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Mortgages

Can the final loan costs be different from the Good Faith Estimate?

If you obtained your loan after January 1, 2010, the following items listed on the Good Faith Estimate (GFE) CANNOT increase:

  • The “Origination Charge” listed in Block 1
  • If your interest rate is locked, the “Credit or charge (points) for the specific interest rate chosen” in Block 2
  • If your interest rate is locked, your “Adjusted Origination Charges” listed in Box A
  • The Transfer Taxes listed in Block 8

The following items listed on the most recent Good Faith Estimate you received cannot increase in total by more than 10 percent at closing:

  • Services listed in Block 3, which are services for which your lender chooses the provider
  • Title services and lender’s title insurance charges listed in Block 4, if you use a company identified by your lender
  • Owner’s title insurance listed in Block 5, if you use a company identified by your lender
  • Charges listed in Block 6, if you select a company listed for those services in Block 6
  • Government recording charges listed in Block 7

The following items can change:

  • Charges for any services that you obtain from a company not listed by your lender
  • Title services, lender’s title insurance, and owner’s title insurance if you do not select a company identified by your mortgage originator
  • Your initial escrow deposit listed in Block 9
  • Your daily interest charges listed in Block 10
  • Your homeowner’s insurance listed in Block 11

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