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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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September 21, 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
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? 

Up Front Mortgage Insurance Premium (UFMIP) Changes for FHA Loans

May 15, 2017 - When buyers are approved for FHA home loans, they are required to carry mortgage insurance. That includes both a Mortgage Insurance Premium (MIP) and an Up Front Mortgage Insurance Payment (UFMIP).

FHA Debt-to-Income Ratio Requirements

May 14, 2017 - FHA loan requirements include a maximum debt to income ratio. When a borrower applies for an FHA mortgage, they are required to disclose all debts, open lines of credit, and all possible approved sources of regular income.

Can I Make an FHA Home Purchase for a Fixer-Upper?

May 11, 2017 - Homebuyers don't always want to take out an FHA guaranteed loan to purchase a brand new home. There are plenty of bargains to be had purchasing "fixer-upper" properties, and you can save thousands of dollars on the purchase price of a home that has fallen into disrepair.

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.