Know Before You Owe (KBYO or TRID)

Where would Home Owners Association (HOA) fees be located?

It depends on type of payment. Specific fees should be placed under the following categories:

  • B. Services Cannot Shop For
    • The following are examples of fees in this section: homeowner’s association certification fee...
  • H. Other
    • Examples of other items disclosed in this section if the creditor is aware of those items when it issues the Loan Estimate: homeowner’s association and condominium charges associated with the transfer of ownership.
  • Calculating Cash to Close Section, Adjustments and Other Credits
    • "Adjustments that require additional funds from the consumer pursuant to the real estate purchase and sale contract,… or adjustments that will be disclosed on the Closing Disclosure… [may] be included [on this line]… because the amount disclosed is a sum of adjustments and other credits, such amount would reduce the total amount disclosed. Additional examples of such adjustments for additional funds from the consumer include prorations for property taxes and homeowner’s association dues."
Citation(s):§1026.37(f)(2); Commentary ¶37(f)(2)-2; §1026.37(g)(4); Commentary ¶37(g)(4)-4; and Commentary ¶37(h)(1)(vii)-6