Loading
in Pomona, CA
Pomona sits in an interesting spot for loan sizing. Most homes here fall under conforming limits, making conventional loans the default choice.
But if you're eyeing higher-end properties in North Pomona or Phillips Ranch, you'll cross into jumbo territory. The loan you pick changes your rate, down payment, and approval odds.
The 2025 conforming limit in Los Angeles County is $806,500 for a single-family home. Anything above that requires a jumbo loan with stricter underwriting.
Conventional loans work for any purchase up to $806,500 in Pomona. You can put down as little as 3% if you're a first-time buyer, or 5% if you've owned before.
Credit requirements start at 620, though you'll get better pricing at 740+. PMI applies when you put down less than 20%, but it drops off once you hit 78% loan-to-value.
These loans follow Fannie Mae and Freddie Mac guidelines. That means predictable underwriting and access to the best rates most lenders offer.
Jumbo loans kick in above $806,500 in Los Angeles County. These aren't government-backed, so lenders set their own rules and price for the added risk.
Expect to put down 10-20% minimum. Most lenders want 700+ credit, though some go to 680 with compensating factors like high income or reserves.
You'll need 6-12 months of reserves after closing. That's cash or investments equal to your mortgage payments, sitting in the bank to prove stability.
Rates on jumbos used to run higher than conventional. Now they often match or beat conforming rates because of portfolio lending competition.
Down payment splits these loans hardest. Conventional lets you start at 3%. Jumbo requires 10% minimum, often 15-20% for the best pricing.
Credit standards tighten with jumbos. A 680 score works for conventional loans. Jumbo lenders want 700+, and some won't go below 720 without pricing hits.
Reserves matter more on jumbo loans. Conventional loans rarely ask for reserves unless your credit is marginal. Jumbos require proof you can cover 6-12 months of payments after closing.
Rates vary by borrower profile and market conditions, but jumbo rates now compete directly with conventional pricing. Strong borrowers often see identical or better rates on jumbo loans.
If your Pomona purchase stays under $806,500, stick with conventional. You'll get more lender options, lower down payments, and easier qualification.
Properties above that limit force you into jumbo territory. Make sure you have 15-20% down and strong credit before you shop in that price range.
Some buyers split the difference with an 80-10-10 structure on properties just over the limit. You take a conventional first at $806,500, a second mortgage for part of the down payment, and put 10% cash down. This avoids jumbo underwriting but adds complexity.
Your income documentation matters equally on both loans. W-2 earners have the easiest path. Self-employed borrowers need two years of tax returns showing stable or rising income.
$806,500 for a single-family home in Los Angeles County as of 2025. Anything above that requires a jumbo loan.
Yes, some lenders go to 10% down on jumbos. Expect higher rates and tighter credit requirements below 15% down.
Not anymore. Strong borrowers often get jumbo rates matching or beating conventional rates due to portfolio lender competition.
Conventional loans start at 620. Jumbo lenders prefer 700+, though some accept 680 with compensating factors.
Lenders want proof you can handle payments if income drops. Six to twelve months of reserves reduces their risk on larger loans.
Yes, with 20% down or using lender-paid MI structures. PMI also cancels automatically at 78% loan-to-value through payments.