We want this to be a “win-win” situation. So we only want to get paid if we bring you value in the form of finding a personal finance option that works for you. Not by selling your data. We are a wholesale broker, meaning we have access to rates our mortgage lenders offer solely to brokers they work with. Generally, our lenders pay us and incorporate the cost of our services as part of the final interest rate on your loan, or in your loan amount. This is common practice in mortgage transactions where you choose for the lender to pay your broker’s fee upfront. If you would prefer to minimize your rate, you may opt to buy "points" to decrease your rate, or pay our broker compensation yourself. Please talk to one of our licensed loan officers to explore your options.
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How it works
Checking rates won’t affect credit score
Get prequalified rates in 3 minutes:
It's quick and painless. Tell us a little bit about you and your home to get accurate prequalified rates without impacting your credit score.
Compare rates from multiple lenders:
View the interest rate and cost breakdown of each loan to choose the best lender and loan product for you. Need help? Our mortgage team is not commissioned, so they're always on your side.
Upload documents on Credible:
We take the stress out of refinancing by automating the document collection process, keeping you updated on the status of your application every step of the way.
Finish your loan with us:
With Credible, you can complete the whole refinance process online. We have a team of dedicated mortgage experts ready to help you if you need it.
A jumbo loan is a high-value mortgage that is larger than the conforming limits set by the Federal Housing Finance Administration (FHFA).
The FHFA determines the largest loan that can be sold to Fannie Mae or Freddie Mac. If a loan exceeds those limits, it’s considered a jumbo loan and cannot be purchased by Fannie Mae or Freddie Mac. As a result, it can sometimes be a little more challenging to qualify for a jumbo loan.
The best time to refinance depends on your situation. Refinancing your jumbo mortgage can get you a lower rate, which can save you money on interest in the long run.
In some cases, it might also make sense to refinance to a longer term. Doing this can lead to a smaller monthly payment, which could result in better monthly cash flow. However, you’ll likely pay more in interest with a longer term. So it’s a good idea to always run the numbers to see if refinancing makes sense for you.
Learn More: How to Refinance a Jumbo Loan
Once you’ve decided refinancing is in your best interest, and you’ve done what you can to improve your credit score and debt-to-income ratio, you’ll want to shop around for rates.
Start by comparing lenders and seeing what jumbo mortgage refinance rates they offer. Credible makes this easy. You can get actual prequalified rates from all of our partner lenders in just a few minutes — and most importantly, it won’t affect your credit.
When comparing jumbo refinance rates, be sure to also factor in closing costs. In some cases, you might end up paying between 2% to 3% of your loan value when you refinance.
Keep Reading: What Is a Mortgage Rate and How Do They Work?
How a cash-out mortgage refinance works
Cash-out refinancing allows you to take money out of your home equity by refinancing your current mortgage for an amount that is greater than your existing loan and the refinancing loan’s closing costs. Find out more about how a cash-out refinance works.
How to refinance your mortgage
Refinancing your mortgage can be much simpler than the process you went through when you bought your home. Here’s how to refinance your mortgage — and everything you need to know before you do.
When to refinance your mortgage
If you own a home, it’s a good idea to reassess your mortgage periodically to see if you can find a better deal elsewhere. Check out some of the reasons refinancing your mortgage could be a good idea.
How to get the best mortgage refinance rates
You really have to do your research if you want to get the best mortgage refinance rate. We’ll take some of the burden off you by doing most of the legwork so you can find the best rate for your situation.
Ready to take the next step? Takes less than 3 minutes.