High Balance

Large-Scale Loan Solutions

Key Features

Low down payment.

Minimum 3.5% down payment

Low down payment.

Just 3.5% down payment

Low down payment.

Just 3.5% down payment

Requirements

620

Credit Score

High balance loans require a credit score of at least 620. We have alternatives available if you're not quite there yet.

3%

Down Payment

The minimum down payment is based on several factors, including loan type, credit score, and debt-to-income (DTI) ratio.

45%

Debt-to-Income Ratio

Your total monthly debt, including the new mortgage, should not exceed 45% of your gross monthly income. Exceptions can be made for borrowers with strong compensating factors.

Additional Requirements

Loan Limits

For a conforming conventional loan, your loan must fall within the loan limits set by Fannie Mae and Freddie Mac. For {currentYear}, the conforming loan limit for a single-family home is {conformingLoanLimits}. There are exceptions, however. Alaska, Hawaii, and other high-cost areas of the country have higher loan limits, ranging up to $1,089,300.

PMI

If you put down less than 20% on a conventional loan, you’ll be required to pay for private mortgage insurance (PMI). PMI protects mortgage investors in case of a loan default. The cost for PMI varies based on your loan type, your credit score, and the size of your down payment.

For a complete list of requirements, please contact one of our loan experts. Loan requirements are subject to change. All information contained herein is for informational purposes only and while every effort has been made to unsure accuracy, no guarantee is expressed or implied. This is not an offer to extend credit or a commitment to lend.

¹Lower credit scores may require a higher down payment.

© 2024 Utah Mortgage, Inc. All rights reserved. 1525 North Main Street, Ste 100, Bountiful, Utah, 84010. NMLS #1432672  www.NMLSConsumerAccess.org. Equal Housing Lender. Licensed in 9 states. CA License No. 60DBO-146053, CO License No. 1525 North Main Street, Ste 100 Bountiful, UT 84010, NV License No. 500 North Rainbow Blvd, Ste 300, Las Vegas, NV 89107, License #4994, TX: 1525 North Main Street, Ste 100 Bountiful, UT 84010, WA: Consumer Loan Company License #1432672. If your state is not listed, it doesn’t require a specific license disclosure. For additional information visit our disclosure & licenses page.Any example scenarios are for informational purposes only, and while every effort has been made to insure accuracy, no guarantee is expressed or implied. Loans are subject to borrower and property qualifications. Contact any loan officer on the site, or the company directly for an accurate, personalized quote. Interest rates and any program guidelines are subject to change without notice. In addition, Utah Mortgage, Inc. complies with Section 8 of RESPA and does not offer marketing services in exchange for referrals.Any wholesale logos displayed are trademarks of their respective companies.