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It Is That Time of Year in Real Estate To Have Alternative Financing Readily Available

“Gave us an excellent rate on our hard money loan and we got our money 5 days after we applied! I highly recommend Sun Pacific Mortgage!” LW

“I can’t say enough good things about this company! The best experience I have ever had! Helpful & fast from the start! I highly recommend Sun Pacific Mortgage!! Thanks so much to the whole Sun Pacific Family!” PD

Spring has sprung and Buyer demand is increasing. Agents, Lenders and Buyers need their best foot forward when submitting offers.

Our Hard Money programs can help sweeten a deal as well as quickly fund if needed, despite poor credit, bankruptcy, short sale, difficult to prove income, etc.

See below for some of our recently funded loans so you can get a better idea how we are here to help you!

Call Us today (707) 523-2099.

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

P.S. We love referrals!

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Recently Funded:

We finance Jumbo loans, Bridge and short term loans, Primary Residence or Owner Occupied purchases and refinances, non-owner purchases for single and multiple units, some commercial and land. Get our financing despite credit score, self employed-difficult to prove income, need fast financing, property a fixer, etc!

San Rosa, CA (Sonoma County)
Loan Type: Owner Occupied Bridge Loan
Amount: $330,000
Days to fund: 15 days
Not Qualified Elsewhere: Wanted to buy new home before selling current house.

Calistoga, CA (Napa County)
Loan Type: Investment Property Refinance
Amount: $333,000
Days to fund: 13 days
Not Qualified Elsewhere: Owns multiple properties and credit issues

San Francisco, CA (San Mateo County)
Loan Type: Owner Occupied Refinance, Business Purpose
Amount: $700,000
Days to fund: 35 days
Not Qualified Elsewhere: Bankruptcy in recent years

Willits, CA (Mendocino County)
Loan Type: Non-Owner Occupied Purchase
Amount: $2880,000
Days to fund: 17 days
Not Qualified Elsewhere: Property a fixer

Petaluma, CA (Sonoma County)
Loan Type: Primary Residence with Business Purpose
Amount: $275,000
Days to fund: 121days
Not Qualified Elsewhere: Self Employed, and credit issues

San Marcos, CA (San Diego County)
Loan Type: Owner Occupied Refinance
Amount: $316,000
Days to fund: 21 days
Not Qualified Elsewhere: Self Employed, difficult to prove income

Santa Rosa, CA (Sonoma County)
Loan Type: Refinance of Commercial Property
Amount: $350,000
Days to fund: 26 days
Not Qualified Elsewhere: Divorce circumstances adversely affected credit score

Get Your Hard Money Questions Answered Here….

Even the most experienced conventional Brokers and Lenders might not know what a hard money loan is and how it can be beneficial to you…or them.

I have lost count of how many Realtors, traditional Lenders, friends and acquaintances have asked me the same question: “What is hard money?”.

get clear on hard moneyWell, the article “Hard Money 101: Everything You Need To Know About Getting Started With Hard Money Loans”, posted by REtipster pretty much answers any question someone could have about hard money. Check it out:
http://retipster.com/hard-money-101-everything-need-know-getting-started-hard-money-loans/

I admit that I had very little understanding about this type of alternative financing when my parents asked me to move back to Sonoma County and work in the family business, after living on the East Coast for so many years. I’m sure glad my wife and I decided to live in Santa Rosa and participate in this unique real estate finance option as it has and can help so many home buyers!

I bought my own home in Santa Rosa using Hard Money as I was self employed and my wife had less than 2 years of tax returns from her W2 job. We couldn’t get a home loan from anyone we called, just kept getting turned down and this was despite us having a 25% down payment. We really did not want to miss out on this house, good area, nice neighborhood and close to a good school. So, we decided to get a Hard Money loan and boy are we glad we did! We found out from the Listing Agent that the Buyers accepted our offer as it was stronger than others, since we could close fast with the Hard Money financing, as it was virtually considered cash and it came from a company that was well known, having been in business for almost 25 years.

Since this time, as the Lead Loan Originator for Sun Pacific Mortgage and Real Estate, I have worked hard to help others understand the benefits of Hard Money financing (also known as Private Money). Sure it has higher interest rates but this is all relative to what one is currently paying in rent or will be paying for rent. Our family’s monthly payments increased by only $200 from our apartment we were renting but it was completely worth it as we got an entire house with a nice yard – and were able to refinance about 9 months later!

So the question really should just be, “Is Hard Money right for me?”. We know hard money is legitimate when gotten from a licensed Hard Money Broker and that it can be very beneficial in the right circumstances…just as it is with other types of conventional financing.

If you have any other questions or are interested in getting a Hard Money loan in Santa Rosa, Sonoma County, North Bay or really anywhere in California, please do call me at our office 707-523-2099 and I will let you know how we can help.

Best, Ken – Another Guy in the White Hat

Lead Loan Originator at family owned and operated Hard Money Broker, Sun Pacific Mortgage and Real Estate, serving all of California since 1988!
CA Bur RE license #01858042. NMLS #1221130.

Hard Money Loan of the Month – April

Hard Money Loan of the Month
By Ken Walker, Lead Loan Originator at Sun Pacific Mortgage & Real Estate

75% Loan to Value rehab loan in Oakland, California

Last month a borrower called needing a short term loan on a distressed property in Oakland, which he wanted to fix up and sell (flip).

saveHe was in contract with a purchase price of $790,000, requesting a loan of $593,000 – a 75% loan to value loan for this distressed property in Oakland.

We got right to it and within 1 day, had loan approval with a 9.75% interest rate for a 3 year loan!

One of our favorite mottos has become, “If we say it can be done, we’ll get it done!”.

This Bay Area rehab loan was a win-win for all.

Our family owned and operated Hard Money financing company, Sun Pacific Mortgage & Real Estate has served 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.

Click here to learn more about our specific alternative finance programs and rates as well as see more funded loans.

Recently Funded – Here To Help In 2016!

Here’s to you kicking off a fantastic new year in real estate by taking advantage of our alternative financing for you or your clients!

guys

2015 marked another great year of Hard Money Loans from The Guys in the White Hats. January 2016 is our family company’s 28th year anniversary, serving all of California with our alternative finance programs!

This past year was very busy with many home buyers, home owners, Realtors and investors helped by our alternative financing programs, also known as hard money.

We recently expanded our family ranks and programs we offer, to be able to help even more people in this new year. (You can see our updated rate sheet below.)

We hope the following recently funded transactions through our office, give you a better idea as to how we can help you and/or your clients this year!

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

P.S. We love referrals!

Recently Funded Transactions:

We finance Bridge and short term loans, Owner Occupied purchases and refinances, non-owner purchases for single and multiple units, commercial and some land. Get our financing despite credit score, self employed-difficult to prove income, need fast financing, property a fixer, etc!

Petaluma, CA
Loan Type: Owner Occupied Purchase
Amount: $420,000
Days to fund: 24 days
Reason needed: Credit score below 580

Apple Valley, CA
Loan Type: Owner Occupied Refinance
Amount: $341,600
Days to fund: 19 days
Reason needed: Self Employed with difficult to prove income

Santa Rosa, CA

Loan Type: Refinance of Non-Owner 2nd to handle a balloon payment
Amount: $377,000
Days to fund: 38 days
Reason needed: Had bankruptcy a couple of years back

San Anselmo, CA
Loan Type: Owner Occupied 2nd Business Purpose
Amount: $110,000
Days to fund: 15 days
Reason needed: Wanted to make improvements to the property

Penngrove, CA
Loan Type: Construction Non-Owner
Amount: $225,000
Days to fund: 25 days
Reason needed: Completing construction on a house

San Anselmo, CA
Loan Type: Bridge Loan
Amount: $235,000
Days to fund: 33 days
Reason needed: Wanted to buy another home while selling current one

Ukiah, CA
Loan Type: Commercial 2nd
Amount: $460,000
Days to fund: 21 days
Reason needed: Wanted to buy another piece of property

Click this link for our rate sheet, showing the programs we offer.

CALL TODAY, The Guys In The White Hats at
(707) 523-2099

The Key Attributes You Want In A Hard Money Broker

Having a local, truly experienced and educated Hard Money Broker behind you for your purchase or refinance is more important than you may think.

A recent Hard Money article in Trust Deed Capital BLOG covers the importance of this quite nicely. Titled “Qualities of Top Hard Money Lenders”, posted by Ken Meyer.

success bullseyeI can say with complete certainty that after 28 years of Northern California real estate and mortgage experience under my belt, I can let a home buyer, investor or another real estate agent know within just a few minutes if they are qualified for a hard money loan or not.

Having extended my reach throughout California over the past 6 or so years, my family owned and operated alternative finance Brokerage is become more and more expert with the real estate in the Southern and Central California as well.

I have included the original link to the above mentioned article as well as the article itself below, it is important to share with anyone who is considering an alternative source of real estate financing due to poor credit, being turned down elsewhere, being self employed with difficult to prove income or you just need fast financing.

Best, Forest – The Guy in the White Hat
Co-owner and Hard Money Broker of Sun Pacific Mortgage & Real Estate
www.Sunpacmortgage.com

Original blog link: http://www.trustdeedcapital.com/blog/qualities-of-top-hard-money-lenders?utm_source=hs_email&utm_medium=email&utm_content=24398434&_hsenc=p2ANqtz-8tkz6Ak3yltCxU3Rwac1qMELgzibNpeCWOfJMLyS58iwX7zSICwP7xuejDx-CGB22rF3yJqxOyUz-u4UvImBz_wKOI_A&_hsmi=24398434

Qualities of Top Hard Money Lenders

Posted by Ken Meyer on Tue, Dec 08, 2015
While it may seem, to the inexperienced, that hard money lenders operate in a “no man’s land,” the reality is, the top Hard Money Lenders have certain key characteristics in common. If you do decide to retain the services of a hard money lender, here are some of their best practices that you should be on the lookout for:
Excellent Reputation
If you are looking for a hard lender because you have been rejected by a bank, then you might be tempted to run to the first hard lender you can find to get your loan quickly. But do your due diligence first. Some hard lenders are genuinely interested in helping you finance your real estate project, but others are little more than loan sharks. Ask yourself some of the following questions as you areassessing potential lenders:

1. Does the lender have someone that you can meet with and contact? Some hard money lenders operate in all 50 states, but you might consider finding one who operates in your state. The most reputable hard money lenders will want to see the property you are planning to purchase firsthand.

2. Does this lender have a legitimate web site? Many hard money lenders have web sites that are designed to gather your information before passing it along to a third party. Avoid these kinds of sites.

3. Is the lender in good standing with its investors? Does the lender have any pending lawsuits from its investors over bad loans or foreclosed properties? If it does, this can be a red flag as to the financial health of the lender.

Seasoned Investing Knowledge

Most hard money lenders are not the mindless paper-shufflers that you find at a traditional lending institution that need to get acceptance for every decision that they make. Instead, they are seasoned investors who have been to this particular rodeo more than once and can quickly and efficiently vet a deal that is worthy.

Experience

Most hard money lenders have been in the real estate game for most of their adult life. They understand that manyproperty deals do not fall into the neat categories set by the traditional lending institutions in the industry. Their vast experience, however, allows them to evaluate a deal on its merits, rather than on some arbitrary criteria set up by a lending committee.

Trust

The hard money lending industry is a reputable one that recognizes the value of secure business transactions. For this reason, hard money deals are structured along the lines of traditional mortgages. That is, appraisals and inspections are done, escrow accounts are established, and standard written contracts are utilized. The whole point of the process being to protect the interest of both the borrower and the lender.
oOo

Is Hard Money For You?

IS HARD MONEY FOR YOU?

Hard money loans aren’t for everyone, but, those with less than stellar credit, needing a quick loan, wanting to fix up a property, all fall within the parameters of why hard money is beneficial.

If a Borrower qualifies for conventional or traditional financing, I tell them. Not only is it legal but it is the right thing to do.

However, what about those who want to buy a dump property and fix it up? What about the home buyer who was just turned down by their bank for a home loan yet they are already in Escrow and need a loan quickly so they don’t lose out on that house? What about someone with a bankruptcy within the past couple of years?

A Hard Money loan is the answer.

There was a good blog posted by Trust Deed Capital in August called “Quick Hard Money Loan Structure Explained”, that explains in pretty good detail what hard money is and how it is beneficial money-guy-walking-with-bag-of-money(link to article below).

After 28 years in Sonoma County, our family company has helped thousands of home buyers and home owners, investors and other real estate agents and lenders to get a hard money loan and accomplish the deal they were working on!

Anyone who lives in or wants to live in California – Northern CA and Southern CA ( yes, this includes Sonoma County, Monterey, Santa Barbara, Napa, San Mateo, Marin, etc.) who is having problems getting a loan, give us a call and see how we can help.

Best, Forest – The Guy in the White Hat
707-523-2099

Hard Money Broker and Owner at family owned & operated Sun Pacific Mortgage and Real Estate, Serving all of California Since 1988!
CA Bur RE ID #01000559. NMLS ID #289456

Quick Hard Money Loan Structure Explained:
http://www.trustdeedcapital.com/blog/quick-hard-money-loan-structure-explained?utm_source=hs_email&utm_medium=email&utm_content=21218492&_hsenc=p2ANqtz–DeNuMOJJRwxQxB7lBRu1wPaOfUeiIaA0RnKHG9ydpF5sExHcEsZivjx6BLuIfZha8htH7rsV9QHtc-82jJFpX_ZAuGA&_hsmi=21218492

Don’t Give Up. You COULD Qualify To Buy A Home NOW.

Don’t Give Up. You COULD Qualify To Buy A Home NOW.

Home buying CAN become a reality. There are many loan programs available and families might just qualify to buy now – but they have to look for experienced lenders and agents to help get them all the information out there. DON’T GIVE UP.

Persistence. Experience. Sincerity. Caring. These are traits any Realtor and Lender or Broker should have when you decide to work with them. You need to know all your options for BUYING NOW.

Cost-Of-Waiting-KCMThe KCM Crew just wrote another great blog called “The Cost of Waiting To Buy a Home”. It lays it out pretty clearly how waiting to save up for more of a down payment or waiting until your credit is the highest you can get it, just costs you more money down the road when you actually buy your home.

Stop waiting, wondering and hoping. It’s time to take action and find your local licensed, experienced, honest and persistent Agent who can provide you with what you need to get into a home – sooner than later.

If you want any information about alternative financing due to poor credit, difficult to prove income, property a fixer, etc. then don’t hesitate to call my office at 707-523-2099 and we can provide this. We are located in Santa Rosa and have been offering hard money loans (also known as private money) for over 28 years. We offer $100,000 on up to jumbo size loans in the North bay areas, South bay areas and actually throughout all of California.

Best, Forest – The Guy in the White Hat

Hard Money Broker of family owned and operated Sun Pacific Mortgage & Real Estate company, serving all of California since 1988! www.sunpacmortgage.com
CA BRE License #01000559. NMLS #289456

Original KCM blog link: http://www.keepingcurrentmatters.com/2015/09/16/the-cost-of-waiting-to-buy-a-home/?utm_source=feedburner&utm_medium=email&utm_campaign=Blog_Promo

Recently Funded Deals – The Buck Stops Here

Recently Funded Deals – The Buck Stops Here

Being the last hope for an individual or family to buy a home or an investment property is not just a job for us but something we are proud we can be.

We hope the following recently funded deals shows you how we can help you, your client, a family member or friend, anywhere in Sonoma County and all throughout California for that matter.

“The Sun Pacific Team is extremely knowledgeable with decades of experience. They also really care about their clients, are efficient and provide the lowest stress possible. I would hire Sun Pacific again, without hesitation, for my next home buying experience.” Regards, Karen

Call Us Today at 707-523-2099 with your real estate finance scenarios and see how we can help.

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

P.S. We love referrals!

guys

RECENTLY FUNDED TRANSACTIONS:

NOTE: Get our financing despite credit circumstances, self employed difficult-to- prove income, need of fast financing, property a fixer, etc! We finance investment properties, owner occupied properties, multi-units, some commercial and land throughout California.

SANTA ROSA, CA
Type: Rental Properties Refinancing
Amount: 531K
Days to fund: 8 days
Reason needed: Bankruptcy in the past years

BERKLEY, CA
Type: Investment Property Purchase
Amount: 593K
Days to fund: 22 days
Reason needed: Short Sale still on record

RIVERSIDE, CA
Type: Owner Occupied Bridge
Amount: 355K
Days to fund: 14 days
Reason needed: Property condition poor

ROHNERT PARK, CA
Type: Principal Residence Purchase
Amount: 232K
Days to fund: 8 days
Reason needed: Difficult to prove income

SANGER, CA
Type: Owner Occupied Short Term
Amount: 199,000
Days to fund: 8 days
Reason needed: Credit Poor

OAKLAND, CA
Type: Commercial Property Purchase
Amount: 221K
Days to fund: 24 days
Reason needed: Owned multiple properties

FALLBROOK, CA
Type: Owner Occupied Purchase
Amount: 703K
Days to fund: 22 days
Reason needed: Self Employed

Click this link for our rate sheet, showing the programs we offer.

CALL TODAY, The Guys In The White Hats at
(707) 523-2099

 

Stop Wondering If You Qualify For A Home Loan

You owe it to yourself/your family to truly FIND OUT from numerous experienced Lenders, what the available [and new] multiple loan programs are!
100 dollar bill and sign

Wondering If You Qualify For A Home Mortgage?  Find Out For Sure!

Are you someone who does not think they should bother contacting an experienced and licensed Mortgage Broker or Lender as you “already know you aren’t qualified”?

Well, change that thought!

Pick up your phone, get onto your computer for an internet search or just walk in to a good local Lender.  There are numerous loan programs available. Find out which loan program best suits you.  And don’t just go to a bank.  Also go to local Brokers and portfolio type lenders (such as a Credit Union).  Even consider Hard Money or Private Money financing as these have less credit hassle financing.

Whether you need an investment property refinance or a jumbo loan to buy that big family house in Santa Rosa, San Francisco or Marin, or, how about in Monterey Bay or another beautiful California city? ALL Programs should be considered as you could be missing out on that specific home mortgage which you do qualify for!

It can’t hurt to find out for sure, from experienced and licensed mortgage professionals.  You may just be happy you asked.  You could soon become a new homeowner!

This Keeping Current Matters Blog should help further dispel any such idea:

“What Do You Really Need to Qualify for a Mortgage?”  http://www.keepingcurrentmatters.com/2015/09/03/what-do-you-really-need-to-qualify-for-a-mortgage/?utm_campaign=Blog_Promo&utm_medium=Social&utm_source=Facebook&utm_content=dailyblogpost

Best, Ken

Lead Loan Originator at Family owned & operated Sun Pacific Mortgage & Real Estate, Hard Money Broker Serving all of CA Since 1988!   707-523-2099 www.Sunpacmortgage.com

CA Bur Real Estate License #01858042 and NMLS #1221130

5 Biggest Myths About Hard Money Loans

5 Biggest Myths About Hard Money Loans

 

myth-v-truthBeing a Hard Money Broker for over 25 years here in Sonoma County but licensed for the entire state of California, time and time again I hear such myths or questions similar to these.

 

This should hopefully dispel any last vestige of concern or uncertainty about the value and use of hard money in real estate.  Be it to buy your own home or a 2nd home, a flip, an investment property, land to build on, etc. – hard money can be the best choice for you.

 

The myths so aptly covered in Trust Deed Capital BLOG, by Ken Meyer on July 21, get cleared up by providing the facts:

 

 

 

Myth #5: Only the Desperate Seek Out Hard Money Loans

One of the most difficult myths to dispel is that anyone who goes outside the traditional lending structure (banks, for the most part) must be desperate for a loan. This is the furthest thing from the truth, since most of the people who seek out hard money loans are smart business people who would rather work with an individual investor on a project than deal with a huge lending institution.

Myth #4: Hard Money Lenders Are All Loan Sharks

Hard money lenders are business people, just like their clients. A hard money lender provides money based on the investment, rather than based on the person’s credit score, which means that the lender’s eye is on making the investment succeed. Fairness and good business sense means you get return business. Setting impossible, harsh terms on the other hand means that people won’t come to you unless they’re desperate, which is something hard money lenders want to avoid at all costs.

Myth #3: Hard Money Loans Are More Expensive Than Traditional Ones

You get what you pay for when it comes to financing. If you need to get money in the next two days so you can acquire and flip a property for a huge profit, then time is of the essence. If a traditional lender can’t get you the money in the time frame you need, then it simply isn’t a valid option.

Hard money loans provide flexibility, but their costs are also affected by the loan in question, the profit to be made, and the laws of supply and demand. All of that said, the interest rate on a hard money loan can sometimes be higher than a traditional loan, but they are also usually shorter term and can close quickly. Time is money in investment real estate, so when you look at the big picture, a hard money loan is usually more cost effective than a traditional loan.

Myth #2: Hard Money Loans Have Draconian Rules

Hard money loans are given by an individual, which means that the rules will change from one lender to another. Generally speaking, hard money loans have different restrictions put on them than consumer loans. This is for a specific reason; the lender is looking out for the investment. Lenders and borrowers are encouraged to negotiate until they reach terms they feel they can work under, which is often not the case for banks and other traditional lenders.

Myth #1: It’s One or the Other

Perhaps the biggest myth when it comes to hard money loans is that you can’t also have soft money loans (the more typical sort you get from the bank). There are no rules that say this, and often those who need as much financing as they can get will draw from multiple sources to make sure they have enough capital to get the project done.

oOo

 

Original Trust Deed Capital Blog link: http://www.trustdeedcapital.com/blog/5-biggest-myths-about-hard-money-loans?success=true

This same blog comments on how scary hard money can seem to be, but this only comes about because of the lack of understanding and knowledge required to properly invest with or borrower hard money.

I hope that if you or someone you know that is having trouble getting a loan elsewhere, has a time sensitive purchase requiring financing, etc. that you honestly check out hard money as an option.  You may well be very glad that you did!

 

 

Best, Forest – The Guy in the White Hat

Hard Money Broker Serving all of CA Since 1988!

 

Sun Pacific Mortgage & Real Estate, Family owned & operated (707)523-2099.

www.Sunpacmortgage.com; CA Bur of Real Estate license #01009559 and NMLS #299456

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