Mortgages

Refinance Loan

Making your mortgage work for you

Refinancing is a practical financing option that can offer you long-term rewards. Whether you want to lower your monthly payment, borrow against the equity in your home to get cash, or both, Stanford FCU is here to help.

Features

Is refinancing the right option for you?

There are many factors to consider — your financial goals, the size of your loan, the value of your home and the interest rates of your existing loan and new mortgage. Some other important questions to ask are: How much will my payment go down? What are the costs associated with refinancing my mortgage? Will I have to pay points? What about settlement costs?

The length of time you plan to stay in your home is another factor to consider when refinancing. If you’re planning to move in a year or two, paying a substantial amount of upfront fees may not be the best idea. The savings in your monthly payment may not be enough to offset your initial investment. As a rule of thumb, most mortgages have $1,500 – $4,000 in associated closing costs.

This simple idea could mean huge savings for you!

Stanford FCU can help you build equity faster, own your home free-and-clear sooner, and save thousands of dollars in interest. Ask your Stanford FCU Mortgage Specialist about our bi-weekly payment program.

Rates

The home loan rate is one of the most important factors in buying a home. Besides the amount of the loan, the factor that most affects the affordability of your home loan is the interest rate you pay on your loan. Your monthly mortgage payment includes: (1) the interest you owe on your outstanding loan balance and (2) a portion of the principal itself, which reduces the remaining loan balance. The lower the interest rate, the lower your monthly payment. Consider that a one-percentage point difference in mortgage rates can translate to a 10% difference in the monthly mortgage payment. Since rates fluctuate daily depending on many economic factors, we encourage you to check rates frequently, to determine how much you can afford.

 

Click here to see our current Mortgage rates.

Education


First-time homebuyer? Download SFCU’s free Home Buyer’s Guide


Home Buying Guide

 

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Home Buying Seminar

Stanford FCU Home Loan Team

Buying a home is one of the most important financial commitments you will ever make. Getting your home loan from someone you can trust is equally important. Stanford FCU has over 100 years of combined real estate lending knowledge and experience. Our in-house home loan experts are among the best in the industry. So, whatever your situation, chances are we’ve helped someone with a very similar situation before.

We are also unique in our ability to serve members’ needs. We’re large enough to provide expertise and a wide variety of loan programs, yet small enough to offer personalized service and cater to the most unique situations.

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Keith Sennett, Residential Loan Officer / NMLS #364952
650.318.8491 / keith@sfcu.org

 

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Howard Yee , Residential Loan Officer / NMLS #1416350
650.842.6088 / howard@sfcu.org

 

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Alex Dondoyano, Residential Loan Officer / NMLS #760322
650.815.5932 / alex@sfcu.org

 

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Steven Finn, Residential Loan Officer / NMLS #760320
650.380.1665 / steven@sfcu.org

 

Lucy Wang, Residential Loan Officer / NMLS #993793
650.304.4002 / lucy@sfcu.org

 

Wing Wong, Residential Loan Officer / NMLS #894062
650.924.8565 / wing@sfcu.org

 

Membership Rewards

As a true not-for-profit financial cooperative, the more our member-owners use the services of their credit union, the stronger we become—and the more low cost services we can provide. That’s the basis of our Membership Rewards program—the more services you use, the more benefits you’ll receive! Whether you are a borrower, saver or both, you will receive extra benefits when you take advantage of the many great products and services at Stanford FCU. Move all of your financial services to Stanford FCU and easily reach the highest level of Membership Rewards. It’s easy to switch and we can help!

You’ll enjoy exclusive benefits like bonus deposit yields and loan rate discounts, unlimited surcharge-FREE ATMs worldwide and more based on your Membership Rewards level—so why stand for anything less? Make the most out of your banking experience with Membership Rewards.

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FREE Access to ATMs Worldwide Surcharge reimbursements for ATMS outside our ATM networks* Yes, 3 per month Yes, unlimited*
FREE access 30,000 CO-OP ATMs and 6,000 CO-OP Shared Branches Yes Yes
Certificate Bonus Rate Yes Yes
Money Management Account Bonus Rates No Yes
Premier Market Savings Account (PMSA) Bonus Rate No Yes
Premier Checking Bonus Rate No Yes
Discount on Auto Loan Rate 0.50% APR Discount 1.00% APR Discount
Stanford FCU Mortgage Fees Waived** No Yes
Fee Refunds:
Below Minimum Balance Fees 50% 100%
Stop Payment Fee 50% 100%
Outgoing Wire Fees 50% 100%
Select Service Charges 50% 100%

Learn more about
Membership Rewards

* Maximum ATM surcharge reimbursement is $5 per ATM transaction. ** Third-party fees still apply.

Disclosures

All members are required to have a $5 membership share balance in any of the following accounts: Checking Account, Savings Account, Money Management Account, Share Certificate or Individual Retirement Account.
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