The Basics
What is a Jumbo Loan?
A jumbo loan is a mortgage that exceeds the conforming loan limits set by the Federal Housing Finance Agency (FHFA). For 2026, the baseline conforming limit is $806,500 in most counties, with limits up to $1,209,750 in high-cost areas. Any loan above your county's limit is considered a jumbo loan and requires separate underwriting — but that doesn't mean it's out of reach.
Utah Example: In most Utah counties the 2026 conforming limit is $806,500. If you're buying a $950,000 home with 10% down, your loan amount is $855,000 — that puts you in jumbo territory. Curtis can help you navigate the options and find the most competitive rate available.
What You'll Need
Jumbo Loan Requirements
Jumbo loans have stricter requirements than conventional mortgages — but for buyers with strong credit, solid income, and good reserves, they're very achievable. Here's what lenders typically look for:
Credit Score
Down Payment
Cash Reserves
Other Requirements
Loan Tiers
Jumbo financing at every level
Requirements vary based on loan size. The larger the loan, the more a lender wants to see in terms of credit, reserves, and down payment. Here's a general breakdown:
Standard Jumbo — $806K to $1.5M
Most CommonCredit Score: 700+
Best rates at 740+ — 680 may qualify with compensating factors
Down Payment: 10–20%
10% possible for well-qualified buyers; 20% eliminates PMI
Cash Reserves: 6–12 Months
Lender wants to see you can cover payments if income changes
DTI: 43% or Below
Some flexibility for strong credit profiles
Super Jumbo — $1.5M to $3M
Higher RequirementsCredit Score: 720–740+
Stronger credit profile required at this loan size
Down Payment: 20–25%
Most lenders require 20% minimum; some want more
Cash Reserves: 12+ Months
Significant reserves required — retirement accounts often count
Additional Documentation
More detailed income verification and financial review
Ultra Jumbo — $3M+
Private Lender ProgramsCredit Score: 740+
Strong credit profile essential at this level
Down Payment: 25–30%
Larger down payment typically required
Cash Reserves: 18+ Months
Substantial reserves and net worth verification
Specialty Programs Available
Asset depletion, pledged asset, and private banking options
Who Uses Jumbo Loans
Jumbo buyers in Utah
A note on jumbo loan rates
In 2026, jumbo loan rates are often comparable to or even slightly lower than conventional conforming rates for well-qualified borrowers. Because jumbo loans are held by lenders rather than sold to Fannie Mae or Freddie Mac, lenders compete aggressively for high-quality borrowers. A strong credit profile, solid reserves, and a good down payment can result in very competitive pricing.
Ready to explore your jumbo options?
Curtis will compare rates and programs across multiple jumbo lenders to find the best fit for your Utah home purchase — from standard jumbo to super jumbo and everything in between.
Curtis Christensen
Curtis works with Utah buyers purchasing higher-value homes across Salt Lake City, Park City, St. George, and beyond. He'll shop multiple jumbo lenders on your behalf to find the most competitive rate and terms for your situation.
💬 Ask Curtis About Jumbo Financing
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