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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.

Let’s Be Clear: Hard Money Is Fast!

November 27, 2019

Transparency

Transparency from an expert lender assures faster funding and piece of mind.

With us, you now have a resource to handle almost any Homebuyer or Borrower profile that is less than “A” quality, and still get reasonable rates:

– 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 past borrower of ours called us up, in need of fast financing. He owned a few investment properties in Napa County that were free & clear and wanted to use this   available equity to pull cash out for additional funds he needed for business capital.

With a 66% loan to value, he was hoping to get a $525,000 loan.  We easily got approval on the same day and, to the borrower’s delight, funded this loan within just 48 hours!

If you have any questions or scenarios, call us at 707-523-2099.  We will quickly get back to you and make it clear how we can help!

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

Furniture Arrangement Matters

November 25, 2019

Furniture Arrangement Matters

It is important to consider the use of the space when designing furniture placement in a home. Be it staging a house to sell quicker or catch a higher purchase price; How about setting up one’s home for better comfort and entertainment. 

Furniture makes the room, but the placement of the furniture matters just as much as the individual pieces.  Placement sets the mood of the room and signals the overall tone. To state the obvious, too many pieces of furniture in a room can cause the layout to feel cramped.  For instance, if when entering a room, you immediately walk into the back of a chair or sofa, the space will feel closed off and uninviting. Each piece of furniture should have its own space to breathe.

Pathways within a room should feel natural and provide the best flow within the room as well as between rooms.  Space between the sofa and coffee table, as well as the sofa and an accent table, should allow room to walk around. This placement will make the room feel much lighter.

Strategic placement of seating in the TV room is paramount for optimal viewing. With that in mind, place your couch parallel to the TV and angle the side chairs on each end with a table available for drinks and food.  

Balancing the weight in the room is an easy way to create visual flow.  Too many chunky pieces (e.g. sofas) need a more delicate coffee table to help the room from becoming too heavy.  Pops of color and similar shapes are other ways to tie together the look of a room.

In the bedroom it is best to focus on maximizing comfort and functionality.  For instance, it should be easy to get in and out of the bed, even in the middle of the night, without stubbing your toe on the dresser.  Additionally, there must be enough space to fully open dresser drawers.  

The dining room should have enough space to circulate around the table comfortable for food and plate delivery.  And there should be enough space to get in and out of chairs comfortably.

Measuring your space before purchasing a new piece of furniture is advisable in order to save yourself heartache and money.  Otherwise, that sofa you fell in love with, in the store may become a decision you regret for a long time!

 

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. 

Smart Home Gadgets to Increase Your Rental’s Appeal

November 13, 2019

Smart Home Gadgets To Increase Your Rental’s Appeal

If you are looking to upgrade your rental property without spending a fortune, here are some high-to-moderate tech improvements you can implement that can appeal to potential renters: 

  • Smart Door Locks-$200:  These allow the renter to remotely lock and unlock the doors with a mobile app allowing contractors to access the property without a key.  It also records who enters the property when. 
  • Smart Thermostats-$200:  The most important benefit of this improvement is the potential to save energy when no one is home.  They are also controllable by a smartphone. (example: Nest)
  • Smart Security System-$200:  These systems allow you to monitor what’s going on at home from anywhere.  You can also set up alerts to notify you if motion or sound is detected. (example:  Canary)
  • Smart Smoke & CO Detectors-$100:  False alarms can be silenced through your mobile app.  This feature is especially appreciated when you burn dinner, and your smoke alarm shrilly announces it to the entire neighborhood.  Low battery chirps can be controlled, too. 

 

These suggestions can also be implemented in your own home to simplify your life and add a sense of security.  

If you want more information on these gadgets see:   https://www.biggerpockets.com/blog/2016-07-07-landlords-invest-smart-home-tech7-gadgets

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%.

What Are Buyers Looking for in Homes Today?

November 5, 2019

What Are Buyers Looking For In Homes Today 1

Sellers are always curious about what features will make their home stand out to possible buyers.  Based on a recent survey conducted by realtor.com, Millennials are more interested in a big backyard than air conditioning.  Other findings included:

  • Updated kitchens with new appliances are more important than updated bathrooms.  Most people surveyed ranked updated kitchens in their top three features.
  • Some results were skewed one way or the other dependent on the age of the buyer.  For instance, Millennials, who are just starting families, prefer a larger yard, while the Silent Generation (72 years and older) prefer an updated kitchen.
  • Boomers were more interested in the community around the property, while the Silent Generation wanted to be close to health facilities.
  • Millennials also placed top schools high on their wish list.
  • All groups ranked quality grocery stores near the top of their list.

Millennials had several definite “don’t care about” items on their list:

  • They don’t want “fussy” landscapes.  With family time at a premium, they are looking for easy to maintain outdoor space.
  • This group of buyers enjoy cooking and eating in their kitchen and consider the formal dining room an unnecessary room.
  • Millennials want wide-open spaces inside their home, no more mapped out floor plans. They are looking for multifunctional rooms.
  • Millennials are moving away from carpeting in favor of bare floors with statement rugs.  They consider this type of floor covering pet-friendly and childproof.
  • Since Millennials are more attached to their digital world, a media room with a large TV and even surround sound is more appealing to them than “game rooms”.  

Keeping these surveys in mind before you list may help move your property  faster than your competition.  

Getting Back To Work To Support Our Community

October 30, 2019

Getting Back To Work

Pushing ourselves and others back to work to provide needed services to our community is valuable – and very appreciated we have discovered!   

Things may seem bleak with the Kincade fire, many evacuations and power outages but it’s up to us to create some good.   With a team effort we can strengthen our community. Immense thanks to all First Responders…and many thanks to those who are back in business to service our community despite it all:

To Local Business Heroes – Thank You!

– Golden State Overnight mail delivery services is up and running with an early morning delivery from a happy worker!

– Local company Signs Par Excellence business owner, Michael Flanagan said “I opened this morning because my employees want to work and I know there are customers who are expecting us to deliver.”

– Some places may feel like it’s a ghost town but there are restaurants open for business!  Mary’s Pizza Shack in downtown Santa Rosa was super busy at lunch. Port of Sub on West College was also open and busy serving happy customers. There are places open so get on out and enjoy yummy, hot lunches and dinners!

– Today most of Mendocino Ave businesses & stores are closed.  But not us at Sun Pacific Mortgage!  We’re working to complete loan transactions by end of month for all the Borrowers & Buyers who still hope to close on a new home or loan!

If we can be of service with our fast Hard Money loan programs, just call us at 707-523-2099.  We’re here to help.

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