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Things You Might Overlook In Your Home Search

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You might think you have found your dream home, only to discover after you move in, that you missed some important “must-haves”.  I was reading a Realtor.com article recently and it was covering just this subject.  

Some of these critical features, buyers might not consider when house hunting.  They may not be deal breakers for some, but they are factors to consider when looking to buy a home:

  1. What is the neighborhood like at night?  Besides the safety issues, the neighborhood can change substantially at night when everyone is home from work and school.  
  2. The daily commute and traffic problems should be considered at various times of the day and evening.  You should know what it will take to get home because  you don’t want to arrive at your “dream home” after a “nightmare ride”.
  3. Read the CC&Rs carefully if you are buying into a homeowner’s association.  Many an unsuspecting homeowner has been surprised to find that they cannot park on the street in front of their house, for example.
  4. Some regulations might exist whereby you cannot rent out any part of your home for a short-term as on Airbnb, but you were counting on the extra income.
  5. The ratio of bedrooms to bathrooms is critical.  Most homeowners are comfortable with a Master Bath and at least one other bathroom.  A bathroom on every floor works best.
  6. If your property is on a septic system, has a well, or solar panels, a specialty inspection should be done to assure the integrity of these units.  These inspections are not part of the general home inspection.
  7. Don’t get “wowed” by the added amenities which can always be added after the sale and forget to focus on the things that cannot be changed or improved, like location and lot configuration.
  8. Keep in mind the resale value of your property.  Negative factors might not be important to you, but consider their impact on the rest of the buying public when you get ready to sell.
  9. Consider your future family needs for the home.  Will you need more space?  Will you need a home office?  Will you need to be near a good school and/or park?

After taking into account all of these considerations, align yourself with a local and reputable Realtor and Lender, who can make your dream come true.  

If you are looking to make a stronger offer, get a fast loan or have less than stellar credit, make that Lender Sun Pacific Mortgage!  We have been a Hard Money Lender in Santa Rosa for 29 years, and have helped hundreds of buyers who might otherwise have been kept out of the real estate market due to the stringent  requirements of traditional lenders.  Check out our Sonoma County based location website here: http://www.sonomacountyhardmoneyloans.com/

Please call us at 707-523-2099 and begin your journey toward homeownership.

Superheroes Fund Not-Normal Loans

 

superhero men

Our “not-normal loans” have just 2 main qualifications:

  • Decent existing equity or at least 25% down payment.
  • An ability to repay the loan (source of income).

Known as Hard Money, these loans might enable you to bring that superhero offer to a Seller or to be the superhero Agent for your client. Financing available for owner occupied, non-owner, some commercial and land loans.

We stand ready to help you, a client or someone you know with our “not-normal loan” programs! Call us today at 707-523-2099.

Best, Forest & Ken – The Superhero Guys in the White Hats

Recently Funded Not-Normal Loans:

Santa Rosa, California (Sonoma County)
Loan Amount: $360,000
Loan Program: Investment Property Purchase
Loan To Value: 60%
Days To Fund: 8 days
Why Turned Down Elsewhere: FICO issues

Orangevale, California (Sacramento County)
Loan Amount: $295,000
Loan Program: Owner Occupied Business Purpose
Loan To Value: 65%
Days To Fund: 19 days
Why Turned Down Elsewhere: Bankruptcy

South Lake Tahoe, California (El Dorado County)
Loan Amount: $311,000
Loan Program: Owner Occupied Temporary
Loan To Value: 64%
Days To Fund: 14 days
Why Turned Down Elsewhere: Property condition

Santa Rosa, California (Sonoma County)
Loan Amount: $568,000
Loan Program: Bridge loan
Loan To Value: 80%
Days To Fund: 12 days
Why Turned Down Elsewhere: Needed a fast loan

Vallejo, California (Solano County)
Loan Amount: $420,000
Loan Program: Investment Property Refinance
Loan To Value: 56%
Days To Fund: 24 days
Why Turned Down Elsewhere: Short sale

Note:  Get our financing despite bad credit, difficult to prove income, property a fixer, etc!  We finance Jumbo loans, Bridge and short term loans, Owner Occupied purchases and refinances, investment purchases, commercial and land.

Accomplish Your “Catch of the Day” With Hard Money

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Investment Purchase Loan
Daly City, California

I had a Realtor and his Buyer call me, wanting a fast loan.  The Buyer didn’t want to miss out on a good property buy in San Mateo County.  He was able to do a 35% down payment but needed a $460K loan to complete the purchase.

With our Hard Money programs, getting fast real estate financing for that loan to value on a non-owner purchase was easy.  Both Realtor and client were very appreciative to get the loan done in 8 days.  Now that’s what I call a great catch of the day!

If you or someone you know needs a fast loan or is having difficulty with loan approval for a purchase or even a refinance, call 707-523-2099, we are here to help.

Broker and Buyer Loan Rescued

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Corona, California Purchase

Recently a Broker from Riverside County contacted me to help rescue a frantic client, who was trying to buy a rental property.  This particular Home Buyer was having difficulty getting approval elsewhere despite making excellent monthly income and having good credit (over 700 FICO). The problem was he was self-employed with difficult to prove income.

This was not a problem for my Hard Money loan programs. The loan amount needed was $749K for 2 years with a loan to value at 75%. The transaction was a Non-Owner Occupied loan for a single-family residence that the Buyer wanted to turn into a rental for additional monthly income.

I got right onto it, found one of our Private Investors who could fund the purchase, and in less than 2 weeks we had a satisfied referring Broker with a relieved and happy Buyer!

If you or someone you know is having difficulty with loan approval for a purchase or even a refinance, call me at 707-523-2099.  I would be more than happy to let you know how I can help with a Hard Money loan.

Hard Money – No Fake News Here

waterskiing crop

Instead of taking full advantage of the recent fake news fad and sensational headlines,  letting you know of our amazing skills as water-skiers, we’ll get right down to the truth:

We are highly experienced Hard Money Lenders available to help you, a client or someone you know obtain a real estate loan, especially when turned down elsewhere.  We can fund fast; help finance a property that doesn’t qualify for conventional financing; lend to those who have difficulty proving income, as well as those borrowers with poor credit who have been turned down elsewhere.

Call Us today at 707-523-2099, we would be happy to let you know how we can help!

Best, Forest & Ken, The Guys in the White Hats

Recently Funded

Santa Rosa, California (Sonoma County)
Loan Amount: $450,000
Loan Program: Bridge Loan
Loan To Value: 70%
Days To Fund: 8 days
Why Turned Down Elsewhere: Needed a fast loan

Sacramento, California (Sacramento County)
Loan Amount: $360,500
Loan Program: Non-Owner, Investment Purchase
Loan To Value: 70%
Days To Fund: 8 days
Why Turned Down Elsewhere: Property Condition

Vallejo, California (Solano County)
Loan Amount: $365,000
Loan Program: Non-Owner Business Purpose Cash-Out
Loan To Value: 65%
Days To Fund: 21 days
Why Turned Down Elsewhere: Short Sale on record

Santa Rosa, California (Sonoma County)
Loan Amount: $450,000
Loan Program: Owner Occupied Temp
Loan To Value: 27%
Days To Fund: 10 days
Why Turned Down Elsewhere: FICO score

Fresno, California (Fresno County)
Loan Amount: $1,100,000
Loan Program: Investment Property Purchase
Loan To Value: 51%
Days To Fund: 14 days
Why Turned Down Elsewhere: Bare Land

Is 2017 The Year Of Real Estate Investing?

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Recently a chief economist for Fannie Mae, Douglas Duncan, told a group of financial professionals he sees no recession in sight.  His group forecasts the economy will grow by a conservative 2% this year.  But, he added, “Frankly, from a housing perspective, I think there will be a strong growth.”

Mr. Douglas is particularly optimistic regarding the growth of Baby Boomers as real estate investors.  Many of them may choose to downsize or relocate as they get closer to retirement.  Another group he sees showing interest in buying homes is the Millennials, particularly older ones who may have been renting single-family homes up until now and consider the time is right to buy.

With this information in mind, it looks like investing in real estate could offer a solid foundation for wealth growth – be it as an Investor for additional monthly income on rentals or as homeowners who benefit with tax write-offs and equity growth in their home.

For over 29 years now, Sun Pacific Mortgage and Real Estate, a family owned and operated business, has been here helping with hard money loans.  We have helped put thousands of buyers into homes and financed thousands of trust deed offerings through private investors, looking to make higher returns regularly.

Look at our website or call us at 707-523-2099 with any questions about investing in real estate trust deeds we regularly offer.  We are here to help you with your real estate borrowing and investing needs.

We Can Get You Loan Approval

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We have all noted and experienced the tightness of the real estate market over the past several months.  But just as a tightly wound spring can leap forward at any moment, the real estate market is preparing to take such a leap.  Everyone should be ready for the opportunities that lie ahead.

And Hard Money loans can be of great benefit for those opportunities:

  • They can be funded fast, in less than 1 week if needed.
  • They are often considered “all cash” making them stronger offers.
  • FICO scores are not a determining factor.
  • Hard Money offers flexibility and speed that is needed in a swiftly moving market.

 

We are here to help you, a client or someone you know get their loan approved.
Call Us today at 707-523-2099.

Recently Funded

Santa Rosa, California (Sonoma County)
Loan Amount: $450,000
Loan Program: Owner Occupied Purchase
Loan To Value: 27%
Days To Fund: 10 days
Why Turned Down Elsewhere: Needed a fast loan

Healdsburg, California (Sonoma County)
Loan Amount: $580,000
Loan Program: Non-Owner Purchase
Loan To Value: 80%
Days To Fund: 7 days
Why Turned Down Elsewhere: Property Condition

Santa Rosa, California (Sonoma County)
Loan Amount: $465,000
Loan Program: Commercial Purchase
Loan To Value: 40%
Days To Fund: 10 days
Why Turned Down Elsewhere: FICO score

San Rafael, California (Marin County)
Loan Amount: $240,000
Loan Program: Land Purchase
Loan To Value: 35%
Days To Fund: 21 days
Why Turned Down Elsewhere: Bare land

Angwin, California (Napa County)
Loan Amount: $468,000
Loan Program: Bridge Loan
Loan To Value: 80%
Days To Fund: 11 days
Why Turned Down Elsewhere: Short sale

Temporary Purchase Loan in San Francisco

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These particular home buyers were referred to me after being turned down by their local bank.  They were just about to sign the closing papers at Escrow for their new home,  but final loan approval fell through.  They needed a fast bridge loan so they wouldn’t miss out on the new house they wanted!

They still lived in their house in San Francisco,  but wanted to move to a new home in a different San Francisco neighborhood and needed a $430,000 temporary home loan to make this happen. We were happy to make this happen for them.

In just over 2 weeks, I got their loan approved and funded so they could sign and close on their new home.

We specialize in financing loans that have been turned down elsewhere.  Any credit issues, difficult to prove income, property condition, etc. – not a problem!

Call our office at 707-523-2099 if you need some alternative financing for any real estate purchase or refinance.  We are happy to help!

Visit our San Francisco website at: http://www.sanfranciscohardmoneylenders.com/

Alternative Financing Programs

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Hard Money Loans in General:

Only 2 qualifications for the following loan programs:

1. Decent existing equity or at least 20% down payment;

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

Normal turn-around time – 1-1/2 to 2 weeks.

Loans from $150,000.00 to $1.5 million.

Bridge or Temporary – Owner Occupied and Investment Property:

Allows homeowner to sell their house after they purchase a new one. Short term loan on the equity without the need to first sell current home. They can buy new home then sell the existing home.

Also used to buy new home with short term loan awaiting qualifying for conventional loan. Additionally used to do fix-ups of existing home in order to get maximum selling price.

Purchase/Refinance – Owner Occupied and Investment Property:

Easy qualifying on credit, proof of income or condition of property.  These loans are normally done once bank or conventional lender can’t do the loan.

Can be used for any purpose including fix-up to then resell/flip. Majority of the time the buyer can fix their qualifications within a year or 2 and refinance into a conventional loan.

Business Purpose:

Short term loan based on property equity. Most commonly used to start a business or purchase a rental property.

Commercial:

Small commercial buildings, easy qualifications up to $1million.

Land/Cannabis Loan:

Must have at least 50% down.

 

If you’re looking for alternative financing in California, call us today! (707) 523-2099

5 Day RUSH Loan Funding for Condo in Sacramento

sacramento

Last month a Conventional Lender called us on behalf of one of their borrowers who had just been turned down for a conventional loan, 3 weeks into their 4 week purchase agreement for a condo in Sacramento.  To say the least, the home buyer was distressed and a bit hopeless.

The purchase price was $285,000 and the home buyer only had a 20% down payment to apply to their loan, making the loan-to-value 80%.  Luckily, this is the max LTV that our private investors will approve.  

So, we got right to it and within 5 days of the  initial call, the loan funded and recorded!  We turned the distressed and hopeless borrower into a very happy and proud home owner, keys in hand.

The Conventional Lender was grateful that we could rescue this opportunity and it became a win-win for all involved.

Sun Pacific Mortgage & Real Estate is a family owned and operated Hard Money Financing Company, serving all of California since 1988.  We have become known as The Guys in the White Hats and we offer short term (1-5 years) hard money loans for residential, owner occupied and non-owner occupied (SFR and multi-units), as well as for some land and commercial real estate.  Our loan amounts range from $100,000 on up through jumbo size mortgages ($400K – $1,000,000) and interest rates range from 8-12%, interest only.

Visit our Sacramento lending website: http://www.sacramentohardmoneylenders.com/

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