Closing Costs and FHA Home Loans
The FHA strictly defines and restricts the closing costs associated with an FHA loan that the borrower must pay. While specific costs and amounts vary slightly and are determined by local FHA offices, this list can help borrowers to anticipate the costs associated with their FHA Home Loan.
- Lender’s origination fee
- Deposit verification fees
- Attorney’s fees
- The appraisal fee and any inspection fees
- 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
The total dollar amount of closing costs in every loan will vary from lender to lender. The above list is a great guide to follow as far as which fees are allowed under the FHA loan program. For details and additional information, please contact our FHA Home Loan Specialists.