Question 1

What is the conforming loan limit in Alpine County?

Accepted Answer

The FHFA sets conforming limits annually. Any loan above that limit is a jumbo loan, regardless of property type.

Question 2

Do jumbo loans always have higher rates than conventional?

Accepted Answer

Usually, yes. Jumbo loans carry more lender risk. Rates vary by borrower profile and market conditions.

Question 3

Can I put less than 20% down on a jumbo loan?

Accepted Answer

Some lenders allow it, but it's rare. Most jumbo programs in this range require 20% minimum down.

Question 4

Is a conventional loan harder to get than a jumbo loan?

Accepted Answer

No — conventional underwriting is more standardized. Jumbo approval is stricter across the board.

Question 5

How many months of reserves do I need for a jumbo loan?

Accepted Answer

Most jumbo lenders want 12 months of reserves. That means 12 months of full mortgage payments sitting in your account.

Question 6

Which loan is better for a mountain cabin purchase in Markleeville?

Accepted Answer

Depends on purchase price. Under the conforming limit, go conventional. Above it, you need a jumbo program.

Conventional vs Jumbo Loans in Markleeville, CA