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Home Purchase > Good Faith Estimate (Gfe)

The following information is about Good Faith Estimate (Gfe).

Good Faith Estimate (Gfe) Defined

A document which tells borrowers the approximate costs they will pay at or before the settlement, based on common practice in the locality. Under requirements of RESPA, the mortgage banker or mortgage broker, if any, must deliver or mail the GFE to the applicant within three business days after the application is received.

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