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Old 07-28-2008, 01:46 PM
 
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Ok - I've received a few GFE's this weekend and I've been comparing them and doing my homework. It seems like a foreign language to me. But I see on the HUD website a GFE that would be great to get lenders to use. (Well, great for me - not so great for the lenders). Is this something I can get the lenders I'm dealing with to fill out?

And can someone give me advice on the fees/charges in my GFE to watch out for and ones that are negotiable? Corisponding line numbers for reference would be great.

Thanks so much!
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Old 07-28-2008, 01:50 PM
 
Location: Charlotte, North Carolina
5,137 posts, read 15,093,116 times
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These are the items you should look at

1. Interest Rate
2. Lender fees on Good Faith (800 lines)
3. APR

Never compare 3rd party fees only the lender fees.
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Old 07-28-2008, 03:26 PM
 
Location: Cary, NC
1,036 posts, read 3,627,137 times
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Did you get a Truth in Lending with your GFE? The APR will be there which is the best way to compare apples-to-apples. It can be manipulated as well (or done incorrectly) but it shows you the actual cost of financing as a %.
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