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: 5%, 10%, and 20% down with a 30 year fixed rate.

Buyers may preapprove for a loan with lenders who have previously financed mortgages at Ocean Walk. 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 Programs.

For additional information on the Zero Interest Program Loan (ZIP) go to the Office of the Executive Vice Chancellor.

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

Current Rent $3,725


New home $662,000


Down payment $33,110


Down payment percent 5%


Loan Amount $628,900


Interest Rate 7%


Mortgage Payment* $5,534.89


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

family_home.jpg

Current Rent $5,200


New home $803,000


Down payment $80,300


Down payment percent 10%


Loan Amount $722,700


Interest Rate: 7%


Mortgage Payment* $6,260


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

11790family_house.jpg

Current Rent $6,000


New home $952,000


Down payment $190,250


Down payment percent 20%


Loan Amount $762,000


Interest Rate 7%


Mortgage Payment* $6,499


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