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 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. - 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. - Can I get copies of checks from a past refinance?
It's not going to be easy, that's for sure. - Can I refinance an underwater ‘kiddie condo’?
If the home is underwater, HARP is really your only option. - Will shopping around for a refinance affect my credit?
Credit bureaus usually treat multiple applications to different lenders as a single entry in your credit file.
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