Jumbo refinance loans are mortgage loans that are used to refinance existing jumbo loans. A jumbo loan is a type of mortgage that exceeds the conforming loan limits set by Fannie Mae and Freddie Mac, which are the government-sponsored enterprises that purchase mortgages from lenders. Jumbo refinance loans are typically used by borrowers who have higher loan amounts and require different terms or features.
It's important to consult with a lender or mortgage professional experienced in jumbo loans to understand the specific requirements and benefits of a jumbo refinance loan based on your individual circumstances. They can guide you through the process and help determine if a jumbo refinance loan is the right option for you.