Refinance jumbo loans help you refinance a higher-end home

If you are considering refinancing a higher-end, more expensive house, consider a jumbo loan refinance from HomeTrust Bank. These are typically loans that exceed loan limits for borrowing set by Fannie Mae and Freddie Mac.

Refinancing your higher-end home may be a good financial decision if the savings you realize can cover the refinancing costs. HomeTrust Bank’s expert mortgage lenders can explain today’s refinance jumbo loans clearly in layman’s terms to help you select one that best suits your financial situation.

Refinance jumbo loan basics

  • You need to borrow more than $424,100 to refinance a single-family home.
  • Up to 90% financing of the appraised value of your home is available.

Refinance jumbo mortgages are available for primary homes, second homes, and vacation homes. You can receive these loans with fixed-rate or adjustable-rate terms.

A fixed-rate jumbo refinance loan is best for borrowers who intend to keep their home for several years.

Adjustable rate jumbo refinance loans allow you to make lower payments with lower rates early on in the loan term. They begin with a fixed rate. Once that fixed rate period is over the interest rate may fluctuate. These types of loans are best for people who plan to move before their fixed rate period ends. They are also a good option for those who are expecting an increase in income that will cover the interest rate fluctuations.

Jumbo loan considerations

  • The loan amount is subject to and based on a current appraised value of your home.
  • Borrowers need to have a debt-to-income ratio for jumbo refinance loans that meets our lending criteria. Working with a HomeTrust Bank lender will help you determine if you meet these criteria.

Let our mortgage experts help you refinance now!