If you’ve ever applied for a mortgage, you probably received either a Good Faith Estimate or a Loan Estimate. If you’re like most of the clients I’ve worked with over the years, you just asked the lender what your monthly payment would be and shoved the Loan Estimate in a drawer.
But that lengthy and confusing piece of paper is actually pretty important for understanding the real cost of your loan.
Lending Tree recently asked me to write a guide to understanding the costs of your mortgage. If you’re in the process of buying a home – or thinking of buying one in the future – give it a read!