How do Closing Costs Work?

"Closing Costs" are the fees that pay for the various services involved in the sale of a house. Sellers & buyers often negotiate the payment of these costs.

As the list below indicates, many of the closing costs result from getting your loan. Since Riviera Funding NMLS#861382 CA DRE Broker #01186669 has extensive experience with closings and mortgages, we are closing cost experts.

Loan Estimates (LEs)

Very shortly after you apply for a loan, we'll give you a "Loan Estimate" of your costs. The closing costs enumerated in the Loan Estimate are estimated based on Riviera Funding NMLS#861382 CA DRE Broker #01186669's experience with mortgage loans, but costs often change a little bit between the LE and closing. We will be glad to review the "Loan Estimate," answering questions and pointing out costs that sometimes vary a little bit at the closing table.

We've provided a general list of closing costs below, but we'll provide you a specific list of closing costs, with amounts, very soon after you have completed your loan application. At Riviera Funding NMLS#861382 CA DRE Broker #01186669, 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
  • Points — These are costs you pay up-front to lower your interest rate (optional)
  • Appraisal Costs
  • Credit Report
  • Up-front Interest Payment
  • Escrow Fees
  • Various Taxes
  • Loan Origination Fee
Property Taxes
  • Insurance
  • Recording Fees and Transfer Taxes
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood / Quake Insurance if applicable

At Riviera Funding NMLS#861382 CA DRE Broker #01186669, we answer questions about closing costs every day. Call us at 3103737406.

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Riviera Funding NMLS#861382 CA DRE Broker #01186669

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1801 S. Catalina Avenue Suite #201
Redondo Beach, CA 90277