How this number is made
An HOA fee is a payment you cannot amortize away. Over a year it is twelve times the monthly fee. The loan comparison asks how much less house the fee equals, at the rate you type.
- Use the fee in the resale certificate, and add a special assessment only if you are treating it as monthly.
- The rate is only for the buying-power comparison.
Formula
Annual fee = monthly × 12. Principal the fee could have carried = the loan size with that payment, rate, and term.
Worked example
With the figures already in the form, hoa per year is $3,360.
Questions
Do HOA fees rise?
Often. This page does not inflate them. If you know the history, raise the monthly figure yourself.
Is the buying-power line a payment?
No. It is the mortgage that would have the same monthly cost as the fee. It shows the house you give up to pay the association.