"Closing Costs" are the fees that cover the various services involved when you sell or buy a house. Buyers and sellers negotiate the payment of these closing costs.
As you'll see below, many of the buyer's costs are related to the costs of originating the mortgage loan. At Riviera Funding NMLS#861382 CA DRE Broker #01186669, we have extensive experience in mortgage lending, so we can compile a comprehensive report on mortgage-related closing costs in your "Loan Estimate".
Buyers will get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. We base this closing cost estimate on our extensive past experience. It's important to note that while our LEs are very accurate, we can't always predict costs to the penny. We review Loan Estimates with buyers every day, so we'd be glad to answer your questions about closing costs.
Below is a generic list of costs for buying a home. We will provide you with a specific list of your closing costs when we give you a Loan Estimate.
Standard Closing Costs Loan-Related Costs Pulling YourCredit Report Up-front Interest Payment Escrow Fees TaxesCosts related to "originating" your loan Points — lower your interest rate (optional) Appraisal Fee Property Taxes InsuranceRecording Fees and Transfer Taxes Homeowners Insurance Flood / Quake Insurance if applicablePrivate Mortgage Insurance (PMI) Title Insurance
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