Free calculator · For home buyers
What will this home really cost us each month, with the HOA in it?
A $350,000 home with 20% down at 6.5% for 30 years, $2,800 a year in property tax, $1,800 a year in insurance, $125 a month in HOA dues and a $1,500 assessment billed over 12 months.
All in, it costs $2,403.12 a month: $1,769.79 for the loan, $383.33 for taxes and insurance and $250.00 to the HOA. After the assessment is paid, it drops to $2,278.12.
The loan payment is the standard fixed-rate formula on the price less the down payment, at the rate and term you were quoted.
Taxes and insurance are their yearly bills spread over twelve months. HOA dues are added as they are billed, and an assessment you expect is spread over the months it is billed in.
Every number is yours. The page uses no average rate, tax bill or dues figure.
Lenders usually count HOA dues in the monthly housing cost they qualify you on. Ask yours how it treats them, and how it treats a special assessment.
Ask for the resale packet before you sign: the budget, the reserve study and the minutes. An assessment the board is discussing shows up in the minutes first.
Utilities, upkeep inside the home and closing costs. The page covers the monthly bills that come with owning the home and belonging to the HOA.
In a community on Rebel HOA, owners find the community’s documents in one place.