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A friend of mine has asked me to help him with his home buying experience, or potential one. He has submitted several loan applications and sent over to me his "GFE" or so I thought he did. After reviewing the docs it is clear to see the new standardized form was not used, so does this mean we do not have a true GFE?

On the bottom of one it does state, "This is not a GFE but only an estimate of closing costs."

Second question, is it worth our time in comparing fees provided or should we contact the lender for the standardized GFE form? Finally, any idea why he wouldn't receive a GFE and got estimate on closing costs instead?

I would only compare the lender fee's.  The rest is just state fee's or taxes, and your attorney fee's.  Taxes etc. are going to be the same, Attorney title fee's you can always shop around or use someone you know, what they will be quoting is only an estimate for 3rd party fee's anyways.  If you want a GFE I would ask when you have decided who your going with. Chances are they are going to list the same fee's just on the 3 page format.

Truthfully with the way the government has it formatted, it is tougher for the borrower to understand than a regular transaction analysis that breaks everything down in 1 page (like it used to be before Dodd-Frank got involved)

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