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Montague sits in rural Siskiyou County where $1.375M purchases land and space most California buyers can't find closer to the coast. At 6.375%, a $1.1M jumbo loan runs $6,863 monthly for principal and interest alone.
Jumbo lending in this price range requires serious reserves and a clean credit profile. Most lenders want 20% down minimum and proof you can cover six months of payments if income stops.
6.375%
Interest Rate
$6,863
Monthly P&I
740
FICO Minimum
20% ($275K)
Down Payment
6 months
Reserves Required
45–60 days
Close Timeline
Jumbo Loans in Montague
Jumbo loans above $832,750 demand 740+ FICO, 20% down, and six months of liquid reserves. At $1.375M purchase price, you're putting $275,000 down and keeping $50,000+ in the bank after close.
Siskiyou County's median household income is $55,499. That income doesn't qualify for jumbo loans at this price. Jumbo buyers here typically earn $150K–$250K+ annually and have assets beyond the down payment.
Local decision guide
Use this guide to connect jumbo loans eligibility, lender expectations, and local market factors before comparing payment options in Montague.
Montague sits in rural Siskiyou County where $1.375M purchases land and space most California buyers can't find closer to the coast. At 6.375%, a $1.1M jumbo loan runs $6,863 monthly for principal and interest alone.
Jumbo lending in this price range requires serious reserves and a clean credit profile. Most lenders want 20% down minimum and proof you can cover six months of payments if income stops.
Jumbo loans above $832,750 demand 740+ FICO, 20% down, and six months of liquid reserves. At $1.375M purchase price, you're putting $275,000 down and keeping $50,000+ in the bank after close.
Jumbo lending in California tightened after 2008. Most portfolio lenders and brokers now require full documentation, appraisals, and employment verification. Rates run 0.25–0.5% above conforming loans due to the higher balance.
Brokers can access jumbo programs through correspondent lenders and portfolio banks. Retail banks often have stricter overlays. Expect 45–60 days to close on a jumbo in rural California due to appraisal timelines and underwriting depth.
Jumbo 30-year fixed makes sense in Montague when you have the reserves and income to support it. At $1.1M, you're borrowing $267K above the conforming limit—that spread costs real money in rate and underwriting friction.
The opinion: if you're buying land or a rural property here and can't find a conforming loan that fits, jumbo is your only path. But the 6.375% rate assumes 20% down and 740+ FICO. Any weakness costs you points or rate.
Conventional conforming loans max out at $832,750 in Siskiyou County. If you need $1.1M, jumbo is your only option—there's no alternative product at this balance.
The tradeoff: jumbo rates run higher and underwriting is tighter. You get a 30-year fixed term and no PMI, but you pay for the size and risk with rate and documentation burden.
Montague and Siskiyou County offer rural living at a fraction of coastal California prices. A $1.375M property here buys acreage, privacy, and land—not a small suburban lot.
Buyers in this market are often relocating from the Bay Area or Sacramento for space and lower cost of living. The jumbo loan reflects the purchase price, not the local economy. Your income and reserves matter more than the county's median.
Principal and interest run $6,863 per month on a $1.1M loan at 6.375% APR. That's before property taxes, insurance, and HOA fees. The rate assumes 80% LTV, 740 FICO, and 0.472 discount points ($5,193 upfront).
Yes. Most jumbo lenders require 20% down minimum. On a $1.375M purchase, that's $275,000. Some portfolio lenders go 15% down, but expect higher rates and stricter reserves.
740 FICO is the floor for most jumbo programs. Some lenders go 720 with strong reserves and income. Below 740, you'll pay higher rates or get denied. Jumbo underwriting is stricter than conventional.
Six months of housing payment (principal, interest, taxes, insurance) is standard. On a $1.375M property in Siskiyou, that's roughly $50,000–$60,000 in liquid assets after down payment.
45–60 days is typical in rural California. Appraisals take longer on unique properties. Full documentation and employment verification add time. Conventional loans close in 30–40 days.