Posted on May 03

Question: I have a jumbo mortgage. Can I refinance it into two conforming mortgages?

Answer:
It is fairly common for people to take a conforming 1st and a HELOC 2nd, but, since the HELOC can adjust on a monthly basis, that option is quite risky giving the consensus that rates will be increasing.

We offer 30yr fixed Fixed rate Jumbos to 80% LTV to $1,000,000 loan; rates today are 5.125% with 3/4 point discount and about $1,060 of other closing costs (presuming 720+ mid score).

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I have a jumbo mortgage. Can I refinance it into two conforming mortgages?

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Well, the first thing I would do is, call a Chamber of Commerce in the town or area of Canada you wish to move to. They are usually very willing to help a person who wants to settle, (roots) in there town or country for that matter. Are you really sure you want to buy a house right away? What if you do not like Canada. Now, you have a mortgage. Why don’t you rent a place first, then if you like Canada then buy a house. Especially if you become a registered alien in that country you might be able to secure a mortgage.

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One thought on “I have a jumbo mortgage. Can I refinance it into two conforming mortgages?”

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One thought on “
I have a jumbo mortgage. Can I refinance it into two conforming mortgages?
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