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Recently Funded – Make Your New Year Awesome!

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Make Your New Year Awesome!

Img 5A60Dfbd4B26A Make Your New Year Awesome!

“You really helped us out. Our deal was complicated, but Broker at Sun Pacific was able to hit all the moving targets. Several times I called him with questions and he took the time to go over all the details with me. The whole transaction was much better than our usual experience.” Borrower, Tim R.

We have just 2 main qualifications for our hard money loans:


● Decent existing equity or at least 25% down payment.

● An ability to repay the loan (source of income).


We are here to help you make this year awesome!  Call us today at 707-523-2099.


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

Recently Funded By Us:

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Img 5A60Dfe2E1D09 Make Your New Year Awesome!

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Img 5A60Dfff8F4Be Make Your New Year Awesome!

Is This Your Year To Take The Plunge?

1 Among The Many Predictions Promoted At The Beginning Of Each Year, Are The Ones Related To The Real Estate Market.  2018 Is No Exception, And The Ones Emerging Are Both Encouraging And Hopeful.  According To The Prognosticators,  The Bay Area Can Look Forward To A Year Of Moderate Gains In Home Prices And Rising Inventory Levels.  

Among the many predictions promoted at the beginning of each year, are the ones related to the real estate market.  2018 is no exception, and the ones emerging are both encouraging and hopeful.  According to the prognosticators,  the Bay Area can look forward to a year of moderate gains in home prices and rising inventory levels.  

Javier Vivas, director of economic research for realtor.com, predicts a home price increase of 3.2% this year, less than last year’s 5.5% increase year-over-year.  He sees the San Francisco market losing steam, perhaps a good thing for those who have been waiting in the wings for the frenzy to subside.

An inventory shortage has hampered the housing market since 2015, largely because new home construction was stalled.  The National Association of Home Builders chief economist, Robert Dietz, predicts an expansion of the construction industry in 2018 and beyond.  He expects it will happen slowly thanks to a limited labor market, scarce land availability, tight bank financing, and increasing costs of building materials.  But there is light at the end of the tunnel as builder confidence registers its highest level since 1999.

If you are hoping to become a new homeowner in 2018,  or if you are a  lender/realtor wishing to help a client get into a home, please give us a call.  We have made homeownership happen for thousands of clients over the past 30 years, and we look forward to making it happen for you with a Hard Money Loan in 2018!

The Comeback of Multigenerational Housing

1 During The Last Decade The Real Estate Market Has Seen A Phenomenon That It Has Not Experienced Since The 1950S…A Significant Increase In Multigenerational Homes.  According To A Recent Study,  About 21% Or 32 Million Americans Share A Roof With Their Grown Children Or Parents.  A Report By The National Association Of Realtors (Nar)  States That 13% Of Home Buyers Purchased Mutigenerational Homes Last Year.  

During the last decade the real estate market has seen a phenomenon that it has not experienced since the 1950s…a significant increase in multigenerational homes.  According to a recent study,  about 21% or 32 million Americans share a roof with their grown children or parents.  A report by the National Association of Realtors (NAR)  states that 13% of home buyers purchased mutigenerational homes last year.  

There are several reasons prompting  buyers to invest in this type of housing.  Among them are:

  • They are looking for ways to care for aging parents (22%, up from 19% last year)
  • Cost saving (17%)
  • Children over 18 moving back home while they attend school or save for a down payment (16%, up from 14% last year)

This shift may also be a result of some social changes over the past several years.  The growth of racial and ethnic diversity in the U.S. explains some of this housing picture. Statistics indicate that the majority of the shared housing falls into these groups:

  • Asians (28%)
  • Hispanics (25%)
  • African-Americans (25%)
  • U.S. whites (15%)

The bottom line reads like this:  Multigenerational households are making a dramatic comeback.  At a time when housing prices continue to rise and housing inventory is at an all time low, this shift from the nuclear home offers a solution to many families today.

If you need financial assistance in purchasing your next home, and you do not qualify for a conventional loan, give us a call at 707-523-2099  We can help get you into the home that works for your family’s needs.

Superheroes Fund Not-Normal Loans

Got Superheros Both Broker And Broker When You Need A Fast Response And Faster Home Loan, We Are Here For You!  We Are Known For Our Ability To Provide Speedy Financing For Your Real Estate Needs.  

When you need a fast response and faster home loan, we are here for you!  We are known for our ability to provide speedy financing for your real estate needs.  

Known as Hard Money, these loans might enable you to bring that superhero offer to a Seller or to be the superhero Agent for your Home Buyer client.

We stand ready to help you, a client or someone you know with our “not-normal” loan programs! Call us today at 707-523-2099.

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

 

Recently Funded Not-Normal Loans:

 

Santa Rosa, California (Sonoma County)
Loan Amount: $568,000
Loan Program: Bridge loan
Loan To Value: 78%
Days To Fund: 12 days
Why Turned Down Elsewhere: Needed a fast loan

 

Orangevale, California (Sacramento County)
Loan Amount: $395,000
Loan Program: Owner Occupied Business Purpose
Loan To Value: 65%
Days To Fund: 19 days
Why Turned Down Elsewhere: Bankruptcy

 

South Lake Tahoe, California (El Dorado County)
Loan Amount: $311,000
Loan Program: Owner Occupied Temporary
Loan To Value: 64%
Days To Fund: 14 days
Why Turned Down Elsewhere: Property condition

 

Santa Rosa, California (Sonoma County)
Loan Amount: $460,000
Loan Program: Investment Property Purchase
Loan To Value: 60%
Days To Fund: 8 days
Why Turned Down Elsewhere: FICO issues

 

Vallejo, California (Solano County)
Loan Amount: $420,000
Loan Program: Investment Property Refinance
Loan To Value: 56%
Days To Fund: 24 days
Why Turned Down Elsewhere: Short sale

Arbitraries in Hard Money Lending

Office Staff Pic On January 11, 2018 Our Office Will Celebrate Having Done Loans For 30 Years.  We Have Personally Done And/Or Supervised Thousands And Thousands Of Loans.  We Have Almost Seen It All.  Not Too Much Surprises Us Anymore.

Arbitraries in Hard Money Lending

On January 11, 2018 our office will celebrate having done loans for 30 years.  We have personally done and/or supervised thousands and thousands of loans.  We have almost seen it all.  Not too much surprises us anymore.

So, what does the word arbitrary mean?  The dictionary states “based on random choice or personal whim, rather than any reason or system”.

The loans made through my office in the last 6 years, (since the “recession”) regardless of the credit, regardless of the income and regardless of the location, because the property has equity, have not been foreclosed upon in any significant number.  Foreclosures have been started (this is your remedy for non-payment), but only 2 have gone to the Court House steps.  Those 2 had equity and the lender got all his money and more.

The arbitraries on underwriting a loan are credit, income and location, but as Hard Money Lenders our main concern is equity.

During the recent recession there were foreclosures in great number and EVERYONE was hit –  from the 30 year fixed rate borrowers to the hard money borrowers.  Values plummeted.  During that period it was not credit or income that drove the foreclosure market, but plummeting equity.

So, in the main, we are looking for a loan approval by an individual, who serves as underwriter in their capacity as lender.  This approval process ranges from an investor giving a very quick, “I’ll do that loan.  When can I fund?” to the investor who has a list of conditions regarding credit, income and/or the property as long as your arm.  Many investors settle for the middle ground, simply wanting clarifications on the loan application or about the property.

The underwriting of a Hard Money loan should mainly involve the equity in the home, whether a purchase or refinance.  That is statistically what matters.  This is a fact borne out of the numbers, just from my office, regarding Hard Money in the last 6 years and from 30 years’ experience with every type of loan available.

My hope is that this “blog” will make the process a bit simpler for you as the investor, and make it easier for you to get your money out there faster because you did not have to pour over the credit or the income.

 

Loan of the Month – Helping People Makes Me Smile.

Jpeg Helping People Makes Me Smile.

Helping People Makes Me Smile.

We have been offering Hard Money Loans for almost 30 years now, and it still makes me happy to do what I do.

Earlier this month, a Homebuyer called in, looking for a quick loan on a home she wanted to purchase in San Diego.

She had contacted several other Hard Money Lenders, but because it was an owner-occupied purchase, she was not able to find a willing lender who could get her $455,000.

My office has a program for primary residence loans, and within 8 days, her loan was funded!

This transaction highlights one of our notable capabilities:  Fast closings.

Call us today at 707-523-2099 for fast, professional and expert Hard Money services.

How To Say Goodbye To Your Home

1 1 Since The Sonoma And Napa Fires We Have Been Forced To Think About Saying “Goodbye” To Many Things, Not The Least Of Which Is Our Home.  Those Who Are Fortunate Enough To Sell Their Home To A Willing Buyer, May Also Experience A Great Sense Of Loss.   Our Home Is The Place Where We Find Comfort And Security,  And Where We Have Made Hundreds Of Memories Over The Years We Have Lived There.

Since the Sonoma and Napa fires we have been forced to think about saying “Goodbye” to many things, not the least of which is our home.  Those who are fortunate enough to sell their home to a willing buyer, may also experience a great sense of loss.   Our home is the place where we find comfort and security,  and where we have made hundreds of memories over the years we have lived there.

So how might we say “Farewell, dear friend” to the four walls that have seen so much of our lives…our laughter, our tears, our sorrows and our happiness?  The following are just a few suggestions gleaned from some military families who have learned to leave their homes over and over when duty calls.

One family said it helps to visit each room together sharing a special memory associated with that space.  As you leave each room, say “Goodbye, room” and move on to the next.

Another helpful ritual is to take a photo of the house that you are leaving to help remember the years spent in that home.  Even better is videotaping each room before you move.  

And, lastly, rather than leaving behind gorgeous plants and fruit trees that you’ve spent years nurturing, take seeds with you as a way to carry your old home to your new home.

If you need help finding the financing for your next home and do not qualify for a conventional loan, give us a call at 707-523-2099

We Are Thankful For Being Able To Help Others With Our Loans

A Recent Hard Money Borrower Sent Us The Following:

“I wanted to thank you for your help in saving our home.

“Sun Pacific Mortgage and their hard money Lenders/Investors allowed us to save our home with a temporary hard money loan.  After going through a difficult financial time, we fell behind on our mortgage which prevented us from securing a conventional mortgage.   We were on the verge of making the difficult choice of selling our home or foreclosing, before contacting Sun Pacific Mortgage.

“The mortgage brokered by Sun Pacific Mortgage helped us save our home, which gave us time to clean up our credit.

“In addition, our Investor/Lender was flexible in extending our loan several months while we secured a conventional loan.  It was a win-win for everyone!

“After a two-year process, we are closing on a conventional refinance today!

“My family and I are eternally grateful for your service and the role Sun Pacific played in saving our home.

“Thank you again!” – Happy Borrower, D.B.

Don’t hesitate to call us at (707) 523-2099

Are You Asking “Should I Buy or Rent?”

1 It Is Surprising That Even With The Sustained Rise In Home Prices Over The Last Couple Of Years, Buying A Home Can Be Noticeably Less Expensive Than Renting One In The Bay Area.

It is surprising that even with the sustained rise in home prices over the last couple of years, buying a home can be noticeably less expensive than renting one in the Bay Area.

There was a recent study done that determined buying is 13% cheaper than renting a comparable home in the San Francisco Marin, and San Mateo counties. It jumps to 24% when you consider areas such as the Oakland area, which includes Alameda and Contra Costa counties.

Trulia does not see this picture changing significantly any time soon.  They predict a possible 2% decrease in the San Francisco housing market and 5.5% in the Oakland market.

But homeownership is much more than a comparison of mortgages vs. rents. In a study done by the California Association of Realtors, close to 75% of renters ranked homeownership as “important”.  Out of the group of renters surveyed, 44% said they were renting for financial reasons.  They regret the lack of equity building and the uncertainty of their monthly rental budget.

If you would like to cross over from “Renter” to “Owner”, but find yourself renting because you have credit issues, Sun Pacific Mortgage is here for you.  Our investors are more concerned with your ability to make your payments and the value of the property than in a credit score number, unlike traditional lending institutions.

If you would like to change your status from “Renter” to “Owner”, give us a call at 707-523-2099.

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