About Closing Costs
"Closing Costs" are the fees which 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 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 are highly experienced in residential mortgage lending, so we can provide you with a comprehensive report on costs related to your mortgage in your "Loan Estimate".
Loan Estimates (LEs)
Very shortly after you submit your application, we will give you a "Loan Estimate" of your costs. The closing costs specified in the LE are estimated based on Riviera Funding NMLS#861382 CA DRE Broker #01186669's experience with mortgage loans, but costs usually vary by small amounts between delivery of the Loan Estimate (LE) and closing. We will be glad to review the "Loan Estimate," answering 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 provide you a specific list of closing costs, with amounts, 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
- Appraisal Costs
- Getting Your Credit Report
- Up-front Interest Payment
- Escrow Account
- Taxes
- Loan-related costs
- Points — A fee paid to lower your mortgage interest rate (optional)
Property Taxes
- Insurance
- Transfer Taxes and Recording Fees
Homeowners Insurance
- Private Mortgage Insurance (PMI)
- Title Insurance
- Flood / Quake Insurance if applicable
Riviera Funding NMLS#861382 CA DRE Broker #01186669 can help you understand closing costs. Give us a call at 3103737406.