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California’s State of the Real Estate Market

March 20, 2018

Image1 2 The California Association Of Realtors (Car) Recently Published A Report On “The State Of The Real Estate Market”.  Some Of The More Interesting Facts Included The Following:

The California Association of Realtors (CAR) recently published a report on “The State of the Real Estate Market”.  Some of the more interesting facts included the following:

  • Price per square foot was $257, down 3.3% from December, but up 5.9% YTD
  • Inventory at the lowest level since June 2004 with supply constraints crossing all price ranges (no surprise there!)
  • Home prices started picking up in the second half of 2017
  • California median home prices continued to grow at a fast pace with January 2018 median home price at $547,800, representing an increase of +7.3% over the same period last year.

What does 2018 hold for real estate in California?  All signs point to a continued healthy market with inventory a persistent problem.  In some cases, the issues that arise from this stumbling block can be mitigated by a bridge loan.  In this instance, if a buyer finds the home of his/her dreams, but hasn’t yet listed their own home, our bridge loan program can provide the temporary funds necessary to secure the new home before selling their existing property.  When their property sells, they can pay off the bridge loan and live happily ever after in their new home.

If you or someone you know needs help getting into the market or is looking to refinance their property, Sun Pacific Mortgage is here to assist with our Hard Money loan programs.

We have found financing for many who have been turned down elsewhere.  Give us a call!

Are You Ready For Spring?

March 13, 2018

Image1 Historically, The Top Months For Sellers To List Their Homes Has Been April, May Or June.  Even Though We Find Ourselves In A “Sellers’ Market”, These Months Remain More Appealing Simply Because They Might Allow For A Closing That Coincides With The School Year. If You Are Considering Taking Advantage Of The 2018 “Real Estate Season”, It Is Time To Examine Your Best Mortgage Options And Prepare For The Unexpected.

Historically, the top months for Sellers to list their homes has been April, May or June.  Even though we find ourselves in a “Sellers’ Market”, these months remain more appealing simply because they might allow for a closing that coincides with the school year. If you are considering taking advantage of the 2018 “real estate season”, it is time to examine your best mortgage options and prepare for the unexpected.

One of the unexpected obstacles some buyers face is they find their dream home before selling their present one.  But, fear not, a Bridge Loan can rescue you from this dilemma!

Bridge Loans are preferred over a contingency offer, especially in a hot real estate market.  With a Bridge Loan the buyer can make a clean offer assuring the seller he has a firm commitment to the deal.  Bridge Loans are short term loans, usually of 12 months duration. This type of loan generally gets paid off with longer term financing from the sale of the existing property.  As the nomenclature implies, it provides a “bridge” from one transaction to the next.

At Sun Pacific Mortgage we have funded many of these loans and often saved transactions from the “dead deal” pile.  Give us a call at 707-523-2099 to explore the many ways we might assist you with your next real estate opportunity.

Hard Money – The Short Story

March 7, 2018

Fk What Is Hard Money? A Category Of Real Estate Loan Program, Usually Short Term, Fast And Used To Handle Whatever The Problem Was In The Profile Of The Borrower Or Property. The Problems Could Be Credit, Income, The Property Itself And/Or Simply The Need For Speed.

What is hard money? A category of real estate loan program, usually short term, fast and used to handle whatever the problem was in the profile of the Borrower or property. The problems could be credit, income, the property itself and/or simply the need for speed.

Hard Money is not money from a bank. The funds are from individuals that lend to make way more interest than they would otherwise. We have over 450 “investors” with money to lend.

Investors are mostly interested in the equity in the property which serves as the security for the loan. Most do not care about the credit score or how the borrower makes income.
Therefore the 2 qualifications for a Hard Money loan are….

1. Equity or decent down payment.

2. Ability to repay the loan.
Jpeg 1 What Is Hard Money? A Category Of Real Estate Loan Program, Usually Short Term, Fast And Used To Handle Whatever The Problem Was In The Profile Of The Borrower Or Property. The Problems Could Be Credit, Income, The Property Itself And/Or Simply The Need For Speed.

 

Why Hard Money? – SPEED…… We did a loan for a couple who purchased right after the fires in October 2017. Their house burned down and they wanted to move quickly as they were displaced. Their credit was perfect, excellent incomes and a large down payment but did not want to wait to get a bank loan.

They also knew that an offer with a short escrow would be more attractive to a seller. Their Realtor offered a fair price and a 9-day close. This offer was chosen out of the many that were received!

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

We Fund BIG Loans!

March 1, 2018

Jpeg Here At Sun Pacific Mortgage, We Offer Hard Money Financing For Jumbo Size Loans And Larger.  We Have Qualifications That Are More Forgiving Than Conventional And Traditional Loan Programs.

Here at Sun Pacific Mortgage, we offer Hard Money financing for Jumbo size loans and larger.  We have qualifications that are more forgiving than conventional and traditional loan programs.

Recently Funded Hard Money Jumbo Loan

$770,000 – Redwood City in San Mateo County

68% Loan to value

16 days to close

Our type of financing programs is the answer for those who need fast financing, have irregular income, property condition is poor so does not qualify for regular financing or have tarnished credit.  These are not issues with us!

We have seen it all, having been in business for 30 years now.  We can usually make the seemingly impossible, possible!

Call Us today at 707-523-2099 and see how we can help you or a client.

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

We Fund Them BIG

February 22, 2018

Promo4Guyshat2 Only Two Main Qualifications For Our Hard Money Loans:

Only two main qualifications for our Hard Money Loans:

1. Equity or a decent down payment.

2. An ability to repay the loan.

 

RECENTLY FUNDED BY US

NOTE: We can finance up to 75% Loan to Value, case by case basis.

Single Family Houses, Condos, Principal Residences

$700,000 – Sonoma in Sonoma County, California
Non-Owner 2nd
3 Years Interest Only
8 days to Fund!

$1,050,000 – San Juan Capistrano in Orange County, California
Owner Occupied Temporary
12 Months Interest Only
15 Days to Fund!

$462,000 – San Leandro in Alameda County, California
Owner Occupied Business Purpose Refinance
12 Months Interest Only
9 Days to Fund!

 

Multi-Family Units, Commerical, Office & Land

$540,000 – Petaluma in Sonoma County, California
Non-Owner Purchase
2 Year Interest Only
17 Days to Fund!

$878,000 – Orange in Santa Ana County, California
Non-Owner Refinance
12 Months Interest Only
12 Days to Fund!

$780,000 – Pomona in San Bernardino County, California
Non-Owner Refinance
12 Months Interest Only
22 Days to Fund

 

Big Loan Funded Fast *WE LIKE BIG*

February 8, 2018

Image3 A Realtor Called With A Property Refinance In Santa Clara That He Needed Help On:  His Home Buyer Needed A $770K First Mortgage For 2 Years - And He Needed It Real Quick As Escrow Was Supposed To Close Soon On His Purchase Of A Multi-Family Property.

A Realtor called with a property refinance in Santa Clara that he needed help on:  His Home Buyer needed a $770k first mortgage for 2 years – and he needed it real quick as Escrow was supposed to close soon on his purchase of a multi-family property.

The phone call came in on January 3rd and by January 22nd the Home Buyer was a new Home Owner with keys in hand!

We work with many loan Brokers and Realtors, in addition to directly with Borrowers.  Hard Money loans have speed and agility.  In this type of market, with multiple offers, our Hard Money Programs can be quite beneficial.

Email us back or call today (707) 523-2099 with any questions or scenarios.

We Like BIG Loans

January 31, 2018

Jpeg A Long-Time Lender Reached Out To Us As He Had A Borrower Who Needed A Fast Loan, By Month’s End, Which Was Less Than 2 Weeks Away.   We Knew We Could Get This Big Loan Funded With Our Hard Money.

Fast Santa Rosa, Sonoma County
Loan of the Month

A long-time Lender reached out to us as he had a borrower who needed a fast loan, by month’s end, which was less than 2 weeks away.   We knew we could get this Big Loan funded with our Hard Money.

This Borrower was looking for a Super Jumbo Loan of $700k, using his business property in Santa Rosa as collateral.  He needed some capital for an important investment and decided to use the large amount of equity in his real estate to get a loan.  But he had a short amount of time to accomplish this and that’s where we came in!

Within 8 days we had an appreciative Broker with a very happy Borrower.

Call us at 707-523-2099 and find out how we can help you, a friend or Home Buyer/Home Seller with our Hard Money Loans!

Recently Funded – Make Your New Year Awesome!

January 18, 2018

Img 5A60Dfb0D145F Make Your New Year Awesome!

Make Your New Year Awesome!

Img 5A60Dfbd4B26A Make Your New Year Awesome!

“You really helped us out. Our deal was complicated, but Broker at Sun Pacific was able to hit all the moving targets. Several times I called him with questions and he took the time to go over all the details with me. The whole transaction was much better than our usual experience.” Borrower, Tim R.

We have just 2 main qualifications for our hard money loans:


● Decent existing equity or at least 25% down payment.

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


We are here to help you make this year awesome!  Call us today at 707-523-2099.


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

Recently Funded By Us:

Img 5A60Dfd623B6C Make Your New Year Awesome!

 

Img 5A60Dfe2E1D09 Make Your New Year Awesome!

Img 5A60Dff1426D7 Make Your New Year Awesome!

Img 5A60Dfff8F4Be Make Your New Year Awesome!

Celebrating 30 Years in Business!

January 11, 2018

Anniversary Your Hard Money Lender Serving The Bay Area And All Of California Since 1988. We Are Proud To Have Helped Thousands Of Home Buyers, Real Estate Agents, And Other Lenders With Our Loan Programs!

Congratulations To Sun Pacific Mortgage For 30 Years in Business!

Your Hard Money Lender serving the Bay Area and all of California since 1988. We are proud to have helped thousands of Home Buyers, Real Estate Agents, and other Lenders with our loan programs!

Call us at 707-523-2099 and find out how we can help you, your Home Buyer or Home Seller.

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