Maryland Jumbo Refinance

 

Refinancing a jumbo mortgage is an excellent way to lower interest rates charged on the loan. Considering the sheer amount of the loan, a slight difference in interest rates can save you thousands of dollars over the duration of your mortgage. If you are a Maryland homeowner who bought their house using a jumbo loan, you probably have thought about refinancing the mortgage. So, should you? There’s no doubt that the current mortgage rates in Maryland (including jumbo rates) are historic lows, but is that enough reason to refinance?

First of all, a jumbo mortgage, and by extension a jumbo refinance, is very different from a conforming one. We have explained that in detail in the following sections, so read on and learn everything there is to know. That said, our home loan experts here at TJC Mortgage recommend that if you see a drop in Maryland jumbo loan interest rates, you should consider a refinance. Start by consulting a mortgage professional to find out whether the change in interest rates is enough to lower your monthly payments significantly.

At times the change might be too small, and with closing costs that come with the refinance, you may end up paying more in the long run. There is also a chance that you may take very long to break even. Talk to TJC Mortgage today and we will help you determine whether it is financially sensible to do a Maryland jumbo refinance with the current interest rates. We have various refinance programs that you can take advantage of, including refinancing your jumbo loan to a conforming one if you have reduced its amount significantly. Here’s some handy information about Maryland jumbo refinance to keep you in the loop.

Maryland City Mortgage Service Areas