Jumbo and home loans around Lake Tahoe and in the Sierra.

A loan above the county’s limit for the number of units in the home is a jumbo loan. It is the loan amount that counts, not the price of the home, so more money down can keep a loan at or under the limit. Jumbo loans are not sold to Fannie Mae or Freddie Mac, so each lender sets its own rules on income, savings and the property.

El Dorado, Nevada, Alpine, Plumas and Sierra counties follow the national baseline of $832,750 for a one-unit home, so there is no high-balance range here: a loan is either conforming or jumbo.

The calculator shows where a loan amount falls, and the Loan limits page has every California county.

Homes around Lake Tahoe and in the Sierra include second homes, cabins and condos as well as main homes. A second home is financed under different rules from a main home. Lenders generally expect it to be for your own use for part of the year, and a home that is mainly rented out is usually treated as an investment property, which has its own rules. Rules on short-term rentals differ from place to place, so check locally before you count on rental income.

With a condo, the lender reviews the building and its homeowners association as well as the buyer, and the association dues are added to the monthly housing cost when the lender works out what you can borrow. Condo financing is covered on the Loan options page.

Lenders require homeowners insurance, and proof of it is part of the lender’s file before a loan closes. In areas with wildfire risk it can take longer to arrange, so ask for insurance quotes early.