"Closing Costs" are the fees that pay for the various services involved when you sell or buy a house. Sellers & buyers almost always negotiate these costs.
Many of the closing costs associated with buying residential real estate are associated with getting a mortgage. Since Riviera Funding is highly experienced with closings & mortgages, we are closing cost experts.
Buyers get a "Loan Estimate" of closing costs around 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 precise, we cannot always estimate costs to the penny. We handle buyers' questions about these costs every day at Riviera Funding, so please feel free to ask if we can help answer your questions.
Below is a generic list of closing costs. We will provide you with a specific list of your closing costs when we provide your Loan Estimate.
Standard Closing Costs Loan-Related Costs Credit Report Interest Payment Escrow Account TaxesLoan-related costs Points — These are costs you pay up-front to lower your interest rate (optional) Appraisal Costs Property Taxes InsuranceRecording Fees & Transfer Taxes Homeowners Insurance Private Mortgage Insurance (PMI) Title Insurance Flood or Earthquake Insurance if applicable
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