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jaysee00
LIF Adult
Member since 3/06 1647 total posts
Name:
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Good Faith Estimate
I was just wondering how accurate good faith estimates are when it comes to closing time. I am a little nervous about this. I really don't want any big surprises at closing. I know there are other things to consider as well. Like taxes due, lawyer fee, etc. Our mortgage person is going to go over the estimate with us this week. Thanks in advance!!
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Posted 4/10/06 8:00 PM  |
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Prudential Douglas Elliman Real Estate
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Redhead
You Live, You Learn
Member since 5/05 31871 total posts
Name:
Jennifer
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Re: Good Faith Estimate
mine was very close to actual
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| Posted 4/10/06 8:04 PM |
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dandr10199
Grace is growing up too fast!
Member since 10/05 11561 total posts
Name:
Dina
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Re: Good Faith Estimate
Posted by Redhead
mine was very close to actual
so was mine
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| Posted 4/10/06 8:08 PM |
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jaysee00
LIF Adult
Member since 3/06 1647 total posts
Name:
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Re: Good Faith Estimate
Thanks. 
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| Posted 4/10/06 8:17 PM |
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DjPiLL
Member since 5/05 3664 total posts
Name:
Richard
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Re: Good Faith Estimate
Very close. The only thing that will definitely change is the interest paid (depending on the day of the month you close).
Also... if you plan on escrowing your taxes... make sure you tell them to include this in your GFE! If you planned on doing this... sometimes they won't put it on the GFE.
Then come closing it comes out to be a lot more than the GFE said.
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| Posted 4/10/06 10:32 PM |
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dengal
Dad of Twins
Member since 5/05 1385 total posts
Name:
The 80's Man
Let's Go Mets!
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Re: Good Faith Estimate
Ours was very close. That's why they tell you to bring a check book, just in case there are small adjustments.
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| Posted 4/11/06 8:49 AM |
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lululu
LIF Adult
Member since 7/05 9511 total posts
Name:
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Re: Good Faith Estimate
Ours was extremely close also.... I was surprised by this. I think it is because we dealt directly with Wells Fargo rather than a Mortgage Broker.
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| Posted 4/11/06 8:53 AM |
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Diana1215
Living on a prayer!!!
Member since 10/05 29450 total posts
Name:
Diana
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Re: Good Faith Estimate
Very close!!!
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| Posted 4/11/06 9:20 AM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: Good Faith Estimate
Close but I still got money back at closing.
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| Posted 4/11/06 9:31 AM |
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BabyAvocado
Happy New Year
Member since 5/05 17334 total posts
Name:
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Re: Good Faith Estimate
Don't know what everyone considers close but ours was off by $2500...I didn't consider that close.
But they probably did not account for the tax escrow that Pill mentioned, I don't remember.
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| Posted 4/11/06 2:55 PM |
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Laura1976
Member since 5/05 5754 total posts
Name:
Laura
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Re: Good Faith Estimate
mine was way over, we got over 4,000 back at the closing, needles to say DH and I were thrilled!!!
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| Posted 4/11/06 3:57 PM |
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jaysee00
LIF Adult
Member since 3/06 1647 total posts
Name:
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Re: Good Faith Estimate
Posted by DjPiLL
Very close. The only thing that will definitely change is the interest paid (depending on the day of the month you close).
Also... if you plan on escrowing your taxes... make sure you tell them to include this in your GFE! If you planned on doing this... sometimes they won't put it on the GFE.
Then come closing it comes out to be a lot more than the GFE said.
Thank you for posting this! I called and double checked this with my mortgage person. She said she included it.
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| Posted 4/11/06 6:17 PM |
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