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 Reverse Mortgage Loan Costs You Should Know

July 17, 2024 - What fees and expenses can you expect from an FHA reverse mortgage, also known as an FHA home equity conversion mortgage (HECM)? There are a number of important costs to save for. We examine them in this article.

Home Loan Options: Types, Rates and Terms

July 16, 2024 - There are many options to consider when planning your home loan. One good example? Some borrowers wonder if they should choose a 15-year FHA loan over a 30-year mortgage. Those who want to save as much money might consider the 15-year FHA loan, but there are other choices.

FHA Updates 203(k) Rehabilitation Loan Policy

July 13, 2024 - According to HUD, the changes announced in early July 2024 modernize the program and enhance its usefulness for individuals and families seeking affordable financing for renovating or rehabilitating a single-family home when purchasing or refinancing it.

When Is an Appraisal Required for an FHA Refinance?

July 11, 2024 - Appraisals and home inspections are two separate but very important processes. For the purpose of this article, we focus on the mandatory FHA appraisal process the lender uses to establish the fair market value of the home.

What is an FHA Reverse Mortgage?

July 9, 2024 - The FHA Home Equity Conversion Mortgage (HECM) loan program is an option for qualifying borrowers 62 or older. These loans require no monthly payment and feature a cash out option for the borrower.