article thumbnail

Are HOA Fees Covered in Your Mortgage? Learn Exactly How One Affects the Other

HomeLight

Your perfect home is part of a homeowners association (HOA) and there’s some mumbo jumbo about having to pay an additional expense (beyond the typical costs of owning a home) known as HOA dues. How does it factor into your overall debt-to-income ratio ? Is your HOA fee covered in your mortgage?

article thumbnail

131 Real Estate Terms & Definitions Your Clients Expect You to Know in 2023

The Close

This works in your client’s favor if they are collecting on investments, but against them when applied to debt. Construction loan. Debt-to-income ratio (DTI). You can help your clients calculate their DTI by adding together all of their monthly payments and dividing the total by their gross monthly income.