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in Markleeville, CA
Markleeville is a small Alpine County town. Most buyers here fall into two camps: veterans with VA eligibility or conventional borrowers putting money down.
HousingWire flagged the 30-year fixed hitting 6.57% with applications dropping sharply. That rate gap between VA and conventional matters more now than it did two years ago.
Conventional loans aren't backed by the government. Lenders take on more risk, so they set stricter requirements to compensate.
You'll need at least a 620 credit score and a down payment — typically 3% to 20%. Put down less than 20% and you'll pay PMI (private mortgage insurance) monthly until you hit 20% equity.
VA loans are guaranteed by the Department of Veterans Affairs. Eligible veterans and active-duty members can buy with zero down and no PMI.
The VA doesn't set a minimum credit score, but most lenders want at least 580–620. There's a funding fee — a one-time cost rolled into the loan — but no monthly mortgage insurance.
The biggest difference is cash to close. VA buyers can walk in with zero down. Conventional buyers need real money upfront.
VA loans also skip monthly PMI entirely. On a rural Alpine County property, that monthly savings adds up fast. Conventional borrowers pay PMI until equity builds.
If you have VA eligibility, use it. Zero down and no PMI is hard to beat — especially with rates elevated as of April 2026.
Conventional makes sense if you lack VA eligibility or are putting 20% down. At 20% down, you skip PMI and the funding fee comparison shifts in conventional's favor.
Yes. VA loans work on eligible properties in Alpine County. The home must meet VA minimum property requirements.
It's a one-time fee paid to the VA, usually rolled into the loan. It replaces monthly mortgage insurance.
Often, yes. VA loans typically carry lower rates. Rates vary by borrower profile and market conditions.
Yes, in some cases. Remaining VA entitlement can allow a second VA loan, or you can layer with conventional financing.
VA works well here if you're eligible. No down payment matters more in a rural market with fewer comparable sales.