The strata lenders should be able to tell you what their current interest rates are. Whenever I’ve checked they have been quite high. I think it’s because the loan is not secured against an asset (like a mortgage).
Don’t forget that special levies can be raised in installments. So a $7,000.00 special levy, at $875.00 per lot, could be raised over a 6 or 12 months period in 2 or 4 installments which might be easier for lot owners to manage.
It can also depend on when the works need to be done and when other major items of routine expenditure, such as insurance, occur within the scheme’s financial year.
Most strata schemes in Victoria don’t have separate administration and maintenance (sinking) funds which gives them a bit more flexibility on how funds are raised and spent during the scheme’s financial year.