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Are all possible charges suppose to be listed on the GFE? Such as the survey?

by sjones2256 from , Texas. Jun 24th 2015 Reply


Korene Clopine-Seaman (korene)
#70 ranked lender in Arizona - 83 contributions

No, not all possible charges but all normal, ordinary, required by the contract, type of property, and from the normal reviews and inspections.Is a survey required? Depends on the area, any disputes, and or any questions that may effect the title.

Jun 24th 2015
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William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,795 contributions

A GFE is an estimate of charges that are "Required" to complete the transaction . if the lender requires a survey, then it should be listed, but not every lender requires one.. The same applies to home inspections.. you can do one, and you will pay for it, but it's not "Required" as part of the transaction, so it's typically not listed on the GFE.. Also understand that 3rd party charges (excluding title fees) are not subject to any tolerance rules.. meaning if they say a septic inspection is $100 and it turns out to be $400, then there is no recourse.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Jun 24th 2015
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Derick Condron (rightstartoregon)
#33 ranked lender in Oregon - 597 contributions

No. There are some fees that are not included in the GFE that are part of the transaction

Jun 24th 2015
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,439 contributions

When a lender takes your application, assuming the application meets the minimum requirements for a lender to send a Good Faith Estimate, the estimate will only include all normal or anticipated charges. It will NOT include anything the lender does not know or expect for your transaction. If something not know today changes, the lender will send a new estimate. The most common one I see is an appraiser re-inspection fee being added when after the initial appraisal, the appraiser needs to go back to verify a repair was completed. On a side note, the GOOD Faith Estimate (GFE) is going away on Oct 3, 2015 - to be replaced with a new (but similar) document known simply as the LOAN ESTIMATE (LE). For loan in Minnesota, Wisconsin, or South Dakota, visiti me at www.StPaul-Mortgage.com

Jun 25th 2015
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Sean Young (SeanYoung)
#2 ranked lender in Colorado - 1,106 contributions

The answer is no.

Jun 28th 2015
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