Condo Financing Options
- Traditional: Fannie/Freddie-approved projects with strong reserves
- Non-Warrantable: High-rises, investor heavy, short-term rental condos
- Jumbo options: Exceed high-cost county conforming limits for luxury coastal properties
California condo buyers target luxury coastal and urban condos and investment-grade properties find prime opportunities across the state’s most desirable neighborhoods. In Santa Monica, modern mid-rise beachfront condominiums deliver the quintessential SoCal lifestyle with immediate access to coastal paths and walkable retail areas near Ocean Ave and Abbot Kinney.
San Diego’s La Jolla skyline showcases impressive ocean-view high-rise condos perfect for second homes or premium rentals with resort-caliber amenities. Further north, San Francisco’s Embarcadero and Pacific Heights feature striking bay- view condominium towers blending urban sophistication with sweeping water vistas.
California condo mortgages require expertise with HOA financial reviews, condo project approvals, and investor qualification guidelines to support your goal for primary residence condo financing to a strategic coastal property portfolio investment.
California’s desirable coastal cities offer luxury condos with stunning views of the Pacific Ocean. Some examples of condos financed include:
A San Mateo based software engineer purchasing a $3.5M condo: 80% loan of $2.8M with a 20% down payment of $700,000.
A business owner in Newport Beach buying a $4M beachfront condo: 80% loan of $3.2M with a $800,000 down payment.
Los Angeles: Financing options in Marina Del Rey, Santa Monica, and Hollywood Hills
San Francisco: Condo lending on exquisitely designed buildings in Pacific Heights, SOMA and Noe Valley
San Diego: Oceanfront condo loans for properties in La Jolla and Carlsbad
Orange County: Loans tailored for high-cost condominiums in Irvine, Laguna Beach, and Newport Coast
California’s condo market is highly competitive with buyers often prepared to meet stringent lender requirements such as down payments or financing as a non-warrantable condo. Here’s a snapshot of recent median condo prices:
| City | Median Price | Avg. Days on Market |
|---|---|---|
| Santa Monica | $1,250,000 | 20 |
| Irvine | $1,000,000 | 30 |
| Newport Beach | $1,400,000 | 35 |
| San Francisco | $1,150,000 | 51 |
| San Diego | $650,000 | 30 |
Here’s how California borrowers used condo loans to achieve their goals:
A software developer in San Jose used stock options to qualify for a condo loan with a 15% down payment to buy a condo in Cupertino (e.g. 7.0% & 7.12% APR).
A La Jolla surgeon secured a loan for a beachfront condo qualifying with a mix of W-2 and self-employed income.
Disclosure: Minimum loan amount is $200,000 for residential loans. Loan programs are subject to change per lender at any time until the loan is approved and the rate is locked. Borrowers must be approved by underwriting. Not all applicants will qualify.