Loading
Loading
Chester is in Plumas County, where the Treasure Canyon gold mine project is bringing new economic activity to the region. The county's median household income of $64,946 supports homes in the mid-range market.
The 2026 conforming limit for Chester is $832,750. Most local purchases fall well below that ceiling, making conventional financing straightforward.
620+
Minimum FICO
3% to 20%
Down Payment Range
$832,750
2026 Conforming Limit
$64,946
County Median Income
Community Mortgages in Chester
Community Mortgages typically require 620+ FICO and accept 3% to 20% down. With the county's median income of $64,946, most borrowers qualify for loans between $300,000 and $500,000.
Debt-to-income limits cap at 43% to 50% of gross income. A borrower earning $64,946 annually has roughly $2,700 monthly, supporting a housing payment of $1,160 to $1,350.
Local decision guide
Use this guide to connect community mortgages eligibility, lender expectations, and local market factors before comparing payment options in Chester.
Chester is in Plumas County, where the Treasure Canyon gold mine project is bringing new economic activity to the region. The county's median household income of $64,946 supports homes in the mid-range market.
The 2026 conforming limit for Chester is $832,750. Most local purchases fall well below that ceiling, making conventional financing straightforward.
Community Mortgages typically require 620+ FICO and accept 3% to 20% down. With the county's median income of $64,946, most borrowers qualify for loans between $300,000 and $500,000.
Community Mortgages are offered through retail banks and mortgage brokers across California. Brokers often move faster and shop multiple investors to find the best fit.
Underwriting typically runs 30 to 45 days from application to clear-to-close. Appraisal and title work happen in parallel, so the full process rarely exceeds 45 days.
Community Mortgages work best in Chester when you're buying below $500,000 with steady income. The program's flexibility on credit and down payment is real, but rates typically run slightly higher than conventional.
Above $600,000, conventional financing often beats Community Mortgages on rate. The sweet spot for this program is $250,000 to $450,000 where credit flexibility matters most.
FHA loans require 3.5% down but carry mortgage insurance for life if down payment is under 10%. Community Mortgages let you skip mortgage insurance at 20% down with competitive rates.
Conventional loans at 20% down have no mortgage insurance and typically the lowest rate. With less than 20% down and credit under 740, Community Mortgages often beat conventional on total monthly cost.
Feather River College's Upward Bound program sends Plumas County students to UC Davis for college exposure. That educational investment signals long-term community development and supports home values.
The new 2,000-acre state park along the Feather River brings outdoor recreation closer to Chester. Boat launches and riverside beach access make this region attractive to buyers who value outdoor lifestyle.
A 620 FICO is the typical minimum. Scores between 620 and 680 may carry higher rates. Above 740, you'll see the best pricing.
Yes — some programs accept 3% down. Your rate will be higher than at 5% or 10%, but you skip the mortgage insurance that FHA requires.
FHA requires 3.5% down but charges mortgage insurance for life if you put down less than 10%. Community Mortgages let you skip insurance at 20% down with better rates for 620–680 credit.
The 2026 conforming limit in Chester is $832,750. Most Community Mortgage programs follow that ceiling, though some lenders cap lower based on credit and down payment.
Underwriting typically takes 30 to 45 days from application to clear-to-close. Appraisal and title work run in parallel, so the full process rarely exceeds 45 days.