Tim Bradford   
Lending Specialist   
216-324-8113   
OHIO LO.007173.000   
NMLS  250013   

Welcome to www.GFEforDummies.com

As part of the New GFE there is a Summary of the Loan and also a Shopping Grid that may help some borrowers compare loan offers from a number of lenders.  These two areas are shown here. 

Summary shown on Page 1 and Page 2.
Click Here for Additional Information About the Adjusted Origination Charges

Shopping Grid as Shown on Page 3 of the GFE
Click here for a Slight Variation of this Shopping Grid

If you did not read the information about Page 2 of the GFE, you will want to review it now.  As indicated on that information page the rules do not stop a lender from under estimating some of the charges.  One problem with the Shopping Grid is it does not break out Items A & B from the Summary.  You may wish to add these two lines to your shopping Grid for comparison purposes. 

When using the shopping Grid it is important that most if not all of the details of the transaction be identical.   On page 3 of the New GFE borrowers are presented with a Comparison Grid that is intended to allow a borrower to compare different loan terms.  On this site you will find a Calculator that is a variation of this Comparison Grid that does some math to assist you in determine if you want to pay more in closing costs to get a lower rate or to pay less in closing costs and receive a higher rate on your loan.   That calculator can be found here. 

Comparison Grid as shown on Page 3 of the GFE
Click here for a variation of this Comparison Grid