Say a person qualifies for a housing payment of $1000/month.
Condo fees are $200/month and primarily cover things like heat and hot water (common heat), lawn care, snow removal and other expenses a person would otherwise be paying in a single family home.
Would the mortgage company require the person limit their mortgage payment to $800 (principal/interest/taxes) for a condo because of the condo fee, but allow $1000 payment for a house?
Added (1). heat/hot water are unavoidable expenses i a single family home also for the most part… And if you don't pay a landscaper, you have to buy lawn equipment
Read more: Are condo fees considered in determining eligibility for a mortgage?
