Roof Replacement Financing for Condo Associations
24 Hours Approval | 100% of Cost Financed | Flexible Terms | No Personal Guarantee
Replace or repair your building's roof now, and let owners pay over time instead of all at once.
Get a Loan Quote · Call 754-900-7252 · Visit Our Website
A failing roof doesn't wait for reserves to catch up. Leaks spread, insurers start asking questions, and every month of delay adds cost. Samtov Finance provides roof replacement and repair loans for condo associations and HOAs, so your board can get the roof done now and owners can repay the cost through their regular assessments instead of a large lump-sum special assessment.
Why Condo Boards Choose Samtov Over a Bank
A bank can be a good fit for a large, well-reserved association with time to wait. Most boards facing a roof don't have that luxury. Here's what changes when you work with Samtov.
Fast answers. Well-documented requests can be approved in as little as 24 hours, with funding shortly after. Bank reviews often take weeks or months, and a damaged roof can't wait that long.
Up to 100% of the project financed. We can fund the full cost of the work, including engineering, permits and related repairs. Your association doesn't have to drain its reserves or ask owners for a down payment first.
No personal guarantees. Board members and owners never sign personally. The loan is repaid from the association's assessment income.
Refinance with a bank later, if you choose. After 12 months, the association has the option to refinance with a bank. Get the roof done now, then revisit bank financing once the new roof is in and your finances are stronger. It's an option, never a requirement.
Personal guidance from start to finish. You work directly with a loan specialist who helps your board size the loan, gather the documents and understand every term in plain English. No call centers, no runaround.
Room for associations banks pass on. Small buildings, self-managed associations, low reserves, higher delinquencies or a recent bank denial don't automatically rule you out. We lend from $50,000 to $15 million.
What We Finance
A roof loan can cover the whole project, not just the shingles or tiles:
Full roof replacement
Partial replacement and re-roofing
Major repairs and leak remediation
Storm and hurricane damage repairs
Tile, shingle, metal, flat and membrane roofs
Waterproofing, drainage and roof deck repairs
Engineering, permits and project management
If the roof is part of a larger repair project, ask us about financing the full scope in one loan.
Loan or Special Assessment?
Take a $240,000 roof on a 16-unit building. A special assessment asks every owner for $15,000, often within a few months. Some owners can pay it. Others can't, and delinquencies follow.
With a loan, the roof gets done now and the cost is repaid through regular assessments over the life of the loan. No owner has to find $15,000 at once. Some associations combine the two: a smaller special assessment plus a loan for the rest.
Compare a loan and a special assessment in more detail
For Florida Condo Boards: The Roof, SIRS and Insurance
In Florida, an aging roof is now a compliance and insurance problem, not just a maintenance one.
The roof is a required reserve item. For condo buildings three or more habitable stories tall, the roof is one of the components the Structural Integrity Reserve Study (SIRS) must cover. Starting with 2025 budgets, owners generally can no longer vote to waive or reduce those reserves.
Florida law now allows a loan. Under HB 913, in effect since July 1, 2025, an owner-controlled association can fund its SIRS reserves through regular assessments, special assessments, a line of credit or a loan. Any method other than regular assessments requires approval by a majority of the association's total voting interests.
Insurers are watching the roof. Roof age and condition weigh heavily on premiums, deductibles and renewals. Replacing an aging roof on your own schedule, before a non-renewal notice arrives, keeps the board in control.
Learn more about financing SIRS reserve requirements.
How It Works
Tell us about the project. Call 754-900-7252 or request a quote with your roof bids and the amount you need.
Send the basics. Your current budget, recent financial statements, bank statements, a delinquency report and the contractor bids. Include your SIRS or milestone inspection report if you have one.
Review a clear term sheet. You'll see the rate, term and monthly cost per unit before the board decides. Here's how to read a term sheet.
Approve, close and start the work. Once the board approves (and owners vote, where your documents require it), we close and fund so your roofer can get started.
Frequently Asked Questions
Can a condo association get a loan to replace its roof?
Yes. The association itself is the borrower, and the loan is repaid from assessment income over time. Roof replacement is one of the most common reasons associations borrow.
Does this work for HOAs too?
Yes. We finance roofs and other capital projects for homeowners associations as well as condominium associations, and the process is the same.
Do board members have to sign a personal guarantee?
No. Board members and owners never sign personally. The loan is secured by the association's assessment income.
Can you finance 100% of the roof project?
Yes. Subject to underwriting, we can finance up to the full project cost, including engineering, permits and related repairs.
Can we refinance with a bank later?
Yes. After 12 months, the association has the option to refinance with a bank. It's a choice, not a requirement, so the board can decide later whether it makes sense.
How fast can we get approved?
Well-documented requests can be approved in as little as 24 hours, with funding shortly after.
Can we qualify with low reserves, or after a bank said no?
It's possible. Low reserves are often the reason an association needs a loan in the first place. We focus on whether the association's assessment income can support the payment, and a bank denial doesn't rule you out.
How much can an association borrow?
We lend from $50,000 to $15 million. The right amount depends on what the association's assessment income can comfortably support.
Do owners need to vote on the loan?
It depends on your governing documents. In Florida, using a loan to fund required SIRS reserves needs approval from a majority of the total voting interests. Confirm your requirements with association counsel before committing.
Start Your Roof Project With Samtov
Your roof can't wait, and your owners shouldn't have to pay for it all at once. Talk to a Samtov loan specialist about your project today.
Get a Loan Quote · Call 754-900-7252 · info@samtov.com
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