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HOA Loan Rate Update

stephen polinsky on Feb 9, 2009 7:30:00 PM

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HOA Loan Rate Update

HOA loan rates for condo associations and HOA's are now at 6%.  Final proposed rate depends on the association's creditworthiness.  HOA Loans, also known as Condo Association Loans can be used for construction, construction defect litigation funding and capital improvements.  CondoAssociation.com's community lending netwrok is nationwide, including Hawaii and Alaska.

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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 10-12 units
  • Minimum loan amount of $100K