Downtown Portland Aerial - Jumbo Loans

Jumbo Loans for refinancing are for larger loans exceeding 424,100, with higher loan amounts for 2-4 unit properties. Larger cities like Portland, with higher property values, often require Jumbo Loans. This loan program is available for home owners refinancing larger, more expensive homes. Jumbo Loans / Refinances can be used for owner occupied, second homes, or non-owner occupied (rental) properties.

Loan Features

  • Available loan amount from 424,100 up to $5,000,000
  • Self-employment is acceptable.
  • Fixed rates and adjustable rates available.
  • No Private Mortgage Insurance (PMI) is required for jumbo loans with an LTV of 80% or less.
  • Interest may be tax deductible for jumbo loans up to $1,000,000.
  • Flexibility for refinancing
  • Reasonable closing costs

Loan Requirements

  • No cash-out refinances at 80% LTV or less
  • Cash-out refinances at 70% LTV or less
  • Capacity for higher interest rates
  • Two years of work history with rental income being helpful
  • Two appraisals may be necessary