California Condo Loan Programs
RTC Mortgage specializes in helping our clients get affordable condo loans anywhere in Orange County. We can also work with you on properties anywhere in the State of California.
New! Lower rates available on vacation rental condos. Scroll down for more information.
• Veterans – Zero down programs available!
• USDA loans with nothing down!
• 3% and 3.5% down payment programs available!
• First time buyers!
• Investor programs available!
• Jumbo loans – up to $20 million for qualified borrowers!
• Reverse Mortgages
There are a number of issues specific to condo mortgages that you should be aware of. Our Orange County condo mortgage experts can help you navigate the process. We will help you understand your options and match you with the right mortgage for your individual, specific situation.
“Rick, nice job on the mortgage. It was a great experience for us… Channa, you did a wonderful job. It was a pleasure dealing with you. I appreciate your patience in regard to me being out of the country during much of the process. I hold you and Rick in high regard and will consider you first when I contemplate a refinance in a couple of years. You are great at what you do.”
– Paul G., Real estate investor, Laguna Beach
There are many programs available for Orange County condo buyers, and lots of options.
While no Web page is a substitute for a detailed application and interview with one of our Orange County mortgage experts, here’s a guide to help you quickly grasp the basics, along with what down payment requirement you can expect with each program.
The following guide will help you to determine the minimum down and the corresponding loan programs available for your condo loan scenario.
Orange County, California Condominium loan programs – Non-vacation rental
|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 $581,220***||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 $726,525****||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.
*The maximum conforming loan amount for the State of California varies by County and ranges from $484,350 to $726,525. 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 $484,350*.
***$581,220 is the max loan amount for USDA loans in Orange County. Please click here for a complete list of lending limits for USDA loans in all California counties.
****$726,525 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.
Orange County 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|
Loan Programs Available
RTC Mortgage, DBA OrangeCountyHomeLoans.com, is your Orange County home loan specialist. Contact us today to inquire about or apply for any of these affordable home loan programs:
Portfolio Jumbo Loans
$484,351 and up.
VA home loans
USDA home loans
FHA home loans
Non-agency and non-government
Loan Terms Available
Government Loan Terms
• VA/FHA Loans
Conventional Mortgage Loan Terms
Portfolio Loan Terms
• 30-year fixed
• 15-year fixed
• 10-year ARM
• 7-year ARM
• 5-year ARM
• 3-year ARM
• 1-year ARM
California 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.
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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