Does condo assessment count toward home pre-approval amount?

Yes.. when calculating your debt to income ratios, the lender have to consider all your outstanding debt plus the new housing payment, including principal, interest, taxes, insurance, private mortgage insurance, and any association fee's or assessments.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

The answer is yes.

Hi Francine:Yes, the condo association dues will count in the debt ratio so it will count against the amount of money you can borrower. If you need to get pre-qualified, I can help you. We work with 25 different lenders to help you qualify. We work with scores as low as 560 on FHA. Please email or call me if I can help.Best regards,Patty

Yes it does