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Hard Money – More Of The Short Story

June 12, 2019

Jpeg 2 What Is Hard Money…. Hard Money Loans Are Funded By Private Individuals. It Is Not Money From A Bank. The Loans Are Used To Handle A Problem In The Profile Of The Borrower. They Are Usually Short Term (1 To 5 Years) And Can Be Funded Quickly.  We Have Over 500 Individual Investors Who Invest Through Us.

WHAT IS HARD MONEY…. Hard money loans are funded by private individuals. It is not money from a bank. The loans are used to handle a problem in the profile of the Borrower. They are usually short term (1 to 5 years) and can be funded quickly.  We have over 500 individual Investors who invest through us.

There are just 2 main qualifications:

  1. Equity or decent down payment;
  2. Ability to repay the loan.

HARD MONEY LOAN PROGRAMS….

Here are our 4 most popular hard money loan programs – Purchases and Refinances:

  1. Non-Owner Occupied/Investment property
  2. Owner Occupied/Primary residence (short-term and long-term)
  3. Commercial
  4. Land

 

Why Hard Money – BRIDGE LOAN….   A borrower referred to us by a Mortgage Broker needed fast financing to buy a new family home.  He had a rental with good equity that he could use to borrower a large down payment. We did an $878,000 cash-out Hard Money loan on the rental and he quickly closed on the new family home.  He plans on refinancing to a Bank loan within 6 months. That family is very happy!

Hard Money = Bad Money? Not So!

June 11, 2019

Hard Money Bad Money Not So

Sure, there was a time when hard money lenders might have been viewed as predators, but these business owners have always been in the minority and have never lasted long.  Sun Pacific Mortgage has been in the hard money business for 31 years. You don’t survive and prosper without a loyal following of investors and clients won by demonstrating integrity and transparency.   

Hard money lenders are a solid source of funding for all real estate investments that fall short of conventional lending requirements.  Here are some of the facts experts might not share with you regarding hard money.

  • Hard Money Is a Legitimate Business  

Hard money lenders are actual businesspeople. They are no different than a bank, because essentially, they lend money.  Hard money lending is a legitimate business, not some underworld operation. With hard money, you eliminate much of the bureaucracy that is involved with a bank.  With hard money lenders, it’s just you, your deal, and the judgment of the lender to determine your ability to repay the loan.

  • Hard Money Just Means the Loan Is Backed by a Real Asset

The word “hard” just means “asset”.  When you borrow money from a hard money lender, he secures his interest with collateral, in our case, that is real estate.

  • Hard Money Equals Significant Profits for Investors

Without a doubt, hard money lenders do charge higher than average rates.  The rates at Sun Pacific Mortgage can run between 9-14% depending on several factors, including the property and the borrower’s situation.  Because investors are taking a risk with their money, they need to protect themselves, thus the higher rate.

  • Legitimate Businesses Use Hard Money Also

Just because a business may not be able to get a loan from a bank does not mean they are not “bank-worthy”.  The strict guidelines that govern banks and other lending institutions may be a stumbling block to small business owners.  Hard money can be obtained through programs available at Sun Pacific Mortgage allowing business purpose loans to be borrowed against real estate investments.

  • Hard Money Lenders Won’t Finance 100% of the Loan

When you have “skin in the game” lenders know their interests and yours are protected.  Neither of you want to lose your money. Most lenders like to see at least 70% LTV (Loan to Value) in any loan they make.

Bottom Line:  Hard Money Lenders have been around for many years, and the less than honest ones don’t last long.  You can be sure that Sun Pacific Mortgage, a family owned and operated hard money business with 31 years and thousands of happy clients and investors is one of the “good guys” that can be trusted to perform as promised.

 Top Reasons For Hard Money This Summer

June 6, 2019

June Promo 1 2 Call Today 707-523-2099 And Let Us Help You Or A Client Take Advantage Of Our Top Reasons To Use Hard Money This Summer!

1. It’s Fast!
We have done many refinances and purchase loans in less than a week.

2. Only TWO main qualifications for a Hard Money Loan!
A. Equity or a decent down payment.
B. An ability to repay the loan (source of income).

3. Credit Score not generally a factor!
Do you or a client have FICO issues? We can still help.

4. Financing programs available for multiple types of scenarios!
We have loan programs for:  Non-Owner/Investment Properties, Owner Occupied/Principal Residence, Commercial and Condominiums.

5. We finance larger loans!
We can fund up to $1.5 Million for a refinance or purchase.

 

 

Call Today 707-523-2099 and let us help you or a client take advantage of our top reasons to use Hard Money this summer!

 

We are excited to announce our hot summer Hard Money loan programs!

May 31, 2019

We Are Excited To Announce Our Hot Summer Hard Money Loan Programs!

Program Attributes:

– Fast Funding – Many closed in less than 5 days

– Loans from $150,000 to $1.5 Million

– All property conditions accepted

– Difficult-to-prove income and FICO scores not an issue

– Can finance investment properties and primary residences

– We finance purchases and refinances

 

Make us your first and favorite Hard Money Lender.
We have serviced all of California since 1988!

 

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

 

Recently Funded – Let’s Crush Summer Together!

May 23, 2019

Hulk Summer 1 We Can Crush Those Slow Loan Approvals And Overcome Loan Disapprovals With Our Hard Money Programs!

We can CRUSH those slow loan approvals and overcome loan disapprovals with our Hard Money programs!

Let us help you overcome all your summer alternative financing needs for real estate purchases and refinances. Read below to see some of our recently funded loans.  

And Call Us today at (707) 523-2099 to see how we can help you, a friend or a client!

 

Recently Funded

Single Family Houses, Condos, Principal Residences +

Multi-Family Units, Commercial & Office

$341,000 – Cazadero, Sonoma County
Non-Owner Refinance
55% Loan to value

$690,000 – Petaluma, Sonoma County
Non-Owner Purchase
53% Loan to value

$647,000 – Simi Valley, Ventura County
Owner Occupied Refinance Temp
73% Loan to value

$550,000 – Monte Rio, Sonoma County
Owner Occupied Temp
51% Loan to value

$668,000 – Santa Rosa, Sonoma County
Owner Occupied Purchase
77% Loan to value

$265,000 – Riverside, Riverside County
Non-Owner Refinance Business Purpose
65% Loan to value

Set Up Your Summertime Financing – Loan of the Week

May 16, 2019

1 “ Did A Fantastic Job. They Were Honest, Straightforward, To The Point, Loyal To The Borrowers, And Got Me A 24-Hour Turnaround From Docs To Having A Full Package! They Were Very Professional And Loyal To Their Word.  I Would Recommend Anyone To Go There For Business!” C.m.

“[Sun Pacific] did a fantastic job. They were honest, straightforward, to the point, loyal to the borrowers, and got me a 24-hour turnaround from docs to having a full package! They were very professional and loyal to their word.  I would recommend anyone to go there for business!” C.M.

Santa Rosa Rush Purchase

A local Mortgage Broker called us about a client of his who’s loan process was not getting approved quick enough – his Buyer was running out of time.

They were looking for a rush interim loan. We quickly got onto it!

The Borrower wanted to purchase a $562,000 investment property in Santa Rosa and was coming in with about 35% of his own money.  Within 24 hours we had loan approval.  In just 10 more days we had a very happy Borrower and very appreciative Broker, as money was in hand!

If you need any help with fast financing this summer, we’ve got your back!  Call Today at 707-523-2099 so we can help with our Hard Money programs.

Hard Money – The Shortest Version

May 9, 2019

March Promo 2 Only Two Main Qualifications For Our Loans:

Only TWO main qualifications for our loans:

  1. Equity or decent down payment.
  2. Ability to repay the loan.

 

Funding Info:

  • FAST Funding ability (many done in under a week).
  • Loans up to $2 Million
  • FICO not generally a factor (bad or poor credit – we can still help!)
  • Up to 75% loan to value, case by case basis.
  • Non-Owner, Investor, Commercial, Owner Occupied and Condominium financing.
  • We have been in business 30 years and have still not run out of money!

 

Recently Funded Hard Money Bridge Loan:

A Loan Originator in San Jose reached out to us, in hopes we could help finance a Bridge loan for one of his clients.  This particular Home Buyer was self-employed with difficult to prove income and he was looking to move his family to another city.  He did not however want to sell their current house without buying a new home. He also wanted a fast loan that would help strengthen his purchase offer.

Within 17 days we were able to provide the $1.4million loan size needed to buy his new family home in Sunnyvale, Santa Clara County!

Give us a call today at (707) 523-2099 with any questions or scenarios. We look forward to helping!

Hard Money Makes Loans Less Confusing!

May 2, 2019

Hulkconfused No Need To Be Confused By How To Get Your Loan Approved Fast. With Hard Money It’s Simple!

No need to be confused by how to get your loan approved FAST. With Hard Money it’s simple!

– We can fund fast, less than 1 week if needed!

– Often considered “all cash”, makes them stronger offers.

– FICO scores are not a determining factor.

– It offers flexibility and speed that is needed in a swiftly moving market.

See below for various scenarios funded through our office. We are here to help you, a client or someone you know get that loan approved and financed!

Call Us Today at 707-523-2099.

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

 

Funded Loans By Us

Includes: Single Family Houses, Condos, Principal Residences, Multi-Family Units, Commercial & Office

$450,000 – Santa Rosa, Sonoma County
Commercial Purchase
40% Loan to value
10 Days to fund!

$468,000 – Angwin, Napa County
Owner Occupied Bridge Loan
80% Loan to value
11 Days to fund!

$1,500,000 – San Luis Obispo (San Luis Obispo County)
Non-Owner Purchase
67% Loan to value
19 Days to fund!

$749,000 – Corona, Riverside County
Non-Owner Purchase
70% Loan to value
21 Days to fund!

$1,100,000 – Daly City, San Mateo County
Commercial Purchase
56% Loan to value
14 Days to fund!

$468,000 – Santa Rosa, Sonoma County
Owner Occupied Temp Purchase
80% Loan to value
16 Days to fund!

Increase Your Wealth While Paying Your Mortgage

April 30, 2019

Increase Your Wealth While Paying Your Mortgage

Home ownership is a unique opportunity to use housing costs to build wealth over time.  

The NAR (National Association of Realtors) recently published a report which broke down the equity gained from appreciation and principal payments.  According to this report, homeowners who purchased their home five years ago realized an 80% gain in appreciation alone. In California that amounts to a significant growth in one’s financial well-being.

Your home is one of the only investments you can live in as you pay it off.  Recently, we have seen significant growth in equity wealth. Even though this phenomenon may be slowing somewhat, especially in California it remains one of the easiest ways to accumulate and gain financial security.  

In 2006, we saw that people unwisely used their homes as ATMs.  They purchased new cars, boats, and lavish vacations. We saw how that ended, and it appears that we have learned our lesson.  Today cashed-out equity is being used for less frivolous reasons, like consolidating debt or for college tuition. Most of us are counting on this wealth to supplement our retirement income.

If you have been hesitant about refinancing your home or getting into real estate investments because of qualifying concerns, there is hope for you!  Hard money loans may just be the answer you are seeking. Sun Pacific Mortgage offers several programs which can benefit your investment issues and allow you to start on your journey toward wealth and financial stability.  Call us at 707-523-2099 to discuss your first steps.

Reeling In Your Jumbo Loan Approval!

April 25, 2019

Bigfish “It Was A Pleasure To Be Able To Get This Loan At Sun Pacific Mortgage. This Was The Easiest Loan Process I Have Ever Experienced In My Life!! I Will Keep On Our List For Any Future Loans Needs For Sure!!!  My Loan Process Was Quick, Easy And Very Professional.”  Best, L.q.

“It was a pleasure to be able to get this loan at Sun Pacific Mortgage. This was the easiest loan process I have ever experienced in my life!! I will keep [them] on our list for any future loans needs for sure!!!  My loan process was quick, easy and very professional.”  Best, L.Q.

A Realtor reached out to us to get some fast lending help for her Home Buyer.  They were in Escrow and her client just found out that his loan was declined elsewhere. They had to move quickly or else they would lose out on his home purchase!

This is where we came in.  Needed was a jumbo loan of $910,000 for an owner-occupied Temporary/Bridge loan in Santa Clara County.  We got right to it and within 2 days had loan approval!

Let us reel in your loan approval.  Call Today 707-523-2099 and we will let you know how we can help!

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

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