Jumbo Loans

Financing for Utah's premium and high-value properties

What Is a Jumbo Loan?

A jumbo loan is a mortgage that exceeds the conforming loan limits set by Fannie Mae and Freddie Mac. For most Utah counties in 2024, that limit is $766,550. Properties in Summit County (Park City) have a higher limit of $1,149,825 before jumbo treatment applies.

Above Conforming Limits

Finance properties exceeding the $766,550 2024 Utah conforming limit — up to $3M+

Competitive Rates

Jumbo rates are now often at parity with or below conventional — the spread has narrowed significantly

Utah High-Value Markets

Specialists in Park City, Draper, Holladay, Cottonwood Heights, and other premium corridors

Flexible Structures

Fixed and ARM options; interest-only available for qualified buyers; portfolio lending options

Jumbo Loan Requirements

Credit Score

• Typically 700+ required; 720+ for best terms
• No government guarantee — lenders set their own overlays

Down Payment

• Typically 10–20% depending on loan size
• Some portfolio lenders offer 5–10% with reserves
• 80% LTV preferred to avoid jumbo PMI

Reserves

• 6–18 months PITI in liquid or near-liquid assets
• Retirement accounts often count at 60–70%
• Business assets may qualify with 2-year CPA letter

Utah High-Value Corridors

• Park City / Deer Valley / Jordanelle
• Draper, South Jordan, Holladay
• Cottonwood Heights, Little Cottonwood Canyon area
• Emigration Canyon, Millcreek hillsides

Jumbo vs. Conforming: Key Differences

Jumbo Considerations

• Stricter credit and reserve requirements
• Larger down payment typically expected
• Not sold to Fannie/Freddie — held in portfolio
• Full income documentation required

When Jumbo Makes Sense

• Purchase price exceeds $766,550 (most Utah counties)
• Strong credit profile and documented reserves
• Rates competitive with or below conforming in current market
• Preferred over two-loan (piggyback) structures

Discuss Your Jumbo Purchase

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