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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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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 existing FHA loan.

FHA Closing Costs
  • 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 Requirements

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FHA Loan Articles and Mortgage News

FHA Home Loans and Debt

April 9, 2021 - The debt-to-income ratio is an important calculation for all borrowers--the more income you have compared to outgoing payments every month the better. So how do borrowers with a lot of debt deal with this problem? Learn about what the FHA considers to be a debt.

FHA Loan Down Payment Rules You Should Know

April 8, 2021 - There are some general FHA loan rules you should know in the planning stages of your new loan--rules that can help you decide what to do about saving up for a down payment or how to deal with closing costs. Knowing these rules can help you get much closer to home loan approval.

FHA One-Time Close Construction Loan Rules and Lender Requirements

April 6, 2021 - When you examine your FHA construction loan options, choosing between a One-Time Close construction loan and other construction loan options with two loans and two closing dates are only part of your decision-making process.

The FHA Refinance Loan Maximum Mortgage Calculation

April 5, 2021 - There are many myths people have about FHA home loans. One is the nature of the required FHA mortgage down payment or maximum financing available.  The borrower is required to make a minimum down payment on all new purchase FHA mortgage loans (3.5%).

FHA Loan Approval and Your Debt Ratio

April 1, 2021 - Some home loan applicants apply for an FHA mortgage thinking that their credit scores are the main factor in home loan approval. Others might know that both FICO scores and your record of on-time payments are crucial for loan approval.