Closingi costsi that may be charged to the buyer are considered "allowable" closing costs per HUDi. These are buyer costs that are reasonable and customary as determined by the local FHAi office. All other costs are considered non-allowable are are generally paid by the seller when purchasing a home or the lender when refinancing your current FHA mortgagei. The following tables gives a break down of the FHA loan regulation closing costs:
| Allowable |
Non-allowable |
- Appraisali Fee (if customary)
- Crediti Reporti Fee
- Compliance Inspection Fee (max $75)
- EEM Report Fee
- Endorsement Fee (related to titlei insuranceii only)
- Escrowi Fee (1/2 of the total transaction feei and not more than the seller)
- Home Inspectioni Fee
- Notary Fee
- Origination Feei (max 1% of loan)
- Recordingi Fee
- Title Insurance
Allowable in a Refinancei
- Beneficiaryi Statement
- Courier Fee
- Wire Transfer Fee
- Payoffi of other bills
- Re-conveyancei Fee
|
- Bring-down Fee
- Processing Fee
- Document Preparation Fee (unless the documents were prepared by a company other than the lender)
- Documentary Transfer Stamp Tax
- Flood Certification Fee
- Inspection Fee (only FHA appraisal compliance inspection are permitted)
- Loan Tie-in Fee
- Photo Fee
- Tax Service Fee
- Underwritingi Fee
|
The aforementioned list of FHA closing costs is not an all-inclusive list and is subject to change by HUD.
