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Super Conforming Refinance Loan

A conventional loan is available in fixed rate.

Super Conforming Fixed

  • Do you want to be able to depend on paying one principal and interest payment amount over the course of your home loan, despite possible fluctuations in the interest rate?
  • Do you plan on remaining in your home for a long period of time?
  • For budgeting purposes, do you feel comfortable knowing that your payment will not change?

A super conforming refinance loan is slightly different than a conventional fixed rate refinance.  It’s just like a conforming loan except that it can be used for higher loan amounts. Super conforming loans are limited to certain counties in the US. They also have better rates than Jumbo loans, so these can really save you money if you have a high loan amount. Everything else is roughly the same as a conventional loan, like having terms from 8 to 30 years.  Payments made are based on the interest rate at the time the loan was originated and locked, and the principal loan amount which is amortized over the course of the loan.  In addition, you can use a conventional loan to refinance up to 95% (when borrowing $647,200 or less)of your property’s current home value.  At any time you can pay your loan off early without pre-payment penalties. If your monthly budget allows, and if you are looking to pay off your home faster, rates will be lower for a 15 year versus a 30 year loan. This would decrease your overall loan expense, while slightly increasing your monthly payment.


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