Hawaii and California Condo Loan Programs

Both Conventional and Government loans are considered Agency Loans because they are backed by one of the following government agencies:

  • Federal National Mortgage (Fannie Mae)
  • Federal Home Loan Mortgage Corp. (Freddie Mac)
  • Government National Mortgage Association (Ginnie Mae)

A Conforming Conventional Loan is one that is saleable to Fannie Mae or Freddie Mac with a loan amount up to the conforming limit, which is $970,800 throughout the state of Hawaii and $647,200 in most California counties. Once the loan amount exceeds the conforming limit, it becomes a Jumbo loan. Conforming Conventional loans are available in terms of 15-year and 30-year fixed and 3-year to 7-year Adjustable Rate Mortgages (ARMs).

Government Loans are saleable to Ginnie Mae and include the following loan categories: VA loans, FHA loans, and USDA loans. There is a variety of loan terms available for Government loans – inquire when you speak with you Pacific Home Loans Loan Officer for more detailed information.

Non-Agency Loans, those loans that are not backed by Freddie, Fannie, or Ginnie, are called Portfolio Loans. These loans are available for financing when a loan scenario does not fit within the Agency guidelines. Pacific Home Loans is able to extend these loan programs in terms of 15-year and 30-year fixed and 1-year to 10-year Adjustable Rate Mortgages (ARMs).

Your Pacific Home Loans Loan Officer will be able to guide you in selecting the loan program and term that is best for you.

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

  • Minimum Down
  • Maximum Price
  • Loan Program

Primary Residence

Minimum Down Maximum Price* Loan Program
0% $2,500,000 VA Loan
0% $725,000 USDA
3% $1,000,825 HomePossible
3% $1,000,825 HomeReady
3.5% $858,031 FHA
5% $1,021,895 Conventional
10% $1,666,667 Portfolio No MI
20% $3,750,000 Portfolio
25% $6,666,667 Portfolio
30% $7,142,858 Portfolio
20% $1,250,000 Condotel
25% $2,000,000 Condotel
30% $2,857,142 Condotel
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Second Home

Minimum Down Maximum Price* Loan Program
10% $1,078,667 Conventional
10% $1,666,667 Portfolio No MI
20% $3,750,000 Portfolio
25% $6,666,667 Portfolio
25% $1,133,333 Condotel
30% $2,142,857 Condotel
35% $3,076,923 Condotel

Investor

Minimum Down Maximum Price* Loan Program
20% $1,562,500 In-House
30% $2,857,142 In-House

*Maximum Purchase Price based on Maui County loan limits.

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State of Hawaii Loan Limits

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

State of Hawaii Agency and VA Conforming Loan Limits

1 Unit 2 Units 3 Units 4 Units
$970,800 $1,243,050 $1,502,475 $1,867,275

State of Hawaii FHA Loan Lending Limits

County 1 Unit 2 Units 3 Units 4 Units
Hawaii (Hilo, HI) $477,250 $610,950 $738,500 $917,800
Honolulu (Urban Honolulu) $747,500 $956,950 $1,156,700 $1,437,500
Kalawao (Non-Metro) $828,000 $1,060,000 $1,281,300 $1,592,350
Kauai (Kapaa, HI) $845,250 $1,082,100 $1,308,000 $1,625,500
Maui (Kahului – Wailuku – Lahaina, HI) $828,000 $1,060,000 $1,281,300 $1,592,350

USDA Area Loan Limits for the State of Hawaii

$600,000 Hawaii County
$725,000 Honolulu County
$725,000 Kauai County
$578,600 Maui County – Molokai
$725,000 Maui County

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State of California Loan Limits

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

State of California Agency and VA Conforming Loan Limits

County 1 Unit 2 Units 3 Units 4 Units
Kern $647,200 $828,700 $1,001,650 $1,244,850
Nevada $647,200 $828,700 $1,001,650 $1,244,850
Orange $970,800 $1,243,050 $1,502,475 $1,867,275
Placer $675,050 $864,200 $1,044,600 $1,298,200
Riverside $647,200 $828,700 $1,001,650 $1,244,850
San Diego $879,750 $1,126,250 $1,361,350 $1,691,850

If your county is not included above, see the complete list of Agency and VA maximum conforming loan limits by county.

State of California FHA Loan Lending Limits

County 1 Unit 2 Units 3 Units 4 Units
Kern $420,680 $538,650 $651,050 $809,150
Nevada $609,500 $780,250 $943,150 $1,172,150
Orange $970,800 $1,243,050 $1,502,475 $1,867,275
Placer $675,050 $864,200 $1,044,600 $1,298,200
Riverside $562,350 $719,900 $870,200 $1,081,450
San Diego $879,750 $1,126,250 $1,361,350 $1,691,850

If your county is not included above, see the complete list of FHA maximum conforming loan limits by county.

USDA Area Loan Limits for the State of California

$345,100 Kern County
$466,500 Nevada County
$657,900 Orange County
$486,400 Placer County
$460,000 Riverside County
$615,000 San Diego County

If your county is not included above, see the complete list of California USDA Area Loan Limits loan limits by county.