From: trader4@optonline.net
Newsgroups: misc.consumers.house
Subject: Re: Good Faith Estimates question?
Date: 16 Jul 2005 10:32:12 -0700
   posting-account=vW3O0AwAAABxQqAj-ZYxYAKqrqLQW3tX

"How much is the settlement costs on good faith estimate suppose to be
close to? Maybe off $50 or $60 bucks? "

That depends on a whole lot of things.  On even a $100,000 property,
I'd be surprised if it were that close.  On a $500,000 purchase, it
could easily be 50 times that.  One big factor, the amount depends on
the exact closing day, as you typically wind up paying the mortgage
company a partial months payment that gets you to the first regular
mortgage payment.  Whether it's small or almost a whole months mortgage
depends on the day of the month you close and with a large mortgage,
that's a big swing.  That's just one factor, others are escrows for
tax, utilities, etc.   The estimate is just that, they don't try to
calculate any of those numbers to a specific closing day.