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Backed By More Than 30 Years Of Trust!

Northbay Biz Top 500

We are privileged to have repeat and referred borrowers, realtors, lenders and brokers who have been placing their trust in us for the past 30 years and more. 

It’s a trust we could never buy. It is a trust you can count on. 

If you or a client is just shy of qualifying for conventional financing, give us a call at 

707-523-2099…and let’s get you a Hard Money Alt-A loan, with rates as low as 6%*!

Some Of Our Recently Funded Hard Money Loans

Location:  Santa Rosa, Sonoma County
Why Came To Us: Property required some fix-ups. 
Scenario: Wanted to buy an investment property but due to property condition couldn’t qualify for traditional financing. 
Loan Size: $882,500 with 61% LTV
Days To Finish: 17

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

Location:  Vallejo, Solano County
Why Came To Us: Borrower had “too many” owned properties with mortgages on them so unable to get financing elsewhere. 
Scenario:  Borrower had an investment property with considerable existing equity.  He did a refinance to pull out additional capital for other business purposes. 
Loan Size: $560,000 with 70% LTV
Days To Finish: 15

Location:  Covina, Los Angeles County
Why Came To Us: Turned down at last minute due to proof of income. 
Scenario: Wanted to consolidate high-rate credit card debts and do some home improvements but having difficulty getting financing due to being self-employed with difficult to prove income. 
Loan Size: $450,000 with 62% LTV
Days To Finish: 11

 

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

Sun Pacific Mortgage Offers New & Unique Alt-A Hard Money Program

Sun Pacific Mortgage Offers New Unique Alt A Hard Money Program

We have been a Money Lender for over 3 decades and have recently begun offering a new type of loan Program for the many home buyers and borrowers who are turned down elsewhere for a real estate loan: an Alt-A Hard Money Program!

We are located in Santa Rosa (Northern California) and are licensed for lending throughout the state. This one of a kind Alt-A Hard Money loan is the perfect solution for a home buyer or borrower who just cannot get approved for a home loan, by another conventional or traditional lending institution.  They miss qualifying by a slim margin; In other words, they are almost qualified for a standard bank loan but not quite. 

Here at Sun Pacific Mortgage, this Alt-A Hard Money loan provide the solution to those who want to buy a home or refinance but get told “no”.  These typically have rates from *6-8% – which is considerably lower than the average Hard Money rates. This program is for borrowers and home buyers with a credit score of 640 or higher, a 35% or more down payment, and on a property in good shape and in a good neighborhood. Many borrowers with this type of loan will end up refinancing in a year or two when their credit improves or the other disqualifying circumstance(s) resolves. 

Sun Pacific Founder, Owner, states “Because of the demand from both borrowers and Investors, we have begun offering this new loan, in addition to our traditional Hard Money Loan Programs. We have many Investors who are interested in these types of loans. For borrowers who are just shy of qualifying for “A” paper, you can quickly get approved for this lower-rate Alt-A Hard Money Program. And we can turn these loans around quickly, in 2 weeks or less.”

He continued, “Just recently we funded a loan. A real estate agent called with a rush request from her home buyer:  He needed a $599,000 short term loan to buy an investment property in Mill Valley.  His current lending institution was confused by his company being the buyer so was not approving the loan. His credit was over 750, he had a good down payment allowing for 59% loan-to-value, he made great monthly income and had a lot of other real estate assets as well as excess funds in the bank. He was a perfect borrower. Except he had to wait too long due to unnecessary confusions from his lender, so now he needed fast loan performance.  This is where we stepped in with our Alt-A Hard Money Loan program with a 6%* rate and had his loan funded in just under 1 week!”.

Our family company was founded in Sonoma County in January 1988, to provide honest real estate transactions and alternative financing to the community.  To this day it is still family owned and operated. 

We offer their traditional Hard Money Loan Programs and Alt-A Hard Money for real estate needs throughout all of California. From the moment the company started, we have specialized in borrowers and home buyers who were “turned down elsewhere”.  This financing is known as Hard Money or Private Money and is our specialty. Such loans are funded by individuals who live locally, therefore there are less qualifications and it is faster to get the funds – unlike other lending institutions which require much more qualifications and require 30-90 days to funding. 

Our website can be seen at https://www.sunpacificmortgage.com/ or we can be reached at (702) 523-2099.  We stand ready to get help you with a Hard Money loan where others turn you or a client down!

 

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

Honest Hard Money

Honest Hard Money

A client or you just shy of qualifying for traditional financing?  Turned down elsewhere for a mortgage? We can help with our honest hard money loan programs!

 Backed by more than 30 years of trust!
 Fastest funding in just under 48 hours!
 New, one-of-a-kind Alt-A Hard Money Program with rates as low as 6%!*

Loan of the Week

A past borrower called us, wanting to pull cash out of his free and clear home in Mill Valley, Marin County.  He and his wife owned a business and needed some additional capital, as well as wanted to consolidate some credit card debts.  Due to their difficult to prove income, they were having issues with loan approval elsewhere. 

At 64% loan to value, we were able to get them their desired loan amount of $500,000 in less than 2 weeks. This primary residence cash out, business purpose loan was not a problem for us!

If you have any questions or scenarios you would like us to review, call 707-523-2099 or reply to this email.  We will quickly let you know what we can do for you. 

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

Are Bay Area Real Estate Statistics Fluctuating?

Have you been wondering what happened in the real estate market last month?  Below find some interesting facts regarding average sales prices for single family homes that might either surprise you or confirm your suspicions:

  • San Francisco: $1,840,343.  Down $126,907 from July
  • Menlo Park:  $2,744,629.  Up $159,895 from July
  • Foster City: $1,900,846.  Down $29,862 from July
  • Belmont:  $1,755,391. Down $29,784 from July
  • San Carlos: $2,223,333. Up $18,162 from July
  • San Mateo:  $1,738,810. Up $14,421 from July
  • Burlingame: $2,691,071. Up $27,759 from July

In general, the number of homes for sales fell, for example in San Francisco 509 homes sold in July 2019 and 406 sold in August 2019.  Likewise, the current inventory of active homes for sale fell slightly from 722 in July to 719 in August.

On the other hand, several agencies believe homes sales will increase steadily over the next year. If you’re a homeowner who has considered selling your house, now may be the best time to put it on the market.  Below is a chart showing their predictions:

Are Bay Area Real Estate Statistics Fluctuating


Rest assured that there does not seem to be any big decline in real estate values soon according to these trusted prognosticators. 

Bottom Line:   Playing the waiting game may not be the best strategy if you are planning to sell or to buy in the near future.

If you need an alternative approach to mortgage financing, give Sun Pacific Mortgage a call at 707-523-2099.  We have a toolbox full of creative financing for those who do not quite qualify for a conventional loan.

Alt-A Hard Money Is Hot – No Bull!

Alt A Hard Money Is Hot No Bull 

Have a strong borrower who just misses qualifying for traditional “A-paper” financing? This is where our Alt-A Hard Money program can help with a loan turned down at the last moment!  

This new Alt-A Hard Money program is one-of-a-kind and is hot with other real estate agents, mortgage brokers, lenders and their borrowers & home buyers!  Offering lower rates between 6%-8%*. 

Main qualifications are: 

– 65% Max Loan To Value.
– Property in good location and condition.
– Good credit 640 or up. 

Hot Alt-A Hard Money Loans Recently Funded: 

Location:  Mill Valley, Marin County
Why Came To Us: Turned down by conventional lender at last minute.  
Scenario: Investor didn’t want to lose out on a good purchase so needed a fast cash offer to close the deal. 
Loan Size: $599,000 with 59% LTV
Days To Finish:  8

Location:  Santa Rosa, Sonoma County
Why Came To Us: Had IRS lien with difficult-to-prove income.
Scenario: Needed additional funds to complete remodel so she could then resell.
Loan Size: $882,500 with 61% LTV
Days To Finish: 17

Location:  San Juan Capistrano, Orange County
Why Came To Us: Self-employed with difficult to prove income.  
Scenario: Home Buyer had a sizeable down payment with good income, but unable to get loan approval elsewhere due to being self-employed just in the past year. 
Loan Size: $1,350,000 with 48% LTV
Days To Finish: 20

Location:  Sonoma, Sonoma County
Why Came To Us: Turned down by underwriting due to an issue with proof of income. 
Scenario: Escrow was due to close shortly but buyer now had no loan approval, so home buyer’s Agent reached out to us to rescue her buyer’s transaction.  
Loan Size: $800,000 with 57% LTV
Days To Finish:  11 

If you have any questions or scenarios for us to review, call 707-523-2099 or reply to this email.  We will let you know quickly what we can do for you!

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

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

How Is The Recession Going To Affect Real Estate & Mortgage Markets?

How Is The Recession Going To Affect Real Estate Mortgage Market

Lately, we have been bombarded with the doom-and-gloom messages about the “inevitable” Recession at our doorstep.  As professionals, we have the obligation to inform and educate our clients about the financial climate, and this means giving them the “real scoop” as it affects their investments.  

Steve Harney, a spokesman for Keeping Current Matters, delivered a podcast recently on this very subject, and offered some valuable insights into the approach recommended for realtors and brokers.  Safe click link to recent “Will A Recession Affect The Housing Market” webinar and graphs & statistics about real estate markets in past recessions: 

https://www.keepingcurrentmatters.com/article/how-will-the-next-recession-affect-the-housing-market/?utm_campaign=Agent_Articles&utm_medium=email&utm_source=email-broadcast&utm_content=SeptSales3&utm_term=Watch

Steve pointed out that we have enjoyed the longest run of economic recovery in our history, but as it has been with history trend, all good things must come to an end.  The definition of “recession” is two consecutive quarters where the GPA decreases. Given this definition 42% of consumers think a recession will happen in 18 months. Experts postulate that it will occur in the second half of 2019 or the first half of 2020. The most important fact to keep in mind is that a Recession does not mean a housing crisis.  

Unlike the last Great Recession, mortgages have been strictly regulated and most homeowners are in a great place financially relative to their home ownership.  In fact, it has been pointed out that smart people are buying up real estate now because it is much more stable than other markets. Wise investors see this period as a great opportunity to add to their real estate investments. 

As professionals it is our obligation to clear up any confusion floating out there.  It is well known that confusion equals paralysis, and that could spell disaster for the real estate economy.  Aspiring home buyers hoping that home prices will crash are in for a rude awakening. The lack of housing and the demand for single-family homes by the giant millennium generation points to no drop-off in demand any time soon.

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On the other hand, real estate professionals will likely meet up with worried potential sellers that may decide to postpone listing until they can get top dollar for their properties.  Some experts believe the number of home sales will remain flat or possibly even dip. The priciest parts of the country, like California, could see price corrections, but sales might only decline 10%-20%.  On the upside, if interest rates continue to fall, it could give the housing market a boost, since lower rates mean some buyers can afford a bigger house with a bigger mortgage.

So, the message at the end of it all: the news isn’t always factual. The Real Estate Market has held up throughout past recessions and its high time to let any and all current and potential home buyers and home sellers know that now is the time to buy and sell!

WANTED: Your Alt-A Loans!

Wanted Promo Alt A

We have the perfect solution for a home buyer or borrower who miss qualifying for a home loan or refinance by just a slim margin, through another conventional lender. 

Solution is our unique Alt-A Hard Money program!

– 65% LTV or less

– Good credit (640 and up)

– Rates as low as 6%* interest only

– Property in good condition and nice location

Loan Of The Week

A Mortgage Broker reached out to us, hoping we could help his client with a rush investment purchase.  Due to timing issues, a quick Hard Money loan was the only solution. 

Within 48 hours we had full loan approval for an investment property purchase in Santa Rosa of $882,500 with a lower loan to value of 61%.  Loan funded fast!

We want your Alt-A loan scenarios. If you have any questions or scenarios for us to review, call 707-523-2099 or reply to this email.  We can let you know quickly what we can do for you!

 

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

Our New Loan Program Is Wrangling Up Fast Approvals!

Our New Loan Program Is Wrangling Up Fast Approvals!

Real estate loan turned down at the last minute?  Strong borrower but just don’t quite qualify for traditional “A-paper” financing? 

This is where our new Alt-A Hard Money program can help, with lower rates between 6 – 8%!   The main qualifications are: 

– 65% Loan To Value or less
– Property in good condition and in nice location     
– Good credit (640 and above)                                

Lower Rate Alt-A Hard Money Loans Recently Funded: 

Location:  Petaluma, Sonoma County
Why Came To Us: Has IRS lien and difficult-to-prove income
Scenario: Homeowner looking to pull cash out of free and clear house.
Loan Size: $350,000 with LTV at 29%.  
Days To Finish:  7 days!

Location:  Brokertfield, Marin County
Why Came To Us: Turned down by their bank at last minute.  
Scenario: Needed additional funds to complete remodel and planned to then sell.  
Loan Size: $680,000 with LTV under 50%.  
Days To Finish:  7 days!

Location:  Mill Valley, Marin County
Why Came To Us: Buyer was an LLC; Other Lender unable to perform. 
Scenario: Borrower was perfect, with great income and credit. Lost time due to unnecessary confusions with underwriting. Didn’t want to miss out on his business investment so required fast financing. 
Loan Size: $599,000 and LTV 59%
Days To Finish: 4 days!

Location:  Santa Rosa, Sonoma County
Why Came To Us: Was turned down at the last minute by underwriting, due to an issue with proof of income. 
Scenario: Escrow was closing in 3 days so Real Estate Agent reached out for fast financing for home buyer. 
Loan Size: $946,870 and a low 35% LTV.  
Days To Finish:  3 days!

If you have any questions or scenarios for us to review, call 707-523-2099.  We will let you know quickly what we can do for you!

Breaking News: New Loan Program!

Breaking News: New Loan Program

For anyone who is just shy of qualifying for conventional “A-paper” real estate loans, our unique Alt-A Hard Money program is here!  Below are the key qualifications:

Good credit (640 and up)
Lower rates from 6% – 8%!
Property in good condition, in nice location
Loan To Value 65% or under

Our Latest Alt-A Loan Of The Week:

Homeowner looking to pull $350,000 out of a property in Sonoma County, which she owned free & clear.  Very good FICO score, nice location and property in good condition but Owner had an IRS lien and difficult-to-prove-income situation so was unable to get financing elsewhere. 

With just 29% LTV, we had her loan approved and funded within just 1 week and for less than 7% interest only Hard Money rate!

 

If you have any questions or scenarios for us to review, call 707-523-2099.  We will let you know quickly what we can do for you!

Recently Funded – Most Popular: Alt-A Loan!

Most Popular: Alt-A Loan!

Any Home Buyer or Borrower who just misses qualifying for regular “A-paper” financing, this one-of-a-kind Hard Money loan program is for them:

 Lower rates from 6% – 8%!
 Good credit (640 and up)
 Loan To Value 64% or less
 Property in good condition & location

Recently Funded – Greatly Benefiting From This New Program: 

Location:  Santa Rosa, Sonoma County
Why Came To Us: Loan disapproved due to last-minute issue with proof of income.
Scenario: Realtor called us on day 27 of 30-day close of Escrow for a fast loan.
Loan Size: $946,870 and a low 35% LTV.  
Days To Finish:  3 days!

Location:  Mill Valley, Marin County
Why Came To Us: Buying as an LLC which confused Lender so couldn’t perform in timely fashion. 
Scenario: Perfect Borrower with great credit & income. Waited too long due to unnecessary confusions with underwriting and was about to miss out on a business investment. Needed fast loan to save the transaction. 
Loan Size: $599,000 and LTV 59%
Days To Finish: 4 days!

Location:  Brokertfield, Marin County
Why Came To Us: Turned down by her bank at last minute.  
Scenario: Needed to complete renovations to then sell house. 
Loan Size: $680,000 with LTV just under 50%.  
Days To Finish:  7 days!

If you have any questions or scenarios for us, just call 707-523-2099.  We will let you know quickly what we can do for you!

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