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Typical Closing Costs for an FHA loan?

I possibly might be moving from my apartment next summer. Since we purchased this apartment, my wife and I have had two kids and we're thinking that we might try to pile up Cash and take the home ownership plunge.
If we use an FHA loan, what are the typical closing costs for a home in the 180,000 to 200,000 range? I've heard 3-5%. That means on a $200,000 house closing costs would be from $6000 to $10000. Is that correct? It seems high to me. Thanks. 
  • September 13 2013 - US
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Answers (6)

I would say that those costs sound about right. I don't think you're getting ripped of if that's what you're worrying about. Closing costs is just a part of the process.

Well I hope this helps! If you have any further questions or if you need a loan, feel free to contact me.

Good Luck!
  • September 13 2013
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3% seems pretty accurate to me!
  • September 13 2013
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Profile picture for cassandraevers
3% should be a pretty safe bet for a loan amount this high.
When you make the offer, ask for 3% in seller concessions!
  • September 13 2013
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Profile picture for GMerino
It all depends but always save enough for the 3.5% down and the closing fees will differ from loan officer to loan officer, they make money as well and other factors such as title fees, escrow, etc. 
  • September 13 2013
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The State is Connecticut.
  • September 13 2013
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 It differs from state to state. Some states have tax stamps, some do not. I would figure 3.5% for the down payment and 3% for closing costs.
  • September 13 2013
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