491
Units
Chicago, Illinois
$30,000,000
- Line of Credit converting to 25-year term
- Elevator modernization
- Plumbing & HVAC stacks and risers
The undersigned arranged the financing on behalf of the association.
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HOA Loan Services provides expert guidance to HOA and Condo associations looking to secure financing. Our team specializes in loan placement and financial modeling, ensuring that you receive the best loan options and advice for your community's unique financial needs.
HOA Loan Services has created a specialized HOA loan process to assist communities as they navigate what is likely their first HOA loan application. Our process includes:
Phase 1
At this stage, we generate and analyze various funding scenarios for the community’s ideal budget and determine where changes can or should be made
Phase 2
In phase 2, HOA Loan Services solicits lenders, proposals, and term sheets, and prepares a matrix for the board to assess if necessary.
Phase 3
We act as the liaison between HOA managers and board members, and the bank's underwriters during the underwriting process.
Phase 4
We’ll walk you through all of the steps of final closing to ensure everything is correct and acceptable for all parties.
Demystifying the complex HOA loan acquisition process is half the battle when it comes to successfully securing a loan. HOA Loan Services is proud to act as your community’s pocket encyclopedia on all things finance.
Whether that’s general HOA Loan requirements, how dues, delinquencies, and other community information can impact the process, debt projection, or how advance rates are calculated (and why they’re important!), our 30+ years of expertise can answer just about any question HOA or Condo Association managers or board members have about the HOA loan process.
HOA management companies and HOA boards serve a lot of very vocal masters: from members of the board to community residents, to local ordinances and regulations, as well as how their choices can impact the market outside of their own neighborhood, there is a lot to consider before a community can make a smart financial decision.
HOA Loan Services works for HOA managers and board members to dive deep into these very topics and build an effective financial strategy. We ensure in-depth consideration from as many angles as possible to help communities make informed, financially-sound decisions for the betterment of their home.
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