California 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 $453,100*||VA loan||Primary Residence|
|Loan Amounts**||up to $1,000,000||VA loan||Primary Residence|
|0%||up to $453,100*||USDA loan||Primary Residence|
|3%||up to $453,100*||Home Possible®||Primary Residence|
|3%||up to $453,100*||HomeReady||Primary Residence|
|3.50%||up to $679,650***||FHA loan||Primary Residence|
|5%||up to $453,100*||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 $453,100*||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.
*The maximum conforming loan amount for the State of California varies by County and ranges from $453,100 to $679, 650. See below for a sample list of Southern California County loan limits. If your county is not included below, see the complete list of maximum conforming loan limits by county.
**VA Jumbo – The minimum down for a VA Jumbo is 25% of any amount over $453,100*.
***$679,650 is the max loan amount for FHA loans in Orange County. Please click here for a complete list of lending limits for FHA loans in all California counties.
Portfolio Condotel Loan Programs
For condominiums that have a registration desk and/or other features of a hotel, call RTC Mortgage for the best Portfolio Loan Program to fit the project you have identified.
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|
Government Loan Terms
Portfolio Loan Terms
Conventional Loan Terms
Choose your “conventional” fixed rate term. RTC Mortgage is able to offer you a 1 year to 30yr fixed rate mortgage.
In order to determine the maximum loan term for a leasehold property: Subtract 5 from the number of years remaining on the lease.
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.