Mortgage Glossary
Homeowners Association (HOA)
Defined by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
A homeowners association (HOA) governs a planned community or condominium, collecting dues to maintain shared areas and enforce rules.
What Homeowners Association (HOA) means
HOA dues count toward your debt-to-income ratio, and condo associations must meet lender warrantability standards for financing. Special assessments can add unexpected costs.
Florida example
A Florida condo buyer's $450 monthly HOA dues are added to their housing payment for DTI. Lenders also review the association's budget and reserves, since a poorly funded HOA can block FHA or conventional approval.
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