Good Faith Estimate Gfe

OMB Approval No. 2502-0265

Good Faith Estimate (GFE)
Name of Originator Originator Address Originator Phone Number Originator Email Date of GFE Borrower Property Address

Purpose

This GFE gives you an estimate of your settlement charges and loan terms if you are approved for this loan. For more information, see HUD’s Special Information Booklet on settlement charges, yourTruth-in-Lending Disclosures, and other consumer information at www.hud.gov/respa. If you decide you would like to proceed with this loan, contact us. Only you can shop for the best loan for you. Compare this GFE with other loan offers, so you can find the best loan. Use the shopping chart on page 3 to compare all the offers you receive. 1. The interest rate for this GFE is available through . After this time,the interest rate, some of your loan Origination Charges, and the monthly payment shown below can change until you lock your interest rate. 2. This estimate for all other settlement charges is available through 3. After you lock your interest rate, you must go to settlement within to receive the locked interest rate. 4. You must lock the interest rate at least days before settlement. . days (yourrate lock period)

Shopping for your loan Important dates

Summary of your loan

Your initial loan amount is Your loan term is Your initial interest rate is Your initial monthly amount owed for principal, interest, and any mortgage insurance is Can your interest rate rise? Even if you make payments on time, can your loan balance rise? Even if you make payments on time, can your monthly amountowed for principal, interest, and any mortgage insurance rise? Does your loan have a prepayment penalty? Does your loan have a balloon payment?

$ years % $ per month %. .

c No c Yes, it can rise to a maximum of The first change will be in c No c Yes, it can rise to a maximum of $ c No c Yes, the first increase can be in and the monthly amount owed can rise to $ . The maximum it can everrise to is $ . c No c Yes, your maximum prepayment penalty is $

.

c No c Yes, you have a balloon payment of $ due in years.

Escrow account information

Some lenders require an escrow account to hold funds for paying property taxes or other propertyrelated charges in addition to your monthly amount owed of $ . Do we require you to have an escrow account for your loan? c No, you do not havean escrow account. You must pay these charges directly when due. c Yes, you have an escrow account. It may or may not cover all of these charges. Ask us.

Summary of your settlement charges

A Your Adjusted Origination Charges (See page 2.) B Your Charges for All Other Settlement Services (See page 2.) A + B Total Estimated Settlement Charges

$ $

$
Good Faith Estimate (HUD-GFE) 1Understanding your estimated settlement charges

Your Adjusted Origination Charges
1. Our origination charge This charge is for getting this loan for you. 2. Your credit or charge (points) for the specific interest rate chosen c The credit or charge for the interest rate of % is included in “Our origination charge.” (See item 1 above.) c You receive a credit of $ for this interest rate of %. Thiscredit reduces your settlement charges. c You pay a charge of $ for this interest rate of %. This charge (points) increases your total settlement charges. The tradeoff table on page 3 shows that you can change your total settlement charges by choosing a different interest rate for this loan.

A
Some of these charges can change at settlement. See the top of page 3 for more information.

YourAdjusted Origination Charges

$

Your Charges for All Other Settlement Services
3. Required services that we select These charges are for services we require to complete your settlement. We will choose the providers of these services. Service Charge

4. Title services and lender’s title insurance This charge includes the services of a title or settlement agent, for example, and title...