FHA defines which closing costs are allowable as charges to the borrower. The specific costs and amounts that are deemed reasonable and customary are determined by each local FHA office.

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June 28, 2016
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FHA Requirements

Closing Costs and Allowable Charges

While FHA requirements define which closing costs are allowable as charges to the borrower, the specific costs and amounts that are deemed reasonable and customary are determined by each local FHA office. All other costs are generally not allowed and are usually paid by the seller when buying a new home, or paid by the lender when refinancing your exising FHA loan.

  • Lender's origination fee
  • Deposit verification fees
  • Attorney's fees
  • The appraisal fee and any inspection fees
  • Lender's origination fee
  • Cost of title insurance and title examination
  • Document preparation (by a third party)
  • Property survey
  • Credit reports (actual costs)
  • Transfer stamps, recording fees, and taxes
  • Test and certification fees
  • Home inspection fees up to $200

Allowed in an FHA refinance loan are wire transfer fees, courier fees, reconveyance fees, and fees to payoff bills.

FHA Loan Articles

Read About Mortgage News, FHA Updates, and Guidelines
Participating Lender Standards for FHA Loans

There are many common questions about FHA home loans. One area that confuses some borrowers or potential borrowers has to do with the difference between FHA single family loan rules and minimum standards, and individual lender standards.

The Facts About FHA Requirements on Caps and Minimums

Some borrowers want to know if FHA home loans have an income limit. The implication is often that FHA loans are intended for a certain type of applicant and that some borrowers might be disqualified for an FHA mortgage because they earn too much money.

HUD Announces Additional Funds for Housing Counseling Grants

A local, HUD-approved housing counseling agency can be very helpful for a borrower in the planning stages of a new purchase home loan, or a credit-check-required FHA mortgage loan refinance. Housing counseling can be valuable, especially for first-time home buyers.

The Advantage of Using an Online FHA Loan Calculator

Buying a home with an FHA mortgage means taking into account several variables. The selling price of the home is one of them, and borrowers need to budget for closing costs, a home inspection, plus taxes and insurance. An FHA mortgage calculator will help you estimate your your monthly mortgage payment amount.

How to Qualify for an FHA Reverse Mortgage

The FHA reverse mortgage loan program is known as the Home Equity Conversion Mortgage or HECM for short. Lots of people are interested in reverse mortgages--but who qualifies for the FHA version of the reverse mortgage and how do you know if your home is eligible for the loan?