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THIS WEEK
Does refinancing actually make sense for you?
Hi there. I want to share some straight talk about refinancing—when it's a smart move and when it's not worth the effort.
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RATE SNAPSHOT · August 27, 2026
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Source: Freddie Mac PMMS & Optimal Blue via FRED. National averages — informational only.
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Refinance Basics
When refinancing makes sense (and when it doesn't)
Not every refinance pencils out, and that's okay. The math comes down to two things: how much you'll save on your monthly payment, and how long you plan to stay in your home. If you're refinancing to a lower rate but extending your loan term, you might pay less each month but more interest overall. On the flip side, if rates have dropped since you bought, even a modest dip can add up to real savings—especially if you're staying put for several more years. The best move is to run the actual numbers with your specific loan details. I'm happy to walk through the scenarios with you and show you what different options would really cost. Reach out anytime—no pressure, just clarity. Let's talk through whether a refinance makes sense for your situation.
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Tip of the Week
Schedule a plumber to inspect older homes for slow leaks — water damage is expensive and often hidden until it's serious.
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Tips for Homeowners
Jumbo Loans: What They Are and How They Work
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1.
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A jumbo loan exceeds the conforming loan limit set by the FHFA — $766,550 in most areas for 2024, higher in designated high-cost markets. These loans can't be sold to Fannie Mae or Freddie Mac.
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2.
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Jumbo loans typically require stronger credit (often 700+), larger down payments (10–20%), and more cash reserves. Underwriting is more thorough and can take longer.
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3.
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Rates on jumbo loans are sometimes comparable to or even lower than conforming rates, depending on market conditions. Don't assume a jumbo loan means a worse deal — shop lenders.
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Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the Brad Flores team any time and we'll walk you through your options.
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