Georgia Jumbo Loan Refinance
One of the most common misconceptions about jumbo mortgages is that they are extremely hard to refinance. That might have been absolutely true a few years ago when the real estate market was still recovering from the 2008 market collapse. But today it is no longer the case, at least not in Georgia. You can do a Georgia jumbo loan refinance with very flexible terms. If you are thinking of refinancing your Georgia jumbo mortgage contact Moreira Team and we will help you shop for the best deals.
When you refinance your jumbo mortgage loan, you will get lower interest rates and lower insurance charges. That will translate to lower monthly payments, which in turn will help you save. Meanwhile, there are certain considerations to keep in mind. For starters a jumbo refinance is harder to qualify for compared to a traditional refinance. A good number of Georgia lenders will ask for at least 20% equity in the home you want to refinance. If you have a good negotiator, you can lower that to up to 10%. In some cases, you won’t even have to pay mortgage insurance even with 10% equity. But you need to have a FICO score of at least 680.
One of the best things about Georgia jumbo loan refinance is that you can get up to 90% financing. Additionally, other than the normal refinancing, you can opt for a jumbo cash-out refinance. It is a great option for any Georgia homeowner who is cash strapped and needs to convert build up equity to cash. Read through our website to learn more about the various types and options of Georgia jumbo loan refinance. If you are considering doing a jumbo refinance for your Georgia home start by giving us a call and we will help you through the process.