Jumbo Cash-Out Refinance — California
Can you do a cash-out refinance on a jumbo loan?
Yes — jumbo cash-out refinances are available for California homeowners with significant equity. Here’s how it works.
LTV limits and loan amounts
| Occupancy | Max LTV | Max loan amount | Min credit score |
|---|---|---|---|
| Primary residence | 70–80% depending on program | Up to $3M on select programs | 700–720+ |
| Second home | 60–75% depending on program | Up to $2M on most programs | 720+ |
| Investment property | 60–70% depending on program | Up to $2M on most programs | 740 |
How much cash can you take out?
Cash-out amounts vary by program. Some cap at $500,000 regardless of loan amount. Others allow unlimited cash-out at lower LTVs (60% or below).
Reserve requirements on cash-out refinances
Cash-out refinances require more post-closing reserves than purchases — typically 6 months for primary residence and up to 24 months for investment properties.
What can you use cash-out funds for?
- Home improvements and renovations
- Investment property purchases
- Debt consolidation
- Business investment
- Education expenses
Important restrictions
- Properties currently listed for sale are not eligible
- Texas cash-out refinances are ineligible on all jumbo programs
- Higher credit scores required for cash-out vs. purchase
- Fixed rate only on some programs for cash-out scenarios
California homeowners who purchased years ago have often built significant equity. A jumbo cash-out refinance can put that equity to work.
Serving California homebuyers and investors — Orange County, Los Angeles, San Diego, the Inland Empire, and communities throughout Southern California including Irvine, Huntington Beach, Anaheim, Fullerton, Garden Grove, and Santa Ana.