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Can’t Go Wrong With Our Superheroes!

Cant Go Wrong With Our Super Heros

“They were honest, straightforward, to the point, loyal to the borrowers, and got me a 24-hour turnaround with docs and a full package! Sun Pacific mortgage was very professional and is loyal to their word.  I would recommend anyone to go there for business.” Borrower, C.M.

 

RECENTLY FUNDED WITH HARD MONEY

We Finance Single Family Houses, Condos, Principal Residences

+ Multi-Family Units, Commercial & Office

$660,000 – Bridge Refinance
​Napa, Napa County
67% Loan to value
17 Days to Fund

$650,000 – Temporary Refinance
SFO, San Francisco County
45% Loan to value
17 Days to Fund

$364,000 – Non-Owner Purchase
Marina, Monterey County
80% Loan to value
15 Days to Fund

$454,000 – Non-Owner Business Purpose Refinance
Granada Hills, Los Angeles
53% Loan to value
23 Days to Fund

 

Call today at 707-523-2099 with any questions or scenarios.  We stand ready to be the Hard Money Superhero you need!

All Lined Up For Bigger & Faster Loans!

All Lined Up For Bigger Faster Loans

Recently a Real Estate Broker had a client in need of fast financing.  His Home Buyer made good income and had good credit, but due to being self employed with difficult to prove income, the prior Lender couldn’t pull through at the last minute.

The needed loan was $763,000 for a 70% loan to value to buy a non-owner, investment property in Sonoma County.  Our Hard Money programs had no problems with this!

In just 9 days, this Home Buyer had his short-term loan and keys in hand to his new property!

Call us at 707-523-2099 with any scenario or question you have.  We’re ready to help get you that bigger loan funded – faster.

Do You Know Your Loan Purpose? It Could Make Or Break Loan Approval!

Do You Know Your Loan Purpose Could Make Or Break Loan Approval

Are you aware that the Loan Purpose is critical to a Hard Money loan?  Actually, any loan?

Years ago, loan programs were somewhat divided along the lines of owner occupied or non-owner occupied.  The Dodd-Frank Wall Street Reform and Consumer Protection Act changed that.   Now the Purpose of the loan dictates what loan programs will be available to your Borrower. 

“Consumer Purpose” loans are generally defined as loans for personal, family or household purposes. Such loans include, but are not limited to, loans to purchase, remodel, repair or improve a principal residence; purchase a vacation home or personal vehicle or boat;  to purchase furniture, furnishings, appliances, or other consumer goods for personal use;  to pay, refinance or consolidate personal or family debt or credit cards;  or for education expenses, vacations, and medical expenses.

“Business Purpose” loans are used to purchase an investment property or a cash out refinance where the funds are used for any business purpose. The property collateralized can be owner-occupied or non-owner occupied as long as the funds are used for investment/business.  Such loans include, but are not limited to, loans to purchase, repair or improve real property for use in the Borrower’s business;  to acquire, improve or maintain certain non-owner occupied rental property;  to purchase, improve or repair tools, equipment, machinery, fixtures or furnishings used in the Borrower’s business;  for operating capital e.g., employee salaries or to purchase or pay for business inventory, supplies, rent, taxes, insurance, and other related expenses;  or to payoff, refinance or consolidate business debts.

Please note that the loan can be Consumer Purpose even if the property is a rental or commercial.  It is the Purpose that will dictate the Loan Program.  For example; Borrower has an existing rental property and needs cash out to consolidate personal debts.  That would be deemed a Consumer Purpose loan.  Another example is a purchase of a rental property.  That one will always be a Business Purpose. 

Not all Hard Money lenders will do Consumer Purpose loans, so you need to be sure and ask if you know it is Consumer Purpose.  Here at Sun Pacific Mortgage, we do finance both Programs

In the description of your Loan Scenario, please make sure to include the Loan Purpose.  This could make or break your loan approval!

Taking Hard Money To The Next Level Of Super!

New Year Promo 1A

“True ‘Captains of American Lending’, you guys are blazing the way through complications & compliances of old lending and are true pioneers of the future.”  Borrower, M.F.

RECENTLY FUNDED WITH HARD MONEY

We Finance Single Family Houses, Condos, Principal Residences

+ Multi-Family Units, Commercial & Office

$525,000 – Temporary Refinance
Escondido, San Diego County
69% Loan to value
10 Days to Fund!

$763,000 – Non-Owner Purchase
Santa Rosa, Sonoma County
70% Loan to value
9 Days to Fund!

$1,300,000 – Temporary Refinance
Perris, Riverside County
80% Loan to value
19 Days to Fund!

$805,000 – Commercial Refinance
San Fernando, Los Angeles County
59% Loan to value
13 Days to Fund!

 

Call today at 707-523-2099 with any questions or scenarios.  We look forward to helping you take your 2019 to the next level of super!

What Is The Best Gauge of a Property’s Value?

What Is The Best Gauge Of A Property’s Value

There are so many other factors besides the size of your home that affects its value.  How about the materials used in the construction of the unit, the upgraded amenities, and most importantly, the location?  One example is a completely renovated kitchen and/or bath does not add square footage to your property but will certainly add to the value!

A better way to determine your home’s value might be researching the “comps” in your area.  This is the measuring tool used by real estate agents when determining the best listing price for your home.  Comparable homes will include ones in your neighborhood that best match the style of your home, for example a single-story ranch.

One of the best ways to determine the value of your home is with a CMA, or comparable market analysis, prepared free of charge by most real estate agents.  This analysis reviews homes sold in your area over the past 6-12 months comparing the location, size, bedroom and bath counts, condition, amenities and lot.

An appraisal is another way to determine the true value of your property.  This requires paying a licensed, professional appraiser to give you the market value of your home.  

Correctly determining the value of your property can be beneficial for determining how to properly list it for sale; Find out what equity you have so that you can get money for the needed home upgrades or other business venture you have wanted to do; Determining the equity in your property to decide if you have enough to do a Bridge loan to buy your “dream home”; Or how about discovering the equity for your use to get a temp loan for an additional investment property to make more monthly income through rent?!

There are multitudes of reasons why you would want to properly ascertain the correct value of your property. I hope you found this useful.

Here’s To A Great 2019!

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Happy New Year!

“Out with the old and in with the new” is a common mantra for the new year. Our 2019 mantra to you is: “Out with the slow loan approval and in with faster & bigger loan approvals!”

Kick off 2019 with a Hard Money loan:

  • Many approved and funded in just 1 week.
  • Jumbo loans financed.
  • All FICO scores considered.
  • Property Condition not an issue.
  • Difficult-to-prove income/Self-Employed ok.

Call today at 707-523-2099 with any questions or scenarios.  We look forward to helping you kick off this New Year the fastest way possible!

Are We Looking at a Change In California Real Estate?

Are We Looking At A Change Ca Real Estate

When we review the real estate market over the past couple of months, more than a quarter of listed homes has had a price drop according to Redfin.  Additionally, the supply of homes has increased for the first time in three years according to the National Association of Realtors. There has been a market shift, especially in California.  

Median home prices remain in the higher ranges for the time being, though. Even in Silicon Valley inventory is increasing and sales are slowing.  Where a seller could expect 15-20 offers, the odds are that it will take longer to sell today, and the seller might receive only four to five offers.  

Another issue influencing the real estate market in California has been the lack of single-family construction.  There have been recent gains though in this arena with new construction increasing 16% over last year.

All these factors mentioned above bode well for Buyers in today’s market: You may not need to scramble as much to obtain your dream home, but on the other hand, you may not be able to sell your present home as quickly.  That’s where a Bridge Loan from Sun Pacific Mortgage comes to the rescue!

Bridge loans allow you to purchase your new home before selling the present one, and this is just one of the many lending programs you will find that we offer.  

So, give us a call at 707-523-2099 and see what we can do for you in this ever-changing world of real estate.

Wrap Up A Great Holiday With Hard Money

Wrap Up Holidays With Hard Money

Just 2 more weeks until the end of the year!   Time to buy those last-minute gifts, move into your new home, or complete that refinance so you will have extra cash for this time of year. Let our Hard Money loan programs help you wrap up a great Holiday!

We finance Jumbo Loans; We fund FAST; FICO scores are not a determining factor; We can provide speed & flexibility for all your refinancing and purchasing needs.

Call us at (707) 523-2099, we want to help you wrap up a great Holiday season!

 

Recently Funded

We Finance Single Family Houses, Condos, Principal Residences
+ Multi-Family Units, Commercial & Office

$805,000 Commercial Refinance
59% Loan to value
San Fernando, LA County

$300,000 Temporary Purchase
75% Loan to value
Santa Rosa, Sonoma County

$550,000 Temporary Refinance
41% Loan to value
San Jose, Santa Clara County

$580,000 Business Purpose Refinance Non-Owner
41% Loan to value
Los Angeles, LA County

Is it Still a Seller’s Market?

Is It Still A Seller’s Market

Looking at the real estate market today can be very confusing.  Some experts would have you believe that we have left the “Seller’s Market” behind and have skipped right over to a “Buyer’s Market”.  Not so fast! If we examine some of the statistics related to the Bay Area, we find that there remains only a 2 month inventory of homes on the market.  That is the very definition of a “Seller’s Market”.

The one thing experts do agree on is that It requires 6 months of inventory to become a “Buyer’s Market”.  Other statistics that confirm the “Seller’s Market” label include the number of days on the market, price decreases, and sales over asking price.  As an example of these criteria, let’s look at one of the Peninsula cities, Burlingame. Days of the market averaged 27, average sales price was $2,537,578 (in October was $2,556,152), price received was 5% more than asking.

These numbers are typical of the what we find in San Francisco and the rest of the Peninsula.    From 551 active residential properties on the market in San Mateo County, 29% of properties had price decreases and 32% properties were on the market 60+ days.  While we aren’t seeing the wild and crazy days of the recent past, we could be on a slow climb out of the present market and into a Buyer’s Market.

Bottom line?  If you have been thinking of selling your home, now is the time to do so to get top dollar and find your next new home.  Looking for financing and don’t qualify for a conventional loan, look no further than Sun Pacific Mortgage. We are here to offer you a Hard Money Loan, which will allow you to get into your next home quickly with a minimum of stress.  Give us a call at 707-523-2099 and see how we can help you!

Holiday Loan Superheroes – Just For You!

Holiday Loan Superheroes Just For You

“I was referred this loan from a colleague in my office. These people sold their home and were living in a hotel. They depended on me to get this done and because I knew you could and would do it, they now have a way to close escrow on their new home!

Even though the rate and term are hard money, they are paying less than their previous home loan! I have set them up with the credit repair company and will follow up with them to assure we can help them with permanent financing. They are happy customers! Thanks.” Broker, J.F.

 

Fast Hard Money Financing Before The Holidays

We are fast; Many loans approved and funded in less than 1 week.

Get financing for jumbo loans, up to 2million+.

Just two main qualifications:

    1. A decent down payment or good existing equity.

    2. An ability to repay the loan.

Tis the season to spend time with your family and friends, not worry about a house or finances.  Call us today at 707-523-2099 or reply by email to get a fast Hard Money loan, so you can kick back and enjoy the holidays!

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