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Get a Head Start on the Holidays with Hard Money

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Mortgage Rates – Its How You View The Outcome

As you have seen, the housing market values are only going up.   Despite news about rates increasing, the interest rates are still within the range of 50 year lows!  The bottom in home prices and interest rates has passed. Waiting no longer makes sense.

I have saved the bacon for agents and conventional lenders on multiple transactions this year, closing many of them in a week.  I have also helped many, many individuals (and families) over the years consolidate their debts or get a loan against their existing equity for use over the Holidays.  It is always a nice feeling to have extra cash over the Holidays either to make it less stressful or to be able to give more.  If turned down elsewhere, I most likely can help if they have a decent down payment or other equity to work with.

Basically considered “all cash”, such loans are extra strong and can be used to purchase or refinance dump property, bad credit

borrower, irregular income borrower, large cash out borrower, Bridge loans, etc.

Some timely articles make good mention on the value of homeownership:

Fannie Mae “Homes have accounted for 23.5% of American’s wealth on average since 1959. That’s nearly double the proportion U.S. households and nonprofits have invested in stocks.”

Wall Street Journal “A measure of owners’ equity as a share of the value of real-estate holdings hit 53.6% in the second quarter, up from 53.2% in the first quarter and below 50% a year earlier. For most Americans, a home is their biggest asset, so the growing level of home equity suggests improvements in the economy are now reaching more Americans.”

If rents go up in the next 30 years at the same rate they did over the prior 30 years then someone renting today for $1,600 will be paying $4,496 in 30 years. Why rent when you could buy?

Don’t be 30 years older, paying an outrageous rent and no accumulated wealth because you paid your landlords mortgage for all that time.  An increase in rates will obviously impact each home owner’s monthly mortgage payment so if you wait, you will end up just having to pay more!

Whether you get a hard money loan to purchase your home now or you get a bank loan, it has the same outcome: Home ownership is not only desirable, it is the correct financial decision to make right now.

Best,

 Forest

Approval is based on just 2 criteria:

1. Good Down Payment or Decent Equity

2. Ability to Repay

• FAST private money purchase financing throughout California.

• Owner Occupied, Investor financing, Commercial and some Land Financing

• FICO is not a factor.

• Up to 75% loan to value, Case by case basis.

• Loan amounts starting at $100,000.

• Lower rates with Good Compensating Factors, Case by case basis.

• Fast refinancing.

SPECIAL NOTEWE CAN DO A LOAN FOR SOMEONE FRESH OUT OF FORECLOSURE, BANKRUPTCY OR SHORT SALE!

CALL FOREST, The Guy In The White Hat at (707) 523-2099

Or email him at forest@sunpacmortgage.com

See our website at: www.sunpacmortgage.com

       Hard Money Lender Serving Sonoma county since 1988!

800 Mendocino Ave. Ste 2
Santa Rosa, CA 95401
(707) 523-2099
www.sunpacmortgage.com

CA BRE Broker – California Bureau of Real Estate Broker.   Corporate License # 01464899.

NMLS – Nationwide Mortgage Licensing (Registry) System.  Office NMLS # 360993

Finding A Legitimate Broker Is The Only Way To Go

Facts and Figures Unarguable Regarding Homeownership

 

Just a few “facts & figures” why being a home owner is the right choice. So getting a hard money loan or conventional loan – it all ends with the same result. Homeownership is valuable.

 

For the past 26 years I’ve been in real estate and lending here in Sonoma County (licensed for entirety of California), home ownership has ebbed and flowed as to it’s apparent value.

 

However, The KCM Crew has hit the nail on the head again with it’s released quotes from various entities, all about home ownership and its true value.

 

Whether a hard money loan to purchase your home to then refinance down the road or a bank loan at the outset, it all adds up to actual value.

 

Don’t hesitate and wait for a better time.  The real estate and lending market are always changing but the one thing that doesn’t change: home ownership values!

 

Best, Forest – The Guy in the White Hat

Sun Pacific Mortgage & Real Estate

 

Homeownership: A Few Stats and Quotes

by The KCM Crew on September 29, 2014 in For Buyers

 

http://www.keepingcurrentmatters.com/2014/09/29/homeownership-a-few-stats-and-quotes/?utm_source=feedburner&utm_medium=email&utm_campaign=Blog_Promo

 

2014 American Express Spending & Saving Tracker

“About two-thirds (65%) of homeowners say they are confident they would get the asking price for their home if they were to put it on the market today (up from 40% in 2010).”

Financial Security Index Survey

“Eighty nine percent of Americans feel that buying a home is an important part of achieving the American Dream.”

“How America Views Homeownership” Survey

“Sixty eight percent of Americans feel that now is a good time to buy a home.”

Housing Confidence Index

“A two-thirds majority of renter households said that owning a home someday is a specific goal that they are determined to reach, or something that they think about a lot.”

Fannie Mae

“Homes have accounted for 23.5% of American’s wealth on average since 1959. That’s nearly double the proportion U.S. households and nonprofits have invested in stocks.”

Wall Street Journal

“A measure of owners’ equity as a share of the value of real-estate holdings hit 53.6% in the second quarter, up from 53.2% in the first quarter and below 50% a year earlier. For most Americans, a home is their biggest asset, so the growing level of home equity suggests improvements in the economy are now reaching more Americans.”

Hard Money Loans Rescue Home Buyers & Home Owners

 

Hard Money Loans Rescue

Home Buyers & Home Owners

Hello again!

 

I always like to push the idea of home ownership.  It is still the best financial investment you can make at any time in

your life, so don’t give up if you are trying to buy!

 

In recent Trulia and Keeping Current Matters articles, the subject of Renting versus Buying was brought up; These articles pretty well covered why homeownership remains more economical than renting, throughout the United States. Nationwide, owning is 38% cheaper than renting! 

 

With a Hard Money loan from us, a family was rescued on their home purchase which they were about to lose out on:

 

The Purchase price of the new home was $234,000. They put down 30% of the purchase price ($70,200) and got a hard money loan of 70% LTV ($163,800).  While working to refinance, the Buyers paid 10.5% interest rate for six months ($1,719 monthly) and finally were able to qualify for a conventional loan.  They now pay $1,300 with taxes & insurance included. Their old apartment rent was $1,200 – just $100 less but now they live in their own home!

 

When your Lender, Broker or Realtor tell you “it is the time to buy”, they speak the truth. 

Best,

Forest

P.S. – We love referrals! 

RECENTLY FUNDED HARD MONEY LOANS

(Great Hard Money rates as low as 8.5%*!)

NOTE: Get a loan despite poor credit, self employed-difficult to prove income, need fast financing, property a fixer, etc!  And, we finance Bridge loans, Owner Occupied purchases and refinances, non-owner purchases single and multiple units, commercial and some land. 

Approval is based on just 2 criteria:

 1. Good Down Payment or Decent Equity    

2. Ability to Repay

• FAST private money purchase financing throughout California.

• Owner Occupied, Investor financing, Commercial and some Land financing.

• FICO is not a factor.

• Up to 80% loan-to-value, case by case basis.

• Loan amounts starting at $100,000.

• Lower rates with Good Compensating Factors, case by case basis.

• Fast refinancing. 

SPECIAL NOTE: We can do a loan for someone fresh out of foreclosure, bankruptcy, or short sale!

CALL FOREST, The Guy In The White Hat at

(707) 523-2099

Or email him at forest@sunpacmortgage.com

See our website at: www.sunpacmortgage.com

       Hard Money Lender Serving Sonoma county since 1988!

800 Mendocino Ave. Ste 2

Santa Rosa, CA 95401

(707) 523-2099
www.sunpacmortgage.com

CA BRE Broker – California Bureau of Real Estate Broker.   Corporate License # 01464899.

NMLS – Nationwide Mortgage Licensing (Registry) System.  Office NMLS # 360993

 

 

Private Mortgage Investing Is Ripe – Especially With Us!

What a great time to be a Hard Money Investor, property values are just continuing to go up. Since 2012 private money loan borrowers has only been increasing as it’s the only game in town after B of A and Wells Fargo tell the Borrower “no”. Borrowers who have poor credit or difficult-to-prove income due to being self employed but have a decent down payment or existing equity know that they can most likely get a loan from us, despite being turned down elsewhere.

Anyone with money can invest and become a Private Mortgage Investor. It’s easier than you would think.

As the Broker of Sun Pacific Mortgage & Real Estate, I have dealt with Private Investors for over 25 years and we have become known for our integrity and honesty. Numerous friendships have been formed not only with Investors but with our Borrowers, due to the smoothness and honesty of service to both.

Becoming a Private Investor can earn you upwards of 13% in return by investing in mortgages. And by investing in real estate mortgages your investment is secured. Investing in mortgages isn’t only buying or selling of mortgages at a discount. It includes directly lending your hard money to individuals and securing that loan with a mortgage against their real estate.

I promote purchase loans as well as refinance loans and these can be at any LTV up to 75%. Right now the predominant offerings are purchase loans with 30% down. These loans should be made as the security is at its lowest valuation in years and the Buyer is putting 30% down. With that down payment, there is plenty of protective equity. Further, with that down payment the homeowner is not likely to walk away from the property.

As a Private Investor you can set the yield on the promissory note with the interest rate, points and prepayment penalties. Many individuals have started or are continuing as a Private Mortgager Investor as they can secure a consistent monthly income from it. It can be an excellent cash flow for someone retired or looking to set up their retirement funds.

For example, a private investment recently done for an individual to buy a home came to $196,000 with a rate of 12% and the Investor gets a monthly return of $1,960. Homeowner is very happy and intends to refinance down the line for lower rate but gets the home they’ve been searching for!

A Private Mortgage Investor is also known as:

  1. Private Mortgage Lender
  2. Hard Money Investor
  3. Hard Money Lender

 

These are all private individuals lending their money directly to the borrower with a promissory note with interest rates, points and prepayment penalties the investor sets, and securing that promissory note with a real estate mortgage.

Private Mortgage Investing is ripe. Time to jump on the bandwagon with Sun Pacific Mortgage & Real Estate and get a good taste!

If you are interested in investing with us then Call Our Office at (707) 523-2099 and ask to speak to me, FOREST – The Guy in the White Hat!

 

It Pays To Buy VS Rent

The recent KCM article “Don’t Get Caught in the ‘Renter’s Trap’ might surprise hopeful home buyers. http://www.keepingcurrentmatters.com/2014/08/27/dont-get-caught-in-the-renters-trap/  Written by The KCM Crew on August 27, 2014

“If you are currently renting you could get caught up in a cycle where increasing rents continue to make it impossible for you to save for a necessary down payment. ZillowChief Economist Dr. Stan Humphries explains:

“The affordability of for-sale homes remains strong, which is encouraging for those buyers that can save for a down payment and capitalize on low mortgage interest rates… As rents keep rising, along with interest rates and home values, saving for a down payment and attaining homeownership becomes that much more difficult for millions of current renters.”

Zillow Source: http://www.zillow.com/research/rental-affordability-job-growth-9322/

Don’t miss out on buying now because you think you aren’t qualified for a home loan.

Find a good local Lender and start yourself on the road to getting pre-qualified for a home loan.
The above blog lays it out pretty clearly.

I like to help spread the truth that there are more loan options for hopeful home buyers and it starts with finding a good local lender to take the first step and ask the question, “Am I qualified?”.

And some who aren’t qualified immediately could in the near future so a private money loan could be the option to get you out of a rental now, improve your credit or loan qualification situation, and then refinance in the near future.  You’d be surprised how many don’t realize how cost effective it really is – in the long run.

 

 

Lynn Tardibuono is Co-Owner/Hard Money Loan Originator & Realtor® of Sun Pacific Mortgage and Real Estate, family owned and run since 1988 in Northern CA. P.S. We love referrals!www.sunpacmortgage.com.  BRE license #01464899/NMLS #360993

Hard Money Rescues Turned Down Loans

Check out our most recent Hard Money video here:

 

Hard Money Rescues Turned Down Loans

 

If you feel like your loan application is drowning, soon to “die” by getting
turned down, then you need to watch this video of how I can rescue such a loan.

Real Estate loans can be hard to get for some with poorer credit, who are self
employed, had a recent foreclosure or bankruptcy. Or, you may just need a fast
loan and can’t find an “A” paper Lender who can fund fast.

This sounds like your loan request needs to be rescued, so call me, Forest – The
Guy in the White Hat! (707) 523-2099.

I can help with those drowning loans! For well over 25 years I have been
specializing in loans to Borrowers who have been “Turned Down Elsewhere” as well
as offering all other types of loans. For the last 4 or 5 years I have only
done Hard Money Loans. Recently, about 70% of the loans I have funded I had to
rescue from “A” paper lenders as they were declined for whatever reason.

There are really just 2 requirements for a Hard Money Loan: #1 You have to have
a pretty good down payment for a purchase or equity if a refinance and #2 The
ability to repay the loan.

Call me! Hope to be able to help you soon!

 

Best,

Forest

P.S. – We love referrals!

 

Loan approval is based on just 2 criteria:

1. Good Down Payment or Decent Equity

2. Ability to Repay

 

• Owner Occupied, Investor financing, Commercial and some Land Financing

• FAST private money purchase financing Sonoma County & Northern California.
• FICO is not a factor.
• Up to 80% loan to value, Case by case basis.
• Loan amounts from $75k – $1mil+
• Lower rates with Good Compensating Factors, Case by case basis.
• Fast refinancing.

CALL FOREST, The Guy In The White Hat at (707) 523-2099;

Or email him at forest@sunpacmortgage.com

See our website at: www.sunpacmortgage.com

 

CA BRE Broker – California Bureau of Real Estate Broker.   Corporate License # 01464899.

NMLS – Nationwide Mortgage Licensing (Registry) System.  Office NMLS # 360993

*APR based on loan amount of $130,000 is 9.469%.

Hard Money Loan Saver

Check out our most recent Hard Money video here:

 

Hard Money More Attractive than Ever

 

Hello,

My last blog was the Federal and California report and forecast.

I live and operate in Sonoma County so that is the first region I’ll explore.  I would guess that about 33% of the loans I write are in Sonoma County.  That’s a disproportionate amount considering I lend in the top half of the state, from Salinas to the Oregon border and east to Nevada.

Lots of good news to report for Sonoma County. There was an Economic Development Board report in April 2014 that demonstrated Sonoma County business activity beats the U.S. average as a whole in expenditures for growth and customer demand. The trend is upward for commercial-sector confidence.

Another report from March 18, 2014 stated that Sonoma County’s economy is poised to further recover through 2015, bolstered by national growth that will spur gains in tourism and the wine industry, while additional support comes from, among other things, a stronger housing market.

In the Sonoma County real estate market, as in a lot of the counties in the Bay area,  prices are being driven up sharply by the lack of inventory.  This is good news if you are already into a home, but could make it difficult if you are looking to buy, either as your first purchase or trading up.  You should keep in mind that using Hard Money in this market may make your offer more attractive to a Seller – and their agent, as in many instances it is deemed the same as cash.

So that’s the report on Sonoma County.   And if you are trying to buy, persist.  Home ownership is still the best financial investment you can make at any time in your life.

 

Best,

Forest

P.S. – We love referrals!

 

Loan approval is based on just 2 criteria:

1. Good Down Payment or Decent Equity

2. Ability to Repay

 

• Owner Occupied, Investor financing, Commercial and some Land Financing

• FAST private money purchase financing Sonoma County & Northern California.
• FICO is not a factor.
• Up to 80% loan to value, Case by case basis.
• Loan amounts from $75k – $1mil+
• Lower rates with Good Compensating Factors, Case by case basis.
• Fast refinancing.

CALL FOREST, The Guy In The White Hat at (707) 523-2099;

Or email him at forest@sunpacmortgage.com

See our website at: www.sunpacmortgage.com

 

CA BRE Broker – California Bureau of Real Estate Broker.   Corporate License # 01464899.

NMLS – Nationwide Mortgage Licensing (Registry) System.  Office NMLS # 360993

*APR based on loan amount of $130,000 is 9.469%.

5 Reasons to Hire a Real Estate Professional

I saw this article from The KCM Blog and rang very true: 5 Reasons to Hire a Real Estate Professional
http://www.keepingcurrentmatters.com/2013/10/02/5-reasons-to-hire-a-real-estate-professional/

“The real estate market is a place where most people will make their largest investment ever. It is a place where fortunes can be, and often are, made. It is not a place, however, for you to ‘wing it’.

“While the myriad TV shows about real estate make the process look so simple – it’s not really that simple… they make it seem like all you need to do is slap a for sale by owner sign in the yard, have one open house with fresh flowers and fresh baked cookies and bam! SOLD! in one day….

“You need a professional, full time, well educated, ethical and trustworthy REALTOR to represent you whether buying or selling real estate.”

5-Reasons to hire a RE Pro Image

In my 26 years working in Real Estate I can tell you that you’re better off hiring a Real Estate Pro. I know from first-hand experience the amount of paper work and negotiations you need to do to own a home is sometimes overwhelming to a Home Buyer. And beyond paperwork, there is the experience of being a RE Pro that you will want on your side.

I’m sharing this article with you in hopes to assist in your home buying experience. I’ve seen people try to go about buying a house without an Agent and usually it winds up in heart ache.

Best,
Lynn

Lynn Tardibuono is Co-Owner/ Realtor® and Flipper Chick of Sun Pacific Mortgage and Real Estate, family owned and run since 1988 in Northern CA. www.sunpacmortgage.com. BRE license #01464899

2014 is the Year of Hard Money Loans

 

2014 is the Year of Hard Money Loans from The Guy in the White Hat

Hello,

Preview of coming attractions!  I will have a future, more exact  Blog on the recent changes to Hard Money lending – High Cost loans.  For now, I have taken all in stride and will continue to promote Hard Money loans that fully conform to all the changes. 

Most of the changes impact Owner Occupied loans and none are horrible.  Some key things that will be different in my Owner Occupied Program…  1.  All Borrowers have to do Credit Counseling through an approved agency before the loan can fund.  2.  The loans cannot have balloon payments.  I propose a 15 year that is interest only for the first 7 years and fully amortizes over the remaining 8 years.  3.  They cannot have prepayment penalties.  4.  Late fee maximum is 4% after 15 days.

I’ve listed below recent Hard Money loans financed through my office and hope these give you a better idea as to how I can help you and/or your clients. I will keep the loans coming!

Best,

Forest

RECENTLY FUNDED HARD MONEY LOANS

Great Private Money Rates as low as 8.5%*!

Guerneville, California 
Loan Type: 2nd Non-Owner Cash-Out
Loan Amount: $96,000
Days to fund: 6 days!
Reason for hard money loan: Multiple Properties Owned

Santa Rosa, California 
Loan Type: Bridge Loan (1st & 2nd) 
Loan Amount: $464,000 & $85,000
Days to fund: 14 days!
Reason for hard money loan: Self Employed

Sonoma, California
Loan Type: 2nd Home
Loan Amount: $110,000
Days to fund: 15 days
Reason for hard money loan: Needed Fast Financing

Vallejo, California 
Loan Type: Owner Occupied Cash-Out Refinance
Loan Amount: $140,000
Days to fund: 13 days!
Reason for hard money loan: Condition of property

Cloverdale, California 
Loan Type: Owner Occupied Purchase
Loan Amount: $503,200
Days to fund: 15 days
Reason for hard money loan: Poor Credit

Ukiah, California 
Loan Type: Owner Occupied Purchase
Loan Amount: $112,500
Days to fund: 17 days
Reason for hard money loan: Poor credit
South Lake Tahoe, California
Loan Type: Non-Owner Purchase
Loan Amount: $200,000
Days to fund: 20 days
Reason for hard money loan: Self Employed

El Cerrito, California 
Loan Type: Owner Occupied Purchase
Loan Amount: $418,000
Days to fund: 14 days!
Reason for hard money loan: Condition of property

Loan approval is based on just 2 criteria:

 1. Good Down Payment or Decent Equity    

2. Ability to Repay

•Owner Occupied, Investor financing, Commercial and some Land financing.

•FAST private money purchase financing Sonoma County & Northern CA
•FICO is not a factor.
•Up to 80% loan-to-value – Case by case basis.
•Loan amounts from $75,000 – $1mil+.
•Lower rates with Good Compensating Factors – Case by case basis.
•Fast refinancing. 

SPECIAL NOTE: WE CAN DO A LOAN FOR SOMEONE FRESH OUT OF FORECLOSURE, BANKRUPTCY OR SHORT SALE!

CALL FOREST – The Guy In The White Hat – at (707) 523-2099;

Or email him at forest@sunpacmortgage.com

See our website at: www.sunpacmortgage.com

       Hard Money Lender Serving Sonoma county since 1988!

800 Mendocino Ave. Ste 2

Santa Rosa, CA 95401

(707) 523-2099

www.sunpacmortgage.com

*APR based on loan amount of $130,000 is 9.469%.

CA BRE Broker – California Department of Real Estate Broker.   Corporate License # 01464899.

NMLS – Nationwide Mortgage Licensing (Registry) System.  Office NMLS # 360993

 

 

“HARD MONEY” OR “PRIVATE MONEY” LOAN REVISITED

“HARD MONEY” OR “PRIVATE MONEY” LOAN REVISITED

By Broker, Forest Tardibuono

There are several types of loans you can use to purchase or refinance. This applies whether you are buying a home to live in, a home to rent out, or a commercial building. They include the standard 30 year fixed rate mortgage, the government FHA/VA loans, a commercial property SBA loan, or a Private Money loan.

Private Money is borrowed from private individuals. I bet you’ve borrowed money from a relative. That was a Private Money loan, likely unsecured. It wasn’t from the bank or some other institution. Most private money lenders/investors lend money through a mortgage company (there are laws that require this). The rates and fees are higher than those you’d get from a bank or credit union that does 30 fixed rate mortgages.

Why then would anyone borrow Private Money? There are lots of reasons.

You can get a Private Money loan in spite of a foreclosure, bankruptcy or short sale! I thought to make the above sentence read like a headline, because it should. No bank or credit union or anyone doing home loans other than Private Money will lend to someone who had a recent bankruptcy, foreclosure or short sale. Further, the property you want to borrow against may not be something a bank will lend on. Banks require a property be in good shape. What if you are looking for speed? Private Money loans are generally much faster than a bank loan. What if your credit isn’t bank worthy?

That’s because Private Money loans are based largely on equity. The most you will get is 70% of the value of the property. If it’s worth $300,000.00 you will be able to get $210,000.00. If you want a 100% loan, Private Money will not work.

Here is an example of a Private Money Loan. The Buyer had almost all of the money to purchase a house. She needed only $75,000.00 more – but didn’t qualify for a bank loan. The purchase price was $231,000.00. She only wanted to borrower 32% of the value. That loan got done within 4 days for a quick close. She beat out other’s that put in offers for the house. She could and did quickly close and her house payment is the payment on $75,000.00.

Another example. A contractor wanted to buy a dumpy house. No bank would lend on it because it was so dilapidated. The contractor had enough for a decent down payment and proved he had enough to money fix it up and then resell. He got a Private Money loan and was able to fix up the house and pay off the loan within 4 months.

Maybe you need a Private Money Loan!

Forest Tardibuono 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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