Condominium and HOA Association Financing

We offer condominium and HOA association financing when either they don’t have time for a bank to close the deal or they don’t qualify at this time for bank financing. We are private non-bank commercial lenders who can move fast as well as use a commonsense approach to lending. We can work through time-sensitive and storied transactions.

  • Fast approvals and Closings

  • Storied and Turnaround Situations ok

  • Bank Turndowns Welcomed

  • Financing from 25k and up

  • Interest only or Amortized paybacks

  • High investor concentration ok

  • Self managed or professionally managed

  • Small Condo and HOA Associations

  • You bank where you want to bank, we do not control your banking relationship

HOA Loans frequently asked questions

HOA loans allow your association to fund a variety of projects and expenses, from common area improvements to maintenance and repairs. Many HOAs, CIDs and PUDs use loans or lines of credit as alternatives to a special assessment for unexpected expenses. You can even take out a loan to pay your annual insurance premiums upfront, if your insurance company offers a discount for paying for the year in advance. As well sometimes unexpected things come up and we allow you do deal with them right away.

There are many such as it allows the association to have quick cash for many needs it also It spreads out the cost of common area improvements over time, and assigns the cost of those improvements to the people who are benefitting from them the most. It also allows repairs and maintenance to be performed quickly, at today’s prices.

Typically associations come to us when either they can’t go to a bank or don’t have the time to wait for a bank. Our typical loans are interest only or self-amortizing 6 months to 5 years.

We lend on all assets of the HOA and, if the loan went into default, we’d have the right to collect HOA, CID, and PUD assessments directly from the homeowners. Individual officers and homeowners are not required to personally guarantee an HOA loan because the borrower is the HOA, which is a separate business entity.

To gauge credit risk, we’ll ask for information about:

  • Number of delinquencies, and the amount of money involved.
  • Liquidity (the amount of cash as a percentage of annual assessments and annual debt service).
  • Number of housing units, and how many are owner-occupied.
  • Whether monthly assessments will need to increase to pay for the loan.
  • HOA officers’ management and capital planning experience.

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