Myth Busting About Home Buying – Time To Act Now

December 1, 2015 Ken Walker

This KCM infographic is pretty much to the point.

Potential home buyers aren’t always completely informed as to minimum qualifications for buying a home. Now IS the time to honestly do the work and FIND OUT your home buying qualifications. There are conventional financing options, FHA, portfolio and hard money financing options. Don’t regret not really finding out if you do in fact qualify now to buy a home.

Some of the highlights from this KCM blog to take away:

“Interest Rates are still below historic numbers.
“88% of property managers raised their rent in the last 12 months!
“Credit score requirements to be approved for a mortgage continue to fall. The 723 average score is the lowest since Ellie Mae began reporting on scores in August 2011.
“The average first-time home buyer down payment was 6% in 2015 according to NA”

Best, Ken – Another Guy in the White Hat
707-523-2099

Lead Loan Originator at family owned and operated Hard Money company, Sun Pacific Mortgage & Real Estate, serving all of California since 1988!

Original link to KCM post:
http://www.keepingcurrentmatters.com/2015/11/13/slaying-myths-about-buying-a-home-infographic/?utm_source=feedburner&utm_medium=email&utm_campaign=Blog_Promo

A Local Look: Affordability for Renters, Buyers

November 23, 2015 Forest Tardibuono

By Satinder Haer, Zillow

With the real estate market growing faster than incomes since the recession, affordability is an issue across the country. Is it more affordable to rent or own? At any time, the answer depends on a number of complex, shifting factors: local real estate market conditions, mortgage interest rates and your personal financial situation, among others. However, the data continues to suggest that on a monthly basis, buying remains a better bargain than renting.

Renting is less affordable than ever before while purchase affordability is at an all-time high. Historical data show from 1985 to 2000, renters could expect to spend about 24.5 percent of their monthly income on rent. In the third quarter of 2015, renters spend roughly 30.2 percent of their monthly income on rent—the highest percentage on record. Homeowners on the other hand, are faring even better than they were before 2000. Historically, homeowners spent approximately 21.3 percent of their monthly income on their mortgage payments. Comparatively, Q3 2015 buyers can expect to put just 15 percent of their monthly income toward a mortgage. Renters are forced to spend more of their paycheck on rent than they did before the real estate bubble and bust while homeowners spend less.

California’s real estate market diverges from the national norms. The percentage of income required to afford rent in popular California markets is significantly higher than the national average. In extremely high demand markets such as Los Angeles and San Francisco, renters can expect to spend 48.8 and 47 percent of their monthly income on rent, respectively. San Diego and San Jose rental prices are comparatively more affordable, but still hover above 40 percent. Therefore renters in San Diego or San Jose are spending an average of 10 percentage points more of their monthly income to afford rent than their counterparts in different states.

Even purchasing a home is less affordable in California than in any other state. Only five metros across the nation experienced decreasing mortgage affordability after the Great Recession and four of them are in California (the fifth is Denver, CO). Buyers who want to own in San Jose, San Francisco, Los Angeles or San Diego can expect to put more of their monthly income toward a mortgage than they would have historically. However, buyers still spend a smaller portion of their paychecks on housing than renters in these markets.

Overall, the data show you’ll put less of your monthly income toward a mortgage than a rental payment. If you purchase in Los Angeles, San Francisco, San Diego or San Jose you save more each month than renting. Outside these four hotspots, purchasing a home is more affordable than it has historically ever been. If your goal is to put less of your monthly income toward housing and you have the savings for a down payment, buying may be the way to go.

Recently Funded Deals – The Holidays Can Be Brighter

November 17, 2015 Forest Tardibuono

The Holiday season is right around the corner. This time seems to bring about the need for more money: Thanksgiving family get-togethers travel and Christmas presents!

Why not make this Holiday season less stressful, more joyful and just easier with a house or investment property refinance? Or, how about getting a hard money loan to buy your family a home for the Holidays?!

We hope some of the below recently funded deals will further enlighten you as to how we can help you, your client, a friend or family member. Besides non-owner occupied financing, we offer principal residence financing including short term or bridge financing anywhere in California.

Call Us Today at 707-523-2099 with your real estate finance scenarios and see how we can help!

Best,

Forest & Ken, The Guys in the White Hats
P.S. We love referrals!

RECENTLY FUNDED DEALS:

NOTE: Get our financing despite credit circumstances, self employed difficult-to- prove income, need of fast financing, property a fixer, etc! We finance investment properties, owner occupied properties, multi-units, some commercial and land throughout California.

SANTA ROSA, CA
Type: Non-Owner Business Purpose
Amount: 250,000
Days to fund: 10 days!
Reason needed: Difficult to prove income

COTATI, CA
Type: Owner Occupied Refinance 2nd
Amount: 200,000
Days to fund: 12 days!
Reason needed: Self Employed

SAN RAFAEL, CA
Type: Owner Occupied Purchase
Amount: 328,000
Days to fund: 7 days!
Reason needed: Needed cash fast for closing

NUEVO, CA
Type: Investment Property Refinance
Amount: 340,000
Days to fund: 19 days!
Reason needed: Owned multiple properties

SOUTH LAKE TAHOE, CA
Type: Fix and Flip purchase
Amount: 287,000
Days to fund: 18 days!
Reason needed: Property condition poor

SACRAMENTO, CA
Type: Owner Occupied Purchase
Amount: 362,000
Days to fund: 14 days!
Reason needed: Credit Poor

RANCHO PALOS VERDES, CA
Type: Non Owner Cash-Out Bridge
Amount: 460,000
Days to fund: 14 days!
Reason needed: Needed Cash Fast to Close on Another Property

Is It Still A Good Time To Buy A House In California?

November 10, 2015 Ken Walker

The answer would be, “YES!”.

Now is still a great time to become a homeowner, especially as shown in the recent KCM blog Buying a Home Remains 35% Less Expensive than Renting!, wherein it states “Nationally, rates would have to rise to 10.6% for renting to be cheaper than buying – and rates haven’t been that high since 1989.” (Original link below.)

In California there are numerous types of real estate financing for a traditional or conventional home loan. However, for a home buyer who has bad credit or poor FICO, needs fast funding, wants to buy a fixer property or is self employed with difficult to prove income, then there is alternative financing known as Hard Money or Private money loans.

No matter if you live in sunny San Diego of Southern California, on up the Pacific coast of Monterey Bay, through Northern California cities including San Francisco, Santa Cruz & Marin, all of Sonoma County and on up through Humboldt to the Oregon border, Hard money financing could be beneficial if your loan has been turned down elsewhere.

Contact your local Broker or Loan Originator and GET PRE-QUALIFIED. Even if you think you don’t qualify – find out for sure! It truly is just a math equation as to what loan program is best for you, to be able to buy now.

Best, Ken – Another Guy in the White Hat
Lead Loan Originator at family owned and operated Sun Pacific Mortgage & Real Estate, a Hard Money Broker serving all of CA since 1988!
(707) 523-2099
www.Sunpacmortgage.com
BRE license #01858042. NMLS #1221130

The KCM blog link:
http://www.keepingcurrentmatters.com/2015/10/19/buying-a-home-remains-35-less-expensive-than-renting/?utm_source=feedburner&utm_medium=email&utm_campaign=Blog_Promo

Want To Buy a Home But Loan Keeps Getting Turned Down?

October 28, 2015 Forest Tardibuono

Do you have loan approval issues due to poor credit? Are you self employed with difficult to prove income? Or are you just tired of calling and searching for someone who is licensed and trustworthy to help get you the loan you need or want?
If your answer is “Yes” to any of these questions, then read on!
This is where my alternative finance company can step up. We have been in business for over 28 years and I am a licensed California Broker as well as have a National Mortgage License. We have the experience under our belts and the honesty comes in by being family owned and operated with returning customers again and again, as well as referrals from them, since 1988.
Home prices and values are on the rise, which just means if you are thinking of buying a house, you want to do it sooner than later to keep your monthly mortgage payments from increasing.
This is proven quite simply in a recent Press Democrat article “Q3 Market Summary” by Jonathan Soh, Brokerage Manager of Sotheby’s International Realty Wine Country Brokerage wherein he states in the Santa Rosa Marketing Summary (Single Family Homes), “Average Sales Price increased by 3% from $537,967 in Q3 2014 to $555,438 in Q3 2015…”
Anyone who lives in California, or wants to live in California: Southern CA and Northern CA – yes, this includes Sonoma County, Monterey, Santa Barbara, Napa, San Mateo, Marin, etc. – and is having problems getting a loan, give us a call and see how we can help!
Still want proof we can help? Check our what our past borrowers and real estate agents we’ve work with have to say: https://www.sunpacificmortgage.com//all-testimonials/
It can’t hurt to call us at 707-523-2099 and find out what hard money loan programs we have to match your real estate scenario.

Best, Forest – The Guy in the White Hat
Hard Money Broker and Owner at family owned & operated Sun Pacific Mortgage and Real Estate, Serving all of California Since 1988! CA Bur Real Estate ID #01000559. NMLS ID #289456

History Behind Fix & Flip Financing, a.k.a. Hard Money Loans

October 12, 2015 Forest Tardibuono

History Behind Fix & Flip Financing,
a.k.a. Hard Money Loans

Knowing exactly what hard money is, and not what someone else thinks it is, can be helpful now and in the future.

In August, the Trust Deed Capital Blog came out with “The History Behind Fix and Flip Financing” (link and article below). This hard money article got me to thinking how many home buyers I have spoken to, as well as numerous Real Estate Agents. A majority of them do not truly know what a hard money loan, also known as private money, and it’s actual benefits.

This type of real estate financing is not only useful for your California “fix and flips” or “remodel & resell” properties but it can be quite helpful to individual home buyers who have been turned down elsewhere for a mortgage or refinance due to poor credit, self employed with difficult-to-prove income, etc. It can also be helpful to an Investor who owns multiple properties and therefore is not qualified for another mortgage on another rental – at least per his bank and local credit union.

Being sure you have an experienced and licensed Broker to help with a hard money loan is very important. You want to make sure you are getting the facts and with integrity.

If you are in Southern California areas like Santa Barbara, Glendale and Arcadia or how about Northern California areas like Santa Rosa, San Francisco and Santa Clara, we are always available to answer any of your questions or help you out with a hard money alternative financing.

Best, Forest – The Guy in the White Hat
Office # 707-523-2099
www.sunpacmortgage.com

Co-Owner and Hard Money Broker at family owned and operated Sun Pacific Mortgage & Real Estate, serving all of California since 1988!
CA BRE #01000559. NMLS #289456

The History Behind Fix and Flip Financing
Posted by Ken Meyer on Tues, Aug 04, 2015
http://www.trustdeedcapital.com/blog/the-history-behind-fix-and-flip-financing?utm_source=hs_email&utm_medium=email&utm_content=21054979&_hsenc=p2ANqtz-8fR8xTNrYRcYQNeGNFTEfWaABY07Bi1wmRTZuVt7ZJvsXT-rjKCu7Ky1QSz4gv_Ibc9FvfTOgYI1NchSLFgtPJvIPZcw&_hsmi=21054979

Is Hard Money For You?

October 1, 2015 Forest Tardibuono

IS HARD MONEY FOR YOU?

Hard money loans aren’t for everyone, but, those with less than stellar credit, needing a quick loan, wanting to fix up a property, all fall within the parameters of why hard money is beneficial.

If a Borrower qualifies for conventional or traditional financing, I tell them. Not only is it legal but it is the right thing to do.

However, what about those who want to buy a dump property and fix it up? What about the home buyer who was just turned down by their bank for a home loan yet they are already in Escrow and need a loan quickly so they don’t lose out on that house? What about someone with a bankruptcy within the past couple of years?

A Hard Money loan is the answer.

There was a good blog posted by Trust Deed Capital in August called “Quick Hard Money Loan Structure Explained”, that explains in pretty good detail what hard money is and how it is beneficial (link to article below).

After 28 years in Sonoma County, our family company has helped thousands of home buyers and home owners, investors and other real estate agents and lenders to get a hard money loan and accomplish the deal they were working on!

Anyone who lives in or wants to live in California – Northern CA and Southern CA ( yes, this includes Sonoma County, Monterey, Santa Barbara, Napa, San Mateo, Marin, etc.) who is having problems getting a loan, give us a call and see how we can help.

Best, Forest – The Guy in the White Hat
707-523-2099

Hard Money Broker and Owner at family owned & operated Sun Pacific Mortgage and Real Estate, Serving all of California Since 1988!
CA Bur RE ID #01000559. NMLS ID #289456

Quick Hard Money Loan Structure Explained:
http://www.trustdeedcapital.com/blog/quick-hard-money-loan-structure-explained?utm_source=hs_email&utm_medium=email&utm_content=21218492&_hsenc=p2ANqtz–DeNuMOJJRwxQxB7lBRu1wPaOfUeiIaA0RnKHG9ydpF5sExHcEsZivjx6BLuIfZha8htH7rsV9QHtc-82jJFpX_ZAuGA&_hsmi=21218492

Don’t Give Up. You COULD Qualify To Buy A Home NOW.

September 25, 2015 Forest Tardibuono

Don’t Give Up. You COULD Qualify To Buy A Home NOW.

Home buying CAN become a reality. There are many loan programs available and families might just qualify to buy now – but they have to look for experienced lenders and agents to help get them all the information out there. DON’T GIVE UP.

Persistence. Experience. Sincerity. Caring. These are traits any Realtor and Lender or Broker should have when you decide to work with them. You need to know all your options for BUYING NOW.

Cost-Of-Waiting-Kcm The KCM Crew just wrote another great blog called “The Cost of Waiting To Buy a Home”. It lays it out pretty clearly how waiting to save up for more of a down payment or waiting until your credit is the highest you can get it, just costs you more money down the road when you actually buy your home.

Stop waiting, wondering and hoping. It’s time to take action and find your local licensed, experienced, honest and persistent Agent who can provide you with what you need to get into a home – sooner than later.

If you want any information about alternative financing due to poor credit, difficult to prove income, property a fixer, etc. then don’t hesitate to call my office at 707-523-2099 and we can provide this. We are located in Santa Rosa and have been offering hard money loans (also known as private money) for over 28 years. We offer $100,000 on up to jumbo size loans in the North bay areas, South bay areas and actually throughout all of California.

Best, Forest – The Guy in the White Hat

Hard Money Broker of family owned and operated Sun Pacific Mortgage & Real Estate company, serving all of California since 1988! www.sunpacmortgage.com
CA BRE License #01000559. NMLS #289456

Original KCM blog link: http://www.keepingcurrentmatters.com/2015/09/16/the-cost-of-waiting-to-buy-a-home/?utm_source=feedburner&utm_medium=email&utm_campaign=Blog_Promo

Recently Funded Deals – The Buck Stops Here

September 22, 2015 Forest Tardibuono

Recently Funded Deals – The Buck Stops Here

Being the last hope for an individual or family to buy a home or an investment property is not just a job for us but something we are proud we can be.

We hope the following recently funded deals shows you how we can help you, your client, a family member or friend, anywhere in Sonoma County and all throughout California for that matter.

“The Sun Pacific Team is extremely knowledgeable with decades of experience. They also really care about their clients, are efficient and provide the lowest stress possible. I would hire Sun Pacific again, without hesitation, for my next home buying experience.” Regards, Karen

Call Us Today at 707-523-2099 with your real estate finance scenarios and see how we can help.

Best,
Forest & Ken, The Guys in the White Hats

P.S. We love referrals!

RECENTLY FUNDED TRANSACTIONS:

SANTA ROSA, CA
Type: Rental Properties Refinancing
Amount: 531K
Days to fund: 8 days
Reason needed: Bankruptcy in the past years

BERKLEY, CA
Type: Investment Property Purchase
Amount: 593K
Days to fund: 22 days
Reason needed: Short Sale still on record

RIVERSIDE, CA
Type: Owner Occupied Bridge
Amount: 355K
Days to fund: 14 days
Reason needed: Property condition poor

ROHNERT PARK, CA
Type: Principal Residence Purchase
Amount: 232K
Days to fund: 8 days
Reason needed: Difficult to prove income

SANGER, CA
Type: Owner Occupied Short Term
Amount: 199,000
Days to fund: 8 days
Reason needed: Credit Poor

OAKLAND, CA
Type: Commercial Property Purchase
Amount: 221K
Days to fund: 24 days
Reason needed: Owned multiple properties

FALLBROOK, CA
Type: Owner Occupied Purchase
Amount: 703K
Days to fund: 22 days
Reason needed: Self Employed

Click this link for our rate sheet, showing the programs we offer.

CALL TODAY, The Guys In The White Hats at
(707) 523-2099

Ever Thought About Becoming A Private Investor And Investing In Real Estate Trust Deeds?

September 14, 2015 Forest Tardibuono

Hard Money, also known as Private Money, plays an increasingly significant part of today’s real estate financing. Just within the past couple of weeks, our company funded a jumbo loan of $803,000 on an owner occupied purchase in Berkley; A $593,000 for an investment property purchase by San Diego and another jumbo size loan of $850,000 for a refinance of some rental units by San Francisco.
For those with tarnished credit, self employed and difficult to prove income or if the property needs fixing so won’t qualify for conventional financing – Hard Money is the only option, and, it could be the strongest option at times for making the better offer, getting that one property you have set your sights on, etc.

This KCM infographic provides another reason real estate selling, buying and investing is beneficial to more than just one person or family: Economic Impact of Every Home Sold

http://www.keepingcurrentmatters.com/2015/09/11/economic-impact-of-every-home-sold-infographic/?utm_source=feedburner&utm_medium=email&utm_campaign=Blog_Promo

Capture If in need of a hard money loan or if you are interested in investing in trust deed offerings for California real estate, send me a message or call my office 707-523-2099 and see how we can help. We have been in business since 1988 and are always looking for more investors for our hard money lending business.

Best,

Forest – The Guy in the White Hat

Hard Money Broker of family owned & operated Sun Pacific Mortgage & Real Estate, serving all of California since 1988! www.sunpacmortgage.com 707-523-2099

CA BRE License #01000559. NMLS #289456

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Trusted Private Money Lenders Since 1988!

Call Today! (707) 523-2099

Myth Busting About Home Buying – Time To Act Now

A Local Look: Affordability for Renters, Buyers