Friday, June 3, 2011

Is there a tool to compare home loan GFE's ? | Best Finances

A Good Faith Estimate (GFE)is good for determining the cost of a mortgage loan that you might be getting. Still you will not be able to determine the true savings of one mortgage lender against another with the GFE.

You should ask the mortgage brokers/lenders you are dealing with for a Truth In Lending (TIL) this will give you the Annual Percentage Rate (APR) the higher the APR the more the loan is costing you or the higher the rate. This is a better way to determine cost and compare your mortgage broker mortgage offerings.

I hope this has been of some use to you, good luck.

?FIGHT ON?

Source: http://bestfinancesolutions.com/credit/loans-credit/is-there-a-tool-to-compare-home-loan-gfes/

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