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Mammoth Lakes sits at 11,000 feet where mountain homes command $937,500 median prices. At 5.875%, a $750,000 conforming loan runs $4,437 monthly for principal and interest alone. That's the baseline for a 20% down purchase here.
The conforming limit in Mono County is $832,750, which covers most primary residences in town. Buyers with solid credit and 20% down find straightforward underwriting and closing in 30-45 days. The rate environment favors locking now if you're ready to move.
5.875%
Interest rate
$4,437
Monthly P&I
620
Min FICO
$750,000
Loan amount
20% ($187,500)
Down payment
30-45 days
Closing timeline
Conforming Loans in Mammoth Lakes
Conforming loans in Mammoth Lakes require a 620 FICO minimum, though 740+ gets the best pricing. You'll need 3-20% down; 20% down eliminates PMI entirely.
Lenders verify employment, assets, and reserves. Two months of mortgage payments in savings is standard. Self-employed buyers need two years of tax returns.
Local decision guide
Use this guide to connect conforming loans eligibility, lender expectations, and local market factors before comparing payment options in Mammoth Lakes.
Mammoth Lakes sits at 11,000 feet where mountain homes command $937,500 median prices. At 5.875%, a $750,000 conforming loan runs $4,437 monthly for principal and interest alone. That's the baseline for a 20% down purchase here.
The conforming limit in Mono County is $832,750, which covers most primary residences in town. Buyers with solid credit and 20% down find straightforward underwriting and closing in 30-45 days. The rate environment favors locking now if you're ready to move.
Conforming loans in Mammoth Lakes require a 620 FICO minimum, though 740+ gets the best pricing. You'll need 3-20% down; 20% down eliminates PMI entirely.
California's conforming market is split between retail banks, credit unions, and mortgage brokers. Brokers like ours access multiple wholesale lenders, which typically beats a single bank's pricing by 0.125-0.25%.
Closing timelines run 30-45 days for conforming loans statewide. Appraisals are required and take 7-10 days. Title work is straightforward in Mono County. Rates lock for 30 days; if you need more time, 45-day locks cost slightly more.
Conforming loans make sense in Mammoth Lakes when you have 20% down and a 740+ FICO. At $750,000, you're right at the sweet spot where conforming pricing beats jumbo by 0.25-0.5%. The $832,750 conforming limit gives you room to go higher if needed.
Where conforming doesn't pencil: if you're putting 5-15% down, FHA's lower rate and 3.5% minimum down might save you money despite lifetime mortgage insurance. Call for FHA pricing to compare.
FHA loans in Mammoth Lakes run a lower rate than conforming but carry mortgage insurance for life if you put down less than 10%. At 15% down ($140,625), FHA's rate advantage shrinks because the insurance stays.
Jumbo loans above $832,750 require 20% down, 700+ FICO, and six months reserves. Rates run 0.25-0.5% higher than conforming. If your purchase stays under the limit, conforming wins on rate and simplicity.
Mammoth Lakes draws buyers for skiing, hiking, and year-round mountain recreation. The town's small population of 13,169 means tight-knit community and lower property turnover.
Altitude and weather create unique appraisal and insurance considerations. Lenders factor in seasonal vacancy (ski season rentals) and avalanche zones. Disclosure and title work take longer here than in the valley. Budget extra time for these local realities.
At 5.875% APR on a $750,000 loan, principal and interest run $4,437 monthly. Add property taxes, insurance, and HOA fees on top. The full scenario: $937,500 purchase, $187,500 down (20% LTV), 740 FICO, 30-day lock, priced April 9, 2026.
Yes — 20% down (80% LTV) is the only way to skip PMI on a conforming loan. Put down 15% and you'll carry PMI until you hit 78% LTV through appreciation or extra payments. At 20%, there's no PMI and no rate penalty.
The minimum is 620 FICO, but 740+ gets the best rates and terms. At 740, you qualify for the pricing shown here. Below 680, expect rate adjustments and tighter underwriting. Lenders pull all three credit bureaus.
Conforming loans close in 30-45 days in Mono County. Appraisals take 7-10 days. Title work is standard. If you lock a 30-day rate, you have time to spare. Seasonal weather can slow appraisals in winter.
FHA runs a lower rate but charges mortgage insurance for life if you put down less than 10%. At 15% down, conforming's no-PMI advantage at 20% down beats FHA's rate savings. Call for FHA quotes to compare your specific scenario.