Why Condo Fees Can Shrink Your Mortgage Approval More Than You'd Expect

Under standard GDS/TDS calculations, lenders include 50% of monthly condo fees as a housing cost, alongside your mortgage payment, property tax and heating.

That means two identically priced properties — one freehold, one condo with high fees — can produce noticeably different qualifying amounts for the same buyer.

If you're condo shopping, it's worth running your numbers with the specific building's fees rather than a rough citywide average, since fees vary widely by building age, amenities and reserve fund health.