All residential real estate sales incurs fixed costs. Buyers and sellers usually split these costs, as the real estate sales contract specifies.
As you'll see below, many of the buyer's closing costs are related to the costs of originating the mortgage loan. Since Riviera Funding is highly experienced with mortgages & closings, we are closing cost experts.
Soon after you apply for a loan, we will provide you with the "Loan Estimate" of your closing costs. The closing costs specified in the LE are estimated based on our experience with mortgage loans, but costs often change a little bit between delivery of the Loan Estimate (LE) and closing. We answer questions about closing costs every day at Riviera Funding, so please feel free to ask if you have questions.
We've provided a general list of closing costs below, but we will give you a specific list of closing costs, with amounts, very soon after you have completed 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
Loan Origination Fee Points — lower your mortgage interest rate (optional) Appraisal Costs Obtaining Your Credit Report Up-front Interest Payment Escrow Account Various Taxes
InsuranceRecording Fees and Transfer Taxes
Flood / Earthquake Insurance Private Mortgage Insurance (PMI) Title Insurance
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