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5 Reasons To Get Condo Association and HOA Loans

Roger Chase on Mar 24, 2009 9:14:00 AM


  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.


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