CondoAssociation.com Announces HOA Loan Program for Construction
HOA loans and Condo Association Loans are now available exclusively to Townhomes, Condo Associations, Cooperatives, Office Condominiums, Timeshares, Condo Associations and Homeowner Associations (HOAs) at CondoAssociation.com at very competitive rates and terms depending on the Association's creditworthiness.
While traditional construction loan interest rates can be anywhere between 8-15%, CondoAssociation.com can offer very favorable loan terms to Condo Associations because of specialty HOA loans or Condo Association Loans which are secured by an assignment of the condo association assessment rights. Construction loans traditionally use the property asset as collateral or control of the condo association's cash.
This HOA loan or Condo Association Loan structure offers a bright spot to HOAs, Condo Associations and other types of associations looking to start or complete new construction projects, whereas traditional construction loans may be too expensive or not available.
- HOA Loans and Condo Association Loans for construction don't require a lump sum down payment
- Traditional Loan To Value (LTV) models don't apply to HOA Loans and Condo Association Loans
- Construction loan uses may include, but are not limited to renovations, the purchase of condo units or land leases construction defects and construction defect litigation and renovations.
- HOA loans also apply to Condo Associations, Homeowner Associations, Community Association, Co-Ops and Timeshares and are a great alternative to a special assessment to association members.
