Two separate questions here, and the appraisal matters for both. First, value always matters, because every program caps the loan at a percentage of appraised value: - Conventional and FHA cash-out top out at 80 percent of value. Conventional's 80 applies to a single-unit primary residence; 2-4 units, second homes, and investment properties sit lower. - VA cash-out can reach 100 percent of value under VA's rules, with the funding fee included inside that cap, though many lenders cap it lower. - Some non-QM and portfolio programs stretch to roughly 90 percent. Whether an $880,000 loan is even reachable depends on what the home appraises for and which program you use, so confirm the current loan-to-value limits for yours. Second, jumbo versus conforming comes down to the county, not just the dollar figure. Conforming limits reset annually and run far higher in designated high-cost areas like coastal California, the Bay Area, and parts of Washington. The same $880,000 can be conforming in a high-cost county and jumbo one county over. Check the current conforming limit for the specific county before assuming the loan is jumbo, because that single fact changes the products and pricing available to you.