Mortgage + Home Equity Financing

Features

This blended jumbo loan pairs a "conforming" first mortgage with a home equity line of credit.
The first mortgage is available in a variety of fixed-rate and adjustable-rate loan options — the home equity line of credit has a variable interest rate.
You may be able to add extra mortgage features, such as a temporary payment reduction.

Benefits

Have ongoing access to your available equity without reapplying.
Choose to advance funds at the line of credit variable rate or advance funds and lock in your rate with a fixed-rate advance.

Considerations

You will have to make two separate monthly payments.
With the variable interest rate on your line of credit balance, your monthly payments may increase or decrease as interest rates fluctuate.
For a jumbo loan with a potentially lower total monthly payment, consider using the fixed-rate advance option on your home equity line of credit.

Apply for a home equity line of credit. Get Started

Conventional conforming mortgage
A mortgage that is not obtained under a government program (FHA or VA) and satisfies the underwriting guidelines and loan limits set by Fannie Mae or Freddie Mac.

Variable interest rate
An interest rate that may fluctuate or change periodically, often in relation to an index, such as the prime rate or other criteria. Payments may increase or decrease accordingly.