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by Answerbag Staff on June 27th, 2010

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Can you roll closing costs into an FHA loan?

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  • by Michael Evans on June 27th, 2010

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    Closing costs cannot be rolled into an FHA loan for a new home purchase. FHA Streamline refinance loans allow borrowers to include closing costs in the loan amount, but at a higher interest rate. To qualify for the inclusion of closing costs in a Streamline loan, the property must have equity that is equal to or exceeds the amount of the closing costs.

    References:

    FHA: Cash Back, Closing Costs and FHA Streamline Loans

    Mortgage Loan: FHA Closing Costs: An Overview

    U.S. Department of Housing and Urban Development: Let FHA Loans Help You

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