Adjustable loans are another possibility while choosing a Jumbo loan. Adjustable jumbo start off as a fixed rate loan and then become an adjustable rate loan after a certain amount of time. Adjustable loans will start off as fixed loans for either 6 months, 12 months, 2, 3, 5, 7 or 10 years, then turn into an adjustable loan. These jumbo loans will have a fixed rate period then they become an adjustable rate mortgage.  

 The reason that there are different time periods before the jumbo loan becomes an adjustable loan is because they depend on the length of the loan (either 15 or 30 years) and then the amount of the loan (any amount over $417,000.)

Adjustable jumbo loans are an excellent way to keep your monthly Payments low if you intend on keeping the home for a short period of time or if you intend of refinancing in the future.