FHA Loan Closing Costs
You should consider closing costs when you purchase a home through the FHA loan program. The FHA makes it affordable to purchase a home, which is why they allow you to finance up to 96.5% of the value of your home.
The closing costs and fees that the FHA allows you to finance into your mortgage include:
- The lender's mortgage loan origination fees
- You may be eligible for a FHA loan if you have judgments against you if the judgments are paid prior to closing
- Appraisal fees to determinine the value of the home
- Inspection fees to determine the condition of the home and if there are any problems with the home that need to be fixed
- Any deposit verification fees associated with the purchase of the home
- Any costs associated with the title, including the title search and title insurance for the home
- Any costs associated with preparing documents that are required for the mortgage loan and purchase of the home
- The cost of any credit reports that are required for the mortgage loan
- Any recording fees and taxes associated with the purchase of the home
|
|
