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Markleeville sits at 5,500 feet in Alpine County's high Sierra. A $937,500 purchase with 20% down runs $4,437 monthly on principal and interest at 5.875%. That payment assumes a 740 FICO and a 30-day lock.
The conforming limit here is $832,750, so homes above that price jump to jumbo rules. Alpine County's median household income of $110,781 supports this price range comfortably for dual-income buyers.
5.875%
Interest rate
$4,437
Monthly P&I
740
FICO requirement
$750,000
Loan amount
20% ($187,500)
Down payment
30 days
Lock period
Conforming Loans in Markleeville
Conforming loans require a 620 FICO floor, but lenders typically want 680+. At this price point, 740 is standard. You'll need 3% down minimum, though 20% eliminates PMI entirely.
Alpine County's median household income of $110,781 supports a $937,500 purchase for buyers with stable employment. Debt-to-income ratio caps at 43-50% depending on the lender. Two incomes help here.
Local decision guide
Use this guide to connect conforming loans eligibility, lender expectations, and local market factors before comparing payment options in Markleeville.
Markleeville sits at 5,500 feet in Alpine County's high Sierra. A $937,500 purchase with 20% down runs $4,437 monthly on principal and interest at 5.875%. That payment assumes a 740 FICO and a 30-day lock.
The conforming limit here is $832,750, so homes above that price jump to jumbo rules. Alpine County's median household income of $110,781 supports this price range comfortably for dual-income buyers.
Conforming loans require a 620 FICO floor, but lenders typically want 680+. At this price point, 740 is standard. You'll need 3% down minimum, though 20% eliminates PMI entirely.
Conforming loans are the backbone of California mortgage lending. Fannie Mae and Freddie Mac set the rules, so rates and terms are consistent across brokers and banks. Retail lenders and brokers compete on service, not pricing.
Closing timelines run 30-45 days for conforming loans. Underwriting is faster than FHA or jumbo because the agency rules are well-established. Most lenders offer rate locks from 15 to 60 days.
Conforming loans make sense in Markleeville for buyers with 20% down and a 740+ FICO. Below that credit score or with less than 10% down, FHA becomes cheaper because PMI costs more than FHA's mortgage insurance.
At $937,500, you're just above the conforming limit of $832,750. Homes under that threshold lock in agency pricing. Above it, jumbo rates run 0.25-0.5% higher and require 20% down minimum.
FHA loans run lower rates but carry lifetime mortgage insurance if you put down less than 10%. At 20% down, conventional (conforming) has no PMI. The insurance cost over 30 years often exceeds the rate difference.
VA loans offer zero down with no PMI, but only for eligible veterans. If you qualify, VA is hard to beat. For non-veterans with 20% down, conforming and VA rates are comparable.
Markleeville is a mountain community with limited inventory. Most homes sell within weeks at this price point. Financing speed matters—a 30-day lock and 45-day close keep you competitive in a tight market.
Alpine County's population of 1,695 means no big-box services nearby. Buyers here value stability and long-term holds. A 30-year fixed at 5.875% locks in predictability for the next three decades.
Principal and interest run $4,437 monthly at 5.875% on a 30-year fixed. That's based on a $937,500 purchase, $187,500 down (20%), 740 FICO, and a 30-day lock as of April 14, 2026. Taxes and insurance add to that.
Yes. At 20% down (80% LTV), there is no PMI. Below 20%, PMI is required and typically costs 0.5-1.5% annually. At 10% down, PMI cancels at 78% LTV under the Homeowners Protection Act.
The floor is 620, but lenders typically want 680+. At this $937,500 price point, 740 is standard. Higher scores lock better rates and easier approval.
Conforming rates run higher than FHA, but conforming has no PMI at 20% down. FHA's mortgage insurance never cancels if you put down less than 10%. Over 30 years, the insurance cost often exceeds the rate savings.
No. Above $832,750, you need a jumbo loan. Jumbo rates run 0.25-0.5% higher and require 20% down minimum. Your $937,500 purchase is above the conforming limit, so jumbo rules apply.