Jumbo loan with
unlimited cash-out refinances, interest-only payments, and
other programs help you proactively manage your costs and
liabilities. Refinance Jumbo loan which will reduce your
monthly payment or take cash out of your home equity for any
reason. Current interest rates as low as they have been for the
past few years now steadily coming up, there has never been a
better time to refinance.
Fixed Rate Jumbo
The most common refinance jumbo
loan type of mortgage program where your monthly
payments for interest and principal never change.
Low Documentation -
Income is stated on the application but not verified. With a
refinance jumbo loan the assets are verified which is usually 3
to 6 months, depending on the program.
Adjustable Rate Jumbo
With adjustable refinance jumbo loan begin with
an interest rate that is lower than a comparable fixed rate
mortgage, with the rate changes at specified intervals. The
intervals for refinance jumbo loan are anywhere from 1 month to
as long as 10 years.
Down Payment Options for
refinance jumbo loan
Choosing a lower down payment lets you leverage
your money better.
refinance jumbo loan credit
Problems with Solutions
For people with discharged bankruptcies and or
mortgage lates, we maybe able to help do a refinance jumbo
Million Dollar Refinance
Some refinance jumbo loan programs offer
limited cash out and others unlimited cash out on
loans over $650,000 to
Limited Income and Job information are not
disclosed on the application. Assets are verified. Refinance
jumbo loan best for those in between jobs or recently changed
from employed to self-employed or vice-versa.
If you have a great rate on your 1st
loan, apply for flat fee
second mortgage or equity line of credit
What is Jumbo Loan Refinancing?
You must realize that in today's economy,
with many properties already exceeding the conforming limits,
homeowners are turning to jumbo loan refinancing to boost buying power or
retire mortgages that no longer suit their goals. With all the
relatively high risk of defaults associated with
jumbo loan refinancing which means that
lenders will probably charge higher interest rates, making
refinance jumbo loan sometimes
We must take the confusing
mumbo-jumbo out of
the jumbo loan refinancing package. With
a jumbo loan, by definition, is a mortgage
with a total amount that exceeds conforming loan limits set by lenders. When looking at
conforming loan limits, which are
traditionally established by agencies like Fannie Mae and
Freddie Mac that buy mortgages on the secondary
But not always: that's why it pays
to shop around.
Jumbo Loan Refinancing in Summary
Because of the susceptibility of "luxury"
property to market fluctuations, some home lenders may require
large down-payments. It's not uncommon to find a down-payment
connected with a jumbo loan to rise as high as 5 percent on
a refinancing loan up to $350,000 and 10 percent
on a home loan up to
$650,000. On the plus side, some lenders offer mortgages with
longer amortization life in a jumbo refinancing package, allowing
borrowers to enter 40- or 50-year terms.
When you look at size of the
loan, you may find the
adjustable rate preferable from the outset, if you can find a
jumbo lender. A jumbo loan that refinances your home can
be either a fixed rate loan or adjustable
Closing costs for jumbo loan refinancing packages also can be
comparatively high. Speak with a variety of lenders to find
whether a jumbo loan is for you, or if you'd benefit
from a more conventional second
mortgage in combination with other
options including debt consolidation.
The 2008 limits set for
conforming loan amounts set by Fannie Mae and Freddie
Mac are $417,000 for a single-family home, $533,850 for
double-family homes, $645,300 for three-family homes, and
$801,950 for four-family homes. Special Conforming limits are
at higher levels for homes in high-priced housing states
and territories, including Alaska, Hawaii, the Virgin Islands,