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Graeagle sits in the Sierra Nevada foothills where $1.3M+ purchases are common for mountain homes and land. At 5.875%, a $1.1M jumbo loan carries a $6,507 monthly payment for principal and interest alone.
Jumbo lending in this price range demands tighter scrutiny than conventional loans. Lenders want 740+ FICO, 20% down minimum, and proof of reserves. The tradeoff: access to properties that conforming loans can't touch.
5.875%
Interest Rate
$6,507
Monthly P&I
740
Minimum FICO
20% ($275K)
Down Payment
45-60 days
Underwriting
Jumbo Loans in Graeagle
Jumbo loans in Graeagle start at 740 FICO and require 20% down. On a $1.375M purchase, that's $275,000 down and a $1.1M loan. Lenders also want 6-12 months of reserves in the bank after closing—proof you can handle the payment if income dips.
Plumas County's median household income is $64,946. A $1.375M home here is a luxury purchase, not a primary residence for the median earner. Jumbo buyers are typically second-home owners, investors, or high-income professionals from outside the county.
Local decision guide
Use this guide to connect jumbo loans eligibility, lender expectations, and local market factors before comparing payment options in Graeagle.
Graeagle sits in the Sierra Nevada foothills where $1.3M+ purchases are common for mountain homes and land. At 5.875%, a $1.1M jumbo loan carries a $6,507 monthly payment for principal and interest alone.
Jumbo lending in this price range demands tighter scrutiny than conventional loans. Lenders want 740+ FICO, 20% down minimum, and proof of reserves. The tradeoff: access to properties that conforming loans can't touch.
Jumbo loans in Graeagle start at 740 FICO and require 20% down. On a $1.375M purchase, that's $275,000 down and a $1.1M loan. Lenders also want 6-12 months of reserves in the bank after closing—proof you can handle the payment if income dips.
Jumbo lending in California is dominated by portfolio lenders and large banks. Smaller mortgage brokers often can't hold jumbo loans on their balance sheet, so they sell to correspondents or warehouse lenders.
Underwriting takes 45-60 days for jumbos because lenders order appraisals, tax returns, and bank statements manually. There's no automated approval. Retail banks (Wells Fargo, Bank of America) quote jumbos but often at higher rates than brokers can access.
Jumbo loans make sense in Graeagle when you're buying a second home or investment property above $832,750. The 5.875% rate here is competitive for the risk profile.
The real advantage of jumbo in Graeagle is access. You can't get a $1.1M conforming loan. If the property is worth $1.375M and you have 20% down, jumbo is your only path.
If your Graeagle property is below $832,750, conventional 30-year fixed is simpler and faster. You can put down 10-15% instead of 20%, and underwriting closes in 30 days instead of 45-60.
Above $832,750, jumbo is your only option. There's no FHA or VA path at this price. The 20% down requirement and reserve cushion are structural—not negotiable. But you get a fixed rate locked for 30 years with no mortgage insurance ever.
Graeagle is a mountain community in Plumas County with limited inventory and seasonal demand. Most jumbo buyers here are purchasing second homes or investment properties for the Sierra lifestyle.
Plumas County's population is 19,607. That's small enough that local real estate moves slowly but large enough to support a stable market. Buyers in this price range are often relocating from the Bay Area or Sacramento for mountain living.
At 5.875% on a $1.1M loan, principal and interest run $6,507 per month. That's before taxes, insurance, and HOA fees. The full scenario: $1.375M purchase, $275K down (20%), 740 FICO, primary residence, 30-day lock, as of April 17, 2026.
Yes. Jumbo lenders require 20% down minimum. On a $1.375M purchase, that's $275,000. Some lenders offer 15% down jumbo programs, but they're rare and carry higher rates. Most jumbo buyers put 20-25% down.
45-60 days is typical. Jumbo lenders order appraisals, tax returns, and bank statements manually—no automated approval. Conventional loans close in 30 days. The extra time is the cost of accessing properties above the $832,750 conforming limit.
740 FICO minimum. Most jumbo lenders won't touch anything below 740. If you're at 700-739, you'll need a co-borrower with higher credit or a larger down payment to offset the risk.
Yes, but rates run 0.25-0.5% higher for investment properties than primary residences. Down payment stays at 20% minimum. Lenders want proof of rental income or reserves to cover 6-12 months of mortgage payments if the property sits vacant.