Question 1

What's the jumbo threshold in Washington in 2025?

Accepted Answer

Anything above your county's conforming loan limit. In King, Snohomish, and Pierce counties, the 2025 high-cost limit is $1,209,750 — so jumbo starts at $1,209,751. In most other WA counties, the baseline limit of $806,500 applies. If your current loan balance is below those numbers, you may be able to refinance from jumbo to conforming and save significantly on rate.

Question 2

What credit score do I need to refinance a jumbo loan?

Accepted Answer

Most jumbo refinance programs want 700+, with the best pricing at 740+. Specialty investors will go to 680, and a select few non-QM jumbo lenders work down to 660 at higher rates. I work with 30+ jumbo investors, so we have room to maneuver.

Question 3

How much equity do I need for a jumbo cash-out in WA?

Accepted Answer

Most jumbo cash-out programs cap at 70–80% LTV. For a $2M Bellevue home, that's $1.4M–$1.6M in new loan against $400K–$600K of cash-out room. Reserve requirements are also stricter — typically 6–12 months of PITI in liquid assets.

Question 4

Are jumbo refinance rates higher than conforming?

Accepted Answer

Sometimes lower, actually. In recent years jumbo rates have often beaten conforming for strong borrowers, because portfolio lenders price competitively to capture wealthy customers. The pricing landscape changes constantly — I'll show you both same-day quotes.

Question 5

How long does a jumbo refinance take?

Accepted Answer

Typically 30–45 days. Jumbo files have more documentation requirements — full asset statements, sometimes multiple years of tax returns, business financials if self-employed — so responsiveness matters. A clean, organized borrower can still close in 25 days.

Question 6

Can I refinance from jumbo to conforming?

Accepted Answer

Yes — if you've paid your balance down or property value has shifted enough that the new loan fits within conforming limits. This is often a big win because conforming gets you tighter rate sheets, lower reserves, and easier appraisal. Common play for Seattle and Bellevue homeowners who've paid down 5–10 years on a former jumbo.

Question 7

Are interest-only jumbo refinances available?

Accepted Answer

Yes. Several portfolio lenders offer 10-year interest-only periods on 30-year jumbos. Useful for high-income borrowers who want maximum monthly cash flow or who plan to sell/refinance before the I/O period ends. Rates are typically 0.25–0.5% higher than fully amortizing jumbos.

Question 8

Can I do a jumbo refi on a second home or investment property?

Accepted Answer

Yes. Jumbo second-home refis cap around 70–75% LTV; investment jumbo refis around 65–70%. Pricing is roughly 0.25–0.75% higher than primary residence. Common for Eastside and waterfront vacation properties in the San Juans, Hood Canal, and Lake Chelan.

Question 9

Do I need bigger reserves for a jumbo refinance?

Accepted Answer

Yes — typically 6–12 months of full PITI in liquid reserves, sometimes more for cash-out or investment. Retirement accounts usually count at 60–70% of value. Reserves are one of the most common reasons jumbo files stall, so we'll document them up front.

Jumbo Refinance

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What this looks like in Washington

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Common Questions

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