National FHA Loan Information
(Little or No Money Down FHA Loans)
HUD guarantees eligible loan applicants the ability to
obtain mortgages with little or no money down.
FHA loans can be fully assumable.
If you need to apply for an FHA mortgage or wish to
refinance a present mortgage, contact our FHA loan specialist
at toll free number or Specify FHA Mortgage in the comment
field of our on-line loan application. Let our FHA Department
review your eligibility requirements and approve you that FHA
mortgage you need.
The FHA financing process used to be more complicated then
conventional financing. Changes over the years have streamlined
the FHA loan process. In many cases, FHA home loans are easier
to obtain than conventional financing.
The following are allowable and non-allowable closing costs
that can be charged to the buyer.
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Allowable
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Non-Allowable
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Appraisal Fee
(if customary)
-
Credit Report
Fee
-
Compliance
Inspection Fee (max $75)
-
EEM Report
Fee
-
Endorsement Fee
(related to title insurance only)
-
Escrow Fee (1/2
of the total transaction fee and not
more than the seller)
-
Home Inspection
Fee
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Notary Fee
-
Origination Fee
(max 1% of loan)
-
Recording
Fee
-
Title
Insurance
|
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-
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
-
Underwriting
Fee
|
-
Beneficiary
Statement
-
Courier Fee
-
Wire Transfer
Fee
-
Payoff of other
bills
-
Reconveyance
Fee
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