New purchases   Whether you are buying your very first home or have done it all before, Pacific Capital Mortgage offers a loan program to fit your financial profile. We can prequalify you in minutes by phone, mail, fax or internet...even face to face! Most importantly, we offer 24 hour loan pre-approval on selected programs to give you the edge in securing the home you really want. Need a first-time-home-buyer program? We’ve got them!

Refinance  There are many reasons borrowers choose to refinance an existing mortgage, the most common of which is to reduce one’s monthly payment when interest rates drop. At a certain point in your “financial career” it can also be prudent to consider reducing the term of your loan, saving your self money by paying off the mortgage in 15 (rather than 30) years. If you have a balloon payment coming due, need to buy out a relative or ex-spouse, or need cash out of the property for any good reason, give us a call. We’ll help you determine free of charge if refinancing makes sense!

Cash out refinance  Debt consolidation, home improvements, education, investments, major purchases...these are the financial needs most home owners face at various times in their lives. Using the equity in your home, second home or investment property to get in a better financial position can make real sense. If you can’t part with your current first mortgage, a second mortgage or equity line of credit might be a better alternative. Pacific Capital Mortgage has an absolutely staggering array of choices. We can get you cash up to 100% of your property’s value (125% on approved credit).

Vacant land  Pacific Capital has one of the best lot loans in the business! How about a fixed rate, 20 year term with NO balloon payment? Call us for details!

Construction loans  Residential construction loans + permanent financing in a “one time close.” Call for details.

Income property  If real estate is a key part of your investment portfolio, you’ll definitely want to give us a call. Single family residences, condos, units, apartment buildings -- we do it all! Low down payment, stated income purchases and refis, plus cash out programs also available.

Difficult credit  Credit problems, past or present, are no picnic. Job loss, illness, divorce and plain bad luck can wreak havoc on your credit, sometimes for years. Regardless of what you may have heard, it is still possible to purchase or refinance a home with less-than-perfect credit. Let us help! Bankruptcy, foreclosure, late payments, collections, judgments -- we can handle it all. We will evaluate your current credit situation and present you with a number of good alternatives. We can even help you challenge inaccurately reported items. 100% financing available with credit scores as low as 600!

Unusual properties  We’ve found financing for geodesic domes, log cabins, windmill homes...you name it. Bring us your problem child and put us to work getting a quick solution!

Conventional financing  Conforming loan limit up to $275,000 (for 1 Unit properties) on 30 year fixed. Looking for a low down payment purchase program? We’ll do a 97% purchase with reduced mortgage insurance and gift funds acceptable for the entire cash to close! Have 5% or 10% down, but want to avoid mortgage insurance? We have excellent pricing on 80/10/10s (This refers to an 80% first mortgage, a 10% second mortgage and 10% down) and 80/15/5s. Looking for the lowest possible starting payment without getting an adjustable rate? Ask us about our 2/1 buydown...a low start rate with fixed rate pricing! Fast 24 hour approvals available on fixed rate loans. Adjustable Rate Mortgages (ARMs) can be a good option for borrowers who don’t intend to keep the subject property for an extended period of time. Intermediate ARMs fixed for 3, 5 or 7 years can make sense as can our monthly adjustables with the minimum payment option.

Jumbo loans  Competitive pricing and liberal loan-to-values! Full doc or low doc -- 75% to $1 million, 80% to $650,000! Also available -- 103%, 100% and 97% purchases. Ask about our Jumbo to Jumbo streamline refinances. We make it so easy to save money!

PERS  A fabulous program for public employees! Competitive rates and reduced fees on both conforming and jumbo purchases and refinances. Free 60 day rate locks with float-down options! PERS has a great 100% financing option, too! Call for today’s rate

VA  Traditional VA loans up to $203,000 (including VA funding fee). 100% financing available plus seller can pay all closing costs. Cal Vet loan amounts to $250,000 with minimum 2% down. Requires 2 years of active duty with an honorable discharge, 6 years Reservist duty or 90 days “called to service.” Higher debt ratios and slightly “bruised” credit considered.

FHA  Trying to qualify for your first house? FHA may be just what you’re looking for. It’s great program offering a minimum of 3% down. Parents and adult children can qualify together with low money down. Or possibly you qualify for the payment, but are short on cash. FHA allows 100% gift funds for down payment and closing costs. Higher debt ratios and slightly “bruised” credit considered. Call us for FHA loan limits in your particular count

No cost/points  Many of our loan programs can be priced in such a way that the borrower needs to bring in little if any cash. This "No points, no fees" approach can be advantageous if you are short on cash to close or if you don't plan to hold on to the property very long. Customizing a loan to fit your needs is our specialty.

No money down  We have lots of options including VA, PERS and conventional. Debt ratios to 55% on selected programs. In fact, we offer up to 107% financing (pay off debt to qualify or finance closing costs) on approved credit.

Easy qualifiers  This program allows self-employed borrowers to state their gross income, and is perfect for other types of borrowers who cannot document their true income. No income documentation is required, although the borrower needs to prove he or she has been in business or in the same line of work for two years. A close cousin is the “no doc” loan which doesn’t require either income or asset documentaiton. Pacific Capital Mortgage can even go up to 95% on a borrower who cannot document income, assets or employment! This might be an excellent temporary solution for the borrower who is relocating to another area before securing employment.