Investment Property/Non-Owner-Occupied Loans

October 23, 2018 Broker

Investment Property Non Owner Occupied Loans

Looking for ways to protect their financial security, many homeowners are investing their money in second homes, or are refinancing existing loans on rental property to upgrade them. Whether they are looking for another source of income, or they need to improve their existing rental property, they recognize that real estate has proven to be a profitable and long-term financial shelter.

But what if you do not qualify for a conventional loan from a bank or other lending institution? All is not lost…that is where a Hard Money Home Loan can provide the answer.

What do you need for a hard money loan from Sun Pacific Mortgage? There are two main qualifications for a rental property loan:

Equity or a decent down payment
An ability to repay the loan

What are some other characteristics of an investment property loan with us?

California real estate only
We go up to $2 million+ loan size
FICO score is not a factor
Up to 70% LTV (loan-to-value)
Fast funding

In the 30 years we have been in business, we have financed multitudes of investment property loans for a variety of issues: Needed fast funding, discharged bankruptcies, more than one foreclosure, and less than pristine property. We make it our business to offer a second chance to earnest and honest borrowers.

Start on your journey to financial independence by investigating the possibility of a hard money loan on rental property with Sun Pacific Mortgage. We welcome all questions and scenarios to help inform you of “The Possible”.

Call us at 707-523-2099!

Why Invest in Non-Owner-Occupied Home Loans

October 16, 2018 Broker

Why Invest In Non Owner Occupied Home Loans

We have all heard the horror stories related to Non-Owner-Occupied investment properties, and have thought to ourselves, “Is the headache really worth it?” Some would say the financial gains outweigh the grief. But what if you could have all the financial benefits and virtually none of the problems? Sound too good to be true?

This is one time when that question does not need to be asked, because Trust Deed investments offer a lucrative option allowing you to invest in property with little to no blood, sweat or tears on your part.

At Sun Pacific Mortgage we do all the initial behind-the-scenes work for you, and a servicing company can handle all the work required after the signing, e.g. collecting payments and paying taxes. This becomes the best of all worlds: you get a check each month, and you don’t get those annoying middle-of-the night phone calls.

With interest rates on non-owner-occupied hard money home loans ranging from 10%-13%, you can grow your investment at a much faster rate than almost any other speculative venture.

If this sounds like an opportunity to build your retirement portfolio, give us a call at 707-523-2099 to discuss how Sun Pacific Mortgage can help you get started.

Why Should I Sell My Home This Fall?

October 9, 2018 Broker

Autumn Home For Sale

There are probably a myriad of reasons to sell this Fall, but let’s look at just a few:

For starters, Buyer demand is still strong. While the mad, competitive scene has waned (thankfully!), last month listings averaged only 29 days on the market according to NAR. Although the housing inventory is still less than 6 months (which is considered “normal”), it appears that we are slowly moving toward normalcy in the real estate market. This means we will no longer be in a buyers’ market (like 2007-Feb.2012) or a sellers’ market (like Mar.2012-present). The experts see the housing market returning to a healthier state for seller and buyer by the end of next year.

What about pricing? According to Core Logic, housing prices are expected to rise 5.1% next year. As a result, if you wait, you will end up paying more for a down payment, and your mortgage payments may likely increase. Because of the persistent inventory shortage, prices should continue to rise to above-normal levels for the next year. On the bright side, both existing and new construction permits have increased over the past two months, and these factors will help make a more balanced market in the future.

If you do not qualify for a conventional loan this Fall, Sun Pacific Mortgage is here with a lending program for you. Whether you need a bridge loan to help with a new purchase before your present home sells, or you just want a hard money 1st, we will find a satisfactory solution for you. Give us a call at 707-523-2099 and see what we can do for you!

How To Significantly Increase The Value of Your Rental Property

September 27, 2018 Broker

Increase Rental Property Value

One of the best ways to insure the value of your rental property and increase your cash flow is to maintain and manage it well. As a landlord you should be vigilant that your property does not depreciate because of your inattentiveness. Markets may fluctuate, and while this is something you don’t have particular control over, you can ensure that your property does not lose any value because of neglect.

Here are some time-proven and relatively low-cost improvements that should increase the rental value and rentability.:

Landscaping Refresh:

If the prospective renter sees a tidy, colorful front yard, it helps sets the stage for a more positive reaction to the interior. A new mailbox or a freshly painted one can be a big plus.

Thorough Cleaning:

If painting the entire house is financially prohibitive, a good scrubbing inside and out will go a long way to say “this landlord cares”. In particular, making sure the front door is welcoming and fresh. A newly painted door gives the impression that you have renovated the house for the next tenant.

Clean the Floors:

Cleaning the rugs, either by yourself or professionally, makes the house smell clean and will have an impact on the overall appearance of the home. Any repairs required of other types of floors, regardless of cost, shouldn’t be ignored.

Appliance Upgrades:

One of the most important aspects considered by a prospective renter is the kitchen, and more specifically, the appliances. If a good cleaning doesn’t bring them up to par, replace them! It will get you a better renter and a better price. The other room where you don’t want to spare any elbow grease is the bathroom. Tenants appreciate an up-dated, clean and bright bath.

Now that we have examined the extensive “To Do List” for attracting responsible renters, let’s take a look at how you will finance these improvements.

The first avenue would be to look into a conventional loan or home equity loan, but if, for whatever reasons, you do not qualify for a conventional loan, consider a Hard Money loan from Sun Pacific Mortgage.

We have been in the business of hard money refinancing and lending for investment property owners for over 30 years. Please call us at 707-523-2099 with any of your questions or scenarios.

Why Should I Buy Today Instead of Waiting?

August 22, 2018 Broker

Image1 Today Most Industry Leaders Would Agree That Waiting For Home Prices To Drop Significantly Before Buying Property Is Very Unwise. The Latest Reports Anticipate At Least A 5.2% Increase Over Last Year’s 7% Increase In Property Values.

Today most industry leaders would agree that waiting for home prices to drop significantly before buying property is very unwise. The latest reports anticipate at least a 5.2% increase over last year’s 7% increase in property values.

Besides anticipating a jump in market pricing, another reason to make your move now is the inevitable interest rate hike. The 30-year mortgage has increased by half a percentage point already in 2018. Most institutions involved in lending are projecting the rate will have increased by a full point by this time next year.

It is good to remember that whether you own or rent, you are paying a mortgage, your own or your landlord’s. The obvious advantage of paying your own mortgage is that you do not need to concern yourself with unwanted surprises, like rent increases and decisions made by your landlord that jeopardize your living arrangements.

Another reason to consider home ownership is the “forced savings” it affords. The equity your home accrues throughout the years will allow you to tap into substantial funds later in life.

If the right thing for you and your family is to purchase a home this year, consider buying sooner rather than later. And if you think you can’t qualify for a loan, consider the option of a hard money loan with Sun Pacific Mortgage, where your credit score, condition of property and difficulty to prove income is not our first concern. Call us today! (707) 523-2099

Bullseye – With Hard Money

April 26, 2018 Broker

Succeed With Hard Money Our Target For Every Loan Is To Hit The Bullseye! Quickly Fund; Provide Multiple Options; Make An Impossible Deal Possible; Fund Jumbo Size Loans.

Our target for every loan is to hit the bullseye! Quickly Fund; Provide Multiple Options; Make an impossible deal possible; Fund jumbo size loans.

“You are easy to work with and you get the job done. I know early on IF you can do the deal or not and then not much changes to Closing. Together I KNOW that we are doing clients a great service from their thank you’s”. Broker – JF

See below for some recently funded loans. And Call Us today at 707-523-2099 to see how we can help you, a friend or a client with similar scenarios!

Recently Funded By Us

Single Family Houses, Condos, Principal Residences

$540,000 – Petaluma, Sonoma County
Non-Owner Purchase
59% Loan to value
17 days to Fund!

$462,000 – San Leandro, Alameda County
Owner Occupied Refinance Business Purpose
69% Loan to value
9 Days to Fund!

$365,000 – Santa Rosa, Sonoma County
Non-Owner Purchase
65% Loan to value
11 Days to Fund!

Multi-Family Units, Commercial, Office & Land

$780,000 – Pomona, San Bernardino County
Non-Owner Refinance
60% Loan to value
22 Days to Fund!

$1,430,000 – Sloughhouse, Sacramento
Non-Owner Refinance Business Purpose
53% Loan to value
19 Days to Fund!

$1,100,000 – Thornton, San Joaquin County
Commercial Purchase
50% Loan to value
26 Days to Fund!

Buying A Home Is Still Cheaper Than Renting

April 24, 2018 Broker

Image1 Many California Families And Individuals Continue To Rent, Despite The Many Great Financial Benefits To Owning A Home.

Many California families and individuals continue to rent, despite the many great financial benefits to owning a home.

Home Ownership continues to be part of the American Dream. Realtor.com recently reported: “Buying remains the more attractive option in the long term – that remains the American dream and it’s true in many markets where renting has become really the shortsighted option…as people get more savings in their pockets, buying becomes the better option.”

Here’s some facts that owning is financially better than renting:

Homeownership is a form of forced savings.
It provides tax savings.
It allows you to lock in your monthly house cost.
No other investment lets you live inside of it.
Studies show a homeowner’s net worth is 44x greater than a renter’s.
Home owners can build their own wealth and equity, instead of paying Landlord’s mortgages & increasing their equity.

Some argue how renting eliminates costs of home repairs and taxes. However, every potential renter needs to realize that their Landlord includes these expected expenses – along with a profit margin – into the rent payment they’ve set!

So, moral of the story is: Since owning a home is logically the better financial standpoint, connect up to your local, licensed Lender and find out what you need to qualify to become a home owner!

And if you want to make a better home purchase offer, get a fast home loan or are self employed with difficult to prove income – thus having difficulty qualifying for a conventional home loan – then we at Sun Pacific Mortgage & Real Estate are more than willing to help with our Private Money home loans.

Call us at 707-523-2099.

Reference: Keeping Current Matters blog: NOT Owning Your Home Can Cost You A Lot Of Money! https://www.keepingcurrentmatters.com/2018/04/02/not-owning-your-home-can-cost-you-a-lot-of-money/

Super-Fast Loan Done For Lender

September 20, 2017 Broker

Property Refinance in Contra Costa, California

One of my Lender friends called with a rush transaction he needed help on:

He couldn’t get his client approved for a $670k first mortgage because of her difficult-to-prove income. She was in escrow on a new purchase of a multi-family property and needed a loan fast.

In just under 2 weeks, we had this loan approved at 10% interest, with a successful purchase and very happy Lender client. Now that’s super-fast financing!

Hard Money loans are like the Olympians of financing. They have speed and agility.

We work with many loan Brokers, Lenders and Realtors. They and their clients can benefit from hard money, which provides a very necessary need in real estate buying these days.

Call us at 707-523-2099 with your scenarios or questions. Here to help!

Who Is Today’s Real Estate Investor?

September 14, 2017 Broker

Love Re Investing Who Do You Envision When You Think Of The Stereotypical Real Estate Investor? The Reality Is Far From The Hollywood Image Of The Businessman In An Expensive Suit. It Turns Out That The “Average” Real Estate Investor Is More Like You Or Your Next-Door Neighbor.

Who do you envision when you think of the stereotypical real estate investor? The reality is far from the Hollywood image of the businessman in an expensive suit. It turns out that the “average” real estate investor is more like you or your next-door neighbor.

Bigger Pockets, a real estate investment social network, had some insightful observations about today’s investors. The following are some of the more common misconceptions associated with real estate investors along with a reality check:

In reality, real estate investors are split 75/25% with 75% being male and 25% female.
Real estate investors are wealth. Many investors are not racking up big annual incomes, but have studiously saved and used creative financing options. Their household incomes are much like yours.
A majority of real estate investors are 50+. Most investors begin on their path to building wealth through real estate in their late 30’s and as a supplement to their 401K retirement plan.
A lot of real estate investors own apartment buildings or land. Other investors own single family homes, because the upfront costs are less and these present fewer risks.

Many of these realities are our experience at Sun Pacific Mortgage, where we have been in the hard money lending business since 1988. We partner with many new and experienced investors, who enjoy high returns, from 9-13% on their investments. If you are interested in learning more about real estate investing, please call us at 707-523-2099. You can also consult our website for further information on how to start earning with us.

We Fund Large Loans!

August 10, 2017 Broker

1 1 Here At Sun Pacific Mortgage, We Offer Hard Money Financing For Jumbo Size Loans And Bigger, With Qualifications That Are More Forgiving Than Traditional And Conventional Financing.

Here at Sun Pacific Mortgage, we offer Hard Money financing for jumbo size loans and bigger, with qualifications that are more forgiving than traditional and conventional financing.

Hard Money loans are the answer for someone with irregular income, tarnished credit, needs fast cash or property not qualifying for regular financing. These are not issues with us.

We have two main qualifications:

At least 25% down payment or good existing equity and
An ability to repay the loan.

Having been in business for almost 30 years now, we have seen it all, and we can usually make the seemingly impossible, possible. Call Us today at 707-523-2099 and let get you’re your large loan funded!

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Trusted Private Money Lenders Since 1988!

Call Today! (707) 523-2099