Jumbo loans are mortgages that exceed the conventional loan limits listed in the conventional loan page. There is no monthly or upfront mortgage insurance on jumbo loans. Jumbo loan interest rates are higher than the interest rates of the other types of loans because they have no insurance to protect the lender in case of default. The higher the LTV on a jumbo mortgage, the higher the interest rate. Most lenders offer a maximum of 90% LTV for their jumbo mortgages in Utah. Rates on jumbo loans are lowest if you borrow less than 80% of the value of the home, with the most competitive rates on loans that are 60% or less of the value of the home. Most jumbo loans require a minimum down payment of 10% and typically have more strict debt-to-income limits than a conventional loan. If you are in need of a jumbo loan to purchase or refinance your dream home in Utah, call us and we’ll be happy to shop our network of wholesale lenders and provide you a custom quote for your situation.