Each HOA varies, so it’s critical to discuss this with your Realtor and lender. They can include very little or quite a bit. Some examples could be: community amenities, utilities, and even insurance for the structure. Regardless, the whole HOA fee will be factored into the mortgage payment you can qualify for based on your debt-to-income ratio. So even if your HOA includes electric, gas, and water/trash, your lender still has to factor that HOA fee into the overall calculation for how much you can afford. If you are considering buying a home or condo with an HOA, we will be here to discuss each one with you to make sure it can work!

Work with a Professional Arizona Mortgage lender

The Potempa Team is a professional mortgage lender with years of experience in Arizona. We offer comprehensive mortgage loan services, including pre-approval and down payment assistance. We work closely with our customers to provide excellent service. We are here to answer your questions and assist you in obtaining a loan so you can soon purchase your dream home. We are happy to provide you with a quote when you fill out our online form. Contact The Potempa Team today for your home loan needs.