Jumbo Loans
Higher Loan Limits
Finance homes that exceed conforming limits, opening the door to more expensive properties.
Flexible Loan Terms
Available in both fixed and adjustable-rate options, with repayment terms structured to fit your needs.
Competitive
Rates
Well-qualified borrowers can secure interest rates that are often comparable to conforming loans.
Property
Versatility
Can be used for primary residences, vacation homes, or investment properties.
What Is a Jumbo Loan?
A jumbo loan, also known as a non-conforming conventional loan, is a mortgage that exceeds the maximum loan amount set by the Federal Housing Finance Agency (FHFA). Because these loans are larger than traditional conforming loans, they don’t qualify for purchase by Fannie Mae or Freddie Mac. Instead, they’re offered directly by lenders who set their own terms and requirements.
Why Homebuyers Choose Jumbo Loans
Jumbo loans are designed for borrowers purchasing luxury properties, high-value homes, or real estate in competitive housing markets where prices exceed conforming loan limits. These loans provide the financing needed for larger purchases while still offering many of the benefits of conventional mortgages.
Who Qualifies for a Jumbo Loan?
Because of their size, jumbo loans have stricter qualification requirements than traditional mortgages. Borrowers typically need:
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A strong credit score (often 700+).
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A larger down payment, usually 10%–20% or more.
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A low debt-to-income (DTI) ratio.
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Significant financial reserves to show repayment ability.
Meeting these requirements demonstrates to lenders that you can responsibly manage a high-value mortgage.
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Who Qualifies for a Conventional Loan?
To qualify, borrowers typically need:
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A credit score of at least 620.
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Stable employment and verifiable income.
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A reasonable debt-to-income (DTI) ratio.
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A down payment (as low as 3%, though 20% avoids PMI).
Lenders may also look at financial reserves and your history of responsible credit use.
FAQ
What is a conventional loan?
A mortgage not backed by a government agency, offered through private lenders, and typically following Fannie Mae and Freddie Mac guidelines.
How is a conventional loan different from an FHA loan?
FHA loans are insured by the government and allow lower credit and smaller down payments, but require mortgage insurance. Conventional loans generally require stronger credit but can be more cost-effective in the long run.
Who qualifies for a conventional loan?
Borrowers usually need a 620+ credit score, stable income, and a reasonable debt-to-income ratio. Larger down payments can improve terms.
How much do I need for a down payment?
Conventional loans start at 3%–5% down, but putting 20% down avoids PMI and may lower your monthly payment.
Can I use a conventional loan for a second home or investment?
Yes — unlike some loan types, conventional mortgages can be used for vacation properties and investment homes.
Ready to Explore Your Options?
With more than 17 years of mortgage experience, we’ve helped Utah buyers secure jumbo loans for luxury homes, investment properties, and high-value real estate. Our team will guide you through the stricter requirements, match you with the right lender, and ensure your loan is structured to fit your long-term financial goals.
Ready to finance your dream home? Let’s find the jumbo loan solution that works for you.