"Closing Costs" are the fees which cover the various services involved when you sell or buy residential real estate. Sellers and buyers almost always negotiate to determine who will pay different portions of these costs.
As the list below indicates, many of the costs result from getting your mortgage loan. Since Riviera Funding has extensive experience with mortgages and closings, we are closing cost experts.
Buyers get a "Good Faith Estimate" of closing costs at the time the loan application is submitted to the lender. The cost estimate comes out of our past experience. Please note that while our GFEs are very precise, we can't always predict your costs to the penny. We will be glad to review the "Good Faith Estimate," answering questions and pointing out costs that can change slightly at the closing table.
Below you'll find a generic list of costs for buying a home. We will provide a specific list of your closing costs when we give you a Good Faith Estimate.
Standard Closing Costs
Interest Payment Escrow Fees Various TaxesCosts related to "originating" your loan Points — A fee paid to lower your mortgage interest rate (optional) Appraisal Costs Getting YourCredit Report
Recording Fees & Transfer Taxes Insurance
Flood or Earthquake Insurance if applicablePrivate Mortgage Insurance (PMI) Title Insurance
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