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Refinancing a Condo Corporation Loan

Toronto Condo News
Publication date:
October 24, 2020
Article Summary: 

Refinancing a loan made to a condominium corporation at a lower interest rate can save money, even if there is a pre-payment penalty. Loans can be a practical option for communities where owners cannot fund higher monthly fees or a special assessment. However, loans should not be used as a solution for paying for income shortfalls due to pandemic-related or other operational expenses. Instead, other ways to reduce expenses or increase monthly fees should be considered.


Refinancing, Condominium Corporation, Loan, Interest Rates, Pre-payment Penalty, Borrowing, Monthly Fees, Special Assessment, Expenses, Income Shortfall.

Source Citation: 
Toronto Condo News
Refinancing a Condo Corporation Loan
October 24, 2020
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