PHL ResortPrime Condo Program
The New Standard for Financing Resort-Style and Non-Warrantable Condominiums
Financing a resort-area condominium isn’t always straightforward. Many buildings across Hawaii, Nevada, and other high-demand markets include features such as mixed-use components, hotel adjacency, unique insurance structures, or elevated commercial space percentages – all of which can cause traditional lenders to deny financing.
Pacific Home Loans (PHL) approaches condo lending differently.
Since 2007, PHL has provided financing on every condo classification, giving buyers and Realtors nearly two decades of experience navigating complex condo projects — from warrantable to non-warrantable, mixed-use, resort-style, and buildings located in high-tourism corridors.
That experience is now elevated through the PHL ResortPrime Condo Program, our premier prime-priced solution for financing resort-style and non-warrantable condos. ResortPrime provides expanded flexibility, competitive pricing, and a broader path to approval for projects that fall outside traditional Agency warrantability requirements.
Oceanfront resort-style condos in Hawaii often feature amenities and building designs that benefit from flexible financing solutions like PHL’s ResortPrime program.
What Makes PHL ResortPrime Different?
ResortPrime is built around one guiding principle:
If a condo is functional, market-accepted, and not a true condotel, PHL can usually lend on it.
This program removes many of the rigid Agency restrictions around reserves, occupancy, commercial ratios, and insurance structures, allowing PHL to approve a significantly wider range of properties in Hawaii, Nevada, and other resort-driven states.
ResortPrime Supports:
- Second homes
- Investment properties
- Projects with high commercial use
- Buildings attached to hotels (with required structural separation)
- Resort-style amenities such as concierge service, spas, golf, pools, and recreational facilities
This approach better reflects how condos operate in resort-oriented markets across the West, providing flexibility where Agency programs restrict.
PHL ResortPrime Condo Matrix
Loan Amounts & LTV
- Up to $2M: 80% LTV
- Up to $3M: 75% LTV
- Above $3M: 70–75% LTV depending on borrower profile
Eligible Occupancy Types
- Second homes
- Investment properties
(Primary residences are ineligible under resort-style condo classifications.)
Loan Purposes
- Purchases
- Rate-and-term refinances
(Cash-out refinances not permitted for resort-style condo designations.)
Unit Requirements
- Minimum 400 sq. ft.
- Full kitchen
- No rental pooling or mandatory hotel participation
- No blackout dates
Expanded Project Flexibility
- Up to 70% commercial use for condo projects attached to hotels
- Up to 50% commercial use for non-hotel resort-style buildings
- Hotel-adjacent buildings permitted if:
- They have a separate HOA
- A separate entrance
- CC&Rs clearly define residential vs. hotel operations
Insurance Flexibility
ResortPrime allows significantly broader insurance features than Agency lending, including:
- ACV roof coverage
- Per-unit deductibles up to $50,000
- Sublimits accepted with appropriate carrier modeling (From Condo/Co-op Insurance Enhancements, Nov 12, 2025)
What Is Not Eligible? (Condotel Red Flags)
ResortPrime is flexible, but it is not a condotel financing program. A project is generally considered a condotel if it includes:
- Hotel operator control over units
- Restricted or scheduled personal use
- Mandatory hotel rental programs
- Hotel-run housekeeping or centralized services
- Units under 400 sq. ft.
Most condos in Hawaii and Nevada do not meet condotel classification, meaning ResortPrime is a viable option for a wide range of properties in both states.
Nevada resort markets—especially in Las Vegas—include many non-warrantable and mixed-use condo projects ideal for ResortPrime financing.
Why PHL Uses ResortPrime as the Starting Point in Every Condo Consultation
✔ Wider Path to Approval
Minimal ineligible project characteristics = more condos approved.
✔ Faster, More Predictable Underwriting
Projects that fail Agency reviews often pass ResortPrime’s expanded criteria.
✔ Better Offer Competitiveness
Prime-level Non-Agency pricing supports buyers in competitive resort markets.
✔ Broader Condo Inventory
Buyers are not restricted to warrantable buildings — a major advantage in Hawaii, Nevada, and other tourism-driven real estate markets.
Once ResortPrime eligibility is determined, PHL can immediately transition buyers into any alternative program within its broad lending platform.
The PHL Condo Financing Waterfall
One Lender. Every Condo Solution.
PHL offers one of the most comprehensive condo financing platforms in the western United States, with deep expertise in Hawaii and Nevada markets.
Tier 1: PHL ResortPrime
Prime-priced Non-Agency program for resort-style & non-warrantable condos.
Tier 2: Agency (Fannie Mae & Freddie Mac)
Best pricing when warrantability standards are met.
Tier 3: PHL Jumbo & Portfolio Lending (Up to $30M)
- Ideal for luxury condos and complex financial scenarios.
Loan amounts up to $30 million - Cross-collateralization
- Pledged asset programs
- Asset-based income structures
- Expanded investor & second-home options
- Flexible condo eligibility beyond Agency limits
Tier 4: PHL Non-QM & Alternative Qualification
Options for bank-statement borrowers, investors, and self-employed clients.
- Bank statement income
- Asset depletion
- DSCR / Investor Cash Flow
- Expanded ratio flexibility
- Complex self-employed structures
Tier 5: VA / FHA / USDA
For eligible buyers and qualifying properties.
Tier 6: Condotel & Hotel-Zoned Specialty Lending
Even when a condo is a true condotel, PHL provides tailored solutions.
Mountain and ski-area condos in states like Colorado often fall outside strict Agency guidelines, making ResortPrime a strong fit for second homes and investments.
Final Thoughts
Condo markets across Hawaii, Nevada, and other resort-oriented states are diverse, complex, and in high demand. With the PHL ResortPrime Condo Program and our in-house portfolio of Jumbo, Agency, and Non-QM solutions, Pacific Home Loans provides the flexibility, expertise, and creativity needed to approve more buyers in more buildings.
PHL has been lending on every condo classification since 2007, and our ResortPrime program continues that leadership by giving buyers and Realtors a competitive, streamlined path to financing the condos that define Hawaii’s resort and mixed-use markets.
When you’re ready to navigate a complex condo purchase, start with ResortPrime and start with Pacific Home Loans.
📞 Contact us today to speak with a Pacific Home Loans loan officer!
