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National City sits at the southern edge of San Diego County, where $1.38M homes are the entry point for serious buyers. At 5.875%, a $1.104M jumbo loan carries a $6,531 monthly payment for principal and interest alone.
Jumbo lending in this price range demands 20% down and a 740+ FICO score. San Diego County's median household income of $102,285 means most jumbo buyers here are either dual-income professionals or bringing substantial savings from elsewhere.
5.875%
Interest Rate
$6,531
Monthly P&I
740
FICO Minimum
20% ($276K)
Down Payment
45-60 days
Typical Close
Jumbo Loans in National City
Jumbo loans in National City require 740 FICO minimum and 20% down on a $1.38M purchase. That's $276,000 down and a $1.104M loan. Lenders want to see 6-12 months of reserves in liquid assets after closing.
San Diego County's median household income is $102,285 annually. A household earning that amount brings home roughly $8,524 per month. With a $6,531 mortgage payment alone, you're at 76% of gross income before property taxes and insurance.
Local decision guide
Use this guide to connect jumbo loans eligibility, lender expectations, and local market factors before comparing payment options in National City.
National City sits at the southern edge of San Diego County, where $1.38M homes are the entry point for serious buyers. At 5.875%, a $1.104M jumbo loan carries a $6,531 monthly payment for principal and interest alone.
Jumbo lending in this price range demands 20% down and a 740+ FICO score. San Diego County's median household income of $102,285 means most jumbo buyers here are either dual-income professionals or bringing substantial savings from elsewhere.
Jumbo loans in National City require 740 FICO minimum and 20% down on a $1.38M purchase. That's $276,000 down and a $1.104M loan. Lenders want to see 6-12 months of reserves in liquid assets after closing.
Jumbo lending in California sits in a different tier than conforming mortgages. Banks and portfolio lenders handle most jumbo volume — they keep loans on their books rather than selling them to Fannie Mae or Freddie Mac.
Rates on jumbo loans typically run 0.25-0.5% higher than conforming 30-year fixed rates. The spread exists because jumbo lenders carry more risk and can't sell loans as easily.
Jumbo makes sense in National City when you're buying above $1.104M and have the reserves to prove it. At 5.875%, the rate is competitive for the risk profile. The real question isn't the rate — it's whether you can document 6-12 months of liquid reserves.
Jumbo doesn't work if your reserves are thin or your income is hard to verify (self-employed, commission-based). Lenders will ask for two years of tax returns and may require a CPA letter.
Conventional loans max out at $1.104M in San Diego County. Above that, you're in jumbo territory — there's no middle ground. If you're buying a $1.38M home, conventional isn't an option. The choice is jumbo or nothing.
FHA loans top out at $1.104M here too, so they don't apply to National City homes above that price. VA loans have the same limit. Jumbo is the only product that works for $1.38M purchases.
National City is a working-class community in South County with strong ties to the Port of San Diego and manufacturing. Homes here appreciate steadily but not dramatically — the $1.38M buyer is usually an investor or someone relocating for work.
Proximity to the Mexican border and the South Bay freeway makes National City attractive for commuters heading to downtown San Diego or the airport. That stability matters for jumbo lenders — they want to see neighborhoods with consistent demand.
Principal and interest run $6,531 per month at 5.875% on a 30-year jumbo. Add property taxes (roughly $500-$700/month), homeowners insurance ($150-$200/month), and any HOA fees.
Yes. Jumbo lenders require 20% down minimum on a $1.38M purchase. That's $276,000. Some lenders will go to 15% down if you bring 12+ months of reserves, but 20% is the standard floor.
With a $6,531 mortgage payment, lenders want to see gross monthly income of at least $15,000-$16,000 ($180K-$192K annually) to stay under 43% debt-to-income. Most jumbo buyers in National City earn $200K+.
740 FICO minimum. Most jumbo lenders won't go below 740. If you're at 700-739, you'll face rate penalties or denial. Lenders also pull all three credit bureaus and look for recent late payments or collections.
45-60 days is standard. Jumbo underwriting is deeper than conventional — appraisals take longer, employment verification is stricter, and reserves must be documented.