Good Faith Estimate Form - California (Korean)

This is a legal document that was released by the California Department of Financial Protection and Innovation - a government authority operating within California.

The document is provided in Korean.

FAQ

Q: What is a Good Faith Estimate Form?A: A Good Faith Estimate Form is a document provided by a lender to a borrower that outlines the estimated costs associated with a mortgage loan.

Q: What information does a Good Faith Estimate Form include?A: A Good Faith Estimate Form includes information such as the loan amount, interest rate, closing costs, and other fees associated with the mortgage loan.

Q: Who provides the Good Faith Estimate Form?A: The lender providing the mortgage loan is responsible for providing the Good Faith Estimate Form to the borrower.

Q: Why is a Good Faith Estimate Form important?A: A Good Faith Estimate Form is important because it helps borrowers understand the costs and fees associated with a mortgage loan, enabling them to compare different loan offers and make an informed decision.

Q: Is the Good Faith Estimate Form legally binding?A: No, the Good Faith Estimate Form is not legally binding. It is an estimate of the costs associated with a mortgage loan and may change before the loan is finalized.

Q: Do I have to pay any fees for receiving a Good Faith Estimate Form?A: No, lenders are not allowed to charge any fees for providing a Good Faith Estimate Form to borrowers.

Q: Can I negotiate the fees listed on the Good Faith Estimate Form?A: Yes, borrowers can negotiate some of the fees listed on the Good Faith Estimate Form with the lender to potentially lower the overall cost of the mortgage loan.