The rate on a conforming jumbo cash out is 4.375% for a 30 year fixed. It's expensive to do it that way. Here are the numbers.
If you have a loan of 443k at 4.375% your P&I will be $2212 a month.
If you have a loan of 417k at #.625% your P&I will be $1902 a month.
Savings of $310 a month. So yes if your credit score is high enough you can do what you want. I have some different ideas on how to have your cake and eat it also. If you're interested please give me a call.
Senior Loan Officer
1ST Mariner Mortgage
Lending in all 50 states