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Graeagle sits in Plumas County's tight mountain real estate market. The county's median household income of $64,946 shapes what buyers can afford here. Community Mortgages bring local lending expertise to this remote area.
Plumas County has a population of 19,607 spread across alpine terrain. Homes here serve year-round residents and seasonal buyers. Local lenders understand the unique financing needs of mountain communities.
620
Minimum FICO
3%
Minimum Down
50%
Max DTI
$832,750
2026 Conforming Limit
30–45 days
Typical Closing
Community Mortgages in Graeagle
Community Mortgages typically require a 620+ FICO score and 3% down minimum. Most lenders in this program accept debt-to-income ratios up to 50%. The county's median household income of $64,946 supports purchases in the $300,000 to $450,000 range comfortably.
Documentation is straightforward: two years of tax returns, recent pay stubs, and bank statements. Self-employed borrowers need two years of business returns. Closing timelines run 30 to 45 days in mountain markets where appraisals take longer.
Local decision guide
Use this guide to connect community mortgages eligibility, lender expectations, and local market factors before comparing payment options in Graeagle.
Graeagle sits in Plumas County's tight mountain real estate market. The county's median household income of $64,946 shapes what buyers can afford here. Community Mortgages bring local lending expertise to this remote area.
Plumas County has a population of 19,607 spread across alpine terrain. Homes here serve year-round residents and seasonal buyers. Local lenders understand the unique financing needs of mountain communities.
Community Mortgages typically require a 620+ FICO score and 3% down minimum. Most lenders in this program accept debt-to-income ratios up to 50%. The county's median household income of $64,946 supports purchases in the $300,000 to $450,000 range comfortably.
Community Mortgages operate through local and regional lenders who understand rural California. These programs prioritize accessibility over strict overlays.
Retail lenders and mortgage brokers both offer Community Mortgages here. Brokers typically close faster because they shop multiple lenders. Retail branches in Plumas County are sparse, so remote closing (DocuSign, electronic signatures) is standard.
Community Mortgages make sense in Graeagle when a buyer has stable income and 3% to 5% saved. The program's flexibility on credit and debt ratios opens doors for self-employed mountain residents.
Community Mortgages don't work well for investors or second homes. The program requires owner-occupancy. For primary residences under $541,287 with modest down payments, this program beats conventional pricing.
FHA loans run lower rates than Community Mortgages but carry lifetime mortgage insurance. Community Mortgages allow PMI cancellation at 80% LTV.
Conventional loans require 20% down to skip PMI entirely. Most Graeagle buyers don't have that much saved. Community Mortgages bridge the gap between FHA's insurance burden and conventional's down-payment wall.
Graeagle's mountain location means appraisals take longer and property inspections reveal seasonal issues. Lenders here expect foundation reports and roof inspections. Community Mortgages allow time for these specialized assessments.
Winter weather affects closing timelines. Snow can delay inspections and appraisals by weeks. Lenders familiar with Plumas County build that into their 30 to 45-day estimates.
Most lenders accept 620+ FICO. Some community banks go as low as 580 with compensating factors like savings or a co-signer. Call for your specific lender's floor.
No. With 3% down, PMI applies. It cancels when you reach 80% LTV through payments or a refi. FHA also requires mortgage insurance with 3% down.
Plan 30 to 45 days. Mountain appraisals and inspections take longer. Winter weather can add another week or two. Remote closing speeds up the final steps.
No. W-2 employees qualify the same way. Self-employed borrowers need two years of tax returns. Community Mortgages are flexible on income documentation compared to conventional loans.
The 2026 conforming limit is $832,750. Community Mortgages follow conforming rules, so anything above that requires a jumbo loan with stricter terms.