1. Good Faith Estimate (GFE) - This will break down all of the closing costs of the loan. These numbers are very difficult to get exact but the loan officer should never be off more than a couple hundred dollars.
2. Truth in Lending Statement (TIL) - This document will disclose several important numbers but most importantly the Annual Percentage Rate, and whether the loan has a prepayment penalty or not.
3. Financing Agreement - This document right here is gold and you should have a financing agreement early on whether the rate is locked or floating. The loan officer should issue this to you not only for your protection, but also for his since it lays out whether the rate is locked or if it is floating, the loan type, rate and any points being charged.
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