A Good Faith Estimate is a lenders proposal as to what your closing costs and loan fees will be associated with your real estate financing request.
A lender is required by the federal Real Estate Settlement Procedures Act (RESPA) to provide a prospective home buyer with a good faith estimate of the fees due at closing within three days of applying for a loan. These mortgage fees, also called settlement costs, cover every expense associated with your home loan, inspections, title insurance, taxes and other charges. An accurate Good Faith Estimate is essential for a prospective home buyer to make a informed decision about the exact settlement costs. Good Faith Estimate Software automates preparation and printing of the Good Faith Estimate. The program displays the entire form on the screen in a scrollable format. Information is entered from your keyboard as it would be typed on the form itself. All calculations are updated instantly as the data is entered. We do the math! You can override any calculated result to produce the final output you need. The Good Faith Estimate prints the complete form on letter or legal size paper with any Windows supported printer. Print preview is built-in. Data entered may be stored anywhere on your hard drive, to a shared network drive, or to external diskettes as a .GFE file for quick retrieval. Visit us on the web at www.lawfirmsoftware.com for more information. See also: good faith, good faith estimate, good faith pdf, good faith online
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