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Truckee sits in the Sierra Nevada at elevation. That alone shapes what lenders think about properties here.
Seasonal rentals, ski cabins, and second homes are common. Conventional loans handle all three — but terms differ by occupancy type.
620
Min Credit Score
3% (primary)
Min Down Payment
10% minimum
Second Home Down
Varies by profile
30-Year Fixed
45–50%
Max DTI
Conventional Loans in Truckee
Most conventional loans require a 620 minimum credit score. Better scores unlock better pricing.
Down payment starts at 3% for primary residences. Second homes typically require 10%, and investment properties 15-25%.
Local decision guide
Use this guide to connect conventional loans eligibility, lender expectations, and local market factors before comparing payment options in Truckee.
Truckee sits in the Sierra Nevada at elevation. That alone shapes what lenders think about properties here.
Seasonal rentals, ski cabins, and second homes are common. Conventional loans handle all three — but terms differ by occupancy type.
Most conventional loans require a 620 minimum credit score. Better scores unlock better pricing.
Not every lender handles mountain market properties well. Some flag Truckee homes for special review due to seasonal access or rental use.
HousingWire flagged the 30-year fixed at 6.57% with applications dropping sharply — that rate sensitivity matters here where price points are high. Rates vary by borrower profile and market conditions.
Truckee deals fail when borrowers underestimate second-home rules. If you stay there occasionally but rent it out, that's an investment property to lenders.
Appraisals here can come in tricky. Comparable sales are sparse in mountain markets. A low appraisal can kill a deal fast.
FHA loans require the property to be a primary residence. That disqualifies most Truckee buyers using it as a second home.
Jumbo loans kick in above conforming limits. If your purchase price exceeds Nevada County's limit, that's the path — but requirements are stricter.
Nevada County conforming loan limits determine whether you stay conventional or go jumbo. Know that number before you shop.
HOA fees are common in Truckee ski communities. Lenders include those in your debt-to-income calculation — budget accordingly.
Yes, but occupancy type matters. Second-home rates differ from primary rates, and you'll need at least 10% down.
Lenders require a minimum 620 score. Scores above 740 get the best pricing.
Yes, if your down payment is below 20%. PMI drops off once you reach 20% equity.
Rental income can help, but lenders have specific rules. Investment property designation affects your rate and down payment requirements.
Conforming limits set the ceiling for standard conventional pricing. Loans above that limit fall into jumbo territory with different guidelines.
Yes, but you'll need qualifying homeowners insurance. Some carriers have pulled back in high-risk zones — confirm coverage before closing.