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Loan of the Week – Just In Time For Your Valentine!

February 13, 2020

Valentines Day

Everyone Loves Bigger & Faster Loans!

We can help make this Valentines Day better for you or your client by providing fast financing with our alternative loan programs – just as we did below: 

Loan of the Week

A mortgage broker in Brisbane, CA reached out to us for assistance with one of his clients, who was unable to obtain financing because of a few issues with his credit report. 

This client was trying to finance a business transaction using his primary residence as collateral, a reasonable solution since he had considerable equity in it.  He needed $470,000 to solve his problem. 

After examining the opportunity, we found this loan fit into our two main Hard Money qualifications of good equity/decent down payment and ability to repay the loan.  We quickly gathered the needed documentation and had his financing funded in less than 12 days!

 

If you or someone you know needs a fast loan this Valentines, or there is difficulty getting real estate financing with another lending institution, give us a call at 707-523-2099 or just reply here.  We’ll quickly let you know what we can do for you!

Real Estate Predictions for 2020

February 11, 2020

Real Estate Predictions For 2020

At the end of the year all eyes are on the new year.  Too bad we don’t have a crystal ball to predict the real estate market of the future.  We only have the current situation and historical trends to guide us.  

Real estate market trends are driven by several factors:  inventories, home prices, interest rates, days on the market, regional differences, population shifts, and global stability to name a few.  No wonder it is virtually impossible to predict the future.

Let’s look at a few the driving forces which have influenced real estate in the past:

INVENTORIES:  Housing inventories have fallen for the past 43 straight months, going back to 2016 according to the noted housing expert, Eman Hamed Mashvisor.  This shortage has driven up prices and increased competition, especially in the entry-level home market.

HOME PRICES: The rise of home prices has outpaced income by 31% since 2013.  2019 saw some moderation in pricing, but still leaves the appreciation rate for 2020 at 3.7%.

MORTGAGE INTEREST RATES: Rates continue to drop for the conventional lending community.  Those who fail to qualify for these loans can look for relief from alternative financing Hard Money lenders, such as Sun Pacific Mortgage, to help get them into a home or invest in rental properties.

MILLENNIALS:  Don’t discount the impact of the immense millennial market in 2020.  Their demand for entry-and-mid-level homes in urban areas could help keep us in a seller’s market given the lack of inventories.

 

What have we learned from history and from this examination of the present market?  Real estate is a complex entity. The only prediction that is guaranteed for 2020 is the world of real estate will remain interesting.  Get ready to enjoy the ride! 

Recently Funded – Growing In Popularity

February 6, 2020

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Ever-Growing Popularity For This Financing

Last year our family of borrowers grew to more than 10,000!  Many of these new clients were referrals from our trusted army of referring Realtors, Lenders and Mortgage Brokers who turned to us for assistance in getting their home buyers and borrowers the financing they needed.

“You have no idea how happy you made this client. Distressed situations are never easy, but you really did make it as quick and easy as possible. (And this was not an easy transaction so THANK YOU!)  More to come!” – Lender, Elise B.

We look forward to helping you or someone you know with our alternative financing, also known as Hard Money. Call Us at 707-523-2099 and we will get back to you quickly!

Recently Funded

Location: Concord, Contra Costa County
Finance Program: Business Purpose Primary Residence Cash-Out
Loan Size: $325,000 with 57% LTV
Days To Finish: 24
Why Needed Us: Had short sale and bankruptcy in past, stopping him from qualifying with other conventional lenders. 

Location:  Diamond Springs, Eldorado County
Finance Program: Investment Property Purchase
Loan Size: $1,050,000 with 40% LTV
Days To Finish: 21
Why Needed Us: Condition of property was making it difficult for other financing. 

Location:  Rancho Santa Margareta, Orange County
Finance Program: Primary Residence Temporary Financing
Loan Size: $460,000 with 63% LTV
Days To Finish: 14
Why Needed Us: Self employed with difficult to prove income. 

Location:  Napa, Napa County
Finance Program: Primary Residence Refinance with Cash-Out
Loan Size: $350,000 with 58% LTV
Days To Finish: 19
Why Needed Us: Needed fast cash for business purpose use. 

Location:  Santa Rosa, Sonoma County
Finance Program: Investment Property Refinance
Loan Size: $508,000 with 64% LTV
Days To Finish: 26
Why Needed Us: Poor credit

What a Difference a Decade Makes!

February 4, 2020

What A Difference A Decade Makes

Just ten years ago, many homeowners were desperately trying to hang on to their homes.  Trying to sell a home was considered a nightmare. Buyers were having a struggle to find a financial institution that would lend them the money to purchase or refinance a home.  Thank heavens that is all behind us!

The fundamental landscape of American real estate has changed in many ways.  This phenomenon is especially evident in California where more people are moving out of cities, and Millennials are replacing the Baby Boomers and Gen Xers as the dominant buying forces. One constant has been the lack of homes for sale making it difficult for buyers since 2015.  Even if home construction increases slightly, it still won’t be enough.  

Buyers are done with “overpaying”.  This has happened already in major cities like San Francisco where housing prices have skyrocketed and driven many to more affordable locations, even if it means increasing commute times.  

By the middle of 2020 the oldest Millennials will be turning 39, and it is predicted that they will account for more than 50% of the mortgages taken out in the country.   Millennials are going to be a big factor in the homebuying industry because it is at this age, that they begin to think of having a family and are more motivated to become first time home buyers.

Sellers of entry-level homes should be very happy in 2020, because these homes will continue to be the most in-demand properties.  Higher end sellers should be mindful of the competition and price their home competitively if they don’t want their properties to sit on the market for extended periods.

While we are all enjoying a healthier real estate market, compared to the one we suffered through a decade ago, we still have our issues:  lack of inventory, construction restrictions, and over-priced homes. But, as with all good (and bad) things, it too will pass.  

The real estate market has always been cyclical and the 2020 prediction is that real estate values will continue to increase, overall making it a good time to sell or buy!

Loan of the Week – Fast For Over 30 Years

January 30, 2020

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Fast Alternative Financing For Over 3 Decades!
Loan of the Week

A past borrower called us about obtaining a loan against her property in Tiburon.  She was having difficulty getting approval from another lending institution even though there was a healthy amount of equity available.  

Although she was retired, she had regular monthly income and excellent credit.  She needed $320,000 for debt consolidation and desired upgrades to her property. 

She was a perfect fit for our unique Alt-A Hard Money Program!  We were able to get her loan approved in 3 days and with a lower than usual rate.   In two weeks, she had her money in hand!

If you or someone you know needs fast financing, or is having difficulty getting real estate financing elsewhere, give us at call at 707-523-2099.  We’ll quickly let you know what we can do for you. 

Tips To Sell Your House in 2020?

January 28, 2020

Tips To Sell Your House In 2020

When you finally decide to sell your home, what mistakes should you consciously avoid in order to have the best outcome? Although you are excited to make new memories in new spaces, you still carry deep sentimental attachments to the house you are leaving behind.  This emotional dichotomy can result in some costly mistakes. So, how should you manage this tug-of-war and prepare for the process? Here are a few suggestions: 

  • Keep in mind that the bank will not lend more than the house’s appraisal, so be careful when pricing your home.  A real estate professional can give you the comparable pricing for homes in your neighborhood. This information will help you decide on a price that will hasten the sale of your home.  Too high a price can lead to many weeks on the market. In contrast, the recent market trend has shown that a lower price often results in a bidding war, which can lead to a much higher profit than you anticipated.  
  • Being too emotionally attached to your home can make it difficult to be objective when presented with an offer.  This can present problems when trying t to negotiate. Listen to your real estate professional. They have the market knowledge that you are paying them for.
  • Staging can make or break a deal.  While you might be proud of your décor, a buyer wants to see themselves living in your home, not you.  To help the prospective owner of your house see themselves living there, it is imperative to stage it. Declutter and take down personal images as much as possible. 
  • If you cannot afford a professional stager, your real estate agent will be a valued asset in helping to make your homen buyer ready.

Remember to breath.  This is just a process to take you to the next chapter of your life.  You have many professionals who are available to help you make this step easier and even enjoyable.  Good luck! 

Alternative Financing – Moving Beyond!

January 23, 2020

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In business for 3 decades and moving beyond! 

We are family owned & operated, offering alternative financing for real estate.  And with more than 100 years of combined experience, why not give us the opportunity to provide you with our excellent Hard Money services: 

  • Fast Funding Ability – many done in less than 5 days!
  • Unique Alt-A Hard Money – rates as low as 6%*!
  • We finance anywhere in California – single family, multi-family, condos and business properties.  Primary residences and investment real estate alike!

Call Today 707-523-2099 with any questions or scenarios. We will swiftly let you know how we can help! 

*APR for this rate based on a $200,000 first mortgage is 6.31%. 

Can’t Afford a Professional Stager for Your Home Sale?

January 15, 2020

Can’t Afford A Professional Stager For Your Home Sale

While we have all witnessed the dramatic transformations on HGTV when a home is put on the market, we are pretty sure the price is more than most of us can afford.  So, what can we do to make our listings as attractive as possible without breaking the bank? Here are a couple of tips that might help and save you money, too: 

  • Fluffy white towels:  Bathrooms are the second most important room and selling feature of your home (right after kitchens).  You can freshen up a tired bathroom with a six-pack of premium soft white hand towels for under $15.00 from Walmart (a good place to find staging props).  Roll them up and place them in an attractive basket or simply pile them up on the counter. In the master bath you might want to fold them by the tub to give a spa like feel.
  • Round Accent Mirror:  Mirrors always make a room look larger and they go with any style or age of the home.  Use them above an entryway or hallway table. They make a good filler for an empty wall.
  • Fake plants:  A simple plant, such as a fern, especially one that looks strikingly realistic, can draw a buyer’s attention to a certain area or piece that would otherwise go unnoticed.  Faux plants have come a long way these days. 
  • Flameless candles:  LED flameless pillar candles add a warm glow for less than $20 at Walmart.  Place them on a tray and use them on a coffee table or dining table.
  • Print arts:  A large art print creates a focal point.  Consider packing away all your personal photos a replacing them with a reasonably priced art print (again from Walmart or Pier 1).  If it is the right size for the space, it can add a sleek, modern feel to the room.
  • Colorful pillows:  Every room needs a splash of color and there is no more economical way to provide that touch than a pillow.  These can add a pop of color for under $15.

You can make your listing look like a professional staging job with just a little effort and minimal expense.  Take some tips from the many home shows on HGTV, become your own DIY decorator and very likely capture a higher sales price for your house!

 

Honored To Be A Family Business for 32 Years

January 14, 2020

32Nd Fireworks

And it is clear many Borrowers, referring Realtors, and Brokers are happy we are here too. See below for what they have to say! 

Now into our third decade as licensed Realtors, Lenders and Hard Money Brokers, we have become expert in the alternative financing known as Hard Money or Private Money loans – and we have never run out of money to lend! 

Repeat customers, referred customers, realtors, lenders and brokers, we are privileged to have clients who have been placing their trust in us for the past 30 years and more.  

It’s a trust we could never buy. It is a trust you can count on. 

If you need fast financing or the other lending institutions have turned you down for a real estate loan, give us a call… and let’s get you that money!

Over 3 Decades of Referring Realtors & Mortgage Brokers:

“I appreciate your underwriting efficiency, communication and ability to close within 5 days.  We will surely work together again in the near future.” D.M. – Broker

“What I liked most about working with you was your SPEED. My borrowers/clients were happily satisfied. You are our go-to for Owner Occupied hard money, so I definitely refer you to anyone!” – Bank Manager, E.G. 

“Thank you as well Broker! You have no idea how happy you made this client. Distressed situations are ever easy, but you really did make it as quick and easy as possible. (And this was not an easy transaction so THANK YOU!)  More to come!” – Lender, E.B.

“I have a couple of loans with Sun Pacific and they are doing well. I would recommend them to do business with. I have been a broker for 44 years here in Sonoma County.”
– S.G. Broker

Over 3 Decades of Happy Borrowers:

“Hard Money was the only financing that could help! Click to watch video (link it to this testimonial video: https://youtu.be/ltO_ZF0WJX4 .  

 “[Sun Pacific] team pulled through last minute for us to get us the loan we needed to save our house! From start to finish they made everything smooth and instructions were always clear and answered quickly. We are so grateful to have found them to help us during an otherwise stressful time. Highly recommend!!”  – Cassandra L.

“I was impressed by the tie of speed and service. You jumped on it and didn’t drag your feet like I’ve seen with other companies. The main reason for this loan was to pay off some accumulated unsecured debt. I wanted to get a fresh start…” – Borrower, R.R.

“I very much appreciated the speed of the whole loan process. I wanted a Hard Money loan to combine my existing 1st and 2nd and pay off a bathroom remodel. You are extremely competent – everyone I dealt with through your company up to and including the mobile notary. I really cannot think of anything that you could improve upon!” – Borrower, J.L.

INVESTORS AND “HARD MONEY” LOANS

August 1, 2011 No Comments

 

LENDER’S VIEWPOINT

By Owner

There was a really good article in the Wall Street Journal last week about Hard Money loans. It was informational to borrowers and investors alike. It spoke of the fact that Hard Money loans will account for 1% of the 5.5 million home loans originated this year, up sharply from prior years.

The Article features a Dallas attorney who has doing Hard Money loans as a “side business”.

He believes that originating home loans in the current environment, when many economists believe housing is at or near the bottom, is less risky than putting money in the “volatile stock market or opaque bond market.”

He states further “I can’t drive by and look at those stocks and bonds.” Plus, he says, investing in residential real estate earns “passive income that doesn’t require much work from me.”

The interest rate paid on these investments can be anywhere from 9% to 14% with 12% being fairly typical. They can be a first or second mortgage ranging in size from $30,000 to $1,000,000 or larger with a term of from 6 months to 7 years or more. These loans are secured by land, 1 to 4 unit residential, 5+ unit residential (deemed commercial), office buildings, strip centers, large commercial, etc.

The main qualification for a borrower is: 1. Equity or a good down payment and 2. Ability to repay the loan. If they do not make payments, they could forfeit the property that was the security for the loan to the investor.

Check out our website for further details.

Owner is a CA DRE Broker with over 23 years experience in real estate and lending. His number is (707) 523-2099. See website @ sunpacmortgage.com.

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