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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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April 23, 2019
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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.

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FHA Loan Articles and Mortgage News

Income You Can Use to Qualify for an FHA Mortgage

April 9, 2019 - Not all income is allowed to be used for the purposes of qualifying for your mortgage loan. For example, people who have a side income selling items online on Etsy or eBay may have a hard time convincing the lender to use that as part of your qualifying income.

FHA, VA, and USDA Construction Loan Options

April 8, 2019 - FHA One-Time Close construction loan options are available for borrowers who wish to apply for an FHA mortgage, but don’t want to buy an existing property. Not all borrowers understand they have options for this type of loan-options that include VA and even USDA construction loans for qualified applicants.

First-Time Home Buyer Questions

April 7, 2019 - Buying a home for the first time? Need some advice on how FHA home loans work? Here are some common questions about purchasing a home with an FHA mortgage you should know the answers to before getting started.

Is a Builder's Permit Needed for a One-Time Close Construction Loan?

April 6, 2019 - One of the main issues with construction loans with two closing dates is that there is no guarantee that the borrower will qualify for the second loan. Borrowers who do not use FHA One-Time Close loans must be careful with credit and related financial issues.

Refinance Loan Facts You Should Know

April 5, 2019 - You can apply for an FHA fixed rate refi loan or an adjustable rate refinance loan (ARM) depending on your financial needs and goals. Some home owners who started out with an ARM may wish to refinance  into a fixed rate loan, while others may refinance into another ARM.