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HOA Loan Topics

HOA Loans - We are the most trusted source, nationwide for Community Association Lending

hoa loans Since 2007, CondoAssociation.com has been putting together condo associations and HOAs with qualified lending partners that understand the business of community associations.

Our HOA lending partners understand the business of community associations and are prepared to help your condo association or HOA get the money it needs.

HOA Loan FAQs

What is a HOA or Condo Association Loan?
An HOA loan is specialized in that it is secured with a community associations' future cash flow produced by condo fees. Lenders normally reserve the right to assess the HOA should it get behind on servicing the loan.

Why would associations need a HOA Loans?
* Capital repairs and improvements to buildings and common areas.  Examples of this include roof replacement and driveway asphalting.
    
* Litigation Funding - Its not uncommon to pursue litigation against developers and build material manufacturers for construction defects. Litigation funding can provide monies needed to get an HOA through an extending litigation process that may take years.

Who provides HOA Loans?
HOA lending is still a very specialized practice and is mostly local.  CondoAssociation.com alleviates the headache of identifying HOA loan sources for our HOA community our partner lending network. Simply fill out the form and wait for a phone call from a qualified lending partner in 1-2 business days.

How long does it take to get an HOA Loan?
It normally depends on the time it takes for the association to get financial information back to the HOA lenders and the association's attorney to write an opinion as to the association's creditworthiness and legal ability to assign assessments rights the the condo association.  This can last anywhere from 30 - 90 days.

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TimeShares 

CondoAssociation.com welcomes Timeshare Associations to apply for loans on our site.  Timeshare Associations will go through the same loan qualification process of Community Associations, HOAs, Homeowners Associations and Condo Associations.  Timeshare Association loans are secured by the lender's right to assess the association itself.

Co-Ops 

CondoAssociation.com matches Manhattan Co-Ops with association loan providers for free.  Co-Op loans (same thing as Condo Association Loans or HOA Loans) are specialized because they are secured with Co-Op assessment rights rather than property. 

Areas for our Co-Op loan and Condo Association Loan service include Manhattan, Brooklyn, Bronx, Queens, Westchester and Rockland Counties, Harlem, Staten Island and Long Island.