How a Jumbo Loan Can Benefit You

Just because you’re in a higher income range doesn’t mean you aren’t potentially in need of a mortgage loan, and for folks in these higher brackets, jumbo loans are often the top option. Designed for purchases ranging between $600,300 and $3,000,000, we at City Creek Mortgage have jumbo loans to fit your needs.

How can jumbo loans benefit you beyond just the larger amounts they allow? Let’s take a look.


For conventional loan situations, each state or locality has loan restrictions called the “conforming loan limit.” This is the highest amount a borrower can receive on a single standard loan, and it generally ranges between $400,000 and $650,000 in most cases.

Jumbo loans, however, are not subject to the conforming loan limit. Borrowers can well exceed these limits, though this comes with a couple basic concessions: Mortgage rates are higher due to more risk being assumed, and you’ll often need a higher credit score and lower outstanding debt than with traditional loans. But in these cases, getting the best possible mortgage rate is secondary to simply getting the loan amount you need.

Amount and Type

As we noted above, we offer jumbo loans ranging up to $3,000,000. They’re available in both fixed-rate or adjustable-rate formats, with no prepayment penalties attached whatsoever. Jumbo loan programs often reach up to 80 percent of home value, or even higher in many cases. Instead of being forced to secure multiple loans, you can get a single, no-hassle mortgage.


Many jumbo loans come without private mortgage insurance requirements, which can be a large expense for many people. Income qualifications are flexible, and rates can often begin as low as 4 percent. In addition, there are no county or location restrictions on these programs.

Want to learn more about jumbo loans, or any of our other mortgage solutions? Speak to the experts at City Creek Mortgage today.

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