What Is a Jumbo Refinance Loan?
If you're looking to refinance your higher-priced home, Mortgage Center can help. With our Golden Jumbo Loan, we make it easy to refinance homes that exceed conventional loan limits.
Jumbo loans exceed the conforming number set by the Federal Housing Finance Agency (FHFA). If your home's value has increased or your existing loan balance is above the conforming loan limit, you might want to look into this option. Other reasons to refinance your jumbo loan include lowering monthly payments, switching to a fixed-rate loan, or completing a cash-out refinance.
What Are the Benefits of a Jumbo Refinance?
Jumbo refinances offer several benefits for homeowners, including:
- Financing for homes that exceed standard limits: Jumbo refinances allow you to refinance any house that exceeds the standard limits of Fannie Mae and Freddie Mac loans.
- Getting lower interest rates and fees: Refinancing to a jumbo loan from Mortgage Center will let you benefit from lower interest rates and fees than most other lenders.
- Avoiding mortgage insurance: You can often avoid paying for mortgage insurance on your jumbo refinance.
- Reducing interest rates: Refinancing your jumbo loan can get you a lower interest rate and smaller monthly payments.
A jumbo loan offer several benefits to borrowers, and our team is ready to help you find the right one.
Who Qualifies for a Jumbo Loan?
Qualifying for a jumbo refinance involves stipulations similar to those of a purchase loan. Jumbo refinance requirements include:
- Credit score The credit score you need to qualify for a jumbo loan varies based on many factors. Contact us today to find out if you qualify!
- Reserves: You need to have enough in your savings to continue paying on your loan even if you hit financial hardship. Six months to one year of funds is usually the requirement.
Mortgage Center can help you start the process and find the right terms for you if you are eligible for a jumbo refinance.
Why Choose Mortgage Center?
If you need to refinance your jumbo loan, our team is prepared to offer assistance. Mortgage Center provides exclusive loan products and high-quality services at competitive rates, and we service the mortgage throughout the life of the loan. We've been serving the community since 1990, and we have over 100 mortgage experts on staff.
Other benefits of choosing Mortgage Center include:
- Community investment: Mortgage Center cares about our community, so we give our staff time to volunteer and give back to local causes.
- Effective service: Our top-of-the-line service helps us provide positive experiences for our borrowers and partners.
- Honest communication: We encourage speaking kindly and directly in all interactions with our borrowers, and we emphasize those values in everything we do.
Apply for a Jumbo Refinance Loan Today
If you're exploring jumbo refinance rates and providers, let Mortgage Center help you find what you need. Our experts will help determine your eligibility and guide you through the application process. You can apply for a jumbo refinance online or contact us today to learn more about our services.