Monthly payment examples below are for a loan amount of $1,100k. Taxes and insurance not included within the estimate; actual payment amount will be greater.
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Rates are current as of 9:31 PM UTC on September 17, 2025
What factors determine your jumbo loan refinance rate?
You can control some things that determine your interest rate; others, not so much. No matter what the factors are, we’ll find a great rate for you.
Economic
The stock market, the Federal Reserve, inflation and the bond market all influence jumbo loan refinance rates.
Personal
Your credit profile, your debt compared to your income, and how much you’re borrowing help determine your mortgage rate.
Loan term and type of rate
Whether you choose a fixed or adjustable rate, or a 30-year or 15-year term, will affect the rate you get.
Pros and cons of refinancing a jumbo loan
Pros
Take cash out. You can refinance your existing jumbo loan and use your home’s equity to take cash out.
Pay your mortgage off sooner. If you want to be mortgage-free faster, you can refinance to a shorter term.
Lower your monthly payment. You can refinance a jumbo loan to lengthen your term, which is a way to lower your mortgage payment.
Cons
There are cost for getting a new mortgage. Just like when you bought your home, you pay closing costs when refinancing - although they’re often rolled into the loan.
Your monthly mortgage payment will increase if you’re refinancing to take cash out, because your loan amount increases.
You’ll need reserves when refinancing. Reserves are cash that can be used to make at least 6-12 months of mortgage payments.
Jumbo loan refinance rate frequently asked questions
Refinancing is replacing your current mortgage with a new one. It shares many of the same steps as getting a mortgage to buy a home, even for jumbo loans.
- Start an application or contact us so we can learn about your goals and your existing mortgage.
- If refinancing looks right for you, we’ll walk you through your options and rates.
- You’ll start the process of getting your mortgage.
- You’ll get an appraisal and provide necessary documents.
- Then you’ll close on your loan.
Here are some general guidelines at Rocket Mortgage when refinancing a jumbo loan for a primary home to take cash out. If your goal or situation is different, or you’re a military member, talk to us to see what’s possible.
- For amounts under $2 million, a credit score above 680.
- For amounts over $2 million, a credit score above 720.
- Between 6-12 months of reserves, depending on the amount you’re refinancing.
- Less than half your income going to debt.
Whether you want take cash out, change your monthly payment, loan length or type of loan, Rocket Mortgage has a variety of jumbo options and can help find the right loan at the best rate for you. Options can include:
- Jumbo loans with a 15- or 30-year term (loan length)
- FHA jumbo loans
- VA jumbo loans
- ARM (adjustable-rate mortgage) jumbo loans
Learn about jumbo loans and refinancing
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How to refinance a jumbo loan
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Refinancing: What is it and how does it work?
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How long does it take to refinance a house?
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How to refinance a jumbo loan
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Refinancing: What is it and how does it work?
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