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13 13 reviews
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Mortgage Loan Officer

Michelle Madsen

Mortgage Loan Officer

NMLS# 448213

209-307-9161

Connect with Michelle

  • michelle.madsen@usbank.com
  • 209-307-9161
  • 209-327-3901

  • Connect when it's convenient for you. Request a call.

Ready to apply? Start your application.

Apply

About me

No matter where you are in the home buying process, I can help.

  • As a mortgage loan officer right here in Stockton, I work with you to help find the right mortgage for your unique situation.
  • You probably have lots of questions. How much house can I really afford? Which type of mortgage best fits my needs? I have the resources to answer questions like that and I've worked with lots of people in and around Stockton with home financing needs similar to yours.

I'm proud to work for a reputable bank like U.S. Bank, and you can trust me to do what's right for you. So give me a call at 209-307-9161.

Certifications

  • Certified Construction Mortgage Loan Officer

Service areas include

  • Lodi
  • Stockton
  • Galt
  • Modesto
  • Tracy
  • Murphys

Primary location

2800 W March Ln
STE 410
Stockton, CA 95219

Connect with Michelle

  • Email michelle.madsen@usbank.com

  • 209-307-9161

  • 209-327-3901

  • Request a Call

    Connect when it's convenient for you. Request a call.

Ready to apply? Start your application.

Apply

Explore more

Mortgage rates

Compare rates for a variety of mortgage types.

See mortgage rates

Refinance rates

Compare rates for a variety of home refinancing options.

See refinance rates

Mortgage calculator

Estimate your total monthly mortgage payment.

Run the numbers

Reviews

See what customers are saying about me.

Read my reviews

Mortgage FAQ

Get answers to common home-buying questions.

Commonly asked questions

Resources for builders and realtors

You need a lender that cares about your clients as much as you do.

Builder resource center Real estate agent resource center

Today's mortgage rates in California.

The mortgage rates shown below assume a few basic things, including:

  • You have very good credit (a FICO® Score of 740+) and a specific down payment amount for your loan type.1
  • Your loan is for a single-family home as your primary residence.
  • You will purchase up to one mortgage discount point in exchange for a lower interest rate. Connect with your mortgage loan officer to learn more about mortgage points.

Rates are current as of 05/28/2025.

See rates for other states.

Compare current mortgage rates.

Conventional fixed-rate mortgages
30-year fixed 6.75% 6.9% $3,010 0.653
20-year fixed 6.375% 6.608% $3,425 0.959
15-year fixed 5.99% 6.236% $3,913 0.695
10-year fixed 5.75% 6.107% $5,093 0.741

Conforming adjustable-rate mortgages
10/6 mo 7.375% 7.543% $3,205 1.543
7/6 mo 6.375% 6.892% $2,895 0.765

Jumbo adjustable-rate mortgages
10/1 yr 6.25% 6.638% $5,788 0.980
7/1 yr 6.125% 6.666% $5,712 1.000
5/1 yr 6.25% 6.786% $5,788 0.800

FHA mortgages
30-year fixed - FHA 6.375% 7.221% $1,806 0.406

VA mortgages
30-year fixed - VA 6.25% 6.624% $1,660 0.868

Jumbo mortgages
30-year fixed - jumbo 6.875% 7.038% $6,175 0.770
20-year fixed - jumbo 7.0% 7.24% $7,288 0.970
15-year fixed - jumbo 6.75% 7.01% $8,318 0.750

Michelle Madsen

Mortgage Loan Officer

NMLS# 448213

209-307-9161

  • michelle.madsen@usbank.com

  • 209-307-9161

  • 209-327-3901

  • Connect when it's convenient for you. Request a call.

Ready to apply? Start your application.

Apply

Today's refinance rates in California.

The mortgage rates shown below assume a few basic things, including:

  • You have very good credit (a FICO® Score of 740+) and a specific amount of equity for your loan type.1
  • Your loan is for a single-family home as your primary residence.
  • You will purchase up to one mortgage discount point in exchange for a lower interest rate. Connect with your mortgage loan officer to learn more about mortgage points.

Rates are current as of 05/28/2025.

See rates for other states.

Compare current refinance rates.

Conventional fixed-rate refinance loans
30-year fixed 6.875% 7.025% $3,048 0.643
20-year fixed 6.5% 6.739% $3,459 0.998
15-year fixed 5.99% 6.256% $3,913 0.820
10-year fixed 5.75% 6.135% $5,093 0.866

Conforming adjustable-rate refinance loans
10/6 mo 7.375% 7.596% $3,205 2.043
7/6 mo 6.625% 7.043% $2,971 0.967

Jumbo adjustable-rate refinance loans
10/1 Jumbo 6.375% 6.697% $5,864 0.730
7/1 Jumbo 6.25% 6.706% $5,788 0.750
5/1 Jumbo 6.25% 6.798% $5,788 0.925

FHA refinance loans
30-year fixed - FHA 6.375% 7.234% $1,806 0.531

VA refinance loans
30-year fixed - VA 6.25% 6.637% $1,660 0.993

Jumbo refinance loans
30-year fixed - jumbo 6.875% 7.05% $6,175 0.895
20-year fixed - jumbo 7.125% 7.333% $7,359 0.720
15-year fixed - jumbo 6.75% 7.031% $8,318 0.875

Michelle Madsen

Mortgage Loan Officer

NMLS# 448213

209-307-9161

  • michelle.madsen@usbank.com

  • 209-307-9161

  • 209-327-3901

  • Connect when it's convenient for you. Request a call.

Ready to apply? Start your application.

Apply

Mortgage calculator

Use our mortgage calculator to help you better understand your home financing options.

Michelle Madsen

Mortgage Loan Officer

NMLS# 448213

209-307-9161

  • michelle.madsen@usbank.com

  • 209-307-9161

  • 209-327-3901

  • Connect when it's convenient for you. Request a call.

Ready to apply? Start your application.

Apply

Reviews

Zillow
Zillow
5.0/5
Mar 6, 2025
Zillow • Vishav
My lender Michelle was amazing to work with. She guided my wife and I throughout the whole mortgage process knowing we were first time homebuyers. She is very upfront and will explain the little details to you. She is very knowledgeable and knows exactly what she is doing! I will highly recommend Michelle to all my friends and family.
Zillow
5.0/5
Sep 27, 2024
Zillow • Ryan
It turns out that buying a house can be a complicated and stressful experience. Thankfully I was working with Michelle. Her knowledge made the process smooth. Her professionalism made the process free of stress. And her dedication to excellent and timely communication made the process step-wise and logical. It would be difficult to praise her enough. I will honestly say that I wouldn't have purchased this house without Michelle's energy and knowledge of the systems involved.
Zillow
5.0/5
Sep 24, 2024
Zillow • Craig
Michelle was so instrumental in the successful completion of our transaction. We needed an extremely quick closing and she worked late and without prompting. She guided us through the process and made it happen. We are extremely pleased and recommend her to everyone.
Zillow
5.0/5
Jun 17, 2024
Zillow • Melissa
As a mortgage newbie, I was apprehensive because I did not know what to expect, but Michelle patiently walked me through the process. She took it step by step, was direct and she has the expertise to resolve problems that pop up quickly and efficiently. I will be moving soon for a new job and won't use anyone but Michelle for my next home loan. Buying a house or re-financing is a big deal, call her, you will not regret it. *my loan was with US Bank*
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Michelle Madsen

Mortgage Loan Officer

NMLS# 448213

209-307-9161

  • michelle.madsen@usbank.com

  • 209-307-9161

  • 209-327-3901

  • Connect when it's convenient for you. Request a call.

Ready to apply? Start your application.

Apply

Mortgage FAQ

Get answers to your questions regarding home financing, refinancing and more.

Construction loans

Construction loans are short-term, interim loans used for new home construction, including land, contractor labor, building materials, permits and more. With these loans, the contractor receives disbursements as work progresses. There are several construction loans designed to fit nearly every new home construction need. Some options include construction-only loans and construction-to- permanent loans, where the loan is used for the construction of the home and then converts into a permanent mortgage loan.

Construction loans are short-term loans that cover the cost of building a new home. These loans are usually shorter in duration and proceeds are paid directly to the contractor in installments, or “draws,” as building milestones are achieved. An inspection is typically required before each payment is released to the contractor. To learn more about how construction loans work, connect with your mortgage loan officer.

If you’re considering a construction loan, there are a variety of qualifying factors, including but not limited to, credit score, debt-to-income ratio and credit history. Contact your mortgage loan officer to see if you qualify for a construction loan.

Lot loans

If you’re considering a lot loan, there are a variety of qualifying factors, including but not limited to, credit score, down payment amount and debt-to-income ratio. Contact your mortgage loan officer to learn more about how to get a lot loan.

A lot loan is a mortgage that pays for a residential lot on which a single-family detached home will be built in the near future. It’s different from a construction loan in that it only pays for the lot the home will be built on. The construction loan pays for the construction of the home itself. Condo properties and properties with existing structures on the site are not eligible.

Lot loans are available to qualified buyers who are interested in buying a lot to build a home on. With lot loans, the initial interest rate is fixed for a set period and then becomes variable, adjusting every year for the remaining life of the loan. For example, a 5/1 ARM lot loan has a fixed rate for the first five years and an adjustable rate for the remaining duration of the loan. To learn more about how lot loans work, connect with your mortgage loan officer.

Jumbo loans

A jumbo loan is for single-family homes with loan amounts greater than $806,500. In certain high cost areas, such as Alaska and Hawaii, the loan amount must be greater than $1,209,750. To qualify for a jumbo mortgage loan, you must meet the established guidelines for credit score, income and other personal financial information.

Jumbo loans are mortgages that exceed conforming loan limits. The limit on conforming loans is $806,500 in most areas of the country, but jumbo mortgages can exceed these limits. The limit can be as high as $1,209,750 in certain high cost areas, including Alaska and Hawaii.

A VA jumbo loan is a Veterans Affairs (VA) loan that exceeds the conforming loan limit of $806,500 and up to $1,209,750 in high-cost areas such as Alaska and Hawaii. If you’re an active-duty service member, veteran or eligible surviving spouse, and you meet the income and credit requirements, a VA jumbo loan could be an option for you.

Single-family home buyers

A single-family home may be fully detached or a semi-detached, side-by-side structure such as a duplex, row house or townhome. They are typically site-built (vs. being factory built) and must have certain characteristics. For example, they must have a ground-to-roof wall, their own heating system and utilities and no units located above or below.

Yes. A townhouse is considered a single-family home. Townhomes are individually owned and come in a wide range of sizes and configurations, usually sharing one or two walls with adjacent properties. Residents are responsible for both the interior and exterior of the property, since they own the portion of the land on which the townhome sits. Townhomes function much like condos in that they’re generally part of a homeowner’s association and may come with homeowners’ association (HOA) fees.

VA loans

A Veterans Affairs (VA) loan is a home mortgage that’s backed by the Department of Veterans Affairs. To be eligible for a VA loan, you must be an active-duty service member, veteran or eligible surviving spouse. A VA home loan requires little or no money down at closing, and even with no down payment, mortgage insurance is not required.

Veterans Affairs (VA) loans are available to active-duty service members, veterans and eligible surviving spouses. A Certificate of Eligibility from the VA is required to show whether you qualify based on your service history and duty status. Your mortgage loan officer will work with you to obtain the Certificate of Eligibility and can help you better understand how VA loans work.

Veterans Affairs (VA) loans are available to active-duty service members and veterans who have served at least 90 days of consecutive service during wartime or 181 days during peacetime. National Guard members and reservists are eligible for a VA loan after six years of service or 181 days of active-duty service. Eligible surviving spouses may also qualify. For more information on how to apply for a VA home loan, contact your mortgage loan officer.

There are several ways active-duty service members, veterans and eligible surviving spouses can take advantage of a Veterans Affairs (VA) loan more than once. Here are some ways you may be eligible for another VA loan:

  • Purchase a home with a VA loan and then sell it to buy another home with a new VA loan.
  • Refinance an existing VA loan into another.
  • Have two VA loans for two different homes at the same time.

For more information on VA loans, speak with your mortgage loan officer.

Michelle Madsen

Mortgage Loan Officer

NMLS# 448213

209-307-9161

  • michelle.madsen@usbank.com

  • 209-307-9161

  • 209-327-3901

  • Connect when it's convenient for you. Request a call.

Ready to apply? Start your application.

Apply

Loan approval is subject to credit approval and program guidelines. Not all loan programs are available in all states for all loan amounts. Interest rate and program terms are subject to change without notice. Mortgage, home equity and credit products are offered through U.S. Bank National Association. Deposit products are offered through U.S. Bank National Association. Member FDIC. Equal-Housing-Lender" Equal Housing Lender

Calculators are provided by Leadfusion. This calculator is being provided for educational purposes only. The results are estimates that are based on information you provided and may not reflect U.S. Bank product terms. The information cannot be used by U.S. Bank to determine a customer's eligibility for a specific product or service. All financial calculators are provided by the third-party Leadfusion and are not associated, controlled by or under the control of U.S. Bank, its affiliates or subsidiaries. U.S. Bank is not responsible for the content, results, or the accuracy of information.

1. The rates above assume you have a down payment, or equity, of at least 25% for a conventional fixed-rate loan, an adjustable-rate mortgage (ARM) loan or a jumbo loan, at least 3.5% for an FHA loan and 0% for a VA loan.

Conforming fixed-rate estimated monthly payment and APR example: A $464,000 loan amount with a 30-year term at an interest rate of 6.500% with a down-payment, or borrower equity of 25% and no discount points purchased would result in an estimated monthly principal and interest payment of $2,933 over the full term of the loan with an annual percentage rate (APR) of 6.667%.

Estimated monthly payment and APR calculation are based on a down-payment, or borrower equity of 25% and borrower-paid finance charges of 0.862% of the base loan amount. If the down payment, or borrower equity is less than 20%, mortgage insurance may be required, which could increase the monthly payment and the APR. Estimated monthly payment does not include amounts for taxes and insurance premiums and the actual payment obligation will be greater.

ARM estimated monthly payment and APR example: A $464,000 loan amount with a 30-year term at an interest rate of 6.875% with a down payment, or borrower equity of 25% and no discount points purchased would result in an initial estimated monthly principal and interest payment of $3,048 with an annual percentage rate (APR) of 7.488%.

Estimated monthly payment and APR calculation are based a fixed-rate period of five years that could change in interest rate every six months for the next 25 years of the loan term, a down-payment, or borrower equity of 25% and borrower-paid finance charges of 0.862% of the base loan amount, plus origination fees if applicable. After the five-year introductory period: the APR is variable and is based upon an index plus a margin. The APR will vary with a predetermined index known as the Secured Overnight Financing Rate (SOFR). If the down payment, or borrower equity is less than 20%, mortgage insurance may be required, which could increase the monthly payment and the APR. Estimated monthly payment does not include amounts for taxes and insurance premiums. Adjustable-rate loans and rates are subject to change during the loan term. That change can increase or decrease your monthly payment.

FHA estimated monthly payment and APR example: A $265,375 base loan amount with a 30-year term at an interest rate of 6.250% with a down payment, or borrower equity of 3.5% and no discount points purchased would result in an estimated monthly principal and interest payment of $1,663 over the full term of the loan with an annual percentage rate (APR) of 7.478%.

Estimated monthly payment and APR calculation are based on a down payment, or borrower equity of 3.5% and borrower-paid finance charges of 0.862% of the base loan amount. Estimated monthly payment and APR assumes that the upfront mortgage insurance premium of $4,644 is financed into the loan amount. The estimated monthly payment shown here does not include the FHA-required monthly mortgage insurance premium, taxes and insurance premiums, and the actual payment obligation will be greater.

VA estimated monthly payment and APR example: A $264,000 base loan amount with a 30-year term at an interest rate of 6.250% with no down payment, or borrower equity and no discount points purchased would result in an estimated monthly principle and interest payment of $1,663 over the full term of the loan with an annual percentage rate (APR) of 6.663%.

Estimated monthly payment and APR calculation are based on a down payment, or borrower equity of 0% and borrower-paid finance charges of 0.862% of the base loan amount, plus origination fees if applicable. Estimated monthly payment and APR assumes that the VA funding fee of $6,072 is financed into the loan amount. Estimated monthly payment does not include amounts for taxes and insurance premiums, and the actual payment obligation will be greater.

Jumbo estimated monthly payment and APR example: A $940,000 loan amount with a 30-year term at an interest rate of 5.625% with a down payment, or borrower equity of 25% and no discount points purchased would result in an estimated monthly principle and interest payment of $5,411 over the full term of the loan with an annual percentage rate (APR) of 5.784%.

Estimated monthly payment and APR calculation are based on a down payment, or borrower equity of 25% and borrower-paid finance charges of 0.862% of the base loan amount. If the down payment, or borrower equity is less than 20%, mortgage insurance may be required, which could increase the monthly payment and the APR. Estimated monthly payment does not include amounts for taxes and insurance premiums and the actual payment obligation will be greater.

The rates shown above are the current rates for a single-family primary residence based on a 45-day lock period. These rates are not guaranteed and are subject to change. This is not a credit decision or a commitment to lend. Your final rate will depend on various factors including loan product, loan size, credit profile, property value, geographic location, occupancy and other factors.

To lock a rate, you must submit an application to U.S. Bank and receive confirmation from a mortgage loan officer that your rate is locked. Application can be made by starting it online or by meeting with a mortgage loan officer.

Minnesota properties: To guarantee a rate, you must receive written confirmation as required by Minnesota Statute 47.206. This statement of current loan terms and conditions is not an offer to enter into an interest rate or discount point agreement. Any such offer may be made only pursuant to subdivisions 3 and 4 of Minnesota Statutes Section 47.206.

Conforming fixed-rate loans:  The annual percentage rate (APR) calculation assumes a $464,000 fixed-term loan with a down payment, or borrower equity of 25% and borrower-paid finance charges of 0.862% of the loan amount, plus origination fees if applicable. If the down payment, or borrower equity is less than 20%, mortgage insurance may be required, which could increase the monthly payment and the APR. Conforming rates are for loan amounts not exceeding $806,500 ($1,209,750 in AK and HI).

Conforming ARM loans: Adjustable-rate loans and rates are subject to change during the loan term. That change can increase or decrease your monthly payment. The annual percentage rate (APR) calculation assumes a $464,000 loan with a 25% down payment, or borrower equity, and borrower-paid finance charges of 0.862% of the loan amount, plus origination fees if applicable. If the down payment or borrower equity, is less than 20%, mortgage insurance may be required, which could increase the monthly payment and the APR. Conforming rates are for loan amounts not exceeding $806,500 ($1,209,750 in AK and HI).

Non-conforming ARM loans: Adjustable-rate loans and rates are subject to change during the loan term. That change can increase or decrease your monthly payment. The annual percentage rate (APR) calculation assumes a $940,000 loan with a down payment, or borrower equity, of 25% and borrower-paid finance charges of 0.862% of the loan amount, plus origination fees if applicable. If the down payment, or borrower equity is less than 20%, mortgage insurance may be required, which could increase the monthly payment and the APR. Non-conforming rates are for loan amounts exceeding $806,500 ($1,209,750 in AK and HI).

Jumbo loans: The annual percentage rate (APR) calculation assumes a $940,000 fixed-term loan with a 25% down payment or borrower equity and borrower-paid finance charges of 0.862% of the loan amount, plus origination fees if applicable. If the down payment, or borrower equity, is less than 20%, mortgage insurance may be required, which could increase the monthly payment and the APR. Jumbo rates are for loan amounts exceeding $806,500 ($1,209,750 in Alaska and Hawaii).

FHA loans: The annual percentage rate (APR) calculation assumes a $270,019 fixed-term loan ($265,375 base amount plus $4,644 upfront mortgage insurance premium) with a 3.5% down payment, or borrower equity, monthly mortgage insurance premium of $176.30, and borrower-paid finance charges of 0.862% of the base loan amount, plus origination fees if applicable.

VA loans: The annual percentage rate (APR) calculation assumes a $270,072 fixed-term loan ($264,000 base amount plus $6,072 VA funding fee) with no down payment, or borrower equity and borrower-paid finance charges of 0.862% of the base loan amount, plus origination fees if applicable.

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Minneapolis, MN 55402

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