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Recently Funded – New Resolution

January 9, 2020

Recently Funded – New Resolution

It’s not just a brand-new year, it’s a brand-new decade.  So how about making this year’s resolutions about your real estate financing be based on proven successes and real testimonials of so many happy borrowers?  

If you, a client or friend need fast financing or were turned down elsewhere, we can help with our Hard Money alternative financing programs. 

Call today 707-523-2099 with your scenario.  We’ll let you know how we can help you accomplish your New Year’s real estate finance resolutions!

Recently Funded Loans

Location:  Tiburon, Marin County
Finance Program: Temporary Refinance for additional business-purpose cash.
Loan Size: $320,000 with 19% LTV
Days To Finish: 20
Why Came To Us: Had poor credit so working to improve this by doing debt consolidation. 

Location:  Los Angeles, LA County
Finance Program: Short term refinance of primary residence
Loan Size: $270,000 with 62% LTV
Days To Finish: 2
Why Came To Us: Self-employed with difficult to prove income. 

Location:  Sacramento, Sacramento County
Finance Program: Primary residence cash-out refinance
Loan Size: $310,000 with 56% LTV
Days To Finish: 12
Why Came To Us: Credit scores were too low for a loan elsewhere. 

Location:  Palm Springs, Riverside County
Finance Program: Non-Owner/Investment Property Cash-Out 
Loan Size: $409,000 with 64% LTV
Days To Finish: 3
Why Came To Us: Needed fast financing to close on an investment deal. 

Loan of the Week – Start 2020 Off Right!

January 2, 2020

Happy New Year Right

Start the Year RIGHT By Getting Loan Approval!

Wouldn’t it be great to start the year off right with “LOAN APPROVED”?  We can make that happen!

For over 3 decades now we continue to offer our trusty alternative finance programs for both real estate purchase and refinances.  Let us help you and/or your client today, by providing FAST loan approval with one of our Hard Money programs. 

 

Holiday Loan of the Week

A Mortgage Broker called us for help with one of his borrowers, as he was having difficulty with his Underwriters who weren’t approving the needed cash-out. This borrower owned his home free and clear in Contra Costa County, but due to a divorce  the past year, his credit had some issues which weren’t being cleared up quick enough. 

The borrower needed some fast cash to help pay off some urgent bills as well as help close on another real estate business transaction.  He could no longer wait for the current conventional Underwriting, but needed fast help with a $350,000 Hard Money loan at a low 26% loan to value. 

This is where we stepped in and within just a few days, the relieved homeowner and his Mortgage Broker heard the merry phrase “loan approved!”.  And just about 5 days later, the borrower had cash in hand. 

Call us at 707-523-2099 with any questions or scenarios.  We’ll help you and/or your client start the year off great by getting that awaited “loan approved”!

Recently Funded – Make it an Alt-A Christmas!

December 19, 2019

Christmas Promo 1

We hope to make your holidays brighter by offering up our uniquely fast, smooth and lower-rate alternative financing program for your real estate needs. 

Let’s make it the best Alt-A Christmas ever! 

– We provide FAST Closing – have your loan done before the holidays!
– In business 3 decades – almost as long as Santa.
– We are family owned and operated – with over 10,000 happy borrowers!
– Lower Hard Money rates – as low as 6%*.

Call today 707-523-2099, we’ll let you know quickly how we can help make your holidays brighter!

Recently Funded Loans

Location:  Santa Rosa, Sonoma County 
Loan Program: Investment Property Refinance
Loan Size: $550,000 with 68% LTV
Why Came To Sun Pacific: Having difficulty getting financing elsewhere due to “owning too many properties” and debt to income ratio. 
Days To Finish: 12

Location:  Bell, Los Angeles County
Loan Size: $409,000 with 64% LTV
Loan Program: Business Purpose Refinance of Investment Property
Why Came To Sun Pacific: Poor credit so wanted to consolidate business debt and personal high-cost credit cards. 
Days To Finish: 14

Location:  Walnut Creek, Contra Costa County
Loan Program: Temporary Refinance of Primary Residence 
Loan Size: $350,000 with 26% LTV
Why Came To Sun Pacific: Credit wasn’t good enough due to recent divorce but needed fast cash. 
Days To Finish: 13

Location:  San Diego, San Diego County
Loan Size: $320,000 with 70% LTV
Loan Program: Temporary Refinance on Primary Residence
Why Came To Sun Pacific: Self-employed with difficult to prove income. 
Days To Finish: 9

 

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

State of the Market – San Francisco & Peninsula

December 17, 2019

State Of The Market San Francisco Peninsula

December 2019

Average sale price for a Single Family Home in San Francisco in November 2019 was $1,995,413 vs 

October of 2019 – $1,928,523. Average selling PRICE per SQFT $1,033.28. Avg Days on Market 24.

Average for Single Family House being Sold in San Francisco in November
Listing Price $1,849,328
Listing Price Per Sq. Ft. $937.95.
Selling Price $1,995,413
Selling Price Per Sq. Ft. $1,033.28

Average sale price for the Condo/Coop/TIC/Loft in San Francisco in November 2019 was $1,330,776 vs October of 2019 – $1,446,538. Average selling PRICE per SQFT $1,085.09. Avg Days on Market 33.

Average sale price for 2-4 Units in San Francisco in November 2019 was $2,104,121 vs October of 2019 – $2,420,603. Average selling PRICE per SQFT $725. Avg Days on Market 45.

Average sale price for 5+ units in San Francisco in November 2019 was $5,306,500 vs October of 2019 – $4,284,333. Average selling PRICE per SQFT $507. Avg Days on Market 65.

Inventory of properties for sale in San Francisco as of December 13, 2019 = 685
Single-Family Homes = 154
Condo/Coop/TIC/Loft = 389
2-4 Units = 114
5+ units = 28

Average Single Family House being listed for sale in San Francisco today – Dec 13th 2019
Bedrooms 4
Baths 3.16
Square Feet 2947
Lot Size 0.07
Listing Price $4,045,895
Listing Price Per Sq. Ft. $1,084.75

All the properties Sold in November 2019 – 498.

There is currently LESS than 1,5 month worth of inventory, meaning if there was not another home listed, it would take just about one and half month for all the current homes on the market to sell.
Once we reach 6 months of inventory, the market will turn to a Buyer market.

Out of 197 Single Family Houses sold in San Francisco in November of 2019,
31 sold below asking price,
14 for asking price and
152 sold for over asking price.
4 for over $500,000,
1 for over $600,000,
1 for over $700,000,
1 for over $800,000,

Example of property sold over asking.
231 Waller St San Francisco CA 94123
6 – Hayes Valley
3 bed
2 batt
1920 built
2535 sqft
3207 sqft Lot Size
List price – $2,395,000
Sold Price – $3,210,000
Difference- $815,000

San Francisco Home
Pending as of today December 2019
San Francisco County 120 (all properties)
San Mateo County 297 (Single Family/Condo/Townhouses)
Santa Clara County 673 (Single Family/Condo/Townhouses)

December 2019 Peninsula/Silicon Valley Market Update
In Menlo Park, CA – AVERAGE DAYS ON MARKET for Single Family Houses in November was 33 days vs 23 days one month prior with the average sale price $2,851,403.00 (in October was $2,679,510.00. Price Received was 3% MORE than an asking price.

In Foster City, CA – AVERAGE DAYS ON MARKET for Single Family Houses in November was 13 days vs 19 days one month before with the average sale price $1,624,400.00 (in October was $1,742,000.00). Price Received was 4% MORE than an asking price.

In Belmont, CA – AVERAGE DAYS ON MARKET for Single Family Houses in November was only 17 days with the average sale price $1,797,134.00 (in October was $1,989,213.000). Price Received was 1% MORE than asking price.

In San Carlos, CA – AVERAGE DAYS ON MARKET for Single Family Houses in November was only 19 days with the average sale price $2,107,629.00 (in October was $2,040,402.00. Price Received was 1% MORE than asking price.

In San Mateo, CA – AVERAGE DAYS ON MARKET for Single Family Houses in November was only 24 days with the average sale price $1,567,243.00 (in October was $1,662,157.00. Price Received was 4% MORE than asking price.

In Burlingame, CA – AVERAGE DAYS ON MARKET for Single Family Houses in November was 19 days with the average sale price $2,401,875.00 (in October was $2,382,800.00). Price Received was THE SAME as asking price.

If you were thinking of selling your home in the near future, now is the time to do so to get the top dollar for your home before the market has a chance to turn.

Reminder: As you know that I am in real estate sales and my passion is to bring buyers/sellers together.
Who have you talked to in past couple days that might be thinking about buying/selling in San Francisco and/or in Silicon Valley or anywhere in the US/Canada (I am blessed to be a part of a huge network that I meet/talk-to on regular basis which is the backbone of my business that my clients benefit from).

Shared by,

Valeriy Krysov, REALTOR®
Real Estate Broker
CalBRE Lic #01847176
Ph: (415) 385-8949
RealtyFinancial.com

Loan of the Week – 2nd Generation Strong

December 12, 2019

2Nd Generation Hard Money Lenders

You and/or your clients will have no doubts or reservations when working with our family owned & operated company to get alternative financing, also known as Hard Money:

  • Trusted by more than 10,000 borrowers after more than 3 decades in business!
  • You won’t need to wonder if we can get you fast financing – we’ve funded many in less than 5 days!
  • Don’t worry about being turned down at the last moment – we finance difficult-to-prove income, property condition, poor FICO issues and even fund jumbo size loans!

Loan of the Week

A Homeowner called us up with an urgent request to pull cash out of her property, located in Sonoma County.  She was self-employed with difficult to prove income and didn’t want to chance using another lending institution due to time constraints on a business deal she was trying to complete.

We quickly confirmed the property value and gathered the needed documentation.  With a 36% loan to value, her requested $360,000 loan was approved within just a few days and once all was said and done, she had cash in hand in just under 2 weeks!

Let us know if you have any questions or scenarios, by calling us at 707-523-2099. We will quickly reply with how we can help.

Financing From Long-Time Lenders

December 5, 2019

Financing From Long Time Lenders

You no longer need to worry about having unexpected charges added to closing costs or being “turned down elsewhere” at the last moment!  You can trust The Guys in the White Hats to be honest with your loan, from start to finish. 

And for someone who just missed qualifying for conventional financing, take advantage of our new Alt-A Hard Money program with rates as low as 6%*. 

Call today 707-523-2099 or email back with any questions or scenarios.  We will let you know quickly how we can help!

Recently Funded Loans

Location:  Napa, Napa County
Why Came To Us: Had difficult to prove income and was self employed so not having success with other lending institutions. 
Loan Program: Non-Owner-Occupied property, cash-out for business purpose.
Loan Size: $525,000 with 66% LTV
Days To Finish: 2

Location:  Murrieta, Riverside County
Why Came To Us: Had a couple of late payments on mortgages so wasn’t qualifying for financing with others. Needed additional cash for property fix-ups and this issue does not conflict with our finance requirements. 
Loan Program: Investment property refinance with cash out. 
Loan Size: $650,000 with 64% LTV
Days To Finish: 17

Location:  Geyserville, Sonoma County
Why Came To Us: Owned multiple properties with debt-to-income ratio in question with other lenders, so taking too long for financing. 
Loan Program: Non-Owner-Occupied property, cash-out for business purpose. 
Loan Size: $450,000 with 46% LTV
Days To Finish: 20

Location:  Apple Valley, San Bernardino County
Why Came To Us: Had credit issues and wanted to do debt consolidation to improve scores. 
Loan Program: Primary Residence Refinance
Loan Size: $235,000 with 67% LTV
Days To Finish: 19

 

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

Taking the Fear Out of Home Buying

December 3, 2019

Taking The Fear Out Of Home Buying

The present state of the real estate market is classified as a “Seller’s Market”.  That alone is enough to frighten any potential home buyer. Add to that a first-time buyer’s anxiety and you have every reason for “buyer’s paralysis”.  It doesn’t need to be that way, though. With a well thought out plan, a trusted realtor, and a savvy mortgage broker anyone, even a first-timer, can find their dream home without losing their mind.  

Here are five tips included in a recent Realtor.com’s article:

#1:. Get Pre-Approved for a Mortgage Before You Start Your Search. 

Understanding your budget is critical to a satisfactory search.  The last thing you want to do is fall in love with a home that is out of your price range.

#2:  Know the Difference Between Your Must-Haves and Would-Like-To-Haves. 

Before you start your search, list and qualify all your “needs” and “wants” and “absolutely must haves”.  This list will help you stay focused on what is important as you view properties.

#3: Research and Choose a Neighborhood Where You Want to Live.

Take a test drive of the neighborhood you are considering.  It is wise to do this during commute time and in the evenings to see how much time it takes to get to school and work.  Check out the amenities and the school district.

#4: Pick a House Style You Love and Stick to It. 

Not every style home is a fit for every family.  Placement and number of bedrooms become critical in families with children.  

#5: Document Your Home Visits. 

It is a good idea to take pictures as you tour homes, because as you see many homes, the houses may begin to blur together.  Keeping notes on what you liked and didn’t like about each home can be helpful.

After you find the home of your dreams, and you are looking for a trusted mortgage lender, give Sun Pacific Mortgage a call at 707-523-2099.  We are a Hard Money Lender and we have alternative finance programs for those who are looking for stronger purchase offers with all cash or fast closes. We also can help those who don’t quite qualify for a conventional loan.  We have helped thousands over the past 31 years, and we would be happy to help you too.

ALT-A Hard Money Offers FAST Funding!

November 21, 2019

Fastest

What can we do for you and your Borrower or Homebuyer? Get that loan funded and fast!

“I have recently got a hard money loan and am very pleased with the results. Broker has a powerful team that works fast and knows what they are doing. They coordinated with the escrow company, the lenders and me in record time

(2 weeks – and I had some issues to resolve with the county!).    [Sun Pacific] was on top of their game. JOB WELL DONE TEAM! Thank you. I will come back if I need a loan, I highly recommend this company.” – Happy Borrower, G.Q.

Rates as low as 6%* can be gotten with our Alt-A Hard Money program! If someone just misses qualifying for conventional financing for whatever reason, this could be just what they need.

Call us at 707-523-2099 with any questions or scenarios.  We’re ready to fund that loan fast!

Alt-A Hard Money Loans Quickly Financed By Us

Location:  Sonoma, Sonoma County
Why Came To Us: Needed fast capital for her business
Scenario: Looking for fast cash to capitalize on a business opportunity and owned property free & clear, so could pull cash out.
Loan Size: $420,000 with 30% LTV
Days To Finish: 4

Location:  Thousand Palms, Riverside County
Why Came To Us: Having difficulty proving income due to being self-employed.
Scenario: Wanted to do debt consolidation and some fix-ups around her home but having difficulty getting a loan elsewhere so came to us and we got it done.
Loan Size: $452,000 with 46% LTV
Days To Finish: 17

Location:  Mill Valley, Marin County
Why Came To Us: Needed fast financing.
Scenario: Had found the perfect new home and wanted to submit a stronger offer with very short closing date and no loan contingency, which we could offer.
Loan Size: $599,000 with 59% LTV
Days To Finish: 8

Location:  Santa Rosa, Sonoma County
Why Came To Us: Had great credit but due to property condition was unable to get loan approval elsewhere.
Scenario: Wanted to fix up rental property so could rent it for better return.
Loan Size: $365,000 with 35% LTV
Days To Finish: 13

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

Investment Strategies: Stocks, Bonds, and Real Estate

November 19, 2019

Investment Strategies Stocks Bonds And Real Estate

Over the past decade, as stocks and bonds have become more volatile, investors seeking greater control have turned to private real estate investing.  Let’s examine which investment path has generated better returns for investors with lower risk.

  • BONDS RETURNS:  Bonds typically have lower risk and lower returns.  They often expire after a given amount of time and stop paying out any returns.  In a recent study encompassing the years from 1870-2015 the average bond yield was 2.5% annually and were often negative.  While bonds offer some stability, paying about the same amount to investors each month, the cost in lost returns over the long haul is high.

  • STOCK RETURNS:  Considered a liquid asset, meaning they can provide quick cash flow, income from stocks is passive and individual investors have little to no control over the amount of this income.  Stocks do allow for diversification over industries and there is no minimum amount to invest in them. The downside to investing in stocks is that it can take decades for them to produce significant income for investors, unless you are one of the lucky ones to get in on a successful IPO.  In the same report as above, these equities yielded 6.9% average annual return.

  • PRIVATE REAL ESTATE RETURNS:  These investments are considered an illiquid investment that is known for its lower risk and high returns.  In the same study referenced above for bonds, the rate of return for residential real estate yielded a 7.05% annual average return (average CA trust deed offering return is 8-12%).  Real estate is a physical asset that offers many benefits stocks and bonds do not. Profits can be increased through improving the valuation of the property or boosting rental income. Additionally, there is a tax benefit associated with real estate investments.

Historically, real estate investments have been viewed as a safe haven for investments and an opportunity to preserve wealth for generations to come.  It is plain to see why many investors make real estate investments an essential portion of their portfolios.

For those of you interested in investing in real estate for higher returns and live in California, call our office at 707-523-2099 and maybe we can get some business going.  Here at Sun Pacific Mortgage we have been in business since 1988 offering alternative financing for real estate needs. 

Unique Alternative Financing!

November 7, 2019

Unique Alternative Financing

Unable to get a home loan or refinance because you just missed out on qualifying for conventional financing?  Need a FAST loan? We are uniquely qualified to help with our Hard Money Loan Programs: 

– One-of-a-kind Alt-A Hard Money Program with rates as low as *6%.

– Fastest funding within 48 hours.

Hard Money Loan of the Week

A Mortgage Broker called us up, hoping to get quick assistance for his client.  She had been to a few other lending institutions and was starting to worry she couldn’t get a loan, due to some issues with proving income.  

She owned an investment property in Granada Hills of San Fernando Valley and was hoping to use the equity to get a short-term loan of $454,000.  All she wanted to do was consolidate high credit card debt and handle some other bills. 

This wasn’t a problem for us.  Within just 12 days, at a 56% Loan To Value, we had her Hard Money loan financed and money in hand!

If you have any questions or scenarios you would like us to review, call 707-523-2099.  We will quickly show you how to make getting a loan less terrifying. 

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

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