Looking forward to buying. I'm shopping for loans and not getting the info I need. They are sending the "Good Faith Estimate (GFE). But, this doesn't tell me how much money I need to bring to closing. What should I ask for?
An estimate of the fees due at closing for a mortgage loan that must be provided by a lender to a borrower within three days of the lender taking a borrower's loan application. A good faith estimate is required by the Real Estate Settlement Procedures Act (RESPA). While the form of the estimate is standardized across the industry to allow borrowers to compare costs between lenders, it is key to note that it is only an estimate, and the true figure can sometimes be different.