GFE And Closing Costs

It usually comes about 24 hours before closing. We have a very good mortgage broker that we've used for 4 closings, and his estimates have always been within a few hundred dollars of the actual settlement charges.

There is a chance that even after you receive the settlement charges, during the actual closing the numbers might change a little bit. Typically your lawyer will advise you to have the cashier's check made out for a bit higher than the settlement fees, and then the title company will cut you a check for any excess on the day of closing.

Congrats on the new home!

the lender/settlement attorney

The differences tend to be in things like escrow and interest in the payoff. If this is your first home you wouldn't have the interest to deal with so it would be in the escrow which is based on insurance costs and taxes.

You usually have something really close 24 hours before. Your mortgage broker should give it to you. Get a cashier's check for that amount. But also bring your checkbook to the closing. There can be slight changes even at closing as you go through the paperwork, and most brokers will accept a personal check for less than $50 for changes that come up at closing.

It should be within a few hundred dollars.

I am also in the process of purchasing a house. They usually give you the amount within a couple days of closing. I would do a wire transfer and not a cashier’s check, I find it much easier.