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Code of Federal Regulations Title 24. Housing and Urban Development § 24.242.18 Inspection fee

Current as of January 02, 2025 | Updated by Findlaw Staff

(a) The commitment may provide for the payment of an inspection fee in an amount not to exceed $5 per thousand dollars of the commitment. The inspection fee shall be paid no later than the time of initial endorsement.

(b) In the case of mortgages where the applicant is seeking only refinancing or acquisition, the inspection fee will not exceed 10 basis points on the loan. For applicants seeking a loan for refinancing or acquisition that also involves limited rehabilitation, the commitment shall provide for an inspection fee according to the following schedule:

Hard cost % of mortgage amount

Inspection fee limit

(basis points)

Less than 5%

10

5% or greater but less than 10%

20

10% or greater but less than 15%

30

15% or greater but less than 20%

40

20% or greater

50
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Cite this article: FindLaw.com - Code of Federal Regulations Title 24. Housing and Urban Development § 24.242.18 Inspection fee - last updated January 02, 2025 | https://codes.findlaw.com/cfr/title-24-housing-and-urban-development/cfr-sect-24-242-18/

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