Who this is for
Who conventional fits
Buyers with solid credit
Higher scores earn better pricing and cheaper mortgage insurance.
Second-home buyers
Conventional is the main path for a second home in the islands, typically from 10% down.
Investors
Rental properties qualify with 15–25% down depending on units and use.
Refinancers
Rate-and-term and cash-out refinances, often with no appraisal if the lender's automated valuation supports it.
Program highlights
Why conventional is often the best value
Removable mortgage insurance
PMI can be cancelled at 80% of original value on request and ends automatically at 78% under the Homeowners Protection Act. FHA insurance usually stays.
High Hawaii limits
The 2026 one-unit conforming limit on Oahu is $1,249,125 (higher in Maui County), so you can borrow a lot before needing jumbo.
Flexible property types
Single-family, condos, townhomes and 2–4 units.
Many lenders compete
Every wholesale lender offers conventional loans, which is exactly where shopping pays off.
Qualification guidelines
What lenders look at
Typical guidelines across my lender network. Every file is different, and I will tell you exactly where you stand after a quick review.
| Factor | Typical requirement | Required? |
|---|---|---|
| Credit score | 620+ minimum; 740+ for best pricing | ✓ YES |
| Down payment | 3% (first-time) / 5% / 10% second home / 15–25% investment | ✓ YES |
| Debt-to-income | Up to 45–50% with strong files | ✓ YES |
| Loan amount | Up to the county conforming limit | ✓ YES |
| Condo project review | Building must meet Fannie/Freddie rules | ✓ YES |
| Mortgage insurance | Only under 20% down; removable | SOMETIMES |
| First-time buyer status | Only for the 3% options | ✗ NOT REQUIRED |
In Hawaii
Conventional loans in Hawaii
- 2026 limits. One-unit conforming limit: $1,249,125 on Oahu (the Alaska/Hawaii baseline). Maui County is $1,299,500. Above that is jumbo.
- Condo reviews. Many Oahu buildings fail a Fannie Mae or Freddie Mac project rule. When that happens I move you to a portfolio or non-QM lender. Learn more →
- Leasehold is allowed if the lease runs at least five years past the loan's maturity under Fannie Mae's rules. Leasehold guide →
How it works
From first call to closing
- Quick callGoals, budget, timing.
- One credit pullI shop your scenario across the wholesale market.
- Pick your offerYou see the options side by side, including points and lender credits.
- CloseLocal title and escrow, with me on the file through funding.
Common questions
Conventional FAQ
How much do I need down?
As little as 3% for qualified first-time buyers, 5% for most primary homes, 10% for second homes and 15–25% for investment property.
When does PMI go away?
You can request removal at 80% of the original value, and it ends automatically at 78% if you're current, under the Homeowners Protection Act.
What's the 2026 loan limit in Honolulu?
$1,249,125 for a one-unit property. Two- to four-unit limits are higher.
Is conventional better than FHA?
With a 680+ score and 5% down, conventional is usually cheaper over time because mortgage insurance comes off. With lower scores, FHA can win. I price both.
Sources: FHFA conforming loan limits (2026); Fannie Mae Selling Guide (B2-1.2, B2-3-03, B4-2); Homeowners Protection Act of 1998, 12 U.S.C. 4901 et seq.
