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Example Good Faith Estimate

Example Good Faith Estimate

Please note that the Good Faith Estimate was replaced by the Loan Estimate effective October 3rd, 2015 and is no longer used in the mortgage process. We provide the Good Faith Estimate example below for your reference.


According to federal law, a lender must provide a Good Faith Estimate of the key terms of a mortgage including interest rate and closing costs, at the time the borrower submits a loan application. The Good Faith Estimate is a standard document that is the same across all lenders, enabling the borrower to compare mortgage proposals from various lenders. For the example document below, we show a $380,000 fixed rate mortgage with an interest rate of 4.250% and the borrower pays total lender fees of $1,070.

When reviewing a Good Faith Estimate, the key items to focus on are "Your Adjusted Origination Charges" which are the fees charged by the lender and "Your Charges for All Other Settlement Services" which are the fees charged by non-lender third parties such as the appraiser, title company, escrow company and attorneys (if applicable). Both of these items are found on the bottom of page one and a breakdown of these items is found on page two. The table at the bottom of page three allows you to compare mortgages from multiple lenders, which we highly recommend. Please note that this is an example Good Faith Estimate document that should be used for informational purposes only.

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