N/A - Homeowner's Association Certification Letter
Homeowner's Association Certification Letter This fee covers the cost of getting a letter from a condominium's homeowner's association that provides background information on the property. For example, they will notify the lender whether they are involved in any litigation, the number of units that are owner-occupied, the number of units that are past due on fees, etc. We have estimated this cost at $125, but the fee will be set by the homeowner's association. This fee will generally only apply for purchases of a condominium, but there may be exceptions. There is no predefined line item number used for this charge, therefore, it will appear under different numbers for different loans.