| Below you will find answers to some
of the most frequently asked questions. We hope you
will find all of your answers below. If you have any
further questions please do not hesitate to Contact
Us. |
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Are you a lender or a broker? |
| PacificBanc Mortgage is
a direct lender. |
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Are you a Subprime lender or an “A” paper
lender? |
| PacificBanc Mortgage is
a full service mortgage banker having a wide array
of mortgage products. Of course, the subprime days are long gone, so our new focus is on FHA and Conventional products. |
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What is the lowest FICO score that you can do? |
| Our lowest FICO score is
640. |
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What is the maximum rebate that you offer? |
| Our maximum rebate is 3
points with approved brokers and 2 points with non-approved brokers. |
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What is the lowest FICO for 100% financing stated
income? |
| This program may no longer be available. Please contact your account executive for new pricing. |
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What is the lowest FICO for interest only? |
| Please contact your AE for updated information. |
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How does the Option Arm loan work (1% start rate)? |
| This program is no longer available. We offer FHA and Conventional productions, including the 5/1 ARM. |
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What is your turnaround time for approvals/docs/funding? |
When we do automated
approvals on our programs, our turn around times
are as follows...
72 Hours Underwriting
48 Hours Condition Sign Off
24 Hours Doc Draw
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Do I need to be approved with you before I submit
a loan? |
| You can submit a loan and
get loan docs first. We will get you approved prior
to funding the loan. However, PacificBanc Mortgage strongly suggests that you recieve approval prior to submitting a loan. |
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What are your appraisal requirements? |
| Please contact your account manager for updated requirements. |
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| How
can I access your rate sheet/promotions? |
| Click on the Rates
& Matrices link. |
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What states are you licensed in? |
| We are currently licensed
in California. We are adding Arizona and Nevada in
the near future. |
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Do you deal with first time home buyers? |
| We specialize in first time
buyer programs. |
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Do you do commercial loans? |
| No we do not. |
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Do you do land or construction loans? |
| No we do not. |
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