Posted on: 21st Oct, 2013 01:01 am
Is it possible to refinance a jumbo loan with just 20% equity in the property?
Hi Era,
You might be able to refinance a jumbo loan with 20% equity in the property if you meet all the required criteria as set forth by the lender.
Thanks,
Jerry
You might be able to refinance a jumbo loan with 20% equity in the property if you meet all the required criteria as set forth by the lender.
Thanks,
Jerry
Yes, you can refinance a jumbo loan with that amount of home equity. But you need to keep in mind that the down payment would be much higher as compared to conventional mortgage loans. Will you be able to afford that?
Jumbo loans are avaialble for refinancing up to 80% of the property appraised value.
However, the jumbo loans are not readily available in every county in every state.
You did not give any indication as to where the property is located, nor if it is one or two or three or four family nor if it is owner occupied. So, to answer your question: Yes, jumbo loans are avaialble to 80% of appraised value.
We can not advise you any further without any infomation from you.
However, the jumbo loans are not readily available in every county in every state.
You did not give any indication as to where the property is located, nor if it is one or two or three or four family nor if it is owner occupied. So, to answer your question: Yes, jumbo loans are avaialble to 80% of appraised value.
We can not advise you any further without any infomation from you.
