Loading
in Angels Camp, CA
Angels Camp sits in the Sierra foothills where property values vary wildly. A cabin on a few acres might cost $400k while a sprawling ranch can hit $1.5 million.
The loan you need depends entirely on your purchase price. Conventional loans work up to $806,500 in Calaveras County. Anything above that requires a jumbo loan with different rules.
Conventional loans follow Fannie Mae and Freddie Mac guidelines. You can put down as little as 3% with credit scores around 620. PMI applies under 20% down but drops off once you hit that equity mark.
These loans offer the most competitive rates for most buyers. Lenders view them as lower risk because Fannie and Freddie back the paper. Approval is straightforward if your income and debt ratios check out.
Jumbo loans finance properties above conforming limits. In Angels Camp, that means anything over $806,500. Lenders hold these loans on their own books, so they set stricter requirements.
Expect to put down at least 10%, often 20%. Credit scores typically need to be 700 or higher. You'll also need solid reserves—usually 6 to 12 months of payments in the bank after closing.
The loan limit is the obvious divider. But jumbo loans also demand more financial cushion. Lenders want to see 12 months of reserves instead of 6. Debt-to-income ratios get tighter—usually capped at 43% instead of 50%.
Rates can surprise you. Jumbo rates sometimes beat conventional rates because the borrower profile is stronger. But that flips if your credit drops below 740 or your down payment sits under 20%.
If your Angels Camp purchase stays under $806,500, take the conventional loan. Lower down payment, easier approval, and you keep more cash liquid. Most buyers in Calaveras County fall into this range.
Above that threshold, jumbo is your only option. Make sure you have 20% down and strong credit before you start shopping. Properties in that price range move slower, so you'll have time to get your finances dialed in.
The 2025 conforming limit for Calaveras County is $806,500. Anything above requires a jumbo loan.
Yes, but expect higher rates and stricter approval. Most lenders prefer 20% down for competitive jumbo pricing.
Not always. With 740+ credit and 20% down, jumbo rates often match or beat conventional rates.
Most lenders want 6 to 12 months of payments in the bank after closing. That's liquid cash, not retirement accounts.
You'd only refinance into a jumbo if your home value pushed your loan above conforming limits. Rates and terms would follow jumbo guidelines.