Your lender is required by the Federal Real Estate Settlement Procedures Act to provide you with a good-faith estimate of the fees due at closing. This document, called the good-faith estimate, or GFE, is supposed to be provided to you within three days of applying for a loan. The requirement is satisfied if the good-faith estimate is mailed within three days.

Closing fees, also called settlement costs, cover almost every expense associated with your home loan. Because closing costs typically amount to between 3 percent and 5 percent of the sale price, it is best to wait until you receive the good-faith estimate before committing to a loan. Smart shoppers obtain good-faith estimates from two or more lenders, compare their costs and ask questions about any large discrepancies.

Here's a list of some of the fees you'll find listed on your GFE:

I stand behind the accuracy of our GFE's. We NEVER add or slip in undisclosed fees or charges to your closing costs. Please contact me with any questions regarding your GFE at anytime! Click here to see what a blank GFE looks like.