Ocean Capital Lending, LLC a direct lender and servicer, exclusively offers an array of residential loan products. Whether you are looking for a residential mortgage to purchase that new home or construct the home of your dreams, Ocean Capital Lending, LLC has all the right loan programs to offer. Our experienced lending team will be glad to assist you in choosing the right loan product that fits your goals and needs.
Preapprovals: Obtain a preapproval before you shop for that new home with no upfront application fees.
Loan programs (Current as of 11/01/2024):
- Fixed rate loans – 10 thru 40 year fixed rate
- Adjustable rate and interest only loans (ARM) – 6 mos, 1, 3, 5, 7, 10 year fixed products
- Helocs/2nds fixed (up to 95% CLTV primary, 90% 2nd home, investment/LLC, 2 – 4 units, combos/piggyback, stand alone, cash outs, bank statements, P&L, DSCR ok)
- Option Arms / Negative Amortization (Primary, 2nd Home, Investment OK – State Restricted)
- Construction to Permanent – primary, secondary and spec, custom, owner builder
- Conventional 95% construction up to county loan limits, lower LTVs available for jumbo construction
- FHA and VA construction to perm (subject to county limits – 96.5% FHA, 100% VA allowed)
- Jumbo Loans – ARMs, Fixed, 15 and 30 year products up to $25,000,000+
- High Balance Conventional Options
- Investment Loans – 1 – 4 unit dwellings – 85% LTV, 5 – 10 units – 75% LTV (Multifamily, Mixed Use)
- Bridge Loans – 12 mos interest only, 90% CLTV, 1 unit SFR only
- Land Loans – lot loans, rural, raw land (65% financing, lower LTVs with private money)
- 97% Financing Programs, 100% (with approved community seconds, seller held 2nds)
- (FTHB) First time home buyer programs with reduced mortgage insurance up to 97% financing
- FHA 203k full/streamline, HomeStyle renovation financing (Owner, 2nd home, investments OK)
- HomeReady and HomePossible
- FHA/VA down to 500 fico (100% financing offered as combo 96.5/3.5 available above 580 fico)
- Conventional down to 620 fico, case by case no minimum
- Warrantable/Non warrantable condos, co-ops and condotels – cash outs OK
- Stated income, DSCR and no income for investment properties
- No income – asset/net worth lending, asset depletion – primary, 2nd home and investments
- 12-24 months bank statements / Alt doc for self-employed – business bank statements OK
- Blanket/Portfolio lending, Cross Collateral
- Subprime, bank fallout and non-prime lending
- 1 day out of foreclosure, bankruptcy, short sale, deed-in-lieu, 2nd chance financing OK
- Foreign nationals, tax ID, Expat, ITIN <2 yrs employment OK
- LLC, Corporate/Business lending, Fix and Flips
- Unique property types OK (log homes, rural, shipping containers, geodesic dome, earth OK)
- Down Payment Assistance Programs (DPA) up to 5%
- FL Housing, CalHFA DPA options
For more information about rates and products, contact your loan advisor to make an appointment to discuss which program is best for you.