I wish I had this when I bought my home

by Jess
(AK)

I had never even heard of a good faith estimate before this video and I purchased my home in 2007.

When we went to a mortgage office they did explain their costs and fees but to be honest, going from office to office and sitting there for hours was not my idea of fun.

So, basically, we picked the first office that looked good. They were very nice but having a GFE would have been easier and given us more options.

A Good Faith Estimate is an estimated breakdown of costs that a loan company is going to charge you, with a GFE you can go to various company and ask for a GFE from each and then from the comfort of your own home you can decide which company is right for you.

I recommend this video for all first time home buyers. You need to know your rights and be able to understand how much it will cost you to close the loan.