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in Montclair, CA
Montclair sits in San Bernardino County, where the median household income is $82,184 and new coffeehouses are opening regularly. FHA and VA both offer 30-year fixed mortgages at 5.875%, but they work very differently for buyers at different stages.
The 2026 FHA loan limit here is $690,000, while VA buyers can go up to $832,750 without a down payment. Your eligibility and savings determine which program fits.
FHA at 5.875% works when you have modest savings and a solid credit score. The 3.5% down payment keeps cash in your pocket at closing.
MIP runs for the life of the loan if your down payment is under 10%. At 96.5% LTV, you're paying mortgage insurance the entire time you own the property.
VA at 5.875% is zero down for eligible veterans and active-duty service members. No down payment, no mortgage insurance, no PMI alternative.
The funding fee replaces mortgage insurance: 2.15% on a zero-down purchase. That fee rolls into the loan, so your monthly payment covers both principal and the cost of the benefit.
Local decision guide
Use this comparison to weigh FHA Loans and VA Loans through local payment fit, eligibility, documentation, and timing before choosing a path in Montclair.
Montclair sits in San Bernardino County, where the median household income is $82,184 and new coffeehouses are opening regularly. FHA and VA both offer 30-year fixed mortgages at 5.875%, but they work very differently for buyers at different stages.
The 2026 FHA loan limit here is $690,000, while VA buyers can go up to $832,750 without a down payment. Your eligibility and savings determine which program fits.
FHA at 5.875% works when you have modest savings and a solid credit score. The 3.5% down payment keeps cash in your pocket at closing.
FHA requires a down payment; VA does not. On a $750,000 purchase, FHA buyers put down $27,202 while VA buyers put down nothing. That's the fundamental split.
FHA's MIP lasts the life of the loan at high LTV. VA's funding fee is a one-time cost rolled into the mortgage. Over 30 years, the fee structure matters far more than the rate.
The 2026 FHA limit of $690,000 caps what you can borrow. VA's $832,750 limit gives eligible buyers room to go higher in Montclair's market.
FHA wins when you have limited savings but solid credit. If you're putting down $27,000 and have a 740 FICO, FHA gets you into the home. You'll carry MIP for 30 years, but the lower down payment matters more right now.
VA is the clear choice for eligible veterans and active-duty service members. Zero down and no mortgage insurance beat FHA's 3.5% down and lifetime MIP every time. If you have a Certificate of Eligibility, VA is your move.
Both are $4,437 on a $750,000 loan at 5.875% (740 FICO, 30-year fixed, priced June 13, 2026). FHA's down payment is $27,202; VA's is zero. The payment is the same because the loan amount is the same.
Yes. FHA requires 580+ FICO; 740 is well above that floor. You'll qualify for the rate and terms shown. Down payment starts at 3.5%.
Yes — you must be eligible. Active-duty service members, veterans, and surviving spouses with a Certificate of Eligibility qualify. Provide your COE to your lender.
VA. The 2026 FHA limit is $690,000; the VA limit is $832,750. If you're eligible for VA and want to borrow more, VA opens that door.
MIP cancels after 11 years if you put down 10% or more. Below 10% down, MIP runs for the life of the loan. At 3.5% down, plan on 30 years of MIP.