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VA loans in Upper Montclair, NJ

Quick answer

Eligible veterans and service members in Upper Montclair, NJ can buy with 0% down and no monthly mortgage insurance; with full entitlement there's no VA loan limit, and Essex County's $1,209,750 limit applies only to partial entitlement. On the $968,200 median home, the estimated payment is $8,629/month at 7.18% including the 2.15% first-use funding fee.

By Purchase Mortgage Loan Editorial Team Checked against official sources per our editorial standardsData last updated

Median household income: $250,001; value-to-income ratio 3.87. Upper Montclair ranks 6 by home value and 111 by population among 159 places in our NJ dataset.

What does a VA loan cost on a typical Upper Montclair home?

ItemUpper Montclair
Median home value (Census ACS)$968,200
New Jersey median home value$427,600
Down payment (0%)$0
Loan incl. 2.15% funding fee$989,016
Estimated monthly payment (PITI + MI)$8,629
Income needed (28% / 36%)$370,000 / $288,000
Essex County 2026 county limit for partial VA entitlement$1,209,750

Rate assumption: 7.18% (Freddie Mac PMMS 30-year fixed average, week of November 5, 2026). Change it in the payment calculator.

Payment includes New Jersey's 2.23% effective property tax rate (Census ACS), $1,551/yr homeowners insurance (NAIC state average); VA loans have no monthly mortgage insurance.

What is the 2026 VA loan limit in Upper Montclair?

VA loans have no loan limit for borrowers with full entitlement. If part of your entitlement is tied up in another VA loan, VA uses Essex County's 2026 conforming limit of $1,209,750 to calculate your zero-down maximum. The county's FHA limit is $1,249,125 for comparison.

The Upper Montclair median home value of $968,200 is 126% above the New Jersey median, and within what the county limit supports.

Which down payment assistance programs can Upper Montclair buyers use?

VA loans in nearby cities

BrookdaleCliftonWoodland ParkPassaicTotowaWallington

VA loan FAQs for Upper Montclair

Not for borrowers with full entitlement. If you have an active VA loan or unrestored entitlement, Essex County's 2026 limit of $1,209,750 is used to calculate how much you can borrow with no down payment.

With 0% down on $968,200, a 2.15% first-use funding fee financed brings the loan to about $989,016; the estimated payment including New Jersey taxes and insurance is $8,629/month. Veterans with a service-connected disability rating are generally exempt from the fee.

At the $968,200 median value (above the New Jersey median of $427,600), the estimated payment of $8,629/month at 7.18% needs about $370,000 a year under the 28% housing guideline, or $288,000 if your total debts stay under 36%.

0 city-level, 0 county-level and 1 statewide programs are verified for this city (1 total). Check each official administrator's eligibility rules and available funds.

Sources

Data last updated October 23, 2026.

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Figures on this page are estimates for educational purposes only and are not a loan offer or commitment to lend. Rates, loan limits, fees and assistance programs change frequently and vary by lender, location and borrower profile. Confirm current terms with a licensed loan officer.