Condominium Association Financing & HOA Loans | Fast Non-Bank Financing

HOA and Condominium Association Loan Program Highlights

Our HOA lending and condominium association financing programs help community associations fund capital improvements without large special assessments or depleting cash reserves.

  • Financing for condominium associations, HOAs, and other community associations

  • Typical loan sizes range from $50,000 and up, tailored to your project and operating budget

  • Bank turndowns welcome, we provide financing when traditional financial institutions cannot

  • No personal guarantees required from board members or unit owners

  • No real estate collateral, loans are secured by the association’s assessments, not individual units or common areas

  • Available to both self-managed and professionally managed associations of any size




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    When your bank says No, we say Yes!™

    Condominium Association and HOA Financing Overview

    Gelt Financial provides condominium association and HOA loans to help communities fund capital projects, cover shortfalls, and smooth out cash flow without waiting for a slow bank approval. These services are designed for both condominium associations and homeowner associations. These financing solutions are tailored to meet the needs of both associations and their homeowners, including funding for repairs and community projects. These loans are made directly to the association, not to individual unit owners, and are structured for boards and property managers who need a practical, non-bank financing solution.

    Our HOA and condo association financing is unsecured, with the association’s assessments and assets serving as collateral rather than recording a mortgage on the building. Because we are a private, non-bank lender, we can use common-sense underwriting and close quickly, even when your bank has declined the request or needs more time than your project can afford. It is essential to work with lenders who understand the unique needs of condominium and homeowners associations, ensuring that financing solutions are tailored to each community.

    Condominium Association and HOA Financing Overview

    How HOA and Condo Association Financing Works with Gelt Financial

    How HOA and Condo Association Financing Works with Gelt Financial

    Who we lend to:

    We provide condominium association financing and HOA lending to:

    • Condo associations and HOAs
    • Community associations and planned communities
    • Self-managed or professionally managed associations
    • Select co-ops, where the association’s governing documents and structure support association financing

    We look at the association’s financial health, including delinquency rates, operating budget, and balance sheet, rather than the personal credit of individual unit owners or board members.

    Common uses for HOA loans

    Our HOA loans are used to provide financing for:

    • Capital improvements, including roof repairs, roof replacement, siding replacement, concrete restoration, and other common area projects
    • Building reserves and funding required work, such as 40-year inspections, Local Law 11 repairs, and life safety upgrades
    • Legal costs, insurance increases, lawsuit settlements, bankruptcy exit, and short-term cash shortfalls

    Associations can pay for large projects or unexpected expenses with loan proceeds, spreading the cost over time with manageable payments rather than requiring homeowners to pay a lump sum upfront.

    Common uses for HOA loans

    Financing allows associations to spread costs over an extended period through predictable loan payments rather than imposing a single large special assessment, while completing projects that protect the property and enhance property values for owners.

    Basic HOA loan terms and guidelines

    Basic HOA loan terms and guidelines

    Gelt Financial offers term loans and line of credit-style facilities with:

    • Interest-only payments during project work, where the association pays interest only on funds drawn, followed by fully amortizing term loans over an extended period

    • Flexible repayment terms that keep loan payments aligned with the association’s operating budget and cash flow

    • Competitive interest rates for non-bank association financing, designed to keep long-term financing costs predictable

    • A streamlined loan process that typically closes in weeks once the board approves terms and provides the required documentation

    Ready to get started?

    Please fill out and email a copy to info@geltfinancial.com

    Recently closed Homeowners Associations Loans

    Atlanta, GA – 81-Unit HOA

    downtown Atlanta

    $365,000

    – 60-Month Loan –

    Seattle, WA – 22-Unit HOA

    Seattle

    $45,000

    – 60-Month Self-Amortizing –

    Miami, FL – 162-Unit HOA

    Condo building Miami

    $1,500,000

    – 120-Month Self-Amortizing –

    Why Associations Choose Gelt Financial for HOA Loans

    Direct lender since 1989, not a broker

    Gelt Financial is a direct lender with decades of experience providing condominium association financing and HOA lending to community associations nationwide, giving boards access to experienced lenders specializing in HOA and condo association loans.

    Fast approvals when banks are too slow or say no

    We specialize in helping associations that were turned down by a bank or cannot wait months for a committee decision. Our loan process is streamlined so qualified associations can move from request to funding in weeks on clear, favorable terms.

    No personal guarantees and no real estate collateral

    HOA loans are made to the association, not to unit owners or board members, with no personal guarantees. The loan structure is secured by the association’s assessments and governing documents, not by recording liens on individual units or common areas.

    Flexible structures for self-managed and professionally managed associations

    We offer term loans and line-of-credit-style facilities with flexible repayment terms that fit your operating budget and cash reserves. Both self-managed and professionally managed associations can access competitive interest rates that help spread project costs over time, rather than relying on a single large special assessment.

    HOA Loan Frequently Asked Questions

    Are you a direct lender or a broker?

    Gelt Financial is a direct lender, not a broker, and has been providing condominium association financing and HOA lending solutions since 1989. You work directly with the team that structures and approves your association financing.

    Community associations come to us when community banks or larger financial institutions have declined their request, or when they do not have time for a slow loan process. We provide financing for capital improvements, reserves, legal and collection costs, lawsuit settlements, bankruptcy exit, and short-term cash shortfalls.

    We typically provide HOA and condo association loans starting at $50,000, with the capacity to lend significantly higher amounts for larger projects and communities. Loan structure and size are based on your association’s financial health, operating budget, and cash reserves.

    Rates are based on risk, loan structure, and term, and are designed to be more competitive interest rates than many non-bank HOA lending options available to community associations.

    Rates start at 12.00% for interest-only or self-amortized loans.

    The process is straightforward: you contact us with your request, complete a short application, and provide financial information on the association. Our team reviews the package, proposes terms, and works with board members or management to move efficiently from approval to closing.

    We review the association’s financial statements, delinquency rates, assessments, cash reserves, number of owner-occupied units, and overall balance sheet strength to understand the association’s financial stability before approving HOA lending.

    Most qualified associations can close and receive funds in a matter of weeks, depending on how quickly information is provided and documents are completed. Our goal is to provide financing on a timeline that matches the needs of your project and operating budget.

    No, HOA and condo association loans are made to the association itself, and we do not require personal guarantees from individual unit owners or board members.

    In many cases, we can finance up to 100 percent of approved capital improvements, including roof replacement, concrete restoration, 40-year inspections, and Local Law 11-related work. The final loan structure depends on the project’s scope and the association’s overall financial health.

    Our HOA loans do not use real estate as collateral; they are secured by the association’s assessments, cash flow, and rights set out in the association’s governing documents. We do not place liens on individual units or common areas.

    Yes, we lend to both self-managed and professionally managed community associations. We focus on the strength of the association and its ability to manage loan payments, not just on whether it uses an outside management company.

    We are happy to work with mortgage brokers, financial advisors, and other professionals who represent condominium and HOA clients. Brokers can submit association financing requests, and we provide underwriting and funding as the direct lender.

    Yes, we will consider associations with higher delinquency rates, especially when there is a clear plan to improve collections and financial stability. We evaluate the entire situation and use a common-sense approach rather than a single cutoff number.

    Typically, we request the association’s financial statements, budget, recent delinquency report, governing documents, and information on the planned use of funds. For an initial review, we can start with a completed application and basic financials, then tailor any additional documentation to your specific loan request.

    TYPES OF SERVICES AND LOANS WE OFFER

    • Foreign National Borrowers

    • Non-Recourse Financing

    • Complex Transactions

    • Refinance & Recapitalizations

    • Storied Loans

    • Debtor In Possession

    • Joint Ventures

    • Foreclosure/DPO

    • Acquisition

    • Rehab and Value Added Deals

    • No Income Verification and Light Documentation

    • No Seasoning Requirements

    • Discount Note Purchasing Financing

    • Note Financing

    • Subordinated Debt

    • Partnership Buyouts

    • Judgement Payoffs

    • Foreclosure Bailout Loans

    • Blanket Loans

    • Partnership Programs

    • No Minimum Credit Scores

    • 100% Gift Funds

    • No Look Back on Previous Bankruptcies and Foreclosures

    • Nationwide Lending

    Sorry, we don’t lend on land, and we are not construction lenders.

    Use this HOA loan calculator to estimate your monthly loan payments and total financing costs based on your requested amount, interest rate, and repayment terms. Results are for illustration only and do not constitute a quote or loan approval. Contact Gelt Financial to review your association’s numbers and discuss the HOA loan process in detail.

    Loan Calculator

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    **Note: For exceeding 120 no. of payments, a group of 12 payments will be combined into a single payment number for better chart visibility.

    Period Payment Interest Balance

    The repayment amount shown using this calculator is an estimate based on the information you have provided. It is provided for illustrative purposes only, and actual repayment amounts may vary. To find out actual repayment amounts, contact us. This calculation does not constitute a quote, loan approval, agreement, or advice by Gelt Financial. It does not take into account your personal or financial circumstances.