The GFE includes the estimated costs for the mortgage loan. The Good Faith Estimate   provides you with basic information about the loan, which helps you:

• Compare offers
• Understand the real cost of the loan
• Make an informed decision about choosing a loan

The lender must provide you with a GFE within three business days of receiving your application or other required information. You can be charged a credit report fee before receiving a GFE. But, you can’t be charged any other fees until you get the GFE and indicate that you want to proceed with the mortgage loan.

Note: If you applied for a mortgage on or after October 3, 2015, you will receive a form, called the Loan Estimate, instead of a GFE for most kinds of mortgage loans. If you are applying for a HELOC, a manufactured housing loan that is not secured by real estate, or a loan through certain types of homebuyer assistance programs, you will not receive a GFE or a Loan Estimate, but you should receive a Truth-in-Lending disclosure.