Jumbo Mortgage Lawyer In Seattle
Last updated on June 9, 2025
Divorces become more complicated when a high-value property, such as a luxury home, is involved during asset division in a divorce. Since these cases involve large sums and unique loan terms, collaborating with a skilled attorney is essential.
V. Freitas Law, PLLC, understands the unique challenges that come with dividing high net worth assets. With over 50 years of combined experience, our seasoned lawyers have helped numerous clients in Seattle, Washington, resolve complex financial issues, including refinancing, appraisal disputes and mortgage assumptions during divorce.
What Is A Jumbo Mortgage?
A jumbo mortgage is a home loan that exceeds conforming loan limits set by the Federal Housing Finance Agency. In Seattle, this means any loan over $977,500 (as of 2025) is considered a jumbo loan. These loans are used for high-value property purchases and often come with stricter credit and income requirements.
Unlike conventional mortgages, jumbo mortgages cannot be sold to Fannie Mae or Freddie Mac. This leads to higher interest rates, tougher approval requirements and fewer options for mortgage assumption or refinancing without a comprehensive financial review.
How Are Jumbo Mortgages Divided In A Seattle Divorce?
Some common options include:
- Refinancing the loan in one spouse’s name. This may be challenging if only one party qualifies.
- Selling the home and dividing the profits as part of the divorce settlement.
- One spouse may buy out the other’s share, often using a quitclaim deed.
Sometimes, the mortgage is “offset” using other assets, such as retirement accounts or investment portfolios, to balance the division.
Common Challenges And Solutions For Jumbo Mortgages
Challenges often arise with underwater mortgages. This is when the home’s value is less than what is owed. In such cases, selling without incurring a loss may be impossible. If one spouse cannot qualify for a refinance, the loan may remain in both names, which can complicate financial freedom.
Attorney Veronica Freitas can help clients consider creative solutions, like negotiating a delayed property division or offsetting the mortgage with other assets.
Call Us
Facing a divorce involving a high-value property and a jumbo mortgage in Seattle? V. Freitas Law, PLLC, can help. Call us at 206-536-2875 or fill out the online form today.