* Start Here For Your Loan Proposal. No Cost. No Obligation.

Origination Fee *

HOA Loan Topics

HOA Loan Articles

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

hoa loans Since 2007, we have been putting together condo associations and HOAs with qualified lending partners that understand the business of community associations.  CondoAssociation.com is prepared to help your condo association or HOA get the money it needs. 
Simply fill out the form and our banking team will contact you within 2 business days.

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.

About HOA or Association Loans

Current Articles | RSS Feed RSS Feed

5 Reasons To Get Condo Association and HOA Loans

  
  
  
  
Add to delicious  delicious  
  
  1. Condo association and HOA projects to modernize or update the property to stabalize or increase the condo values.  These projects often include updating the common areas like lobbies and elevators.
  2. Replacement of building materials to the condo association building or HOA property. For example: new roofs are the most common building materials replacement, another popular one with homeowners associations is the repaving of private streets and roadways.
  3. Construction defects funding from the condo association or HOA developer. Defect litigation can be very costly and could put cash crunch owners for a long time if an assessment is raised to do so. HOA loans are a great alternative for funding here.
  4. Funding of condo association and HOA reserves.  If the association's reserves are too low, condo associations and HOA may have no other choice than to fund it.  Loans for funding are common practice and can work if the condo association or HOA has good credit.
  5. The purchasing of a condo unit by the association.  Often times HOAs and Condo Associations want to purchase a unit for common purposes such as an office or for employee housing for association managers or on-site maintenance workers.

Learn more about condo association loans and HOA loans.

Tags: ,

Condo Association Insurance Articles