Question 1

What's the conforming loan limit in Plumas County for 2026?

Accepted Answer

The 2026 conforming limit is $832,750. VA loans also max out at $832,750. FHA caps at $541,287.

Question 2

Do I need 20% down to buy in Graeagle?

Accepted Answer

Yes — 20% down avoids PMI on conventional loans. FHA requires just 3.5% down with 580+ credit. VA buyers can put zero down.

Question 3

What credit score do I need to qualify?

Accepted Answer

Conventional loans typically want 620+. FHA accepts 580+ FICO. VA has no hard floor but most lenders prefer 620+.

Question 4

Is Plumas County an FHA high-cost area?

Accepted Answer

No. Plumas County is not designated as an FHA high-cost area. FHA limits apply at $541,287 for 2026.

Question 5

How much does PMI cost on a conventional loan?

Accepted Answer

PMI runs 0.5% to 1% of the loan amount annually. It cancels at 78% LTV automatically or 80% LTV on request.

Question 6

Can I use a VA loan if I'm a surviving spouse?

Accepted Answer

Yes. Surviving spouses of veterans who died in service can use VA benefits. You'll need a Certificate of Eligibility from the VA.

Question 7

What's the FHA upfront mortgage insurance premium?

Accepted Answer

FHA charges 1.75% upfront, rolled into the loan. If you put down less than 10%, MIP runs for life. With 10%+ down, MIP cancels after 11 years.

Question 8

Do VA loans have a funding fee?

Accepted Answer

Yes. VA funding fees replace PMI. First-time use at zero down is 2.15%. Veterans with 10%+ VA disability rating are exempt.

Question 9

How does the new state park near Yuba County affect Graeagle property values?

Accepted Answer

The 2,000-acre Feather River state park with boat launch and beach access boosts regional recreation appeal. Outdoor amenities support stable home values.

Question 10

What income do I need to qualify for a jumbo loan?

Accepted Answer

Jumbo loans above $832,750 typically require 700+ FICO and 20% down. You'll need six months of reserves. Income must support debt-to-income ratio.

Question 11

Can I get a USDA loan in Graeagle?

Accepted Answer

USDA loans are available in eligible rural areas of Plumas County. Income limits are set per household size. Zero down is possible if you qualify.

Question 12

How long does closing take in Plumas County?

Accepted Answer

Conventional closings typically take 30 to 45 days. FHA and VA run 40 to 60 days due to appraisal timelines. Smaller markets sometimes move slower.

Question 13

What property types qualify for financing in Graeagle?

Accepted Answer

Single-family homes, condos, and multi-unit properties up to four units all qualify. Vacation rentals have stricter requirements and higher rates.

Question 14

Can I carry two mortgages while buying in Graeagle?

Accepted Answer

Yes. You can carry two mortgages if your income supports both. Lenders will count the old payment against your debt-to-income ratio.

Graeagle mortgage questions answered