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Tired of Being Turned Down? Loan Help Here.

June 18, 2020

June Art 1

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.

Second Half of 2020 Real Estate Market Looking Good

June 16, 2020

Second Half Of 2020 Real Estate Market Looking Good

Take a breath!  There’s good news ahead.  According to many economists we are going to start to see an economic rebound in the second half of this year.  Here’s a look at what some of the experts are saying:

Jerome Powell, Federal Reserve Chairman:

“I think there’s a good chance that there’ll be positive growth in the third quarter.  And I think it’s a reasonable expectation that there’ll be growth in the second half of the year…”

Nonpartisan Analysis for the U.S. Congress:

“The labor market is projected to materially improve after the third quarter; hiring will rebound, and job losses will drop significantly as the degree of social distancing diminishes.”

These experts and many more believe that while we are certainly not out of the woods yet, there is light at the end of the tunnel.  They also agree it will be a bumpy ride for the next few months, but the good news is that they also agree the turnaround will begin sooner rather than later.

Buyers and sellers may have put their real estate and mortgage plans on hold during this planned shutdown.  However, as signs have started to pop up, the market is picking back up sooner than later!  The past two weeks in Sonoma County alone, there have been over 80 new homes put on the market for sale and both realtor and lender alike are busy with new home buyers.

If you’ve thought about selling or buying anywhere in California, now is the time to get going as it’ll just get busier and busier.

Turned Down Elsewhere For A Mortgage?

June 11, 2020

Hard Money New Beginning

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!

Spring Real Estate Boom Has Shifted to Summer

June 9, 2020

Spring Real Estate Boom Has Shifted To Summer

With the stay-at-home order gradually lifting, what was once the boom in real estate during the spring, is just now showing signs of life again as we enter summer.

To quote Joel Kan, Economist at The Mortgage Bankers Association:

“Applications for home purchases continue to recover from April’s sizable drop and have now increased for five consecutive weeks.”

Google Trends reports that online searches for “real estate” have increased from 68 points the week of March 15th to 92 points last week.  It appears that more potential buyers are looking for homes virtually.  The market is definitely not dead according to these statistics!

Finding a home to buy in Sonoma County or any of the surrounding counties such as Napa and Marin, remains a problem however, since spring sellers removed many listings from the market.  Although more people are putting their houses up for sale this month as compared to last month, inventory is still below last year’s level.

The message here is if you are thinking of selling your home anywhere in the North Bay areas of Sonoma, Marin, San Francisco or Sonoma County during the summer, now may be your best opportunity!  With so little competition this will allow your home to stand out in the crowd.  Home buyers are looking and with all the safety regulations being followed in these North Bay counties, you can confidently begin to show your home to prospective home seekers.

If you need to finance your purchase this summer, but do not qualify for a conventional loan or just are looking for a faster & stronger offer to beat out other home buyers, give Sun Pacific Mortgage a call at 707-523-2099.  We specialize in “non-QM” (non-qualified mortgage) type financing, also known as Hard Money loans.  Borrowers who have a blemish on their credit report or have difficulty proving their income due to being self employed, etc. can still get financing from our home mortgage programs.

Recently Funded – CovidBusters Are Us

June 4, 2020

Covid 19

No Mortgage Covid-19 Regulations Here!

We want to let you know that our loan programs are not affected by any of the new regulations implemented for traditional and conventional mortgage programs.

No need to stress if you have a lack of resources for your financial needs.  Let us be your “covidbusters” and use our Hard Money programs to help!

Call Today 707-523-2099 with any questions or specific scenarios. We can quickly let you know what we can do for you, a friend or even your client.

Scenarios Recently Financed By Us

Location:  Brokertfield, Marin County
Finance Program:  Primary Residence Refinance
Loan Size:  $860,000
Days to Close:  13
Reason Came To Us:  To settle a balloon payment that was coming due.

Location:  Escondido, San Diego County
Finance Program:  Investment Property Refinance
Loan Size:  $500,000
Days to Close:  23
Reason Came To Us:  Wanted to pay for property upgrades.

Location:  SFO, San Francisco County
Finance Program:  Commercial Property Purchase
Loan Size:  $702,000
Days to Close:  30
Reason Came To Us: Investment purchase

Location:  Camarillo, Ventura County
Finance Program:  Primary Residence Refinance
Loan Size:  $360,000
Days to Close:  24
Reason Came To Us: Debt consolidation to then improve credit.

Loan of the Week – Next Generation

May 28, 2020

Next Generation Promo

Heading Into Our Next Generation of Lending

With over 3 decades in the business of alternative financing, we are one of the few Hard Money companies capable of lending in these uncertain times.  We continue to offer our services to those in need.  Below is just one of the many ways we can be of help, with our unique Alt-A Hard Money loan program.

Loan of the Week

Recently one of our brokers had a client who needed some fast funding.  He had to resolve some critical issues prior to building on one of his properties; There were permitting fees and road work that needed to be done and done quickly.

With an LTV of 53%, this loan of $750,00 was an easy one for us.

Even though this borrower would have qualified for a conventional loan, our Alt-A loan program was a better solution for him.  This program allows borrowers who don’t quite qualify for a conventional loan or who need a quick close, to access the financing they need without the usual lengthy process.  In addition, the interest rate on these loans is significantly lower than other hard money loan programs.

In 9 days, this Borrower was closing escrow and was able to secure all the necessary permits to begin work on his property!

If you are just shy of qualifying for a conventional loan, or need a fast close, give us a call at 707-523-2099.  We look forward to letting you know what we can do for you.

Who Predicted This Affect on California Real Estate?

May 26, 2020

Who Predicted This Affect On California Real Estate

One of the burning questions facing all Californians today is: with Californians self-distancing and “hunkering down” for the immediate future, what will the impact be on our real estate market and investments?  While this pandemic is causing various economic downturns, it hasn’t yet affected home values and most economist are still optimistic with regards to the real estate market in general.

Real estate sales, rentals and leasing are a $445 billion industry in California and has been a major driver in personal wealth for property owners over the past decade.

Seeing the effect of the covid19 pandemic on the world economy naturally raises questions regarding other markets, like real estate.  Experts have made clear that an economic slowdown does not equal a housing crisis, nor does it mean a repeat of the 2008 debacle.  There were other economic issues at work during that recession that have been resolved by laws that were enacted since.

What we may be seeing is a longer wait for homes to sell once they hit the market and there may be some lowering of prices, but no major crash is predicted by the experts.  Nor has there been any major dip in California values or home sale ranges despite this ongoing pandemic.

California housing demand remains strong and technology makes it easier to perform real estate shopping and buying online.  Some adjustments we might be seeing are that viewing houses and inspections may be done more by appointment, more attention on extra sanitizing for in-person viewings and virtual showings but it will not be impossible.

While we are home-bound, this time would be good time for potential buyers  to get their paperwork together for mortgage pre-approval, and for sellers to get their disclosures completed and begin the decluttering process.  Sellers can also line-up the pre-sale inspections and necessary photographs so this time at home is not wasted.

Because we are a family-owned and operated real estate financial business, Sun Pacific Mortgage is still working, getting loans funded with our usual efficiency.  We could be the answer to solving your real estate funding problems when other lending institutions are short- handed.  We specialize in fast, short-term mortgages that can be refinanced in as little as six months.  Give us a call at 707-523-2099.  We can handle all the necessary paperwork via phone call and email, so reach out!

Recently Funded – Helping Where Needed

May 21, 2020

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Let Us Be Of Help When Needed.

These are trying times for many.  Wouldn’t it be beneficial to discover a possible home loan program that could relieve some of the stress?  This is where we hope to be of help!

The Hard Money mortgage programs we offer are backed by real estate equity –helpful for purchases, refinances for debt consolidation, to pull out additional cash for upgrades or for business capital, etc.

We also have a unique Alt-A Hard Money program great for anyone who is fully qualified for conventional financing but wants a faster loan OR someone who just missed qualifying and still wants help.
Call Today 707-523-2099 with any questions or specific scenarios. We will quickly let you know what help we can provide to you, a friend or even your clients.

Others Recently Helped by Us

Location:  Cazadero, Sonoma County
Finance Program:  Primary Residence Refinance
Loan Size:  $380,000
Days to Close:  28
Reason Came To Us: Didn’t qualify as poor condition of property but needed business capital.

Location:  North Hollywood, Los Angeles County
Finance Program:  Investment Property Purchase
Loan Size:  $397,000
Days to Close:  14
Reason Came To Us:  Didn’t want to lose out on another investment opportunity.

Location:  Penngrove, Sonoma County
Finance Program:  Investment Property Refinance
Loan Size:  $325,000
Days to Close:  20
Reason Came To Us:  Credit was poor but needed to refi out of a loan that had come due.

Location:  Goleta, Santa Barbara County
Finance Program: Refinance of Primary Residence
Loan Size:  $450,000
Days to Close:  13
Reason Came To Us: Needed to quickly pay of the existing reverse mortgage of a relative who recently passed away, otherwise property would be foreclosed on.

Location:  Sacramento, Sacramento County
Finance Program:  Primary Residence Refinance for Business Purpose
Loan Size:  $235,000
Days to Close:  11
Reason Came To Us: Had too many bills and wanted to do debt consolidation to improve credit standings.

Home Equity to the Rescue

May 19, 2020

Home Equity To The Rescue

Despite the staggering number of unemployment claims being filed, there are many reasons we will not be seeing a significant number of foreclosures like we did during the crash of the last decade.  The major reason is that the amount of equity homeowners have today, positions them to be in a much better place than they were in 2008.

Here in California, we understand the significant equity existing in our real estate, painting a picture that brightens significantly.

The last recession was painful, and when prices dipped, many found themselves owing more on their mortgage than what their homes were worth.  The average equity that mortgaged homes have today is a significant amount of money which homeowners will not be walking away from, even in today’s economy.

Californian’s can see strength in our current market through homeowner equity that was not there in the past.  In fact, this equity may become the cushion some people need to get over the present hump.  By accessing their built-up equity, they can ease some of the pressure they may be experiencing.

But what if you need this money fast, or your credit has suffered in the past and you do not qualify for a conventional loan?  This is where Sun Pacific Mortgage can step up and help.  With a healthy amount of equity, we can provide a cash-out option to sustain you in the short term.  We are one of the few hard money lenders who have continued to offer owner-occupied loans.  Using your equity to get you these difficult times may provide you with fewer sleepless nights.

Give us a call at 707-523-2099 to see if we can provide you with a softer landing during these difficult times.

Unique Financing That’s Helpful Now

May 14, 2020

New Northbay Biz

Get Financing From Family Company – Ranked One of the Top 500

Despite current circumstances, we have successfully continued to lend to individuals who are in need of a home loan – to get fast cash-out from equity, to do repairs, money to buy a home, do debt consolidation, pay off balloon payments due, etc.

Our desire to assist those who need fast financing or have just missed qualifying for traditional “A-Paper” home loans, has prompted us to work closely with our myriad of investors and get a strong mortgage program that can be of help!

This unique “Alt-A Hard Money” program has benefited quite a few borrowers in need over these past few months, offering lower-than usual Hard Money rates:

– Borrowers with good credit (640+)
– Lower Loan To Value (55% LTV or lower)
– Nice property in good location

We are known for providing fast financing and our specialty has become this new “Alt-A Hard Money” program.  In business for more than three decades, we remain family owned & operated and have helped thousands of individuals with their real estate financial needs throughout California.

Email back or Call Us at 707-523-2099 if you would like to see if you qualify for this unique mortgage program. We’ll let you know quickly if we can be of help.

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

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