— BUYING A CONDO
Buying a Condo
Or Condotel
Pacific Home Loans offers condo financing options for primary residences, second homes, and eligible investment properties.
— ABOUT BUYING A CONDO
Buying a Condo
or Condotel
Pacific Home Loans provides condo financing solutions across all of our licensed markets, with deep experience in vacation destination and resort communities. In Hawaii, we serve buyers across Maui, Oahu, Kauai, and the Big Island. Whether you are purchasing a primary residence, second home, or investment property, understanding your financing options early can help prevent delays during escrow.
Resort and vacation destination condos come with unique financing considerations – from warrantability and owner-occupancy ratios to short-term rental restrictions and HOA structure. Our team is experienced in navigating these requirements across multiple markets, not just Hawaii.
We serve buyers across a full range of price points and condominium classifications, subject to program eligibility and underwriting guidelines.
Whether your purchase is a beachfront unit in Maui, a high-rise in Las Vegas, or a coastal property in California, the financing concepts outlined on this page apply broadly. Program availability, loan limits, and eligibility requirements vary by state, project, and borrower profile.
— FINANCING OPTIONS
Condo
Financing Options
Conventional Condo Financing
• Down payments as low as 3% for eligible owner-occupied buyers
• 5% down payment options commonly available for primary residences
• Fixed and adjustable-rate options available
• Competitive pricing for qualified borrowers
FHA Condo Loans
• 3.5% down payment option for eligible borrowers
• Project must meet FHA approval guidelines or qualify under permitted exceptions
→ FHA Loan
VA Condo Loans
• Zero down financing available for eligible veterans
• Condo project must meet VA approval requirements
→ VA Loan
Down Payment Assistance Programs
Eligible buyers may qualify for approved down payment assistance programs offering reduced or zero-down payment options. Program availability depends on borrower eligibility and funding guidelines.
— LOAN OPTIONS
Understanding Condo
Project Approval
Condominium financing requires review of the entire project – not just the individual unit. Common review factors include:
- HOA financial strength and reserves
- Owner-occupancy ratios
- Insurance coverage
- Litigation exposure
- Commercial space allocation
- Warrantable vs. non-warrantable classification
Understanding these elements early helps prevent surprises during underwriting.
Non-Warrantable & Resort Condo Financing
Some condominiums, particularly in resort-designated or condotel markets common in Hawaii, may not qualify under standard agency guidelines. Examples may include high investor concentration, short-term rental activity, condotel designations, unique insurance structures, or active litigation.
Specialized non-warrantable condo financing may be available.
This page focuses on general condo loan options. For structured resort and condotel financing, visit the PrimeResort™ page.
→ PrimeResort™ Condo Financing
Investment & Second-Home Condo Financing
Financing requirements differ depending on occupancy. Options may include conventional second-home programs, higher down payment investment property financing, and alternative income qualification for eligible borrowers.
For buyers using bank statements, 1099 income, or rental income qualification:
→ Non-QM Mortgage Programs
For higher-value or complex condominium transactions requiring additional structuring:
→ Portfolio Loans & Flexible Financing Solutions
— HOME PURCHASE LOANS
How Condo Financing Fits Into
the PHL Lending Platform
Agency Condo Financing – used when projects meet standard guidelines
↓
PrimeResort™ Condo Financing – used for non-warrantable and resort-designated properties
↓
Portfolio Lending Solutions – used for high-value or complex transactions requiring advanced structuring
— COMMON QUESTIONS
Buying a Condo
FAQ
Have a question not answered here? Our team is available to walk through your specific scenario.
