Sellers: I'll fully explain the closing costs so you are aware of exactly what you're paying for. Buyers: When buying real estate, you will be given a "Good Faith Estimate" (GFE) of closing costs within three days of submitting your loan application. The estimate is required to be within an acceptable range so you're not startled when you get to the closing. An experienced lender such as our affiliate company, Avalon Mortgage Services, Inc., an Illinois Residential Mortgage Licensee, NMLS#: 283614, IL license#: MB.0003198, phone: 708-403-5181 will explain the "Good Faith Estimate" (GFE) of closing costs. No closing cost loans are also an option.
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