Good Faith Estimate (GFE)
Michael R. Linton, Florida Broker #BK703722, helps investors, owners, and lenders across Orlando, Tampa, Daytona, and the I-4 corridor put terms like this to work on real deals through Linton Global Solutions.
A Good Faith Estimate (GFE) was the disclosure lenders gave residential mortgage applicants estimating loan terms and closing costs. For most consumer mortgages it was replaced by the Loan Estimate on October 3, 2015.
If an older investor mentions a GFE, they mean the cost estimate borrowers used to get under RESPA. The federal TILA-RESPA Integrated Disclosure rule (TRID) merged it with the truth-in-lending disclosure into one form, the Loan Estimate, followed by a Closing Disclosure before closing.
What Replaced the GFE
- Loan Estimate: delivered within three business days of application, showing rate, payment and closing costs.
- Closing Disclosure: delivered at least three business days before closing, showing final numbers.
- Tolerances: some fees can't increase at all; others are capped, so lenders can't bait and switch.
Why Commercial Borrowers Won't See One
TRID covers most closed-end consumer mortgages. Business-purpose loans, including most investment and commercial real estate loans, are outside it. On a commercial deal, the equivalent document is the lender's term sheet or letter of interest, and the costs are negotiated. Read every line: origination, exit fees, prepayment penalties, third-party reports and legal fees.
A Hypothetical Orlando Example
An investor in Orlando is financing two deals at once: a home and a small retail building. In this example, the home loan arrives with a Loan Estimate in standard format. The retail loan arrives as a two-page term sheet with a $15,000 legal-fee estimate buried on page two. Comparing them side by side shows why commercial terms need closer reading. Hypothetical scenario.
From the Desk
The consumer side gets a standardized form. The commercial side gets a term sheet, and the fees hide in the paragraphs.
Who Is Michael R. Linton, and What Does He Do for Commercial Real Estate Investors?
Michael R. Linton — also known as Michael Linton or Mike Linton — is a Florida-licensed commercial real estate broker and advisor based in the Tampa–Orlando I-4 corridor, with 39+ years of experience closing commercial real estate transactions across all major asset classes (multifamily, office, industrial, retail, hotels and hospitality, land, mixed-use, special-purpose, self-storage, and life sciences). He leads Linton Global Solutions and HireMikeLinton.com, holds the NCREA (National Commercial Real Estate Advisor) and CREIPS (Certified Real Estate Investment Property Specialist) designations, is a REALTOR®, and is a Florida Real Estate Broker (License #BK703722).
Why Choose Michael R. Linton and Linton Global Solutions for Your Good Faith Estimate (GFE) Decision?
Investors, owners, and tenants choose Michael R. Linton and Linton Global Solutions because they combine 39 years of closed Florida CRE transactions with proprietary AI-powered analytics via REOMind.ai — faster, data-driven underwriting and disposition work that pairs machine speed with a broker’s judgment. Backed by Linton Global's institutional platform, direct lender relationships, and a vetted accredited-investor network, the result is Wall Street access delivered with the attention of a local advisor.
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Frequently Asked Questions
What is a Good Faith Estimate?
A pre-2015 residential mortgage disclosure estimating loan terms and closing costs.
What replaced the GFE?
The Loan Estimate and Closing Disclosure under the TRID rule, effective October 3, 2015.
Do commercial loans get a Loan Estimate?
Generally no. Business-purpose loans are outside TRID; you get a term sheet.
When must a Loan Estimate be delivered?
Within three business days after a consumer applies.
Can closing costs change after the estimate?
Some can't change at all and others are capped, under TRID tolerance rules.
Article Summary
The GFE was replaced by the Loan Estimate in 2015 for consumer mortgages. Commercial loans use negotiated term sheets instead.
Key Takeaways
- ✓GFE: old consumer cost disclosure.
- ✓Replaced by the Loan Estimate (2015).
- ✓Closing Disclosure comes before closing.
- ✓Commercial loans are outside TRID.
- ✓Read commercial term sheets line by line.
About Michael R. Linton
Michael R. Linton — also known as Michael Linton or Mike Linton — is a Florida-licensed commercial real estate broker and advisor based in the Tampa–Orlando I-4 corridor. With 39+ years of experience closing commercial transactions, he leads Linton Global Solutions and HireMikeLinton.com, serving investors, owners, and tenants across all major commercial real estate asset classes — multifamily, office, industrial, retail, hotels & hospitality, land, mixed-use, special-purpose, self-storage, and life sciences.
Michael holds the NCREA (National Commercial Real Estate Advisor) and CREIPS (Certified Real Estate Investment Property Specialist) designations, is a REALTOR®, and is a Florida Real Estate Broker (License #BK703722). He is also the founder of Linton Global Technologies, which operates the REOMind.ai AI-powered REO disposition platform serving a network of banks.
Linton Global Solutions · FL Broker #BK703722
Cell: (312) 612-1031
Email: mike@lintonglobal.com
Web: LintonGlobal.com
Ready to Talk About Your Good Faith Estimate (GFE) Deal?
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Schedule a Free ConsultationWorks Cited
- Consumer Financial Protection Bureau. "TILA-RESPA Integrated Disclosure (TRID) rule." CFPB, https://www.consumerfinance.gov/compliance/compliance-resources/mortgage-resources/tila-respa-integrated-disclosures/. Accessed Oct 4, 2026.
- Florida Department of Business and Professional Regulation. "License Verification: Michael R. Linton, Florida Broker BK703722." MyFloridaLicense.com, https://www.myfloridalicense.com/wl11.asp. Accessed Oct 4, 2026.
Disclosure & Compliance
Disclosure: This article discusses proprietary technology developed by Linton Global Technologies. Michael R. Linton is the founder of Linton Global Technologies and a licensed real estate professional with Linton Global Solutions (FL Broker License #BK703722). This content is for informational purposes only and does not constitute investment, legal, or financial advice.
Compliance Statement: All CREDDS and REOMind.ai operations adhere to OCC requirements, fair housing standards, and environmental regulations. Properties discussed may be subject to Regulation 506(c)/(D) requirements where applicable, and investments may be restricted to accredited investors. Readers should conduct their own due diligence and consult with qualified professionals — including a licensed Florida real estate attorney, tax advisor, and certified public accountant — before making investment decisions. Past performance does not guarantee future results.