For today's home buyers, choosing the right mortgage is as important as choosing the right home. There are a variety of loan programs, loan terms, loan rates and loan options available today, including:

  • 10%,15%, and 20% down with 30 year fixed rate

Buyers may prequalify for a loan with lenders who have previously financed mortgages at Ocean Walk or West Campus Point. A lenders list is available upon request: sbha-info@ucsb.edu

Certain loans are available to faculty buyers through the UC Office of Loan Programs. For additional information on the MOP Loan go to UC Office of Loan Program.

Many renters think that they just can't afford to buy a new home. And they are pleasantly surprised to find that a house payment is very comparable to their monthly rent. To find out how affordable a new home at Ocean Walk can be, use the Rent Vs. Own Calculator.

Mortgage Calculator

 

20090227112753keys2.jpg

New home $550,000

Down payment $55,000

Down payment percent 10%

Loan Amount $495,000

Interest Rate 3.875%

Mortgage Payment* $2,817.26

*estimated monthly mortgage payment plus property tax and mortgage insurance (PMI)

family_home.jpg

New home $695,000

Down payment $104,250

Down payment percent 15%

Loan Amount $590,750

Interest Rate: 3.875%

Mortgage Payment* $3,307.40

*estimated monthly mortgage payment plus property tax and mortgage insurance (PMI)

11790family_house.jpg

New home $795,000

Down payment $159,000

Down payment percent 20%

Loan Amount $636,000

Interest Rate 3.875%

Mortgage Payment* $3,274.04

*estimated monthly mortgage payment plus property tax and mortgage insurance (PMI)