Hard money (aka. Private Mortgages) is essential in California’s top county real estate markets – such as Sonoma, Marin, Santa Cruz, San Luis Obispo and others – for several powerful reasons.

We know our real estate market has always been fast paced and competitive, making the cumbersome approval process and strenuous qualifying demands from lenders a serious stumbling block for many a borrower. A number of these qualifying problems can be solved for buyers & borrowers, with a private money loan to finance their property investments – be it a purchase or refinance.

Hard money allows far more flexibility than other conventional types of financing without the hassles of institutional lending. It allows for quick access to capital so that investors can secure opportunities and address time-sensitive projects without the nail-biting associated with conventional lending.

Additionally, private money lending is a viable option for borrowers who may not meet the strict criteria of conventional lenders. Because borrowers may access this type of loan for different real estate purposes, e.g., owner-occupied residential, commercial real estate, and land opportunities, they can benefit from the flexibility and speed of a private mortgage making it a significant element in California’s real estate market.

When you need cash but don’t have the savings, there are some solutions to still getting the extra money you want. You can use a credit card, take out a personal loan, or even borrow from a friend or family member. If you’re a homeowner, you have yet another option: a cash-out refinance. With a cash-out refinance, you can turn your home’s equity into cash, using it for any expense or bill you might need.

With the impressive equity gain most homeowners have experienced over the past couple of years, more people are opting to access their newly acquired wealth to fund home improvements or business ventures.

With a cash-out refinance, you take out a new mortgage loan with a higher balance than your current one. Then, that new loan is used to pay off the old one, replacing it entirely. The difference between the new loan amount and your old mortgage balance is given to you in cash. There is an additional bonus when you itemize your returns on your income tax filing because you can write off the interest you pay on the cash-out refinancing.

If a cash-out mortgage is an option for you and could help with your present financial endeavors, consider a privately funded loan from Sun Pacific Mortgage. We offer mortgage loans to borrowers who have been turned down by conventional lenders but would like to access their equity.

You can find us at www.sunpacificmortgage.com or call us at 707-523-2099.

Make this month less stressful for yourself, by taking advantage of our FAST Private Money Loan Programs – just as was done below

Recently Funded

Program: Owner-Occupied Refinance for Business Purpose
Loan Size: $825,000
Loan to value: 55%
Location: San Jose, CA
Why Come To Us: Wasn’t fully completed with construction of an investment property so wanted to refinance with cash out so could optimize his return on investment.

Program: Primary Residence Purchase
Loan Size: $916,000
Loan to value: 55%
Location: Contra Costa, CA
Why Come To Us: Difficult to prove income as self employed.

Program: Rental Property Refinance/Cash-Out
Loan Size: $500,000
Loan to value: 52%
Location: Sebastopol, CA
Why Come To Us: Needed fast financing to buy out a family member on an inherited home.

Need a sigh of re-leaf and don’t know where else to turn to? Give us a call at 707-523-2099 or visit our website www.sunpacificmortgage.com with any questions or scenarios.  We’ll quickly answer with what we can do to help!

Are you, a family member or friend trying to buy or refinance a house – and need this done fast or are having difficulty with financial approval elsewhere? If so, we can help – we’re direct lenders.

At our family owned and operated company, we have helped well over 10,000 Borrowers & Buyers with our FAST Private Money Programs – just like we did below:

Loan of the Week

A Buyer and her Agent from San Mateo County reached out to us, desperate to save a home purchase. The Buyer was in Escrow but had just been turned down by Underwriting, due to some last-minute credit issue.  $1Million was needed immediately and with the Borrower’s big down payment and lower LTV, we quickly got this loan approved and funded in just 11 days!

If you, a family member or friend are in need of fast financing or having difficulty qualifying for a home loan, you or them can call us at 707-523-2099 or visit our website www.sunpacificmortgage.com.  We will quickly let you know what we can do to help.

An article in NerdWallet caught my attention recently. It stated that the era of low mortgage rates is over and embracing this reality will speed up owning a house that meets your needs.

Low rates were the norm for 11 years, as the 30-year mortgage remained below 5% from February 2011 to April 2022. Since that time, it has remained mostly above 5% averaging 6.72% in June 2023. And now in August of 2023 it’s gone up just above 7%.

Buyers are tempted to be in denial, but the reality is higher rates are here to stay for the near future.

“People are still working through their five stages of grief on this mortgage rate stuff,” says Lisa Sturtevant, chief economist for Bright MLS, the real estate listing service for the mid-Atlantic region. “And I think you have to reach the stage of acceptance at some point that certainly rates aren’t going to come down to where we were back during 2020 and 2021.” (When the median 30-year rate was 2.99%.)

Real Estate still remains a strong investment – as a first time homebuyer, homebuyer looking to downsize and even for investors. If you are looking to increase the strength of your purchase offer and make it a faster close with the next best thing to an all-cash offer, consider a privately funded loan from the investors at Sun Pacific Mortgage. Call us at 707-523-2099 or find us at www.sunpacificmortgage.com.