HOA Loans

Find the right HOA lending solution—with no brokerage fees

HOA lending options to finance capital projects

We offer several HOA financing solutions including standard term loans, revolving lines of credit and quick-term HOA loans. Your turnaround time for HOA loan approvals could be as quick as 3 to 5 business days for revolving credit and quick term, or 10 to 12 business days for standard term HOA loans.D

Ready to improve your community?

Additions and improvements

Diverse HOA financing options

Experienced team guidance

HOA Lending Expertise

Let us help improve your community

  • We have the financing solutions you need to add a clubhouse, pool, community center or playground, or to improve structures and roads.
  • We offer quick-term loans up to $3 million, traditional term loans with no maximum and revolving lines of credit with a $250,000 maximum.
  • Our community association lenders meet with your board members, attend community meetings and help explain financing solutions.

Compare HOA loans & financing

Find the HOA lending option that's right for you

Quick-Term Loan

Traditional Term Loan

Revolving Line of Credit

Rate

Competitive low fixed rates

Fixed rate quoted

WSJ Prime +1% (5% floor)

Average approval timeD

3 business days

10 business days

3 business days

Term

5, 7 or 10 years

5 to 15 years

Demand note

Minimum loan amount

None

$100,000

$25,000

Maximum loan amount

$3,000,000

No maximum

$250,000

Minimum number of units

25

25

25

Prepayment penaltyD

1%

1%

0%

Origination fee

None

Negotiable

1% origination fee

$250 annual renewal fee

Documentation or legal fees

$500

From $500 to $5,000D

$0
HOA Lending FAQ

People often ask us

An HOA loan is a loan made directly to the association—not individuals—that can provide financing for projects and capital improvements within the community. The association is responsible for the repayment of the loan through the assessments collected from the owners of the community. Projects can include pools, playgrounds, common areas, siding replacement, roof repairs or replacement, windows, asphalt, balconies and more.

When there's a significant capital need, an HOA loan can be a smart and prudent funding option. Upon approval, financing can happen quickly, so your project can get started fast. And because the loan can be paid back over time, typically residents could only see modest increases to their monthly HOA payments instead of a large special assessment that's due up front to cover project costs.

HOA loans are an easy way to provide financing to homeowners in the community. Securing a loan could eliminate the need for the association to deplete their reserves or operating cash.

An HOA loan provides several advantages to your community.

  • An HOA loan allows a project to start and be completed at one time rather than going through phases. Once the loan is closed, funds can be available in as fast as 24 hours.
  • An HOA loan provides an association an option for financing costs over time, rather than requiring a lump-sum payment from owners up front.
  • An HOA loan protects reserves by allowing you to continue to contribute to your reserves.

Terms vary based on the type of loan—typically from 5 to 15 years.

A number of factors are reviewed during the approval process for an HOA loan. It's important to understand your association's governing documents and state laws. In some cases, a vote or amended declaration may be required. Working with your association's attorney at the start of the loan process can save time. Ensure the association's financials are up to date by working with your property manager or accounting firm.

If you're considering a loan, working with a bank that has experience in community association banking and lending can be especially beneficial. The bank's experts will help you through the loan process—even attend your board and membership meetings—and assist you with gaining the necessary approvals you need to move forward.

HOA Lending Insights

Expand your knowledge

Account openings and credit are subject to bank approval.

Assumes loan package is complete and no additional information is needed.

There's no prepayment penalty if the prepayment is made by the borrower. Specific conditions must be met. Prepayment penalty applies if borrower is refinancing with another financial institution.

Fee depends on loan size.

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NMLSR ID 503941