• State of Hawaii Condo Loan Programs


    The following guide will help you to determine the minimum down and the corresponding loan programs available for your loan scenario.

    • Minimum down
    • Maximum loan amount
    • Loan Program

    Condominium loan programs – Non-vacation rental

    Minimum Down Maximum Loan Loan Program Occupancy
    0% up to $679,650* VA loan Primary Residence
    Loan amounts** up to $1,000,000 VA loan Primary residence
    0% up to $679,650* USDA loan Primary Residence
    3% up to $679,650* Home Possible® Primary Residence
    3% up to $679,650* HomeReady Primary Residence
    3.50% up to $657,800*** FHA loan Primary Residence
    5% up to $679,650* Conventional Primary Residence
    5% up to $2,500,000 Portfolio No MI Primary Residence
    20% up to $2,000,000 Portfolio Jumbo Primary Residence
    25% up to $2,500,000 Portfolio Jumbo Primary Residence
    30% up to $3,000,000 Portfolio Jumbo Primary Residence
    40% up to $4,000,000 Portfolio Jumbo Primary Residence
    20% up to $1,000,000 Portfolio Jumbo Second Home
    25% up to $1,500,000 Portfolio Jumbo Second Home
    30% up to $2,000,000 Portfolio Jumbo Second Home
    40% up to $4,000,000 Portfolio Jumbo Second Home
    20% up to $679,650* Conventional Investor
    25% up to $1,000,000 Portfolio Jumbo Investor
    30% up to $1,500,000 Portfolio Jumbo Investor
    35% up to $2,000,000 Portfolio Jumbo Investor

    Loan amounts up to $20,000,000 are available on a case-by-case basis.

    *$679,650 is the max conforming loan the State of Hawaii.
    County loan limits apply for all islands. Scroll to the bottom of the Home Loan Programs page, or click here, to view maximum conforming limits.

    ** VA Jumbo - The minimum down for a VA Jumbo is 25% of any amount over $679,650*.

    ***$657,800 is the max loan amount for FHA loans in Maui County. Please click here for a complete list of lending limits for FHA loans in all Hawaii counties.


    Portfolio Condotel Loan Programs

    Minimum Down Maximum Loan Loan Program Occupancy
    20% up to $850,000 Portfolio Primary Residence / Second Home
    25% up to $1,000,000 Portfolio Primary Residence / Second Home
    30% up to $1,500,000 Portfolio Primary Residence / Second Home
    35% up to $2,000,000 Portfolio Primary Residence / Second Home
    30% up to $1,500,000 Portfolio Investor
    35% up to $2,000,000 Portfolio Investor


    NEW: 
    Vacation Rental Condos - Lower Down Payments Available
    Vacation rental condos that do not have a registration desk may be eligible for as little as 5% down.

    Condo Registration Desk Minimum Down
    Vacation rental condos No 5% primary residence
    Vacation rental condos No 10% second home
    Vacation rental condos No 20% investment property
    Condotels Yes 30% down


    Government Loan Terms

    VA/FHA
     30yr fixed
     15yr fixed
     5/1 ARM

    USDA
    30yr fixed

    Conventional Loan Terms
    30yr fixed
    15yr fixed
    10yr ARM
    7yr ARM
    5yr ARM
    3yr ARM

    Choose your "conventional" fixed rate term. PHL is able to offer you a 1 year to 30yr fixed rate mortgage.

    Portfolio Loan Terms
    30yr fixed
    15yr fixed
    10yr ARM
    7yr ARM
    5yr ARM
    3yr ARM
    1yr ARM

    Leasehold properties:
    In order to determine the maximum loan term for a leasehold property: Subtract 5 from the number of years remaining on the lease.

    For example:
    35 years remaining on lease
    35 – 5 = 30
    The maximum term for this scenario is 30 years.

    25 years remaining on lease
    25 – 5 = 25
    The maximum term for this scenario is 20 years.