Pacificwide Lending

03/06/2025

The Impact of High Interest Rates on the Mortgage Industry
The rising interest rates have had a significant impact on the mortgage industry. Many conventional lenders and brokers who thrived during the refinance boom are now struggling to survive, as their business models relied solely on offering conventional loan products and competing on interest rates.

At Pacificwide Lending, we take a different approach. Instead of focusing solely on interest rates, we prioritize excellent service and offer a diverse range of loan programs tailored to help our clients achieve their investment goals. Unlike most lenders and banks, we specialize in financing solutions that others won’t provide.

Our Loan Programs Include:
Rental Income Loans – No tax returns or W-2s required.
Owner-Occupied Home Loans – Income can be established using 12 months of bank statements.
Bridge Loans – Fast closings within a few days, even without an appraisal. Our clients gain a competitive edge in bidding wars with our quick funding.
Commercial Loans – We finance various property types, including multi-unit residential, office buildings, warehouses, retail centers, shopping malls, gas stations, elder care facilities, retirement homes, and lot loans. We also offer ground-up construction loans for builders and investors.
10% Down Owner-User Commercial Loans & SBA Loans – Ideal for business owners looking to acquire commercial properties.
Reverse Mortgages – Designed for individuals aged 55 and older.
Business Loans – Minimal documentation required: just four months of business bank statements and a one-page application. Clients receive offers within 24-48 hours, and best of all, these are non-recourse loans (no asset collateral required).
Why Work With Us?
We have an exceptional processing team dedicated to closing deals quickly and efficiently, minimizing the workload for our loan officers.

Recently, we successfully closed an RV park purchase loan and a 30+ unit apartment complex construction loan. We are currently working on multiple elder care facility loans, with loan amounts in the tens of millions of dollars.

We are licensed in California, Texas, Florida, and Colorado and are expanding into Washington, Nevada, and Arizona.

Who Should Apply?
We are looking for ambitious professionals who are serious about building a career in mortgage lending and making significant income.

Qualifications:
Hold or plan to obtain a mortgage and real estate license.
Possess an entrepreneurial spirit and actively pursue business opportunities.
Ambitious and eager for future growth.
Have a "can-do" attitude and a positive mindset.
Work well in a team environment and enjoy helping others.
Have a teachable attitude and a strong desire to learn.
Responsibilities:
Market our loan products to potential clients.
Build relationships by visiting real estate offices, attending events, and networking.
Follow up with leads through calls, emails, and in-person meetings.
Originate and process loan applications.
If you are motivated and ready to succeed, we want to hear from you. Contact us today!

04/01/2024

Spring has arrived: flowers are blooming

02/07/2024

We have just closed a RV Park purchase loan, working two multi-units construction loans. As well a waste plant turn into energy development loan. We are really busy

05/04/2023

What are our biggest expenses? Our housing expense is usually the biggest. Then perhaps a car payment, utility bills, insurance, and credit payments. It is generally expected that our housing expense should not exceed 30% of our income. But if you live in high-cost areas like California, your housing expense can likely exceed 50% of your income! This is a scary situation to be in. Especially if you are living on “fixed” income, meaning you get the same amount each month no matter what. People who are retired fit into this category. So much so that any significant increase in their income is celebrated on the evening news! The COLA (cost of living adjustment) that occurs with Social Security benefits was 5.9% in 2022. At that time, it was the highest increase in 40 years! Only to be topped in 2023 by an 8.7% increase. The news was posted and discussed everywhere because there are so many baby boomers who are now collecting Social Security alone or in addition to a retirement pension. It was fantastic news as the increase enabled recipients to live better. That’s exactly what we are all about at Pacificwide Reverse: helping people live better now. To that end, helping people 55 and older figure out how to make their ends meet each month is our #1 goal. If your housing expense is more than 30% of your income and that expense includes a mortgage payment, it may be time for a free consultation with one of our specialists to discuss how to make that expense more affordable. Or how to eliminate it entirely. As you probably know, having a reverse mortgage does not affect your Social Security pension. The proceeds from a reverse mortgage are not considered ‘taxable income’ as they are proceeds from a loan. Nor will having one keep you from purchasing additional property. Getting rid of your mortgage payment could help make it possible for you to live a life free of financial worry. Right now. So, aren’t you curious? Let’s talk!

Yolanda Smith-Lane

Executive Vice President, Pacificwide Lending

Director, Pacificwide Reverse

Direct Line: (510) 806 5327

05/03/2023

https://www.pacificwidelending.com/MyBlogPacificwideLending

Pleasanton Mortgage Blog - Pacificwide Lending - This is the blog for Pacificwide Lending in Pleasanton, CA. Come here to find the latest mortgage lending news and trends regarding interest rates for home financing, as well as success stories etc.

04/26/2023

If your financial life in retirement is not what you envisioned, let’s talk about it.

Most of us dream of the time in our lives when we can retire! A time when the hustle-and-bustle of life is over. When we don’t have to wake up early in the morning. We don’t have to wear business clothes or commute. We can take a lunch break, or for that matter any kind of break, anytime we want! Simpler. That’s the best word to describe life in retirement. Or at least the way it should be. Not working everyday also means not making the income you were accustomed to. If you were wise and started young, you likely have a healthy “nest egg” to supplement your retirement income. But if you’re like a lot of us, you aren’t as comfortable as you want to be with your financial condition. What are the options for increasing your income or savings without getting a job? One option that is often overlooked is gaining access to the home equity you have built up over the years. You can access that equity by selling your existing home and purchasing a smaller home for cash. Or you could choose the only other option that doesn’t involve making a monthly mortgage payment: a reverse mortgage. Now before you stop reading, have you ever looked into a reverse mortgage for you? Have you gotten a proposal from a reverse mortgage provider? Do you know of the different reverse mortgage products that exist today? I won’t get into all that right now. I just want to put on your mind that reverse mortgage is much more versatile and multi-faceted than you know. And you would be doing yourself a disservice if you don’t call us for a free consultation. Situations can change overnight. And the peace of mind that comes from knowing there is a “Plan B” just in case you need it is priceless. Give us a call today so we can set up your appointment.

Director, Pacificwide Reverse

Executives Vice President, Pacificwide Lending

510-806-5327

04/22/2023

Interest rate has gone up significantly since early 2022. However, as of now, the potential buyers seem to be content with high interest rates, and start to look and purchase again. We are the frontline with the borrowers and to get them loans, we have experienced that borrowers having to compete with other borrowers again. Of course, the magnitude is no where near the real estate frenzy that took place in 2021, it nevertheless stabilizes the real estate market. Also, as the inventories are still really low, there are just not whole lot of houses for sale on the market right now, especially the San Francisco Bay area.

We are pound of ourself for streamlining our clients loans, we have closed loan as fast as 21 days. We also provide our clients with alternative loans if they were being turned down by the banks. Let us know if we can be any help to you.

01/23/2023

if you are retired and currently struggling with today's inflation, give us a call, we can help :)

08/16/2022

The age requirement is actually reduced to 55, it is a great opportunity for many to get rid of existing mortgage and debts.
Think of lives without monthly payment, would that make your day?

02/13/2022

Many people have retired from their busy working live, and finally can live lives they deserve. However, many of them have run into an awkward situation. They might be house rich yet cash poor.
For example, a long time small town resident that I helped with, he was in his 80s, carried a small mortgage on his home, but there were also several liens against his house. These liens incurred at time when He had taken out loans to make some unexpected repairs on this house, or to pay for medical bills. All these junior liens carried high interest rates, so he ended up spending large portion of this retirement pension and social security check on these payments every single month. Since he was really struggling to make all these payments, and he would be late on payments from time to time, he always had this fear that one of his lien holders would come in and foreclose his home, and he would end up being a homeless somehow. I provided him with a reserve mortgage which paid off all the liens, plus got him $50,000 cash at closing. Best of all, going forward, he has no monthly mortgage payment to make. It made a huge difference in his life: now he finally can enjoy his life not constantly worrying about how would make the payments. He even plans to take a trip that he has put it off for so many years.

I also helped another client of mine, who is a widow and owns a large home, and her children all have left home, so now she lived alone. The home was way too large for her to maintain, and she wished to move into a small two-bedroom town home (she prefers not to go to a retirement home). However, there was the dilemma: she was not working, lived on social security only, so she was afraid that she couldn’t qualify for a mortgage. Another challenge was that she was also house rich, cash poor, she couldn’t come up with the down payment even she could qualify for a loan to make the purchase. Of course, she could sell her home first and use the proceed to purchase a small home with all cash. But she would have no place to live for several months not even sure that she would find a place in that short period of time to her like. Worse, she would not know what to do with her belongings while she is without a home. So, she just kept brushing this idea aside until she was referred to me by another client of mine. Again, I provide her with a reserve mortgage on her large home. With the loan proceed, she had the luxury of taking her time to look and not being stressed out. She finally found a townhome that met her meets. Best of all, she now had ample of time to move herself into the new home, and decide what to do with all of her belongings. She just recently sold her large home and paid off the reserve mortgage. Now, she is as happy as she can be, lives the life she wanted.

It is a myth that many people believe that with a reserve mortgage, the bank would own the home. Nothing could be further from the truth: reserve mortgage is no different than a conventional loan that banks would just put a trust deed on the borrower’s home. Yes, the mortgage grows larger each year because payments were not made, but as long as the borrower lives in her home, the mortgage will to be due. The mortgage only due when she moves into an assistant living care home/nursing home or she passes away. After her death, who is taking over her home? Her children do. They would have about 12 months to decide to inherit home and refinance out of the reserve mortgage or just simply sell it to pay off the bank.

Reverse mortgage is not right for every elder. Each person’s situation is different. That is why it is crucial that if you are thinking about getting a reverse mortgage, speak to qualified mortgage broker first. You also should contact a HUD(Department of Housing and Uban Development) approved agency for a consultation before starting the process. Equipped with the information, you also should discuss with your family to make sure everybody is on same page that would ensure the whole process goes as smooth as it can be.

04/14/2020

So do not be surprised to the room is packed...