Good Faith Estimate (Gfe) - Oak Tree Funding Page 2
ADVERTISEMENT
1
2
3Understanding
Your Adjusted Origination Charges
your estimated
1. Our origination charge
settlement charges
This charge is for getting this loan for you.
2. Your credit or charge (points) for the specific interest rate chosen
The credit or charge for the interest rate of
% is included in
"Our origination charge." (See item 1 above.)
You receive a credit of $
for this interest rate of
%.
reduces
This credit
your settlement charges.
You pay a charge of $
for this interest rate of
%.
increases
This charge (points)
your total settlement charges.
The tradeoff table on page 3 shows that you can change your total settlement charges
by choosing a different interest rate for this loan.
A
Your Adjusted Origination Charges
$
Your Charges for All Other Settlement Services
Some of these charges
3. Required services that we select
can change at settlement.
These charges are for services we require to complete your settlement.
We will choose the providers of these services.
See the top of page 3 for
Service
Charge
more information.
4. Title services and lender’s title insurance
This charge includes the services of a title or settlement agent, for example,
and title insurance to protect the lender, if required.
5. Owner’s title insurance
You may purchase an owner’s title insurance policy to protect your interest in the property.
6. Required services that you can shop for
These charges are for other services that are required to complete your settlement.
We can identify providers of these services or you can shop for them yourself.
Our estimates for providing these services are below.
Service
Charge
7. Government recording charges
These charges are for state and local fees to record your loan and title documents.
8. Transfer taxes
These charges are for state and local fees on mortgages and home sales.
9. Initial deposit for your escrow account
This charge is held in an escrow account to pay future recurring charges
on your property and includes
all property taxes,
all insurance,
and
other
.
10. Daily interest charges
This charge is for the daily interest on your loan from the day of your settlement until the first
day of the next month or the first day of your normal mortgage payment cycle. This amount is
$
per day for
days (if your settlement is
).
11. Homeowner’s insurance
This charge is for the insurance you must buy for the property to protect from a loss,
such as fire.
Policy
Charge
B
Your Charges for All Other Settlement Services
$
A
+
B
Total Estimated Settlement Charges
$
Good Faith Estimate (HUD-GFE) 2
Calyx Form - GFE2010_2.frm (12/09)
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Legal