GFE and HUD-1
The good faith estimate, or GFE, spells out the estimated fees, taxes and other charges that the borrower will pay at closing. The lender is required to provide this document.
The costs listed on the GFE typically include the lender's origination fee, points (if any), escrow or attorney's closing fees, title insurance, appraisal fee, and various other taxes and expenses. However, the exact list will vary by state, and borrowers should remember that the actual cost of the loan can change.
When the mortgage officially closes, lenders are required to state the actual costs of the loan on a HUD-1 form. (HUD is an acronym for the Department of Housing and Urban Development.) The HUD-1 should track with the GFE, but it can also include other costs, such as a broker's commission, which might not have been included in the original estimate.