All residential real estate sales involves certain fixed costs. Sellers and buyers customarily share these closing costs, as specified in the real estate sales contract.
As indicated below, many of the buyer's costs are related to the costs of originating the mortgage loan. Since Riviera Funding has extensive experience with closings & mortgages, we are closing cost experts.
Buyers will get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. This closing cost estimate is based on our past experience. It's important to note that while our LEs are very precise, we cannot always estimate costs to the penny. We answer questions about closing costs every day at Riviera Funding, so please feel free to contact us if you have questions.
Below is a general list of costs for buying residential real estate. We will always provide you with a specific list of your closing costs when we deliver your Loan Estimate.
Standard Closing Costs Loan-Related Costs Escrow Fees Various TaxesLoan-related costs Points — These are costs you pay up-front to lower your interest rate (optional) Appraisal Costs Credit Report Up-front Interest Payment Property Taxes InsuranceRecording Fees & Transfer Taxes Homeowners Insurance Title Insurance Flood or Quake Insurance Private Mortgage Insurance (PMI)
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