Closing Costs for Home Real Estate Transactions

Every home sale involves fixed costs. Sellers and buyers usually share these costs, as the sales contract specifies.

As indicated below, many of the buyer's costs cover the costs of originating the mortgage loan. At Riviera Funding, we are highly experienced in mortgage lending, so we can compile a comprehensive report on costs related to your mortgage in your "Loan Estimate".

The Loan Estimate (LE)

Very soon after you submit your application, we will provide you with a "Loan Estimate" of your costs. The closing costs spelled out in the LE are estimated based on our experience with mortgage loans, but costs usually change by small amounts between delivery of the Loan Estimate (LE) and closing. We review LEs with buyers almost every day, so we will be happy to answer your questions about closing costs.

We've provided a general list of these costs below, but we'll give you a specific list of closing costs, with amounts, very 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

Loan-Related Costs
  • Up-front Interest Payment
  • Escrow Account
  • Taxes
  • Costs associated with "originating" your loan
  • Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
  • Appraisal Costs
  • Credit Report
Property Taxes
  • Insurance
  • Transfer Taxes & Recording Fees
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood / Earthquake Insurance

Riviera Funding can help you understand closing costs. Give us a call at (310) 373-7406.

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