About Closing Costs
There are certain standard costs related to closing the sale of a house. Sellers and buyers customarily split these closing costs, as specified in the sales contract.
As the list below indicates, many of the closing costs result from getting your loan. At Riviera Funding NMLS#861382 CA DRE Broker #01186669, we have extensive experience in mortgage lending, so we can provide you with a comprehensive list of costs related to your mortgage in your "Loan Estimate".
The Loan Estimate (LE)
Very soon after you apply for a loan, we'll provide you with the "Loan Estimate" of your costs. The closing costs specified in the Loan Estimate are estimated based on our experience with mortgage loans, but costs usually vary by small amounts between delivery of the LE and closing. We field buyers' questions about closing costs every day at Riviera Funding NMLS#861382 CA DRE Broker #01186669, so please feel free to ask if we can help answer your questions.
We've provided a general list of closing costs below, but we'll provide 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 will be sure to let you know immediately.
Standard Closing Costs
Loan-Related Costs
- Points — A fee paid to lower your mortgage interest rate (optional)
- Appraisal Costs
- Obtaining Your Credit Report
- Interest Payment
- Escrow Account
- Various Taxes
- Costs associated with "originating" your loan
Property Taxes
- Insurance
- Recording Fees & Transfer Taxes
Homeowners Insurance
- Flood / Quake Insurance if applicable
- Private Mortgage Insurance (PMI)
- Title Insurance
Riviera Funding NMLS#861382 CA DRE Broker #01186669 can help you understand closing costs. Give us a call at 3103737406.