Services and Fees for FHA Mortgages
![fha-a11-66438f4500d95.png](https://97a71502eb772ee741d5-eec37cd46b952dd4b9d7b7ed972b68c1.ssl.cf1.rackcdn.com/fha-a11-66438f4500d95.png)
FHA Appraisal Services
The FHA appraisal is a mandatory fee you should budget for, and while there is no national standard for how much an appraisal might cost, up to the mid $400s for a single-family home.
Home Inspection Fees
Some call the home inspection optional, but don’t be fooled. No one should buy a home without having it inspected. These fees vary from state to state, but you may find home inspections running in the $400 range depending on location and other variables.
Pest Inspections
These may be mandatory when required by the lender or the appraiser. Prices range from $200 to $1000, so doing local homework in this area is smart.
Flood Hazard Determination
The lender may require any natural disaster determination, depending on where you want to buy. These fees may be in the $400 range, depending on where you want to buy the home.
Title Search
A title search may or may not be required, but borrowers should consider paying for one regardless to protect against nasty surprises later. Depending on where you’re house hunting, these fees can run into the $200 range.
Compliance Inspections
A compliance inspection may be mandatory if you had an FHA appraisal that required repairs to be made as a condition of home loan approval. Fees may vary depending on the housing market, demand, and the nature of the inspection itself.
Mortgage Insurance
It's mandatory but may be cancellable after 11 years if you pay 10% down or more. Borrowers should know this is calculated as a percentage of the loan amount, so there’s no ballpark average to point to for budgeting purposes.
These fees and expenses are all things to budget and save for as closing costs for your home loan. Remember that some expenses may be higher for homes with multiple units, and some FHA loans require fees that others do not.
------------------------------
RELATED VIDEOS:
Learn How to Meet FHA Requirements
Understanding APR
Your Proof of Ownership Is the Property Title
![](/assets/images/dots.png)
Do you know what's on your credit report?
Learn what your score means.
![](/assets/images/dots.png)