Shopping for Your Loan (Closed Caption)

Once you've found the home of your dreams, the next step is to shop for a mortgage loan. This video will help consumers use the good faith estimate (GFE), which is a form that spells out the terms of a loan offer, to shop for the best loan for them. Consumers will learn how to use the GFE to determine how long an interest rate is available for a particular loan and how to identify key loan terms and costs of a particular loan offer. HUD suggests consumers shop and compare GFEs from multiple mortgage brokers and/or lenders in order to get the best loan for their situation.

Category:

Education

Tags:

• HUD
• Good Faith Estimate
• GFE
• settlement
• loan
• consumers
• homebuying
• home
• mortgage brokers
• RESPA
• FHA
• Federal Housing Administration