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Placerville sits in El Dorado County foothills — a market where buyers tend to be serious and inventory moves at a measured pace.
Conventional loans are the dominant choice here. Most Placerville properties fit well within conforming loan limits, making this the cleanest path to financing.
620
Min Credit Score
3% (first-time buyers)
Min Down Payment
20% down
PMI Required Below
80% LTV
PMI Cancels At
21-30 days
Typical Close Time
Conventional Loans in Placerville
Most lenders want a 620 minimum credit score. But at 620, you're paying for it in rate. The real pricing sweet spot starts at 740.
Down payment can be as low as 3% for first-time buyers. Repeat buyers typically need 5% minimum. Put down 20% and you drop PMI entirely.
Local decision guide
Use this guide to connect conventional loans eligibility, lender expectations, and local market factors before comparing payment options in Placerville.
Placerville sits in El Dorado County foothills — a market where buyers tend to be serious and inventory moves at a measured pace.
Conventional loans are the dominant choice here. Most Placerville properties fit well within conforming loan limits, making this the cleanest path to financing.
Most lenders want a 620 minimum credit score. But at 620, you're paying for it in rate. The real pricing sweet spot starts at 740.
HousingWire flagged the 30-year fixed hitting 6.57% with applications falling sharply — that's the rate environment Placerville buyers are working in right now.
We shop conventional pricing across 200+ wholesale lenders. Retail banks quote one rate. We find where the real pricing lives for your specific profile.
Placerville has rural and semi-rural properties. Some appraise tricky. Conventional appraisal standards are stricter than FHA on property condition.
If you're buying a fixer or a property with well and septic, get a broker review before locking a program. Some lenders won't touch certain property types.
FHA lets you qualify with a 580 score and 3.5% down. But FHA charges mortgage insurance for the life of the loan in most cases. Conventional PMI drops off at 80% LTV.
Jumbo kicks in above conforming limits. Most Placerville purchases stay under that threshold — so conventional is the cleaner, cheaper structure for most buyers here.
El Dorado County properties often include acreage, outbuildings, or mixed-use land. These features affect appraised value and lender eligibility.
Placerville's older housing stock means condition issues can surface. A strong broker catches these before underwriting does — saving you time and locked-rate exposure.
Minimum is 620. Rates improve significantly at 740+. Most buyers we close in El Dorado County land in the 700-760 range.
Yes, but property condition and type matter. Lenders scrutinize rural features like well, septic, and acreage more closely.
PMI is required below 20% down. It cancels automatically once your loan balance drops to 80% of the home's value.
Usually yes, if your credit is above 680. Conventional PMI is temporary. FHA mortgage insurance typically lasts much longer.
El Dorado County falls under standard conforming limits set annually by the FHFA. Most Placerville purchases stay within those limits.
Typically 21-30 days with complete documentation. Rural properties or appraisal complexity can add time — plan accordingly.