http://www.trulia.com/voices/Home_Selling/I_understand_that_FHA_loans_requires_sellers_to_pa-80821Person, approved for FHA loan wants to purchase my house, and, as the seller, I'm concerned I will be required to pay many of what would normally be her closing costs - if it were a conventional loan. I'm finding conflicting information on the web. Can anyone tell me what the current FHA rules are on this? Thank YOu.en-ushttp://www.trulia.com/voices/profile/Real_Estate_Pro-Fayetteville_AR-312654/http://www.trulia.com/voices/profile/Real_Estate_Pro-Fayetteville_AR-312654/Fees that the buyer is not allowed to pay ("government fees") under RESPA rules are now minimal, normally under $100. FHA loans hae become more popular in the current, more restrictive credit climate as so-called "zero down" loans have largely disappeared. FHA loans require that the buyer contribute at least 3.5%. But a normal FHA mortgage generally costs more than that, including buyer's closing costs, origination fee, bank loan fees, mortgage insurance, prepaid taxes and insurance, etc. Under FHA rules, the seller may pay up to 6% of the buyers closing costs and prepaids. These are a negotiable point and may be added on to the asking price. However, the buyer's lender will be sending out an appraiser to assure that the home is worth what the buyer is paying. So the house must appraise for the higher price. Whatever the buyer is asking for should be written into the offer to purchase or real estate contract. Your agent should prepare a "seller's net sheet" for you and advise you as to recent comparable sales to allow you to make an informed decision on this. If you are trying to sell the home yourself, my advice is to get an agent. The current market is somewhat tricky, so what was true in the past may no longer be true.Sun, 18 Jan 2009 08:50:12 -0800http://www.trulia.com/voices/profile/Real_Estate_Pro-Plano_TX-632847/http://www.trulia.com/voices/profile/Real_Estate_Pro-Plano_TX-632847/Short answer, No. (In regards to "Many of the buyers closing costs") The seller on my home was not "required" to pay anything. I, however, worked it into my contract that she pay a few things plus $1000 extra. So all in all I saved $2k because she accepted the contract stating she WOULD pay for it.Sat, 17 Jan 2009 10:23:38 -0800http://www.trulia.com/voices/profile/Real_Estate_Pro-Elk_Grove_Village_IL-192715/http://www.trulia.com/voices/profile/Real_Estate_Pro-Elk_Grove_Village_IL-192715/Lee, the required seller closing costs for an FHA loan are minimal. In fact my board contract has a ceiling of $200 for miscellaneous seller paid expenses that are required by the buyer's lender. Check with your local broker. You may be finding information on the web regarding closing costs that are negotiated between buyer and seller. The FHA does set limits on those cost, but those costs are not required. They are simply used by sellers as a marketing tool to get their home sold.Sat, 17 Jan 2009 10:15:20 -0800