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  • FAST Purchases and Refinances!
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Loan of the Week

A Real Estate Broker in Contra Costa sent his Borrower’s loan to us, due to difficult to prove income as was self employed.

This Borrower needed 629,000 quickly to refinance his primary residence and pull cash out for debt consolidation.  For this million-dollar property, with a loan to value of 42%, it took us just 9 days to complete the transaction and get cash in hand!

If you or someone you know needs a little more speed or flexibility in qualifying for a home loan, give us a call at 707-523-2099. I will quickly get you a proposal as to how we can help with our private money loan programs!

What Are Loan Options For Borrowers with Bad Credit?

What Are Loan Options For Borrowers with Bad Credit

Life happens, and with it sometimes it has less than desirable consequences.  An example of a negative impact on our lives is a bad credit report.  This damaging report isn’t always a sign of irresponsible choices but can just as easily be the result of an unexpected and disastrous health or financial occurrence.

Unfortunately, FICO scores don’t take into account extraneous circumstances that may have led to the disruption of your good credit.  A Hard Money loan, also known as a Private Money loan, can be the lifeboat that offers a temporary “work-around” until such reports can be remedied.

With a poor credit or bad credit score, banks and other lending institutions might deem you too high a risk and decline your loan application.  Additionally, conventional lenders will disqualify an unoccupied commercial space, fixer-uppers, and residential properties, both owner occupied and rentals because they don’t meet the federal requirements.

If you find a great real estate opportunity but can’t qualify for a conventional loan, our investors are here to help.  Helping Borrowers and Investors is what Sun Pacific Mortgage has done for the past 33 years for the California real estate community.  We match up Borrower and Investor to maximize the financial rewards for both.

Give us a call at 707-523-2099 if you need a fast, Private Money loan or you are an Investor looking to maximize your returns, through Trust Deed investments.

Benefits of Borrowing from a Private Lender

Benefits of Borrowing from a Private Lender

Why would a real estate Buyer get a mortgage from a private lending company rather than an individual investor or conventional source?  There are numerous reasons, but to list a few:

  1. You can be self employed with difficult to prove income and still get a loan.
  2. You can better arrange the terms that work best for your circumstances.
  3. You don’t have to do the work to build individual relationships with investors – they’ll be made for you.
  4. You work with experts who are knowledgeable and quick to perform.
  5. You can present a faster 10-day offer close on your purchase offer!
  6. You can work with virtually all cash and not have loan contingency.
  7. You can stay in your current house while buying your new dream home with a Private Money Bridge Loan.
  8. There are less qualifications – making it easier to get the home loan you need, while still ensuring you can afford the monthly mortgage payments.

Many Borrowers believe that these benefits far outweigh the higher interest rates and associated fees.  Often Borrowers can get a quick loan even after being rejected by a conventional lender.  In many cases loans can be funded in days rather than the typical weeks or months from a bank.

If you have been looking to buy in this highly competitive market, give Sun Pacific Mortgage a call at 707-523-2099.  We are a direct private money lending company for more than 33 years now and capable of simple, fast approval processes allowing you to get “a leg up” in this demanding seller’s market.

What Should Buyers Know When Making A Purchase Offer?

 

What Are Buyers Looking for in Homes Today 1We are well aware of the low inventory and high prices which have prevailed in the real estate market for over a year. This has intimidated many buyers recently and kept them from attempting to get into the bidding wars.   As a buyer, what is the best approach when making an offer today that will help make your offer a stand-out?

Here are five things to keep in mind when you’re ready to make an offer:

  • Know Your Numbers:  In today’s market it is essential to get pre-approved for a loan before you begin your search.  Not only will this give you an idea of what you can legitimately afford, but it shows the seller that you are a serious, qualified buyer giving you a competitive edge.
  • Prepare for a Fast Pace:  With the average home on the market for just 17days start to finish, you can’t spend too much time lingering over your decision.  A skilled agent will help you draft and submit your offer as quickly as possible.
  • Trust a Real Estate Professional:  While you may go through the home buying experience maybe once every ten years, your Real Estate agent goes through it every day.  Trust their experience and their knowledge of the market.  They might suggest helpful tips when presenting your offer, to make it stand out in the crowd, such as flexible rent-back options or a quicker close.
  • Make a Strong, but Fair Offer:  Since more than 50% of homes are being sold above asking price, it is imperative that you turn to your agent to help make a suitable, strong offer that will help secure your home.
  • Be a Flexible Negotiator:   Be prepared to amend your offer to meet the specific requests of the seller. One contingency that one should strongly consider not waiving, however, is the home inspection.  You wouldn’t want to be stuck with a house you can’t afford to fix.

In today’s competitive market, it is important to consider the seller’s needs as well as your own.  Your professional agent can help walk you through the more competitive field that is home-buying today.

If you are looking for a fast close to impress your seller, give Sun Pacific Mortgage a call at 707-523-2099.  Why?  We have been known to fund a mortgage in as little as a week.  Even bad credit doesn’t stop us if there is sufficient down payment or good equity in a refinance.

We offer many programs for purchase and refinancing.  Need a Bridge Loan so that you can make a sound offer on your new home before selling your present one?  We do these, too, and make possible many purchases that might otherwise never happen! Bridge Loans are short term mortgages that can be paid off once you sell your present home and allow you to make a contingency-free offer on a new home.

Our privately funded loans offer great flexibility and fast funding, which are essential in today’s market.

Direct Financing For Your Buyers

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  • FAST Closing
  • Stated Income (Business Purpose Loans)
  • Primary Residence Financing
  • Never ran out of money after 33 years in business!

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Call today 707-523-2099 with your scenario.

The Guys in the White Hats; Continuing the legacy of 33+ years of Private Money lending!

 

Real Estate vs. Stocks

Real Estate vs Stocks 1

Whether to invest in real estate or stocks is a personal choice that depends on your financial situation, risk tolerance, goals, and investment style.

When you buy stocks, you buy a tiny piece of that company.  In general, you can make money two ways with stocks:  value appreciation as the company’s stock increases and dividends.

When you buy real estate, you acquire physical land or property.  Most real estate investors make money by collecting rent or mortgage payments, as is the case with private investors at Sun Pacific Mortgage.  These private investors are provided a steady income stream and through appreciation, as the property value goes up, a hedge against a bad borrower.

For many prospective investors, real estate is appealing because it is a tangible asset that can be controlled, with the added benefit of diversification.

Comparing the returns of real estate and the stock market is an apples-to-oranges comparison because the factors that affect prices, values, and returns are very distinct.  But, bottom line, both present risks and rewards.  Smart investors opt for a variety of asset classes to reduce their risk.

Investing in real estate is an ideal way to diversify your investment portfolio, reduce risks, and maximize returns.  If you like the idea of investing in real estate, but don’t want to own and manage properties, become a private investor with Sun Pacific Mortgage.  We have hundreds of private investors who choose to fund our trust deeds and maximize their investments with returns up to 13%.

Call Sun Pacific Mortgage at 523-2099 or check us out at www.sunpacmortgage.com and discover a better way to increase your family’s wealth.

Fast Private Money Loans

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Recently funded by us:

  • Primary Residence Purchase
  • 437,000 loan amount
  • 61% LTV
  • Morgan Hill, CA
  • 2 Week Close!

At Sun Pacific Mortgage we continue the 33 year legacy of providing Private Money financing!

Routinely contacted by Home Buyers and Home Owners, who need FAST financing or are unable to get a home loan elsewhere.  Sometimes it is because of your FICO score or difficult to prove income, etc. Other times it is simply because you want a stronger purchase offer with shorter 10-day close.

Give us a call at 707-523-2099 with any questions or scenarios and we’ll quickly get back to you with how we can help!

To Renovate or Not to Renovate Before You Sell

To Renovate or Not to Renovate Before You Sell

When deciding to sell here in California, some homeowners feel they need to get their houses ready to make it more appealing to Home Buyers.  Before deciding on this choice, here’s a few things to keep in mind:

  • There is a shortage of homes right now.  In a “normal” market there would be a 6-month supply of homes available for sale.  Presently, there is only a 1.9-month supply.  As a result, competition is stiff and Sellers are receiving multiple offers.  Many Buyers are more willing to take on home improvements themselves to get the home they’re after.  In this market, it may be wise to let future Homeowners remodel the bathroom or the kitchen to make design decisions that are best for their specific taste and lifestyle.
  • Focus on getting a good return on your investment.  Make sure that any bigger project you are planning to tackle will give you the return on your investment you are seeking, and that those projects are worth the cost.  Consulting a real estate professional before you renovate is a good idea especially in this busy real estate market.  You may find that putting you house up for sale as-is, will still sell quickly and result in a good return.

All over the country, but especially in California, we are in a strong seller’s market.  So many of the popular California counties, including Sonoma, Marin, Monterey, Santa Clara, San Mateo and even Southern CA counties, are seeing more and more homes slowing coming onto the market – and selling fast!

So, maybe the best course of action is not a reasonable renovation project but instead putting it on the market for the many Home Buyers waiting to buy!  But, if you do need fast funding to get a renovation job done quickly in order to cash in on this market, give Sun Pacific Mortgage a call at 707-523-2099.  We are a private mortgage funding company who can often get your funding done in as little as a week.

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