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Get a Head Start on the Holidays with Hard Money

October 2, 2014

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Mortgage Rates – Its How You View The Outcome

As you have seen, the housing market values are only going up.   Despite news about rates increasing, the interest rates are still within the range of 50 year lows!  The bottom in home prices and interest rates has passed. Waiting no longer makes sense.

I have saved the bacon for agents and conventional lenders on multiple transactions this year, closing many of them in a week.  I have also helped many, many individuals (and families) over the years consolidate their debts or get a loan against their existing equity for use over the Holidays.  It is always a nice feeling to have extra cash over the Holidays either to make it less stressful or to be able to give more.  If turned down elsewhere, I most likely can help if they have a decent down payment or other equity to work with.

Basically considered “all cash”, such loans are extra strong and can be used to purchase or refinance dump property, bad credit

borrower, irregular income borrower, large cash out borrower, Bridge loans, etc.

Some timely articles make good mention on the value of homeownership:

Fannie Mae “Homes have accounted for 23.5% of American’s wealth on average since 1959. That’s nearly double the proportion U.S. households and nonprofits have invested in stocks.”

Wall Street Journal “A measure of owners’ equity as a share of the value of real-estate holdings hit 53.6% in the second quarter, up from 53.2% in the first quarter and below 50% a year earlier. For most Americans, a home is their biggest asset, so the growing level of home equity suggests improvements in the economy are now reaching more Americans.”

If rents go up in the next 30 years at the same rate they did over the prior 30 years then someone renting today for $1,600 will be paying $4,496 in 30 years. Why rent when you could buy?

Don’t be 30 years older, paying an outrageous rent and no accumulated wealth because you paid your landlords mortgage for all that time.  An increase in rates will obviously impact each home owner’s monthly mortgage payment so if you wait, you will end up just having to pay more!

Whether you get a hard money loan to purchase your home now or you get a bank loan, it has the same outcome: Home ownership is not only desirable, it is the correct financial decision to make right now.

Best,

 Broker

Approval is based on just 2 criteria:

1. Good Down Payment or Decent Equity

2. Ability to Repay

• FAST private money purchase financing throughout California.

• Owner Occupied, Investor financing, Commercial and some Land Financing

• FICO is not a factor.

• Up to 75% loan to value, Case by case basis.

• Loan amounts starting at $100,000.

• Lower rates with Good Compensating Factors, Case by case basis.

• Fast refinancing.

SPECIAL NOTE: WE CAN DO A LOAN FOR SOMEONE FRESH OUT OF FORECLOSURE, BANKRUPTCY OR SHORT SALE!

CALL FOREST, The Guy In The White Hat at (707) 523-2099

Or email him at forest@sunpacmortgage.com

See our website at: www.sunpacmortgage.com

Jpeg (Click Or Tap Here To View The Video)Png (Click Or Tap Here To View The Video)

Png (Click Or Tap Here To View The Video)

       Hard Money Lender Serving Sonoma county since 1988!

800 Mendocino Ave. Ste 2
Santa Rosa, CA 95401
(707) 523-2099
www.sunpacmortgage.com

CA BRE Broker – California Bureau of Real Estate Broker.   Corporate License # 01464899.

NMLS – Nationwide Mortgage Licensing (Registry) System.  Office NMLS # 360993

Hard Money Loans Rescue Home Buyers & Home Owners

September 18, 2014

 

Hard Money Loans Rescue

Home Buyers & Home Owners

Jpeg Hard Money Loans Rescue

Hello again!

 

I always like to push the idea of home ownership.  It is still the best financial investment you can make at any time in

your life, so don’t give up if you are trying to buy!

 

In recent Trulia and Keeping Current Matters articles, the subject of Renting versus Buying was brought up; These articles pretty well covered why homeownership remains more economical than renting, throughout the United States. Nationwide, owning is 38% cheaper than renting! 

 

With a Hard Money loan from us, a family was rescued on their home purchase which they were about to lose out on:

 

The Purchase price of the new home was $234,000. They put down 30% of the purchase price ($70,200) and got a hard money loan of 70% LTV ($163,800).  While working to refinance, the Buyers paid 10.5% interest rate for six months ($1,719 monthly) and finally were able to qualify for a conventional loan.  They now pay $1,300 with taxes & insurance included. Their old apartment rent was $1,200 – just $100 less but now they live in their own home!

 

When your Lender, Broker or Realtor tell you “it is the time to buy”, they speak the truth. 

Best,

Broker

P.S. – We love referrals! 

RECENTLY FUNDED HARD MONEY LOANS

(Great Hard Money rates as low as 8.5%*!)

NOTE: Get a loan despite poor credit, self employed-difficult to prove income, need fast financing, property a fixer, etc!  And, we finance Bridge loans, Owner Occupied purchases and refinances, non-owner purchases single and multiple units, commercial and some land. 

Jpeg Hard Money Loans Rescue

Approval is based on just 2 criteria:

 1. Good Down Payment or Decent Equity    

2. Ability to Repay

• FAST private money purchase financing throughout California.

• Owner Occupied, Investor financing, Commercial and some Land financing.

• FICO is not a factor.

• Up to 80% loan-to-value, case by case basis.

• Loan amounts starting at $100,000.

• Lower rates with Good Compensating Factors, case by case basis.

• Fast refinancing. 

SPECIAL NOTE: We can do a loan for someone fresh out of foreclosure, bankruptcy, or short sale!

CALL FOREST, The Guy In The White Hat at

(707) 523-2099

Or email him at forest@sunpacmortgage.com

See our website at: www.sunpacmortgage.com

Png Hard Money Loans Rescue

Png Hard Money Loans Rescue

       Hard Money Lender Serving Sonoma county since 1988!

800 Mendocino Ave. Ste 2

Santa Rosa, CA 95401

(707) 523-2099
www.sunpacmortgage.com

CA BRE Broker – California Bureau of Real Estate Broker.   Corporate License # 01464899.

NMLS – Nationwide Mortgage Licensing (Registry) System.  Office NMLS # 360993

 

 

Private Mortgage Investing Is Ripe – Especially With Us!

September 18, 2014

What a great time to be a Hard Money Investor, property values are just continuing to go up. Since 2012 private money loan borrowers has only been increasing as it’s the only game in town after B of A and Wells Fargo tell the Borrower “no”. Borrowers who have poor credit or difficult-to-prove income due to being self employed but have a decent down payment or existing equity know that they can most likely get a loan from us, despite being turned down elsewhere.

Anyone with money can invest and become a Private Mortgage Investor. It’s easier than you would think.

As the Broker of Sun Pacific Mortgage & Real Estate, I have dealt with Private Investors for over 25 years and we have become known for our integrity and honesty. Numerous friendships have been formed not only with Investors but with our Borrowers, due to the smoothness and honesty of service to both.

Becoming a Private Investor can earn you upwards of 13% in return by investing in mortgages. And by investing in real estate mortgages your investment is secured. Investing in mortgages isn’t only buying or selling of mortgages at a discount. It includes directly lending your hard money to individuals and securing that loan with a mortgage against their real estate.

I promote purchase loans as well as refinance loans and these can be at any LTV up to 75%. Right now the predominant offerings are purchase loans with 30% down. These loans should be made as the security is at its lowest valuation in years and the Buyer is putting 30% down. With that down payment, there is plenty of protective equity. Further, with that down payment the homeowner is not likely to walk away from the property.

As a Private Investor you can set the yield on the promissory note with the interest rate, points and prepayment penalties. Many individuals have started or are continuing as a Private Mortgager Investor as they can secure a consistent monthly income from it. It can be an excellent cash flow for someone retired or looking to set up their retirement funds.

For example, a private investment recently done for an individual to buy a home came to $196,000 with a rate of 12% and the Investor gets a monthly return of $1,960. Homeowner is very happy and intends to refinance down the line for lower rate but gets the home they’ve been searching for!

A Private Mortgage Investor is also known as:

  1. Private Mortgage Lender
  2. Hard Money Investor
  3. Hard Money Lender

 

These are all private individuals lending their money directly to the borrower with a promissory note with interest rates, points and prepayment penalties the investor sets, and securing that promissory note with a real estate mortgage.

Private Mortgage Investing is ripe. Time to jump on the bandwagon with Sun Pacific Mortgage & Real Estate and get a good taste!

If you are interested in investing with us then Call Our Office at (707) 523-2099 and ask to speak to me, FOREST – The Guy in the White Hat!

 

Hard Money Rescues Turned Down Loans

August 29, 2014

Check out our most recent Hard Money video here:

 

Hard Money Rescues Turned Down Loans

 

Jpeg Check Out Our Most Recent Hard Money Video Here:

If you feel like your loan application is drowning, soon to “die” by getting
turned down, then you need to watch this video of how I can rescue such a loan.

Real Estate loans can be hard to get for some with poorer credit, who are self
employed, had a recent foreclosure or bankruptcy. Or, you may just need a fast
loan and can’t find an “A” paper Lender who can fund fast.

This sounds like your loan request needs to be rescued, so call me, Broker – The
Guy in the White Hat! (707) 523-2099.

I can help with those drowning loans! For well over 25 years I have been
specializing in loans to Borrowers who have been “Turned Down Elsewhere” as well
as offering all other types of loans. For the last 4 or 5 years I have only
done Hard Money Loans. Recently, about 70% of the loans I have funded I had to
rescue from “A” paper lenders as they were declined for whatever reason.

There are really just 2 requirements for a Hard Money Loan: #1 You have to have
a pretty good down payment for a purchase or equity if a refinance and #2 The
ability to repay the loan.

Call me! Hope to be able to help you soon!

 

Best,

Broker

P.S. – We love referrals!

 

Loan approval is based on just 2 criteria:

1. Good Down Payment or Decent Equity

2. Ability to Repay

 

• Owner Occupied, Investor financing, Commercial and some Land Financing

• FAST private money purchase financing Sonoma County & Northern California.
• FICO is not a factor.
• Up to 80% loan to value, Case by case basis.
• Loan amounts from $75k – $1mil+
• Lower rates with Good Compensating Factors, Case by case basis.
• Fast refinancing.

CALL FOREST, The Guy In The White Hat at (707) 523-2099;

Or email him at forest@sunpacmortgage.com

See our website at: www.sunpacmortgage.com

 

CA BRE Broker – California Bureau of Real Estate Broker.   Corporate License # 01464899.

NMLS – Nationwide Mortgage Licensing (Registry) System.  Office NMLS # 360993

*APR based on loan amount of $130,000 is 9.469%.

Hard Money Loan Saver

June 27, 2014

Check out our most recent Hard Money video here:

 

Hard Money More Attractive than Ever

 

Jpeg Check Out Our Most Recent Hard Money Video Here:

Hello,

My last blog was the Federal and California report and forecast.

I live and operate in Sonoma County so that is the first region I’ll explore.  I would guess that about 33% of the loans I write are in Sonoma County.  That’s a disproportionate amount considering I lend in the top half of the state, from Salinas to the Oregon border and east to Nevada.

Lots of good news to report for Sonoma County. There was an Economic Development Board report in April 2014 that demonstrated Sonoma County business activity beats the U.S. average as a whole in expenditures for growth and customer demand. The trend is upward for commercial-sector confidence.

Another report from March 18, 2014 stated that Sonoma County’s economy is poised to further recover through 2015, bolstered by national growth that will spur gains in tourism and the wine industry, while additional support comes from, among other things, a stronger housing market.

In the Sonoma County real estate market, as in a lot of the counties in the Bay area,  prices are being driven up sharply by the lack of inventory.  This is good news if you are already into a home, but could make it difficult if you are looking to buy, either as your first purchase or trading up.  You should keep in mind that using Hard Money in this market may make your offer more attractive to a Seller – and their agent, as in many instances it is deemed the same as cash.

So that’s the report on Sonoma County.   And if you are trying to buy, persist.  Home ownership is still the best financial investment you can make at any time in your life.

 

Best,

Broker

P.S. – We love referrals!

 

Loan approval is based on just 2 criteria:

1. Good Down Payment or Decent Equity

2. Ability to Repay

 

• Owner Occupied, Investor financing, Commercial and some Land Financing

• FAST private money purchase financing Sonoma County & Northern California.
• FICO is not a factor.
• Up to 80% loan to value, Case by case basis.
• Loan amounts from $75k – $1mil+
• Lower rates with Good Compensating Factors, Case by case basis.
• Fast refinancing.

CALL FOREST, The Guy In The White Hat at (707) 523-2099;

Or email him at forest@sunpacmortgage.com

See our website at: www.sunpacmortgage.com

 

CA BRE Broker – California Bureau of Real Estate Broker.   Corporate License # 01464899.

NMLS – Nationwide Mortgage Licensing (Registry) System.  Office NMLS # 360993

*APR based on loan amount of $130,000 is 9.469%.

5 Reasons to Hire a Real Estate Professional

February 7, 2014

I saw this article from The KCM Blog and rang very true: 5 Reasons to Hire a Real Estate Professional
http://www.keepingcurrentmatters.com/2013/10/02/5-reasons-to-hire-a-real-estate-professional/

“The real estate market is a place where most people will make their largest investment ever. It is a place where fortunes can be, and often are, made. It is not a place, however, for you to ‘wing it’.

“While the myriad TV shows about real estate make the process look so simple – it’s not really that simple… they make it seem like all you need to do is slap a for sale by owner sign in the yard, have one open house with fresh flowers and fresh baked cookies and bam! SOLD! in one day….

“You need a professional, full time, well educated, ethical and trustworthy REALTOR to represent you whether buying or selling real estate.”

5-Reasons To Hire A Re Pro Image

In my 26 years working in Real Estate I can tell you that you’re better off hiring a Real Estate Pro. I know from first-hand experience the amount of paper work and negotiations you need to do to own a home is sometimes overwhelming to a Home Buyer. And beyond paperwork, there is the experience of being a RE Pro that you will want on your side.

I’m sharing this article with you in hopes to assist in your home buying experience. I’ve seen people try to go about buying a house without an Agent and usually it winds up in heart ache.

Best,
Lynn

Owner is Co-Owner/ Realtor® and Flipper Chick of Sun Pacific Mortgage and Real Estate, family owned and run since 1988 in Northern CA. www.sunpacmortgage.com. BRE license #01464899

2014 is the Year of Hard Money Loans

February 6, 2014

 

2014 is the Year of Hard Money Loans from The Guy in the White Hat

Jpeg 2014 Is The Year Of Hard Money Loans From The Guy In The White HatHello,

Preview of coming attractions!  I will have a future, more exact  Blog on the recent changes to Hard Money lending – High Cost loans.  For now, I have taken all in stride and will continue to promote Hard Money loans that fully conform to all the changes. 

Most of the changes impact Owner Occupied loans and none are horrible.  Some key things that will be different in my Owner Occupied Program…  1.  All Borrowers have to do Credit Counseling through an approved agency before the loan can fund.  2.  The loans cannot have balloon payments.  I propose a 15 year that is interest only for the first 7 years and fully amortizes over the remaining 8 years.  3.  They cannot have prepayment penalties.  4.  Late fee maximum is 4% after 15 days.

I’ve listed below recent Hard Money loans financed through my office and hope these give you a better idea as to how I can help you and/or your clients. I will keep the loans coming!

Best,

Broker

RECENTLY FUNDED HARD MONEY LOANS

Great Private Money Rates as low as 8.5%*!

Jpeg 2014 Is The Year Of Hard Money Loans From The Guy In The White Hat

Guerneville, California 
Loan Type: 2nd Non-Owner Cash-Out
Loan Amount: $96,000
Days to fund: 6 days!
Reason for hard money loan: Multiple Properties Owned

Jpeg 2014 Is The Year Of Hard Money Loans From The Guy In The White Hat

Santa Rosa, California 
Loan Type: Bridge Loan (1st & 2nd) 
Loan Amount: $464,000 & $85,000
Days to fund: 14 days!
Reason for hard money loan: Self Employed

Jpeg 2014 Is The Year Of Hard Money Loans From The Guy In The White Hat

Sonoma, California
Loan Type: 2nd Home
Loan Amount: $110,000
Days to fund: 15 days
Reason for hard money loan: Needed Fast Financing

Jpeg 2014 Is The Year Of Hard Money Loans From The Guy In The White Hat

Vallejo, California 
Loan Type: Owner Occupied Cash-Out Refinance
Loan Amount: $140,000
Days to fund: 13 days!
Reason for hard money loan: Condition of property

Jpeg 2014 Is The Year Of Hard Money Loans From The Guy In The White Hat

Cloverdale, California 
Loan Type: Owner Occupied Purchase
Loan Amount: $503,200
Days to fund: 15 days
Reason for hard money loan: Poor Credit

Jpeg 2014 Is The Year Of Hard Money Loans From The Guy In The White Hat

Ukiah, California 
Loan Type: Owner Occupied Purchase
Loan Amount: $112,500
Days to fund: 17 days
Reason for hard money loan: Poor credit
Jpeg 2014 Is The Year Of Hard Money Loans From The Guy In The White Hat
South Lake Tahoe, California
Loan Type: Non-Owner Purchase
Loan Amount: $200,000
Days to fund: 20 days
Reason for hard money loan: Self Employed

Jpeg 2014 Is The Year Of Hard Money Loans From The Guy In The White Hat

El Cerrito, California 
Loan Type: Owner Occupied Purchase
Loan Amount: $418,000
Days to fund: 14 days!
Reason for hard money loan: Condition of property

Loan approval is based on just 2 criteria:

 1. Good Down Payment or Decent Equity    

2. Ability to Repay

•Owner Occupied, Investor financing, Commercial and some Land financing.

•FAST private money purchase financing Sonoma County & Northern CA
•FICO is not a factor.
•Up to 80% loan-to-value – Case by case basis.
•Loan amounts from $75,000 – $1mil+.
•Lower rates with Good Compensating Factors – Case by case basis.
•Fast refinancing. 

SPECIAL NOTE: WE CAN DO A LOAN FOR SOMEONE FRESH OUT OF FORECLOSURE, BANKRUPTCY OR SHORT SALE!

CALL FOREST – The Guy In The White Hat – at (707) 523-2099;

Or email him at forest@sunpacmortgage.com

See our website at: www.sunpacmortgage.com

Png 2014 Is The Year Of Hard Money Loans From The Guy In The White HatJpeg 2014 Is The Year Of Hard Money Loans From The Guy In The White Hat

       Hard Money Lender Serving Sonoma county since 1988!

800 Mendocino Ave. Ste 2

Santa Rosa, CA 95401

(707) 523-2099

www.sunpacmortgage.com

*APR based on loan amount of $130,000 is 9.469%.

CA BRE Broker – California Department of Real Estate Broker.   Corporate License # 01464899.

NMLS – Nationwide Mortgage Licensing (Registry) System.  Office NMLS # 360993

 

 

Make the Winning Offer

November 29, 2012 No Comments

 

Make the Winning Offer

Who doesn’t want to know how to beat out the other purchase contracts in today’s multiple offers and lower inventory markets, and buy that house!

There was a really good article in the Wall Street Journal recently about Hard Money loans.  It was informational to borrowers and investors alike.  It spoke of the fact that Hard Money loans will account for 1% of the 5.5 million home loans originated this year, up sharply from prior years.

It mentioned “Hard Money” filling an important void.  Look at just a few instances:

 

  1. You are 1 of 12 different offers with a highest-and-best counter, on a house you really want to live buy.  You have the ability to put down 30% of the purchase price and get pre-approved for a hard money loan with a quick call to a good local Hard Money Lender.  You remove loan contingencies, increase your earnest deposit and make a 15 day closing date and your offer gets accepted!  Now this is a scenario where you win and Hard Money can fund that loan!
  2. You just did a short sale on your home and want to buy another one.  Your favorite bank won’t even talk to you.  You know that prices are at rock bottom and you can buy the same home that you bought 5 years ago for $400,000 now priced at $250,000!  Hard Money can fund that loan!
  3. You lost your job and your credit is shot.  You now are back to work making the same money and you want to buy a house.  You’ve got 30% down.  No bank will touch you as your FICO score is 525.  Hard Money can fund that loan!

 

The Wall Street Journal article further states that the fees and rates are no doubt higher than a bank, but it is well worth it as “no bank is willing to listen.”

The real gist of this article is to not give up about buying a home; It just takes a strong and strategic offer to beat out all the others, despite not being the one with the most cash!

Even at Hard Money rates (some of which I’ve gotten funded as low as 9%)  its worth it because you’d be getting in at the bottom of the market and down the road could refinance to a 30-year fixed rate loan once qualified again.   Your gain from buying at the right time can offset the cost using Hard Money.

Take advantage of a Hard Money loan or help your potential Buyers succeed at getting into a new home by directing them to such versatile financing!

CREDIT – The Bane of Home Loan Approvals

November 29, 2012 No Comments

 

CREDIT – The Bane of Home Loan Approvals

This aspect of qualifying for a home loan boils down to good credit versus bad credit.

The lenders left in the mortgage market arena, let’s call them institutional lenders, the ones that are offering the 30 year mortgages at historic low rates, require good credit (among other things).

Hard Money lenders allow bad credit. Institutional lenders will make you wait years after you have a bankruptcy, foreclosure or short sale before they will lend to you.

Hard money lenders will loan to you immediately after any of those events and even while you are going through them!

Same with recent credit problems including 30, 60, 90, 120 day lates, judgments and/or collection accounts.  Institutional lenders hate these.  Private money lenders can do a loan in spite of these.

Hard money lenders generally require just 2 things:

  1. Equity or a good down payment and
  2. Ability to repay the loan.

 

Look at the important role played by Hard Money:  Guy has a free and clear property.  He fell on some misfortune and his credit was damaged.  He makes plenty of money and he has no house payment.  He goes to his favorite bank where he’s been for 25 years.  Loan denied due to bad credit.  He calls a loan officer friend who works for a bigger bank who tells him he’s out of luck due to bad credit and to come see him in a couple of years.

This guy has a free and clear property and none of the institutional lenders will lend to him due to bad credit.   A Hard Money broker will do this loan!  There is equity and ability to repay.

Let’s say you have a happy couple who make good income and have saved up enough for a decent downn payment to buy a house.  They filed bankruptcy a year earlier which included a short sale so no bank will help them out.  Yet a Hard Money broker will do this loan as they have decent down payment and ability to repay!

This handles the credit aspect of a loan.  Give me a call today and let me help you and your Buyer(s).

How Can I Get A Home Loan?

November 5, 2012 No Comments

Out of the Ashes…

 

LENDER’S VIEWPOINT
by CA Broker, Owner

Out of the Ashes…
I have empirical evidence of the real estate market recovery. Statistics I monitor that have seen a dramatic turn recently. It has me more excited about the recovery than housing sales.
My Past Borrowers are buying houses, and they are using Hard Money to do it. And it’s logical that they would.

Picture this, my office did over 400 loans annually up to 2005 when the market tanked. The average Borrower up until 2005 borrowed 80% of the value of their home. A lot of them got a “free” home equity line of credit to boot as the lenders were giving those out like it was Halloween candy!

Then values were slashed in half in Sonoma County where I live. The median priced home in August 2005 was $619,000 and it dumped all the way down to a median of $305,000 last year. In outlying counties, the drop was as much as 66%.

So anyone who borrowed to 80% of the value of their home and then saw a 50% decline in value, has been foreclosed upon, did a short sale or is hanging in there hoping that values might recover to their former glory.
It was a deal killer for my business because in the pre-debacle days, the biggest quantity of loans in my company came from Past Borrowers, that is past clients. In second place were Referrals from Past Borrowers. That source of business virtually went away from 2005 until only very recently.

Over 50% of the loans written in my office this month are Past Borrowers. That’s way up from 0%. Now that’s a recovery!

And it’s because of Hard Money. Every one of those Past Borrowers has either a foreclosure or a short sale – or both in their recent credit history. Many have a recent bankruptcy. Not even their favorite bank will loan to them. Hard Money will. With a good down payment or equity in the property and an ability to make the monthly payments, I can do that loan.

 

Owner- the Guy in the White Hat – is a CA DRE Broker with more than 24 years of experience in real estate and lending.  His phone number is (707) 523-2099.  Email is Broker@sunpacmortgage.com.  See newly designed website @ www.sunpacmortgage.com.  DRE license #01464899. NMLS #360993. 

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