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what's so important about a GFE - good faith estimate

By sean cohen

Mortgage and Lending with prosperity mortgage

March 25, 2008 07:03 AM

A GFE is actually the most important document regarding your loan program, rate, points, closing fees and escrows, including tax and insurance estimates for a loan scenario. A GFE is the nuts and bolts of what you need to understand about your loan, and whether or not you are getting the best possible deal. If a loan officer will not provide you with this GFE upon your first request, chances are it's not the best one you will find.

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JDo Doe

Barrington, RI

Good post and you are right on the button. The best way to sniff out a shady LO is to ask for a GFE!!!

Mar 25, 2008 07:22 AM

Tina Merritt

Nest Realty - Blacksburg, VA

Virginia Real Estate

Sean - great post! You are so right....if as a listing agent, I receive a contract asking for "ALL" closing costs, I always call the LO and ask for a GFE. If he/she balks at all, I know it's probably a deal we don't want to mess with.

Tina in Virginia

Mar 25, 2008 09:19 AM

Benjamin Clark

Homebuyer Representation, Inc. - Salt Lake City, UT

Buyer's Agent - Certified Negotiation Expert

Welcome to Active Rain! For some tips on how to get started here, check out my blog entry at ActiveRain Fast-Start Tips for Quick and Easy Points

Happy blogging and good luck!

Mar 25, 2008 06:06 PM

Fred Griffin Florida Real Estate

Fred Griffin Real Estate - Tallahassee, FL

Licensed Florida Real Estate Broker

We invite you back to ActiveRain in 2016!

    Much has changed since your last visit to ActiveRain. I encourage you to take another look at the website.

    Surf some blogs, leave some comments. Better yet, post a Blog.

    Best to you!

Apr 02, 2016 01:36 PM

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