Also written as:
HOA
Monthly or annual dues paid to a Homeowners Association for maintaining shared spaces, amenities, and enforcing community rules. Common in condos, townhomes, and planned communities.
An HOA — Homeowners Association — is the organization that manages shared spaces and enforces community standards in many residential developments. HOA fees are the dues you pay to fund those services.
What HOA fees typically cover: maintenance of common areas (landscaping, pools, gyms, clubhouses), exterior building maintenance (in condos/townhomes), trash and water (sometimes), master insurance for shared structures, and a reserve fund for big repairs. Fees range widely — from $25/month in a basic HOA up to $1,500+/month in luxury condo buildings with extensive amenities.
Important: HOA fees count toward your monthly housing payment for DTI purposes. Lenders include them when calculating whether you qualify for the loan. A $500 HOA on top of an otherwise affordable mortgage can be the difference between approval and denial.
Example
A $400K condo with $450/month HOA fees: your mortgage payment looks affordable at $2,022 P&I, but add $450 HOA + $400 taxes + $150 insurance + $245 PMI = $3,267/month total. The HOA can push your DTI past qualification thresholds.
Also known as
HOA, Homeowners Association dues, condo fees, association dues