www.2kHomeLoans.com » Home Loan Refinance http://2khomeloans.com Home Loans | Mortgage Rates | Home Buying Sun, 07 Mar 2010 05:40:49 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 Good Faith Estimate http://2khomeloans.com/2010/03/good-faith-estimate/ http://2khomeloans.com/2010/03/good-faith-estimate/#comments Thu, 04 Mar 2010 07:07:52 +0000 homeloanpro http://2khomeloans.com/?p=15 A Good Faith Estimate also known as GFE is the first step in the Refinance process. It is important when shopping for a loan that you obtain solid information regarding your proposed loan amount. On Jan 1, a new law took effect any excess fees must come out of the lender’s own wallet at closing.

Also, be aware when a lender provides you with a work-sheet to explain closing costs and fees it iss not a valid quote. The quote must be printed on a three-page good-faith estimate in order for the quote to be guaranteed. Furthermore, be advised that you’re not bound to any good-faith estimate. As a consumer you should feel free to shop around for a home loan or refinance.

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