Closing Costs (on a FHA Loan)

[Diana Bakema]

Hi everybody!

I am doing some research on the "cost to buy a home" within a FHA loan.

Besides the downpayment, we have those closing costs.

As i am looking in FL with a credit score of 720/730 how much would that be?

Any other costs to include besides also a home inspection?

Anyone who could help?

Thank you

[Russell Brazil]

Originally posted by @Robert M Parsons:

@Russell Brazil why is this? Is it not a good route to take?

FHA is a last resort loan for those with bad credit. The homeready loan allows for a lower down payment at 3%, lower PMI, and lower fees. The only reason to use FHA is if you have bad credit, or are buying a multifamily. FHA is the only low down payment option for multis.