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Hard Money From The Right Agents!

Hard Money From The Right Agents

“My loan payoff with another lender is due in 3 weeks, but I need just a few more months to qualify for a conventional loan. Can you help me get a fast refinance?”

This borrower needed a temporary loan of $525,000 for a property in San Diego. Our Hard Money programs have no problem with performing quickly.  In just 10 days the old loan was paid off and the borrower was calmly working with his conventional lender towards qualifying for a long-term loan!

Call us at 707-523-2099 with any scenario or question you have.  Let us show you we are the right Hard Money agents for you and your clients!

Promoting Good News – Anti “Miserablism”

Promoting Good News

We attended the California Mortgage Association quarterly conference in Newport Beach from last Wednesday through Friday.  The Keynote Speaker was noted economist Christopher Thornberg from Beacon Economics.  On the current market place he states…  “This isn’t optimism, there is simply nothing out there at the moment, whether it’s the sell off in the stock market or rising interest rates, that has the power or speed to knock the expansion off its track; and apart from a rapidly growing Federal budget deficit, the U.S. economy looks fairly well-balanced in terms of the fundamentals.”  He further states that this includes “…private sector debt levels, consumer savings rates, rising wages, the overall pace of homebuilding and business investment.  Unemployment is low- but job growth remains steady.”

There are times at the office when we spot circumstances in the market place that manifest to us in our office statistics.  When we have a lot of promotional actions going on but the results are a complete change from what they would at other times bring about, we look for the “why”.

Thornberg hits the nail on the head with his term for what is occurring in spite of nothing but good financial news.  Miserablism.  That certainly rang true to me.  There is absolutely nothing wrong with the market that can’t be solved with the real news getting out that there – there is nothing but good news on most fronts.  I blame the press, but it does no real good.  What I can do, and we all should do, is spread the news that it is a good time to buy, it’s a great time to sell.  it’s a good time to borrow.  Fund that kids college fund.  Do those home improvements.  Fund your retirement fund and then pay it off.  Buy a rental property.  Buy your dream home.  Get a boat, a motor home.  Go on a dream vacation.

I have a suggestion.  Stop listening to the press.  Instead promote the actual statistics.  They tell the true tale of what is going on.

On a more individual level, I am going to do all my prior successful actions without fail.  I’m going to get out more marketing.  I’m going to ask for big loans.  I’m going to ask for referrals.  I’m going to be quicker with responses.

Above all, I am going to have and promote a positive attitude knowing that this is the best economic times I personally have been involved with in my 31 years of doing home loans.   I’ll bet that’s true for you too.

So spread the good news that there is nothing but good news.  It will have the desired effect which is just to get people doing what they would actually be doing if they weren’t miserable!

By the way, send me any Hard Money scenarios you may have and I’ll get you a quick proposal.

What’s New in Home Design for 2019?

What’s New In Home Design For 2019

A recent article based on the remodeling and design platform, Houzz, forecast some trends to look for in the coming year.  With HGTV shows continuing to capture our imaginations and wallets, we might want to know that we are in step with the design world.

Here are some examples of the forecasted changes:

  • Full-height backsplashes extending all the way to the ceiling behind open shelving and range hoods is one of the newer concepts being adopted in kitchen design.
  • Although Living Coral was chosen to be Pantone’s color of the year, the experts see moodier colors, like navy and forest green, as the shade of choice for homeowners.  People are becoming more comfortable experimenting with rich or darker colors.
  • Open spa-like bathrooms are making up 80% of the remodels according to Houzz.  Soaking tubs was the most popular option even if it meant stealing space from the closet or bedroom.
  • Moving from white to black kitchens is another popular choice for 2019.  White kitchens have made it difficult to keep clean if you have children and/or dogs, so remodelers are opting for the “tuxedo” kitchen with contrasting black cabinets and white walls.
  • Free-standing padded dining benches have replaced the built-in, more expensive benches of the past.  These new benches can provide flexible seating and hidden storage.
  • A four-wall accent color is replacing the bold-colored feature wall.  It even includes the trim and molding. This trend seems to be happening in smaller rooms, like a bedroom, study or media room.

These six examples of home remodeling choices are some of the possible options you may want to experiment with in the new year.  If you need funds to finance your DIY efforts, and if you do not qualify for a conventional loan, Sun Pacific Mortgage is here with a Hard Money loan to support your artistic endeavors.

 

Is 2019 the Year to Become a Homeowner or an Investor?

Is 2019 The Year To Become A Homeowner Or An Investor

According to a majority of expert real estate prognosticators, 2019 will continue to bring a rise in home prices, as well as an increase in inventory.  All four major reporting agencies believe that home sales will outpace 2018. Studies show that 65% of Americans continue to believe that home-ownership is a good investment.

With the average home rental in California ringing in at $2500 per month, home-ownership is looking more and more attractive. The Millennials (ages 19-35) have been the driving force behind bidding wars in many areas of California, as they cast off their renter lifestyles and opt for putting down roots in a community.  The Millennial factor is a major reason 2019’s housing market will continue its healthy growth.

In case you are wondering how the 2019 real estate market is shaping up and compares to past years, C.A.R. (California Association of Realtors) released this California housing summary:

2019 California Housing Forecast

If you’re already a homeowner or real estate investor, good for you!  On the other hand, if you are adding to your landlord’s wealth instead of your own, let 2019 be the year you start accumulating your own retirement nest egg.  Leave the rental market and purchase a home. Someone is going to profit from California real estate this year, make it be you!

Sun Pacific Mortgage will be here today and in the foreseeable future to support your housing and investment needs.  We look forward to your call at (707) 523-2099.

Loan of The Week – Super Fast

Loan Of The Week Super Fast

A Mortgage Broker reached out to us for a client who needed additional funds to complete a commercial property remodel.  He was on a time crunch due to prior contracts with his tenants, so needed a fast loan.

The building was in San Fernando Valley and the owner needed $805,000.  Due to property condition, he wasn’t getting loan approval. Our Hard Money programs had no issues with this and in just 13 days, this owner had his loan and was back to finishing his remodel!

Call us at 707-523-2099 with any scenario or question you may have.  We are ready to get your big loan done super-fast!

Is Trust Deed Investing for You in 2019?

Is Trust Deed Investing For You In 2019

Investing in Deeds of Trusts has been around for quite some time.  In the most simplistic terms, loans made via these real estate investments are like mortgages, except that there is an investor or pool of investors making the loan instead of a bank or lending institution.  

Trust deed investing can provide high returns.  In fact, private investments in trust deeds typically yield investors returns between 9% and 14% depending on the amount of risk. What makes trust deeds considered safer than stocks is the fact that these investments are secured equity, title insurance and a recorded trust deed.   While these are not necessarily liquid, the majority of such loans are for a shorter period of time, maturing in 12 to 24 months.

Unlike stocks, individual trust deed offerings offer investors a greater deal of control in their investment decisions.  Investors with Sun Pacific Mortgage are given all the relevant information regarding the subject property and the potential buyer. Investors can pick and choose loans based on the level of risk they are willing to take.  We provide all the information our investors need to make an informed, specific decision.

Sun Pacific Mortgage has been in business offering Hard Money Loans for 31 years.  

We have been able to help multitudes of home buyers and work with hundreds of private investors who increased their return on investments.  Much of our success is because we perform our due diligence before offering any trust deeds to our investors.

This makes it easier for them to determine their level of risk and to feel more secure in their business dealings with us.

Give us a call at 707-523-2099 or visit our investor information on our website to explore our investor program and learn how you can improve your financial picture in 2019 by diversifying your investment portfolio with our trust deeds.

Winter Brings Out The Serious Buyers

Winter Brings Out The Serious Buyers

If someone is out looking for homes in the winter season, it is usually a sign that they mean business.  So how do you, as the Seller, take advantage of this available market?

Start by making sure that the exterior of you home is as warm and inviting as the interior.  Bare trees make for a more exposed home, so freshen up the outside of your home by keeping the gutters clean and sprucing up the yard.  Keep those leaves raked and the lawn alive.

Price your home to sell.  Rather than gradually making small price reductions, which could make you look desperate, get with your local & experienced Realtor and properly price your home before you list.  This strategy encourages multiple offers! It’s far better to have your buyers competing over your property than having you going back-and-forth over the purchase price, with your prospective buyer.

Remove most or all (if possible) of your personal décor.  Staging is one time when the maxim “less is more” should be the watch word.  If your living room area is a small space, arrange your furniture so that there is ample room to maneuver through and around the room.  Group your furniture into conversational zones to make your home feel cozy and inviting. Don’t be stingy with the heat during showings.  A warm, pleasant smelling house can go a long way toward influencing your prospective buyers. Crank up the heat, bake some yummy cookies, play soft music, burn scented candles, etc. to set an ambiance that makes your buyer want to move in.

As “Winter Sellers” you enjoy an enthusiastic audience with “Winter Buyers”. These prospective clients would not be trudging around in the rain, cold and wind if they were not ready and willing to make an offer on the right property!  Make your home the property they want by listing now and following the suggestions above on presenting your home in the best possible winter light.

Hope this helps get you that fast sale!

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!

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.

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