Association Capital Advisors is an all-in partner that assists association board members and community managers in the loan application submission process. Securing an association loan requires many elements and attention to detail, including adhering to lending laws, regulations, and the association’s governing documents. Association Capital Advisors takes on the work to get your loan application successfully approved.
Finding a Lender
Not all lenders have the capability to lend to an association. The lenders that specialize in association loans have established criteria regarding the lending process. To gauge credit risk, lenders ask for information about:
Number of delinquencies, and the amount
of money involved.
Liquidity (the amount of cash as a percentage of annual assessments and annual debt service).
Number of housing units, and how many are owner-occupied.
Whether monthly assessments will need to increase to pay for the loan.
Ensuring you’re covered
Association Capital Advisors will first review your community information and funding requirements to match your needs with the appropriate lender. Not all associations will meet the lender requirements to secure a loan. This internal review ensures the board knows—well in advance—of their status and can avoid any unnecessary delays. On the rare occasion a match is not likely, we’ll offer other possible options for the board to consider.