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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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June 28, 2017
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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 exising 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 Articles and Mortgage News

Read About FHA Requirements, Updates, and Guidelines
Are FHA Loans Allowed When One Family Member Buys a Home From Another?

May 29, 2017 - FHA loan rules have special requirements for home loan transactions that may be termed “identity of interest”. These transactions, which are sometimes allowed, are between parties with an existing business relationship or between family members.

Verifying Alimony and/or Child Support for FHA Loans

May 16, 2017 - The FHA Loan Handbook states that a borrower may use alimony/child support income to qualify for an FHA home loan if it can be verified and meets FHA requirements. How does your FHA lender may consider alimony and child support as part of a borrower’s effective income? 

Time to Get Started With an FHA Loan

May 1, 2017 - Are you thinking about your options for an FHA mortgage? Borrowers should spend plenty of time examining several aspects of their finances and credit before filling out paperwork or online forms to apply or get pre-approved for an FHA loan.

What Does the FHA Handbook Says About Work Permit Rules?

April 16, 2017 - U.S. citizenship is not a requirement for borrowers seeking an FHA home loan or refinance loan. The FHA loan Handbook, HUD 4000.1, states clearly that while only legal resident or nonresident aliens are eligible to apply, actual U.S. citizenship is not an issue. 

FHA Loan Employment Guidelines

March 31, 2017 - Are you worried about being denied an FHA loan because of a gap in employment? While FHA loan standards for employment in HUD 4000.1 are not the only standards that are recognized, it is good to know what FHA loan rules instruct the lender to do as a minimum.