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Your FHA mortgage is designed to get you into a home for a fair price; you should not be required to pay above and beyond the normal fees associated with buying a home. There are a set of payments, fees and other charges that are illegal.

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January 25, 2020
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FHA.com is a privately owned website, is not a government agency, and does not make loans.

Are Any Loan Connected Costs Prohibited?

FHA Common Question #12

There are a set of payments, fees and other charges that are illegal. If you are seeking an FHA loan, do not pay any unearned fees. These can include a fee paid above and beyond the level of service, a kickback, fees charged for a service that was not delivered or that was different than the service paid for.

FHA guidelines are not the sole regulation of these kinds of illegal fees-federal, state and local laws all prohibit some or all of these costs. If you feel you are being asked to pay a prohibited fee or cost, check with the FHA, or contact a housing counselor immediately to get advice, or consult a lawyer with expertise in home lending.

Your FHA mortgage is designed to get you into a home for a fair price; you should not be required to pay above and beyond the normal fees associated with buying a home.

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FHA Loan Articles and Mortgage News

One-Time Close Construction Loans: No Loan Limits?

January 21, 2020 - Is there really a construction loan that lets you build a house on your own lot with no loan limit? AND a zero-down loan at that? Believe it or not, such a loan DOES exist. It’s the VA Construction Loan, which can be offered as a One-Time Close mortgage.

Tips for FHA Home Loan Cosigners

January 18, 2020 - FHA loans permit cosigners, co-borrowers, even non-occupying co-borrowers. The rules for cosigning, co-borrowing, etc. are found in HUD 4000.1, the FHA Lender’s Handbook, but there may also be additional standards imposed by the lender.

Are You Due a Mortgage Insurance Refund From an FHA Loan?

January 15, 2020 - Some borrowers are, and some are not--much depends on the nature of your mortgage transaction. UFMIP is always required on FHA loan transactions and must be paid either in cash at closing time or must be financed into the loan amount.

There Are Different Kinds of One-Time Close Construction Loans

January 13, 2020 - A One-Time Close loan can help you build a home without the requirements some other construction loans have -- two applications, two loans, and two closing dates. These construction loans are for first-time home buyers AND experienced home owners alike.

FHA Home Loan Costs to Save for in 2020

January 12, 2020 - If you've already started saving for your down payment, your appraisal, compliance inspections, and other costs, you’re well ahead of the game. Those who haven’t started truly planning and saving may feel a bit lost when trying to get ready for the loan.