GFEs, or Good Faith Estimates, are received by those comparing mortgage rates in Randolph County NC. But GFEs could be overlooked by most since it’s full of the type of fine print that we don’t usually spend time reading. But not paying close attention to the fine print can cost us. On the other hand, GFEs well understood could actually help cut our costs.
To obtain a GFE, all you need to do is provide some standard details required by the lender. Once the lender receives this, you will get your GFE within 3 days.
The fine details in the GFE makes them helpful in comparing what each lender’s mortgage costs would be and the potential discrepancies.
Some costs are the same with every lender, such as taxes and government fees, but most will be different. You should know any third party fees you will incur, the lender’s loan charges, and other costs associated with the loan. These comparisons will be able to help you look beyond mortgage rates and compare which lender is offering the best deal
Another great thing about GFEs is that it doesn’t cost too much. Your prospective lender may just ask you to cover the cost of your credit check, at the most.
Right now, mortgage rates are at an all-time low, which means now is the best time to buy or sell your Randolph County NC home. Contact me for an up-to-date market assessment to help you position yourself in the market.