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Montclair sits in San Bernardino County where median household income runs $82,184. A $1.375M home here requires serious down payment muscle—$275K gets you to 80% LTV. At 6.375%, that $1.1M loan carries $6,863 monthly for principal and interest alone.
Jumbo loans above the conforming limit demand tighter scrutiny than conventional mortgages. Lenders want 740+ FICO, substantial reserves, and proof that the payment fits comfortably in your budget.
6.375%
Interest Rate
$6,863
Monthly P&I
740
FICO Minimum
20% minimum
Down Payment
6–12 months
Reserves Required
45–60 days
Close Timeline
Jumbo Loans in Montclair
Jumbo loans in Montclair start at 740 FICO and require 20% down minimum. Most lenders want 6–12 months of liquid reserves after closing. At $1.1M loan size, that means $55K–$110K sitting in the bank.
Down payment flexibility exists between 20% and 30%, but rates stay fixed. Self-employed borrowers face tighter documentation. Cash reserves matter more than credit score alone.
Local decision guide
Use this guide to connect jumbo loans eligibility, lender expectations, and local market factors before comparing payment options in Montclair.
Montclair sits in San Bernardino County where median household income runs $82,184. A $1.375M home here requires serious down payment muscle—$275K gets you to 80% LTV. At 6.375%, that $1.1M loan carries $6,863 monthly for principal and interest alone.
Jumbo loans above the conforming limit demand tighter scrutiny than conventional mortgages. Lenders want 740+ FICO, substantial reserves, and proof that the payment fits comfortably in your budget.
Jumbo loans in Montclair start at 740 FICO and require 20% down minimum. Most lenders want 6–12 months of liquid reserves after closing. At $1.1M loan size, that means $55K–$110K sitting in the bank.
Jumbo lending in California splits between portfolio lenders (banks holding loans) and correspondent networks (brokers selling to aggregators). Portfolio lenders move slower but offer flexibility on reserves and income documentation.
Most jumbo closings take 45–60 days. Appraisals run $800–$1,200 on homes above $1M. Underwriting scrutinizes every bank statement and tax return. Retail banks like Wells Fargo and Chase offer jumbo products but at wider spreads.
Jumbo 30-year fixed makes sense in Montclair when you're buying above $832,750 and have stable W-2 income. The 6.375% rate pencils out if you plan to stay 7+ years.
The real win: jumbo loans don't cap out at $832,750. You can finance $1.1M, $1.5M, or higher with the same 30-year amortization. If Montclair's $1.375M median is your target and you have the reserves, jumbo is your only path forward.
Conventional mortgages max out at $832,750 in San Bernardino County. Above that, you have two paths: jumbo fixed-rate or portfolio ARM. Jumbo 30-year fixed locks your rate for life. Portfolio ARMs start lower but adjust after year 5 or 7.
If you're buying $1.375M in Montclair, conventional won't work. Jumbo fixed-rate trades a higher starting rate for certainty. ARM would save you money early but expose you to rate risk when the market moves.
Montclair sits between Ontario and Chino, with freeway access to Los Angeles and Inland Empire job centers. Homes above $1.3M here attract buyers relocating from Orange County or LA County seeking space without the coastal price tag.
The $1.375M buyer in Montclair is often upgrading from a $900K home or moving for a job in tech or logistics. That profile—stable income, established family, 20%+ down—is exactly what jumbo lenders want to see.
Principal and interest run $6,863 per month on a $1.1M loan at 6.375% APR. Add property taxes, insurance, and HOA if applicable. The full housing payment typically runs 28–32% of gross income for jumbo borrowers.
Yes — 20% down is the minimum for jumbo loans. Most lenders won't go below 80% LTV. Some portfolio lenders allow 15% down but charge higher rates and require larger reserves.
Jumbo lenders require 6–12 months of liquid reserves after closing. On a $1.1M loan, that's $55K–$110K in savings, checking, or investment accounts. Retirement accounts don't count.
740 FICO is the floor for most jumbo lenders. Scores below 740 face rate penalties or denial. Self-employed borrowers often need 760+ to offset income documentation concerns.
Jumbo closings typically take 45–60 days. Appraisals on $1M+ homes run longer than standard properties. Underwriting scrutinizes every tax return and bank statement, which adds time.