FHA defines allowable closing costs that may be charged for the FHA loan to the borrower. These costs are determined as reasonable and customary by each local FHA office.
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FHA Closing Costs

FHA Allowable Costs Charged to the Borrower

The FHA defines allowable closing costs that may be charged to the borrower. These costs are determined as reasonable and customary by each local FHA office.

All other costs in the transaction are considered non-allowable and generally paid by the seller when purchasing a new home or by the lender when refinancing your current FHA mortgage.

  • The appraisal fee and any inspection fees
  • Actual cost of credit reports
  • Lender's origination fee
  • Deposit verification fees
  • Home inspection service fees up to $200
  • Cost of title examination and title insurance
  • Document preparation (by a third party not controlled by the lender)
  • Property survey
  • Attorney's fees
  • Recording fees, transfer stamps and taxes
  • Test and certification fees, water tests, etc.

Allowable in a refinance: courier fees, wire transfer fees, fees to payoff bills, reconveyance fees.



Home Equity Conversion Mortgages, or HECM for short, are designed to help qualified borrowers take out an FHA guaranteed loan against the equity built up in their property. What does it take to be eligible to apply for an FHA home loan? FHA requirements include details about income, credit rating and other factors, but before a loan officer looks at any of that information, an applicant has to meet the basics. If you had Upfront Mortgage Insurance on FHA mortgages signed on or after December 8, 2004, you would not be entitled to a refund from the FHA on your Upfront Mortgage Insurance.



FHA Loan Rates
Refinance Averages
for 11/01/2014
15 Year Fixed
No Points
Low Interest
Best APR
OR
30 Year Fixed
No Points
Low Interest
Best APR
FHALoan is a private corporation, is not a government agency, and does not make loans.