Condo Loan Programs2018-11-11T21:12:54+00:00

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 DownMaximum LoanLoan ProgramOccupancy
0%up to $453,100*VA loanPrimary Residence
Loan Amounts**up to $1,000,000VA loanPrimary Residence
0%up to $453,100*USDA loanPrimary Residence
3%up to $453,100*Home Possible®Primary Residence
3%up to $453,100*HomeReadyPrimary Residence
3.50%up to $679,650***FHA loanPrimary Residence
5%up to $453,100*ConventionalPrimary Residence
5%up to $2,500,000Portfolio No MIPrimary Residence
20%up to $2,000,000Portfolio JumboPrimary Residence
25%up to $2,500,000Portfolio JumboPrimary Residence
30%up to $3,000,000Portfolio JumboPrimary Residence
40%up to $4,000,000Portfolio JumboPrimary Residence
20%up to $1,000,000Portfolio JumboSecond Home
25%up to $1,500,000Portfolio JumboSecond Home
30%up to $2,000,000Portfolio JumboSecond Home
40%up to $4,000,000Portfolio JumboSecond Home
20%up to $453,100*ConventionalInvestor
25%up to $1,000,000Portfolio JumboInvestor
30%up to $1,500,000Portfolio JumboInvestor
35%up to $2,000,000Portfolio JumboInvestor

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.

CondoRegistration DeskMinimum Down
Vacation rental condosNo5% primary residence
Vacation rental condosNo10% second home
Vacation rental condosNo20% investment property
CondotelsYes30% down

Loan Terms

Government Loan Terms
VA/FHA
30yr fixed
15yr fixed
5/1 ARM

USDA
30yr fixed

Portfolio Loan Terms
30yr fixed
15yr fixed
10yr ARM
7yr ARM
5yr ARM
3yr ARM
1yr ARM

Conventional Loan Terms
30yr fixed
15yr fixed
10yr ARM
7yr ARM
5yr ARM
3yr ARM

Choose your “conventional” fixed rate term. RTC Mortgage is able to offer you a 1 year to 30yr fixed rate mortgage.

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.