State of Hawaii Condo Loan Programs

NEW!! Pacific Home Loans is now offering in-house funding on condotels. Our exclusive program allows you to finance a condotel as a second home, and provided that you reside in the unit a minimum of 14 days per year (some restrictions apply), you are permitted to rent the unit immediately following closing. It is even acceptable to honor future bookings on your purchase contract!

Hawaii Condo Loan Programs

For borrowers for whom the in-house, conventional, or government condo loan programs are not a good fit, we also offer the option of Portfolio Condotel Loans.

The following tables 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 – Conventional and Government
Condotel Loan Programs
Funded by Pacific Home Loans

Minimum Down Maximum Loan Loan Program Occupancy
0% up to $726,525* VA loan Primary Residence
Loan amounts** up to $1,000,000 VA loan Primary residence
0% up to $726,525*** USDA loan Primary Residence
3% up to $726,525* Home Possible® Primary Residence
3% up to $726,525* HomeReady Primary Residence
3.50% up to $721,050**** FHA loan Primary Residence
5% up to $726,525* Pacific Home Loans Condotel Primary Residence
5% up to $726,525* 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
10% up to $726,525* Pacific Home Loans Condotel Second Home
10% up to $726,525* Conventional Second Home
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 $726,525* Pacific Home Loans Condotel Investor
20% up to $726,525* 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.

*$726,525 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 $726,525*.

***$726,525 is the max loan amount for USDA loans for the State of Hawaii.

****$721,050 is the max loan amount for FHA loans in Honolulu 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

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.

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Tel: (808) 891-0415
Toll Free: (866) 389-2778
2395 S Kihei Rd #205
Kihei, HI 96753
Hours: M-F 8am to 5pm Hawaii Time