Get the free Revised Good Faith Estimate

Request for Issuance of Revised Good Faith Estimate Broker Name: AE: Borrower (s) Name (s): Property Address: Loan Number: (Check applicable boxes below.) The undersigned, has received a request from

How to fill out revised good faith estimate

How to fill out revised good faith estimate:

1. Start by entering the date of the revised estimate at the top of the form.
2. Provide the name and contact information of the lender or mortgage broker.
3. Include the name, address, and phone number of the borrower(s).
4. Enter the property address for which the estimate is being provided.
5. Specify the date when the estimate expires.
6. Provide a summary of the loan terms, including the loan amount, interest rate, and loan term.
7. Break down the estimated monthly mortgage payment, including principal, interest, taxes, and insurance.
8. Include any additional costs or fees associated with the loan, such as origination fees, appraisal fees, or credit report fees.
9. Disclose any estimated amounts for prepaid expenses, such as homeowners insurance, property taxes, or initial escrow deposits.
10. Summarize the total estimated cash-to-close, which includes the down payment, closing costs, and any prepaid expenses.
11. Include any information regarding adjustable-rate features or prepayment penalties, if applicable.
12. Provide a breakdown of the estimated costs for other services, such as title insurance, pest inspection, or survey fees.
13. Include any additional information or disclosures required by the relevant laws or regulations, such as the Mortgage Servicing Disclosure Statement or the Home Ownership and Equity Protection Act (HOEPA) disclosures.

Who needs a revised good faith estimate:

1. Homebuyers or borrowers who are applying for a mortgage loan.
2. Individuals looking to compare loan offers from different lenders.
3. Real estate agents or brokers assisting clients with mortgage financing options.
4. Professionals involved in the loan approval process, such as underwriters or loan processors.
5. Government agencies or regulatory bodies overseeing mortgage lending practices.

Remember, it is important to carefully review and understand the revised good faith estimate before proceeding with a mortgage loan application or making any financial decisions. It is always advisable to consult with a qualified professional for personalized advice and guidance regarding specific loan requirements and obligations.

For pdfFiller’s FAQs

What is revised good faith estimate?

The revised good faith estimate is a document that outlines the estimated costs associated with a mortgage loan.

Who is required to file revised good faith estimate?

Lenders are required to file the revised good faith estimate.

How to fill out revised good faith estimate?

To fill out the revised good faith estimate, lenders must provide accurate and updated information on the estimated costs of the mortgage loan.

What is the purpose of revised good faith estimate?

The purpose of the revised good faith estimate is to ensure transparency in the lending process by providing borrowers with accurate information about the costs associated with their mortgage loan.

What information must be reported on revised good faith estimate?

The revised good faith estimate must include information on the loan amount, interest rate, closing costs, and other fees associated with the mortgage.

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