California Condo Loan Programs
RTC Mortgage specializes in Orange County condo loans. The following guide will help you to determine the minimum down and the corresponding loan programs available for your condo loan scenario.
- Minimum down
- Maximum loan amount
- Loan Program
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 $543,720***||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*.
***$543,720 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|
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.
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.