Mortgage Rate Modification

A simple way to lower your rate—without a full refinance

When rates fall, you can request a rate modification to adjust your Stanford FCU mortgage to a lower rate for a modest fee!*

A quick eligibility review should be all we need, but in some cases a full application, appraisal, and/or hard credit check may be required
Small upfront processing fee of 0.5% of your outstanding mortgage balance (minimum $500 and maximum $2,000)*

Stanford FCU fixed and adjustable rate mortgages (ARMs), both conforming and jumbo with terms of 40 years or less (ARMs must still be within the initial fixed-rate period)
Loan program and term will remain the same—all we’re changing is the rate for the remainder of the same loan (no cash-out)
Other restrictions may apply—including but not limited to credit, payment history, and loan ownership requirements—submit your request to get started!

The refinance interest rates presented below are provided for illustrative purposes only and are not guaranteed. Actual loan modification terms, including the applicable interest rate, are subject to a comprehensive evaluation of your financial circumstances and final approval by the Loan Administration Department. All terms are determined in accordance with applicable investor guidelines and program requirements.
Rates shown are based on example assumptions (including credit profile, occupancy, and property type) and may not reflect your actual rate.
The APR reflects the total cost of credit, including interest and certain fees.
Rates and fees may change at any time based on market conditions and borrower qualifications and are not guaranteed unless locked.
Monthly payments shown do not include taxes or insurance, and your total payment will be higher.

For the loan modification, all original loan terms remain unchanged except for the modified interest rate and extension of initial fixed period based on the new modification date.
Points, if applicable, are expressed as a percentage of the loan amount (e.g., 0.750% equals $3,750 per $500,000 borrowed).
For Adjustable-Rate Mortgages (ARMs) that are eligible for Modification, the modified rate may apply a new fixed period and does not change your loan maturity date. See your approved program terms for more details.
Should rates decrease within 30 days of processing your modification request, you may lock in the lower rate for an additional $500 fee.

*Mortgage rate modification fee: Processing fee applies: 0.5% of the outstanding balance (minimum $500, maximum $2,000).
**Key eligibility requirements include: Mortgage rate modification is available for mortgages owned by Stanford FCU only. The excluded loan types are HELOCs, interest-only loans, loans with balloon payments and ARMs that have passed their initial fixed-rate period. Loans that are in forbearance or deferment and any loan with a late payment within the last 12 months are also excluded. Additional requirements may apply. Program terms, conditions, and availability are subject to change without notice.
All loan modifications are subject to approval, and not all borrowers will qualify.
Savings and payment reductions are not guaranteed and will vary based on individual loan characteristics.
Modifications may be reported to credit bureaus and could impact your credit profile.