The Good Faith Estimate or GFE is an estimate of all the costs involved in purchasing or refinancing your property. Some items may vary depending on the title company your loan is closing at, the date it is closing, the size & type of property and other facts that are not known at this time. This list should help explain the items listed line by line on the GFE you received.

ITEMS IN TOP ROW
Total Loan Amount	This is the total loan amount including any MIP on FHA loans, or any VA Funding Fee on VA loans, that is being financed in with the base loan amount.
Interest Rate	This is the actual interest rate of your loan expressed in decimals. 0.125=1/8, 0.25=1/4, 0.375=3/8, 0.5=1/2, 0.625=5/8, 0.75=3/4, 0.875=7/8.
Loan Term	The term is the length of the mortgage loan in months. 120=10 yrs, 180=15 yrs, 240=20 yrs, 300=25 yrs & 360=30 yrs
800 - ITEMS PAYABLE IN CONNECTION WITH LOAN:
801	Loan Origination Fee - Expressed in points of the loan amount, this fee is paid to Texas One for originating the loan.
802	Loan Discount - Expressed in points of the loan amount, this fee may be paid to the investor. Used to buy down a lower interest rate or as an adjustment for lower loan amounts.
803	Appraisal Fee - This fee is paid to a Residential Appraiser who determines the value of the property you are buying or refinancing.
804	Credit Report - This fee is paid to a Credit Agency for providing a credit report on the borrower(s).
805	Lender's Inspection Fee - Usually this fee only applies to new construction(homes being built). It may also be charged if the Appraisal report requires repairs to an existing home.
808	Mortgage Broker Fee - This space is used for additional fees paid to Texas One. Usually to offset lower loan amounts.
809	Tax Related Service Fee - This is an investor fee usually paid to a third party company that monitors the payment of taxes on the property.
810	Processing Fee - Paid to Texas One Mortgage for preparing the loan file for underwriting.
811	Underwriting Fee - This is an investor fee for underwriting(determining the approval) of the loan.
812a	Wire Transfer - Not usually used, but is a charge by the investor for wiring funds.
813	Flood Certification - A certificate from a third party company that determines and monitors whether the property is in a flood zone or not.
814	Doc Prep/Attorney Fee - A fee charged in Texas for an attorney to prepare and/or review the closing papers that will be sent to the title company for your closing..
815	Employment Verification - Many companies require us to use The Work Number, a third party company, to verify your employment history and/or income. This is the cost to verify both borrowers employment.
816-820	Other Fees - Lists any other fees that different lenders might charge.
COMPENSATION TO BROKER (Not Paid Out of Loan Proceeds):
Compensation to Broker	Anticipated Mtg Broker Compensation - The percentage and amount listed here is NOT PART OF THE CLOSING COSTS YOU ARE PAYING. This amount is paid to Texas One Mtg. by the lender. This amount is usually used to lower the origination fee paid to Texas One by the borrower. Any amount left over after paying the origination fee is credited to the borrowers closing cost and/or prepaids.
1100 - TITLE CHARGES:
1101	Closing or Escrow Fee - Paid to the Title Company for closing your loan. This fee is estimated and can vary from title company to title company.
1106	Notary Fee - Not usually used.
1107	Attorney Fees - Paid to an attorney used by the title company.
1108	Title Insurance (Lender's) - Paid to the Title Company for the Lender's title insurance. On a purchase this fee is normally $100 plus endorsements and deletions. The Owner's Title Policy is normally paid by the seller and is approximately 1% of the sales price. These fees are set by the State Board of Insurance.
1109-1112	Other Title Company fees are listed here and will include items such as Tax Certificates, Courier Fees, Tax Deletions & Endorsements and other misc. charges. These fees are estimated and can vary from title company to title company.
1200 - GOVERNMENT RECORDING & TRANSFER CHARGES:
1201	Recording Fees - Charged by the county courthouse to record the Warranty Deed and Deed of Trust papers after you close on the loan.
1202-1203	Not normally used in Texas.
1204	Home Owner's Association transfer fee and pro-rated dues.
1300 - ADDITIONAL SETTLEMENT CHARGES:
1302	Pest Inspection - The estimated cost of having a pest/termite inspection on the home. Required on all VA & Rural Housing purchase loans. This is only required on conventional loans if it is a requirement of the sales contract. Not usually required on refinances and new construction.
Blank Lines	Survey - The estimated cost of having the property surveyed by a licensed surveyor. This fee will vary depending on the size and location of the property.
900 - ITEMS REQUIRED BY LENDER TO BE PAID IN ADVANCE:
901	Interest for - (Called Prepaid Interest) Interest paid to the lender on the new loan from the date of closing through the last day of the month the loan closes in. This amount will vary depending on the actual closing date and how many days remain in the month. The closer to the end of the month you close the lower the prepaid interest charge to you.
902	Mortgage Insurance Premium - FHA Loans Only. The total amount of the Upfront Mortgage Insurance premium. Usually financed in the new loan amount.
903	Hazard Insurance Premium - Cost of a one year Hazard(Homeowner's) Insurance Policy. This is an estimated amount until the borrower gives Texas One a binder or policy from the Insurance Agent of their choice.
904	Blank Line - Usually used on refinance loans for listing any delinquent or past due taxes that must be included in the payoff of the borrower's current loan.
905	VA Funding Fee - VA Loans Only. The total amount of the VA Funding Fee. Usually financed in the new loan amount.
1000 - RESERVES DEPOSITED WITH LENDER (Escrows):
1001-1004	Reserves - Used to determine the number of months required and the amount of reserves needed to establish an escrow account for the new loan. These amounts will vary until we have tax certificates and your insurance documents to finalize the numbers. If you are waiving escrows there will be 0 months of reserves listed here.
TOTAL ESTIMATED FUNDS NEEDED TO CLOSE:
Bottom Left	Total Estimated Funds Needed to Close - This space summarizes the totals for Sales price, loan amount, closing costs, prepaids/reserves, seller paid closing costs, credits to the borrower for items paid in advance(credit report, appraisal, etc.), escrow funds on deposit, etc..
TOTAL ESTIMATED MONTHLY PAYMENT:
Bottom Right	Total Estimated Monthly Payment - This space summarizes your monthly payment including the P&I, Other Financing(2nd Lien pymt), insurance, taxes, mtg insurance, HOA fees & the total monthly(PITI) payment. Your monthly taxes, insurance and HOA fee will show up here even if you are waiving escrows.