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Can We Really Be Of Service To You Or Your Clients?

October 8, 2020

What Is Hard Money New Pic
(Click here or the image above to watch video about how you can get more transactions approved & done!)

What Is Our Alternative Financing Really?

After 32 years, despite market changes and recent covid regulations, our two main lending qualifications have not changed and are still more forgiving than conventional or bank financing. These two basic qualifications are:

#1. Decent existing real estate equity or at least a 30% down payment if a purchase and

#2. An ability to repay the loan.

We have worked with many other Brokers and Realtors, helping to close more transactions and help make their clients happy! We can cover up to 65-75% of the value of the property. These loans are based largely on equity from real estate assets.

Basically considered all cash, such loans are extra strong and can be used to purchase or refinance fixer properties, bad score borrowers, irregular or difficult to prove income borrowers, large cash-out borrower, someone needing fast cash, short term Bridge loans, etc.

Owners still need to refinance their homes to make home improvements, buy a 2nd home or investment property. And Buyers still want to buy even with tarnished profiles. Our unique financing is the only option out there if your client is unable to qualify for a loan from you, their favorite bank, mortgage broker or local Lender.

Many people have cards with rates that are 15% to 32% and Alternative Financing  rates average 9% to 12% with interest-only payments. This will likely cost a bit more than a 30-year fixed rate loan but it can get them what they want, despite having been turned down elsewhere for a refinance or home loan.

Also, if your Buyer or Borrower just misses out on qualifying for conventional financing, they could qualify for our Alt-A Special Program which offers rates as low as 6.5%!   

We invite you to look through our programs for exact details on how we can get you and/or your client fast loan approval!  Or call us at 707-523-2099. Having worked with many types of loan scenarios for over 3 decades, we are quite experienced, honest and FAST.

Tired of Covid Stopping Loan Approval? See Our Loan of the Week!

October 1, 2020

30 Years In Business*Click above to play video and find out more*

NO COVID Here, Just Fast Loan Approvals.

Avoid Covid-19 regulations with our alternative financing programs and expect fast loan approvals!

Call us today at 707-523-2099 or email us by clicking below.  Let us help you get that mortgage financed!

Loan of the Week

A Broker from Santa Clara reached out to us with a client who needed some fast funding.  He had to resolve some critical renovation issues with one of his Mountainview properties, relating to permitting fees and road work that needed to be done quickly.

With a loan to value of 53%, the requested mortgage of $750,00 was easy for us.

This borrower had qualified for a conventional loan but needed his funds much faster.  This is where we were able to quickly jump in and help with our unique alternative financing programs.  Because of us, in just 9 days, this Borrower was able to secure all the necessary permits and begin work on his property!

If you need a fast close or are being turned down by other conventional lending institutions, give us a call at Sun Pacific Mortgage 707-523-2099. Trusted by over 10,000 borrowers in our 32+ years as a family owned & operated alternative financing company, we’re pretty expert on knowing how to help get loan approval.

Just Approvals, No Regs – Recently Funded!

September 24, 2020

Top 500 And No Covid(What Is Hard Money Really? Click above to play video and find out!)

No Regs Here. Just Loan Approvals!

No covid regulations here – just fast loan approvals.  Don’t waste time with other mortgage lenders turning you away, we can help get you the financing you want!

For over 3 decades our family company has helped thousands of individuals with our Hard Money programs.

Call us at 707-523-2099 with any questions so we can quickly get back to you with what we can do for you!  We want to help you, as we did for the borrowers below.

Recently Approved & Funded

Finance Program:  Primary Residence Purchase
Loan Size:  $460,000
City: Mountain View, Santa Clara County
Days to Finish:  25
Why Came To Us:  Wanted a fast loan to make stronger offer and close quicker.

Loan Program:  Investment Property Refinance
Loan Size: $353,500
City:  Pacoima, LA County
Days to Finish: 22
Why Came To Us:  Wanted to renovate property as condition poor.

Loan Program:  Primary Residence Refinance
Loan Size: $560,000
City:  Truckee, Nevada County
Days to Finish: 26
Why Came To Us:  Wanted to consolidate debt and repair credit.

Finance Program:  Primary Residence Refinance
Loan Size:  $539,000
City:  Oakland, Alameda County
Days to Close:  22
Why Came To Us:  Difficult to prove income as self-employed.

Loan of the Week – Different With Experts

September 17, 2020

New Northbay Biz Play

(What Is Hard Money Really? Click above to play video and find out!)

Let The Experts Help Get You Loan Approval

Are you frustrated by not getting loan approval for a client?

Let us help!  We do not have any covid regulations and in fact, have only 2 main qualifications:

#1. If buying a property need 25-35% down payment of the purchase price. For any refinance, need good equity.

#2. An ability to repay the loan (source of income).

Loan of the Week

In business for over 32 years now, our Hard Money programs still have less restrictions and faster funding times than traditional lenders!  Give us a chance to help you and your clients, as we did for this Realtor and her Buyer:

A Realtor reached out to us with a client from Santa Clara, needing help with a refinance of $560,000.  Unfortunately, when already in Escrow, the lender who earlier gave loan approval backed out.   This particular client was looking to refinance his current home loan and take advantage of the 70% equity in his house.  He wanted to pull the needed cash out and buy an investment property to turn into a rental.

With considerably less restrictions and faster closing times, we made a Realtor and her Buyer very happy with the money in hand, in less than 12 days!

If you, a client or even a friend need fast financing or are looking to use their existing equity to make debt consolidations, upgrade a home or purchase additional property, give us a call at 707-523-2099. We’ll quickly reply with how we can help.

No Darn Restrictions Here – Recently Helped Borrowers

September 10, 2020

1

No Darn Covid Regs With Our Loans

Tired of not getting quick loan approval?

Let us help you with our Hard Money loan programs, just as we were able to help those below!

Our alternative financing programs do not have any additional regulations that traditional lending institutions have.  We just require real estate equity and an ability to repay the loan.

Call today at 707-523-2099 with your questions or scenarios.  We will quickly let you know how we can help you or a friend!

Recently Approved & Funded

Loan Program:  Non-Owner Occupied Refinance
Loan Size: $1,0250,000
City:  Santa Rosa, Sonoma County
Days to Finish: 22
Why Came To Us:   Needed funds to finish construction of investment property.

Loan Program:  Primary Residence Temporary Refinance
Loan Size: $282,000
City:  South Lake Tahoe, El Dorado County
Days to Finish: 24
Why Came To Us:  Needed extra funds to consolidate debt and repair credit.

Finance Program:  Primary Residence Refinance
Loan Size:  $419,000
City:  Windsor, Sonoma County
Days to Close:  21
Why Came To Us:  Self employed with difficult to prove income.

Finance Program:  Investment Property Refinance
Loan Size:  $750,000
City: Los Angeles, Los Angeles County
Days to Finish:  9
Why Came To Us:  Wanted fast capital for business investment.

 

Loan of the Week – Get Approved When Others Say No!

September 3, 2020

Loan Of The Week – Get Approved When Others Say No!

Loan Approval DESPITE Others Turning You Down! 

Are you or your client fed up because the home loan approval process is taking way too long?  Or, that needed refinance is being turned down by an Underwriter/Another lending institution?

Going into our 3rd decade as a family business, we can rapidly provide loan approval with our Hard Money programs!

Despite low FICO, self-employed with difficult to prove income or some other reason you or a client is being turned down, we can still help!  Being in business over 32 years has allowed us help thousands of individual borrowers. – just as we did for the below homeowners:

Loan of the Week

A couple in Alameda County was facing foreclosure and sought our help to save their home.  The wife wasn’t working but the husband was self-employed with good, consistent income.  Unfortunately, they were having difficulty getting their current home loan refinanced despite visiting multiple other lenders.

Despite these circumstances that others were turning them away for, we were able to create a happy ending for them with one of our short-term Hard Money programs.  In just under 3 weeks, the refinance was complete for $682,000 with an LTV of 63% and the homeowners were happily underway repairing their credit!

It always makes us smile when we can help save a client’s home, something we have done hundreds of times over the past 32 years that we have been business.  Call us at 707-523-2099 with any questions or scenarios.  We’d be happy to help you or a client today too.

Loan Approval With Less Regulations – Recently Funded

August 27, 2020

3 Generations Strong With Braden

Get Loan Approval Even If Self-Employed.

Are you or your clients having problems getting loan approval with Underwriters at other lending institutions?   Are there mortgage approval slows due to issues of being self-employed, difficult-to-prove income, credit not good enough or turned down for some other reason?

Let us help with our Hard Money loan programs!  We do not have these regulations.

Our Hard Money loan programs have the same main 2 qualifications for over 30 years:

#1. Good equity and #2. Ability to repay (source of income).
Call today 707-523-2099 with any questions or scenarios.  We can quickly let you know what we can do for you or a client!

Recently Approved & Funded

Loan Program:  Investment Property Refinance
Loan Size:  $1,511,000
Days to Finish:  11
Location:   San Francisco, San Francisco County
Why Came To Us:  To pay off current loan which was coming due

Loan Program:  Investment Property Refinance
Loan Size:  $645,000
Days to Finish:  50
Location:  Torrance, Los Angeles County
Why Came To Us:  Was self-employed and having difficulty elsewhere

Loan Program:  Primary Residence Refinance
Loan Size:  $560,000
Days to Finish:  24
Location:  San Leandro, Alameda County
Why Came To Us: Debt Consolidation to repair credit

Loan Program:  Primary Residence Refinance
Loan Size:  $617,500
Days to Finish:  20
Location:  Simi Valley, Ventura County
Why Came To Us:  Pay off reverse mortgage inherited from parents

Not Even the Pandemic Can Keep Home Prices Down

August 25, 2020

Not Even The Pandemic Can Keep Home Prices Down

Not just the California real estate market but majority of the US market has surprised even the most knowledgeable experts in the field.  Despite the crippling pandemic, unemployment crisis, a recession, and the looming presidential election, the residential real estate market is staging a surprising rebound.

According to realtor.com, the median home price increased by 6.2% over last year.  Homes are selling faster than they did in 2019 and bidding wars are back!

To quote Ali Wolf, chief economist of Meyers Research, a national real estate consultancy:

“The housing recovery has been nothing less than remarkable.  The expectation was that housing would be crushed.  It was – for about two months-then it came roaring back.  People are really quick today to compare today with the Great Recession, but we’re dealing with a different animal.”

The reason for this resurgence in home buying may well be because we are beginning to feel more confident about the idea of buying or selling a home.  In fact, according to a survey conducted by Fannie Mae in June nearly 61% out of 1000 consumers said it was a good time to buy a home.

What’s driving this surprisingly hot market?  One big reason is the severe shortage of homes for sale, making it great for sellers, not so much for buyers.  This inequity leads to higher prices even during a recession and the worst public health crisis we have ever experienced.  Add to that the historically low mortgage rates and you have another reason for the run on housing.  In both Northern and Southern California the shortage started prior to the firestorms which occurred in 2017, 2018 & 2019.

But, why the rush to buy now?  After spending several months at home, these potential buyers are asking, “If I’m going to spend the next 6-12 months working out of my house, I need a bigger house.”

Surprisingly, even with the worst unemployment since the Great Depression, many working Americans have held on to their jobs.  These tend to be the higher-paid workers with the means to buy homes.  Staying home more has meant more savings to boost their down payment reserves.

If you are in the “turned down elsewhere?” category for a conventional loan, but don’t want to be left out of this opportunity to move up or get into the market for the first time, give Sun Pacific Mortgage a call at 707-523-2099.  We offer alternative financing, also known as Hard or Private Money.  It has proven helpful to hundreds of our clients.

Loan of the Week – Trustworthy Approvals

August 20, 2020

Trusted Plain1

Get Loan Approval Despite Being Turned Down!

If you, a client or friend are having issues getting home loan approval OR you just want fast financing, then let us help with our Hard Money loan programs!

We have been in business over 32 years, providing help to thousands of borrowers and assisting hundreds of Realtors & Mortgage Brokers with their clients’ alternative financing needs.

Let us help you now too, as we were able to assist the borrowers below:

Loan of the Week

We recently received a call from a referring Broker, asking if we could perform one of our “miracles” for his clients.  This couple was trying to purchase a new home, but the husband was self-employed and having difficulty getting final loan approval.  The couple had less than 10 days to perform or the home sellers could pull out of contract; They needed to come up with the necessary down payment immediately.

One of our specialties here at Sun Pacific Mortgage is fast turnarounds.  In this case, the Bridge Loan of $431,000 with an LTV of 64% was approved within 36 hours and funded in 8 days!  The relieved Broker and very happy couple were able to complete the purchase of their new home in Sonoma County.

If you find yourself or know someone in need of fast financing or having difficulty elsewhere getting a mortgage, give us a call at 707-523-2099.  We can quickly let you know what we can do to help.

California Homeowners Are in the Driver’s Seat

August 18, 2020

California Homeowners Are In The Drivers Seat

If you have been considering a move up or buy your first-time home, consider this the optimal time to make the investment!  While today’s homeowners have been staying in their homes longer, equity has been building, and when equity grows, selling a house becomes increasingly desirable.  This equity can now be applied forward to the purchase of a new home.

According to Q2 2020 U.S. Home Sales Report:

“The latest figure, based on median purchaser and resale prices, marked yet another peak level of raw profits in the United States since the housing market began recovering from the Great Recession in 2012.”

With the “work-from-home” opportunities presented since the beginning of the pandemic, you might have been taking a looser look at how well your present home fulfills your new needs going forward.  Additionally, those with kids who are faced with distance learning for this 2020-2021 school year, have to figure out extra space for undistracted school work to be done.

Many California homeowners are considering accessing the equity in their homes to make a move to a home that better accommodates their new circumstances.

This need for more appropriate living conditions has spawned a group of buyers who are not just talking about looking for a new home, they are actively engaged in the buying process.  The Covid-19 crisis and the record low mortgage rates have converted some prospective buyers into active buyers.  Millennials are driving this market rush according to Keeping Current Matters:

“Of Millennials planning a home purchase in the next year, 57% are actively searching for a home.”

Especially here in the North Bay, we have seen a growing number of interested buyers looking for a simpler, quieter way of life which offers more   more affordable housing than the South Bay or San Francisco.

Bottom Line:  If you have considered taking advantage of your built-up equity and wish to improve your present living arrangements now that you are spending more time at home, this is the time to sell.

If you need a fast close or are just shy of qualifying for a conventional loan, give Sun Pacific Mortgage a call at 707-523-2099.  We have helped thousands of buyers just like you for over 32 years.

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