Private Lending Filling the Mortgage Gap

With Real Estate prices rebounding in California, it’s surprising to see banks still being cautious and lean only toward wealthier, lower-risk borrowers. This has left a widening gap in the mortgage industry between Lenders and potential Borrowers with less than perfect qualifications.  Mortgages in the U.S. last year totaled about 1.6 trillion, according to the Mortgage Bankers Association. On a scale like that, Private Lending trails closely behind, with demand growing every year.

These days, Borrowers typically only need one or more flaws in their qualifications to be denied traditional lending. This can be a huge disappointment to Borrowers who otherwise have fantastic qualifications and are in great need of help.

A perfect example can be found in a recent Wall Street Journal article posted here:

“Ms. Lewis is an executive director of Los Angeles County’s Mental Health Commission. She has over 22 years of equity in her home with an estimate worth of $600,000. A recent divorce and subsequent bankruptcy has ruined her credit and caused loan rejections from every bank she approached.”

As an experienced, longtime Private Money Broker operating in Sonoma County California, Sun Pacific Mortgage & Real Estate could approve her loan based strictly on her job status, steady income, and available equity. Her recent bankruptcy would not affect her qualification in this scenario.

Have you been turned down for a loan due to less than perfect qualifications? Call Sun Pacific Mortgage & Real Estate today! (707) 523-2099

Co-Owner and Hard Money Broker of family owned and operated Sun Pacific Mortgage & Real Estate, serving all of California since 1988!


CA Bur of Real Estate license #010005559 and NMLS #289456

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