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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 Loan Mistakes to Avoid in 2023

January 25, 2023 - No matter what the condition of the housing market, there are some important things to remember when buying a home with an FHA mortgage. Are you anticipating some of the most common home buying mistakes? Here are some things to look out for.

Are Interest Rate Buydowns a Good Idea?

January 23, 2023 - An interest rate buydown can temporarily lower the interest rate on a home loan; the USA Today example shows how a borrower could save $250 a month in the first year of home ownership using an interest rate buydown.

Choices to Make When Renovating Your Home

January 21, 2023 - Thinking about buying a fixer-upper with an FHA 203(k) Rehabilitation Loan? Or are you considering a home improvement project financed with an FHA Cash-Out Refinance? You have a set of choices to make far beyond selecting a lender, deciding on the loan type and term, etc.

HUD Announces Proposed FHA Appraisal Reform

January 20, 2023 - HUD wants to give FHA borrowers a way to formally complain about appraisal bias when purchasing a home with an FHA mortgage. It’s called a Reconsideration of Valuation, and it’s part of a larger effort to end racial bias in the housing industry.

Expected Housing Market Trends for 2023

January 17, 2023 - A lot of people wrote off the idea of buying a home in 2022 because of the unprecedented seller’s market, inflation, and rising interest rates. But in the early days of 2023, some industry professionals are saying this may be a better year to consider your options.