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.
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.
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.
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.
Home Buying Guide
Home Buying Seminar
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.
Keith Sennett, Residential Loan Officer / NMLS #364952650.318.8491 / keith@sfcu.org
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Howard Yee , Residential Loan Officer / NMLS #1416350650.842.6088 / howard@sfcu.org
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Alex Dondoyano, Residential Loan Officer / NMLS #760322650.815.5932 / alex@sfcu.org
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Steven Finn, Residential Loan Officer / NMLS #760320650.380.1665 / steven@sfcu.org
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Lucy Wang, Residential Loan Officer / NMLS #993793650.304.4002 / lucy@sfcu.org
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Wing Wong, Residential Loan Officer / NMLS #894062650.924.8565 / wing@sfcu.org
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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.