Wednesday, March 14, 2012

HOA Fees

"Why are my HOA fees included in the loan payment section of the loan application if I don't pay my HOA fees to the lender?"

HOA fees are part of your monthly housing payment, even though they get paid directly to the HOA management company and not to the lender. HOA fees are a recurring debt and must be counted in the calculation of the debt-to-income ratio (DTI). The easiest way to do that is to include them in the monthly housing payment section of the loan application.

Getting a loan approved is easy - if you know what to do. The Mortgage Experts know what to do!!!

Make sure you check out our web site:

By the way, don't forget to refinance your current mortgage. Rates are very, very low right now. Don't miss out! Call us today to get the details for your particular situation.

No comments: