Q: I'm trying to refinance a jumbo loan. Owe $1,350,000; Value about $1.7m. Current rate 6.5%. Any lenders you can recommend?
A: We're not in a position to recommend a specfic mortgage lender for you. However, with a loan of that size, there may be fairly wide variances in rates from lender to lender, so you'll want to shop around in your market very thoroughly.
More help from HSH.com
- What is a home equity line of credit?
A home equity line of credit is a type of second mortgage that allows homeowners to borrow money using their home as collateral. - What is a home equity loan?
Homeowners with equity in their property can take out a home equity loan that uses their home as collateral. - What is a rate and term refinance?
Homeowners have a variety of reasons for refinancing and each reason can indicate that one refinance option or another makes the most sense. - Is a home equity line of credit tax-deductible?
One of the benefits of homeownership is the availability of a tax deduction for the interest paid on a mortgage. - Are ten-year fixed-rate mortgages (FRM) available anywhere?
Sure! Virtually all lenders who sell product to Fannie Mae or Freddie Mac will be able to offer you mortgage with a 10-year term. However, interest rates are usually the same as the lender's 15-year offerings.
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