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.