Mortgage Blog

GFE for purchase

August 6th, 2009 11:40 AM by Eric Fang

I got lots of phone calls recently about the GFE. Here is
more explanation.

On 2nd page of the contract, under 4 D)Escrow and Title,
it specify who is going to pay those owner's title insurance
and escrow fees. We could not get an accurate GFE without
the contract(or we assume it's a standard contract)

My job is to let my borrower to understand not only the
rates but also the closing fees. There were cases before
that some agent under-estimate the closing cost so they
can quote lower rate (no cost loans) at the beginning and
then they told the borrower that they have to increase
the rate because the higher fees.

Please click here for the estimated closing cost(purchase) for each

Posted in:General
Posted by Eric Fang on August 6th, 2009 11:40 AM



My Favorite Blogs:

Sites That Link to This Blog: