Good Faith Estimates - Knowing & Understanding the Power of the paper!!!
By Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
( Social Media - Infinity Home Mortgage Company, Inc)
Good Faith Estimates - Extremely important message below!!! If you are a consumer looking to purchase or refinance, this is a must read. It could cost you thousands if you don't pay attention. This is not a threat, but a warning from someone that has over 16 years of experience in the mortgage industry. When shopping for a mortgage, even if shopping with more than 2 lenders, you want to get a good faith estimate from everyone that you speak to. So, here is my pet peeve. This is a major red flag - if you speak to a loan officer, on the phone or in person, and they didn't offer you a good faith estimate, don't walk, Run!!! The Good Faith Estimate is an over abused term and can be misleading. If the loan officer qualifies you for a mortgage, no matter if its a FHA loan or a co...