Before you buy a home with an FHA loan, it’s important to know what to expect at closing.
FHA closing costs typically range from 2% to 5% of your loan amount and include fees like the appraisal, title insurance, lender charges, and upfront mortgage insurance (UFMIP).
This calculator gives you a quick, personalized estimate of:
Just enter your home price and down payment to get started.
Now that you have an estimate of your FHA loan closing costs, you might be wondering how to reduce what you’ll need to bring to the closing table.
Fortunately, FHA loans are flexible, and there are several ways to lower your total costs.
Ask for seller concessions: FHA allows the seller to cover up to 6% of the home price in closing costs.
Use gift funds: Family members can help with your down payment or closing costs.
Apply for down payment assistance: Many state and local programs cover both down payment and closing expenses.
Shop multiple lenders: Loan origination fees can vary significantly between FHA-approved lenders.
Roll UFMIP into your loan: The upfront mortgage insurance premium (1.75%) doesn’t have to be paid out of pocket.
Understanding your options can help you save thousands, or even eliminate out-of-pocket costs entirely.
