good faith estimate
Honest cost approximation
A good faith estimate is a preliminary calculation of expected costs, given honestly but without guarantee of accuracy.
The term appears most often in real estate and healthcare, where providers must disclose anticipated fees before services are rendered: The lender provided a good faith estimate of closing costs.
The estimate isn't binding, but significant deviations may indicate bad faith.
- quoteRepeated words from another
- ballparkSports venue or estimate
- approximationNear but inexact value
- mortgageSecured home loan
- home loanDebt for property purchase
real estate · closing · closing costs · lender · disclosure · truth in lending · fine print · costs · fees · preliminary · rough · projected · homebuying · down payment · settlement · loan · interest rate · paperwork
good faith estimatelowball estimate
bait and switch · predatory pricing · hidden fees · false representation · deceptive pricing
good faith estimatefinal bill
Last invoice owed
binding contract · closing statement · actual cost · fixed price · exact amount
good, goodness, goodly, better, best, faith, faithful, faithfully, faithfulness