Why Refinance a Jumbo Loan? Jumbo loans are typically utilized when the mortgage amount exceeds the limit set by Fannie Mae and Freddie Mac. These high-value loans are reserved for people purchasing a home in a high-priced area, investment properties, or vacation houses. To qualify for a jumbo loan, the

How Does Refinancing Work? When someone refinances a home, they are replacing their existing home loan with a new mortgage to either save money or get cash in hand. If the borrower wants to take advantage of falling interest rates, refinancing can lower monthly payments. Moreover, after refinancing, mortgage terms