Conventional
10 to 40 year fixed rate
If you like the idea of stability, a fixed rate mortgage may be just what you are looking for. Budgeting your money can be a lot easier when you know that your mortgage interest rate isn't going to change every year. Plus, Stockton Turner offers plenty of options to customize a fixed rate loan to your needs. Need the biggest tax break available? Stick with a 30 or 40 year term. Kids headed for college in the next decade or so? Maybe a 15 year term would suit you better.

The loan most commonly applied for throughout the country is a fixed rate 30 year mortgage. That might be the right choice for you, but have you considered a 15 year loan? What do you have to gain by choosing a shorter term?
  • A 15 Year mortgage carries a lower interest rate right from the start, compared to a 30 year loan - as much as 1/2% or more.

  • A 15 Year loan will typically cost you tens of thousands of dollars less in interest over the term of your loan than will a 30 year loan.

  • A 15 Year loan will pay your house off in half the time - perhaps just in time to pay for college tuition for your children, or elder care for your parents.

  • A 15 Year loan will help you build up equity in your home much faster - enabling you to receive more in cash, should you have to sell before the loan is paid in full.

  • A 15 Year loan, while more expensive each month, is NOT twice as expensive as a 30 year loan -- it is more affordable than you may think!

  • A 15 Year loan enables you to dedicate more disposable monthly income to paying off your mortgage debt than is typically possible with other investment vehicles. Against most competitive investments, your house compares quite favorably.
Whatever your situation, Stockton Turner can work with you to make sure you get the perfect loan for your lifestyle.

One Year Libor ARM
A one-year LIBOR ARM is ideal for the homeowner eager to take advantage of a low initial interest rate. The ARM also has rate caps protecting each rate change and the maximum interest rate over the life of the loan.

FHA/VA Fixed Rate
FHA (Federal Housing Administration)-insured mortgages are in high demand today because of the many advantages they hold for home buyers and refinancers, among them assumability, low down payments and liberal qualifying ratios. Also, FHA borrowers do not have to meet the maximum income qualifications common with many other government programs. (Maximum loan amounts, however, are set by region across the country.)

A VA loan - or more appropriately termed, "VA Insured Loan” - is a loan for which the Veteran's Administration insures the lender against losses the lender may incur due to your default.  VA loans are available only to honorably discharged veterans or their un-remarried widows or widowers possessing a Certificate of Eligibility.  Such loans require a minimal or no down payment and offer lower interest rates.

Jumbo Fixed Rate
Stockton Turner offers our jumbo loan programs for the homeowner who wants the security of a fixed rate loan, but whose loan amount exceeds the "conforming" loan limit. Highly competitive rates make our "jumbo" programs attractive and practical.

The conforming loan limit is the maximum loan amount limit set by FNMA and FHLMC. The current conforming loan limits are:

1 unit property

$417,000.00

*2 unit property

$533,850.00

*3 unit property

$645,300.00

*4 unit property

$801,950.00
* Unit availability dependent on product guidelines.


Reverse Mortgages
A Reverse Mortgage (backward mortgage) is simply a mortgage loan that affords seniors, 62 or older, the benefit of using the equity accumulated in their home to provide monthly income, or to receive a one lump sum payment or line of credit. The money is tax free - after all, it's already your money (equity).

The older the borrower, the greater percentage of their home's equity is available. Today the primary use of proceeds from Reverse Mortgages by senior citizens is medical or health related. Next, senior citizens are using Reverse Mortgages to pay off their existing mortgage or other debt, or fixing up their homes. We make it as easy as possible for you to obtain a Reverse Mortgage that's right for you.

Commercial Loans
A mortgage used to buy a commercial piece of property or commercial building. A mortgage loan is generally secured by real estate used by a business or to generate income. This is also called an income property loan.