Jumbo Refinance Mortgage
Jumbo Loans are regarded as high risk by lenders, and as such incur higher interest rates than typical conforming loans. While the difference between an interest rate on a Jumbo Loan refinance and the interest rate on a conforming loan might vary by only .25-.5%, that fraction of a percent of interest could represent thousands of dollars in interest over your loan term.
Understand the Details of Refinancing Your Jumbo Loan
Jumbo refinanced mortgages can ease your financial burden. Typically, refinancing your mortgage can lower your interest rate and monthly payment depending on the market value of the loan. Because of the larger size of the loan and higher interest rates, borrowers with a Jumbo mortgage are sometimes eligible for special discounts or extensions depending on the terms of their refinance. Talk to one of our specialists to determine the best mortgage refinancing options for you.