Although it is widely accepted that accurate modeling of wave energy converters is essential for effective and reliable design, it is often challenging to define an accurate model which is also fast enough to investigate the design space or to perform extensive sensitivity analysis. In fact, the required accuracy is usually brought by the inclusion of nonlinearities, which are often time-consuming to compute. This paper provides a computationally efficient meshless nonlinear Froude–Krylov model, including nonlinear kinematics and an integral formulation of drag forces in six degrees of freedom, which computes almost in real-time. Moreover, a mooring system model with three lines is included, with each line comprising of an anchor, a jumper, and a clump weight. The mathematical model is used to investigate the highly-nonlinear phenomenon of parametric resonance, which has particularly detrimental effects on the energy conversion performance of the spar-buoy oscillating water column (OWC) device. Furthermore, the sensitivity on changes to jumper and clump-weight masses are discussed. It is found that mean drift and peak loads increase with decreasing line pre-tension, eventually leading to a reduction of the operational region. On the other hand, the line pre-tension does not affect power production efficiency, nor is it able to avoid or significantly limit the severity of parametric instability.