Finance
A jumbo loan in Utah is a mortgage that:
AIs guaranteed by a government agency
BExceeds the conforming loan limits set by FHFA and cannot be purchased by Fannie Mae or Freddie Mac✓ Correct
CHas a term longer than 30 years
DIs used exclusively for commercial properties
Explanation
A jumbo loan exceeds the FHFA conforming loan limits. Because Fannie Mae and Freddie Mac cannot purchase these loans, they are held on the lender's books or sold in private markets. Jumbo loans often require larger down payments and higher credit scores.
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