LowerFees, Inc. launched last week in Westlake Village.

The new online company provides information about the documents and fees associated with real estate transactions.

“Consumers were charged more than $50 billion in real estate closing costs last year,” said Michael Kratzer, LowerFees, Inc. president. “Our site compares fees from a variety of local vendors, empowering consumers to make smarter real estate decisions.”

Using the company’s database, users can input their property type, estimated property value and loan amount and other occupancy information and find the lowest closing costs for their transaction.

Consumers also receive a detailed explanation of each fee and whether that fee is common or not.

“In many cases, first-time home buyers, women, minorities and credit-challenged individuals are at risk for discrimination by being charged for higher closing fees,” said Mark Zimmerman, LowerFees chief executive

The LowerFees website provides free tools so anyone can access vendor fees, Zimmerman said. Visit the website at www.lowerfees.com.