I think you have been confused by what your lender said.In residential mortgages there are two Debt to Income (DTI) calculations that evaluate your capacity as a borrower to repay your debt.Front End Ratio: Total Housing Payment divided by Gross Monthly Income (total housing includes mortgage payment, taxes, insurance and hoa where applicable)The lender told you for the program your front end ratio must be 31% or less.

.: $263HOA DUES: $607/monthYear Built: 1962Note* The HOA fees bother me.

I have also seen houses foreclosed for unpaid HOA fees that had no mortgage when they went to and were bought at sheriff sale.So if Dave had said " Almost 100% of foreclosures last year happened to people with a mortgage" or "100% of mortgage foreclosures last year happened to people with a mortgage" - then either of those would be correct statements.

I tend to stay out of Condo's due to HIGH HOA Fee's. 1 Thing you learn in this business - HOA Fee's & Taxes are forever and always.I also tend to stay away from retail deals unless is absolutely WAY under market, at which point, I still question the property.

You do need to make sure that that your borrower keeps up with HOA fees, taxes and insurance.

They are $35.00 Check or Money Order payable to Montana HOA.

Insolvent HOAs and impending special assessments and dues increases can wreak havoc with your plan.

Is there any HOA for this location?

It's out-of-area owner (me), tax defaulted, seller was also NOO and BK and there are HOA liens.

Are you sure that pro-rated taxes or HOA aren't included?