"Closing Costs" are the fees that pay for various services involved in the sale of a home. Sellers & buyers almost always negotiate to determine who will pay different portions 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. Since Riviera Funding NMLS#861382 CA DRE Broker #01186669 has extensive experience with closings & mortgages, we can help you understand your closing costs.
Soon after you submit your application, we'll provide you with a "Loan Estimate" of your closing costs. The closing costs specified in the Loan Estimate are estimated based on our experience with mortgage loans, but costs often vary a little bit between delivery of the LE and closing. We will be glad to review the "Loan Estimate," answering your questions and highlighting costs that sometimes vary a little bit at the closing table.
We've provided a general list of these costs below, but we'll give you a specific list of closing costs, with amounts, very soon after you have completed your application. At Riviera Funding NMLS#861382 CA DRE Broker #01186669, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.
Standard Closing Costs Loan-Related Costs Obtaining YourCredit Report Interest Payment Escrow Fees Various TaxesCosts associated with "originating" your loan Points — A fee paid to lower your interest rate (optional) Appraisal Fee Property Taxes Insurance Transfer Taxes and Recording Fees Homeowners Insurance Flood or Earthquake Insurance Private Mortgage Insurance (PMI) Title Insurance
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