01
Regular dues
Current association statement
Record frequency, included services and approved changes; convert quarterly or annual dues consistently.
Property evidence · field guide
HOA dues and a special assessment are different obligations
Reconcile recurring dues, outstanding assessments and the underlying repair before comparing a condo’s monthly costs.
Sources checked November 1, 2026 · Educational document review · No loan offer
Build the evidence before choosing an input
02
Special assessment
Resolution, payment schedule and balance
Identify purpose, original amount, remaining amount and expected completion; ask who pays at transfer.
03
Underlying condition
Inspection, repair plan and completion evidence
Fannie Mae’s agency guide distinguishes critical repairs and their assessment funding. A DSCR lender must state its own project treatment.
Fictional association budget
An authored teaching record; amounts and situations are fictional, not market statistics or actual borrower files.
- Recurring dues: $900 quarterly = $300/month.
- Separate assessment balance: $6,000, payable in 12 equal installments = $500/month during that year.
- First-year combined cash requirement: $800/month, excluding the mortgage and other expenses.
Do not label the recurring dues as permanently $800; preserve the assessment’s end date and lender treatment separately.
Turn the record into a usable next step
- 1
Request current dues and assessment documents from the association or authorized closing professional. Match the unit and verify the outstanding balance.
- 2
Ask what the assessment funds, whether work is complete and what evidence the lender requires. Do not treat a payment schedule as structural clearance.
- 3
Keep recurring dues in the appropriate calculator input and model the temporary assessment in your operating cash plan. Confirm the provider’s treatment instead of changing underwriting assumptions yourself.
What this evidence does not settle
The Fannie Mae source concerns its own condo/co-op eligibility standards. This guide does not apply those standards to all DSCR loans or judge a particular building.
Sources and scope
- Fannie Mae — Ineligible Projects
Agency treatment of critical repairs and special assessments; separate from DSCR program rules.
Read November 1, 2026. This is the check date, not a new effective date for the source.
- CFPB — Closing Disclosure explainer
Separates prepaids, escrow, monthly costs and closing adjustments in consumer-loan documents.
Read November 1, 2026. This is the check date, not a new effective date for the source.
The review steps are DSCRDealCheck’s editorial checklist. Agency guides and consumer mortgage explainers define documents and concepts; they do not establish a DSCR provider’s program rules or guarantee that consumer disclosure requirements apply to business-purpose financing. See the transaction-scope distinction in Regulation Z. Confirm the actual file with the provider and the relevant qualified professional.
Continue the property evidence review
Choose the unresolved document in your file. Each guide addresses a different input or obligation.