially appreciated when you burn dinner, and your smoke alarm shrilly announces it to the entire neighborhood.  Low battery chirps can be controlled, too. 

 

These suggestions can also be implemented in your own home to simplify your life and add a sense of security.  

If you want more information on these gadgets see:   https://www.biggerpockets.com/blog/2016-07-07-landlords-invest-smart-home-tech7-gadgets

What Are Buyers Looking for in Homes Today?

November 5, 2019

What Are Buyers Looking For In Homes Today 1

Sellers are always curious about what features will make their home stand out to possible buyers.  Based on a recent survey conducted by realtor.com, Millennials are more interested in a big backyard than air conditioning.  Other findings included:

  • Updated kitchens with new appliances are more important than updated bathrooms.  Most people surveyed ranked updated kitchens in their top three features.
  • Some results were skewed one way or the other dependent on the age of the buyer.  For instance, Millennials, who are just starting families, prefer a larger yard, while the Silent Generation (72 years and older) prefer an updated kitchen.
  • Boomers were more interested in the community around the property, while the Silent Generation wanted to be close to health facilities.
  • Millennials also placed top schools high on their wish list.
  • All groups ranked quality grocery stores near the top of their list.

Millennials had several definite “don’t care about” items on their list:

  • They don’t want “fussy” landscapes.  With family time at a premium, they are looking for easy to maintain outdoor space.
  • This group of buyers enjoy cooking and eating in their kitchen and consider the formal dining room an unnecessary room.
  • Millennials want wide-open spaces inside their home, no more mapped out floor plans. They are looking for multifunctional rooms.
  • Millennials are moving away from carpeting in favor of bare floors with statement rugs.  They consider this type of floor covering pet-friendly and childproof.
  • Since Millennials are more attached to their digital world, a media room with a large TV and even surround sound is more appealing to them than “game rooms”.  

Keeping these surveys in mind before you list may help move your property  faster than your competition.  

What Happened With San Francisco and the Peninsula Real Estate?

October 28, 2019

What Happened With San Francisco And The Peninsula Real Estate

According to one of the recent reports on the real estate market in San Francisco, the average sale price in September for a single-family home was $2,091,655, an increase of $251,312 over August.  The average days on the market was 28. The inventory of properties for sale in San Francisco as of October 5, 2019 was 1174. This number included 317 single-family, 666 condos, and the balance multi-unit properties.  

There was a total of 354 properties sold in September and an inventory of 3 months remaining. This figure represents a strong Seller’s market, which has been the reality for many months.  Of the 317 homes sold in September, 25 homes sold below asking price, 6 homes sold for asking price, and 91 homes sold for over asking price.

On the Peninsula, the average days on the market ranged from 14-33 days, with San Carlos at 14 days and Menlo Park at 33 days.  In every city the September sales price exceeded the asking sales price for 1%-5%. Foster City, Belmont and Burlingame sold for 1% over asking and San Carlos sold for 5% over asking.  

The market continues to look strong despite the daily “gloom-and-doom” messages we receive regarding the economy’s future.  The indicators of a resilient real estate market should encourage sellers and buyers to pursue their investments with the confidence since at least this segment of the economy seems to be holding steady.

If you are looking for financing for your real estate investments, give Sun Pacific Mortgage a call at 707-523-2099 to discuss your situation.  For more than 3 decades we have given hope to many who could not quite qualify for conventional loans, providing alternative financing with our Hard Money loan programs. 

Do Home Loans Have To Be So Painful?

October 22, 2019

Do Home Loans Have To Be So Painful

If it’s the American Dream to own one’s own home, then why is it made so difficult for so many to achieve?  And does it have to be that difficult? 

One California broker has recently taken a good look and come up with a new way to open more doors.  It’s a key designed to work from both sides of the lock: the security of bank loans and the risks of private money.  

In the case of banks and other traditional lenders, requirements are so rigid it’s virtually impossible to get a home loan unless one has perfect credit or the time to fill out a football field of forms.  Financing can take from 2 to 5 months and offers can be rejected simply because sellers are aware of this fact.  

In the case of private lenders, hard money loans are based directly on real estate equity: “You got the property; you get the money!”. But rates can run as high as three times a conventional 30-year mortgage.  

Moreover, many private lenders issue too few mortgage loans to be closely watched by state and federal oversight.  Fraud is not uncommon. Borrowers must put integrity first in their selection of broker, while investors must absorb the risk of borrowers rejected by banks… which still leaves the big question: bank money security or hard money risk?

But what if you could find middle ground?  If a client falls just short of qualification for conventional or traditional financing (Fannie Mae, FHA, Portfolio lending, etc.), there is now a new hard money program on the market offering lower rates as low as 6 percent. It is called the Alt-A Hard Money Loan program and it is offered by Sun Pacific Mortgage & Real Estate of Santa Rosa, California.

Since opening its doors in 1988, Sun Pacific Mortgage & Real Estate has proven trustworthy to over 10,000 borrowers.  It is a trust that has seen the company rise from last-minute solution to first preferred choice for many California professionals seeking superior rates and reliability for their clients.  

No Need To Be Frightened… We Can Get You That Loan!

October 17, 2019

No Need To Be Frightened We Can Get You That Loan

Don’t be frightened if you or a client just missed out on qualifying for conventional financing.  We can help with our Hard Money loan programs: 

– Backed by over 3 decades of trust!

– Fastest funding within 48 hours!

– Unique Alt-A Hard Money Program with rates as low as *6%!

Loan of the Week

A past borrower reached out to us, in need of a very fast loan so he could get some capital for his business.  He wanted to pull cash out of an investment property he owned free & clear in Napa County. 

At a 54% loan to value, we were able to get him his desired loan amount of $500,000 in just 6 days! Needless to say, he was no longer frightened of losing out on his business transaction and was very happy. 

If you have any questions or scenarios you would like us to review, call 707-523-2099.  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%. 

Backed By More Than 30 Years Of Trust!

October 10, 2019

Northbay Biz Top 500

We are privileged to have repeat and referred borrowers, realtors, lenders and brokers who have been placing their trust in us for the past 30 years and more. 

It’s a trust we could never buy. It is a trust you can count on. 

If you or a client is just shy of qualifying for conventional financing, give us a call at 

707-523-2099…and let’s get you a Hard Money Alt-A loan, with rates as low as 6%*!

Some Of Our Recently Funded Hard Money Loans

Location:  Santa Rosa, Sonoma County
Why Came To Us: Property required some fix-ups. 
Scenario: Wanted to buy an investment property but due to property condition couldn’t qualify for traditional financing. 
Loan Size: $882,500 with 61% LTV
Days To Finish: 17

Location:  Mill Valley, Marin County
Why Came To Us: Needed fast financing. 
Scenario: Wanted a stronger offer with a very short closing date and no loan contingency, which we could offer. 
Loan Size: $599,000 with 59% LTV
Days To Finish: 8

Location:  Vallejo, Solano County
Why Came To Us: Borrower had “too many” owned properties with mortgages on them so unable to get financing elsewhere. 
Scenario:  Borrower had an investment property with considerable existing equity.  He did a refinance to pull out additional capital for other business purposes. 
Loan Size: $560,000 with 70% LTV
Days To Finish: 15

Location:  Covina, Los Angeles County
Why Came To Us: Turned down at last minute due to proof of income. 
Scenario: Wanted to consolidate high-rate credit card debts and do some home improvements but having difficulty getting financing due to being self-employed with difficult to prove income. 
Loan Size: $450,000 with 62% LTV
Days To Finish: 11

 

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

Posts navigation

1 … 18 19 20 21 22 23 24 25 26 27 28 … 30