The GFE is a breakdown of estimated costs such as closing costs, prepaid expenses, down payment balances and all other charges that must be paid at closing.  

The GFE is divided into four parts:

• Closing Costs- one time fees paid by the borrower at closing
  
• Prepaid Expenses- projected housing payments, such as interest and taxes, that must be prepaid in order to determing the escrow and loan schedule
  
• Balance of Cash for Closing- balance sheet which calculates the amount that the borrower will either pay or recieve at closing
  
• Projected Monthly Payment- projected monthly housing payments based on loan amount, interest rate, term, and other factors