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Alpine County's recent snowfall has reminded buyers why mountain properties here command premium prices. A $937,500 home with 20% down runs $4,437 monthly at 5.875%, locking in stability for the long term.
Markleeville sits at 5,500 feet elevation where winter weather shapes everything—from property maintenance to insurance costs. Conventional financing at this rate works best for buyers who plan to stay put through multiple seasons.
5.875%
Interest Rate
$4,437
Monthly P&I
740
FICO Minimum
$750,000
Loan Amount
20% ($187,500)
Down Payment
30-45 days
Close Timeline
Conventional Loans in Markleeville
Conventional loans in Markleeville require 740 FICO and typically 20% down to skip PMI entirely. At 80% LTV, you're clear of mortgage insurance—no ongoing cost, no cancellation hassle.
Down payment flexibility exists below 20%, but PMI kicks in and stays until you hit 78% LTV. A $937,500 purchase with $187,500 down (20%) avoids that entirely. Debt-to-income ratio usually caps at 43%, so verify your other obligations before applying.
Local decision guide
Use this guide to connect conventional loans eligibility, lender expectations, and local market factors before comparing payment options in Markleeville.
Alpine County's recent snowfall has reminded buyers why mountain properties here command premium prices. A $937,500 home with 20% down runs $4,437 monthly at 5.875%, locking in stability for the long term.
Markleeville sits at 5,500 feet elevation where winter weather shapes everything—from property maintenance to insurance costs. Conventional financing at this rate works best for buyers who plan to stay put through multiple seasons.
Conventional loans in Markleeville require 740 FICO and typically 20% down to skip PMI entirely. At 80% LTV, you're clear of mortgage insurance—no ongoing cost, no cancellation hassle.
California's conventional market splits between retail banks and mortgage brokers. Brokers typically close faster and offer more flexibility on overlays.
Fannie Mae and Freddie Mac set the baseline rules, but individual lenders add their own overlays. Alpine County's small population means fewer local branches—most deals happen via broker networks or out-of-area retail shops.
Conventional makes sense in Markleeville when you have 20% down and solid credit. The 5.875% rate beats FHA's lower rate once you factor in lifetime mortgage insurance. At $937,500, you're just under the $1.05M conforming limit—no jumbo premium.
Skip conventional if you're putting down less than 15%. PMI on a $750K loan runs $150+ monthly and never cancels without refinancing. FHA's upfront insurance might pencil better for lower-down scenarios, but call for today's FHA quote to compare.
FHA loans run lower rates than conventional but carry lifetime mortgage insurance if you put down less than 10%. At 20% down, conventional wins—no insurance, no rate penalty. FHA shines only if you're putting down 3.5% and accepting the insurance cost.
VA loans offer zero-down for eligible veterans with no PMI, but most Markleeville buyers aren't military. Jumbo loans above $832,750 typically cost 0.25-0.5% more in rate and require 20% down plus reserves.
Alpine County's recent significant snowfall reminds buyers that mountain living requires year-round planning. Property insurance and maintenance budgets matter as much as the mortgage rate.
The South Lake Tahoe school system changes affecting special education signal ongoing regional investment in education. Families buying in Markleeville often look to Tahoe schools. A stable 30-year mortgage lets you commit to the community without rate shock.
At 5.875% on a $750,000 loan with 20% down, your principal and interest run $4,437 monthly. Add property tax, insurance, and HOA if applicable. This assumes a 740 FICO, 30-year term, and primary residence occupancy.
Yes. 20% down (80% LTV) is the only way to skip PMI on a conventional loan. Below 20%, PMI stays until you hit 78% LTV through appreciation or paydown. That's years of extra cost.
Yes, but PMI applies. With 15% down on a $937,500 home, you'd carry mortgage insurance until the loan balance drops to 78% LTV. That's roughly 8-10 years of extra monthly cost.
740 FICO is the floor for conventional loans at this price point. Some lenders go lower with compensating factors, but 740+ gives you the best rates and terms.
Expect 30-45 days. Markleeville's small population means most lenders work remotely. No local branch advantage, but brokers often close faster than retail banks.