Buying a house with a jumbo loan?

[FrugalSaver]

Through some fortunate 1031 exhange opportunities I am acquiring a house that, after I put 20-% down etc, I'll have a loan for $449,000.

This pushes me into the jumbo (> $429,000) which comes with a higher interest rate.

I could easily have this loan amount below the $429,000 mark in a few months. 

What are my options for reducing the interest rate?

Can they do two loans?

Do I pay a few grand to refi once I get the lease n below $429,000? 

The note is about 4.75%

[Urchina]

Not a mortgage broker here, so I'm probably not your best source of information but:
1. Can you put down $20k more and drop below the jumbo threshold?
2. You might see about doing two mortgages, one at the max limit that keeps you below jumbo, and another smaller one, then pay off the smaller one.
3. Pay down the loan, then look for a cheap refi.

I'm sure there's more options....

[dragoncar]

A jumbo isn't always more expensive.  My bank told me they happened to be looking for jumbos so the rate was lower.