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What is a Good Faith Estimate of closing costs (GFE)? |
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Anytime you apply for a mortgage, the Broker or Bank is required to provide you with a GFE. The GFE is an estimate of what all the numbers will look like on the HUD-1 Settlement Statement at closing. When it is time to close your loan, you should compare the GFE to the numbers on the HUD-1 Settlement Statement. Do not sign the loan documents if there are major differences in estimates or there are additional charges that were not disclosed up front on the GFE. We pride ourselves on our accurate estimation of the numbers up front and our honesty when disclsoing those numbers to you.
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