What Is A Good Faith Estimate?

... evaluate a Good Faith Estimate or GFE. A good faith estimate is not just a verbal quote of how much you are going to pay but it is actually a document required by the Real Estate Settlement Procedures Act (RESPA). ... Now there is a difference between a lender's worksheet and a GFE. Some lenders will give you a workup of the approximate costs on a worksheet. This is not a Good Faith Estimate, so don't make a decision on which lender until you have seen the actual GFE. ...

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