When you make your mortgage application, you will receive a good faith estimate (GFE) of closing costs from your loan officer. Your loan officer must provide a standardized GFE within three days of receiving your loan application. This GFE must remain open for ten business days to permit you to comparison shop. Until you lock your interest rate, it may change or “float.” If you are taking out two loans, i.e., a first and a second mortgage, two GFE’s must be provided. Your lender must honor the GFE. GFE estimates can change only if “changed circumstances” exist. It is important for you to keep open lines of communication with your loan officer.