Refinance Jumbo Loans
By reevaluating and restructuring your current mortgage, this loan option helps you take advantage of today’s competitive interest rates and restructure the terms of your loan.
|Loan Type||Interest Rate||Points||APR|
|5/1 LIBOR ARM||2.950 %||0.000 %||3.727 %|
|IO 5/1 LIBOR ARM||3.100 %||0.000 %||3.818 %|
|7/1 LIBOR ARM||3.125 %||0.000 %||3.676 %|
|IO 7/1 LIBOR ARM||3.275 %||0.000 %||3.780 %|
|10/1 LIBOR ARM||3.325 %||0.000 %||3.653 %|
|IO 10/1 LIBOR ARM||3.500 %||0.000 %||3.780 %|
|15 Year Fixed||3.250 %||0.100 %||3.277 %|
|30 Year Fixed||3.800 %||0.100 %||3.815 %|
A refinance jumbo loan can be valuable to homeowners. There can be a number of benefits associated with a refinance jumbo loan, such as lowering monthly payments, switching from an ARM to a fixed-rate, home equity financing or even loan consolidation.
Lower Rate and Lower Payment
A jumbo refinance can help lower your current interest rate, resulting in a lower monthly payment and potential savings over the life of your loan.
Home Equity Financing
Take advantage of your home equity with a jumbo refinance! Our home equity financing option allows you to take out a new jumbo loan with a larger loan amount than your current one and have the difference paid to you. Use this extra money for home improvements, investments, or debt consolidation.
Many homeowners today have a second mortgage. With a refinance jumbo loan, you can combine your first and second mortgages into one jumbo loan. This allows you to consolidate your debt and reduce your payments with a lower interest rate.
Refinance into a Fixed-Rate Jumbo Loan
If your loan is nearing its adjustment period, or if you are already paying a higher interest on your mortgage, a jumbo refinance could help you save. With today’s competitive jumbo-loan interest rates, you may be eligible to refinance into a fixed-rate mortgage and enjoy the security of a fixed interest rate and monthly payment.
To learn more about refinance jumbo loans, and how we may be able to help you secure a competitive jumbo refinance loan, call us at 1.800.217.6520. One of our experienced mortgage lending specialists will be happy to answer any questions you may have so that you can make the best decision that fits your unique financial situation.
It is important to know that with Adjustable-Rate Mortgages, your payment and rate may increase significantly over time.
Not all applicants will qualify for financing. Mortgage rates and terms are subject to change without notice.
Mortgages with LTVs higher than 80% with no PMI may generally have a higher interest rate and/or fees than other mortgages. This may result in a loan without mortgage insurance being more costly for a borrower who intends to remain in the property for a longer period of time. A borrower who intends to remain in the property for a shorter period of time may find that the extra interest cost is lower than the amount of PMI payments for that period of time.
Mortgage escrow accounts are created so that you can pay your yearly property taxes, homeowner’s insurance and mortgage insurance in monthly installments throughout the year, rather than all at once. When these bills are due, we disburse the funds from your escrow account to pay the taxes and insurance in a lump sum. If there is a requirement for a mortgage escrow account at closing, it will be required to be maintained for five (5) years after closing.
The rates displayed may require the establishment of an escrow account upon closing. If you choose to pay taxes and insurance separately, you will be responsible for timely payments, which may be substantial.