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A Good Faith Estimate is like a tape measureThe process of buying real estate is a financial decision that can influence the rest of someone’s life. It’s a big deal, and although there are mechanisms in place to assist people throughout the journey, there are many tough decisions that lead up to a closing date.

One specific way that prospective home buyers are aided is through good faith estimates (GFEs). Established by the Real Estate Settlement Procedures Act (RESPA), good faith estimates are in place to help people acquire and utilize the most efficient loan for their particular situation. This is critically important, as the scale of money involved with a real estate transaction is often overwhelming for those signing on the dotted line. When dealing with finances on this level, buyers want…

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