Ogden - Salt Lake City Jumbo Low Down Payment Options

We get to the point for all your Ogden and Utah Mortgage Needs

Federal Housing Administration (FHA) Home Loans

We make it easy for people in Ogden, Salt Lake City and all across Utah to get the Jumbo Home Loan they need.

Financing a luxury home in Ogden, Salt Lake City or other areas in Utah typically means using a jumbo loan instead of a standard conforming home loan. Current conforming loan limits issued by Fannie Mae and Freddie Mac are limited to approx $550,000 in most counties in Utah. Salt Lake County is slightly higher at approx $600,000.

Mortgage amounts that exceed these limits are considered high balance in nature or “Jumbo”. In the past, most Jumbo lenders in Utah required 15% and sometimes 20% down payment for these higher mortgage amounts. Today there are some new competitive jumbo programs that don’t require such a large down payment.

Federal Housing Administration (FHA) Home Loans

Advantages of a low down payment for your Utah area Jumbo Home Loan.

There are a few advantages for Ogden, Salt Lake City and Utah area buyers to put little money down on their next home.

Waiting on current home to sell or close
Maybe it’s taken longer than anticipated to sell your current home or you have to move due to job relocation, etc.  The 5% and 10% down jumbo programs can provide an option to get into a new home with a minimum down payment.

Funds for home renovations
Most Utah home buyers agree that no home is 100% perfect and will require some updating or renovations. By conserving cash, you can save the rest of your money for needed updates, new furniture, etc.

Lack of funds due to lost equity
Even with the improvement of the Utah housing market in recent years, property values in some markets are still below their all-time highs so if you are making a lot less on the sale of your current home, this program can help you get into a new home now to take advantage of low-interest rates and home prices we see today.

Retaining savings for other investments
Check with your financial professional first but certain cases it makes sense to put less down and keep your money working for you in stocks, etc. Or maybe you want to start a new business in the near future, all things to consider.

  • 95% financing – loan amount limit is $2,000,000
  • 90% financing – loan amount limit is $3,000,000
  • Buyers are required to fully document all income and assets (like normal Conventional mortgages)
  • The property must be an owner-occupied home. However, there are other options for vacation homes, but these options could require a greater down payment.
  • Regular single-family homes, townhomes, and condos only. Lot loans, farms, large acreage or building on your own is not permitted.

What's Next?

Get in Touch

First time buyer or refinancing? Call for a free quote!

learn more

Apply Now

We shop for the best mortgage option at no charge to you.

learn more

Mortgage Calculators

Crunch the numbers and explore your mortgage options!

learn more

Fast purchase closings!

Cash out refinancing - Approvals in minutes - low down, high balance loans

Apply Today Call Today
users image

Hi, How can I help you?