How this calculator works
If the payment is later than the grace period, the flat late fee applies. Interest accrues daily on the past-due amount for each day after the grace period ends.
Formula: interest = past-due amount × (annual rate ÷ 100) × (days late − grace period) ÷ 365. Your governing documents and state law set the late fee, the interest rate, and when they start, and some states cap both.
Estimates only, not financial or legal advice. Results depend on your governing documents and state law.
Frequently asked questions
How much can an HOA charge for late fees?
Your governing documents set the amount, and some states cap late fees or interest rates. Check both before charging.
Does interest start on the due date?
It depends on your documents. Many associations start interest after the grace period; others start it on the due date.
Can an HOA charge both a late fee and interest?
Often yes, if the governing documents allow both and state law doesn’t prohibit it.