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HOA Loan or Condo Association Loan uses

stephen polinsky on Feb 11, 2009 5:59:00 PM


HOA loans and Condo Association Loans to community associations, condo associations and HOAs are becoming more popular. HOA Loans, also knowns as Condo Association loans are a great alternative to special assessments to condo association owners, because the condo association get the HOA Loan or Condo Association Loan proceeds up front and the HOA loan can be paid off over time, enabling the HOA or condo association to build in the cost of HOA loan into future condo fees or sporadic, smaller condo assessments.

Some uses for HOA loans include, but are not limited to:

  • Purchasing condo units or new property for common use
  • Construction defect litigations against condo developers
  • HOA reserve and Condo reserve funding
  • Condo Association elevator repairs and replacement
  • Condo Association brick re-pointing
  • Condo Association roof replacements
  • new heating and plumbing, air conditions, boilers, windows for Condo Associations
  • Condo Association building lobby renovations
  • HOA parking lot repairs and re-paving
  • Condo building or repairing water, sewer and electricty infrastructure
  • Refinancing of exisiting HOA loans or condo association loans
  • Condo Association building or repair of common areas including community centers, tennis courts, golf courses, club houses, and other facilities.

HOA Loan and Condo Association Loan providers usually work with condo associations to provide innovative HOA loan structures to just about any situation. Other solutions include a Condo Association Credit Lines which HOAs can tap at their discretion to increase their cash flow in the form of condo reserves.


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Some loan uses include:

  • Repairs & Improvements
  • Restorations
  • Capital purchases and buyouts
  • Reserve funding
  • Refinancing of current debt obligations
  • Litigation and Insurance funding

General Requirements:

  • Minimum of 25 units
  • Minimum loan amount of $250K