Residential Loan
With access to over 130 direct investor sources, we offer the best residential loan programs in the nation. Whatever your situation, we can find a residential loan program that meets your needs.
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Residential Loan Programs
 

Ocean Pacific Capital is a full service mortgage company and has been in business since 1977. You'll get the trusted, expert services that you deserve. We pride ourselves on providing personalized customer care, so whether you want to refinance your current mortgage or are looking for a home purchase loan, we will structure the most appropriate financing program to meet your unique and individual needs.

We offer 50, 40, 30 and 15 year fixed rate jumbo mortgages and competitive ARM products with full document, alternative documentation, limited documentation, or no documentation. Our fixed rate loans offer you the peace of mind that you will never have to worry about the interest increasing on your loan program. The rate you obtain at the beginning of the loan will be the same rate throughout the remainder time of the loan program. The fixed rate is set when the loan is made and never changes. The 1 percent loan; however, will give you the freedom to choose what payment you want to make for the month! Starting with a rate of 1 percent, this program gives you 4 different options to choose from starting with the minimum payment; covering part of your interest rate, full interest payment, principal and interest payments can be amortized over 50, 40, 30, and 15 years.

We also offer flexibility in our loan programs with a no point loans where there is no need to have to pay any up front fees. With interest rates still hovering near historic lows, it makes sense to consider purchasing a home or refinancing your current mortgage. Ocean Pacific Capital can also identify the best loan for you when trying to qualify for a non-traditional loan. Single family detached, Condo's, PUD's and single-family second homes can be financed with no prepayment penalty. 100% purchase is also available with 0% down payment.

Simply apply online or call us toll free at 1-800-595-1474 for a free consultation with one of our experienced and friendly loan officers. Find out more about some of our loan programs below:

 

 
CONVENTIONAL
Traditional loan programs that usually require 5% down and offer competitive interest rates. Documentation and fair-to-good credit are necessary. A loose term, which generally refers to a fixed-rate conforming, loan other than an FHA or VA loan. This is usually not insured or guaranteed by FHA and VA, which conforms to the guidelines established by the Federal National Mortgage Association, or the Federal Home Loan Mortgage Corp.
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JUMBO LOAN
Offers 30 and 15 year fixed rate mortgage and competitive ARM products with full document, alternate documentation and limited documentation.
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NO INCOME
This is a non-conforming loan program, which does not require any type of income verification if the Borrower has excellent credit and 4-6 months of stated income in liquid reserves. These loan programs carry a slightly higher interest rate than conforming loans, and are especially useful for people who are self employed, commissioned, or receive unearned income (i.e. investments). Income is not requested or verified with as little as 10% down are stated income loans. There are numerous selections of the "no-doc" loan program today. The type of loan program that is best suited for a particular borrower depends on that borrower's situation. Some borrowers choose not to disclose income, employment, or asset information, while others may be willing to disclose employment and asset information but not income. Yet others may be disposed to disclose income but opt for a loan program that doesn't calculate debt-to-income ratios, allowing those borrowers to exceed the traditional guidelines in order to qualify for a larger mortgage amount. With all the diverse variations of the no-doc loan, there is definitely a mortgage program for today's non-conventional borrowers.
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100% PURCHASE
0% Down payment required and closing costs paid by the borrower (seller can contribute up to 6% towards closing costs).
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80/15/5, 80/10/10, or 80/20 LOAN
This is a loan that carries a second mortgage for up to 15% of the purchase price of the property. It is usually used when wishing to avoid PMI insurance or to keep your first mortgage under the FNMA/FHLMC limit to avoid Jumbo rates. The borrower puts down a 5% down payment and then finances a first mortgage up to the FNMA/FHLMC limit and a second mortgage of up to 15% of the purchase price. Other variations are 80/10/10 or 80/20.
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HIGH DEBT RATIO LOAN
A ratio of monthly bills to monthly income higher than 50% is considered a high debt ratio. Loan programs are available for borrowers in this situation, allowing them to finance the purchase of a home or property. Not every borrower has the ability to obtain a home mortgage from a traditional source. There are many factors that are considered when applying for a loan and for any number of reasons a borrower may be able to meet those requirements. First Call understands that you may have a special situation that requires flexible underwriting guidelines. Our loan officers have a variety of programs and investors that will grant you financing at competitive rates even though your credit scores may be below average or you may not be able to prove that you earn enough money to qualify for a mortgage. In these situations it is critical that you create a relationship with a lender that understands the complexities involved with finding a loan with the best terms available. First Call loan officers are experts in analyzing all of the available products, and tailoring a mortgage program to meet the needs of our valuable clients.
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FIRST MORTGAGE LOAN
A loan used to finance the purchase of a home. The primary lien against a property. Literally the first mortgage that is taken out on a property. Borrowers may, in some instances, take out a second mortgage and leave the first in place.
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2NDMORTGAGE FIXED-RATE LOAN
Subordinate to the first mortgage these loans offer the borrower the ability to get money for home improvement, debt consolidation or many other reasons without disturbing their first mortgage. Convenient when you have a low interest first mortgage. There are many reasons for you to want to consider a second mortgage on your home. Home improvements, debt consolidation, business investment, or education, are just a few. With so many different motivations for obtaining a second mortgage, you need to be able to choose the right option for you.
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CONSTRUCTION LOAN
Building a new home can be an exciting prospect - unless you get caught up in a construction loan approval process that's overly complicated and time consuming. Getting approved for a construction loan often requires applying for two loans, one for construction financing and one for permanent financing. But we offer a Construction-To-Permanent home loan that combines both types of financing into one loan. With this loan program we will finance the costs of land plus the costs of construction. We offer a one time fixed rate closing or traditional ARM products. Depending on local custom, a construction loan may a permanent mortgage with funds disbursed as construction proceeds, or may be a short-term loan that must be repaid on completion. One loan, one closing, and one set of fees! This takes you from groundbreaking to completion in one easy process. We offer a number of different types of construction loans. Building your dream home can be one of the most exciting events in you life.
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INVESTOR / NON-OWNER OCCUPIED LOAN
This loan program is used to finance 1-4 family properties that will be for investment with as little as a 10% down payment. Aggressively priced, these loan programs have many variations such as No Doc, Limited Doc and Full Doc.
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10, 15, 20, 30, 40 YEAR LOAN
All residential real estate loan programs offered by Ocean Pacific Capital will be set up on 10 year, 15 year, 20 year, 30 year, or 40 year terms (the life of the loan / amortization period). There are numerous loan programs with fixed and adjustable rates for you to choose from. These loan programs offer great flexibility for borrowers. The longer the life of the loan the lower the monthly payments will be on your mortgage, and just as the shorter the life of the loan, the higher the monthly payments. It is entirely your choice what loan program to go with to adjust your own personal needs.
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FIXED RATE LOAN
Offer the peace of mind where you will never have to worry about the interest on your loan program. The rate you obtain at the beginning of the loan will be the same rate throughout the remainder time of the loan program. The rate is set when the loan is made and never changes.
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ADJUSTABLE RATE MORTGAGE (ARM)
1/1, 3/1, 5/1, 7/1, 10/1 LOAN

Your interest rate and payment can change annually after the first 1,3,5,7, or 10 years depending on the type of ARM product you choose. Your interest rate and payment amount will increase if the Index rises and decrease if the Index falls.
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1% LOAN
Have the freedom to choose what payment you want to make for the month! Starting with a rate of 1%, this programs gives you 4 different options to choose from starting with the minimum payment; covering part of your interest rate, full interest payment, principal and interest payment amortized over 30 or 40 years, and lastly the full principal and interest payment amortized over 15 years.
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"STATED INCOME" LOAN
This program benefits all those self-employed or salary-wage earners, that don't file taxes with a W-2 form.
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SUBPRIME PURCHASE
Buying a home? Need a loan, or even a 100% loan? Not a problem. If your seller is paying all closing costs, there is nothing you need to worry about. We will be more that happy to provide you with the best loan program to suit your scenario.
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SUBPRIME "BRUISED-CREDIT" LOAN
Troubled credit? Bankruptcy? Been turned down somewhere else? We offer loan programs for customers with credit problems. Bankruptcy or foreclosures are ok, even late mortgage payments are ok. WE SAY YES
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CASH-OUT REFINANCE LOAN
Cash out and No cash out refinance are allowable. Single family detached, Condo's, PUD's and single-family second homes can be financed with no prepayment penalty. The process of refinancing for an amount higher than the balance due, assuming the property has a sufficiently high value A Cash Out Loan is a refinance in which the amount of money received from the new loan exceeds the total of the money needed to repay the existing first mortgage, closing costs, points, and the amount required to satisfy your existing mortgage liens. In other words, a home refinance loan in which the borrower receives additional cash that can be used for any purpose.
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DEBT CONSOLIDATION LOAN
This may be your golden opportunity to re-establish your credit, recover from overwhelming debt, or consolidate your high-interest debt into one easy, low-interest monthly payment. Pay off high interest credit cards and loans into one low monthly payment! With a debt consolidation loan, you can reduce your monthly cash outflow and save significant money by paying off your high interest credit cards and consumer loans. Less than perfect credit doesn't prevent you from qualifying for some programs.
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LOWER RATE AND TERM REFINANCE LOAN
These programs are specific for borrowers who need to lower their interest rate and mortgage payment and don't necessarily need to take money out of their property. A refinance loan whose amount includes only the payoff of the existing mortgage and the closing costs associated with the refinance. The purpose of this type of refinance is to obtain a better interest rate or fix a longer or shorter term.
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HOME EQUITY LINE OF CREDIT (HELOC)
Home Equity Line of Credit. A variable rate line of credit secured by a homeowner's equity. Enjoy the luxuries of having a credit card without the stress of having a credit card. By obtaining a HELOC you have the luxury to pull as much or as little money you want from the equity in your home at a lower interest rate than the average credit card company would offer. The lender provides funds on demand, with a corresponding lien against the property. The loan must be repaid in installments after a specified draw period. The interest rate of a HELOC follows a market interest rate such as the Prime Rate. As the Prime Rate moves, so does your interest rate. Another typical characteristic of a HELOC is that most have a interest only payment option for some part or the entire life of the loan. This gives you the ability to keep your monthly payment low when you choose to. Back to Top
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HOME EQUITY LOAN
Home Equity Loans in contrast to Home Equity Lines usually have a fixed interest rate and fixed term. This product provides the security and comfort of knowing that your payment will not change. See Home Equity Line (HELOC) for more details.
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INTEREST ONLY LOAN
Ocean Pacific Capital has a wide variety of programs available to suit your needs. These programs offer a great flexibility of only making payments on the interest portion of your mortgage.
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BALLOON LOAN
A balloon note is amortized over a period of time with a condition in the note that the loan will be called due (pay the remaining principal balance in full) prior to full amortization. Balloons end after a specific time, usually one to five years, after which the entire remaining balance must be paid in a lump sum. The 7-year balloon note amortizes payments over 30 years and the payment amount is based on a 30-year pay back instead of 7, but the unpaid balance is due after 7 years of payments. The Borrower can sell or refinance prior to the end of 7 years. There are various terms for Balloon Products. This loan program has a fixed rate.
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NO POINTS LOAN
With this program there is no need to have to pay any up front fees whatsoever. With interest rates still hovering near historic lows, it makes sense to consider purchasing a home. Even though you may not have the traditional down payments that your parents and grandparents were required. Ocean Pacific Capital can identify the best loan for you when trying to qualify for a non-traditional loan.
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A - THRU D LOAN
These mortgages are for the credit challenged. They can vary from slightly damaged credit to severely damaged. Whatever the situation we have a mortgage that will get you back on track.
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FLEX 97% LOAN
This loan program is similar to FHA but without maximum mortgage amount limitations. Usually used for first time buyers and a small down payment. Must be a single family, owner occupied home and borrower must have a credit score of over 680.
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BIWEEKLY MORTGAGE
A mortgage with payments made every two weeks instead of monthly. Since a bi-weekly has 26 payments per year -- the equivalent of 13 monthly payments -- the loan is paid off much sooner typically in 18 - 20 years as opposed to monthly payments for 30 years. The early payoff saves substantial amounts of interest.
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BRIDGE LOAN / BLANKET LOAN
Bridge loans allow you to purchase your new home before you sell your existing home. A type of 2nd mortgage. A loan used (usually) to finance the down payment on a new home before the previous property is sold. Previously commonly available, bridge loans are hard to find and are expensive.
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CONVERTIBLE ARM LOAN
An Adjustable-Rate mortgage with a borrower's option to convert to a fixed-rate mortgage under specified conditions.
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FHA MORTGAGE LOAN
A mortgage insured by the Federal Housing Administration. Typically, FHA mortgages require somewhat lower down payments and less stringent qualification requirements. The borrower pays a relatively high mortgage insurance premium, which can be paid monthly or added to the total loan amount.
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HOME EQUITY CONVERSION MORTGAGE
Literally, a Reverse Mortgage, which allows (usually) elderly homeowners who have a substantial equity to convert the equity into cash. A lender makes regular payments to the homeowner, with a corresponding lien building against the property. The loan must be repaid at a specified time or when the borrower no longer occupies the property.
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REMODELING LOAN
Are you longing to remodel your kitchen or add a room on to your house, but are unable to find the cash to do it? You can use the equity value in your home for the home improvements! Home improvements can help accelerate the value of your home or get your home ready to sell. Here are more tips to consider when you plan to improve your home: Before deciding on a final loan amount, complete a cost breakdown that details the expected cost of your home improvement. Include items needed such as building materials (lumber, concrete, etc.), labor, decor (paints, tile, etc.) and a contingency amount for potential unexpected expenses. If you make home improvements with the intent of escalating the resale value of your home (as opposed to just making it more comfortable to live in), make sure the renovation will add the value you want. For example, a bathroom renovation might recover the money spent and more, whereas adding a pool might not. A home equity loan can provide a tax-deductible way for improving your home to look the way you really want it to, while increasing the value. Note; you should always check with a tax advisor concerning the deductibility of interest.
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LOT LOAN
You've just found the perfect lot on which you'd like to build your dream home. If you can't build immediately, many banks can't provide appropriate financing. But Ocean Pacific Capital specializes in the unique needs of people seeking land-only financing. Benefits:
  • Reasonable down payment plans
  • Convenient 5-year repayment terms, with long term amortization schedules
  • Competitive pricing

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CHAPTER 13 BUYOUT
Yes you can refinance out of Chapter 13 Bankruptcy now! Why wait? You can refinance your home and pay of your Bankruptcy Trustee. Get out of Chapter 13 Bankruptcy and start re-building your credit. Ocean Pacific Capital can provide a Chapter 13 Bankruptcy Mortgage refinance for people who can't qualify for conventional mortgages.
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Whatever your financing needs,
we will tailor a loan that's right for you.

 
 
 
Rate Est. APR
30 Year Fixed
5.000% 5.094%
15 Year Fixed
4.75% 4.911%
3/1 ARM
4.25% 4.340%
3 Year Interest Only
4.375% 4.465%
*may include points
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