Jumbo Refinance Loan Mortgages | Jumbo Refinance Mortgage Loans

Jumbo Refinance Loans

What Types of Mortgage Loans Are Available For My Jumbo Loan Refinance?

Conventional Jumbo Loans (High Balance) - Ideal for Borrowers with Excellent Credit and a Substantial Home Equity
Conventional Loan guidelines are currently written in a way that a borrower with a 740+ credit score can usually obtain the best interest rate possible. As a borrowers credit score decreases below a 740, sizable fees and rate increases could be added, in excess of the 1-2 percent range. If your credit score is less than perfect, an FHA Loan, USDA Loan or VA Loan could be a better fit for you. The maximum loan amount allowed for an Conventional Conforming varies from county to county. The highest maximum Conventional Conforming right now is $729,750. The lowest maximum Conventional Mortgage amount available in any county is $417,000. To see what the limit is in the county in which you're interested, visit the following site https://www.efanniemae.com/sf/refmaterials/loanlimits/. This site lists U.S. territories as well as states.

FHA Jumbo Loans - Ideal for Borrowers who have Less Than Perfect Credit and a Smaller Home Equity
FHA Jumbo Refinance Loan requirements are not totally credit score driven, although it is required to have at least a 620 FICO score to obtain an approval. For FHA Refinance Loans, if the borrower does not take cash out then the maximum financing will be 97.75% of the appraised value of the home or the amount you are refinancing plus closing costs, whichever is lower. If the borrower wishes to take cash out of the property, then the maximum financing amount is 85% of the current appraised value. The maximum loan amount allowed for an FHA Jumbo Refinance varies from county to county. The highest maximum FHA Mortgage right now is $729,750. The lowest maximum FHA Mortgage amount available in any county is $271,050. To see what the limit is in the county in which you're interested, visit the following site https://entp.hud.gov/idapp/html/hicostlook.cfm. This site lists U.S. territories as well as states.

VA Jumbo Loans - Ideal for Borrowers who are Veterans of the US Armed Services
VA Loans require no down payment and no mortgage insurance. It is required to have a 620 FICO score to obtain a VA Refinance Loan. For VA Refinance Loans, if the borrower does not take cash out then the maximum financing will be 100% of the appraised value of the home or the amount you are refinancing plus closing costs, whichever is lower. If the borrower wishes to take cash out of the property, then the maximum financing amount is 90% of the current appraised value. The maximum loan amount allowed for a VA Mortgage varies from county to county. The highest maximum VA Mortgage right now is $1,094,625. The lowest maximum VA Mortgage amount available in any county is $417,000. To see what the limit is in the county in which you're interested, visit the following page http://www.homeloans.va.gov/docs/2009_county_loan_limits.pdf. This site lists U.S. territories as well as states.

Additional Jumbo Programs
Depending on the individual, you may be able to qualify for one of our additional Jumbo Loan programs for loan amounts of $417,000 to $3,000,000. These Jumbo Loan Requirements can vary form program to program. Please complete our Online Application to determine your eligibility.

What Types of Mortgages are Available for my Jumbo Home Refinance?

Conventional Jumbo Loans
Conventional Loan requirements are more credit score driven than other loan types and it is usually required to have at least a 620 FICO score to obtain an approval. Conventional Loan guidelines are currently written in a way that a borrower with a 740+ credit score can usually obtain the best interest rate possible. As a borrowers credit score decreases below a 740, sizable fees and rate increases could be added, in excess of the 1-2 percent range. If your credit score is less than perfect, an FHA Loan, USDA Loan or VA Loan could be a better fit for you.

FHA Jumbo Loans
FHA mortgage loan requirements are not totally credit score driven, although it is required to have at least a 620 FICO score to obtain an approval.

VA Jumbo Loans
VA Loans require no down payment and no mortgage insurance. It is required to have a 620 FICO score to obtain a VA loan approval.