Josh answers the question many doctors ask: “What is included in a Good Faith Estimate and what is not included?”
A Good Faith Estimate (GFE) is a guarantee of lender fees. Due to recently enacted mortgage laws NONE of the lenders fees can change from the time the GFE is issued and closing.
However, the GFE does leave out the monthly payment with taxes and insurance, the cash to close or any credit for seller paid closing costs, and does not list cash deposits made when writing the offer (called earnest money or EM).
We prefer to explain all the details of the transaction and EXACTLY what our clients can expect the day of closing with a Fee Worksheet. This is a standard form any lender can provide you with, so be sure to ask your lender for it.
Please reach out to Josh Mettle at (855) 260-9932, write to us at [email] or by clicking the chat button above. We’re happy to answer any questions you have.
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