For Good Faith Estimate (Gfe) we have terms and definitions in 4 topics. The topics are Home Purchasing, Mortgage, Purchasing A Home and Real Estate.

Good Faith Estimate (Gfe) (Home Purchasing)

An estimate of closing costs provided by the lender to the buyer.

Good Faith Estimate (Gfe) (Mortgage)

An estimate of settlement charges paid by the borrower at closing. The Real Estate Settlement Procedures Act (RESPA) requires a Good Faith Estimate of settlement charges be provided to the borrower.

Good Faith Estimate (Gfe) (Purchasing A Home)

A document which tells borrowers the approximate costs they will pay at or before the settlement, based on common practice in the locality. Under requirements of RESPA, the mortgage banker or mortgage broker, if any, must deliver or mail the GFE to the applicant within three business days after the application is received.

Good Faith Estimate (Gfe) (Real Estate)

A disclosure required under the Real Estate Settlement Procedures Act (RESPA) that must be given to all mortgage loan applicants at application time. The disclosure is an estimate of all settlement charges likely to be incurred at closing.

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