Loan Options

PARTNER WITH A LOCAL MORTGAGE ADVISOR in Funding Your Residential Property

Makai Mortgage offers a variety of personalized loan options whether you’re a first-time homebuyer or you’re looking to buy a second home. On this page, I provide you with information about our most popular products and the options you can work with when purchasing condo or condotel type of properties.

Makai Mortgage
Makai Mortgage

Loan Options

You can find the right mortgage program that fits your needs through my offers. Check out more information about my loan options.

Conventional Loans

This is a loan that is backed by private lenders. Clients pay a fixed rate that is also customizable depending on their financial capabilities.

Jumbo Loans

Also known as a jumbo mortgage, this loaning option is applicable when the borrowed amount exceeds the FHFA limit.

Government Loans

Federal Housing Administration (FHA), United States Department of Agriculture (USDA), and Veterans Administration (VA) are the three types of government-backed mortgages. Compared to private lenders, these programs offer lower interest rates for potential borrowers.

First-Time Homebuyers

Clients belonging to this category can often qualify for different loan benefits such as low government assistance on closing costs, grants, and low down payments.

Condo or Condotel Options

Unlike in other locations in the country, condos and condotels in Hawaii differ significantly because of their unique characteristics. This is why most mainland lenders are not equipped to transact mortgages for most of the condominium-type properties here. You should also be aware that there are cases when mainland banks cannot lend on the properties and are only recognized long after the loan was “approved.”

Property Classifications

When shopping for a condo in Hawaii, you will encounter three different classifications. The required down payment and interest rate available to you will depend greatly upon which category the condo of your dreams happens to fall into.

Warrantable Condominium

Having a warrantable condo means that it has met agency guidelines. The agency loan programs are Fannie Mae, Freddie Mac, and government programs such as VA, FHA, and USDA.

There are a variety of factors that are taken into consideration in assessing if a condo is financeable. These include the following:

  • Property Vacation Rentals

    Leases of less than six months are considered short-term or vacation rental.

  • Available or Obtainable Documents

    Completion of property documents such as the RR105C form is crucial in having a property be considered “warrantable.” There are potential issues that can arise from the RR105C form or condo questionnaire as it may be financed by one of our propriety and non-warrantable condo loan programs.

Non-Warrantable Condominium

These are the type of condos that aren’t eligible for the agency loan programs stated above. If your project doesn’t meet the criteria set by the agency, I can offer you a propriety condo loan at a competitive rate.


If your chosen property includes the following reports from the RR105C form, it may not be eligible for an agency loan:

  • Pending litigation against the HOA
  • More than 10% of the owners are delinquent on HOA fees
  • More than 10% of the annual budget is from the HOA owned condos


Short for “condo-hotel,” this is a property type that features amenities that one can find in a hotel such as front desk check-ins, concierge, and maid service. Many condominiums operate as a condotel since Hawaii is a popular vacation destination.

About the Loan Programs

If you’re thinking of making a condotel your second home, I can help you in finding the best propriety condo loan program to finance your purchase.

Reach Out

Get in touch with me for more information about the loan programs you can apply for.