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WHY SHOULD I REFINANCE?
Refinancing your mortgage
can mean a new interest rate,
a new monthly payment, or a
new repayment period.
Turn the house you have into the home you want
You can roll in the costs of home repairs or upgrades.
Pay down debt
Use the equity you've earned in your home to pay off debt.
Put more money in your pocket
Lower your monthly mortgage payment and spend more on building memories with those closest to you.
For refinance transactions, be aware that by refinancing your existing loan, your total finance charges may be higher over the life of the loan.
Tell us your goals. We can help
figure out your next move.
REFINANCE PROGRAMS
Our loan selection is anything
but conventional - but we do
those too.
Bank Statement
Being your own boss shouldn't mean a backbreaking path to homeownership. Self-employed borrowers can relax with Stockton Mortgage's bank statement program, with alternative documentation options of 12 or 24 months of bank statements.
Conventional Loan
Our conventional loans can be a fixed rate or adjustable rate mortgage. With a variety of down payment options, the minimum down payment requirement is 3%. There are also options that avoid mortgage insurance.
Doctor Loan
This loan program helps medical professionals qualify for a home loan, even with student loans and limited savings. Eligible borrowers include currently practicing medical professionals or those who's employment will start within 90 days of closing.
ITIN Loan
Stockton Mortgage offers solutions for people who have an Individual Tax Identification Number (ITIN) who are looking for a mortgage or wish to finance their existing mortgage. With our ITIN Loan Program, we may be able to utilize written verification of employment and bank statement payroll deposits in lieu of paystubs.
Reverse Mortgage
Your home, despite being a substantial expense, could also serve as a significant wealth source during your retirement years. Accessing this wealth through a Reverse Mortgage can open up additional cash flow, which could be employed in various ways. These might include clearing or reducing credit card balances and other debts, making necessary updates, repairs, or modifications to your home. Additionally, it could help you maintain a healthy cash reserve for managing bills and other routine expenses, making your retirement more comfortable and worry-free.
VA Loan
This Veterans Administration loan is available to honorably discharged veterans, active duty, or those who have completed a total of six years of service in the National Guard or selected reserves. Certain surviving spouses of veterans are also eligible.
FHA Loan
The Federal Housing Administration (FHA) loan is a great option for borrowers without a large amount in savings.
Hobby Farm Home Loan
The Hobby Farm loan is for homes with 5 - 160 acres. Rural areas, non-contiguous parcels permitted. Not eligible for full time Farming operations. This program is good for customers looking for a place to have horses, hunting property, etc.
Home Equity Line of Credit (HELOC)
This alternative to a cash-out refinance allows a borrower to use the equity in their home without refinancing their mortgage.
Investor Cash Flow Loan
With Stockton Mortgage's Investor Cash Flow Loan, it's never been easier to break into real estate investing. This program allows you to utilize the future income rental of a property to determine cash flow - meaning that if portfolio growth is the goal, the Cash Flow Loan could make it happen.
Jumbo Loan
A great option for large loan amounts; too large for a conventional loan. Loan amounts up to $3 Million for owner occupied or $2 Million for second home. This program varies by state, please ask for more information.
Low Down Payment, New Construction Loans
We offer new construction loans for VA, FHA and USDA Loans. These programs are good for customers that can't find an existing home to purchase.
Renovation Loan
We offer a variety of renovation options, rolling the cost of the home repairs into the mortgage. The FHA 203k provides a low-down payment options with structural changes, as well as, minor updates such as painting. The Homestyle provides an option for adding luxury upgrades such as in-ground pools and outdoor kitchens.
RHS/USDA Loan
The Rural Housing Services (RHS) / US Department of Agriculture (USDA) loan is available in certain rural areas and for families who meet the income restrictions. There is no down payment required and offers flexible credit guidelines.
Rural Hobby Farm Home Loan
The Hobby Farm Loan accommodates homes on 5 - 160 acres, the property can be income producing. The home must be the primary residence and approximately 30% of the value must be from the home.
REFINANCING
How It Works
Refinancing a mortgage requires to you submit necessary financial documents like you did the first round with your old mortgage. Browse through the different mortgage plans and compare the interest rates and terms to select the most ideal plan for your needs. Compare the new loan with your existing one and analyze how its terms can benefit you. If your current credit score has improve since the first loan, the chances of you obtaining more favorable terms are high. Take note of the closing costs and decide if you are able to commit to the new mortgage terms before you refinance.