All residential real estate sales involves certain fixed costs. Sellers and buyers almost always split these costs, as the sales contract specifies.
Many of the closing costs associated with buying residential real estate are associated with getting the mortgage loan. At Riviera Funding, we have extensive experience in mortgage lending, so we can provide you with a comprehensive list of mortgage-related closing costs in your "Loan Estimate".
Soon after you submit your application, we will provide you with a "Loan Estimate" of your closing costs. The closing costs spelled out in the LE are estimated based on Riviera Funding's experience with mortgage loans, but costs often vary a little bit between delivery of the Loan Estimate (LE) and closing. We review Loan Estimates with buyers every day, so we'd be glad to answer your questions about closing costs.
We've provided a general list of closing costs below, but we'll provide you a specific list of closing costs, with amounts, soon after you complete your loan application. At Riviera Funding, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.
Standard Closing Costs
Points — A fee paid to lower your interest rate (optional) Appraisal Costs Getting Your Credit Report Up-front Interest Payment Escrow Account TaxesLoan-related costs
Recording Fees and Transfer Taxes Insurance
Flood / Earthquake Insurance Private Mortgage Insurance (PMI) Title Insurance
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