Written estimate of the settlement costs the borrower will likely have to pay at closing.
A form required by the Real Estate Settlement Procedures Act (RESPA) and the U.S. Department of Housing and Urban Development (HUD) that discloses an estimate of the charges the consumer is likely to pay in connection with the transaction. The disclosure has estimated costs that may be different from the actual costs due at closing/settlement. The Good Faith Estimate also identifies the relationship that the lender may have with certain vendors that will provide settlement services for which the consumer will be required to pay.
A formal estimate of the fees and charges that the borrower must pay at the closing. Lenders are required to provide a Good-Faith Estimate at the time the commitment is issued.
The good-faith estimate is a report from the lender that states the costs you will incur to obtain a mortgage. It is based on the lender's typical loan origination costs for the area where your home is located. The estimate usually changes between application and closing.
An estimate from an institutional lender that shows all the costs the borrower will potentially incur including all the costs of the loan, attorneys fees, title fees, miscellaneous fees, escrow amounts, etc. This should show the actual amount, including your intended down payment that you must be able to produce at closing. Good way to shop around for loans is to get several from lenders and do apples to apples comparisons.
An estimate from a lender showing all costs a borrower will incur in connection with the loan, including costs from title and escrow.
A written statement itemizing the approximate costs and fees for the mortgage.
A detailed estimate from a lender of total closing costs.
A preliminary accounting of expected closing costs. The Real Estate Settlement Procedures Act (RESPA) requires the lender to promptly give loan applicants a good-faith estimate of closing costs. (See Real Estate Settlement Procedures Act (RESPA))
An itemization of the estimated loan closing costs. Lenders or brokers must provide this list to the loan applicant for a mortgage loan within three business days after receipt of the application. The GFE is intended to assure that consumers have adequate information about closing costs early in the process.
An estimate from an institutional lender that shows the costs a borrower will incur, including loan-processing charges and inspection fees.
A line item estimate from a lender of total closing costs.
An estimate of closing costs associated with the purchase of your home.
An estimate of the buyer's closing costs.