A Good Faith Estimate (GFE) was a form used by lenders to provide homebuyers with estimated costs associated with obtaining a mortgage loan, including fees, closing costs, and interest rates. Although it has been replaced by the Loan Estimate form, the GFE’s purpose was to allow borrowers to compare loans and understand upfront costs. With a GFE, borrowers could make informed decisions when choosing a mortgage lender and loan product, helping them better plan for the financial obligations of homeownership.