The closing costs of a 203k loan: what you need to know

The dream of owning your own home can quickly become a costly affair, especially if the condition of the home is less than perfect. A 203k loan can be an option to finance the purchase and repair of a home, but what are the closing costs?
A 203k loan is a Federal Housing Administration (FHA) loan that allows buyers to purchase a home while making necessary repairs and renovations. Closing costs refer to fees incurred at closing of the loan, including loan origination fees, inspection fees, and attorney fees.