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in Markleeville, CA
Markleeville is a small Alpine County town with a tight housing market. Most properties here are cabins, vacation homes, or rural parcels — not typical owner-occupied purchases.
That mix makes loan choice critical. Conventional works for primary buyers. DSCR fits investors who want rental income to do the qualifying work.
Conventional loans follow Fannie Mae and Freddie Mac guidelines. You need verifiable income, a solid credit score, and a debt-to-income ratio lenders will approve.
Rates are competitive for strong borrowers. Put 20% down and you skip private mortgage insurance entirely. HousingWire flagged the 30-year fixed at 6.57% recently — rates vary by borrower profile and market conditions.
DSCR loans qualify you based on the rental property's income — not yours. Lenders calculate the debt service coverage ratio: monthly rent divided by monthly mortgage payment.
A DSCR of 1.0 means rent covers the payment. Most lenders want 1.1 or higher. No tax returns, no pay stubs, no personal income review.
Conventional underwriting is built around you. Your W-2, your DTI, your employment history. DSCR underwriting is built around the property. The rent has to pencil out.
DSCR rates run higher than conventional — that's the trade-off for skipping income docs. Conventional gives you better pricing if you can prove income. Rates vary by borrower profile and market conditions.
Buying a cabin near Markleeville as your primary home? Conventional is your path — better rates, standard process, and Fannie Mae-backed terms.
Picking up a vacation rental or investment property? Run the DSCR math first. If the rent covers 110% of the payment, DSCR may be cleaner than fighting a conventional lender on investment property guidelines.
Some lenders accept short-term rental income for DSCR calculations. Confirm the lender's policy on Airbnb-style income before applying.
Most DSCR lenders want a 680 or higher. Some go down to 640, but expect a worse rate if you're below 700.
Yes, but lenders tighten the rules. Expect higher down payment requirements and stricter reserve requirements on non-owner-occupied deals.
Typically 20-25% down. Some lenders allow 15% with strong DSCR numbers, but 20% is the standard floor.
Yes. DSCR is a non-QM product, meaning it falls outside standard Fannie Mae guidelines. Portfolio lenders set their own terms.
Conventional rates are generally lower for qualified borrowers. DSCR carries a premium for the flexibility of skipping income docs. Rates vary by borrower profile and market conditions.