The question on everyone’s mind is: “What is going to happen to the housing market in the second half of this year?”  After examining unemployment, real estate, and the economic climate, the experts are taking a second look at their previous forecasts.

Joel Kan, Associate Vice President of Economic and Industry Forecasting, Mortgage Bankers Association

“The recovery in housing is happening faster than expected.  We anticipated a drop off in Q3.  But, we don’t think that’s the case anymore.  We revised our Q3 numbers higher.  We predicted a 2% decline in purchase originations in 2020, now we think there will be a 2% growth this year.”

Lawrence Yun, Chief Economist, National Association of Realtors

“Sales completed in May reflect contract signings in March and April-during the strictest times of the pandemic lock down and hence the cyclical low point…Home sales will surely rise in the upcoming months with the economy reopening, and could even surpass one-year-ago figures in the second half of the year.”

George Ratiu, Senior Economist, realtor.com

“We can project that the next few months will see a slow-yet-steady improvement in new inventory…we projected a stepped improvement for the May through August months, followed by a return to historical trend for the September through December time frame.”

In summary, the economists and real estate experts are optimistic about the second half of the year.  And this applies to California!  So, if you were hesitant about pursuing your real estate plans earlier this Spring, you might want to start the ball rolling now that the California real estate market is showing signs of renewed life.  Counties like Sonoma, Marin, San Francisco, Los Angeles and even Santa Barbara are increasing their mortgage requests – showing that Home buyers are moving out in bigger quantities.

If you need help with securing a home loan and have been turned down by other mortgage agencies, give Sun Pacific Mortgage a call at 707-523-2099 to discover what solutions exist for your specific qualifying problem.  We have been in the hard money lending business for over 32 years with a great track record for helping our clients obtain alternative financing for their real estate investments, both owner-occupied and non-owner-occupied.

We Make Loan Approvals SIMPLE

Are you looking for a faster, smoother and less-regulated loan approval process?

With our Hard Money programs, we can help those turned down elsewhere, those just looking to speed up a refinance or even just get a fast mortgage.

Call us at 707-523-2099 or reply here with any questions. We hope to be able to help, as we did for the Broker and his client below.

Loan of the Week

A Mortgage Broker from Southern California referred his client to us who wanted to invest in a San Diego business but was having issues proving he made enough income.

The client and his wife just wanted to access the equity in their primary residence to pull out some cash for their business.  They needed 488K which would still present a decent 63% loan to value.  Within 20 days we were able to provide them with this financing they needed, and they couldn’t have been happier!

Sun Pacific Mortgage is known for our fast loans and integrity in dealing with our brokers and clients, which is a reason we have been in this lending industry for over 32 years.

We are available to help at 707-523-2099 or with an email reply.

Sick of being turned away for home loan assistance? Let us help with our alternative financing programs.

Our Hard Money mortgages are backed by real estate equity.  If you have good existing equity OR have a decent down payment then we can help you with a home purchase, maybe do a refinance for debt consolidation, get you additional cash for upgrades or that needed business capital, etc.

Call Today 707-523-2099 with any questions. We will quickly let you know what help we can provide you, a friend or family member!

Others Recently Helped by Us

Loan Type:  Primary Property Refinance
Loan Size:  $560,000
Location:  Concord, Contra Costa County
Days to Fund:  15
Why Needed Us: To pay off medical expenses and other debts.

Loan Type:  Primary Residence Refinance
Loan Size:  $320,000
Location:  South Gate, Los Angeles County
Days to Fund:  20
Why Needed Us:  Debt Consolidation.

Loan Type:  Investment Property Refinance
Loan Size:  $276,800
Location:  Seaside, Monterey County
Days to Fund:  21
Why Needed Us: Condition of property wasn’t good enough, looking to flip.

Loan Program:  Investment Property Refinance
Loan Size:  $750,000
Location:  Los Angeles, Los Angeles County
Days to Fund:  9
Why Needed Us:  Wanted fast capital for a business investment.

If you’re getting turned down elsewhere for a mortgage, give us a chance to help using our Hard Money loans. Despite increased lending regulations elsewhere, we have the same rates, same LTVs and same “faster than conventional funding” speed, as we did before!

Let us be your new beginning to purchase a home, a new investment or even to refinance for additional cash out to get you caught up after these recent tough times – like we were able to do for a past borrower, below.

Loan of the Week

One of our past borrowers reached out to us from Truckee, California requesting a loan for $560,000 so he could purchase an investment property.

He was looking to refinance his primary residence to invest in this venture but was being turned down by his conventional lender due to a difficulty to prove his income.

He had more than 50% existing equity in his primary residence and had really good credit, so we had no issue with getting him a mortgage!  In less than 3 weeks he had the funds he needed to purchase that property.

If you or someone you know is looking to use their existing equity to make debt consolidations, upgrade their home or purchase additional property – and is being turned down elsewhere – give us a call at 707-523-2099. We’ll let you know quickly how we can help!