Profile picture for lilbit247

When applying for a mortgage how does the HOA fees affect the amount you can borrow??

  • August 29 2013 - Karns
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Answers (4)

Profile picture for lilbit247
Thank you for your responses. Very informative.
  • August 30 2013
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Profile picture for Michael Mei
HOA have extra fees that are part of the calculation for your debt to income ratio.  So yes...these fees can affect your borrowing power.
  • August 29 2013
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HOA fees are counted in the overall housing expense just like taxes and insurance even though you will pay them separately. Because of this, you will qualify for a greater loan on homes with no HOA then on homes with HOA fees
  • August 29 2013
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The HOA fees are added to your debt-to-income ratio and will impact how much you can borrow as it is seen similar to a recurring charge. 
  • August 29 2013
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