Condo Loan Programs2019-01-09T10:28:17-10:00

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

Hawaii Condo Loan Programs
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 $576,840*** 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* 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 $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*.

***$576,840 is the max loan amount for USDA loans in Honolulu County. Please click here for a complete list of lending limits for USDA loans in all Hawaii counties.

****$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

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.

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Toll Free: (866) 389-2778
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Kihei, HI 96753
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