Mortgage Refinancing - Comparison Shopping With the Good Faith Estimate

Home Loans

Mortgage Refinancing - Comparison Shopping With the Good Faith Estimate
(presented by www.refinance-refinance.net - mortgage lenders)

By Louie Latour

If you are in the market for a new mortgage loan, careful comparison shopping can save you thousands of dollars if you go about it correctly. Many financial advisors will tell you to use the Annual Percentage Rate, or APR when comparison shopping; however, the APR simply does not give you enough information to make an informed decision as to which loan is best. Here are several tips to help you comparison shop using the Good Faith Estimate.

The Good Faith Estimate is a government regulated document that outlines estimated costs for the mortgage refinancing offers you consider. All of the expenses found on your mortgage refinancing Good Faith Estimate outline the anticipated origination fees, points, escrow fees, appraisal fees, title fees and insurance expenses for your loan. Mortgage lenders are required to provide you the good Faith Estimate along with a Truth in Lending statement within three days of receipt of your application for mortgage refinancing; however this doesn

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This entry was posted on Tuesday, January 9th, 2007 at 3:27 am and is filed under Refinance. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.

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