Ask us about your loan options in today’s market.

It’s a buyers market right now. Take advantage and let our loan specialists help you find the loan that best fits your needs and resources. Pre-qualifying can give you an accurate assessment of the home loan that you can reasonably afford.

Home Finance Resource Center

After selecting the perfect home it is important to choose the home loan that best suits your needs. Your Loan Specialist will assist you in selecting the right home loan program from our diverse portfolio. Standard Pacific Mortgage offers a wide-range of loan programs, including:

Fixed Rate Loans offer a set interest rate and payment amount for the full length of the loan, usually 15 or 30 years.

Adjustable Rate Mortgages (ARMs) or Variable Rate Loans typically start with a lower interest rate than most Fixed Rate loans. The interest rate on these loans changes after a predetermined amount of time and the monthly mortgage payment adjusts accordingly. After a preset payment period (usually 1, 3, 5, or 7 years) the interest rate man adjust (usually semiannually or annually) on the basis of the movement in a specified index. As the interest rate adjusts, the mortgage payment will also adjust.

FHA Loans are insured by the Federal Housing Administration. FHA loans allow homebuyers to put as little as a 3% downpayment on a home. These loans also allow the downpayment or closing costs to be paid by a gift. FHA loans may not be available on all Standard Pacific homes.

VA Loans are guaranteed by the Department of Veterans Affairs and are available to veterans and those currently serving in the military. VA loans are often made with little or no downpayment. VA loans may not be available on all Standard Pacific homes.

Second Trust Deeds/Second Mortgages provide an alternative to mortgage insurance. These loans are also called ìpiggybackî loans because the second loan is often added to the first loan. Many lenders refer to these programs as an 80/20, 80/10/10, or 80/15/5. The 80/10/10 program, for example, is based on a first mortgage for 80% of the homeís value, a 10% downpayment, and a second trust deed for 10% of the homeís value. Second trust deeds/second mortgages typically have higher interest rates than first trust deeds.

Bridge Loans are short-term loans that draw on the equity of your existing home to bridge the period between the closing of the home you are buying and the closing of the home you are selling. Bridge loans are only available in select areas.

Easy Qualifier Loans require limited, alternative documentation, no income/asset documentation, or state income/stated assets.

100% Loans do not require a downpayment. Borrowers must pay closing costs.

When you obtain credit, whether it be through a credit card, personal loan, mortgage, or insurance, the credit reporting agency compiles a report of your information. The report is used to develop your credit score, which influences the kind of loan you may obtain.

Your credit scores provides lenders with a quick, objective method to assess your credit worthiness. Lenders use your credit score to help determine your loan approval. The higher your credit score, the easier it will be for you to receive an automated loan approval.

Many times borrowers who receive automated loan approval also obtain lower interest rates and may have fewer conditions attached to their loan approval. If you do not receive automated approval, you credit report can help lenders evaluate your credit worthiness and extend credit to you, even if your scores are lower but your payment history has improved.

Your lender will likely offer products to you depending on your credit score. Please speak with your Loan Specialist for more information about loan products and interest rates.

It is important to maintain a healthy credit score. There are no quick-fixes to improving your scores. The following tips will help you manage your credit responsibly:

  • Pay your bills on time. Delinquent payments can have a major impact on your credit score.
  • Contact your creditors if you are having trouble paying your bills. Creditors will often work with you to help you manage your debt.
  • Keep your balances low on credit cards. High debt can negatively affect your score.
  • Pay off debt rather than moving it around.
  • Closing unused credit cards will not improve your short term credit score.
  • Don’t open new cards you don’t need to increase your available credit.
  • Beware of opening too many accounts too quickly.
  • Shop for rates for loans within a specific period of time. All inquires for certain types of loans count as one inquiry if made within a predetermined amount of time. For example, when shopping for a mortgage, each credit inquiry made by a lender within a 45-day period counts as one inquiry on your credit report.
  • Re-establish your credit if you have had problems. Paying new accounts responsibly will help improve your score over time.
  • Apply and open new credit accounts only as needed.
  • Manage your credit cards responsibly.

It is important to make sure that all the information that appears on your credit report is correct. You are strongly encouraged to check your credit report once a year, especially before making large purchases. Your credit report is not affected by consumer-initiated inquiries. To request of copy of your report, contact the credit reporting agencies below.

If you believe that your credit report contains incorrect information, you must notify the credit reporting agency in writing with copies of supporting documents. The credit reporting agency must investigate and respond to your inquiry within 30 days. You should also notify your lender if you are applying for a loan. Your lender will order another credit report after changes have been made by the credit reporting agency.

Purchasing a home is likely one of the most significant financial decisions you will ever make. Our loan specialists are dedicated to helping you smoothly navigate the financing end of the home buying process.

Step 1 - You purchase your new Standard Pacific Home

Your Standard Pacific Sales Agent will provide you with a Standard Pacific Mortgage Prequalification form. He or she also will open your Escrow/Title account and hold your deposit as a downpayment for your new home.

Step 2 - Your Loan Application

Your Standard Pacific Sales Agent will provide you with a Standard Pacific Mortgage Home Loan Application Packet. This packet contains important information about your Standard Pacific Mortgage Loan Specialist, helpful hints about buying a home, loan disclosure documents, and your home loan application. The application must be completed and submitted to your Loan Specialist with proper documentation in order to assure a prompt reply.

Step 3 - Your Loan Application is Reviewed

Your Loan Specialist and Loan Processor will review your loan application and may request verification or additional information to assist in a smooth loan process.

Step 4 - Your Good Faith Estimate and Truth in Lending

After your Loan Specialist receives your loan application, you will be sent your Good Faith Estimate and Truth in Lending statement. The Good Faith Estimate provides an estimate of your closing costs, mortgage payment, and other applicable fees. The Truth in Lending statement provides an estimate of your Annual Percentage Rate, finance charge, and total amount paid over the life of the loan. This information may change if any changes are made to your loan program, interest rate, closing date, etc.

Step 5 - Your Loan Goes to Underwriting

Your loan application will be examined by an Underwriter to assure that your income, credit history, and debt are within the limits of your selected loan program. Your Underwriter may request additional information (conditions) in order to confirm that you meet the loanís requirements. Your Loan Processor will notify you if any conditions are required before the close of your loan.

Step 6 - Your Loan is Approved

You will receive an approval letter after your loan is approved. This letter will list the significant terms of your loan and will identify any conditions that must be satisfied prior to closing your loan. All conditions must be submitted to your Loan Processor as soon as possible in order to avoid delays in the closing of your loan.

Step 7 - Your Interest Rate is Locked

Your Loan Specialist will discuss current interest rates with you during your loan process and will assist you with determining the appropriate time to lock the interest rate on your home loan. Your interest rate must be locked before your loan documents can be finalized and ordered.

Steps 8 & 9 - Your Loan Documents are Ordered and Reviewed

Your Loan Processor will order your loan documents after all of your loanís conditions have been satisfied and your loan has been locked. These documents will be sent to Escrow/Title for further review.

Step 10 - You Sign Your Loan Documents

Your Escrow/Title Agent will make an appointment with you to sign your loan documents and will notify you of the amount of money you need to bring to closing. You will receive a copy of your final loan documents at this meeting.

Step 11 - Your Loan Funds

Escrow/Title will balance your account and fund your loan after your loan documents have been signed.

Step 12 - Your Loan Documents Record and Your Loan is Closed

After your loan funds, all necessary loan documents are sent to your title company for recording and your loan is closed.

Step 13 - You Receive the Keys to your New Standard Pacific Home

Congratulations! You are ready to move into your new home!

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