How do Closing Costs Work?

"Closing Costs" are the fees that pay for the various services involved when you sell or buy a home. Sellers & buyers often negotiate these closing costs.

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

Loan Estimate (Also known as the LE)

Very soon after you apply for a loan, we will give you the "Loan Estimate" of your costs. The closing costs enumerated in the LE are estimated based on Riviera Funding NMLS#861382 CA DRE Broker #01186669's experience with mortgage loans, but costs usually change by small amounts between the Loan Estimate (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 will give you a specific list of closing costs, with amounts, soon after you complete your 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
  • Escrow Fees
  • Various Taxes
  • Loan Origination Fee
  • Points — lower your mortgage interest rate (optional)
  • Appraisal Costs
  • Pulling Your Credit Report
  • Interest Payment
Property Taxes
  • Recording Fees and Transfer Taxes
  • Insurance
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood / Earthquake Insurance if applicable

Riviera Funding NMLS#861382 CA DRE Broker #01186669 can answer questions about these closing costs. Give us a call at 3103737406.

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Riviera Funding NMLS#861382 CA DRE Broker #01186669

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