Loans are just a borrowing of money. If you take out a loan, guess what? You have to eventually pay it back. If you don’t, you could be facing legal trouble and then it’ll end up hurting your credit score and then don’t think any other lending company will even consider giving you a loan or a mortgage ever again. You can also do a Jumbo loan refinance where you just take out a huge loan excessing $417,000 in order to refinance your house and then watch its worth rise. When you refinance, you will get some extra money and it gives your house a potential rise in the worth.
Getting a jumbo loan is hard and difficult. If you wanto get insurance from it, that’s even harder because not many insurance companies will want to give you an insurance policy since it’s so risky. Even some government funded agencies will deny that so if you really need a jumbo loan, make sure you can pay it back without the help of any insurance because there are only a few that will be able to help you. Good luck now.