Want extra room for a growing family, a larger yard, nicer upgrades, or an extra garage to store your off-road toys? If you do, you might be looking at a property that costs more than the limits set out by the federal government.
In most areas of Utah, the limit for a Fannie Mae and Freddie Mac conforming loan is $806,500. For properties asking more than that, you’re looking at a jumbo loan with slightly different lending and underwriting rules.
These differences typically include:
If you’re looking at higher-priced properties, it pays to work with a local lender like Wasatch Peaks. We offer decades of experience and in-depth knowledge of local communities, as well as better rates and more flexible terms than many other mortgage lenders.
Ready to go a little bigger on your homeowning dreams? Click below to get started!
A Jumbo Loan is any mortgage loan that exceeds the local limit for conventional mortgages, currently $806,500. A Jumbo Mortgage Loan generally takes longer to close, as it has to go through two underwriting processes. In some cases, it might also require two separate appraisals.
At Wasatch Peaks, we offer Jumbo Loans with:
Have your eye on a larger property or a more desirable neighborhood? Wasatch Peaks is your home for jumbo loans in Utah. Talk to us about how we can help you step up, or click below to get started.
