Jumbo Loans in Utah

Q: Are jumbo loan rates higher than conventional rates?

Historically, jumbo mortgage rates were noticeably higher. Today, the gap has narrowed significantly and jumbo rates in Utah are often very competitive — sometimes only a fraction of a percent above conforming rates.

Q: Can I use a jumbo loan for a second home or investment property?

Yes. Jumbo loans in Utah are available for primary residences, second homes, and investment properties. Non-owner-occupied properties typically require a larger down payment and may have slightly higher rates.

Financing for homes that exceed conventional loan limits. Get competitive rates and flexible terms on high-balance mortgages — backed by a team that knows Utah's luxury market.

What Is a Jumbo Loan?

A jumbo loan in Utah is a mortgage that exceeds the conforming loan limits set by the Federal Housing Finance Agency (FHFA). For 2025, that limit is $766,550 in most Utah counties. When your purchase price minus your down payment exceeds that threshold, you'll need a jumbo mortgage to finance the home.

Unlike conventional conforming loans, jumbo loans in Utah are not backed by Fannie Mae or Freddie Mac. Because the lender assumes more risk, qualification requirements are stricter — but jumbo mortgage rates in Utah remain highly competitive for well-qualified borrowers.

When You Need a Jumbo Loan

Utah's real estate market includes premium neighborhoods and luxury communities where home prices regularly exceed conforming limits. Common scenarios include:

Luxury Homes in Park City, Draper & Alpine

Utah's most sought-after communities frequently list homes well above the conforming limit.

Large Lots & Custom Builds

Acreage properties and custom-built homes often require financing beyond standard limits.

Upgrading to Premium Neighborhoods

Moving up to an executive-level home in top school districts or gated communities.

Investment Properties Above Conforming Limits

High-value rental or vacation properties that exceed conventional loan thresholds.

Benefits of a Jumbo Loan

Finance Larger Purchases

Borrow above conforming limits to purchase the home you truly want.

Competitive Rates

Jumbo rates are often on par with — or very close to — conforming loan rates.

Flexible Terms

Choose from 15-year, 20-year, or 30-year terms to match your financial goals.

Fixed & Adjustable Available

Lock in a fixed rate for stability or opt for an ARM to take advantage of lower initial rates.

No MI with 20%+ Down

Put 20% or more down and skip private mortgage insurance entirely.

Multiple Property Types

Eligible for primary residences, second homes, and investment properties.

Qualification Requirements

Because jumbo loans are not government-backed, lenders typically require stronger borrower qualifications. Here's what to expect:

Credit score of 700 or higher (some programs allow 680)

Down payment of 10–20% depending on loan amount and property type

Debt-to-income ratio (DTI) under 43%

Extensive income and asset documentation

6–12 months of cash reserves after closing

Full appraisal required — a second appraisal may be needed for higher loan amounts

Jumbo vs. Conventional Comparison

Feature	Jumbo	Conventional
Loan Limit	Above $766,550	Up to $766,550
Down Payment	10–20% typical	As low as 3%
Credit Score	700+ typical	620+
Mortgage Insurance	None with 20% down	Required under 20% down
Backed By	Private lenders	Fannie Mae / Freddie Mac
Rates	Competitive; slightly higher	Typically lowest available

Explore Related Loan Options

Not sure if a jumbo loan in Utah is the right fit? Explore these related programs:

Home Purchase Loans Mortgage Calculator

Frequently Asked Questions

What is the jumbo loan limit in Utah?

For 2025, the conforming loan limit in most Utah counties is $766,550. Any mortgage amount above that threshold is considered a jumbo loan. Some high-cost areas may have slightly different limits — contact us to confirm the limit for your specific county.

Can I get a jumbo loan with less than 20% down?

Yes. While 20% down is the standard for avoiding mortgage insurance, some jumbo programs allow as little as 10% down. A larger down payment typically results in better rates and terms, but options do exist for qualified borrowers who want to put less down.

Are jumbo loan rates higher than conventional rates?

Historically, jumbo rates were noticeably higher. Today, the gap has narrowed significantly and jumbo rates are often very competitive — sometimes only a fraction of a percent above conforming rates. Your specific rate depends on credit score, down payment, and overall financial profile.

Can I use a jumbo loan for a second home or investment property?

Yes. Jumbo loans are available for primary residences, second homes, and investment properties. Keep in mind that non-owner-occupied properties typically require a larger down payment and may have slightly higher rates.

Can I refinance an existing jumbo loan?

Absolutely. You can refinance a jumbo loan to lower your rate, change your term, or access equity through a cash-out refinance. The qualification process is similar to the original loan — strong credit, sufficient reserves, and a current appraisal are typically required.

Exploring Jumbo Financing?

Let us help you navigate the jumbo loan process with personalized guidance and competitive rates tailored to your goals.

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(801) 820-7620