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Whats the difference between an Association Loan and a Line of Credit?

April 26, 2017Association line of credit loan

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Whats the difference between an Association Loan and a Line of Credit?

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When a Condo Association takes out a loan, the lender provides all the funds in one lump sum. With a line of credit, a Condo Association qualifies for a credit limit, which they can draw down on and pay back at any time. Top 5 Reasons for a Condo Association Loan 1. Increase cash flow 2. Capital improvements or repairs 3. Purchase of additional property 4. Purchase of units from owners 5.