Looking to refinance your home mortgage loan? Ocean Pacific Capital has been in the home mortgage business since 1977. We have access to over 130 lenders competing for your business, so you'll have the peace of mind that our refinance home mortgage loan rate is the lowest possible for your situation. Simply call us today toll free at 1-800-595-1474 for a free consultation with one of our friendly and experienced Loan officers.
The first thing the borrower needs to consider when refinancing is, "Would getting a refinance Loan be worth it?"
Refinancing can be worthwhile, but it does not make good financial sense for everyone. A general rule is that a refinance home loan becomes worth your while if the current interest rate on your loan is at least two percentage points higher than your refinance Loan rate you are rated.
This figure is generally accepted as the safe margin when balancing the costs of refinancing a loan against the savings.
There are other considerations, too, such as how long you plan to stay in the house. Most sources say that it takes at least three years to realize fully the savings from a lower interest rate, given the costs of the refinancing. (Depending on your loan amount and the particular circumstances, however, you might choose to refinance a Loan that is only 1.5 percentage points higher then the current rate. You may even find you could recoup the refinancing costs in a shorter time). There are other reasons to refinance that are exceptions this general rule such as cashing out equity for other investments or to consolidate high interest credit card and other debts.
There are actually three different kinds of debt refinance loans. Each type is specifically designed to meet a different need. If you're considering debt consolidation, the first thing you need to determine is what results you want.
1. The first type is Debt Refinance for Lower Monthly Payments. Unless you're a careful manager, you can in over your head with credit card payments without even realizing it. You start with one card, make some purchases with it, and you start paying it off on a monthly basis. Then you get another card, do the same, and start paying that one off at so much a month. Before you know it, several "so much a months" have added up to a very large ammount you can no longer afford, or struggle to pay each month.
One of the ways debt refinancing can benefit you is by taking all those monthly payments and consolidating them into a single monthly payment that you can afford. It does this by stretching out the terms of the loan. In other words, you'll take a bit longer to pay off the total amount. But if you're interested in this kind of debt consolidation, the peace of mind you get from knowing you can live within your budget is worth it.
However, you must be aware of debt refinancing schemes that offer you lower payments, but a higher rate of interest than you're paying now. You'll be forever paying off the loan and you'll pay a huge amount of interest, as well. At Ocean Pacific Capital, we will meet with you at your home, office, or any convenient location to present a free personalized analysis of your situation. Whether you decide to consolidate or not, you will come out of the meeting knowing exactly what your interest rate will be, how much you will be saving, and how long it will take you to pay off the loan. We'll provide you with a free credit report and you can ask our friendly loan officer any questions you might have about the refinancing process.
2. The second type is Debt Consolidation for Savings on Interest. If you're a typical American, you're probablly carrying a balance on two or more of your credit cards, possibly at an interest rate of something between 15 and 22 per cent. As a result, a large chunk of your monthly payment is going into paying off the interest, rather than the principal of the loan. Unless you increase the amount you pay each month, it's going to take a long time to pay off those cards. Depending on how long you take to pay off the debt, the total amount of interest you pay could add considerably to the price of whatever you bought with the card in the first place, or even double it.
The solution to saving money on interest is a low-interest Debt Consolidation Loan. If you continue to pay the same amount you're paying now on a concolidated low-interest loan, you can pay back the debt faster because you're now paying down more principle. At Ocean Pacific Capital we have access to over 130 different lenders. This means lenders compete for your business and we'll find you the lowest rate debt consolidation loan possible for your situation.
3. The third type is Debt Consolidation to be Debt-Free Fast. This type of loan allows you to quickly pay off your debts so you can be debt-free. To accomplish this, you need to be able to have the cash flow necessary to increase the amount money you pay off each month. You could accomplish this by just adding a few dollars to each of those checks you write to your creditors every month. But to really cash in on the savings you can accrue, look for a debt consolidation loan that is low-interest and short-term. By decreasing the overall interest rate on the money you owe, you end up paying off less money in the end, especially if you're prepared to make larger payments so you can pay it off fast.
Ocean Pacific Capital has been in business for over 31 years and has access to over 130 lenders. Whatever your credit score we can match you with a lender that has a program that best fits your unique situation. Visit our Loan programs page for everything you need to know about refinance Loans.
Rates are the lowest they've been in close to 30 years. Refinance now to get a lower rate or turn your adjustable into a fixed rate and get fast cash! Don't miss the opportunity to inquire now and save thousands!
The following is an overview of our loan programs. For more details please visit our residential page.
Premier home loan Financing!
Ocean Pacific Capital's home loan financing department is designed to meet our client's personal and investment goals from both a performance and cost perspective. With flexible home loan financing options, we are able to meet the needs of our borrowers' home loans. Whether you need to refinance your current home loan or need to acquire a purchase home loan, we will structure the most appropriate home loan finance program to meet your needs. To start your short home loan application, click here.
Home Program Overview
Our home mortgage loan program is designed to minimize costs while delivering the best home loan to meet our client's needs. We offer:
- home mortgage loans starting as low as 1.00%
- home loan mortgage interest only payment option
- 30-year fixed home loans (No balloon home loan)
- Cash-out home mortgage loans
- home mortgage loan payout periods of 3-5-7-10-15-30-40 fixed interest rates
- 30-day/45 day closing guarantee on all home loans
- home mortgage loans available for a less-than-perfect credit score (what some people call "bad credit")
- A high debt-to-income ratio can qualify for home loans
- home loans available even if you have previous bankruptcy or any other money issues
- Low-rate home loans, no-point home loans
- Conforming home loans and non-conforming home loans
- Full-doc home loans, stated-income home loans, & no-doc home loans
Ocean Pacific Capital's Underwriting Guidelines
- Minimum home loan size: $100,000-conforming
- Maximum home loan size: non-conforming-$10 million
- Maximum home loan Financing: LTV/CLTV: 95%
- All types of home loan Financing Available
- home loan rates start at 1%
- home loan fixed rate terms: 3-15 Years
- home loan term: 30 Years
- home loan lender fees: No cost, zero lender points also available
For up-to-date interest rates, for a free quote on a home mortgage, call us toll free at 1-800-595-1474
We offer a variety of loan application options, including
a Quick Application, a Standard Application, and a 5 Step Application. Click here to get started!