Questions about how jumbo loans work and how to refinance

[Freeman Schultz]

I have been researching jumbo loans and I understand how they generally work. But they raise some quesitons.

1. When does the lender contact the mortgagor regarding the principal? A year before the maturity date or the month when the principal is due?

2. How early does a mortgagor usually begin the refinancing process before the maturation date?

[Zack Karp]

@Freeman Schultz I believe you are confusing a balloon with a jumbo.  As balloon is where you have a longer amortization but a shorter term.  Like a 5 year term but the payment is based on a 30 year loan.  A jumbo loan just designates the loan amount size, and it can be fully amortized like a 30 year fixed or it can have a balloon.

So if you are in fact asking about a balloon, you have to contact your loan servicer to find out when it comes due and/or your refi options, because these are not standard from lender to lender, and can vary per the loan product you used.