I wonder why a “good faith estimate” costs an average 37% more . . . .
because you have law firms forensicly going through closing papers for defects and removing the morthgage from the property. This makes the promissory note unsecured.
Don’t know bout that. What I do know is that when I bought my current house in 2002, I almost got raped by a lowball “gfe”. I’d crunched the final numbers a week before closing an they were $3k higher ( iirc) than the gfe. I was told not to worry, but I rolled 5k over into our transition acct anyways. When we went to closing, sure enough there was the 3k diff. They had the paperwork all set to give me a short term high interest loan, and were annoyed when I pointed out that I had 2k more in the account than needed and that the needed to give me back.