by Arch Capital Solutions | Condominium Financing, HOA Financing, HOA Loan, Loans, Understanding Financing
Take note of these HOA financing mistakes so you don’t make them. A friend relocated from Michigan to Florida. Since he’d done his landscaping work for decades, he decided to continue this pursuit at his new home. He spent thousands of dollars and countless hours...
by Arch Capital Solutions | Condominium Financing, HOA Financing, HOA Loan, Loans, Understanding Financing
Best time to borrow money for HOA repairs? A homeowner association approached us recently for advice on an interesting issue. Their association needed to undertake an extensive and expensive repair project. They all agreed that the project was necessary. However,...
by Arch Capital Solutions | Condominium Financing, HOA Financing, HOA Loan, Loans, Understanding Financing
Banks Deny Loans Often for HOAs Some clients call us after their regular bank has denied them an HOA loan. They are flummoxed because they (mistakenly) believed that the bank would loan money to their association. While most board members are familiar with the car,...
by Arch Capital Solutions | Condominium Financing, HOA Financing, HOA Loan, Loans, Understanding Financing
Here’s What Lenders Need From You If your HOA lacks the financial resources it needs to move forward with a project, there are a few things you should know about how to get an HOA loan. HOA loans are not like home or auto loans. That’s why HOA board members...
by Arch Capital Solutions | Condominium Financing, HOA Financing, HOA Loan, Loans, Understanding Financing
Your HOA just received an LOI (Letter of Intent) for the loan you need. Now what? Hopefully, in your quest to negotiate a loan your HOA will receive a LOI from your bank. This document can also be referred to as a Term Sheet, Memorandum of Understanding (MOU), or...
by Arch Capital Solutions | Condominium Financing, HOA Financing, HOA Loan, Loans, Understanding Financing
Why should you use a loan broker? When an association contemplates an HOA loan, there will always be differing opinions, competing agendas, and varying degrees of financial literacy among community members. Ultimately, the board needs to put forth recommendations. ...
