"Closing Costs" are the fees that cover various services involved in the sale of a home. Sellers & buyers usually negotiate to decide how to share these closing costs.
Many of the costs associated with buying a home are associated with getting a loan. Since Riviera Funding is highly experienced with closings & mortgages, we are closing cost experts.
Soon after you apply for a loan, we will give you a "Loan Estimate" of your costs. The closing costs enumerated in the Loan Estimate are estimated based on Riviera Funding's experience with mortgage loans, but costs often change a little bit between the LE and closing. We answer buyers' questions about closing costs every day at Riviera Funding, so don't hesitate to ask if you have questions.
We've provided a general list of these costs below, but we will provide you a specific list of closing costs, with amounts, soon after you have completed your application. At Riviera Funding, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.
Standard Closing Costs
Appraisal Costs Getting Your Credit Report Interest Payment Escrow Account TaxesLoan Origination Fee Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
InsuranceRecording Fees & Transfer Taxes
Flood / Earthquake Insurance if applicablePrivate Mortgage Insurance (PMI) Title Insurance
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