Home Buying in Spring>Question Details

Jo'cara, Home Buyer in Houston, TX

I have two questions. Is possible to roll my HOA fees into my mortagage payment?

Asked by Jo'cara, Houston, TX Thu Apr 18, 2013

I'm expecting to move to the Houston/Spring area in the next 3 months.

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Answers

8
1. No
2. I don't see your 2nd question.
0 votes Thank Flag Link Fri Apr 19, 2013
Generally, lenders do not provide for the escrowing of HOA fees or for their paying of the HOA annual fee when due. I've had clients set up a small bank account and make a deposit to that account every month or two so that that had the funds available at the time they needed them to pay the annual HOA fee. Either that, or set up an account at a credit union where the accounts frequently cost less and just plan to keep a balance there that will be large enough to make your annual payment when due.

Frank Previte
Homebuyers Realty Co.
Mortgage RMLO NMLS#130360
frankp@inside610properties.com
http://www.texasmortgagedoc.com
0 votes Thank Flag Link Fri Apr 19, 2013
Sorry my friend, HOA due cannot be impounded into your monthly mortgage payment. There are many reasons for that, but mostly due to the fact that there are laws concerning lenders having to account for funds in your impound account.
0 votes Thank Flag Link Thu Apr 18, 2013
This question completely depends on the mortgage you are getting and the lender. FHA loans don't normally allow you to escrow HOA dues but conventional loans will allow it. I don't know that it would be of any advantage to do so since you could keep the money in your possession instead of with the mortgage company's possession. I know you probably have a Realtor but if not I have been marketing and selling homes in the Spring/Klein/ Tomball area for over 24 years with a great track record and references.
0 votes Thank Flag Link Thu Apr 18, 2013
Jo'cara,
We welcome you to Houston! I don't think you can. I have a great resource you can go to for sure. Feel free to call me anytime! My office is in Spring and know the area very well! 832-483-1122
DJ
Better Homes and Gardens Real Estate Gary Greene
0 votes Thank Flag Link Thu Apr 18, 2013
No. The HOA fees are paid separate from the mortgage payment.
0 votes Thank Flag Link Thu Apr 18, 2013
1. No HOA is not part of your mortgage payment

Lynn911 Dallas Realtor & Consultant
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0 votes Thank Flag Link Thu Apr 18, 2013
This would depend upon your Lender and the Loan Servicer; (not necessarily the same company).
I seriously doubt it.
But then, I voted for that other guy.
0 votes Thank Flag Link Thu Apr 18, 2013
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