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Jumbo Loan

Shopping for an expensive home or searching in a hot real estate market? A jumbo loan might be the answer.

What is a jumbo loan?

If you’re shopping for an expensive home or searching in a hot real estate market, you may find that the amount you need to borrow exceeds the loan limits for traditional loans.

Your best option could be a jumbo loan, which allows you to borrow a larger sum of money for a property than a conforming loan. A conforming loan is a mortgage that “conforms” to Fannie Mae and Freddie Mac requirements regarding credit, debt and loan size.

Jumbo mortgages and conforming home loans have many similarities, but there are some key differences to be aware of, including the amount of down payment, cash reserves and credit score you’ll need to qualify.

   Larger borrowed amount

   Competitive down payment options

   Loan flexability

Conforming vs Non-Conforming

Conventional mortgages fall into two categories: 'conforming' and 'non-conforming' loans. Conforming loans follow the guidelines set by Fannie Mae and Freddie Mac, two government-controlled companies that provide money for the U.S. housing market. The most well-known rule has to do with the size of the loan. In 2018, home loans for single-family homes in most of the continental U.S. are limited to $453,100 for Conventional Loans.

Conventional & High Balance

For more information on non-conforming loans check out our Conventional & High Balance Products.

Or, if you're looking to purchase in Carbon, Davis, Tooele or Weber counties, check out our exclusive Conventional High Balance.

CountyGSE 1-unit limit FHA 1-unit limit
Beaver$453,100 $294,515
Box Elder$453,100$389,850
Cache$453,100$294,515
Carbon$453,100$294,515
Daggett$453,100$302,450
Davis$453,100$389,850
Duchesne$453,100 $294,515
Emery$453,100 $294,515
Garfield$453,100 $294,515
Grand$453,100 $294,515
Iron$453,100 $294,515
Juab$453,100 $341,550
Kane$453,100$294,515
Millard$453,100$294,515
Morgan$453,100$389,850
Piute$453,100 $294,515
Rich$453,100$296,700
Salt Lake$600,300 $356,500
San Juan$453,100 $294,515
Sanpete$453,100 $294,515
Sevier$453,100 $294,515
Summit $679,650 $679,650
Tooele$600,300 $356,500
Uintah$453,100 $294,515
Utah$453,100 $341,550
Wasatch$453,100$428,950
Washington$453,100 $323,150
Wayne $453,100$294,515
Weber$453,100 $389,850