Helping provide our customers with answers to their most common questions and concerns. |
The Cost of Your Loan
Your loan transaction will involve a variety of different fees and charges. Some of these are charged by the lender, some are charged by your broker, and some are charged by third parties such as closing agents, title companies, insurers, appraisers, home inspection services, etc. Your Good Faith Estimate is an estimate of these fees and charges. At or before closing, you will receive a final statement showing the actual fees and charges of your transaction. The amount of any particular fee or charge can vary depending on many factors, such as the lender’s or your broker’s out-of-pocket costs and internal administrative expenses, competitive factors, industry standards and practices, and third party charges. The costs of your transaction may also vary depending on the loan program you select with your broker, and any changes you decide upon during the loan process. Do not hesitate to ask your broker if you have any questions about any specific fees or charges.
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