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  4. Watch-It Wednesday: What is a Good Faith Estimate?
Good Faith Estimates are something every borrower will see at some point in the application process.  What is a good faith estimate?  Kelly LaVaute is here to explain:

Our Watch-It Wednesdays are intended to answer questions from YOU! Got a burning mortgage question that you need to have answered by an expert? Send it to us at content@quickenloans.com.

Can’t see the embedded video? Watch our  Good Faith Estimate video here.

Video Transcription:

Hi, I’m Kelly LaVaute from Quicken Loans and I’m here to tell you about the good faith estimate. Your good faith estimate is the written estimate of all the settlement costs you will likely have to pay at closing. These settlement costs in your good faith estimate cover every expense associated with your loan including: inspections, title insurance, taxes and more. Additional costs may apply depending on your state, the loan you choose and the amount of your down payment. If you’re shopping for a lender, use the good faith estimate to compare costs, apples to apples.

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