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Good Faith Estimates Explained
I am a Fishers and surrounding areas Real Estate Agent and as January 2009 is underway, I am seeing the market begin to change.  In the last seven days, I have received a dozen calls about either buying or selling real estate.  Most of them have been from buyers!  This is a good sign for our housing market in Fishers Indiana.  I'm so glad I took the time to relax and enjoy my family and the holidays during December, because it looks like busy is back.
I met with a first time home buyer on Wednesday evening.  I love going over the home buying process with a first time home buyer.  There are so many things to know when you initially start that search for a home.  One of the first things a buyer needs to do is call a lender and start the mortgage process.  One of the first things to ask for is a Good Faith Estimate.  This document is an estimate of the closing costs that a buyer will be charged when purchasing their home.  This estimate must be provided within three days of making an application with a lender, but often a lender will provide it if you just ... more

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