A good faith estimate is based on the estimated total costs of borrowing in the purchase of a house. US Federal law requires a written statement to be given to the borrowers within 3 days of an application. The primary value of this statement is to give borrowers a comparative basis for lending rates. There are six separate sections in the good faith estimate:
Section 800 Items payable in connection with loans, including fees.
Section 900 Items payable in advance to the lender.
Section 1000 Reserves deposited with the lender, like taxes payable.
Section 1100 Title charges.
Section 1200 Government recording and transfer charges
Section 1300 Additional charges, may relate to inspections, pest control, etc.
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Business Letters 
