Financing a Non-reserve HOA

5 Replies

So I found a couple of properties that I am really interested in, however the HOA they belong to do not have the adequate cash reserves I need to take out a loan. How would I go about finding a loan for this? Is a private lender my only choice?

@Charles Carillo

Would an HOA be forced to disclose any upcoming/past assessments?

Also one of the lenders I reached out to pretty much said she's got a don't ask don't tell policy on HOAs if I can out down more than 25% but that my interest on the loan would be closer to 7%. Is that a little sketchy? Should I be reaching out to multiple lenders?

@Juan Carlos Castillo

You have the option of portfolio lending. The rate is going to be higher than conventional. There is a loan minimum with this program that I am aware of $100k. What is the purchase price of the property?