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Updated over 5 years ago on . Most recent reply

Juan Carlos Castillo's profile image
Juan Carlos Castillo's profile image
Juan Carlos Castillo
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Juan Carlos Castillo's profile image
Juan Carlos Castillo's profile image
Juan Carlos Castillo
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Juan Carlos Castillo
  • Specialist
15
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Starting Out

Financing a Non-reserve HOA

Juan Carlos Castillo
  • Specialist
Posted

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?

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Wayne Brooks's profile image
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Wayne Brooks
  • #1 Foreclosures Contributor
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Wayne Brooks's profile image
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Wayne Brooks
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
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Yes, you need a lender that will do a Non Qualified loan....expect to put down 30% or so and couple of points higher in interest.

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