Jumbo Loans

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• A jumbo mortgage is generally used when the loan amount exceeds the applicable conforming loan limit established for conventional mortgages eligible for purchase by Fannie Mae and Freddie Mac.
• For borrowers purchasing higher-priced homes, jumbo financing can provide access to loan amounts beyond standard conforming limits.

• Because jumbo loans fall outside standard conforming loan limits, underwriting requirements can differ significantly between lenders and loan programs.
• Lenders may place greater emphasis on a borrower's credit profile, income, assets, reserves and overall financial strength.

Higher Loan Amounts

• Designed for financing needs beyond applicable conforming loan limits.

Competitive Options for Qualified Borrowers

• Qualified borrowers may have access to a variety of jumbo mortgage structures.

Flexible Property Opportunities

• Depending on the program, jumbo financing may be available for different eligible property and occupancy types.

More Detailed Underwriting

• Documentation, reserve, credit and down-payment requirements may be more substantial than with standard conforming loans.

Jumbo financing may be appropriate for buyers purchasing higher-priced Utah properties, borrowers whose required loan amount exceeds the applicable conforming limit, or financially qualified borrowers who prefer financing rather than making a substantially larger cash contribution toward a purchase.

What makes a mortgage “jumbo”?

• Generally, it's a mortgage amount above the applicable conforming loan limit for the property and location.

Do jumbo loans always require 20% down?

• Not necessarily. Requirements vary significantly by lender, program and borrower profile.

Are jumbo interest rates always higher?

• Not necessarily. Pricing depends on market conditions and the individual loan scenario.

Let us help you explore jumbo mortgage options designed around your purchase and financial profile.