Jumbo mortgage loans in Utah give homebuyers an easier way to finance larger home purchases in areas like Park City or Salt Lake County.
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Utah offers some of the most stunning vistas in the U.S. Whether you enjoy the mountains around Salt Lake City or the desert landscapes of Moab, there is some natural wonder for you to enjoy. Utah also offers a great quality of life, whether you prefer country living or a bit of culture.
Wherever you settle in Utah, real estate prices in Utah are on the rise. According to the Utah Association of Realtors, the median sales price of a home in Utah is $535,050. While that number is well below the jumbo loan limit in Utah, the state still has plenty of jumbo mortgage activity.
For the most recent year, the HDMA data places Utah 20th in the country in terms of mortgage origination activity, with a total of $7.47 billion in jumbo mortgages originated. If you’re looking for a jumbo mortgage in Utah, you’ll be among good company.
The jumbo loan limit in Utah for most counties is $726,200. For some counties, including Wasatch, the jumbo loan limit is as high as $1,089,300. Any loan that exceeds either $726,200 or $1,089,300 is a jumbo loan, depending on the county.
| Utah County | Utah Jumbo loan (1-unit) | Utah Conforming loan limit (1-unit) | Utah FHA loan limit (1-unit) |
|---|---|---|---|
| Beaver | $726,200+ | $726,200 | $420,680 |
| Box Elder | $744,050+ | $744,050 | $646,300 |
| Cache | $726,200+ | $726,200 | $420,680 |
| Carbon | $726,200+ | $726,200 | $420,680 |
| Daggett | $726,200+ | $726,200 | $420,680 |
| Davis | $744,050+ | $744,050 | $646,300 |
| Duchesne | $726,200+ | $726,200 | $420,680 |
| Emery | $726,200+ | $726,200 | $420,680 |
| Garfield | $726,200+ | $726,200 | $420,680 |
| Grand | $726,200+ | $726,200 | $420,680 |
| Iron | $726,200+ | $726,200 | $420,680 |
| Juab | $726,200+ | $726,200 | $401,350 |
| Kane | $726,200+ | $726,200 | $420,680 |
| Millard | $726,200+ | $726,200 | $420,680 |
| Morgan | $744,050+ | $744,050 | $646,300 |
| Piute | $726,200+ | $726,200 | $3,731,760 |
| Rich | $726,200+ | $726,200 | $374,900 |
| Salt Lake | $726,200+ | $726,200 | $416,300 |
| San Juan | $726,200+ | $726,200 | $420,680 |
| Sanpete | $726,200+ | $726,200 | $420,680 |
| Sevier | $726,200+ | $726,200 | $420,680 |
| Summit | $1,089,300+ | $1,089,300 | $817,650 |
| Tooele | $726,200+ | $726,200 | $416,300 |
| Uintah | $726,200+ | $726,200 | $420,680 |
| Utah | $726,200+ | $726,200 | $401,350 |
| Wasatch | $1,089,300+ | $1,089,300 | $817,650 |
| Washington | $726,200+ | $726,200 | $377,200 |
| Wayne | $726,200+ | $726,200 | $420,680 |
| Weber | $744,050+ | $744,050 | $646,300 |
If you’re ready to learn more about the best jumbo mortgage lenders in Utah, here are the top options we’ve found through our research.
Flagstar Bank has a jumbo product in all 50 states, making it a popular choice among many people looking for higher mortgage amounts. If you’re considering a jumbo mortgage, you’ll want to compare Flagstar’s rates as part of your analysis.
We reached out to a loan officer at Flagstar Bank to get details on their jumbo mortgage. Here are the highlights:
When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.
SoFi is a financial institution based in California that specializes in student loan refinance options, PLUS loans and flexible repayment terms. You might not know that they also offer jumbo loan mortgages.
We spoke to a loan officer at SoFi to discuss their jumbo loan terms and this is what we learned:
When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.
Huntington Bank is the 26th largest bank in the United States. Operating primarily out of the Midwest, their mortgage group can service a large part of the country. Huntington has a competitive jumbo loan product with no money down financing options.
We contacted a loan officer at Huntington Bank to gather information about the jumbo mortgage and here’s what we heard back:
When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.
Keybank has over $170 billion in assets and is the 24th largest bank in the United States. They operate throughout 39 states but can originate mortgages in nearly all 50, making them a popular choice among borrowers throughout the country. One of their key financial products is a jumbo mortgage loan.
We contacted Keybank to learn more about their jumbo loan mortgage rates and here are the key terms and highlights:
When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.
So many Utahans are turning to jumbo loans because of the range of benefits they get with this type of “non-conforming” financing. What are those benefits? They include:
An additional benefit is that you can finance a large home purchase under a single loan. Rather than patch together several conventional mortgages, many Utahans are turning to jumbos as a more convenient and streamlined alternative.
If you’re looking to buy a home in Utah, it is important to understand what kind of mortgage you qualify for and the kind of mortgage that will work best for your situation. Utah requires all mortgage loans to be secured by a first-lien or subordinate lien with no Utah mortgage guarantees.
The most common type of loan in Utah is the 30-year fixed-rate mortgage, which typically offers a lower monthly payment than a 15-year fixed-rate but has less flexibility. However, if you are looking for a large property or home, you should consider the benefits and the risks of getting a jumbo loan in Utah.
Keep in mind that conforming limits are set by the Federal Housing Finance Agency (FHFA), which oversees Fannie Mae and Freddie Mac, the two government-sponsored home loan companies that buy most of the home mortgages made in the U.S. from lenders and resell them to private investors.
If you want to find the best jumbo loans in other states, click on your state below.
Joshua Holt is a licensed mortgage loan originator (NMLS #2306824) and founder of Biglaw Investor. His mortgage expertise lies in the areas of professional mortgage loans, particularly for lawyers, doctors and other high-income professionals. Prior to Biglaw Investor, Josh practiced private equity mergers & acquisition law for one of the largest law firms in the country.
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