A refinance jumbo loan can be valuable to homeowners, offering a number of benefits that include:
Lower Rate and Lower Payment
Refinancing can help lower your current interest rate, resulting in a lower monthly payment and potential savings over the life of your loan.
By taking advantage of your home equity, you can refinance into a new jumbo loan with a larger loan amount than your current one, and have the difference paid to you. You can use this extra money for home improvements, investments, debt consolidation and more. You can also combine your first and second mortgages into one first-lien jumbo loan, and eliminate the higher rate you may be paying on your second mortgage.
Refinancing for payment stability
If your adjustable-rate jumbo loan is nearing its adjustment period, or if you are already paying higher interest on your mortgage, refinancing 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 predictable monthly payment.
Cash-out refinance options are also available
Our mortgage specialists will help you choose what's right for your unique financial situation.
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