FHA loans require a down payment and they also have closing costs that are tied to them. Just because both of these items are paid at the closing, however, does not mean that they are the same thing. There are different rules that pertain to FHA down payments and FHA closing costs. Understanding the differences and what you need to do about them will help you better navigate the road to an FHA loan.
4. FHA Closing Cost Requirements
The FHA closing cost requirements vary quite a bit based on
your location. The common FHA closing costs that are allowed
include:
Origination fees
Appraisal fees
Title search and insurance fees
Processing or documentation fee
Credit report costs
Inspection costs
Survey fees
Recording fees