How to use the calculators
- Loan Repayment & Dues Impact:
- Enter project cost, interest rate, term, number of units, and fees (finance or pay upfront).
- You’ll see total monthly payment, monthly per-unit dues impact, financed amount, and total interest.
- Download an amortization CSV to include in board packets.
- Special Assessment Impact:
- Enter the total assessment, units, and an optional owner payment plan (months).
- You’ll see one-time per-unit and an estimated per-unit monthly if owners are allowed to pay over time.
Tip: Use both tools with the same project cost to show an apples-to-apples comparison in your board or town-hall meeting.
HOA loan vs. special assessment: which is better?
There isn’t a one-size-fits-all answer, but these rules of thumb help:
- Loans smooth dues over time and may be easier for residents to handle than large one-time bills.
- Special assessments can avoid interest expense but risk delinquencies and uneven collection timing.
- Hybrid approach: use some reserves + a smaller loan to minimize dues impact while preserving liquidity.
- Project timing: loans can enable faster starts on critical repairs to limit further deterioration and liability.
If you want to see real lender terms for your community, Get Funding Options or Start With a Free Consult—we’ll respond within 1 business day.
What lenders typically look for
While each lender is different, many review:
- Delinquency rate: % of owners 30/60/90+ days past due
- Owner-occupancy mix: owner vs. investor
- Reserves & budget: current reserve strength and planned contributions
- Project scope & bids: licensed contractor bids and a clear SOW
- Governance & docs: CC&Rs/bylaws, meeting minutes, insurance, financials
Use our Loan Readiness Checklist to speed up reviews and reduce back-and-forth.
Example scenarios (illustrative)
- $1.5M exterior project | 120 units | 15 years @ 7.25%
- Loan: roughly $X total monthly, $Y per unit
- Special assessment: $12,500 one-time per unit, or $2,083/mo for 6 months
Many communities choose a loan to avoid owner hardship and to start sooner.
- $800k balcony repair | 60 units | 10 years @ 8.00%
- Loan: $A total monthly, $B per unit
- Assessment: $13,333 per unit once, or $1,111/mo for 12 months
(Use the calculators above with your actual numbers for precise figures.)
State-specific notes
- California (SB 326 / balcony inspections): Many communities finance repair programs discovered through inspections to avoid repeated special assessments.
- Florida (Milestone Inspections & SIRS): Post-Surfside requirements can create large near-term projects; financing helps align cash flow with safety timelines.
- Texas & others: Older buildings face roof, facade, plumbing, and paving cycles—financing helps preserve reserves for emergencies.
Regulations change; consult your legal and financial advisors. Our team can provide illustrative lender options while you coordinate with counsel and your manager.
Frequently asked questions (FAQ)
How accurate is this calculator?
It’s an estimate based on standard amortization. Final terms depend on lender underwriting, fees, and your community’s profile.
Can we finance fees or pay them upfront?
Yes. The calculator lets you model both so you can see the difference in monthly dues.
Will our dues increase?
Often yes, but financing can spread the impact. Use the per-unit output for a transparent resident explanation.
What documents should we prepare?
Start with two contractor bids, recent financials & budget, reserves, insurance, governing documents, and meeting minutes. See the Readiness Checklist.
How fast can we see options?
Submit your project details and we typically share preliminary options in 3–5 business days. Start here: Get Funding Options.
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