Certain standard costs are related to closing the sale of a home. Sellers and buyers customarily split these closing costs, as specified in the sales contract.
As indicated below, many of the buyer's costs are related to the costs of getting the mortgage loan. At Riviera Funding, we have extensive experience in residential mortgage lending, so we can provide you with a comprehensive list of mortgage-related costs in your "Loan Estimate".
Buyers will get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. This cost estimate comes out of the loan officer's past experience. Please note that while our LEs are very accurate, we can't always predict closing costs to the penny. We will be glad to review the "Loan Estimate," answering questions and pointing out costs that can vary a little bit at the closing table.
Below you'll find a fairly generic list of closing costs. We will always provide a specific list of your closing costs when we give you a Loan Estimate.
Standard Closing Costs
Credit Report Up-front Interest Payment Escrow Fees TaxesLoan-related costs Points — A fee paid to lower your mortgage interest rate (optional) Appraisal Fee
Recording Fees & Transfer Taxes Insurance
Private Mortgage Insurance (PMI) Title Insurance Flood / Earthquake Insurance
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