"Closing Costs" are the fees which cover the various services involved when you sell or buy a house. Buyers & sellers usually negotiate to determine who will pay different portions of these closing costs.
As the list below indicates, many of the closing costs result from getting your mortgage loan. At Riviera Funding NMLS#861382 CA DRE Broker #01186669, we are highly experienced in mortgage lending, so we can compile a comprehensive report on mortgage-related closing costs in your "Loan Estimate".
Buyers get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. The closing costs spelled out in the LE are estimated based on our experience with mortgage loans, but costs usually vary a little bit between delivery of the LE and closing. We go over Loan Estimates with buyers almost every day, so we will be happy to answer the you have about closing costs.
Below you'll find a fairly general list of costs for buying a home. We will always provide a specific list of your closing costs when we give you a Loan Estimate.
Standard Closing Costs
Appraisal Fee Credit Report Interest Payment Escrow Account Various TaxesLoan Origination Fee Points — These are costs you pay up-front to lower your interest rate (optional)
Insurance Transfer Taxes and Recording Fees
Title Insurance Flood or Quake Insurance Private Mortgage Insurance (PMI)
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