FHA Loan Closing Costs: What To Expect

FHA loans make homeownership more affordable with lower interest rates and down payments. However, buyers must pay closing costs, including administrative and service fees, mortgage insurance premiums, and other prepaid fees. These costs, typically 3-6% of the home price, can't be counted towards the down payment. Options to manage these costs include assistance from eligible donors, negotiating with the lender, or rolling the costs into the mortgage.

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