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Markleeville sits at 5,500 feet in the Sierra Nevada, where $1.375M purchases a single-family home on primary residence terms. At 6.375%, a $1.1M jumbo loan carries a $6,863 monthly payment for principal and interest alone.
Alpine County's median household income of $110,781 stretches further here than in coastal California, but jumbo financing still requires serious reserves. The mountain market moves slower than the Bay Area — expect 45-60 days to close on a jumbo deal.
6.375%
Interest Rate
$6,863
Monthly P&I
740
Min. FICO
20% ($275K)
Down Payment
6-12 months
Reserves Required
45-60 days
Close Timeline
Jumbo Loans in Markleeville
Jumbo loans in Markleeville require 740+ FICO and 20% down minimum. At $1.375M purchase price, that's $275,000 down and a $1.1M loan. Lenders want 6-12 months of liquid reserves after closing — not savings, but cash you can prove.
Alpine County's median household income of $110,781 means most jumbo buyers here are relocating from higher-income areas or have investment income. Debt-to-income caps run 43-45% on jumbo deals, tighter than conventional.
Local decision guide
Use this guide to connect jumbo loans eligibility, lender expectations, and local market factors before comparing payment options in Markleeville.
Markleeville sits at 5,500 feet in the Sierra Nevada, where $1.375M purchases a single-family home on primary residence terms. At 6.375%, a $1.1M jumbo loan carries a $6,863 monthly payment for principal and interest alone.
Alpine County's median household income of $110,781 stretches further here than in coastal California, but jumbo financing still requires serious reserves. The mountain market moves slower than the Bay Area — expect 45-60 days to close on a jumbo deal.
Jumbo loans in Markleeville require 740+ FICO and 20% down minimum. At $1.375M purchase price, that's $275,000 down and a $1.1M loan. Lenders want 6-12 months of liquid reserves after closing — not savings, but cash you can prove.
Jumbo lending in California splits between portfolio lenders (banks that keep loans on their books) and jumbo specialists who sell to investors. Portfolio lenders move slower but offer more flexibility on reserves and income documentation.
Most jumbo deals in the Sierra region come through brokers rather than retail banks. Brokers access 15-20 jumbo lenders statewide, which matters in a thin market like Markleeville.
Jumbo 30-year fixed makes sense in Markleeville when you're buying a mountain retreat with 20% down and solid reserves. The 6.375% rate pencils if you're staying 7+ years. Below that horizon, a 5/1 ARM might start lower, but rate risk after year five is real.
Where jumbo doesn't work: buyers with less than 20% down or under 12 months reserves. Those borrowers should explore portfolio lenders' 15% down options or wait to save. Alpine County's thin market means appraisals can kill deals — order one early.
Jumbo 30-year fixed vs. 5/1 ARM: the fixed rate runs higher today but never adjusts. The ARM starts lower but resets every year after year five. In Markleeville's thin market, rate certainty matters more than chasing a 0.5% initial discount.
Jumbo vs. conventional: you can't use conventional above $832,750 here. Jumbo is your only option at $1.1M. The tradeoff is tighter underwriting and higher reserves — but the rate reflects that cost.
Markleeville has no schools, no restaurants, and no retail — it's a mountain pass town of 1,695 people. Buyers here are either building a cabin retreat or relocating for remote work.
The nearest town with services is Woodfords, 10 miles west. Most jumbo buyers in Markleeville are cash-flow positive from other sources — rental income, investments, or remote salary.
Principal and interest run $6,863 per month on a $1.1M loan at 6.375%. Add property taxes, insurance, and HOA if applicable. The full payment typically runs $8,500-9,200 depending on the property.
Yes — 20% down is the standard minimum for jumbo loans. Some portfolio lenders will go 15% down, but you'll pay a higher rate and need stronger reserves. At $1.375M purchase, 20% down is $275,000.
740+ FICO is the floor for most jumbo lenders. Some portfolio lenders will go 720 with strong compensating factors — large reserves, low debt-to-income, or significant liquid assets. Expect a rate bump below 740.
Plan on 6-12 months of liquid reserves after closing. For a $6,863 monthly payment, that's $41,000-82,000 in cash you can document. Retirement accounts and investment accounts count; home equity does not.
Expect 45-60 days from application to funding. Mountain appraisals take longer — 3-4 weeks is normal. If the appraisal comes in low, renegotiation or additional reserves may be required.