Additional Options for Refinancing Your Mortgage

If you plan to refinance with little or no down payment, or even if your home has gone down in value, you could qualify for other home refinance options.

Jumbo refinance loans

Loan amounts that stay within the limits set by the Government-Sponsored Enterprises (GSE) Fannie Mae or Freddie Mac are called conforming loans. Jumbo loan amounts are larger than those limits.

General conforming loans:

These are the general conforming loan amounts, but may be adjusted higher depending on the property location.

  • Single family home or residence - $453,100
  • 2-unit home (duplex) - $580,150
  • 3-unit home (triplex) - $701,250
  • 4-unit home (fourplex) - $871,450

Jumbo loans:

  • Often carry a higher interest rate and could mean paying significantly more interest over the loan term.
  • Sometimes require a larger down payment and lower loan-to-value (LTV) ratio than a conventional mortgage.

If you have any questions regarding a jumbo loan, or want to know if you qualify, call 1-800-248-4638 to speak with one of our mortgage representatives.

FHA refinance loans

An FHA loan is a mortgage insured by the Federal Housing Administration (FHA). This government-backed program offers fewer down payment and credit score restrictions than conventional mortgages. FHA loans are available as both fixed rate and adjustable rate mortgages.

FHA loans can be a good choice for:

  • First-time buyers
  • Buyers with less than a 20% down payment
  • Buyers with a low credit score
  • Self-employed buyers
  • Buyers with limited employment history

Interested in or have questions about FHA loans? Call 1-800-248-4638 to speak with a Citi mortgage representative.

VA home refinance loans

If you're a current or former member of the U.S. Armed Forces or a surviving spouse of a servicemember, you could qualify for a mortgage guaranteed by the Department of Veterans Affairs, or Veterans Affairs (VA) loan.

VA loans often have lower interest rates, closing costs and down payment requirements than conventional loans. Interested in or have questions about VA loans? Call 1-800-248-4638 to speak with a Citi mortgage representative.

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