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HOA Fees

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  • #2350
    Anonymous
    Inactive

    We are adding HOA fees to our Good Faith. We are needing to know how to disclose those fees on our Good Faith and how they need to appear on the HUD when we receive it from our title company. Thanks!

    #2700
    JGo9
    Participant

    In my neck of the woods we typically don’t have to deal with HOA fees so I had to do some searching for this answer.

    I went to the HUD’s FAQ’s and found this answer below:

    5) Q: Where should the charge for the Homeowners Association (HOA) transfer fee be disclosed on the GFE and HUD-1?
    A: The charge for the HOA transfer fee, unless it is a service required by the loan originator, need not be disclosed on the GFE. The charge for the HOA transfer fee may be shown on a blank line in the 1300 series on the HUD-1.

    Here is a link to the pdf file of the FAQ’s where I found it: https://www.hud.gov/offices/hsg/ramh/res/resparulefaqs.pdf

    I hope that helps!

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