Pacific Bay Financial has been in business for over 24 years. We have acquired a reputation as one of the best mortgage companies in the Bay Area through our constant effort to offer the highest quality service to our clients. In this challenging lending environment, banks and borrowers find it difficult to find the right answers.
At Pacific Bay Financial, we are focusing on filling in that gap. We analyze clients' needs, help them utilize their potential and find financial sources to give loans that can be managed and repaired.
A couple was going through a divorce where a husband wanted to keep the house. They agreed that the value of their home was $800,000. The current mortgage had a balance of $350,000.
To enable him to keep the property, he had to give his ex-wife his share of the difference or $225,000. As a result, his new loan was $575,000 or 72% LTV. For most of the lenders, this transaction is called a “cash-out refinancing”. This triggers an increase in the rate and limits the LTV to 60%.
Meet up with Manny and his friends for a night of sharing common interests and ideas. You will have the opportunity to meet people with common real estate interests who own or want to buy commercial or apartment buildings, share, or address any ideas and concerns.
This month's Meet up event will take place on:
March 13th at 2345 24th Ave, San Francisco, CA 94116, from 6:30-8:30pm.
A single mom with a daughter wanted to buy her own house. She felt she was over the bitter divorce, which left a short sale on her credit records.
She had $54,000 in her bank account. We could get her an FHA loan, which would have high MI monthly payments. Instead, I decided to chose the program without mortgage insurance.
Her real estate agent found a house for $568,000. With 10% down payment (her sister lent her $10,000 to cover the difference and the closing costs), her new mortgage payment was $2,477 less than her current rent.
Whom do you know that might benefit from our tailored mortgage solutions?