Good Faith Estimate (Gfe) - Oak Tree Funding Page 3
ADVERTISEMENT
1
2
3Instructions
Understanding
This GFE estimates your settlement charges. At your settlement, you will receive a HUD-1, a form that lists your actual costs.
Compare the charges on the HUD-1 with the charges on this GFE. Charges can change if you select your own provider
which charges
and do not use the companies we identify. (See below for details.)
can change at
These charges
The total of these charges
These charges
settlement
cannot increase
can increase up to 10%
can change
at settlement:
at settlement:
at settlement:
• Our origination charge
• Required services that we select
• Required services that you can shop
for
(if you do not use companies we
• Your credit or charge (points) for the
• Title services and lender’s title
identify)
specific interest rate chosen
(after
insurance
(if we select them or
you lock in your interest rate)
you use companies we identify)
• Title services and lender’s title
insurance
(if you do not use
• Your adjusted origination charges
• Owner’s title insurance
(if you use
companies we identify)
(after you lock in your interest rate)
companies we identify)
• Owner’s title insurance
(if you do not
• Transfer taxes
• Required services that you can
use companies we identify)
shop for
(if you use companies we
identify)
• Initial deposit for your escrow account
• Government recording charges
• Daily interest charges
• Homeowner’s insurance
Using the
In this GFE, we offered you this loan with a particular interest rate and estimated settlement charges. However:
tradeoff table
• If you want to choose this same loan with
lower settlement charges
, then you will have a
higher interest rate.
• If you want to choose this same loan with a
lower interest rate
, then you will have
higher settlement charges.
If you would like to choose an available option, you must ask us for a new GFE.
Loan originators have the option to complete this table. Please ask for additional information if the table is not completed.
The same loan with
The same loan with a
The loan in this GFE
lower settlement charges
lower interest rate
Your initial loan amount
$
$
$
1
Your initial interest rate
%
%
%
Your initial monthly amount owed
$
$
$
Change in the monthly amount owed
No change
You will pay $
You will pay $
from this GFE
more
every month
less
every month
Change in the amount you will pay at
No change
Your settlement charges
Your settlement
settlement with this interest rate
will be
reduced
by
charges will
increase
by
$
$
How much your total estimated
settlement charges will be
$
$
$
1
For an adjustable rate loan, the comparisons above are for the initial interest rate before adjustments are made.
Using the
Use this chart to compare GFEs from different loan originators. Fill in the information by using a different column for each GFE you
receive. By comparing loan offers, you can shop for the best loan.
shopping chart
This loan
Loan 2
Loan 3
Loan 4
Loan originator name
Initial loan amount
Loan term
Initial interest rate
Initial monthly amount owed
Rate lock period
Can interest rate rise?
Can loan balance rise?
Can monthly amount owed rise?
Prepayment penalty?
Balloon payment?
Total Estimated Settlement Charges
If your loan is
Some lenders may sell your loan after settlement. Any fees lenders receive in the future cannot change the loan you receive or the
charges you paid at settlement.
sold in the future
Good Faith Estimate (HUD-GFE) 3
Calyx Form - GFE2010_3.frm (12/09)
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Legal