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A jumbo refinance loan or mortgage is a home loan of which value exceeds conventional refinance home loan limits which are set by Fannie Mae and Freddie Mac.
Typically, jumbo refinance mortgages are used to refinance luxury, high-end properties, homes and condos. The jumbo refinance mortgage, conforming limit in “high-cost” areas is currently $625,500.
Jumbo refinance mortgages also subject lenders to significantly higher risk due to the fact that if a jumbo mortgage loan defaults it would be harder to sell a luxury residence quickly for full price.
With this in mind, the interest rate charged on a jumbo refinance mortgage loan is generally higher than a conforming refinance home loan and, depending on which lending you chose, the rate can fluctuate significantly.
At Security America Realty, our team of jumbo refinance mortgage specialists are experts in all types of jumbo refinance mortgages and we offer extremely competitive, market rates.
If you are looking to refinance your existing property with a jumbo refinance mortgage and want to streamline the entire process then contact us today by completing the form on this page.
Jumbo Refinance – Security American Realty specializes in helping Military Veterans and the civilian community in Real Estate. If you want to buy or sell your home in Houston, Texas you need to be sure that you are being represented by an experienced and knowledgeable team of Houston real estate agents. You can rest assured that choosing Security American Realty for your real estate needs will give you an upper hand whenever buying or selling a home in Houston.