Jumbo Mortgage Loans

What is a JUMBO LOAN?

Jumbo Loans

Jumbo mortgages are loans that exceed the conforming loan limits set by the Office of Federal Housing Enterprise Oversight (OFHEO) and are not eligible to be purchased, securitized, or guaranteed by Fannie Mae or Freddie Mac.

A Utah jumbo loan is for mortgages more than $453,100, typically. There are circumstances where you can avoid a jumbo loan with a loan amount up to 625,500. You can select a conventional fixed-rate or adjustable rate mortgage (ARM), and there are no prepayment penalties. Talking to a licensed Utah mortgage broker can help you identify the best loan type for your situation as each program maintains its own unique rules.
 


What are the Jumbo Loan Down Payment Requirements?

Down payment requirements vary significantly with jumbo loans and will range between a minimum down payment of 5% to 20% depending on the size of the loan and other qualifying factors.
 

What Types of Properties are Eligible?

Most jumbo loan programs allow you to finance single-family detached properties, condominiums and planned unit developments (PUDs).

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As a mortgage broker in Utah, we work with several mortgage lenders, enabling us to offer you a variety of Utah mortgages and refinance home loans at the best mortgage rates and lowest fees available. Working with several lenders allows us to offer more home loan options to help you achieve your goals. Whether you're buying a home or refinancing, Advanced Funding is here to help. Our mortgage loan officers are available to help you during regular business hours or a time that is more suitable to your needs. Call today for more information, 801-272-0600.

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As one of the most trusted and respected mortgage companies in Utah, Advanced Funding Home Mortgage Loans offers a variety of purchase mortgage and refinance products. Our licensed mortgage brokers are both knowledgeable and experienced to ensure you a pleasant home loan experience at the best interest rates available. We combine the use of technology, impeccable service, a dynamic management team, along with a well-trained, and experienced staff to produce results, such as great mortgage rates, low fees, and most importantly, a fast and pleasant loan experience.

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6589 South 1300 East, Suite 200
Salt Lake City, UT 84121

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