Jumbo cash-out refinance is the go-to product for high-value home owners looking to access substantial equity. It's the only realistic path for pulling seven-figure cash from an appreciated Colorado mountain home or Florida coastal estate.
Where jumbo cash-out is common
Colorado: Telluride, Aspen, Snowmass, Vail, Beaver Creek, Breckenridge, Steamboat Springs, Boulder foothills, Denver luxury neighborhoods.
Florida: Naples, Marco Island, Miami Beach, Coral Gables, Palm Beach, Boca Raton, Fort Lauderdale coastal, Sarasota barrier islands, Destin, 30A, Key West.
Jumbo cash-out terms
- LTV: typically 70–80% for primary residence, 70–75% for second home, 65–70% for investment property
- FICO: 720+ typical, 700+ minimum on most programs
- Reserves: 6–12 months PITIA on subject, 2–4 months on each additional financed property
- DTI: typically capped at 43%, up to 45–50% on select programs
- Cash-out cap: $500K–$3M+ depending on program
Common use cases
- Second home or investment property purchase
- Renovation / addition
- Business capital or private equity commitment
- Portfolio diversification (equity out of illiquid real estate into liquid investments)
- Bridge cash before a liquidity event (bonus, IPO, business sale)
Rate impact
Jumbo cash-out prices 0.375–0.75% above rate-and-term jumbo. On a $2M loan, that spread is $500–$1,250/month — worth pricing carefully. Some borrowers split the refi into a rate-and-term jumbo plus a jumbo HELOC to preserve the lower first-lien rate.
FAQs
What LTV can I get on jumbo cash-out?
Typically 70–80% LTV, depending on FICO, loan size, and property type. Larger loan amounts and investment properties get more conservative LTV caps.
How much cash can I pull on a jumbo cash-out?
On a $3M home with $1M owed, 75% LTV lets you refinance up to $2.25M — so up to $1.25M cash out at closing, minus closing costs. Actual numbers depend on your appraised value and program.
What are typical reserve requirements?
6–12 months PITIA on the subject property, plus 2–4 months on each additional financed property. Investment properties and larger loan amounts require more.
Can I do jumbo cash-out on a second home or investment property?
Yes on both. Second-home jumbo cash-out typically caps at 70–75% LTV; investment-property jumbo cash-out at 65–70%. Rates and reserves both step up vs. primary residence.
Related: Jumbo refinance Colorado · Jumbo refinance Florida · Jumbo loans Colorado · Jumbo loans Florida · HELOC