Refinance your first-class dream home with a jumbo loan refinance.
Lower payment on your high-value home- Get financed for a higher loan amount
- Fixed or adjustable rates
Why choose AmeriSave for a jumbo loan refinance?
Lower Your Monthly Payment
Secure a lower interest rate and make smaller payments every month.
Pick Your Loan Type
Choose an adjustable- or fixed-rate mortgage to fit your financial goals.
Unlock Cash From Your Equity
Get cash from your home’s value to pay off debt, renovate, or anything you’d like.
Trusted Expertise
Over 730K clients. 23 years’ experience. One goal: helping you build a brighter future.
Smarter technology. Real numbers.
Get Personalized Loan OptionsSee your best loan options with technology that analyzes your finances in real time.
Flexible Loans And TermsPick the right loan and term that helps you achieve your unique homeownership goals.
Close Your Loan QuicklyGet approved and funded quickly, so you can enjoy your new financial freedom.
Get Personalized Loan Options
See your best loan options with technology that analyzes your finances in real time.
Flexible Loans And Terms
Pick the right loan and term that helps you achieve your unique homeownership goals.
Close Your Loan Quickly
Get approved and funded quickly, so you can enjoy your new financial freedom.
Lower the rate on your high-value home.
Jumbo refinances replace a high-balance mortgage with a new one, typically to lower your rate, switch from ARM to fixed, or consolidate a piggyback second mortgage.
Verify Equity And Credit
Most jumbo refinances require 700+ FICO, 20%+ equity, and 6 to 12 months of cash reserves at closing.
Submit Full Documentation
Jumbo underwriting is thorough, including tax returns, asset statements, employment verification, and often source-of-funds letters.
Close On A Measured Timeline
Jumbo refinances typically close in 45 to 60 days. The highest-value properties require two appraisals to confirm the value.
Pay Less On A Large Balance
Even a small rate reduction on a jumbo balance creates meaningful monthly and lifetime savings.
High loan balance, higher standards.
Jumbo refinances typically cap at 80% LTV on most programs (75% on cash-out variants). Strong credit and substantial reserves are the standard package.
Reasons To Refinance A Jumbo Loan
A jumbo refinance is most valuable when the math is large; small rate changes on a large balance create meaningful monthly savings.
Lower Your Rate On A Large Balance
On a high-balance loan, even a half-point rate drop translates into meaningful monthly and lifetime savings, easily justifying closing costs.
Eliminate A Piggyback Or Second
Combine your first mortgage and a second mortgage or HELOC into a single jumbo loan with one payment and one rate.
Switch From ARM To Fixed
If you used an ARM to qualify and your fixed period is ending, refinancing into a jumbo fixed locks in long-term certainty.
Tap Equity For Major Projects
A jumbo cash-out refinance can fund a major renovation, a second home down payment, or a business investment using equity in your primary.
Jumbo Refinance Requirements
Jumbo underwriting is more conservative than conforming; strong credit, low DTI, and deep reserves are the standard package.
700+ minimum at most lenders; 740+ for the best pricing. Recent late payments or collections complicate approval.
Often capped at 43%; some programs allow up to 45% with strong reserves and credit. Lower is always better in jumbo.
Rate-and-term refinances typically max at 80% to 90% LTV. Cash-out caps at 75% to 80% LTV depending on credit and loan size.
Six to twelve months of mortgage payments in liquid reserves at closing, plus a two-year W-2 or self-employment record, current paystubs, and bank statements covering source of funds.
Jumbo Refinance vs. Conforming Refinance
If your loan amount exceeds the conforming limit set by the Federal Housing Finance Agency, you're in jumbo territory, and the rules change.
Pros And Cons of A Jumbo Refinance
Jumbo refinances unlock financing options for high-value properties, but underwriting is stricter and reserves matter more.
What Works In Your Favor
Competitive Rates For Strong Borrowers
Well-qualified jumbo borrowers often get rates close to, sometimes below, conforming rates, because lenders compete for this profile.
Refinance Large Balances In One Loan
No need to split into a conforming first plus a second mortgage. One loan, one rate, one payment, one closing.
Cash-Out Potential On High-Equity Homes
If you've built significant equity in a high-value home, a jumbo cash-out can access more cash than any HELOC or home equity loan.
Flexible Product Options
Jumbo programs include fixed terms, ARMs, and interest-only structures; useful for sophisticated borrowers managing cash flow.
Potential Interest Deduction
Mortgage interest on jumbo loans may be tax-deductible up to the IRS limit. Confirm with a tax advisor based on your situation.
What To Weigh Carefully
Tighter Credit Requirements
Jumbo lenders want 700+ scores, often 740+, with clean recent credit history. Past late payments are harder to explain away.
Larger Reserve Requirements
Six to twelve months of mortgage payments in liquid reserves is typical. That can be a significant amount on a jumbo loan.
More Documentation
Tax returns, asset statements, employment verification, and often source-of-funds letters. Self-employed borrowers face the heaviest paperwork load.
Higher Closing Costs
Closing costs scale with the loan amount, so 2% to 5% on a jumbo refinance is a larger absolute number than on a conforming loan.
Stricter Appraisal Scrutiny
Some jumbo programs require two appraisals on the highest-value properties to confirm the home supports the loan amount.
Frequently Asked Questions
A jumbo loan refinance replaces an existing mortgage that is higher than the limits for conforming loans with a new loan. This lets homeowners of high-value properties get a lower rate, a different term, or access their home equity. Continue Reading...
Absolutely. You can refinance a jumbo loan just like a conventional mortgage, but with specialized options designed for high-value properties and borrowers with substantial assets. Refinancing a loan can help lower your rate, change your term, or access your home’s equity.
Refinancing your jumbo loan could substantially lower your monthly payment, reduce total interest costs over the life of your loan, or give you access to the equity you’ve built in your high-value home. It’s worth considering if your financial situation has improved or market rates have changed since you got your original loan.