Mutual of Omaha Bank is now CIT. Learn More
Community Association Loans
Find the financing solution that's right for you - with no brokerage fees
|Quick Term Loan||Traditional Term Loan||Revolving Line of Credit|
|Rate||Competitive low fixed rates||Rate will be quoted||WSJ Prime +1% (5% floor)|
|Average Approval Time**||3-5 days||10-12 days||3-5 days|
|Term||5, 7, 10 years||Varies from 5 to 15 years||Demand Note|
|Minimum Loan Amount||None||$100,000||$25,000|
|Maximum Loan Amount||$3,000,000||No Maximum||$250,000|
|Minimum # of Units||25||25||25|
|Suggested Uses (but not limited to)||Capital expenditures for roofs, siding, paving, emergency replacement of boilers, chillers or other repairs or enhancements to the common property||Larger planned infrastructure repairs, maintenance or enhancements to the common property||Working capital needs, minor purchases, short term insurance premium financing, vendor payments to obtain early pay discounts|
|Application Fee||$500||Fee May Apply||None|
|Origination Fee||None||Origination fee may apply||1% origination fee; $250 annual renewal fee|
|Doc Fees||Fees May Apply||Documentation fee varies based on loan size||Fees May Apply|
Contact us or your Regional Account Executives Today.Contact us or call 866-211-1956
Click here to view our Account Disclosures.
* If prepayment is made by the borrower.
** Assumes loan package is complete and no additional information is needed.
*** Specific conditions must be met.