Us again – dropping into your inbox with FAST mortgage solutions. If you or someone you know are in the need for speed financing – or you’ve been turned down elsewhere for a refinance or purchase loan – give us a call so we can help you, like we did before.
Here’s some recent Borrowers we helped with our Private Money programs:
At Sun Pacific Mortgage we are FAST in getting home loans approved and funded with our Private Money programs. Call today at 707-523-2099 or visit our website www.sunpacificmortgage.com to see how we can help you, or someone you know, get that needed loan done with FAST SPEED!
If this year proved anything, it is the importance of our home. Never before have Californians spent so much time living and working in it. All the good, the bad, and the ugly was revealed to us as we spent our lives at home these past couple of years.
While most homeowners in both Northern California and Southern California may have understood the financial benefits of homeownership, they now understand that a home also brings feelings of gratitude, security, pride, and comfort. While the world around us has changed almost overnight, our homes were redefined.
A study from Unison reports that:
91% of homeowners say they feel secure, stable, or successful owning a home.
64% of Americans say living through the pandemic has made their home more important to them than ever.
83% of homeowners say their home has kept them safe during the Covid-19 pandemic.
70% of homeowners feel more attached to their homes than before the pandemic.
As one CEO stated:
“Aside from the financial factors, there are several social benefits of homeownership and stable housing to consider. It has long been thought that buying a home contributes to a sense of accomplishment. Still, most individuals fail to realize that homeownership can benefit your mental health and the community around you.”
If you have been contemplating jumping into the real estate market but have concerns that you will not qualify for a conventional loan, give Sun Pacific Mortgage a call at 707-523-2099 or visit our website at www.sunpacificmortgage.com and find out what a Private Money loan could do to make your dream home come true. We have been in business for over 33 years helping folks just like you fulfill their desire for homeownership with our alternative programs.
Are you running into stops or difficulties with loan approval? You won’t have these stops with us!
At our family owned and operated company, we have helped well over 10,000 Borrowers/Buyers with our FAST Private Money Programs – just like below:
Loan of the Week
A Buyer was sent to us by his Agent after being turned down for conventional financing due to debt-to-income ratio being too high. This Buyer/Borrower was in contract to purchase an investment property in Sonoma County but wanted to access equity from his primary residence in Monterey for the down payment.
Escrow was set to close in 12 days and this client needed a loan of $720,000. We got right to it and the result was a relieved Agent, a very happy Borrower/Buyer and a joyous Seller because the Escrow successfully closed in such short order!
Looking back over the 2021 real estate market is mind boggling. From mid-March when we were told to “shelter-in-place” to the rapid acceleration of the market in May and continuing throughout the remainder of the year we experienced a ride we never saw coming.
Frantic Buyers looked for properties in areas where they never dreamed of living before because of the transition to virtuality. With working from home becoming the norm, new possibilities opened, and Buyers rushed to snatch up more rural or country homes. The Wine Country was a first choice for many residents of Silicon Valley, San Francisco, the East Bay, and the Peninsula.
Predictions nationally see real estate prices appreciating only 5.7% in 2022 as opposed to the 15% appreciation of this past year, but the Wine Country could well be an exception. The lack of inventory and the lure of the country keeps calling, making North Bay prices continue to look inviting and worth the prospective battle to win.
If you didn’t find your new escape in 2021, it is not too late. Mortgage financing problems? Check out our website for all that we offer at www.Sunpacificmortgage.com or Call Sun Pacific Mortgage at 707-523-2099 to examine the private money loan programs available for hard-to-fund properties or Borrowers. With 34 years of experience behind us, we have seen it all and have found ways of helping thousands of our clients find the mortgage program that works for them.
Lately, one of our more requested loans is for a Bridge Loan, allowing the Seller/Buyer to purchase the new property before selling their present home. In the tight market we face today, contingency offers are less likely to be considered by Sellers. This is a short-term solution for Buyers.
May Your New Year Sparkle Brighter with Private Money!
Avoid any loan slows or disapprovals by coming to us for a FAST Private Money mortgages that’ll make your New Year sparkle brighter!
Loan of the Week
Program: Investment Property Refinance Loan Size: 1.07 million Loan to value: 69% Location: Santa Clara County Why Came To Us: Borrower was sent to us by their Agent as their conventional lender backed out at the last minute, credit not reaching desired level. They were in Escrow already, to pull cash out of an investment property as the down payment on a new primary residence. They were about to lose out on a new home if this refinance wouldn’t go through. We didn’t want to let this happen!
Our specialty is speed and those turned down elsewhere. If you, a family member or friend falls short of qualifying for a conventional loan call us at 707-523-2099 or visit our website at www.sunpacificmortgage.com. We’ll let you know how we can help to start your New Year off with a sparkle!
Good news and bad news were recently posted by the California Association of Realtors (C.A.R.) regarding the economic outlook on housing. The bad news: supply constraints and higher prices will bring California home sales down slightly in 2022. The good news: transactions will still post their second highest level in the past five years.
C.A.R. sees a decline in existing single-family home sales of 5.2% next year (416,800 units) down from the projected 2021 sales figure of 439,800.
The median home price is forecasted to rise 5.2% to $834,400 following a 2021 projected increase to $793,100 (20.3%).
According to C.A.R. President Dave Walsh:
“A slight decline next year from the torrid sales pace of the past year-and-a-half will be a welcome relief to potential homebuyers who have been pushed out of the market due to high market competition and an extremely low level of homes available for sale.”
Economists look for the cyclical effects from the latest economic downturn will wane, and a strong recovery will follow. Demand for homes will continue to outstrip available supply as the economy improves, resulting in higher home prices and slightly lower sales in 2022.
Take advantage of our Private Money Loans and the many benefits: FAST Refinancing and Purchase Loans + Bridge Financing + Jumbo Loans + Credit issues not a problem!
If you or someone you know doesn’t qualify for traditional or conventional home loans, how about you send your scenario our way to find out what our Private Money loan programs could do to help you into the New Year strong! Or visit our website at www.sunpacificmortgage.com to see how we can help!
In a recent study, California’s Association of Realtors (C.A.R.) measured the percentage of households that can afford to purchase a median-priced, single-family home in California. This index is considered the most fundamental measure of housing well-being for home Buyers in the state. Here are their findings for the North Bay Counties as of Q3/2021:
Median Home Price: $930,000
Monthly Payment incl. taxes & insurance: $4,230
Minimum Qualifying Income: $169,200
Median Home Price: $765,000
Monthly Payment incl. taxes & insurance: $3,480
Minimum Qualifying Income: $139,200
Median Home Price: $352,000
Monthly Payment incl. taxes & insurance: $1,600
Minimum Qualifying Income: $64,000
Median Home Price: $554,000
Monthly Payment incl. taxes & insurance: $2,520
Minimum Qualifying Income: $100,000
If you’re in need of a mortgage loan, but do not qualify for a conventional loan from a bank or financial institution, consider a privately funded loan from the Investors at Sun Pacific Mortgage. Call us at 707-523-2099 to discuss your options or visit our website at www.sunpacificmortgage.com.
We have a solution for you, a friend or family member who has been left out in the cold as they can’t get the home financing they need: Fast Private Money! Below is just one of the many ways we can help make Holiday merrier:
Loan of the Week
Program: Owner-Occupied Rush Purchase Loan Size: 1.3 million Loan to value: 63% Days to fund: Just 13 days! Why Came To Us: Broker from Contra Costa County referred his client to us after being turned down with conventional Lender, due to self-employment. Buyer had a high FICO and good down payment so it wasn’t difficult to get his loan quickly financed by one our Investors!
With needs for faster refinancing or a desire to create stronger purchase offers, Private Money can give you the edge they need in this competitive market. Our Private Money mortgages can get you, a friend or family member into a warm Home for the Holidays!
In recent months Southern California has seen a slight cooling of the cutthroat housing market. Perhaps it is due to home shoppers tired of losing bidding wars and who, subsequently, put their search on hold temporarily.
As one Realtor put it: “What we are seeing is just a minor slowdown. Buyers can just expect slightly less pain.” Where once you might see 20 offers on a property, now you see 4. Better, but still not easy.
In October, home prices in the 6 counties of Southern California rose 14% from a year ago reaching an all-time median high of $690,000. Sales declined 6.6%, the first drop since June 2020.
Up until now, home prices were rising faster than they had for years for a variety of reasons: low inventory, record-low mortgage rates and an influx of millennials into the market. The pandemic also drove more people to seek out more space, and first-time home Buyers left pricey city rentals for a home of their own.
Most economist don’t see these price increases continue at the pace we have been seeing over the past couple of years, yet most homes still sell above their list price.
Here is a snapshot of what we have seen in the market over the past year:
In LA County, the median home price rose 10.5% to $790,000, while sales fell 0.9%.
In Orange County, the median home price rose 15.7% to $920,000, while sales fell 13.6%
In Riverside County, the median home price rose 20.2% to $535,000, while sales fell 6%.
In San Bernadino County, the median home price rose 16.3%, while sales fell 5.3%.
In San Diego County, the median home price rose 13.8% to $740,000, while sales fell 12.4%.
In Ventura County, the median home price rose 10.7% to $725,000, while sales fell 6.5%.
If you are thinking of wading into the market this coming year, now that the frenzy has waned slightly, but have been turned down for a conventional loan, give Sun Pacific Mortgage a call at 707-523-2099 or visit our website www.sunpacificmortgage.com. We have helped thousands of Borrowers just like you achieve their dreams with a private loan from one of our many Investors.