"Closing Costs" are the fees which pay for the various services involved in the sale of a house. Sellers and buyers negotiate to determine who will pay different portions of these costs.
As you'll see below, many of the buyer's closing costs cover the costs of originating the loan. Since Riviera Funding NMLS#861382 CA DRE Broker #01186669 has extensive experience with closings and mortgages, we often explain the details of closing costs.
Buyers will receive 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 often change by small amounts between delivery of the Loan Estimate (LE) and closing. We answer questions about closing costs every day at Riviera Funding NMLS#861382 CA DRE Broker #01186669, so please feel free to contact us if you have questions.
Below you'll find a generic list of closing costs. We will provide you with a specific list of your closing costs when we deliver your Loan Estimate.
Standard Closing Costs Loan-Related Costs Points — lower your interest rate (optional) Appraisal Fee Getting Your Credit Report Interest Payment Escrow Account Various TaxesLoan Origination Fee Property Taxes InsuranceRecording Fees and Transfer Taxes Homeowners Insurance Private Mortgage Insurance (PMI) Title Insurance Flood / Earthquake Insurance
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