Do Condo Fees And HOA Fees Affect How Much I Qualify For?

January 20th, 2016

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When pre-qualifying someone for a condo mortgage a loan officer will have to make some assumptions since the potential home buyer does not have a ratified contract on a particular condominium. In those assumptions would be an estimate of what the monthly condominium association fees would be. I personally use $1.00 per thousand of the sales price when I am working up my numbers when prequalifying someone. Read the rest of this entry »

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