Good Faith Estimate - Sample Form of Closing Costs

Virginia Mortgage Services / Closing Costs / G.F.E. Sample

Virginia Mortgage Services provides this information below as estimates of the charges which you are likely to incur at the settlement of your loan. Although we have made every effort to include all possible fees, the fees listed are estimates -- your actual charges may be more or less. Your transaction may not involve a fee for every item listed. Our position is to err on the side of higher than lower, so there are no surprises at closing.

The only closing costs that your mortgage professional has discretion over are: the application fee; the origination fee; the broker fee; and sometimes, the administration fee. All other closing costs are required by the lender or are unavoidable as a matter of law.

The numbers listed beside the estimates generally correspond to the numbered lines contained in the HUD - 1 or HUD - 1A settlement statement that you will be receiving at settlement. The HUD - 1 or HUD - 1A settlement statement will show you the actual cost for items paid at settlement.

All of the fees above should be disclosed on any GFE you receive, if they are not, ask why and who is going to pay those fees. Just because an estimate was given to you is lower than another, DOES NOT mean your lower estimate is the most accurate nor does it mean its your actual cost. If your closing costs come in higher than our estimates, we pay!

You should not be expected to pay fees which are substantially different from these contained in your GFE

The only closing costs that your mortgage professional has discretion over are: the application fee; the origination fee; the broker fee; and sometimes, the administration fee. All other closing costs are required by the lender or are unavoidable as a matter of law.

Please call Ben Borden directly at 804.379-3302. Or you may contact us at Virginia Mortgage Services via email. We will be happy to go over all closing costs with you item by item.

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