A Jumbo Cash-Out Refinance For High-Value Homes
Take cash from your equity when your loan is above the conforming limit. At least one program allows a cash-out refinance up to a $3,000,000 loan amount with a 740 score.*
Turn high-value equity into cash.
On a jumbo cash-out, the rules come down to how much cash, how long you have owned the home, and what you keep in reserve.
- Cash in hand capped at $500,000 at several programs, and up to $1,500,000 at one*
- At least one program requires six months of ownership before a cash-out
- Bought with cash in the last 180 days? Delayed financing is an option at one program*
- Cash out on a home you own free and clear is allowed at one program and not at another
- At least one program lets the cash count toward your reserves*
- Loan amounts up to $3,000,000 on a one-unit home with a 740 score at one program*
Up to $3,000,000* loan amount
Cash in hand up to $500,000 or more*
Primary home or rental property*
Six months of ownership first
Cash can count toward reserves*
Free-and-clear homes at one program
What Is The Saxton Jumbo Cash-Out Refinance?
A new jumbo loan that pays off your current mortgage and puts the rest of your equity in your hands.
The Saxton Jumbo Cash-Out Refinance replaces your current mortgage with a new loan above the conforming limit and pays you cash from your equity. Several programs cap the cash you receive at $500,000, while at least one allows up to $1,500,000 in hand.*
Timing matters. At least one program requires you to have owned the home for six months, and another treats a home listed for sale in the last six months as ineligible. If you bought with cash in the last 180 days, delayed financing may let you take that money back sooner.*
Expect tighter limits than on a purchase. At one program the maximum debt-to-income ratio on a cash-out is 40%, against 50% on a purchase, and cash-out is not offered above a $2,000,000 loan amount there. Another program allows up to $3,000,000 with a 740 score and 18 months of reserves.*
Why choose the Saxton Jumbo Cash-Out Refinance?
Built for owners with a jumbo balance and equity to use.
Cash Up To $500K In Hand
Several programs cap the cash you walk away with at $500,000. At least one counts unsecured debt payoffs and unseasoned liens toward that same cap.*
Bigger Cash At One Program
At least one program allows up to $1,500,000 cash in hand, and another allows up to $1,000,000 on an investment property.*
Six Months Of Ownership
At least one program requires six months of ownership before a cash-out. Homes listed for sale in the past six months are ineligible at another.
Paid Cash? Get It Back
Delayed financing is eligible at one program when you bought the home for cash within 180 days of applying.
Free And Clear Homes
One program allows a new mortgage on a home you own outright, while another does not allow cash out on a free-and-clear home, so we match you to the right one.
Cash Can Be Reserves
Some programs let your cash-out proceeds count toward the reserves you need. At least one does not, so plan your savings with that in mind.*
Hear From Homeowners Like You
Frequently Asked Questions
Answers to the jumbo cash-out questions we hear most.
Several programs cap cash in hand at $500,000. At least one allows up to $1,500,000, and another allows up to $1,000,000 on an investment property.*
At least one program requires six months of ownership before a cash-out refinance. If you bought with cash in the last 180 days, ask about delayed financing.*
It depends on the program. One allows a new mortgage on a home you own outright, and another lists free-and-clear homes as ineligible for cash out.
It depends on the loan size. At least one program allows a cash-out up to $3,000,000 on a one-unit home with a 740 score.*
It depends on the program and the loan size. At least one asks for 18 months of reserves at $3,000,000, and some let the cash you take out count toward reserves.*
At least one program allows cash out on an investment property. You will sign a short statement explaining how you plan to use the funds.*
Not on every program. At least one does not permit a power of attorney on cash-out transactions, so plan to sign in person.
Find out what you qualify for
Ready to put your equity to work? Get a fast, no-obligation pre-qualification and we will match you to the cash-out program that fits.
Get Pre-Qualified*Loan amounts, rates, terms, and down payment requirements are subject to credit approval, income and asset verification, and program eligibility. Loan amounts up to $3,000,000 on at least one program; cash in hand limits vary by program. Down payment and cash-out limits vary by occupancy, credit score, and documentation type. Not all applicants will qualify. Saxton Mortgage, LLC is an Equal Housing Lender.